Building approvals slow in May
Record Adelaide building; Consumers still chipperBuilding approvals; Consumer confidenceBuilding approvals: Council approvals to build new homes fell by 3.2 per cent in May – the third fall in four months. But the rolling annual total of approvals rose to a 15-month high.Consumer confidence: The weekly ANZ-Roy Morgan consumer confidence rating fell by 0.8 per cent…
Ex-boss of bailed-out Anglo Irish Bank guilty of fraud
The former chief executive of Anglo Irish Bank was found guilty Wednesday of fraud and false accounting at the institution whose rapid fall from grace epitomised the Irish financial collapse.David Drumm, 51, had denied conspiring to inflate deposits in the bank by 7.2 billion euros ($8.5 billion) in 2008, at the start of the crisis…
CommSec Daily Report Friday
Latest NewsThe local sharemarket is softer on Friday with the cancellation of an upcoming summit between the US and North Korea putting a dent in shares globally. The ASX 200 is recovering from its earlier lows, trading 2 points lower at 6035 points and is pointing to a second consecutive weekly loss for the index…
Consumer confidence at 14-week high
Consumer confidence has risen for a fifth straight week, but whether the trend continues could depend on wage and employment data out later this week . The ANZ-Roy Morgan Australian Consumer Confidence index rose to a 14-week high of 120.8 last week, according to data released on Tuesday. The one per cent rise was in…
Electronics giant Philips posts 27% drop in Q1 profits
Dutch electronics giant Philips Monday posted a 27 percent drop in first quarter profits, hit partly by the costs of restructuring and some acquisitions.Net income fell in the first three months to 94 million euros ($115 million) compared to 128 million euros over the same period in 2017, the company reported.
Aussie market in for another volatile week
Traders are preparing for another week of volatility when the Australian share market resumes with investors adjusting their portfolios in the wake of official corrections in the United States. A late rally in the US on Friday saw the Dow Jones finish 330 points higher – almost 1.4 per cent – but experts suggest the…
The Week Ahead
Economic growth figures and the Reserve Bank Board meeting dominate in Australia. Overseas, US jobs data is the highlight on Friday.Published by Craig James, Chief Economist, CommSec
Super funds warn businesses over modern slavery
Certain industries have been warned to get their act together by superannuation fund investors over upcoming changes to Australian law around modern slavery. With mandatory reporting now enshrined in law, updates have been called for in financial services, as well as mining and healthcare. Super funds are worried that by not paying enough attention to…
Australian beer drinkers pick top brew
A lager than life competition has seen Australians crown a Queensland craft beer their favourite bevvy. Craft beer connoisseurs from across the country voted in the GABS Hottest 100 Aussie Craft Beers for 2018 and picked Gold Coast brewery Batler’s ‘XPA’ claimed the number one spot. It’s the second time Balter’s ‘XPA’ won the top…
Commonwealth Bank launches Apple Pay facility
Commonwealth Bank of Australia (CBA) has broken an impasse by becoming the first major bank in the country since ANZ to adopt Apple Pay, a move that could well shift the rest of the Big Four along the same path. Until recently, the banks have been reticent to use the payment mechanism provided by tech…
