CommSec Daily Report Wednesday
Latest newsAussie shares are a touch higher for a fourth day, with the ASX 200 up 0.25 per cents thanks mostly to the financial sector. The big picture remains little changed however, with the local market down 6.5 per cent in October and on track to have the worst month in three years. It has…
Roger David menswear enters administration
Roger David is in the hands of administrators after the menswear retailer collapsed in the face of competition from international and online rivals. The 76-year-old chain, which employs more than 300 staff nationwide across 57 stores, will operate through the Christmas retail period but is now under administrators KordaMentha. ‘Despite the directors’ best efforts with…
The Week Ahead
Surveys of business and consumer sentiment are amongst the key indicators to be released in Australia over the week. The Reserve Bank features also in new reports, economic data and speeches.In the US in the coming week the focus is on inflation readings. On Monday, the Columbus Day holiday isrecognised in some states.Meanwhile politically-sensitive trade…
ASIC increases scrutiny on initial coin offerings
The Australian Securities and Investments Commission (ASIC) has opted to start taking action against what it termed “misleading” initial coin offerings (ICOs) aimed at retail investors. The corporate watchdog had been keeping its distance from the current world of digital currency trading. However, the recent proliferation of ICOs has forced ASIC to take a stance….
Exports boost Canadian economy to best growth in a year
Canada’s GDP has surged in 2018 during the second quarter as the North American nation posted the best economic results for a year. A double boost of increased exports and a rise in consumer spending has precipitated the increase, which comes at a helpful time for Prime Minister Justin Trudeau as his country navigates the…
The Week Ahead
A quiet week is in prospect in Australia. The CBA’s Business Sales Indicator is released on Monday. The Reserve Bank also dominates the calendar of events. Governor Philip Lowe will speak at a breakfast event on Tuesday to launch ASIC’s National Financial Capability Strategy in Canberra. And Deputy Governor Guy Debelle speaks in Brisbane on…
Australian agriculture groups join forces
Two of Australia’s top agriculture bodies are banding together in the hope they will be a force to be reckoned with in Canberra. The National Farmers’ Federation, which represents the nation’s 84,000 farmers, and Agribusiness Australia, which speaks for parties across the food production chain, have signed a memorandum of understanding agreeing to work together…
Banks royal commission sticks to deadline
Banking royal commissioner Kenneth Hayne QC appears unlikely to request an extension of the one-year inquiry. The commission will shift its focus from past misconduct in the banking, superannuation and financial services industry to policy issues from late September, when it stops taking public submissions and hands over its interim report. Mr Hayne will submit…
European stocks sink at open
European stock markets moved lower in opening deals Wednesday on renewed trade war concerns after the United States announced another list of Chinese exports subject to tariffs.Frankfurt’s DAX 30 lost 0.8 percent to open at 12,506.99 points, while the Paris CAC equities market also edged down 0.8 percent to 5,393.41 points.The British capital’s benchmark FTSE…
The Week Ahead
The End of Financial Year (EOFY) may be approaching, but tier-1 economic data in Australia is scarce this week. The latest update on Aussie household finances will be keenly observed given the laser-like focus of the Reserve Bank and economists on the biggest driver of economic growth – household consumption.In the US, economic growth and…
