Asian shares brace for China data
SYDNEY, RAW – Asian share markets are off to a cautious start as the US earnings season looms large and a slew of Chinese economic data is expected to show the deadening effect of coronavirus restrictions on activity. A holiday in the United States made for thin trading, but that did not stop Brent crude…
Wesfarmers H1 has Kmart sales setback
SYDNEY, AAP – Wesfarmers is on course for first-half earnings which will satisfy investors but the coronavirus has crippled Kmart and Target. The group on Monday reported first-half net profit after tax should fall between $1.18 billion and $1.24 billion, which would meet investors’ expectations. The earnings are due on February 17. Bunnings and Wesfarmers’…
Gas-fired robbery cheats Aussies: report
CANBERRA, AAP – A “gas-fired robbery” is underway in an offshore heist that is cheating Australians out of a much-needed tax windfall, a report says. “What if you gave your house to a real estate agent and trusted them to sell it and they gave it away to a mate for free – it’s that…
Barnaby Joyce, partner Vikki engaged
CANBERRA, AAP – Deputy Prime Minister Barnaby Joyce is set to marry partner Vikki Campion after the federal election due by May. Mr Joyce popped the question to Ms Campion, and received a positive response, at a restaurant in Coffs Harbour on the NSW north coast last weekend. “(She) went to the bathroom and I…
‘Significant concerns’ at RAT prices: ACCC
SYDNEY, AAP – The consumer watchdog is “significantly concerned” about the skyrocketing prices of COVID-19 rapid antigen tests. The ACCC said at the “extreme end” it had received reports of RATs costing up to $500 for two tests through online marketplaces, and more than $70 per test through convenience stores, service stations and independent supermarkets….
Election battlelines drawn over tax
CANBERRA, AAP – Treasurer Josh Frydenberg has returned from his COVID-19 sick bed to boast of his government’s record on tax cuts, which he sees as a major point of difference with Labor as the country goes to the polls this year. But shadow treasurer Jim Chalmers accused Mr Frydenberg of launching a scare campaign…
Woolies suspends supplier after union row
MELBOURNE, AAP – Woolworths has suspended arrangements with one of its main suppliers after Australia’s peak union body claimed the abattoir made COVID-positive employees keep on working. ACTU president Michele O’Neil on Saturday called on the supermarket giant to take action after Teys Australia workers in South Australia were directed to wear coloured hairnets to…
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…
