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…
CommSec Daily Report Thursday
Latest newsAussie shares are improving at lunch for just the third time in ten sessions despite the closure of US markets last night for a holiday. The ASX 200 is up by 0.5 per cent or 31pts to 6215 and is being led higher by the big banks.While local stocks hit 10.5 year highs less…
Snapchat aims to spread reach to other apps
Snapchat messaging service on Thursday set out to spread its reach, and panache, to other smartphone apps with a software kit that promised to share little data about users.Parent company Snap said people will be able to use Snapchat credentials to sign into apps the way they might do using Facebook or Google credentials, while…
CommSec Daily Report Friday
Latest NewsFresh trade concerns between the US and major trading partners has sparked another downturn in global equity markets overnight with the US looking to impose tariffs on aluminium and steel imports from Europe, Canada and Mexico. Losses on all US indices has created a weak lead for the Aussie market which has opened softer….
