CommSec Daily Report Monday
Latest NewsIt has been a softer start to the week for the Aussie share market following a run of six straight gains. The ASX 200 is giving back 17 points or 0.3% to 5831 after a 3.25% rallylast week.It was a weak lead from Wall Street after stronger than expected US employment figures gave rise…
Medical crowdfunding raises millions for dubious cures
Online appeals to help sick people by raising money for unfounded and sometimes dangerous treatments and purported cures bring in millions of dollars each year, researchers warned Tuesday.The study in the Journal of the American Medical Association (JAMA) looked at crowdfunding activity from 2015 to 2017 and ‘identified more than 1,000 campaigns that raised nearly…
Uber drivers stage 24-hour strike in Britain
Drivers for taxi-sharing app Uber went on strike in Britain on Tuesday, demanding higher fares and improved workers’ rights and urging users not to cross the digital picket line by ordering rides.Around 50 protesters staged a noisy demonstration outside Uber’s offices in London, after a trade union called a 24-hour stoppage starting at 1pm (1200…
Hong Kong delivers first interest hike in 12 years
Hong Kong has bumped up its interest rates for the first time in over a decade as mortgage rates are set to increase in an already difficult property market. Real estate in Hong Kong has seen signs of stress from the prospect of a rate rise, which came in line with the recent interest rate…
EU clears Apple plan to buy music app Shazam
The EU on Thursday approved US tech giant Apple’s plan to buy leading song-recognition app Shazam, saying the move would not reduce choice for music streaming consumers.The bloc launched a detailed probe into the deal with London-based Shazam, worth a reported $400 million, in April, at the request of several EU states amid fears it…
Ansell shares slide on profit warning
Ansell shares have slid more than nine per cent after the protective gloves and clothing maker warned that its annual earnings guidance could fall, citing uncertainty over costs and tariffs on US imports. The company says its adjusted earnings per share could fall by five to six US cents from its guidance range of $US1.00…
Wall St ends down as Turkey woes hit banks
US stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 per cent below its record high from January…
Oil majors wary of investing in volatile era
Crude prices are surging, and oil majors are cashing in.But with the pain of the last downturn all too fresh in their memories, they remain wary of investing to bring more oil to market, analysts say.From $27 per barrel in January 2016 the main international contract climbed to $57 at the end of last year.Then…
Soft start for Australian market predicted
The Australian share market is expected to have a soft start to the week after a busy Friday night on US and European markets amounted to little. The ASX200 futures contract was down seven points at the close on Friday and is suggesting a start five or 10 points lower come Monday. ‘Basically we’ve seen…
ASIC reprimands Goldman Sachs over bookbuilding process
Goldman Sachs has been handed a reprimand from the Australian Securities and Investments Commission (ASIC) over its method of selling shares. The US-based investment banking powerhouse accepted a type of enforcement action known as an enforceable undertaking (EU) from ASIC over Goldman’s bookbuild messaging system. An EU is a type of settlement agreed between ASIC…
