Plug for local power hubs as poll drawcard
CANBERRA, AAP – Federal political hopefuls in regional Australia are being urged to support local power hubs as a way of getting more for their community from the renewable energy boom. “The vast bulk of our new renewable energy system is already beginning to be built in regional Australia,” Community Power Agency director Jarra Hicks…
AGL could exit coal by 2030 without buyout
CANBERRA, AAP – AGL Energy should choose a third option that could add up to 50 per cent to the share price, investment firm and shareholder Snowcap says. London-based Snowcap has written to the board on Thursday to urge them to reject the $7.50 per share bid from the Brookfield and Grok Ventures consortium and…
NSW trains chaos continues as talks resume
SYDNEY, AAP – As the NSW trains remain running on a reduced service the NSW premier has doubled down on his view that the union is to blame for the entire network shutdown on Monday. Transport Minister David Elliott is meeting the Rail, Tram and Bus Union on Thursday to try to resolve the long-running…
Qantas HY loss widens to $1.28 billion
SYDNEY, AAP – Qantas has widened a half-year underlying pre-tax loss of $1.28 billion as the impact of COVID-19 lockdowns and emergence of the Omicron strain weighed on its finances. Revenue for the six months to December 31 rose 32 per cent to $3.07 billion, boosted by a record performance in its freight business and…
Wall Street ends sharply lower
NEW YORK, RAW – Wall Street indexes ended sharply lower on Wednesday as Ukraine declared a state of emergency and the US State Department said a Russian invasion of Ukraine remains potentially imminent. The State Department added that Washington has not seen any indication of Russians backing away, while the White House said President Joe…
Fate of Vic housing levy ‘very uncertain’
MELBOURNE, AAP – Victoria’s proposed housing levy could be shelved, with the premier accusing the property sector of going back on its word to support reforms. The Victorian government last week announced plans to impose a 1.75 per cent levy on new developments of more than three dwellings to pay for the construction of thousands…
ASX recovers most losses, oil near $US100
SYDNEY, AAP – Australia’s share market recovered most of the losses of a day earlier despite economic sanctions being imposed on Russia for its invasion of Ukraine. The market on Wednesday gained 0.62 per cent and most share categories were higher. Brent crude oil prices were at a lofty $US97.10 per barrel as investors anticipated…
Stronger rules for digital giants: ACCC
CANBERRA, AAP – Australian consumers need more protection against powerful digital giants and unfair trading, the head of the consumer watchdog says. ACCC chair Rod Sims – in his final speech to the National Press Club before he retires from the role – outlined the main issues and challenges in sectors including energy, aviation, digital…
Australian shares slide amid Ukraine fears
SYDNEY, AAP – Australian shares slid nearly 2.5 per cent by mid morning amid a broad-based selloff over fears a full-scale Russian invasion would worsen the Ukraine crisis. By 1200 AEDT on Thursday, the benchmark S&P/ASX200 index was down 179.2 points, or 2.49 per cent, to 7026.5 points – its lowest level in more than…
NSW coast and waters off limits for mining
SYDNEY, AAP – The NSW government has banned offshore mining and exploration for petroleum, coal and other resources in waters off the state’s coastline. Deputy Premier Paul Toole announced the policy on Wednesday, formalising the coalition government’s long-held plan not to support such commercial activities. But sand mining for the purposes of preventing coastal erosion…
