Wall Street down despite solid jobs data
NEW YORK, RAW – Wall Street ended lower as the war in Ukraine overshadowed an acceleration in US jobs growth last month that pointed to strength in the economy. Most of the 11 major S&P sector indexes declined on Friday, with financials leading the way. Banks extended recent losses as investors worried about how the…
TikTok suspends streams, uploads in Russia
KYIV, RAW – TikTok, the Chinese-owned video app, says it will suspend live-streaming and the uploading of videos to its platform in Russia as it reviews the implications of a new media law signed on Friday by President Vladimir Putin. “We have no choice but to suspend livestreaming and new content to our video service…
Russians race for cash on sanction fears
WASHINGTON, DPA – Long queues have formed anew at Russian cash machines as a growing list of international sanctions and business decisions to pull out of the country fanned fears that they would not be able to use their money for anything soon. American Express became the latest Western financial firm to announce the end…
US and Europe discuss Russian oil ban
WASHINGTON, RAW – The United States and European allies are exploring banning imports of Russian oil, US Secretary of State Antony Blinken says. The White House is also coordinating with key Congressional committees moving forward with their own ban. Europe relies on Russia for crude oil and natural gas but has become more open to…
Disrupted gas supplies will hit global prices
As economic sanctions on Russia escalate, there has been an attempt to isolate vital energy exports from the mix. This may be wishful thinking. US President Joe Biden last week said sanctions against Russia, including cutting off Russian banks and individuals from the global SWIFT transaction system, were “specifically designed to allow energy payments to…
How are markets adjusting to the ongoing crisis?
It’s been a week since Russia invaded Ukraine, and markets are still trying to adjust to the geopolitical crisis and shocking tragedy in the region. Trading across asset classes was volatile all week. U.S. stocks trended higher through Thursday despite choppy trading (especially in overnight sessions), while European stocks are at their lowest levels of…
Energy shares surge, ASX drops
SYDNEY, AAP – Energy stocks were soaring on the ASX along with oil prices as investors doubted the reliability of supply from Russia during its invasion of Ukraine. Energy stocks were up four per cent on Monday but little else as the global economic impact of the conflict in Europe continued to dominate attention. The…
Joyce says new school bridges health gap
ORANGE, AAP – A rural medical school in central west NSW will keep doctors in the bush and address “major equity” health problems in country Australia, Nationals leader Barnaby Joyce says. Mr Joyce officially opened the School of Rural Medicine at Charles Sturt University in Orange on Friday, telling medical students they will improve the…
Commodity prices slip and so does ASX
SYDNEY, AAP – Investors’ longest winning streak of the year on the ASX never looked like extending on Friday as traders decided soaring commodity prices had gone high enough. Oil prices eased and energy and materials shares closed lower after concerns Russia will be unable to maintain supply of its commodities had pushed prices higher…
Google suspends all ad sales in Russia
LOS ANGELES, RAW – Alphabet Inc’s Google says it has stopped selling online advertising in Russia, a ban that covers search, YouTube and outside publishing partners. The move on Thursday by the world’s top seller of online ads by revenue follows similar pauses in Russia by Twitter and Snap after Russia’s invasion of Ukraine. “In…
