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…
Visa, Amazon announce global payment deal
NEW YORK CITY, AP – Visa Inc. and Amazon.com Inc. have announced an agreement that allows customers to use Visa cards on Amazon sites worldwide without additional fees. The companies also agreed to collaborate on product and technology initiatives for “innovative payment experiences,” Visa said in an email. Credit card fees have been a growing…
Magellan raises H1 profit, defies setbacks
SYDNEY, AAP – Magellan Financial Group has overcome recent turmoil to post a higher first-half profit and is offering sweeteners such as options to shareholders who stayed loyal. Magellan on Friday reported net profit rose 24 per cent to $251 million despite losing boss Brett Cairns, a major contract and substantial share price value in…
ASX down 1pc as investors watch Ukraine
SYDNEY, AAP – Shares were down one per cent on the Australian market as investors stepped up their selling after troops started trading fire in Ukraine. All ASX share categories were down on Friday, following world markets lower, after the US warned Russia was preparing to invade its neighbour. European and US leaders continue to…
Firms want skilled migration cap lifted
CANBERRA, AAP – Big business wants the level of skilled migration temporarily ramped up to catch up on the lost workforce during the COVID-19 pandemic to overcome acute worker shortages. The Business Council of Australia, in its submission to the 2022/23 budget, wants the annual permanent skilled migration cap raised to 220,000 in the next…
Ice core data research flips drought risk
MELBOURNE, AAP – Climate data gleaned from deep within 2000 year old Antarctic ice has revealed that Australia’s drought risk is far worse than previously thought. The research points to future drought periods that could be nothing short of “catastrophic” for catchments in eastern Australia, according to lead scientist Dr Anthony Kiem from the University…
NSW businesses welcome COVID rule easing
SYDNEY, AAP – Business groups have welcomed the early easing of restrictions across NSW, saying it has been “tumultuous” trading within the COVID-19 rules. Dancing and singing are back in NSW on Friday, as a number restrictions are rolled back earlier than expected across the state in time for the weekend. NSW Premier Dominic Perrottet…
Wall St slides as Ukraine tensions weigh
NEW YORK, RAW – US stocks have slid, with the S&P 500 marking its biggest daily percentage drop in two weeks, as investors shifted to defensive sectors and safe havens such as bonds and gold as geopolitical tensions between Washington and Russia over Ukraine flared. After Ukrainian forces and pro-Moscow rebels traded fire in eastern…
ASX gains slashed after shelling reports
SYDNEY, AAP – A sudden drop in the ASX indices following reports of shelling in Ukraine has wiped almost all the earlier gains. The market closed only marginally higher on Thursday after investors reacted to reports that Ukraine government forces shelled Russian-backed rebels. European and US leaders earlier this week said Russian forces gathered on…
Climate change pushes NSW temperatures up
SYDNEY, AAP – Climate change has pushed temperatures in NSW 1.1C higher than last century but greenhouse gas emissions are dropping. The latest State of The Environment report issued by the NSW Environment Protection Authority on Thursday found greenhouse gas emissions dropped by 17 per cent compared to 2005. The report also found the share…
