Another era of quantitative tightening beckons
The first one fizzled. Can asset-selling – aka money destroying – help fight inflation? Hurricanes Harvey, Irma and Maria may have devastated parts of the US in 2017 but the Janet Yellen-led Federal Reserve was determined to persist with an unprecedented way to tighten monetary policy. The central bank in October that year commenced selling…
Aust shares up for fourth straight day
SYDNEY, AAP – A fourth consecutive day higher for the Australian share market has the indices almost 300 points shy of the record set last year. The market was higher by 0.41 per cent to start the week as investors hoped for a peace deal in the Russia-Ukraine war that is keeping commodity prices elevated….
Asia cautious, yen near six-year low
SYDNEY, RAW – Asian share markets started the week in a cautious mood on Monday as investors clung to hopes for an eventual peace deal in Ukraine, but the fighting raged on with no sign of stopping. Turkey’s foreign minister on Sunday said Russia and Ukraine were nearing agreement on “critical” issues and he was…
Telstra, Optus aware of risk to satellites
CANBERRA, AAP – The United States has warned of possible threats to satellite communications (SATCOM) networks, with Australia’s biggest telecommunications firms already on heightened alert. “Telstra actively monitors the global threat environment and is aware of the advice published by CISA (US Cybersecurity and Infrastructure Security Agency),” a Telstra spokesman told AAP on Friday. Advice…
ASX ends higher, best week in 12 months
SYDNEY, AAP – A late spike on the Australian share market has ensured it closed at its highest level of the day. The market closed up 0.6 per cent on Friday after the commodity shares of energy and materials powered trade for much of the day. It was a third consecutive day of gains for…
Slight Shift In BoJ’s Inflation View-Change in China Zero Covid Policy?
Slight Shift In BoJ’s Inflation View The Bank of Japan left its main policy settings unchanged, but the statement reflects a slight shift in its views on inflation that read as a touch more persistent. However, this subtle change is still too early to drive a hawkish policy shift. The lack of a policy shift…
Reef in grip of another bleaching event
BRISBANE, AAP – Another significant bleaching event is unfolding on the Great Barrier Reef ahead of a key international visit to take the ecosystem’s pulse. Early results from monitoring work along the length of the 2300km World Heritage-listed reef show it is in trouble again. “Bleaching has been detected across the marine park – it…
ACCC action may improve user protection
SYDNEY, AAP – ACCC legal action against Facebook owner Meta for allowing scam cryptocurrency ads could set a precedent prompting online giants to better protect users. The Australian Competition and Consumer Commission (ACCC) will ask the Federal Court to impose hefty fines and orders for Meta allowing the ads, which showed people including David Koch…
Report flags super as home loan security
CANBERRA, AAP – Australians should be allowed to use their superannuation balance as collateral for a home loan, a parliamentary committee recommends. Home ownership is still part of the Australian dream but barriers like supply issues and increasing costs are making it difficult to become reality. Allowing people to use their superannuation as security for…
Aussies ‘lucky bastards’ as UK gas spikes
BRISBANE, AAP – Australians are “lucky bastards” to be avoiding the gas price crunch in Europe, according to the former British energy regulator. Dermot Nolan, ex-CEO of the UK Office of Gas and Electricity Markets (OFGEM), said on Friday the soaring gas price in the United Kingdom was now beyond the control of regulators and…
