Summer sheep export resumption questioned
CANBERRA, AAP – The Morrison government will allow the resumption of live sheep exports to parts of the Middle East during summer months. The ban had been imposed in March 2020 under rules aimed at reducing animal deaths. Heat stress during the northern hemisphere summer became a key issue for the trade which was rocked…
Construction starts on new Qld coal mine
CANBERRA, AAP – The first sod has been turned on a new coal mine which has an expected operating life of nearly 80 years. The Olive Downs coal mine is a new project to produce metallurgical coal, used for steel making, located near Moranbah in central Queensland. The federal government provided a $167.5 million loan…
ASX rebounds from midweek rate hike fears
SYDNEY, AAP – Australian shares have had their best day in more than a week as investors bounced back from central bank warnings of higher rates. The market closed about half a per cent higher on Friday, bolstered by a one per cent gain for the heavyweight materials category. The benchmark S&P/ASX200 index closed up…
RBA warns of quicker, steeper rate rises
CANBERRA, AAP – On the eve of a tight election, the central bank has warned that rising prices and interest rates will make it harder for some borrowers to make payments. The quarterly Financial Stability Review released on Friday says with inflation higher and more persistent than expected, there is a risk that interest rates…
Labor pledges water, aged care reforms
CANBERRA, AAP – Federal Labor has pledged to restore 450 gigalitres of water to the Murray Darling Basin plan to ensure South Australia gets a fair share under the scheme. Opposition Leader Anthony Albanese also promised to establish a national water commission, should the party win office at the next election, with $26 million set…
Feds ‘must fund’ renewables infrastructure
CANBERRA, AAP – International investors will go to rival economies unless the Australian government plans and builds the infrastructure needed by future industries, a think tank warns. Renewable energy industrial precincts in the Hunter and Gladstone regions could attract $36 billion in investment, support 45,000 new jobs and earn $13 billion in annual revenue by…
ASX rebounds after fears of higher rates
SYDNEY, AAP – A warning about higher interest rates from the Reserve Bank has not deterred investors from pushing the share market higher. Commodity shares were leading the market about half a per cent higher on Friday after two consecutive days of losses for the indices. The Reserve Bank in its quarterly Financial Stability Review…
Inflation pressure a global challenge: PM
CANBERRA, AAP – Inflation pressures are a global issue and not just limited to Australia, according to the prime minister. Just days out from calling the election, Scott Morrison said there were multiple pressures on the national economy, in particular a looming rise in interest rates. However, he told Melbourne radio station 3AW similar pressures…
A retracement in oil prices aided US Stocks.
MARKETS Although the tape is incredibly messy, US stocks were supported by a limited rise in real yields, stable earnings expectations and some retracement in energy prices. The first-quarter earnings season kicks off next week, and, as always, Financials will get things started – almost a third of the XLF ETF reports. And with the…
Microsoft disrupts hacks by Russian spies
LOS ANGELES, RAW – Microsoft Corp says it has disrupted hacking attempts by Russian military spies aimed at breaking into Ukrainian, European Union, and American targets. In a blog post on Thursday, the tech firm said a group it nicknamed “Strontium” was using seven internet domains as part of an effort to spy on government…
