Deloitte upbeat on outlook despite Omicron
CANBERRA, AAP – A prominent economist expects Australian economic growth to remain above average in 2022, despite the challenges from the COVID-19 Omicron strain and faced with a softer Chinese economy, its number one trading partner. Deloitte Access Economics economist Chris Richardson argues that Australia is “match fit” for fighting COVID, being well vaccinated and…
Dow lower after disappointing bank results
NEW YORK CITY, RAW – The Dow closed lower on Friday with a big drag from financial stocks as investors were disappointed by fourth quarter results from big US banks, which cast a shadow over the earnings season kick-off. The Nasdaq and the S&P regained lost ground in afternoon trading to close higher. Meanwhile the…
ASX gains limited before China GDP data
SYDNEY, AAP – Australian shares were mostly higher but gains were being limited by losses for materials shares. The ASX was only a little higher on Monday, following mixed results for US markets on Friday. There were gains of more than one per cent for shares in energy, consumer discretionaries and consumer staples. Energy shares…
China posts record trade surplus in 2021
BEIJING, RAW – China has posted a record trade surplus in December and in 2021, as exports outperformed expectations amid a global pandemic, but some analysts are pointing to a slowdown in international shipments in the coming months. The trade surplus hit $US676.43 billion in 2021, the highest since records started in 1950, up from…
Tech shares worst amid broad ASX losses
SYDNEY, AAP – Shares had their biggest loss in more than a week on the Australian market and ensured the five-day stretch was a losing one. Technology shares crashed by almost four per cent on Friday and almost all categories were lower after similar moves on Wall Street. The benchmark S&P/ASX200 index closed down 80.5…
Asia shares fall on Fed hawkish stance
TOKYO, RAW – Asian shares took a beating on Friday after a fresh salvo of hawkish remarks from Federal Reserve officials solidified expectations that US interest rates could rise as soon as March, leaving markets braced for tighter monetary conditions. Fed Governor Lael Brainard became the latest and most senior US central banker on Thursday…
Virgin Orbit launches seven satellites
LOS ANGELES, AP – A Virgin Orbit rocket released from a jet flying off the California coast has carried seven small satellites into space. Virgin Orbit’s modified Boeing 747 took off on Thursday from Mojave Air & Space Port in the Southern California desert, flew out over the Pacific Ocean and dropped the LauncherOne rocket…
China hopes US can enable more trade
BEIJING, RAW – China says it hopes the United States can create conditions to expand trade cooperation, after Chinese purchases of US goods in the past two years fell short of the targets in a Trump-era trade deal. China has been behind in its promises in a “Phase 1” trade pact to boost purchases of…
Hearable tech to dominate disruptive 2022
CANBERRA, AAP – Hearables will dominate wearable technology in 2022, but much bigger themes threaten to disrupt consumers and business, analysts say. Wearable tech such as ear buds and smart watches will be the largest and fastest-growing segment in the lucrative Internet of Things (IoT) consumer market, according to data and analytics company GlobalData. “The…
Omicron to stymie home loan growth
SYDNEY, AAP – Surging coronavirus infections are tipped to limit the pickup in home lending that occurred after many Australians were released from lockdown. The value of home loans in November rose 6.3 per cent on the previous month to $31.4 billion as coronavirus rules eased, Bureau of Statistics data showed on Friday. Owner-occupiers in…
