Power play moves Aust ‘beyond the quarry’
CANBERRA, AAP – Rapidly overhauling Australia’s largest electricity generator and biggest carbon emitter will bring jobs “far and wide” in rural Victoria and NSW, the billionaire bidder for AGL Energy says. But Environment Minister Sussan Ley on Tuesday said she did not want rapid decarbonisation to be at the expense of everyday standards of living…
Coles’ half year profit slips 2.0 per cent
SYDNEY, AAP – Supermarket giant Coles has posted a 2.0 per cent drop in half year profit to $549 million, hit by higher costs due to the COVID-19 disruptions, and expenses of its transformation projects. Sales for the 27-week period to January 2 rose 1.0 per cent to $20.79 billion. Comparable sales also rose 1.0…
Trump’s Truth Social app launches
WASHINGTON, D. C., RAW – Donald Trump’s new social media venture, Truth Social, has launched in Apple’s App Store, potentially marking the former president’s return to social media after he was banned from several platforms last year. The app was available to download shortly before midnight on Sunday and was automatically downloaded to Apple Inc…
Long road ahead for tourism recovery
CANBERRA, AAP – International tourists have been welcomed back to Australia after almost two years but experts warn the tourism industry will feel the effects of the border closure for years to come. On Monday, flights of double vaccinated travellers were greeted at airports across the country by jubilant well-wishers waving Tim-Tams, jars of Vegemite…
NSW trains back on a limited service
SYDNEY, AAP – Limited train services will run across Greater Sydney on Tuesday after the network was shut down on Monday amid an industrial dispute between the state government and a transport union. The snap train network shutdown, ordered by state government transport authorities, caught rail commuters unawares, with many left stranded across Sydney, Newcastle,…
Govt tags $800m for Antarctic research
CANBERRA, AAP – The federal government will put aside $800 million for strategic and scientific research and exploration in Antarctica. Environment Minister Susan Ley said new drones and helicopters will allow researchers to go inland into areas they haven’t been before and set up mobile base stations. But she said the investment also strengthened the…
Wall St futures, euro rally on summit hope
LONDON, RAW – US stock index futures rallied, the euro rose and global stocks steadied on Monday as a glimmer of hope emerged for a diplomatic solution to the Russia-Ukraine standoff. US President Joe Biden and Russian President Vladimir Putin have agreed in principle to hold a summit on the Ukraine crisis. The Kremlin said…
ASX inches up after US-Russia meet agreed
SYDNEY, AAP – Australia’s share market closed higher as investors welcomed news the US and Russia will meet to try and resolve the Ukraine standoff that has kept oil prices soaring. The gains were incremental on Monday while AGL shares surged after tech billionaire Mike Cannon-Brookes made an unsuccessful takeover bid. Abroad, global investors remain…
Super Retail H1 profit down, costs rise
SYDNEY, AAP – Super Retail Group has had first-half profit dive 35 per cent and warns higher freight and transport costs will continue to affect margins. The company behind BCF, Macpac, Rebel and Supercheap Auto said COVID-19 lockdowns and higher costs contributed to a lower net profit after tax of $110.8 million for the six…
ASX lags after Russians enter Ukraine
SYDNEY, AAP – There was plenty of concern among share market investors after Russian troops entered Ukraine and the ASX languished. The market was down 0.81 per cent on Tuesday following Russian troops moving to two breakaway regions in eastern Ukraine after recognising them as independent. European and US leaders have for weeks been warning…
