Employers urged to embrace hybrid working
CANBERRA, AAP – Businesses should forget trying to return to “normal” and allow their employees to work from both home and office, one executive says. Telstra group executive for transformation, communications and people Alex Badenoch will tell business leaders “we don’t waste time debating who should be in the office and when”. In a speech…
Tesla leads as S&P 500 climbs again
NEW YORK, RAW – The S&P 500 has risen for a third day, as a sharp climb in shares of Tesla overshadowed weakness in energy and bank stocks, while Russia and Ukraine were poised to hold their first face-to-face peace talks in more than two weeks. Electric-car maker Tesla jumped 8.03 per cent and was…
ASX gains capped by rising bond yields
SYDNEY, AAP – Australia’s share market struggled to move higher as expectations of increased interest rates made bond yields more attractive than equities. The ASX was half a per cent higher for much of Monday but the indices tumbled late in the trading day. The Australian government 10-year bond yield rose to 2.87 per cent…
Low-emissions tech sector eyes tax break
CANBERRA, AAP – Developers of low-emissions technologies and other innovators may win tax breaks in the upcoming budget after months of lobbying. The aim is to attract investment and avoid a brain drain by encouraging businesses to do their R&D in Australia and keep intellectual property here. The “patent box” arrangements for medical and biotechnology…
New home buyers get deposit assistance
CANBERRA, AAP – The housing industry believes the federal government’s decision to extend its home guarantee scheme will make a real difference to the lives of thousands of Australians. Ahead of Tuesday’s federal budget the government announced up to 50,000 places will be available each year under the scheme which allows budding first home buyers…
ASX at highest level since mid-January
SYDNEY, AAP – Australia’s share market had climbed to its highest level since mid-January as investors feel more comfortable with a rising interest rate environment. A good lead from US markets helped the ASX200 rise to 7480.9 points in the first two hours of trading on federal budget day. The market was last at this…
Qld seeks more health funding in budget
BRISBANE, AAP – The Queensland government is ramping up pressure for health funding reform but has expressed doubt about transport funding in the federal budget. State Health Minister Yvette D’Ath is urging the Morrison government to cover half of the state’s public health care bill ahead of Tuesday night’s budget. She says the state currently…
Insurers seek support on cyber cover gap
CANBERRA, AAP – The insurance industry is calling for new standards and investment incentives to better protect Australian businesses from cyber gangs. Ransomware attacks and data theft are a growing threat to Australia amid unprecedented growth in digitisation and connectivity. But just one in five small businesses have cyber cover, and insurance providers are few,…
Newcastle to Sydney train gets $1b boost
SYDNEY, AAP – The Newcastle to Sydney train line will get a $1 billion boost in the Morrison government budget, to grow the capacity of the country’s busiest regional passenger rail corridor. The funding for upgrades between Tuggerah and Wyong would contribute to “faster, more frequent and more reliable services”, federal Minister for Urban Infrastructure…
Shanghai to lock down in two stages
SHANGHAI, RAW – China’s financial hub of Shanghai says it will lock down the city in two stages to carry out COVID-19 testing over a nine-day period, after it reported a new daily record for asymptomatic infections. Authorities said they would divide Shanghai into two for the exercise, using the Huangpu River that passes through…
