CommSec Daily Report Tuesday
Latest NewsLocal shares are a touch weaker towards lunch on Tuesday following a sharp sell-off on Wall Street overnight. The ASX 200 is slipping 10 points or 0.17% to 5718.4. US indices all closed weaker with the Dow Jones shedding ~1% after trading in a 900 point range. After a strong start, US indices swung…
Ex-KPMG exec pleads guilty to fraud on US regulators
A former executive director at ‘big four’ global accountancy firm KPMG pleaded guilty Tuesday to scheming to help the company cheat on oversight inspections, federal prosecutors announced.Cynthia Holder, a former accounting inspections leader later hired by KPMG, was one of six people charged in January with illegally using confidential information stolen from the Public Company…
Investors warn Australia over property price decline
A report from Pacific Investment Management Co. (Pimco) has suggested that the major banks in Australia could find themselves dealing with debt downgrades in the wake of a declining property market. The report came with a note from leading analysts and investment managers, who revealed that they “have grown more cautious with the external credits…
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…
