Telstra cops record consumer rights fine
CANBERRA, AAP – Telstra has paid a $1.5 million penalty after the communications watchdog found it failed to provide consumers with the opportunity to keep their existing local phone number when changing telcos. The infringement notice, related to what is known as “local number porting”, is the biggest ever issued by the Australian Communications and…
Brisbane petrol prices spike; Higher inflation
Job ads hit 12-year high after JobKeeper expiry Brisbane petrol prices spike; Higher inflation Job ads; Petrol Prices; Inflation gauge; Used vehicle market Job ads: ANZ job advertisements rose by 4.7 per cent in April to a 12-year high of 196,612 available positions. Ads have lifted for 11 successive months to be up 198.8 per…
8 cyclical stocks to play the recovery
The environment of the market has shifted dramatically. With whispers of inflation, bubbles and bond yield prices rising, we have adapted our portfolio to reflect the evolving market. In this article Vince Pezzullo, Deputy Head of Equities discusses why cyclical stocks are an attractive part of the market and reflects on reporting season and the…
Beach shares dive as oil fields dry up
SYDNEY, AAP – Shares in energy provider Beach have plunged by more than 20 per cent after the company scrapped its five-year outlook, having revealed it expects to produce less oil from sites in South Australia.Beach on Friday lowered its estimate of its oil and gas reserves at the Western Flank of the Cooper Basin…
Fortescue raises FY cost estimates
SYDNEY, AAP – Iron ore miner Fortescue has warned full-year capital costs will increase due to the rising Australian dollar and major projects. Fortescue on Thursday issued its third-quarter production report, which showed 53.6 metric tonnes was mined – a big increase on the 41.9 metric tonnes in the same quarter last year. Boss Elizabeth…
China launches space station core module
BEIJING, AP – China has launched the core module for its first permanent space station that will host astronauts long-term.The Tianhe – or “Heavenly Harmony” – module blasted into space on Thursday atop a Long March 5B rocket from the Wenchang Launch Center on the southern island province of Hainan. The launch marked another major…
Shares flat as most Aussies enjoy holiday
SYDNEY, AAP – Australia’s share market was stagnant early, although the banks and miners gained, as most of the country enjoyed the Anzac Day public holiday. The benchmark S&P/ASX200 index was up 1.4 points, or 0.01 per cent, to 7062.1 at 1200 AEST on Monday. The All Ordinaries was higher by 1.4 points, or 0.01…
Crown Sydney’s liquor licences extended
SYDNEY, AAP – Wine and beer will continue to flow at the luxury Crown Sydney tower but gambling is still a no-go, the gaming regulator has ruled.The NSW Independent Liquor and Gaming Authority on Tuesday renewed three interim liquor licences for the resort at Barangaroo. It means alcohol can be sold at restaurants and bars…
Covid-19 drives petrol prices; Car prices soar
Covid-19 drives petrol prices; Car prices soar Petrol Prices; Used vehicle market Fuel prices: Last week the national average price of unleaded petrol fell by 3.6 cents a litre to 139.2 cents per litre (c/l), according to the Australian Institute of Petroleum. Used car prices: Used vehicle prices rose by 2.4 per cent last week….
Biden is revving a US economy already enjoying a vaccine-inspired recovery
Detroit’s giant carmakers were among the US businesses tottering as the Great Recession took hold. About 2.6 million Americans lost their jobs over the four months from when the global financial crisis erupted in September 2008 until President Barack Obama assumed office at the start of 2009. The modelling of Christina Romer, Obama’s chair of…
