Albanese returns to cost of living debate
CANBERRA, AAP – Labor is keeping rising childcare fees and the cost of living at the forefront of its election pitch, as leader Anthony Albanese rejoins the campaign trail after a week of COVID-19 isolation. Mr Albanese will fly to Perth on Friday ahead of the party’s campaign launch on the weekend. Labor attacked the…
ASX snaps losing streak with 1.0pc gain
SYDNEY, AAP – The Australian share market has bounced back from its three-day losing streak, with gains nearly across the board as traders snapped up cheap shares in major miners and oil producers. The benchmark S&P/ASX200 index closed up 95.7, or 1.3 per cent, to 7,356.9, while the broader All Ordinaries finished up 95.4 points,…
Online market rankings raise ACCC concerns
SYDNEY, AAP – Product rankings on marketplace websites run by the likes of Amazon, eBay and Kogan are the latest focus of the consumer watchdog’s scrutiny of online algorithms. The Australian Competition and Consumer Commission is considering whether Australia needs new regulations for digital marketplaces and other platforms. It has been increasingly concerned about algorithms…
Ford loses $US3.1 billion in first quarter
DALLAS, AP – US carmaker Ford lost $US3.1 billion ($A4.3 billion) in the first quarter of 2022, weighed down by its investment in an electric-vehicle startup, while its revenue slid as a shortage of chips limited the supply of pickups and SUVs in North America. Company executives pointed away from the loss and towards results…
ASX up 0.8pc at noon as rally continues
SYDNEY, AAP – The local bourse is enjoying gains across the board at midday, continuing its bounce-back from a brutal three-day stretch that began a week ago. The benchmark S&P/ASX200 index was up 55.7 points to 7,412.6 at noon, a gain of 0.76 per cent. The broader All Ordinaries index was up 63.4 to 7,705.8,…
Coles shoppers load up with food, liquor
SYDNEY, AAP – Shoppers have been packing their trolleys with more groceries – and alcohol – in the first three months of the year, in a trend that has lifted sales and revenue at supermarket chain Coles. The listed company, formerly a part of conglomerate Wesfarmers, reported a 3.9 per cent increase in retail sales…
Investors fret over potential Musk U-turn
NEW YORK, RAW – Investors speculating over whether Elon Musk will complete his $US44 billion ($A62 billion) acquisition of Twitter have sent the social media company’s shares to their lowest level since the deal was announced. Traders fretted Musk may not have enough money sitting around to fund his $US21 billion cash contribution and could…
RBA likely to hike regardless of election
CANBERRA, AAP – Economists and financial markets are factoring in an interest rate hike when the Reserve Bank of Australia board meets on Tuesday, regardless of being in the middle of a federal election campaign. There was a marked change of thinking after the latest inflation figures on Wednesday saw the annual consumer price index…
Telstra pays refunds, fine for errors
CANBERRA, AAP – Telstra will fork out more than $2 million for overcharging more than 11,000 customers between 2018 and 2021. After self-reporting the errors, an Australian Communications and Media Authority investigation found the nation’s largest telecommunications company had ignored a 2020 directive to comply with billing accuracy obligations. That directive came after Telstra overcharged…
Rental homes slim picking for low earners
SYDNEY, AAP – Some 98 per cent of rental properties across the country are too expensive for workers on the minimum wage. A new survey by Anglicare Australia of 45,992 rental listings shows the market is less affordable than ever, and all political parties need to act urgently. Only 712 of the rental properties surveyed…
