Wall St retreats on Fed, Russia worries
NEW YORK CITY, RAW – Wall Street’s main indexes fell after US Federal Reserve Governor Lael Brainard said she expects rapid reductions to the central bank’s balance sheet, spooking investors already on edge about the prospect of fresh sanctions on Russia. The tech-heavy Nasdaq fell the most as expectations of quicker interest rate hikes dulled…
RBA warns watching inflation, wages data
CANBERRA, AAP – The Reserve Bank of Australia has indicated it will be assessing inflation and wage figures in coming months before raising interest rates. The RBA board left the cash rate at a record low 0.1 per cent at Tuesday’s monthly board meeting, as widely expected. RBA governor Philip Lowe said inflation has picked…
Shares drop after RBA loses patience
SYDNEY, AAP – Investors lost some enthusiasm for Australian shares after the Reserve Bank changed its language on lifting rates. The market was about half a per cent higher for much of Tuesday but dived after the Reserve Bank statement after its monthly meeting did not include the common refrain that it is prepared to…
Has the RBA reached peak hawkishness?
If investors think maximum hawkishness in market pricing for the major central banks has been reached, lower yields could be a critical pillar of support for global equities in April. Global fixed income remained well supported since the start of the month. Further gains in bond markets depend on two factors. First, whether CPI inflation…
Aust shares skid on rate hike worries
SYDNEY, AAP – Australia’s share market skidded on Wednesday as sentiment weakened amid heightened expectations of interest rate increases both globally and in the local market. The benchmark S&P/ASX200 index was down 56.9 points, or 0.79 per cent, to 7468.3 at 1200 AEST. The All Ordinaries index was lower by 64.7 points, or 0.83 per…
Musk takes nine per cent stake in Twitter
NEW YORK CITY, RAW – Tesla Inc boss Elon Musk has disclosed a 9.2 per cent stake in Twitter Inc, worth nearly $US3 billion ($A4.0 billion), making him the micro-blogging site’s largest shareholder and triggering a rise of more than 27 per cent in the company’s shares. Musk’s move, revealed in a regulatory filing, comes…
Santos secures licence for Dorado oil find
CANBERRA, AAP – A major new oil project off Western Australia is being hailed as an important step for the nation’s oil security. Federal Resources Minister Keith Pitt announced on Tuesday that Santos and its partner Carnarvon Energy now have a production licence covering the Dorado oil field, about 150km north of Port Hedland. Two…
Farmers lay out their election demands
CANBERRA, AAP – Farmers want more than $11 billion invested in rural Australia and have compiled a list of five priority areas they say need to be addressed for agriculture to thrive. The list of demands will be outlined by the National Farmers Federation at their two-day national conference starting in Canberra on Tuesday. Among…
Construction sector extends its recovery
CANBERRA, AAP – Australia’s construction sector continues to grow in the face of growing price pressures and difficulties in attracting and retaining skilled workers. The Australian Industry Group/Housing Industry Association performance of construction index rose by a further 3.1 points in March to 56.5, building on the recovery from a sharp fall during the summer…
Climate report a ‘file of shame’ -UN chief
NEW YORK, DPA – United Nations Secretary General Antonio Guterres has blasted politicians and businesses in the wake of a grave climate crisis assessment. “It is a file of shame, cataloguing the empty pledges that put us firmly on track towards an unliveable world,” Guterres said of the new Intergovernmental Panel on Climate Change (IPCC)…
