Life-saving medicines to be made locally
SYDNEY, AAP – A slew of medicines to treat illnesses like cancer and kidney disease will now be manufactured here in Australia in a move the government says will future-proof the country’s access to life-saving treatments. Currently, Australia imports more than 90 per cent of its medicines, but the recent global pandemic made it evident…
Wall St rises amid strong jobs news
NEW YORK, RAW – The S&P 500 has risen modestly to kick off the second quarter, as the monthly jobs report indicated a strong labour market and is likely to keep the Federal Reserve on track to maintain its hawkish policy stance. The Labor Department’s employment report shows a rapid hiring pace by employers while…
ASX edges higher but gains limited
SYDNEY, AAP – The Australian share market has started on a positive note in a week in which central banks’ forecasts for higher rates are likely to dominate discussion. The market was higher by about half a per cent by noon on Monday after a good lead from Wall Street from Friday following lower unemployment…
ASX little changed, US jobs data looms
SYDNEY, AAP – A mixed Australian share market has finished the day close to where it started as investors wait for US jobs data. Gains for the commodity shares of energy and materials offset losses for much of the market, particularly in consumer discretionaries and telecommunications. US monthly jobs data due on Friday night could…
NSW coal mine extended amid climate fears
SYDNEY, AAP – The NSW government has conditionally approved the expansion of a coal mine in the state’s north, with critics lambasting the move as “reckless” and “catastrophic”. The Narrabri underground mine, operated by Whitehaven for the past decade, produces 11 million tonnes of coal annually. Originally slated to mine coal until 2031, the Independent…
Oil, gas drilling permit off NSW refused
CANBERRA, AAP – The federal government has taken the final step to knock back a controversial oil and gas drilling permit off the NSW coast. The Petroleum Exploration Permit 11 (PEP11) between Newcastle and Wollongong had been the subject of vocal community opposition. Prime Minister Scott Morrison on Friday said he had taken the final…
Smaller cities lead growth in home values
CANBERRA, AAP – A lift in house values in the smallest cities has driven growth across the country, despite stalling values in Sydney and Melbourne. CoreLogic’s national Home Value Index released on Friday was up 0.7 per cent in March, driven by stronger conditions in Brisbane, Adelaide, Perth and the ACT, along with several regional…
Inflation rise in June quarter: Treasury
SYDNEY, AAP – Australia’s inflation rate is expected to tick higher in the June quarter but the increase will be capped by a cut in the fuel excise announced this week. “Our central forecast is for inflation to pick up to four-and-a-quarter per cent through the year in the March quarter and June quarters,” Treasury…
Bullock appointed Reserve Bank deputy
CANBERRA, AAP – Michele Bullock has become the first female deputy governor of the Reserve Bank of Australia. Treasurer Josh Frydenberg announced Ms Bullock to replace retiring deputy Guy Debelle on Friday. She joined the central bank in 1985 as an analyst and has been an assistant governor since 2010. Ms Bullock is also a…
ASX stagnant, inflation concerns persist
SYDNEY, AAP – There was little to smile about for those trading the ASX200 on April Fools’ Day as the market seemed unwilling to stay above 7500 points. The market eased marginally to 7489.9 points on Friday, a day after closing at 7499.5 points. Most shares categories were lower after US markets fell by more…
