Second Sydney train shutdown a possibility
SYDNEY, AAP – A fresh spat between the NSW government and the union could see the city’s train network shut down again, the state’s transport minister has claimed. Transport Minister David Elliott says new threats of industrial action on the city’s rail network could lead to rail operators from Transport for NSW shutting down all…
Consumers fret over inflation, RBA unsure
CANBERRA, AAP – Even the Reserve Bank of Australia is unsure about how persistent the pick-up in inflation will be as a result of Russia’s invasion of Ukraine war. This comes of little help to households who are already fretting over cost of living pressures as rising petrol prices alone eat into their budgets. The…
Asia shares up ahead of US Fed meeting
SHANGHAI, RAW – Asian share markets rose on Wednesday on a rebound in battered Chinese stocks and ahead of a closely watched meeting of the US Federal Reserve, while oil prices remained volatile as investors’ weighed the outcome of peace talks on Ukraine. Ukrainian President Volodymyr Zelenskiy said on Wednesday that peace talks were sounding…
Value of Australia’s housing market swells
CANBERRA, AAP – The value of Australia’s housing market now stands at close to $10 trillion after growing at the fastest annual pace in at least 18 years during 2021. The Australian Bureau of Statistics said residential property prices rose 23.7 per cent through 2021, the strongest annual growth since its records began in the…
Oil pressure on fiscal, monetary levers
CANBERRA, AAP – Australia has some of the world’s lowest petrol and diesel taxes, potentially throttling federal efforts to provide cost of living relief. Liberal premiers Dominic Perrottet, Steven Marshall and Peter Gutwein have asked for fuel excise cuts. In New Zealand, petrol excise duty and road user charges have both been cut for three…
ASX down, miners and energy weigh
SYDNEY, AAP – Australia’s share market has recovered some early losses after Reserve Bank meeting minutes showed plenty of caution over the prospect of a rate rise. The market had improved to be lower by 0.55 per cent on Tuesday following most Wall Street indices closing lower during a week in which US rates are…
ASX up one per cent, helped by strong lead
SYDNEY, AAP – A broad-based rally has helped Australian shares higher by more than one per cent after strong US leads. ASX technology shares fared best and were up three per cent after Wall Street closed higher on lower than expected inflation figures and easing oil prices. Afterpay owner Block was up seven per cent…
US dollar surges, Europe bounces ahead of Fed decision
The US dollar hit five-year highs against the Japanese Yen overnight ahead of tomorrow’s almost certain increase in interest rates by the US Federal Reserve. European stocks rose for a second session in potentially corrective moves, lifting the Euro as well. However, US investors were unconvinced, and Asia Pacific futures markets point to a mixed…
Perth to get $4.3b dry dock facility
CANBERRA, AAP – The federal government is committing $4.3 billion for a new dry dock facility in Perth’s south ahead of the upcoming budget on March 29. The government expects the project will support 2000 direct jobs when it’s built and 500 during the peak of construction. It would be the country’s second dry dock…
Labor pork-barrelling ‘exactly the same’
CANBERRA, AAP – The Morrison government has accused Labor of playing “cheap politics” by criticising grants awarded in marginal seats as the opposition unveils its spending commitments ahead of the next federal election. It comes as Nine newspapers report that Labor’s spending strongly favours marginal and target electorates. Finance Minister Simon Birmingham has gone on…
