Oil price rise hampers ASX sentiment
SYDNEY, AAP – A rise in oil prices has dampened investor sentiment but the Australian share market has done better than Wall Street. The market was little changed on Thursday after oil prices rallied five per cent overnight, last trading at $US123.29. Oil jumped after storm damage at Kazakhstan’s Caspian Pipeline Consortium terminal stopped crude…
Qld groups seek national housing summit
BRISBANE, AAP – Queensland’s peak industry and community bodies are urging the federal government and opposition to convene a national housing summit to deal with the worsening crisis in the state. The Local Government Association of Queensland sent a letter on Tuesday to federal housing minister Michael Sukkar and Labor’s housing spokesman Jason Clare calling…
Vacancy data to give jobs outlook clues
CANBERRA, AAP – The Reserve Bank of Australia and Treasury expect the unemployment rate will drop below four per cent in coming months to levels not seen since the early 1970s. The most recent official figures show the jobless rate fell to four per cent, a level not seen for almost 14 years. The skilled…
Telcos refund $6.5m after under-delivering
CANBERRA, AAP – Two major telecommunications companies will refund nearly 40,000 customers after charging them for internet speeds that weren’t being delivered. Optus and TPG have refunded their customers more than $4.4 million and $2.1 million respectively. Both companies failed to alert customers the speeds advertised in their internet plans could not be met on…
Federal funds of $5.4 billion for Qld dam
CANBERRA, AAP – The federal government has announced funding of $5.4 billion to build the Hells Gates Dam in North Queensland, creating more than 7000 jobs and opening up irrigation across three agricultural zones in the Burdekin. The government on Tuesday night said it would guarantee funding to build the dam in next week’s 2022/33…
Wall St gains; tech, growth shares lead
NEW YORK, RAW – US stocks have ended higher, led by a two per cent gain in the Nasdaq, as shares of technology and other big-growth names rebounded from recent losses and Nike rose after it reported upbeat results. Financial shares were also among the day’s best performers as the benchmark 10-year Treasury yield climbed…
Evergrande to miss results deadline
HONG KONG, RAW – Embattled developer China Evergrande will not be able to publish its financial results for last year by March 31, as required by stock listing rules, as audit work has not yet been completed, the company has announced. Its two Hong Kong-listed units, China Evergrande New Energy Vehicle Group and Evergrande Property…
Call to be wary of ‘hype’ on crypto reform
SYDNEY, AAP – Financial technology start-ups have been warned against complacency amid the “buzz and hype” of reform promised by a federal government facing a tough election. Regulatory uncertainty is still one of the biggest challenges for crypto, according to the former federal official behind the national blockchain road map. Keynote speaker Chloe White, now…
BHP leads resources charge, ASX higher
SYDNEY, AAP – A rousing performance from BHP and commodity stocks have powered the ASX higher for a fourth day in the past five. Market heavyweight BHP added five per cent to $48.82 on Tuesday and materials shares gained three per cent as the war in Ukraine kept commodity prices higher. A big rise in…
ASX upswing continues despite commodities
SYDNEY, AAP – Australian shares were higher for a fifth day of the past six but were without the support of the commodity shares which have propelled recent rallies. The market was better by about half a per cent and technology shares were best after Wall Street markets closed higher overnight. Investors have not been…
