Finance execs expect 2022 rate hike
CANBERRA, AAP – Around three-quarters of Australia’s senior finance executives expect an interest rate rise this year as the economy bounces back from the pandemic. Chief financial officers surveyed by Deloitte also found almost all (95 per cent) rated uncertainty levels more broadly as being higher than normal – an all-time peak since its biannual…
Wall Street gains on upbeat earnings
NEW YORK CITY, RAW – Wall Street’s main indexes have risen, with high-growth stocks gaining as a recent rally in Treasury yields paused while investors took comfort from upbeat earnings reports and signs of easing tensions in Ukraine. The benchmark 10-year US Treasury yield slipped from multi-year highs hit in the previous session, helping steady…
CBA profit impresses, ASX gains 1.1pc
SYDNEY, AAP – A hefty Commonwealth Bank profit encouraged the buying of financial shares and helped the Australian market close higher by more than one per cent. The market heavyweight bank improved first-half cash earnings by 23 per cent and investors responded by raising its shares by five per cent to $99.56. Financials rose two…
More than one ‘renewable gas’ in the race
CANBERRA, AAP – A proposed certification scheme for hydrogen must be expanded to other “renewable gases”, the gas energy industry says. Some in the sector fear fuel alternatives that have been in the pipeline for years will be squeezed out by a government focus on coal and gas-derived hydrogen. Many opportunities are being missed, despite…
NAB, AMP impress and keep ASX higher
SYDNEY, AAP – Better earnings for NAB and support for embattled AMP have been among the highlights of early trade on a slightly higher Australian share market. NAB on Thursday reported first-quarter cash earnings up nine per cent to $1.8 billion, helped by greater home and business lending. The bank was the favourite of investors…
Temple & Webster soars on H1 sales
SYDNEY, AAP – Online furniture trader Temple & Webster has soared on the Australian stock market after first-half sales rocketed by 46 per cent. Investors sent shares higher by about 11 per cent after the earnings report showed how lucrative the east coast lockdowns of late 2021 were for businesses in the home improvement area….
Vic hardest place to do business in Aust
CANBERRA, AAP – Two-thirds of Australians now expect an increase in their mortgage rate over the next 12 months, with one-in-four believing rates could increase by more than one percentage point. This was a key finding in the latest Westpac-Melbourne Institute consumer sentiment survey, which showed confidence fell by 1.3 per cent to 100.8 in…
NSW rail pain eases as overtime ban ends
SYDNEY, AAP – Sydney train commuters can look forward to a smoother commute after the transport minister struck a deal with the union to lift a ban on overtime for rail workers. However other industrial action by the Rail, Tram and Bus Union will continue, with staff refusing to work on foreign rolling stock and…
Voters back 25pct pay rise for aged care
CANBERRA, AAP – A majority of Australians back a huge wage rise for aged care workers and say federal government funding for the sector should be increased. The polling conducted for the Health Services Union found 71 per cent of voters backed a 25 per cent increase in the average pay rate to $29 per…
CBA eyes better economy after solid profit
SYDNEY, AAP – Commonwealth Bank of Australia is looking forward to a strong year in fiscal 2022 as the economy gathers pace, after posting a more than 20 per cent jump in first-half profit. Net cash earnings, the bank’s preferred measure of profitability, rose 23 per cent to $4.7 billion, in line with its statutory…
