China-Europe freight train services see robust growth
The number of China-Europe freight train service surged by 18 percent year on year last month, hitting a record-high 1,585 trips, according to the China State Railway Group Co., Ltd. About 154,000 20-foot equivalent units (TEU) of goods were shipped through the freight trains in August, up 19 percent from a year ago, according to…
CommSec morning report Tuesday
In US economic data, consumer inflation expectations for the year ahead fell from 6.2% to 5.7% in August (survey: 6.1%). European sharemarkets climbed on Monday. Investors focussed on attempts by a number of countries to support utilities and consumers as energy prices continued to rise. Banks, which gain in a rising interest rate environment, lifted…
Evening report Monday
The Aussie sharemarket lifted for a third straight day, and finished near session highs, with the ASX 200 up by 70.3.points or 1.02 per cent, to 6964.5. 10 (of 11) sectors finished in positive territory, with Miners (up 2.2 per cent) doing most of the heavy lifting. The Financial sector improved its gains throughout the…
China’s commodity market sees improving demand
China’s bulk commodity market saw improving fundamentals in August with a marked increase in sales as demand rebounded, industrial data showed. The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood at 102.3 percent for August, up 1 percentage point compared with July, according to the China Federation of Logistics…
Former BBY Head of Operations charged
Fiona Mae Bilton of Victoria has been charged with obtaining a financial advantage by deception. Ms Bilton, as Head of Operations at stockbroking firm BBY Limited (BBY), is charged with three counts of dishonestly obtaining a financial advantage for BBY by deceiving St George Bank on 115 separate occasions between June 2013 and May 2015. …
Why El Salvador’s Bitcoin experiment is a spectacular failure
A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón. President Nayib Bukele, a cryptocurrency enthusiast, promoted the initiative as one that would deliver multiple economic benefits. Making Bitcoin legal tender,…
Economic opportunities key to the Six Cities vision
Better connecting communities, new targets for affordable housing and creating more jobs are front and centre in the NSW Government’s ambitious plan for the Six Cities. The Six Cities Discussion Paper released today further takes forward our plan to build Australia’s only truly global city region: Lower Hunter and Greater Newcastle City, Central Coast City,…
Agricultural futures perform mixed
CBOT agricultural futures were mixed in the past week on demand concern related to rising U.S. and world interest rates and the potential recession that could follow. U.S. Labor Department will release August inflation reading which is expected to hold above 8 percent. Chicago-based research company AgResource sees high odds that the Federal Reserve will…
CommSec morning report Monday
In US economic data, wholesale inventories rose by 0.6% in July (survey: +0.8%). European sharemarkets climbed on Friday. The pan-European STOXX 600 index rose by 1.5% with mining stocks up 3% as prices of industrial metals rose. The index lifted 1.1% over the week. The German Dax index gained 1.4% on Friday and the UK…
Is China about to become a source of global inflation?
The recent period of red-hot goods inflation has snapped decades of disinflationary pressure since China emerged as a low-cost manufacturer. The nature of the recovery from the Covid-19 pandemic has of course contributed to rampant goods inflation, given that lockdowns skewed demand into the goods sector and interrupted supply chains. Goods inflation should come down…
