Regional newspapers need support: inquiry
CANBERRA, AAP – The federal government should support regional newspapers through a greater share of advertising, funds for research, targeted grants and even tax rebates. That’s the finding of a multi-party inquiry into the struggling media sector which reported to federal parliament on Wednesday. Communications committee chair Dr Anne Webster said regional newspapers had experienced…
Aust shares higher for fifth day in six
SYDNEY, AAP – Shares closed higher for the fifth day of the past six on the ASX, although the gains were least of the recent positive period. A broad-based rally on Wednesday helped the market higher by half a per cent and overcame a negative contribution from commodity shares. Technology shares were best and closed…
The resilience of equity markets chimes with credit markets
MARKETS US equities were stronger Tuesday, S&P up 1.1%. Bonds sold off again: US10yr yields up another 9bps to 2.38%, 2yrs up 4bps to 2.16%. Oil little changed. ( At New York Close) A beat on Richmond Fed manufacturing, up 12pts to +13 in March, consistent with the more robust Philly Fed print last week,…
Animal activists face new trespass fines
MELBOURNE, AAP – Animal activists caught trespassing on Victorian farms will face fines of up to $10,904 per individual and more than $50,000 per organisation, under new laws. The Livestock Management Amendment (Animal Activism) bill passed through parliament’s upper house on Tuesday night. The bill aims to deter animal activists from trespassing on farms, with…
Oil price rise hampers ASX sentiment
SYDNEY, AAP – A rise in oil prices has dampened investor sentiment but the Australian share market has done better than Wall Street. The market was little changed on Thursday after oil prices rallied five per cent overnight, last trading at $US123.29. Oil jumped after storm damage at Kazakhstan’s Caspian Pipeline Consortium terminal stopped crude…
Qld groups seek national housing summit
BRISBANE, AAP – Queensland’s peak industry and community bodies are urging the federal government and opposition to convene a national housing summit to deal with the worsening crisis in the state. The Local Government Association of Queensland sent a letter on Tuesday to federal housing minister Michael Sukkar and Labor’s housing spokesman Jason Clare calling…
Vacancy data to give jobs outlook clues
CANBERRA, AAP – The Reserve Bank of Australia and Treasury expect the unemployment rate will drop below four per cent in coming months to levels not seen since the early 1970s. The most recent official figures show the jobless rate fell to four per cent, a level not seen for almost 14 years. The skilled…
Telcos refund $6.5m after under-delivering
CANBERRA, AAP – Two major telecommunications companies will refund nearly 40,000 customers after charging them for internet speeds that weren’t being delivered. Optus and TPG have refunded their customers more than $4.4 million and $2.1 million respectively. Both companies failed to alert customers the speeds advertised in their internet plans could not be met on…
Federal funds of $5.4 billion for Qld dam
CANBERRA, AAP – The federal government has announced funding of $5.4 billion to build the Hells Gates Dam in North Queensland, creating more than 7000 jobs and opening up irrigation across three agricultural zones in the Burdekin. The government on Tuesday night said it would guarantee funding to build the dam in next week’s 2022/33…
Wall St gains; tech, growth shares lead
NEW YORK, RAW – US stocks have ended higher, led by a two per cent gain in the Nasdaq, as shares of technology and other big-growth names rebounded from recent losses and Nike rose after it reported upbeat results. Financial shares were also among the day’s best performers as the benchmark 10-year Treasury yield climbed…
