Consumer confidence hits 5-week high
The great rebalancing of the housing marketConsumer confidence hits 5-week highHome prices; Consumer sentiment; Reserve Bank Board minutesHome prices: The Bureau of Statistics reports that Australian home prices fell by 0.7 per cent in the June quarter to stand 0.6 per cent lower over the year – the first annual decline since June quarter 2012.Consumer…
Boeing to develop refueling drones for Pentagon
The Pentagon announced Thursday it had awarded US aerospace giant Boeing an $805 million contract to develop the first unmanned refueling drones for the United States Navy.Boeing is charged with everything from designing and producing to delivering and servicing four ‘MQ-25A Stingray’ drones, which will enter service in 2024, the Navy said in a statement.The…
Google employees sign protest letter over China search engine
Hundreds of Google employees have signed a protest letter over the company’s reported work on a censor-friendly search engine to get back into China, The New York Times said Thursday.The employees are demanding more transparency so they can understand the moral implications of their work, said the Times, which obtained a copy of the letter.It…
CommSec Daily Report Monday
The Australian market kicked off the new trading week on a positive note, with the All Ordinaries Index (XAO) up around 25 points at the start of trade. The Asian markets have followed the steady gains in United States and European markets on Friday. US share markets rose supported by firm economic data and earnings…
Current trade war policies negatively affecting US energy companies
US President Donald Trump’s current trade policies appear to be having a negative effect on energy companies based in the country as Trump steps up his efforts against high oil prices. Evidence appears to be gathering to suggest that these trade tensions are adversely impacting oil transporters and producers in the US. This could have…
CommSec Daily Report Monday
Latest NewsThe Australian sharemarket has so far shrugged off any fears in relation to the escalating trade war between the US and China. Better than expected US employment figures countered negative sentiment on US markets, providing a positive lead to our market. Local shares were off to a stronger start with the ASX 200 lifting…
Mineral Resources backs out of Atlas bid
Mining billionaire Gina Rinehart looks set to take control of junior Pilbara miner Atlas Iron after rival bidder Mineral Resources decided it would not make a counter offer. An all cash bid worth $390 from a subsidiary of Ms Rinehart’s Hancock Prospecting was on Tuesday deemed by Atlas as superior to the $280 million all-scrip…
Aussie trade accounts in good shape
Sharp improvement in external positionGovernment Finance; Balance of PaymentsCurrent Account: The broadest measure of the trade accounts – the current account – improved in the March quarter (smaller deficit), with the deficit narrowing from $14,661 million to $10,469 million.Debt servicing: The ratio of net income on foreign debt to exports of goods and services stood…
EU vows to block blow of US Iran sanctions
The EU said Thursday it will begin moves to block the effect of US sanctions on Iran as efforts to preserve the nuclear deal with Tehran deepened a transatlantic rift.The decision came as Russia and China took some of their most concrete moves yet to extend their economic influence in Iran, in the face of…
Greens plan to slug energy giants with tax
A plan to hit oil and gas multinationals with a 10 per cent royalty could boost the budget by $15 billion over the next decade. A Parliamentary Budget Office costing of a minimum 10 per cent rate on resources predicts the Greens plan will initially raise $1.4 billion a year, rising to $1.7 billion as…
