Mineral strength pushes ASX higher at noon
SYDNEY, AAP – The Australian share market has moved higher midway through the session, underpinned by strong metal and mineral prices, after trading resumed following the Easter break. The benchmark S&P/ASX200 index rose 53.6 points to 7577 at noon on Tuesday, up 0.71 per cent from Thursday’s close, as oil prices and gold futures rallied….
New mines key to health, welfare: Joyce
CANBERRA, AAP – Deputy Prime Minister Barnaby Joyce says it is vital not to lose sight of how to pay for health and welfare as voters head to the polls on May 21. The incoming federal government will have a role in assessing at least three coal mines in Queensland. Renewable energy and phasing out…
Tesla investors ask judge to silence Musk
DETROIT, AP – A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case. Lawyers for stockholders of the Austin, Texas-based company also say in court documents that the judge in the case has…
Cash is king when inflation shifts higher
We continue to position the portfolio defensively with high levels of cash in the face of interest rate turmoil. Value is returning with the recent shifts higher in yields and corporate credit spreads, but we think it’s too early to position the portfolio with more interest rate and credit risk. Risks remain elevated March was…
The yield curve: a crystal ball for the next recession?
Ask an investor what they would most like to know in advance and the timing of the next recession might be high up their list. The correlation between the ups and downs of the stock market and the ebb and flow of the economy is not exact but there is clearly a link. Recessions are…
Powell seeking immaculate disinflation
His problem? Monetary policy is ill-suited to fight inflation arising from supply constraints. Federal Reserve Chair Jerome Powell appeared on March 3 before the Senate Banking Committee and vowed the US central bank would quell inflation running at four-decade highs. “We are going to use our tools,” he said. Then came a pointed question. Would…
Technically the unemployment rate begins with a 3
The official employment figures say the unemployment rate for March was 4.0%, exactly the same as a month earlier. But if you’re prepared to download the spreadsheet and work it out, you’ll find that expressed to two decimal places the rate actually fell, from 4.04% to 3.95%. The Bureau of Statistics confirms this by saying…
Morning airport peak hour passes smoothly
SYDNEY, AAP – The expected rush at the country’s busiest airports has passed after fears of Easter holiday chaos but continued staff shortages meant some travellers arrived at destinations without their bags. Sydney Airport said people had been passing through security inside 45 minutes as large queues moved smoothly on Good Friday. Customers had been…
Retailers to enjoy Easter sales boost
CANBERRA, AAP – Retailers can expect a $7.1 billion boost over the Easter long weekend as many Australians get away for the first time in two years. Research by the Australian Retailers Association and pollster Roy Morgan estimate $1.5 billion will be spent on food alone, including seafood, hot-cross buns and Easter eggs. About one…
Musk makes $US43 billion offer for Twitter
NEW YORK CITY, RAW – Billionaire entrepreneur Elon Musk took aim at Twitter Inc with a $43 billion ($A58 billion) cash takeover offer, with the Tesla CEO saying the social media company needs to be taken private to grow and become a platform for free speech. “I think it’s very important for there to be…
