Workers in driver’s seat on wage demands
CANBERRA, AAP – Low unemployment, high vacancy rates and growing cost of living pressures have put workers in the driver’s seat when it comes to salary demands. A survey by consultants Robert Half found just over four in five employers think candidates for new jobs have become more demanding when it comes to negotiating salary…
Federal budget improves in red-hot economy
CANBERRA, AAP – A stronger-than-expected economy, a falling unemployment rate to historic lows and a commodity price boom as the result of the Russia-Ukraine war has the revenue dollars rolling in for Josh Frydenberg’s fourth budget. The treasurer will present the budget on Tuesday, and just days out from Prime Minister Scott Morrison calling what…
A US Olive Branch to China
MARKETS US equities were weaker Wednesday, S&P down 1.2%. US10yr yields fell back 9bps to 2.29%. Oil up 5.1% after Russia indicated it had temporarily limited capacity on a significant pipeline after storm damage. As traders digest higher yields and higher inflation signals via the oil price channel, stocks are lower. We may see volatility…
Childcare, housing, thorns in country life
ORANGE, AAP – Samantha Burns felt a strong pull back to country Australia. “I just couldn’t get it out of my being,” the businesswoman tells AAP. Ms Burns had been planning to return to her rural roots for years, and looked to move from Sydney to Orange, in central west NSW, in 2019. But two…
Wall St drops amid oil rally, war concerns
NEW YORK, RAW – All three major US stock indexes have ended more than one per cent lower as oil prices jumped and Western leaders began gathering in Brussels to plan more measures to pressure Russia to halt its conflict in Ukraine. Responding to sanctions that have hit Russia’s economy hard, President Vladimir Putin said…
Star let junket with laundering risk go on
SYDNEY, AAP – An agreement with a junket operator linked to Asian triad gangs was renewed despite a high risk of money laundering taking place in the private room where they operated in Star’s Sydney casino. Agreements between the casino and the Suncity junket operator that brought foreign high-rollers in to gamble forbade the group…
Regional newspapers need support: inquiry
CANBERRA, AAP – The federal government should support regional newspapers through a greater share of advertising, funds for research, targeted grants and even tax rebates. That’s the finding of a multi-party inquiry into the struggling media sector which reported to federal parliament on Wednesday. Communications committee chair Dr Anne Webster said regional newspapers had experienced…
Aust shares higher for fifth day in six
SYDNEY, AAP – Shares closed higher for the fifth day of the past six on the ASX, although the gains were least of the recent positive period. A broad-based rally on Wednesday helped the market higher by half a per cent and overcame a negative contribution from commodity shares. Technology shares were best and closed…
The resilience of equity markets chimes with credit markets
MARKETS US equities were stronger Tuesday, S&P up 1.1%. Bonds sold off again: US10yr yields up another 9bps to 2.38%, 2yrs up 4bps to 2.16%. Oil little changed. ( At New York Close) A beat on Richmond Fed manufacturing, up 12pts to +13 in March, consistent with the more robust Philly Fed print last week,…
Animal activists face new trespass fines
MELBOURNE, AAP – Animal activists caught trespassing on Victorian farms will face fines of up to $10,904 per individual and more than $50,000 per organisation, under new laws. The Livestock Management Amendment (Animal Activism) bill passed through parliament’s upper house on Tuesday night. The bill aims to deter animal activists from trespassing on farms, with…
