Labor rejects claims of power price rise
CANBERRA, AAP – Warnings of rising power prices are the latest in a climate scare campaign by the coalition ahead of the election, Labor says. The coalition released modelling on Tuesday which showed consumers would be financially worse off under Labor’s plan to increase the size of the transmission network. Energy Minister Angus Taylor said…
New hydrogen hubs announced for WA
CANBERRA, AAP – The locations of new hydrogen hubs and critical mineral grants will be unveiled by the prime minister in Western Australia as Scott Morrison says the developments will bring thousands of jobs to the sector. The Pilbara in the state’s north and Kwinana in Perth will become the home of two new hydrogen…
ASIC charges cryptocurrency lender
Melbourne-based cryptocurrency lender Helio Lending Pty Ltd has been charged with falsely claiming that it held an Australian credit licence (ACL) when it did not. Helio Lending offered cryptocurrency-backed loans to consumers, using the digital currency as security over the loan. ASIC alleges that around 20 February 2019, Helio Lending falsely represented on its website…
Clearer skies ahead as cruise ships return
MELBOURNE, AAP – While industries around the world have suffered during the pandemic, few have been hit harder than the cruise line sector which is celebrating its long-awaited return to Sydney harbour. On Monday, luxury cruise ship Pacific Explorer became the first to return to Australian shores since the COVID-19 pandemic brought the industry to…
Shanghai residents struggle under shutdown
SHANGHAI, DPA – Manufacturers including Tesla have begun preparing to reopen their Shanghai plants as China’s most populous city speeds up efforts to get back to normal after a nearly three-week COVID shutdown. The shutdown and measures to control the pandemic elsewhere in the country have hurt the economy and rattled global supply chains. Shanghai’s…
Rate rise hints sought in RBA minutes
CANBERRA, AAP – Economists will be scouring the minutes of the Reserve Bank board’s most recent meeting for hints on whether interest rates could rise soon. The minutes of the RBA board’s April monetary policy meeting will be released at 11.30am. NAB’s Tapas Strickland said the minutes would be scrutinised for any hints on whether…
Wall St ends low after topsy-turvy day
NEW YORK CITY, RAW – US stocks have closed down after flip-flopping throughout afternoon trading, as investors contrasted Bank of America’s positive earnings with surging bond yields ahead of further earnings cues this week. Market participants are bracing for a barrage of earnings that will help them assess the impact of the Ukraine war and…
Albanese ‘keeps it real’ on campaign trail
CANBERRA, AAP – Labor would continue an election campaign that “keeps it real” while the coalition rolls out its stage-managed events, a senior party figure says. Labor leader Anthony Albanese enters the second week of campaigning in Brisbane, having been criticised for a first week marred by a number of stumbles. A Resolve Strategic poll…
Musk tweets ‘Love Me Tender’
SAN FRANCISCO, RAW – Billionaire entrepreneur Elon Musk has posted a tweet saying “Love Me Tender”, days after he took aim at Twitter Inc with a $US43 billion ($A58 billion) cash takeover offer. After Musk’s TED talk on Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitter’s board…
Months of negotiation over axed sub deal
CANBERRA, AAP – Negotiations with a French company following Australia pulling out of a submarine deal are likely to extend well into the next financial year, according to the defence minister. Peter Dutton on Monday conceded talks with Naval Group about compensation costs for scrapping the previous $90 billion submarine deal would continue for several…
