NSW eyes record $107b infrastructure spend
More than 70 per cent of NSW’s record $107.1 billion infrastructure budget will go to road and rail projects, including two new Sydney metro trains and major highway upgrades. Record-low interest rates offer a chance for the state to borrow big and build something for the future, NSW Treasurer Dominic Perrottet says. “The scale of…
Petrol prices set to lift on vaccine optimism
Petrol prices set to lift on vaccine optimism Petrol Prices; Used car prices Fuel prices: The national average price of unleaded petrol rose by 3.1 cents to 119.9 cents a litre (c/l) last week according to the Australian Institute of Petroleum. Metropolitan prices rose by 5.2 cents to 121.3c/l with regional prices down by 1.2…
Chinese factory output growing quicker
China’s industrial output rose at a faster-than-expected pace in October, while retail sales continued to recover albeit at a slower-than-forecast pace as the world’s second-largest economy emerged from its slump. Industrial output climbed 6.9 per cent in October from a year earlier, data from the National Statistics Bureau showed on Monday, in line with September’s…
Equity markets ride vaccine tailwinds
Investors channel their positive energies back toward the main tasks at hand: the vaccine taming the virus and restoring the economy’s health. US equity futures opened on a positive note this morning, still riding the vaccine tailwinds. Indeed, the vaccine enthusiasm booster shot remains the dominant narrative, even with surging infections across the US: now…
Power bills may fall as energy costs dive
Lower household power bills should result from falling energy production costs which have almost halved in the past year. The Australian Energy Regulator’s latest report, released on Friday, shows the wholesale price drop of up to 48 per cent has been driven by record low demand, especially in South Australia and Victoria, due to warm…
Packer did not control Crown, lawyers say
James Packer is not to blame for the failures of Crown Resorts, his lawyers have told an inquiry examining whether the gaming giant is suitable to run a new $2.2 billion Sydney casino. The Barangaroo premises, slated to open next month, is under a massive cloud because of the NSW Independent Liquor and Gaming Authority…
Call to let more Australians return home
A single mother separated from her autistic son is one of thousands of Australians still stranded overseas, desperate to return home. Lynne travelled to Scotland to care for her sick mum, who has since died. She’s urgently trying to get home as her 13-year-old is son has been staying with friends in Australia. Lynne also…
Biggest lift in used car prices in 21 years.
Biggest lift in used car prices in 21 years Wholesale petrol price at 5-month low Petrol Prices; Used car prices Fuel prices: The national average price of unleaded petrol fell by 3.0 cents to 116.8 cents a litre (c/l) last week according to the Australian Institute of Petroleum. Metropolitan prices fell by 3.8 cents to…
Time for Lower Risk Dividend Payers
The Australian economy continues to show flickers of light, strengthening the case our recession is over. On 4 November, investors learned retail trade rose by 6.5% in the September quarter, adjusted for inflation, surpassing the forecast of +6.0%. The positive news further sweetened the prior announcement on 3 November that the Australian Industry Group/Housing Industry…
Wall Street closes higher on election day
US stocks have closed sharply higher amid one of the country’s most rancorous presidential elections and investors betting it will be decided without a prolonged process, leading to a swift deal on more fiscal stimulus. Joe Biden’s opinion poll lead over President Donald Trump has raised expectations for a decisive outcome and a post-election stimulus…
