More pain for drivers as oil prices rise
CANBERRA, AAP – Motorists are feeling even further pain at the bowser, and the signs are it will only get worse as global oil prices rise on escalating political tensions between the Ukraine and Russia. Prices hit a fresh seven-year highs on Monday with Brent crude oil above $US95 a barrel as speculation of Ukraine-Russia…
PM WeChat woes likely ‘terms, conditions’
CANBERRA, AAP – The head of the home affairs department says the prime minister’s WeChat troubles looks to be a case of terms and conditions, but couldn’t completely rule out foreign interference. Scott Morrison was denied access to his WeChat account last year and was unable to regain control despite numerous attempts to contact parent…
ASX losses limited by BHP gains
SYDNEY, AAP – A hefty BHP first-half profit has helped limit losses on an Australian share market weighed down by worry over the prospect of conflict in Europe. Market giant BHP reported improved profit to $13.2 billion and raised its interim payout after an excellent performance at its Western Australian iron ore arm. The miner’s…
Asia stocks wary on Ukraine warnings
SYDNEY, RAW – Asian shares have slipped as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds and belted the euro. The United States on Sunday said Russia might create a surprise pretext for an attack, as it reaffirmed a pledge to defend “every inch” of NATO territory….
Treasurer mum on any budget tax cuts
CANBERRA, AAP – Treasurer Josh Frydenberg is keeping mum on media speculation that he will extend tax breaks for low income earners and slash the tax on beer. The treasurer will hand down the federal budget on March 29, earlier than its traditional release in May due to the upcoming federal election. The low and…
Crown seals takeover deal with Blackstone
SYDNEY, AAP – Casinos and gaming giant Crown Resorts has sealed terms for its takeover by global private equity group Blackstone. Under the deal, Blackstone will buy all of the listed shares in Crown for $13.10 cash each, valuing the Melbourne based group at $8.9 billion. This compares to a closing price of $12.39 on…
Budget needs investments, not cuts: ACOSS
CANBERRA, AAP – The federal government’s upcoming budget should focus on investing in critical services rather than tax cuts for the wealthy, says Australia’s peak welfare advocate group. In its budget submission to the federal treasury, ACOSS asks the government to take advantage of a “historic opportunity” to address longstanding inequality. Instead of tax cuts…
Wall St ends down on fears of Ukraine war
NEW YORK, RAW – Wall Street stocks have ended sharply lower for the second straight session, as investors fret about deepening tensions between Russia and Ukraine. Nine of the 11 major S&P 500 sector indexes declined on Friday, led by technology, down 3.0 per cent, and consumer discretionary, down 2.8 per cent. The energy sector…
Regional towns stretched by growing pains
ORANGE, AAP – At the peak of the drought, flashing signs were a daily reminder to residents in Orange that their water supply was dwindling. The signs, on main streets and in supermarket car parks around the city in central west NSW, lit up with ever-declining water storage levels. At its lowest point in…
Earnings and Guidance that Surprises
Regular followers of market news know that one of the unanticipated outcomes of the COVID 19 Pandemic was a stunning increase in the number of people investing in share markets in much of the world, particularly among the young. Professional financial services providers noted the need for educating the newcomers with companies like CBA’s (Commonwealth…
