Peloton pauses bike, treadmill production
NEW YORK CITY, AP – Peloton’s shares have tumbled after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. Shares fell nearly 24 per cent, or $US7.62 ($A10.53) to $US24.22 ($A33.47) on Thursday on the report. Peloton plans to pause production of…
Prepare to be dazzled, space watchers say
CANBERRA, AAP – Scientists say it’s time to look up and be dazzled. For one week, the clouds will part and the International Space Station (ISS) will be clearly visible above Australia as it moves across the night sky. The sight will rival the planet Venus in brightness and its commanding position, scientist Ceri Brenner…
Asian markets fall after Wall St showing
SINGAPORE, RAW – Asian share markets and US futures fell on Friday, after US stocks took a knock overnight, hurt by lingering concerns over the Federal Reserve’s tightening and weaker-than-expected economic and earnings data. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.8 per cent, and Japan’s Nikkei slid 1.66 per cent. Oil…
Climate club plan could punish Australia
BRISBANE, AAP – Australia could get the economic cold shoulder from some of the world’s richest nations unless it does more to curb its emissions, observers say. Climate diplomacy experts have seized on a speech by Germany’s new chancellor, Olaf Scholz, who has called for the Group of Seven (G7) industrial nations to become the…
Jobs growth builds case for a rate hike
The better-than-expected job print reported yesterday was not a surprise. The huge fiscal and monetary nuclear bombs thrown at the economy during consecutive lockdowns have done their job. In fact, they’ve probably been too effective in that we now have a problem that things are improving much quicker than expected. Australia’s record-low unemployment is not…
Upbeat earnings take Wall Street higher
NEW YORK CITY, RAW – US stock indexes have risen on strong earnings reports while bargain hunting boosted mega-cap growth companies after the Nasdaq index plunged into correction territory in the previous session. The Nasdaq has had a rough two months since hitting a record peak in November, with investors dumping tech stocks on expectations…
Omicron takes toll on business activity
CANBERRA, AAP – Business activity in December was much weaker than hoped, driven by staff shortages, supply chain disruptions and weakened consumer confidence as a result of the Omicron variant. Credit reporting agency CreditorWatch now expects trade activity to slide throughout the first half of 2022. Its business risk index report for December said Christmas…
Australia ships first liquid hydrogen load
CANBERRA, AAP – Australia is exporting the world’s first load of liquefied hydrogen to Japan as part of a new energy supply chain pilot program. The federal government will commit an additional $7.5 million to support the next phase of the hydrogen energy supply chain project, known as HESC, which aims to produce 225,000 tonnes…
Serbia revokes Rio Tinto project licences
BELGRADE, RAW – Serbia has revoked Rio Tinto’s lithium exploration licences, bowing to protesters who opposed the development of the project by the Anglo-Australian mining giant on environmental grounds. Serbian Prime Minister Ana Brnabic said the government’s decision came after requests by various green groups to halt the $US2.4 billion ($A3.3 billion) Jadar lithium project….
Block flat on ASX debut, miners soar
SYDNEY, AAP – US payments giant Block has made an unconvincing ASX debut while the traditional heavyweights – the miners – held the market higher. Block barely moved on Thursday having replaced merger partner Afterpay on the domestic market. Investors sent Block chess depositary interests – units which allow overseas companies to trade on the…
