Origin Energy questioned over Russian link
DARWIN, AAP – A gas company exploring the Northern Territory’s Beetaloo Basin has denied any wrongdoing over its links to a Russian billionaire on Australia’s sanctions list. Origin Energy says it will comply with any directions from the Department of Foreign Affairs and Trade concerning Russian oligarch Viktor Vekselberg. Mr Vekselberg is understood to own…
Housing, health on pre-election agenda
CANBERRA, AAP – Labor is seeking to turn the election focus to housing with a policy to support first-home buyers in regional areas. The policy announcement came as a new analysis of Newspoll figures showed support among 35 to 49-year-olds for the Liberal-National coalition dropped seven points to 29 per cent, while Labor rose five…
Lockdowns hit Premier first-half profit
SYDNEY, AAP – Retailer Premier Investments has posted a 13 per cent drop in first-half profit after Delta lockdowns in Sydney and Melbourne left most of its fashion, apparel and stationery stores shut during the initial quarter. The owner of Smiggles, Peter Alexander and Portmans brands reported net profit of $163.6 million for the 26…
Opportunity to replace Russian gas: Santos
CANBERRA, AAP – The nation’s biggest domestic gas supplier Santos is keen to reduce Europe’s dependency on Russia by selling more Australian LNG, a federal inquiry has been told. Santos also warned on Friday that if investment in oil and gas exploration stops in places like Australia, the world will rely on Russia and OPEC…
Asian shares steady, set for weekly gain
HONG KONG, RAW – Asian shares could be heading for a second successive week of gains, though trading was choppy amid hawkish US monetary policy, shifts in Chinese economic policy, and ongoing ructions in commodity markets due to the war in Ukraine. MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat, but is up…
Hydrogen highway to link Aust east coast
SYDNEY, AAP – Truckies pinched by high fuel prices can look forward to a hydrogen highway linking three eastern states in a concerted renewables push for the industry. In a landmark collaboration between NSW, Queensland and Victoria at an estimated cost of $20 million, four massive hydrogen refuelling stations between Sydney and Melbourne will initially…
Endometriosis funding to get record boost
CANBERRA, AAP – A $58 million plan to support 800,000 women with endometriosis has been unveiled as part of the upcoming federal budget. The funding will go towards building treatment centres, improving telehealth services and offering Medicare rebates for MRI scans related to the disorder, which affects one in nine Australian women. More than a…
Investors are aware of the Fed’s bark , but are not pricing in their bite just yet
MARKETS US equities rose Thursday, S&P up 1.4%. US10yr yields up 7bps to 2.37%, oil down 3%. The broader narrative remains unchanged, focusing on central bank policy tightening as markets price in multiple 50bp Fed rate hikes. Turbulence in bond markets and flattening yield curves have gotten a fair bit of attention, with market participants…
Crown ‘unsuitable’ to operate Perth casino
PERTH, AAP – Crown has been found unsuitable to run a casino in Western Australia but will be given two years to clean up its act under independent monitoring. The finding is contained in the final report by a royal commission into the Perth casino, released by the state government on Thursday. The three commissioners…
Nasdaq leads as Wall Street resumes rally
NEW YORK CITY, RAW – Major US stock indexes have rallied more than one per cent, extending the market’s recent rebound as investors snapped up beaten-down shares of chipmakers and big-growth names, and as oil prices dropped. Nvidia’s stock gained 9.8 per cent, leading a rally across the chip sector and hitting its highest level…
