EU renewables push to quit Russian energy
CAIRO, RAW – The European Union may set more ambitious targets for its transition to renewable energy as it seeks alternatives to imports of oil and gas from Russia. The EU’s 27 member states have agreed to collectively reduce their net greenhouse gas emissions by 55 per cent from 1990 levels by 2030, a step…
Travellers endure Sydney Airport queues
SYDNEY, AAP – Travellers are again facing long queues at Sydney Airport’s domestic terminal with staff shortages and school holidays combining to hold up ‘out-of-practice’ passengers. Qantas CEO Alan Joyce says delays at Sydney Airport which began last week, are in part because up to half the workforce is isolating due to COVID-19. “We’re getting…
Auto scam block to save Aussies $120m
MELBOURNE, AAP – Thousands of Australians are expected to save $120 million a year as part of a new banking system designed to stop online purchases from dodgy overseas sellers. From Monday, Westpac says its customers will have their credit and debit card transactions to overseas retailers automatically blocked if a scam is detected. They…
US stocks lower on Fed move concerns
NEW YORK, RAW – The Dow rose and the S&P 500 ended lower in choppy trade on Friday, as beaten-down bank shares gained and investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The yield on the benchmark 10-year US Treasury note…
Election campaign enters first full day
CANBERRA, AAP – Prime Minister Scott Morrison has underlined his government’s results in the face of the global pandemic, as the federal election campaign enters its first full day. Meanwhile, Opposition Leader Anthony Albanese will hit the ground in Launceston, campaigning in the critical electorate of Bass, while also seeking to highlight the government’s dysfunction…
The Lithium Juggernaut Powers On
Retail investors with a liking for commodity stocks should know the inherent risk of buying into a booming market. When the demand for steel seemed insatiable, Aussie investors feasted on iron ore stocks, especially the junior miners with more room to run. Steel demand is driven by construction projects, with the proliferation of building projects…
Four reasons to be positive on China
Was last week’s intervention by Chinese vice premier Liu He his ‘whatever it takes’ moment, the Asian equivalent of Mario Draghi’s unambiguous support for the Euro ten years ago? Investors certainly thought so. In a tumultuous week, Chinese shares delivered, first, their worst day and then their best in a decade. The market’s abrupt U-turn…
ASX stagnant, 10-year bond yield tops 3pc
SYDNEY, AAP – Australia’s share market has made a tame start to a shortened trading week after the 10-year government bond yield briefly surpassed three per cent. The market was marginally higher and mixed as the bond market showed investors expecting higher rates sooner amid annual inflation of 3.5 per cent. The 10-year government bond…
Summer sheep export resumption questioned
CANBERRA, AAP – The Morrison government will allow the resumption of live sheep exports to parts of the Middle East during summer months. The ban had been imposed in March 2020 under rules aimed at reducing animal deaths. Heat stress during the northern hemisphere summer became a key issue for the trade which was rocked…
Construction starts on new Qld coal mine
CANBERRA, AAP – The first sod has been turned on a new coal mine which has an expected operating life of nearly 80 years. The Olive Downs coal mine is a new project to produce metallurgical coal, used for steel making, located near Moranbah in central Queensland. The federal government provided a $167.5 million loan…
