Wall Street up on strong earnings reports
NEW YORK CITY, RAW – The S&P 500 has ended higher following a steep drop the day before, with strong revenue forecasts from Microsoft and Visa helping to alleviate worries about slowing global economic growth and rising interest rates. Microsoft Corp rallied after the software heavyweight late on Tuesday gave a strong revenue forecast while…
Star boss quizzed on tax break ‘strategy’
SYDNEY, AAP – A Star Entertainment boss has been grilled at a casino inquiry over whether The Star Sydney had a deliberate strategy of shifting local players to an international rebate program, in order to pay less gaming tax. The NSW gaming regulator inquiry is probing the fitness of Star to hold a Sydney casino…
ASX at 6-week low after 3rd day of losses
SYDNEY, AAP – The Australian share market has fallen for the third consecutive session, this time with tech stocks and financials the biggest drag. The benchmark S&P/ASX200 index closed on Wednesday down 56.8 points, or 0.78 per cent, to 7,261.2, while the broader All Ordinaries fell by 57 points, or 0.75 per cent, to 7,547….
Food price inflation hits 11-year high
SYDNEY, AAP – The latest consumer price index data from the Australian Bureau of Statistics shows food prices have had their highest year-on-year rise in more than a decade. The ABS figures released on Wednesday show the annual rate of inflation soared to its highest level since 2001, with food prices up by 4.3 per…
Growth fears extend global stocks sell-off
SINGAPORE, RAW – A global stocks sell-off has extended into the Asia morning, as growing fears about the global economy forced investors to dump riskier assets in favour of safe havens such as the US dollar and government bonds. Financial markets, already anxious about the prospects for aggressive US interest rate hikes, a spike in…
ASX snaps losing streak, up 1.0pc at noon
SYDNEY, AAP – The Australian share market is bouncing back from its three-day losing streak, with gains nearly across the board at midday. The benchmark S&P/ASX200 index was up 74.6 points, or 1.0 per cent, to 7335.5 at noon, while the broader All Ordinaries had gained 75.7 points, or 1.0 per cent, to 7,662.7. Every…
Consumer price index rises to 5.1 pct
CANBERRA, AAP – CHANGES TO CONSUMER PRICE INDEX IN MARCH QUARTER: Quarterly change (followed by annual change in brackets) * Consumer Price Index – up 2.1 per cent in quarter (up 5.1 per cent annually) * Food and non-alcoholic beverages – up 2.8 per cent (up 4.3 per cent) * Alcohol and tobacco – up…
Gazprom warns Poland, Bulgaria on gas
WARSAW, RAW – Polish and Bulgarian officials say Moscow is cutting off natural gas deliveries to their countries due to their refusal to pay in Russian roubles, a demand made by President Vladimir Putin after sanctions were levied against his nation over the invasion of Ukraine. Russian state-owned energy giant Gazprom informed the two EU…
PM dismisses climate in-fighting claims
CANBERRA, AAP – Scott Morrison has dismissed claims the coalition is at odds with each other over climate policy, with the prime minister claiming the issue had been resolved. His comments came after Nationals Senator Matt Canavan said the government’s net-zero emissions by 2050 target was “dead”. Speaking to reporters in Rockhampton on Wednesday, Mr…
Confidence eases ahead of inflation data
CANBERRA, AAP – Consumer confidence eased slightly in the past week, coinciding with an increase in petrol prices after four weeks of steady declines from above $2 per litre. The weekly ANZ-Roy Morgan consumer confidence index – a guide to future household spending – eased 0.3 per cent to 96.5. A level below 100 indicates…
