Canada legalizes marijuana for recreational use
Nearly a century of marijuana prohibition came to an end Wednesday as Canada became the first major Western nation to legalize and regulate its sale and recreational use. The change was praised by pot enthusiasts and investors in a budding industry that has seen pot stocks soar on the Toronto and New York stock exchanges,…
Banks don’t want to be weakest link in blockchain revolution
Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities. While banks could reduce their costs, the gains could eventually shift to consumers who could benefit from quicker and cheaper services. ‘Any…
Stocks to watch
Stocks to watch on the Australian stock exchange: BHP – BHP BILLITON – up 26 cents, or 0.9 per cent, to $29.10 RIO – RIO TINTO – up 62 cents, or 0.8 per cent, to $74.28 FMG – FORTESCUE METALS GROUP – up 2 cents, or 0.4 per cent, to $4.90 Iron ore prices edged…
Eurozone delays Greece debt relief over reforms
Eurozone ministers on Monday held back granting Greece debt relief because the government failed to implement reforms promised during the massive bailout that ended last year, officials said. Greece exited its third and final international bailout in August, a turning point in its progress out of the catastrophe that engulfed the country during the financial crisis.The…
G8 shares slide on profit disappointment
G8 Education shares have slid over 14 per cent after Australia’s largest childcare and early education provider reported full-year profit fell 11 per cent to $71.8 million. The company said childcare centres it had acquired in acquisitions in past years had performed below expectations but it was taking steps to turn them around. G8 said…
OECD calls on Australia to sort out energy sector
Successive Australian governments have failed to sort out any kind of consensus on national energy policy, and although it may have caused consternation and embarrassment for some at home, it had yet to reflect outwardly quite so noticeably. However, as the world markets become more aware of the threat of climate change and the potential…
From Guterres to warning Ghosn
Here are some of the top quotes from the World Economic Forum (WEF) in Davos on Thursday, where the business elite faced yet more accusations of inaction on climate change. ‘Climate change is running faster than we are. I believe we are losing the race.’ – UN chief Antonio Guterres sounds the alarm on global warming…
Professor to investigate NSW fish deaths
A mass fish kill in NSW will be examined by a water and climate expert, as part of the federal government’s efforts to understand the ecological disaster. Water Minister David Littleproud launched the review on Tuesday, with the probe to look at why the fish died and how future deaths can be avoided within the…
Coca-Cola signs Pizza Hut to Aussie empire
After securing the business of Hungry Jack’s, Red Rooster, and Oporto, Coca-Cola Amatil has signed Pizza Hut to a five-year beverage supply deal for its 285 Australian restaurants. The deal comes about 18 months after the beverage giant lost its Domino’s Pizza contract to rival Pepsi-Schweppes. Coca-Cola announced on Thursday it would be Pizza Hut’s…
Stable Wall Street to reverse ASX sell-off
The Australian sharemarket is tipped to rise slightly at its open, reversing Friday’s losses on the back of firm performance on Wall Street and in Europe. The ASX200 futures saw a 20-point decline on Friday ahead of an expected weakness on Wall Street that never really eventuated, AMP Capital’s chief economist Shane Oliver told AAP…
