Employment rises by 64,800 in December
CANBERRA, AAP – LABOUR FORCE DATA FOR DECEMBER: * Unemployment rate – 4.2 per cent versus 4.6 per cent in November * Underemployment rate (employed people seeking additional work) – 6.6 per cent versus 7.5 per cent * Employment – up 64,800 * Full-time positions – up 41,500 * Part-time employment – up 23,300 *…
Rate-rise fears sweep ASX, broad losses
SYDNEY, AAP – Investors have been having a terrible time on the ASX, with the market looking set to deliver its second-biggest loss of the month. The ASX fell steadily during early trade on Friday and was down 1.65 per cent after continued fears about rising rates on Wall Street. Every share category was lower….
Approval given to Novavax COVID-19 vaccine
CANBERRA, AAP – The Novavax vaccine has been approved for use in Australia, becoming the first protein-based COVID-19 vaccine in the country’s arsenal. Health Minister Greg Hunt told reporters on Thursday the Therapeutic Goods Administration had given its approval for the vaccine. Australia has ordered 51 million doses, with the first shipment due in the…
Tech giants face online safety inquiry
CANBERRA, AAP – Some of the world’s biggest tech companies will have their say on proposed laws that would hold them accountable for online harassment and abuse on their platforms. The proposed laws would force social media platforms to take down offending posts and, in some circumstances, unveil the identity of anonymous posters. On Thursday…
Starbucks scraps US workers jab mandate
NEW YORK CITY, AP – Starbucks is no longer requiring its US workers to be vaccinated against COVID-19, reversing a policy it announced earlier this month. In a memo sent on Tuesday to employees, the Seattle coffee giant said it was responding to last week’s ruling by the US Supreme Court. In a 6-3 vote,…
Jobless seen returning to a pre-Delta low
CANBERRA, AAP – The unemployment rate is expected to return to the 13-year low seen briefly last year when the latest jobs figures are released. Economists expect Thursday’s Australian Bureau of Statistics labour force report for December will show a 60,000 increase in the number of people employed. This comes after November’s 366,100 employment surge…
Wall Street rises on earnings boost
NEW YORK CITY, RAW – US stock indexes have risen after upbeat results from a host of companies partially offset a wobbly start to the fourth-quarter reporting season while big tech stocks also made a comeback after a bruising sell-off. Quarterly reports from UnitedHealth Group Inc and Procter & Gamble Co supported sentiment in early…
Bank closures ‘rob towns of new beginning’
ORANGE, AAP – The closure of a rural bank was once seen as the beginning of the end for a small town. Now, with more people moving to regional Australia, bank closures are robbing some communities of a new beginning, the federal government’s Regional Banking Taskforce has been told. The taskforce was established in October…
Technology shares plunge in ASX decline
SYDNEY, AAP – Technology shares have borne the brunt of wide-ranging selling on the ASX as investors favoured higher bond yields. A 2.56 per cent drop for technology shares made them the worst performers amid a market decline of about one per cent on Wednesday. Afterpay shares had their final day on the ASX before…
Asia shares drop, bond yields hit highs
TOKYO, RAW – Asia’s share markets have struggled as US Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter US monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions,…
