Federal Court dismisses Facebook appeal
SYDNEY, AAP – Facebook has lost an appeal involving the Cambridge Analytica scandal after the Federal Court rejected its claim it does not conduct business in Australia or store Australian information. The Australian Information Commissioner is suing US-based Facebook Inc, now known as Meta, Facebook Ireland over the alleged breaching of 311,000 Australian user’s privacy….
Record retail sales in December quarter
SYDNEY, AAP – Retail sales in Australia have soared to 8.2 per cent in the December quarter, helped by festive shopping as cafes and restaurants reopened from Delta lockdowns in NSW and Victoria. Retail sales volumes climbed to the strongest quarterly rise on record, surpassing the previous mark set in the September 2020 quarter, data…
ANZ margins shrink in December quarter
SYDNEY, AAP – Australia and New Zealand Banking Group has flagged softer revenue and lower margins in the December quarter amid tough competition in the home loans market. ANZ said its net interest margin – a key measure of profitability – decreased 8 basis points compared to the average of the second half of the…
Asia eases, US jobs stunner hammers bonds
TOKYO, RAW – Asian share markets eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve. Geopolitics also remained a worry as the White House warned Russia could invade Ukraine any day and French President Emmanuel…
NSW gas-fired power plant gets final tick
SYDNEY, AAP – A $600 million gas-fired power plant in the NSW Hunter Valley has been given the final environmental tick of approval. Federal environment Minister Sussan Ley said the project at Kurri Kurri was approved after rigorous assessment and on condition the government-owned Snowy Hydro Limited meets the conditions established by the NSW government…
Delays as NSW train drivers take action
SYDNEY, AAP – Sydney commuters are facing delays as an already reduced public transport timetable is hit by ongoing industrial action. Members of the Rail, Tram and Bus Union are taking industrial action over the next two weeks, with bans on overtime, working with foreign rolling stock and working alongside contractors. NSW Transport Minister David…
Nasdaq regains ground after choppy week
NEW YORK CITY, RAW – Another bumpy ride on Wall Street has ended as Amazon’s positive earnings capped a run of mixed big-tech numbers, with the Nasdaq recovering much of its losses from the previous session and all three benchmarks ending the week in positive territory. Results from megacap growth stocks have dictated market moves…
The changing shape of income investing
Many trustees think about diversified portfolios in terms of risk management – which makes sense. But a well-diversified portfolio has the other big advantage of helping investors adapt to changing market conditions. In 2022, with significant shifts coming in markets, Perpetual Private expect a subtle change in how they generate income from portfolios. In this…
What’s wrong with Australian mortgages?
If you’re paying off a mortgage – or aspiring to – imagine if you didn’t have to worry so much about rising interest rates. That’s already the reality for US home buyers. Unlike in Australia, most mortgages in the US have a fixed-interest rate, locked in for 30 years. Instead of having to wait and…
Aust shares slip as banks weigh
SYDNEY, AAP – The Australian share market is trading lower at midday amid continuing concerns of aggressive tightening by the US Federal Reserve and weaker sentiment in local banking stocks. The benchmark S&P/ASX200 index was down 30.3 points, or 0.43 per cent, to 7089.9 points at 1200 AEDT on Monday. The All Ordinaries index fell…
