Asia shares cautious, Bitcoin slides
TOKYO, RAW – Asian shares got off to a cautious start on Monday as investors anxiously awaited a key read on US inflation this week for guidance on monetary policy, while Bitcoin took a hammering after China cracked down on mining and trading of the cryptocurrency. MSCI’s broadest index of Asia-Pacific shares outside Japan was…
Qantas sick pay stoush set for High Court
SYDNEY, AAP – A group of unions say a “cynical and callous” decision by Qantas to prevent stood-down workers from accessing their sick leave should be reversed, with the matter set to appear in the High Court. A Federal Court appeals bench in November rejected the unions’ claim, saying that because the employees were not…
Kia cars recalled over fire fears
ADELAIDE, AAP – More than 57,000 Kia owners in Australia have been warned not to park their cars in an enclosed area such as a garage amid fears they could catch fire even when switched off. Product Safety Australia has issued a recall for two Kia models over problems with the Hydraulic Electronic Control Units….
Qantas extends international flight pause
CANBERRA, AAP – Qantas has delayed its planned resumption of international flights until late December after the federal budget revised forecasts for overseas travel. The airline was due to restart services at the end of October but on Wednesday pushed back the date. Treasury expects international travel to remain low through to mid-2022 before a…
BHP, Rio set records as iron ore booms
BHP and Rio Tinto shares hit record prices and helped the Australian market climb to be 30 points from its record high. BHP, Rio Tinto and Fortescue Metals were thriving on the soaring price of iron ore, which continued to climb higher than $US200 per tonne. BHP shares fetched a record $51.82, then eased to…
Copper Rising
Today more than ever copper stands at the top of the heap of the commodities pile as a bellwether for the global economy. Regardless of its label as a barometer or a “canary in the coal mine” the vast list of applications for the metal have earned the right for its prophetic accolades. Copper is…
Super changes to benefit older Australians
CANBERRA, AAP – More older Australians will be able to use some of the profit from the sale of the family home to top up their superannuation, under changes to be announced in the federal budget. Currently, people older than 65 years who sell the asset can make a one-off contribution to their retirement savings…
China cuts economic contact with Australia
CANBERRA, AAP – China has indefinitely suspended all strategic economic talks with Australia, blaming the Morrison government’s attitude towards the relationship. The move cuts off all diplomatic contact with Beijing under the China-Australia Strategic Economic Dialogue, freezing discussions between key officials below a ministerial level. But the deeper diplomatic freeze is largely symbolic, given Beijing…
NAB nearly doubles H1 cash profit
SYDNEY, AAP – National Australia Bank has reported a 94 per cent jump in first-half earnings to $3.3 billion after improving economic conditions allowed the winding back of some provisions.Statutory net profit for the six months to March 31 more than doubled to $3.2 billion, while operating revenue dipped 1.5 per cent to $8.26 billion….
Dual gas-green hydrogen plant for NSW
SYDNEY, AAP – A dual green hydrogen-gas power plant will be built in the Illawarra region, helping replace the Liddell coal-powered station when it shuts in 2023. The NSW government will tip $78 million into the Tallawarra B project, while the federal government will spend $5 million to make it hydrogen-ready. From 2025, EnergyAustralia will…
