RBA downplays financial risks
Reserve Bank downplays financial risksFinancial Stability ReviewReserve Bank Financial Stability Review: The Reserve Bank has handed down the latest review of the financial system: “The resilience of Australian banks has increased over the past decade.” The Financial Stability Review has implications for finance providers, the broader sharemarket and interest rate settings.What does it all mean?The…
United Airlines low fuel mayday triggers Australia emergency landing
A United Airlines plane landed safely at Sydney Airport Thursday after low fuel reserves triggered a mayday call from the pilot.Police called a ‘full emergency response’ and briefly closed major roads surrounding the airport as a precaution at 6:36 am (2036 GMT Wednesday) after the pilot of the Boeing 787 Dreamliner, flying from Los Angeles,…
Greens call for banking lobbyist parlt ban
Bank lobbyists should be banned from Parliament House until the royal commission is over, the Australian Greens say. Greens leader Richard Di Natale said it was inappropriate for representatives of the major banks to be lobbying the prime minister, ministers and the federal opposition as the royal commission hears horror stories of misconduct and disregard…
Aust dollar bounces after Morrison win
The Australian dollar has bounced off lows after Treasurer Scott Morrison surprisingly won a three-way battle for the leadership of the Liberal Party, paving the way to become Australia’s 30th prime minister. Morrison came from the middle to win the ballot although former home affairs minister Peter Dutton had been seen as the top contender…
Coca-Cola takes stake in Kobe Bryant-backed sports drink
Coca-Cola has taken a stake in BodyArmor, a sports drink supported by Kobe Bryant, in the soda giant’s latest bid to challenge market leader Gatorade, the two companies announced Tuesday.Coca-Cola will take a minority stake in BodyArmor that could later be increased and grant the smaller company access to the Coca-Cola bottling system. Terms were…
Ride share fleet company P2P shares fall
Shares in ride share and taxi fleet management company P2P Transport have fallen sharply after the company warned of a drop in earnings due to higher costs and lower revenue. P2P says earnings for 2017/18 are now expected to be between $10.1 million and $11.1 million, down from its prospectus forecast of $12.7 million. The…
Bankwest to close 29 branches
Bankwest is closing 29 branches along Australia’s east coast and cutting 200 jobs, saying customers are increasingly using mobile banking. Bankwest, which is owned by Commonwealth Bank, says the branches will close over a three-week period from August 17, reducing its east coast footprint to 14 branches. Managing director Rowan Munchenberg blamed rapid changes in…
German industrial orders bounce back in May
Industrial orders in Germany bounced back in May after a string of setbacks, official data showed Thursday, suggesting Europe’s largest economy may not face the sharp slowdown some observers feared.New contracts at industrial firms grew 2.6 percent month-on-month in May, federal statistics authority Destatis said in figures adjusted for price, seasonal and calendar effects.The performance…
Trump prepares China tariff target list as confrontation escalates
President Donald Trump on Friday was due to unveil a final list of Chinese imports that would face punishing tariffs but it remained uncertain whether he would hold fire as part of a negotiating strategy.Imposing the tariffs would escalate the trade confrontation with Beijing, and potentially set off a round of tit-for-tat retaliation, which economists…
Compumedics shares soar on joint venture
Shares in Compumedics have soared after the company said it plans to form a joint venture with a China-based health check organisation that will purchase one million of its sleep monitoring devices. The proposed joint venture with Meinian Onehealth Healthcare Holdings, known as Health 100, will commercialise Compumedics’ Somfit device – a wearable system for…
