US may tap oil reserve as fuel prices soar
WASHINGTON, RAW – President Joe Biden’s administration is considering releasing one million barrels of oil a day for several months from the Strategic Petroleum Reserve to reduce petrol prices, two senior US officials say. Biden will give remarks on Thursday on his administration’s actions, the White House says, after Russia’s invasion of Ukraine and sanctions…
Energy official tested on renewable claims
CANBERRA, AAP – A budget cut in climate spending and federal government claims about billions of dollars of investment in renewable energy are under scrutiny. Labor senator Jenny McAllister grilled officials on Thursday on the budget papers, which she said showed climate spending “falling precipitously” over the next four years. Deputy Secretary of the Department…
WA caps airfares for regional residents
PERTH, AAP – In a national first, Western Australia has capped the cost of airfares for people living in regional areas. The Labor government says fares will be capped for residents travelling to and from Perth from July 1. Under the plan, people travelling from an airport within 1000km driving distance from the state capital…
Vacancy data to confirm lower jobless rate
CANBERRA, AAP – New job vacancy figures are likely to back the case for a sustained move in the unemployment rate under four per cent. This week’s federal budget, and the Reserve Bank of Australia’s most recent forecasts, point to the jobless rate hitting 3.75 per cent this year, a level not seen since the…
Is it War or Peace?
The S&P 500 gave back some of its recent gains., reversing some of Tuesday’s hopeful price action. This reversal comes on the heels of Russia pouring cold water on headlines of constructive ceasefire talks. But in a repeat of the past few days, there was yet another systematic driven squeeze higher into the bell; otherwise,…
Europe braces for Russia gas disruption
BERLIN, RAW – Germany has triggered an emergency plan to manage gas supplies under which Europe’s largest economy could ration power if a stand-off over a Russian demand to pay for fuel with roubles disrupts or halts supplies. Moscow’s insistence on rouble payments for the Russian gas that meets a third of Europe’s annual energy…
Wall St dips, Ukraine talks optimism fades
NEW YORK CITY, RAW – US stocks have fallen, led by megacap stocks, as optimism around the Ukraine-Russia peace talks fades and concerns grow over the prospect of a rapid rise in interest rates hurting economic growth. The Kremlin said there was no sign of a breakthrough yet even though it welcomed Ukraine’s move to…
Star crime fear in VIP room ‘bags of cash’
SYDNEY, AAP – A senior Star Entertainment manager in charge of preventing financial crime inside the gambling giant’s Sydney operations will testify at a casino probe. The NSW gaming regulator’s inquiry continues on Thursday, with ongoing evidence from Star general manager, financial crime and investigations, Kevin Houlihan. Mr Houlihan has already testified his department launched…
Nurses walk off job calling for more staff
SYDNEY, AAP – Nurses across NSW are set to take industrial action in support of their demand to boost workforce numbers and secure better pay. Thursday’s strike comes a month after the NSW Nurses and Midwives’ Association voted in favour of historic statewide action, which subsequently saw demonstrations at 150 public hospitals. “Patients play lotto…
Magnificent seven as ASX gains continue
SYDNEY, AAP – Australian shares have closed higher for a seventh consecutive day – a feat not seen in 15 months. The market gained 0.67 per cent the day after a federal budget which pledged to put more cash in consumers’ pockets and halve the fuel excise for six months. Technology shares were best for…
