Wheat farmers take heed of Ukraine tension
SYDNEY, AAP – Australian grain farmers are preparing for the main sowing season as global wheat prices trade near decade highs over concerns a Russian invasion of Ukraine would disrupt global exports. Russia and Ukraine account for about one-third of grains and oil seeds traded globally, which means any disruption to shipping caused by conflict…
Asia stocks rally as Ukraine fears ease
TOKYO, RAW – Asian shares have rallied as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief. The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises…
Gas vital for communities, economy: report
CANBERRA, AAP – The gas industry supply chain directly employs one in 54 working Australians and is critical for the viability of many regional communities, according to a report released on Tuesday. Just over 165,000 full time equivalent (FTE) jobs are directly supported as well as about 47,000 businesses, the research by Australian Economic Advocacy…
CSL earnings help ASX higher
SYDNEY, AAP – Market giant CSL has pleased investors despite lower first-half earnings and helped lead a broad-based rally on the Australian share market. The biotechnology company reported net profit declined by five per cent due to the coronavirus making blood collection difficult. Yet investors were more than satisfied and raised CSL shares six per…
Qantas extends Darwin-London flights
DARWIN, AAP – Qantas will continue to use Darwin as the departure point for its direct flights to London amid ongoing uncertainty on when Western Australia will lift its COVID-19 border restrictions. When international travel resumed in November last year, the airline temporarily re-routed its Perth to London service through the Territory capital. The Perth…
Seek H1 profit helped by tough job market
SYDNEY, AAP – Seek has upgraded its full-year earnings forecast after employers replacing workers cut earlier in the pandemic helped first-half profit. The online jobs business on Tuesday reported first-half profit rose 32 per cent to $88.1 million, helped by Australian employers hiring again after lockdowns. Chief executive Ian Narev said Seek’s key markets were…
Australia Post gets mental health officer
SYDNEY, AAP – Australia Post is appointing a chief mental health officer, the first government business enterprise to do so. Group CEO Paul Graham says the move reflects the increasing recognition of the importance of mental health and Australia Post is helping drive the culture change. The nation’s postal service was focused not only on…
BHP H1 profit soars, lifts dividend
SYDNEY, AAP – Australian miner BHP Group has delivered a massive $US9.4 billion ($13.2 billion) first-half profit partially off the back of its iron ore operations. The 2021/22 interim result, which excludes the petroleum business being offloaded to Western Australia’s Woodside Petroleum, was up 144 per cent from the same period in 2020/21. “BHP has…
RBA minutes to be scanned for rate clues
CANBERRA, AAP – Economists will be scrutinising the latest Reserve Bank of Australia board minutes for further views on the inflation outlook, as they try to nail down the likely timing of the first official interest rate rise in a decade. However, economists admit it might be difficult to find anything new in Tuesday’s report…
Wall St mixed amid easing in tensions
NEW YORK CITY, RAW – US stock indexes were mixed in volatile trading on Monday amid concerns about higher interest rates, while comments from a Russian official eased worries about a possible invasion on Ukraine. Seven of the 11 major S&P sectors declined in early trading, with energy shares down 2 per cent as oil…
