Zoetis’ proposed acquisition of Jurox not opposed
The ACCC will not oppose the proposed acquisition of Jurox by Zoetis after accepting a court-enforceable undertaking from Zoetis to divest Jurox’s intramammary product range, consisting of intramammary antibiotics for dry and lactating cows and teat sealants for cows. Zoetis and Jurox develop, manufacture and sell animal health products. They are two of the leading…
US stock market carnage spills over into Australia
The August month-on-month-consumer price reading is 0.6%, twice the expectation of 0.3%. Investors fearing accelerated and sharper rate hikes hit the sell button en masse. What is driving the selloff, and can we expect the selling to continue? Sticky inflation The August month-on-month print of the consumer price index came in at 0.6%, or 7.2%…
Starbucks stores in China to reach 9,000 by 2025
Coffee giant Starbucks said Wednesday that its store count on the Chinese mainland is expected to grow to 9,000 by 2025, providing 35,000 new jobs for employees. “Through the launch of the Starbucks China 2025 purpose-driven growth agenda, we reaffirm our strong confidence in the prospects and opportunities of the Chinese market with concrete commitments…
Charges against Club Culture director withdrawn
Charges laid against Victoria Renee Ingrid Larsen of Aberfoyle Park, South Australia, have been withdrawn. Ms Larsen was the sole director of Club Culture Pty Ltd (ACN 104 943 615). The prosecution had alleged that Ms Larsen twice exercised her power as a director of Club Culture while the company was in liquidation and made…
CommSec morning report Thursday
In US economic data, the producer price index (PPI) fell by 0.1% in August after a 0.4% fall in July (survey: -0.1%) but was up by 8.7% on the year (survey: +8.8%). The core PPI (ex-food and energy) rose by 0.4% in August (survey: +0.3%) to be 7.3% higher on a year ago (survey: +7.1%)….
Evening report Wednesday
A sharp sell-off in Wall Street overnight fuelled selling sentiment and pushed the Aussie market to snap four straight days of gains, with the ASX 200 tumbling by 181 points or 2.58 per cent to 6828.6 – its largest daily decline in three months. All sectors of the market and roughly 96 per cent of…
Power projects vital to Australia’s energy future
NSW is in the midst of an energy infrastructure boom, with two major projects gaining planning approval and the Waratah Super Battery to be declared as Critical State Significant Infrastructure, all of which will help drive power prices down and boost the economy. The two projects gaining planning approval are the $1.08 billion EnergyConnect, a…
The remarkable flexibility and durability of the US oil industry
Displacement of Russian oil to Europe could derail the world’s oil market. The US private and public market response to the crisis has surpassed even the most optimistic expectations. How has the US suppressed oil prices, and can this continue? Oil’s importance For the average consumer, oil is one of the most significant expenditures through…
Qantas takes to the skies with Sydney to Bengaluru route
A new Qantas route between Sydney and Bengaluru has taken to the skies today thanks to the NSW Government’s Aviation Attraction Fund, marking the first direct connection between Australia and Southern India by any airline. Treasurer Matt Kean said the new service will deliver more than 44,000 inbound international seats to Sydney up to 30…
Property underquoting blitz launched
The Andrews Labor Government has established a dedicated taskforce to crack down on underquoting and protect Victorians from wasting time and money investigating properties they simply can’t afford. At a time when every dollar counts for households, the dedicated taskforce will begin work immediately with a blitz to ensure property prices are being fairly and…
