UK PM to push again for election after EU backs Brexit delay
The British Prime Minister is expected to make a fresh attempt Tuesday to force an early election, despite MPs rejecting his plan, after the European Union agreed to postpone Brexit for up to three months. MPs defeated a third attempt on Monday by Boris Johnson to call a snap poll, with the Conservative leader immediately…
Petrol prices near 12-month highs
Petrol prices near 12-month highs Weekly petrol prices Petrol prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 9.0 cents a litre last week to a near 12-month high of 154.1 cents a litre (highest since week to November 4 2018). The lift in prices was influenced…
UK parties argue over election as EU mulls Brexit delay
Britain appeared to move a step closer Sunday to holding an early election in December, after two opposition parties backed the idea – but only if EU leaders delay Brexit until January. The Scottish National Party (SNP) and the Liberal Democrats broke ranks with the main opposition Labour party to offer Prime Minister Boris Johnson…
Investor Signposts: Inflation data hogs the spotlight
CommSec Chief Economist Craig James previews the economic & financial market events scheduled for the week ahead including the State of the States report, Private sector credit & US Federal Reserve rates decision. Australia: Inflation data hogs the spotlight • In Australia, investors will be focussed on the latest inflation report. But the latest data…
Tough year, but per capita income at new highs Tax refunds up $5 billion over year
Tough year, but per capita income at new highs Tax refunds up $5 billion over year National Accounts; Monthly Budget Statement Rich Australia: Real GDP per capita rose by 0.3 per cent to a record high of $74,873 in 2018/19. Both national wealth (net worth) and household wealth were at record highs at the end…
Trump again attacks Fed, says central bank ‘derelict in its duties’
President Donald Trump once again attacked the US Federal Reserve on Thursday, calling for more interest rate cuts to stimulate the American economy just days before a key policy meeting. “The Federal Reserve is derelict in its duties if it doesn’t lower the Rate and even, ideally, stimulate,” he said on Twitter, a relatively mild…
Facebook devotes $1 bn to affordable housing in US
Facebook on Tuesday said that it is devoting $1 billion during the coming decade in affordable housing, most of it in its home state of California. The leading social network has partnered with Governor Gavin Newsom and others on projects intended to result in as many as 20,000 new housing units for teachers, nurses, first…
Financial News that Matters
Investors all over the planet begin their day reviewing the financial news. In an age of information overload sorting through the often-breathless headlines can be a daunting task. Yet serious investors know that news moves market prices up or down and ignoring the news can have undesirable consequences. News affects market sentiment that drives the…
The Daily Fix – EUR finding some form with stimulus talk in play
The noise in the Brexit saga is deafening, but by all accounts, we are closer on a customs arrangement on Northern Ireland, yet, still have to work on the issue of VAT. It is unclear at this stage if there will be any concrete proposal to thrash out in tonight’s EU Council meeting, but the…
US stocks boosted by good earnings day
Wall Street stocks surged Tuesday following a batch of mostly good corporate earnings while investors shrugged off a downcast IMF forecast that emphasized the drag from trade wars. Shares of Dow components JPMorgan Chase, Johnson & Johnson and United Healthcare rocketed higher following strong earnings announcements. The strong reports more than made up for a…
