Inland Rail to cut $200m from freight cost
CANBERRA, AAP – Freight transport costs could be slashed by more than $200 million per year as part of a shift from road to Inland Rail, according to new research. Modelling carried out by the CSIRO found the 1700km Inland Rail network would cut the cost of 22 million tonnes of freight transport by $213…
Tech, growth stocks lead Wall St lower
NEW YORK, RAW – Major US stock indexes closed mostly lower on Monday, led by a more than two per cent drop in Nasdaq, as investors sold tech and big growth names ahead of this week’s Federal Reserve meeting and an expected hike in interest rates. The Dow ended flat, with financial and healthcare shares…
Aust shares have best day in six weeks
SYDNEY, AAP – Banks and biotechnology giant CSL helped the ASX to its biggest gain in six weeks despite the inflationary ramifications of war in Ukraine and a rate rise tipped for the US this week. A broad-based rally on Monday helped the indices improve by more than one per cent and better most Asian…
Pension boost as inflation rises
CANBERRA, AAP – Pensioners will see a $20 per fortnight boost to their payments from Sunday as the federal government raises the welfare payment. Australia’s aged and disability support pensions, along with carer’s payments, will rise from March 20 to cover rising inflation. The boost means a $20.10 per fortnight increase for individuals to $987.60…
Markets fall on Ukraine war, rate worries
NEW YORK, RAW – World shares slid on Friday, pressured by uncertainty about the conflict in Ukraine and expectations the Federal Reserve will hike US interest rates next week. The Nasdaq and the S&P 500 fell, weighed down by tech and growth stocks. Oil prices settled up for the day but down for the week…
Fuel relief decision put off until budget
CANBERRA, AAP – Prime Minister Scott Morrison says any decision to ease pressure on sharply rising petrol prices won’t be announced until the federal budget. The prime minister’s comments came after two Nationals MPs called on the federal government to cut the fuel excise as petrol prices continue to climb towards $2.20 a litre due…
NSW roads not $1.4b over budget: minister
SYDNEY, AAP – The NSW infrastructure minister denies the cost of three Sydney road projects have blown out by about $1.4 billion in the last financial year. Rob Stokes said the government’s M6, WestConnex and Sydney Gateway projects all remained within their budgeted figures for 2021/22, after a Transport for NSW spokesman told Nine Newspapers…
Why cutting the fuel excise could harm energy security
Australian petrol prices are rising as Russia’s invasion of Ukraine pushes up global oil prices. It’s likely motorists will be paying more than $2.15 a litre for unleaded petrol within a few weeks. In response, independent South Australian senator Rex Patrick has called on the federal government to halve the fuel excise on petrol for…
Stealth tax rises are eating into your income
A curious feature of the Australian tax system is “bracket creep”. Taxpayers whose income climbs by no more than prices (inflation) get no increase in their living standards. Instead, they see more and more of their income pushed into their highest tax brackets, or to even higher tax brackets. It means the government’s income from…
Investing mistakes during a crisis
Two things surprised me last Thursday morning that should not have done. The first was that Heathrow in February is around 20 degrees colder than Cape Town. I was not correctly dressed. The second thing I learned when my phone reconnected at Terminal 5 was that Russia had invaded Ukraine. Again, I might have expected…
