Call for housing to be election priority
CANBERRA, AAP – The housing industry believes home ownership should be made a priority whoever wins the federal election due in May. The Housing Industry Association says its own research shows three-quarters of Australians believe people should be able to own their own home. Of those respondents currently renting, 85 per cent aspire to own…
ASX eases lower after US inflation record
SYDNEY, AAP – Shares on the Australian market were a little lower after surging US inflation figures and little progress in Ukraine peace talks dampened sentiment. The market was down 0.35 per cent on Friday and losses would have been greater if not for the heavyweight miners’ gains. Most world markets were lower after a…
Myer H1 earnings bring back dividends
SYDNEY, AAP – Myer shareholders will receive their first dividend in four years after first-half sales improved. The department store chain on Thursday declared first-half sales rose by eight per cent to $1.5 billion for the 26 weeks to January 29. Net profit was down 55 per cent to $32.3 million although the retailer said…
Twitter tries to bypass Russia’s block
SAN FRANCISCO, AP – Twitter has launched a privacy-protected version of its site to bypass surveillance and censorship after Russia restricted access to its service in the country. Russia has blocked access to Facebook and has limited Twitter in an attempt to try to restrict the flow of information about its war in Ukraine. Both…
A Real Ray of Light ( Markets, Oil, Gold, EUR)
Markets US equities were stronger Wednesday, S&P up 2.9% heading into the close. There was a more decisive outcome in Europe, Stoxx600 up 4.7%. US10yr yields rose 9bps to 1.93%, and oil prices fell 12.4%. There was no obvious trigger for better sentiment, though perhaps a real ray of light related to today’s peace talks…
Will bank brokerage ever catch up with discount brokerages in Australia
The financially and mentally turbulent period since March 2020 has had a massive impact on retail trading patterns – in Australia and globally. 2020 and 2021 were the perfect storm of events colliding. From grave concern about the future of the economy, to unprecedent central bank support, to the fastest V-shape recovery in the history…
Climate ‘on steroids’ drives extreme flood
BRISBANE, AAP – A new report has detailed the extraordinary nature of Australia’s flood crisis, calling it one of the most extreme disasters in the nation’s history. The Climate Council says thousands more Australians now have lived experience of a climate system that has been super-charged by global warming. It says climate change is firmly…
IMF approves $US1.4bn for Ukraine
LVIV, RAW – The International Monetary Fund (IMF) has approved $US1.4 billion ($A1.9 billion) in emergency support for Ukraine to finance expenditures and shore up the balance of payments, Central Bank Governor Kyrylo Shevchenko says. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on…
Wall Street rebounds on bank, tech boost
NEW YORK, RAW – Wall Street’s main indexes have rallied as investors pile into banking and technology sectors that have suffered sharp losses this week on concerns about the fallout from the Ukraine crisis, with sentiment lifted by a fall in oil prices. Ten of the 11 major S&P sectors advanced in early trading. Financials…
RBA stays focused on lower jobless rate
CANBERRA, AAP – Reserve Bank of Australia governor Philip Lowe concedes there are risks to the economy by delaying a rise in interest rates at a time when inflation is accelerating. But he says there is also a risk of moving too early. “Australia has the opportunity to secure a lower rate of unemployment than…
