CommSec Daily Report Wednesday
Latest newsThe Australian sharemarket has kicked off the day in negative territory, with the ASX 200 down 0.4 per cent, is back below 6000pts and near four-week lows partly on a political crisis in Italy. Almost every sector is losing ground and seven in 10 companies on the ASX are down.US markets tumbled by 1.5…
Bonus payments lift wages
Bonus payments lift wages; Consumers are OKConsumer sentiment; Wage Price IndexConsumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment index fell by 0.6 per cent to 101.8 points in May. The index remain above its long-term average of 101.5 points. A reading above 100 points denotes optimism.Wages: The wage price index rose by 0.5 per…
Myer appoints UK retailer John King as CEO
Embattled retailer Myer has recruited former UK department stores boss John King to be its next chief executive following a three-month international search. Myer executive chairman Garry Hounsell says Mr King led the turnaround of UK department store chain House of Fraser while CEO in the eight years to 2015. Mr King playing a central…
CommSec Daily Report Thursday
Latest NewsLocal shares have been boosted by a strong showing from US sharemarkets overnight. US traders digested the release of US inflation data which came in higher than forecast in January, higher inflationary pressures have been one of the causes of the recent market volatility. However a slowdown in retail sales tempered views about the…
Base metals rise on US-China trade hopes
Copper prices rose, and other base metals prices were higher at the end of last week, as officials from Washington and Beijing prepared for more talks to resolve their trade issues. US officials expect China’s top trade negotiator to visit Washington this month, signalling that higher-level discussions are likely to follow this week’s talks with…
Many conservatives fret over Trump’s war on tech giants
President Donald Trump’s simmering war against Silicon Valley is raising concerns, notably among conservatives, about a politically motivated crackdown on tech firms that could damage free speech protections. The attacks from the White House coincide with a Justice Department announcement that it would convene talks on whether social media firms are ‘stifling’ speech or harming…
Eurozone backs Spain’s De Guindos for ECB top job
Eurozone finance ministers backed their Spanish peer Luis De Guindos for the vice-presidency of the European Central Bank on Monday after his only rival pulled out. The choice by the single currency bloc’s finance ministers was widely expected and came despite the reticence of European lawmakers to see a politician take over as number two…
Our Reliance On Housing Wealth Is Risky
By Wealth Foundations Australia’s median wealth per adult at USD194,000 is the highest in the world, according to the Credit Suisse Global Wealth Report 2012. Average wealth per adult, at USD355,000, is second only to Switzerland. It wasn’t that long ago, in fact the late 1990’s, that Australia was seen as a potential laggard in…
Aussie market tipped to open higher
The Australian share market is tipped to open higher this week, taking strong leads from Wall Street amid growing optimism US-China trade tensions are beginning to ease. Both US and European markets closed higher last week, with soft US economic data being outweighed by indications President Trump and his Chinese counterpart are making progress in…
Germany to let NATO use its cyber skills
Germany is to join the ranks of NATO countries making its cyber warfare skills available to the alliance to help fight hacking and electronic warfare, officials said on Thursday.NATO has designated cyberspace as a conflict domain alongside land, sea and air and says electronic attacks by the likes of Russia and China – but also…
