1
Morrison admits emissions are increasing
Scott Morrison has admitted Australia’s emissions have been rising, as a new international report shows climate change is a key factor driving species to extinction.
“Yeah they have lifted,” the prime minister told ABC’s 730 program on Monday night, when asked about carbon emissions.
But he insists Australia is on track to meet its Kyoto 2020 target, which calls for emissions to be five per cent below 2000 levels.
Mr Morrison says investment in renewables has been increasing and spruiked his recent outlay of $3.5 billion towards climate policies.
The money will go towards the Climate Solutions Fund, invested in business energy efficiency, as well as projects such as Snowy Hydro 2.0.
“That’s what we’re doing, that’s how we meet our targets,” the prime minister said.
2
Consumer confidence ‘holding pattern’: ANZ
Consumer confidence dropped slightly last week but its “holding pattern” could be disrupted by the Reserve Bank’s decision on interest rates.
The ANZ-Roy Morgan Australian Consumer Confidence index remains above average despite a drop of 0.3 per cent from the previous week, with the dip linked to a lack of local economic news in the build up to the federal election.
“It seems consumer sentiment is in a holding pattern for now,” ANZ head of Australian economics David Plank said on Tuesday.
Confidence about current finances compared to a year ago was up 0.2 per cent while confidence about their financial situation next year fell 1.2 per cent.
3
Building jobs cut as values fall: survey
Construction jobs dwindled in April as house building activity contracted for the ninth month in a row, according to an industry survey.
The Australian Industry Group/Housing Industry Association Performance of Construction Index (PCI) report also recorded a 13th month of shrinking apartment building activity.
“Employment fell further in April and at a rate that was the steepest in almost six years,” Ai Group head of policy Peter Burn said.
“Falls in approvals, commencements and work in the pipeline is continuing to weigh on workloads for residential builders,” the report said, with businesses responding to lower demand by “exerting greater caution in their labour recruitment”.
“Residential building respondents to the Australian PCI cited reduced customer enquiries as well as the negative influences of tighter lending conditions, falling prices and generally weak home buyer sentiment,” the report said.
4
GrainCorp shares slump as LTAP walks away
GrainCorp shares have slumped more than nine per cent after suitor Long-Term Asset Partners withdrew its $2.38 billion takeover offer.
The stock sagged on Tuesday following the bulk grains handler’s post-trade announcement on Monday that LTAP had withdrawn the non-binding $10.42 per share offer it made in December 2018.
“Had due diligence supported our operational assumptions, we are confident we would have turned the LTAP proposal into a binding offer as contemplated,” LTAP chairman Tony Shepherd said in a separate release.
Shares in Graincorp were 6.74 per cent lower at $8.17 at 1035 AEST, having dropped by as much as 9.3 per cent at the open.
LTAP’s December 3 bid sent the company’s stock rocketing by as much as 34 per cent from a $7.30 price weighed down by a severe east coast drought.
GrainCorp hit a 23-month high of $9.90 in February, but the share price has tailed away after drought wilted its summer crop and international trade tensions simmered.
5
Shanghai copper, nickel hit 3-month lows
hanghai copper and nickel hit their lowest in more than three months on Monday as an escalation of a trade dispute between the United States and China revived concerns of a demand slowdown in China, the world’s top metals consumer.
President Donald Trump on Sunday announced he would hike tariffs on $US200 billion worth of Chinese goods this week and target hundreds of billions more soon, saying talks toward a trade deal with China were proceeding “too slowly” as China was attempting to renegotiate.
Trump’s remarks took Chinese officials by surprise and Beijing was considering cancelling this week’s trade talks in the US in light of his comments, the Wall Street Journal reported on Sunday night.
The most active copper contract on the Shanghai Futures Exchange (ShFE) fell as much as 3.1 per cent to 47,420 yuan ($US6,995.03) a tonne, its lowest level since January 29.
6
Purplebricks to exit Australian market
Online real estate agent Purplebricks is quitting the Australian market, two and half years after entering it with a promise to shake things up.
The UK fixed-fee company also said founder Michael Bruce would step down as chief executive immediately and it would review its US business.
The company said it would remain committed to its current Australian customers but would not accept new business.
"During the two and a half years that Purplebricks has been operating in Australia, market conditions have become increasingly challenging. This, combined with some execution errors, has resulted in the business not delivering the progress the Board expected," the company said in a trading update.
7
Aussie dollar rallies as RBA holds rates
Australian dollar rallied after the central bank defied pressure for an immediate cut in interest rates, though it left the door wide open for an easing should the jobs market not stay strong.
The Aussie dollar popped up almost half a cent to 70.42 US cents on the decision, giving it a gain for the day of 0.7 per cent.
The Reserve Bank of Australia ended its monthly policy meeting by keeping rates unchanged at 1.5 per cent, where they have been since mid-2016.
There had been much speculation it would ease given recent weak inflation outcomes.
Yet the central bank set the conditions for an easing by noting that inflation was too low and unemployment would have to fall further to get it rising.
👇Read More
联系客服
