ASX dips, energy shares up on Russia worry
SYDNEY, AAP – Shares were down on the ASX after the US Federal Reserve warned it could raise rates as soon as March to slow inflation in the pandemic recovery. The market opened higher but later dipped 0.81 per cent on Thursday after Wall Street closed mostly lower following the US central bank’s largely expected…
Top scientist extols clean energy era
SYDNEY, AAP – Last Friday Australia’s former chief scientist, Alan Finkel, drove his hydrogen-electric vehicle to watch the world’s first liquefied hydrogen carrier dock in Victoria’s Port of Hastings. The carrier, the Suiso Frontier, is scheduled to transport the clean cargo to Japan as part of a pilot program. The day’s events are symbolic of…
Pfizer to study shots targeting Omicron
NEW YORK CITY, AP – Pfizer has begun a study comparing its original COVID-19 vaccine with doses specially tweaked to match the hugely contagious Omicron variant. Pfizer and its partner BioNTech announced the study on Tuesday. COVID-19 vaccine makers have been updating their shots to better match Omicron in case global health authorities decide the…
US, China slowdown to weigh on growth: IMF
WASHINGTON, D. C., DPA – Lagging growth in China and the US is likely to weigh on the global economy this year, the International Monetary Fund has warned in its new economic report as it lopped several percentage points off of economic expectations. The latest World Economic Outlook (WEO) now predicts that global economic growth…
S&P 500 ends down as markets whipsaw
NEW YORK, RAW – Wall Street gyrated in afternoon trading to close lower with interest rate sensitive tech stocks weighing most heavily as uncertainties surrounding an increasingly hawkish Federal Reserve and rising geopolitical tensions contributed to the market’s churn. In a pattern similar to Monday, US stocks whipsawed between steep losses and modest gains. Equities…
Labor can end climate wars, Albanese says
CANBERRA, AAP – Anthony Albanese believes Labor can end Australia’s long-running climate policy wars should the opposition win the federal election. He used an address to the National Press Club to spruik Labor’s climate policy centred on a legislated 43 per cent emissions cut this decade. “We can, finally, put the climate wars behind us,”…
Hefty fall for ASX as inflation soars
SYDNEY, AAP – Shares crashed to their second-steepest fall of the year on the ASX as higher than expected Australian inflation figures exacerbated fears of higher interest rates. The market extended early losses on Tuesday after the annual inflation rate rose to 3.5 per cent, based on December quarter data. Investors worry higher inflation will…
Work begins at major NT gold project
DARWIN, AAP – Three Northern Territory mines are set to restart operations after major project status was awarded to the Mt Bundy Gold Project. The NT government says the $412 million project is likely to generate $1.78 billion in operating expenditure over its life. “This project is a major goldmine for Territory jobs and for…
It’s hard for the RBA to walk away from Q4 inflation numbers
There’s no doubt inflation is becoming an issue given the 3.5% annualised growth rate printed today. It’s hard to see how the Reserve Bank of Australia (RBA) walks away and we reiterate our view last week that interest rates will rise sooner than expected, probably in the second half of this year. The RBA is…
Inflation pressures accelerate further
CANBERRA, AAP – Price pressures in Australia accelerated in the December quarter with annual inflation rising to 3.5 per cent and beyond the Reserve Bank’s two to three per cent target. This compared with three per cent as of the September quarter. The Australian Bureau of Statistics said the consumer price index jumped 1.3 per…
