Kogan shares hit 7-month low after update
Kogan shares have slumped to a seven-month low, despite the online retailer flagging a 90 per cent jump in full-year earnings to $23.7 million. Kogan shares were down 72 cents, or 11 per cent, to $5.90 in a higher Australian share market at 1314 AEST – the lowest level for the stock since Christmas. CommSec…
Australian government bans foreign interns amid espionage fears
Foreign university students are no longer able to serve as interns in the offices of Australian Members of Parliament as fears of espionage grow. The Australian National University arranges internships in Canberra, which it accepts as credit toward its courses. However, recent complaints about the level of access enjoyed by Chinese students has resulted in…
Yancoal seeks dual listing in Hong Kong
Coal miner Yancoal has applied for a dual listing on the Hong Kong Stock Exchange to increase liquidity in its shares and diversify its investor base. The company – which says it remains committed to its listing on the ASX – also plans a capital raising, but did not give details. Yancoal chief executive Reinhold…
CommSec Daily Report Thursday
Latest newsFor the first time in a month, the Aussie sharemarket is lifting for a second day thanks to gains from resource and banking stocks. The ASX 200 index is up 0.7 per cent and remains on track to break a three-week losing streak.US shares jumped last night by ~1 per cent with the S&P500…
Comcast challenges Disney for control of 21st Century Fox assets
A full-fledged bidding war for key assets of Rupert Murdoch’s 21st Century Fox erupted Wednesday as media and cable giant Comcast announced it plans an all-cash bid that would top an existing offer from Walt Disney Co.Comcast said it is in ‘advanced stages of preparing’ the offer for the television and entertainment assets Fox agreed…
Trump administration faces crunch week on trade
President Donald Trump’s trade team faces a crunch week as they juggle talks on multiple sensitive issues representing hundreds of billions in trade amid pressing deadlines.High-stakes negotiations will take place with China, the European Union and Washington’s two North American Free Trade Agreement partners.And while the talks have been going on for weeks and months,…
Qualcomm says China regulators prompt delay of NXP merger
US mobile chipmaking giant Qualcomm on Thursday said it extended the deadline for its planned merger with Dutch rival NXP to work on getting clearance from regulators in China.At the request of the Ministry of Commerce in China, the companies have refiled a notice of acquisition, Qualcomm said in a news release.The refiling came with…
Inflation below RBA target
Inflation stubbornly below Reserve Bank targetConsumer price indexInflation: The Consumer Price Index – the main measure of inflation in Australia – rose by 0.6 per cent in the December quarter, below expectations for a lift of 0.7 per cent. In seasonally adjusted terms the CPI rose by 0.6 per cent. The annual rate of inflation…
US Federal Reserve raises lending rate; signals slower pace ahead
The US Federal Reserve raised the benchmark interest rate on Wednesday, a move sure to anger President Donald Trump, but it also sent a clear signal it expects to slow its rate increases next year. The Fed’s fourth rate increase of the year, which sent Wall Street tumbling in mid-afternoon, moved the central bank squarely…
US Federal Reserve warns of economic consequences of trade policies
US central bankers warned Thursday the risks and uncertainty created by tariffs and trade policies could undermine strong business confidence and investments, as President Donald Trump is set to fire a decisive shot in a global trade war. The Federal Reserve cited increasing concerns among businesses about domestic and foreign trade policies, as well as…
