Fuel refiners get $250m to shore up supply
CANBERRA, AAP – Two federal government grants of $125 million will go to two refiners in Queensland and Victoria to shore up Australia’s domestic supply of fuel. The grants will be matched by the Ampol refinery in Brisbane and the Viva Energy refinery in Geelong for major facility upgrades and to strengthen local production. Prime…
Wall St slumps as tough Fed actions loom
NEW YORK, RAW – Wall Street turned rally to sell-off, reversing earlier gains as impending monetary tightening from the Federal Reserve once again pulled growth stocks back into red territory. All three major US stock indexes turned from positive to negative early in the afternoon, weighed down by healthcare and financials. The turnabout began in…
Shanghai locals step outside as curbs ease
SHANGHAI, RAW – Some residents of Shanghai have stepped out of their homes for the first time in more than two weeks as the city takes tentative steps towards easing a COVID-19 lockdown amid mounting worries over the economic impact of the strict curbs. With a quarter of the population now in some form of…
ASX eases lower before US inflation data
SYDNEY, AAP – Broad-based losses plagued the Australian share market ahead of the latest US inflation figures, tipped to show a 40-year record. The ASX closed lower by 0.42 per cent on Tuesday and healthcare and technology stocks had the steepest losses. The benchmark S&P/ASX200 index closed down 31.2 points, or 0.42 per cent, to…
Qld plant will turn animal fat into fuel
BRISBANE, AAP – Animal fat used cooking oil and canola will be transformed into a sustainable fuel for planes and vehicles in an Australian-first project in central Queensland. The Oceania Biofuels plant will be built in the Yarwun Industrial Precinct in Gladstone, where it will convert feedstocks sourced from the east coast into sustainable aviation…
Consumers, business upbeat ahead of poll
CANBERRA, AAP – Business and consumers go into the federal election campaign in a reasonably upbeat mood, despite the usual uncertainties that a six-week run-in to polling day might throw up. Consumer confidence was underpinned by a further sharp drop in petrol prices in the past week, partly thanks to the temporary cut in fuel…
Airport passengers told to arrive earlier
SYDNEY, AAP – Passengers departing Sydney Airport are being advised to arrive earlier than usual as pandemic-related staff shortages continue to cause delays during the bumper school holidays ahead of the Easter long weekend. A Sydney Airport spokesman said there are aviation industry-wide staff shortages around the world. “We have significant COVID-related staff shortages and…
Oil, miners help Australian shares higher
SYDNEY, AAP – Australia’s share market traded higher at noon as firming commodity prices helped boost heavyweight mining and energy stocks. The benchmark S&P/ASX200 index was up 13.2 points, or 0.18 per cent, to 7467.2 by 1200 AEST. The All Ordinaries index was higher by 21.6 points, or 0.28 per cent, to 7757.1. Local investors…
Bleaching in deep waters off Tasmania
HOBART, AAP – Scientists have recorded bleaching for the first time in sponges in deep-shelf waters off Tasmania, in what is likely a “canary-in-the-coal-mine” sign of stress from underwater heat waves. Waters off the island state’s east are considered a global hotspot for marine climate change as the East Australian Current pushes further south. An…
Elon Musk’s Twitter turnabout
PROVIDENCE, AP – WHY DIDN’T ELON MUSK JOIN THE TWITTER BOARD? Musk said he informed Twitter on Saturday he would not be joining its board of directors, after being invited five days earlier, according to a financial disclosure. He did not explain why but the Saturday decision coincided with a barrage of now-deleted tweets from…
