How long until mortgage rates climb?
Australian consumer prices jumped an extraordinary 2.1% in the first three months of the year, the biggest quarterly jump since the introduction of the 10% goods and services tax at the start of the century. The outsized increase, together with a larger than normal increase in the months to December, pushed Australia’s annual inflation rate…
ASX finishes April with 2nd strong rally
SYDNEY, AAP – The local bourse has ended April with a bang, recovering from the brutal three-day selloff that began last week with its best two-day performance of the year. The benchmark S&P/ASX200 index closed on Friday with a last-minute surge to finish up 78.1 points, or 1.06 per cent. The broader All Ordinaries index…
‘Navigating in the dark’ on green economy
CANBERRA, AAP – The task of transforming to a cleaner economy is far larger than anyone expects and most of us are still in the dark about what skills are needed, a business forum has been told. Industrial-scale investment in new technologies and changes within households are part of a carbon neutral economy, along with…
Meat industry meeting climate target
SYDNEY, AAP – Australia’s red meat industry says it’s on target to reach carbon neutrality by 2030 and has reduced its emissions by almost 60 per cent since 2005. In an address to the Farm Writers Association in Sydney, the head of Meat and Livestock Australia Jason Strong said his industry had made the greatest…
West Sydney investment to unlock new homes
SYDNEY, AAP – Investing in infrastructure in Western Sydney’s growth areas will help deliver tens of thousands of new homes as demand for housing soars, the state government says. Western Sydney councils have been allocated $139 million to fund 24 separate projects as part of the NSW government’s Accelerated Infrastructure Fund, the premier and planning…
ATO urged to use powers over unpaid super
CANBERRA, AAP – The tax office has been urged to use more of its powers to recover superannuation payments from employers accused of withholding the payments from employees. A new auditor-general’s report released on Thursday recommended the ATO better use its enforcement capabilities to get back the money entitled to workers. It was one of…
Twitter sees growth in users, profit
NEW YORK CITY, AP – Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising, according to its quarterly report released days after agreeing to be sold to billionaire Elon Musk. The social media company on Thursday reported net income of $US513 million ($A723 million), or 61 cents a share,…
Aged care workers to strike for better pay
SYDNEY, AAP – The aged care workforce has voted for a national strike in the middle of the federal election campaign in a push for better pay and conditions. The May 10 strike, less than two weeks out from the election, was endorsed by union leaders from aged care providers on Wednesday night, with the…
Prices surge on coal-reliant grid: report
CANBERRA, AAP – Wholesale electricity prices for industry and large businesses have breached the federal government’s promised level, adding another cost pressure to the economy. The Australian Energy Market Operator said on Friday that prices in the national electricity market averaged $87 per megawatt-hour in the first three months of this year, up more than…
Wall Street soars despite GDP gloom
NEW YORK CITY, RAW – Wall Street has ended sharply higher after a strong quarterly report from Meta Platforms lifted beaten down technology and growth stocks and offset worries about the US economy’s contraction in the first quarter. The Facebook parent surged 17.6 per cent after the social network reported a larger than expected profit…
