RBA warns of quicker, steeper rate rises
CANBERRA, AAP – On the eve of a tight election, the central bank has warned that rising prices and interest rates will make it harder for some borrowers to make payments. The quarterly Financial Stability Review released on Friday says with inflation higher and more persistent than expected, there is a risk that interest rates…
Labor pledges water, aged care reforms
CANBERRA, AAP – Federal Labor has pledged to restore 450 gigalitres of water to the Murray Darling Basin plan to ensure South Australia gets a fair share under the scheme. Opposition Leader Anthony Albanese also promised to establish a national water commission, should the party win office at the next election, with $26 million set…
Feds ‘must fund’ renewables infrastructure
CANBERRA, AAP – International investors will go to rival economies unless the Australian government plans and builds the infrastructure needed by future industries, a think tank warns. Renewable energy industrial precincts in the Hunter and Gladstone regions could attract $36 billion in investment, support 45,000 new jobs and earn $13 billion in annual revenue by…
ASX rebounds after fears of higher rates
SYDNEY, AAP – A warning about higher interest rates from the Reserve Bank has not deterred investors from pushing the share market higher. Commodity shares were leading the market about half a per cent higher on Friday after two consecutive days of losses for the indices. The Reserve Bank in its quarterly Financial Stability Review…
Inflation pressure a global challenge: PM
CANBERRA, AAP – Inflation pressures are a global issue and not just limited to Australia, according to the prime minister. Just days out from calling the election, Scott Morrison said there were multiple pressures on the national economy, in particular a looming rise in interest rates. However, he told Melbourne radio station 3AW similar pressures…
A retracement in oil prices aided US Stocks.
MARKETS Although the tape is incredibly messy, US stocks were supported by a limited rise in real yields, stable earnings expectations and some retracement in energy prices. The first-quarter earnings season kicks off next week, and, as always, Financials will get things started – almost a third of the XLF ETF reports. And with the…
Microsoft disrupts hacks by Russian spies
LOS ANGELES, RAW – Microsoft Corp says it has disrupted hacking attempts by Russian military spies aimed at breaking into Ukrainian, European Union, and American targets. In a blog post on Thursday, the tech firm said a group it nicknamed “Strontium” was using seven internet domains as part of an effort to spy on government…
Greens plan to return retirement age to 65
CANBERRA, AAP – Retirement could come sooner for more than half a million Australians under a new Greens proposal. The plan involves returning the retirement age to 65 from 67 years by 2026 and granting everyone earlier access to the age pension. That means expanding access to the pension to hundreds of thousands of older…
US stocks gain despite investor concerns
OAKLAND, RAW – The S&P 500 ended higher on Thursday, with Microsoft and Tesla fuelling a late-session rally while investors eyed the war in Ukraine and a potentially more aggressive Federal Reserve. Gains in Microsoft Corp, Tesla Inc and Apple Inc helped lift the S&P 500. Also supporting the S&P 500, Pfizer Inc jumped after…
Toyota class action bill could reach $2b
SYDNEY, AAP – Toyota could be forced to pay out thousands of Australian customers who were sold cars with faulty engine filters to the tune of $2 billion, after the auto giant lost a class action lawsuit. In a Federal Court judgment handed down on Thursday, Justice Michael Lee found 264,170 drivers who bought some…
