The Minns government is ramping up pressure on Transurban to overhaul its toll road contracts in NSW, arguing that baked-in increases add costs not just to households but to businesses, one of which is paying more than $7 million a year in charges to move goods around Sydney. Data from… Read More »One business is paying $7.4m in Sydney road tolls
Poor liquidity management by the $3.9 trillion superannuation sector could threaten financial stability similar to the near-collapse of pension funds in Britain in 2022 after a rush on margin calls, the Reserve Bank has warned. RBA governor Michele Bullock told senators the sector’s sheer size meant it could “exacerbate ructions in the… Read More »UK pension fund crisis shows super risk to markets in Australia: RBA
The Australian sharemarket is poised to retreat on Monday as investors turn increasingly negative on already bruised mining companies after authorities in China failed to impress with their latest stimulus package. Futures indicate the S&P/ASX 200 will fall 0.4 per cent, or 36 points, at the opening bell on Monday.… Read More »ASX to open lower as Beijing stimulus plans fail to excite investors
The stock market climbed to another round of records on Friday, as the Dow and S&P 500 wrapped up their best week in a year after Donald Trump’s election win. The Dow Jones Industrial Average rose 259.65 points, or 0.59%, to close at 43,988.99. The blue chip average traded above 44,000 for… Read More »Dow tops 44,000 for first time, S&P 500 closes at record high to cap election week rally: Live updates
It’s been a tumultuous time for AGL Energy, the $7.7 billion electricity and gas giant backed by billionaire businessman Mike Cannon-Brookes, with plenty of hand wringing about the company’s strategy. Now that this has been ironed out – and with shares up more than 10 per cent since the start… Read More »AGL Energy prepares to unveil big batteries play; acquires Firm Power
Aurizon must convince investors its prospects for earnings growth are sound after the stock suffered a 9 per cent drop on a lower than expected full-year profit result. The 25 per cent jump in 2023-24 net profit to $406 million and a $150 million share buyback failed to hearten investors,… Read More »Aurizon tumbles on weak earnings outlook
Hedge funds in Asia are increasingly targeting Australian mining companies betting that the rout in the sector will deepen from weak commodity prices and the threat to earnings from elevated costs this reporting season. Of the top 20 most shorted stocks on the ASX last week, 15 were mining companies,… Read More »Asian short sellers are ramping up bets against Australia’s miners
A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. The producer price index, which measures selling prices that producers get for goods and services, increased 0.1% on the month, the Labor Department’s Bureau of… Read More »Wholesale inflation measure rose 0.1% in July, less than expected
The S&P 500 ticked higher Monday as Wall Street geared up for a busy week of corporate earnings and looked ahead to a key policy announcement from the U.S. central bank. The broad market index gained 0.08%, closing at 5,463.54, and the Nasdaq Composite advanced 0.07% to end at 17,370.20.… Read More »S&P 500, Nasdaq eke out small gain Monday as investors gear up for big tech earnings this week
The prudential regulator will not relieve borrowers of the 3 per cent interest rate buffer they must absorb before qualifying for a home loan because the economy faces too much uncertainty from inflation, geopolitics and leverage. As Commonwealth Bank shares claimed a fresh record of $134.90 on Monday, Australian Prudential… Read More »‘Risks elevated’: APRA holds banks’ mortgage rate buffer at 3pc