Households can absorb rate rise: treasurer
CANBERRA, AAP – Treasurer Josh Frydenberg believes many households are in a position to absorb a rise in interest rates after the Reserve Bank appeared to suggest tighter monetary policy is just months away. The RBA left the the cash rate at a record low of 0.1 per cent at Tuesday’s monthly board meeting. But…
Poll positions for electric car campaign
CANBERRA, AAP – A new auto industry, a ban on fossil fuel-powered vehicles, subsidies for electric cars, and “choices not mandates” are on the starting line as parties gear up for the federal election. Australian Greens leader Adam Bandt says the party will push for a South Australian-focused package to support an electric car industry…
Medicine regulator faces Senate grilling
CANBERRA, AAP – Senior health officials from the medicines regulator will be grilled on Australia’s pandemic response as part of the Senate Estimates hearings. On Wednesday the community affairs committee will focus on Australia’s health policy, access and response. Officers from the Therapeutic Goods Administration will answer questions on health protection, emergency response and regulation…
Musk joins Twitter board promising change
NEW YORK CITY, RAW – Tesla Inc boss Elon Musk vowed “significant” improvements at Twitter Inc on Tuesday, after the micro-blogging site announced plans to name him to the board. The appointment, however, will potentially block chances of a takeover bid from Musk as he cannot own more than 14.9 per cent of Twitter’s stock…
Wall St retreats on Fed, Russia worries
NEW YORK CITY, RAW – Wall Street’s main indexes fell after US Federal Reserve Governor Lael Brainard said she expects rapid reductions to the central bank’s balance sheet, spooking investors already on edge about the prospect of fresh sanctions on Russia. The tech-heavy Nasdaq fell the most as expectations of quicker interest rate hikes dulled…
RBA warns watching inflation, wages data
CANBERRA, AAP – The Reserve Bank of Australia has indicated it will be assessing inflation and wage figures in coming months before raising interest rates. The RBA board left the cash rate at a record low 0.1 per cent at Tuesday’s monthly board meeting, as widely expected. RBA governor Philip Lowe said inflation has picked…
Shares drop after RBA loses patience
SYDNEY, AAP – Investors lost some enthusiasm for Australian shares after the Reserve Bank changed its language on lifting rates. The market was about half a per cent higher for much of Tuesday but dived after the Reserve Bank statement after its monthly meeting did not include the common refrain that it is prepared to…
Has the RBA reached peak hawkishness?
If investors think maximum hawkishness in market pricing for the major central banks has been reached, lower yields could be a critical pillar of support for global equities in April. Global fixed income remained well supported since the start of the month. Further gains in bond markets depend on two factors. First, whether CPI inflation…
Aust shares skid on rate hike worries
SYDNEY, AAP – Australia’s share market skidded on Wednesday as sentiment weakened amid heightened expectations of interest rate increases both globally and in the local market. The benchmark S&P/ASX200 index was down 56.9 points, or 0.79 per cent, to 7468.3 at 1200 AEST. The All Ordinaries index was lower by 64.7 points, or 0.83 per…
Musk takes nine per cent stake in Twitter
NEW YORK CITY, RAW – Tesla Inc boss Elon Musk has disclosed a 9.2 per cent stake in Twitter Inc, worth nearly $US3 billion ($A4.0 billion), making him the micro-blogging site’s largest shareholder and triggering a rise of more than 27 per cent in the company’s shares. Musk’s move, revealed in a regulatory filing, comes…
