Asia shares skid as Ukraine tensions rise
SYDNEY, RAW – Asian share markets slid and oil surged amid warnings Russia was set to invade Ukraine, risking sanctions that could trigger a further spike in energy costs and stoke global inflation. Russia upped the ante in the high-stakes diplomatic game by extending military drills in Belarus, while satellite imagery from Maxar showed multiple…
PM invests $678m to part seal Outback Way
CANBERRA, AAP – The federal government is providing an additional $678 million to seal another 1000 kilometres of the Outback Way, a series of roads and dirt tracks that pass though Queensland, the Northern Territory and Western Australia. Prime Minister Scott Morrison said the government is committed to sealing the entire 2720 kilometres of the…
Retail sales grow despite Omicron impact
CANBERRA, AAP – Retail sales held up better than feared during January, faced with the highly infectious COVID-19 Omicron variant, and may now get a further fillip with the reopening of international borders. Australian Retailers Association CEO Paul Zahra concedes January was an up-and-down month for retailers, beginning the year with a surge in Omicron…
AGL to respond to surprise takeover offer
SYDNEY, AAP – Power company AGL Energy is the target of an $8 billion takeover bid from Australian tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield. The predators are offering $7.50 per share, according to multiple media reports. The AGL board is believed to have met on the weekend to consider the surprise offer…
Wall St lower amid Ukraine conflict fears
NEW YORK CITY, RAW – Wall Street has ended lower after escalating tensions in Ukraine and US warnings of a potential Russian invasion prompted investors to dump risky assets in the run-up to a long weekend. The Nasdaq fell sharply, pulled down by declines in high-growth stocks, including Apple, Amazon and Microsoft, each down around….
OPEC urged to stick to current output deal
RIYADH, RAW – OPEC+ should stick to its current agreement to add 400,000 barrels per day a month to output, Arab oil and energy ministers say as they gathered in Riyadh for the 2022 International Petroleum Technology Conference (IPTC). Iraqi oil minister Ihsan Abdul Jabbar said that “for the benefit of all the energy market,…
Baby formulas recalled due to bacteria
MELBOURNE, AAP – Australian health authorities are warning parents to stop feeding their babies three brands of formula as they may be contaminated with dangerous bacteria. Both Victorian and New South Wales health authorities issued alerts on Sunday night, after EleCare, Similac and Alimentum instant formulas were recalled. Manufacturer Abbott is conducting a precautionary recall…
Hopes of global tourism lift by year’s end
CANBERRA, AAP – Tourism Minister Dan Tehan says he’s hopeful of international visitor numbers getting back to a pre-pandemic level by the end of the year. Australia will be open to all fully vaccinated tourists, business travellers and other visitors from February 21. Visa holders who are not fully vaccinated will still require a valid…
ASX drops one per cent on Ukraine fighting
SYDNEY, AAP – Australia’s share market closed near its lowest levels of the day after shelling in Ukraine heightened the uncertainty of a Russian invasion. The market closed one per cent lower on Friday and every share category was down after Russian-backed rebels and Kyiv government forces continued trading fire. European and US leaders have…
Social housing levy on new Vic home builds
MELBOURNE, AAP – A proposed levy on new builds in Victoria to fund social housing has been hailed as “groundbreaking” by community groups, while property bodies say the reforms will hike prices for first homebuyers. Planning Minister Richard Wynne on Friday announced a 1.75 per cent contribution will be imposed on new developments to pay…
