Wall Street up higher, lifted by Big Tech
NEW YORK CITY, RAW – Wall Street jumped on Wednesday, closing sharply higher as megacap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports also encouraged investors to buy. The benchmark 10-year US Treasury yield slipped from multi-year highs hit in the previous session, helping steady sentiment across…
Equality in parental leave could grow GDP
CANBERRA, AAP – Australian men who take paternity leave are having an impact well beyond their household. Economist Preston Tsamassiros uses a “domestic work” and “market work” index that shows what more equal parental leave can achieve for families trying to juggle new family responsibilities and careers. A long-term transfer of household chores from mothers…
NAB impresses and tech shares keep ASX up
SYDNEY, AAP – National Australia Bank delighted investors with its earnings report and enthusiasm for technology shares helped the ASX to gains. The bank on Thursday reported first-quarter cash earnings up nine per cent and investors responded by raising shares by four per cent to $29.67. Technology shares were the best performing category and rose…
Broad ASX losses after US inflation woes
SYDNEY, AAP – Australian shares are having their worst day of the week after US inflation marked another 40-year record overnight. The ASX was down about one per cent on Friday and almost all categories were lower after US annual inflation rose to 7.5 per cent. The hefty inflation reading has stoked fears the US…
Employment slow to pick up in early 2022
CANBERRA, AAP – Employment growth slowed in the early stages of 2022 from a year ago, partly due to disruptions caused by the COVID-19 Omicron variant. Australian Bureau of Statistics data shows payroll jobs rose by one per cent in the fortnight to January 15, after a 6.8 per cent decline in the previous two…
New home sales buoyed by end of lockdowns
CANBERRA, AAP – The housing industry expects strong demand for new detached housing will continue across 2022 after posting bumper sales in the three months to January. The strength in home sales followed the end of the COVID-19 Delta lockdowns and the return of some certainty and confidence to the market. The Housing Industry Association…
AMP posts loss, dragged down by outflows
SYDNEY, AAP – AMP reported a $252 million loss in its full year results, and will not pay a final dividend, as the fallout of a wide-ranging misconduct inquiry continues to weigh on its performance. The company, one of Australia’s oldest financial institutions, recorded $5.2 billion in net cash outflows from its flagship wealth management…
Exports key to future hydrogen economy
CANBERRA, AAP – The most immediate economic gains from hydrogen will come from being the first choice for Asian buyers, the industry’s future bankers say. Demand for hydrogen exports from Australia is estimated at over 3 million tonnes per year by 2040, which could be worth up to $14 billion annually to the economy, according…
AGL posts strong H1, but sees softer H2
SYDNEY, AAP – Power company AGL Energy says a rise in global energy demand will boost future earnings, as it takes advantage of rises in domestic wholesale electricity prices. “With the rise in energy and commodity prices across the globe, AGL Energy is well positioned to benefit from improving wholesale electricity prices seen over the…
Survey finds Aussie farmers optimistic
SYDNEY, AAP – A survey of more than 600 farmers from Australia, the UK and the US has found Aussie growers the most optimistic about the industry’s future. The State of the Farmer report by the Australian agricultural tech group AgriWebb, surveyed 636 farmers globally, questioning them on a range of agricultural issues. Co-founder of…
