GDP: Low incomes mask economic strength
Video will begin in 5 seconds. Mal Maiden: Market surge With markets rallying and minerals bouncing back, Mal Maiden examines if the bearishness is over. PT4M3S 620 349 The Australian economy grew 0.6 per cent in the final quarter last year as consumer spending, housing construction and public sector expenditure offset a fall in export prices and company investment and profits.However, many Australians feel the economy's performance is weaker than the numbers suggest, thanks t..>> view originalBanks surge leads ASX above 5000 on strong GDP numbers
The big four banks did the bulk of the heavy lifting in the session. The sharemarket broke through the crucial 5000 mark on Wednesday, fuelled by a strong rally in energy and banking stocks, and with investors cheering data showing growth in the domestic economy beat all forecasts.The benchmark S&P/ASX 200 index closed 2 per cent higher at 5021.2, while the broader All Ordinaries finished 1.9 per cent higher at 5083.5. Gross domestic product rose by 0.6 per c..>> view originalAustralian homes at risk from faulty wiring
The insulation on the affected cables deteriorates and becomes brittle far more quickly than normal wires. Electricians and builders are ignoring a recall of faulty electrical wiring, leaving tens of thousands of homes at risk of fire, the consumer watchdog says.Infinity and Olsent branded power cables remain a fire or electrocution risk in 22,000 homes and offices, according to Australian Competition and Consumer Commission, despite the products being recalle..>> view originalOptus calls for broadband contract cuts as NBN rolls out
Optus chairman Paul O'Sullivan wants legislation to allow users to quit contracts one they are connected to the NBN. Photo: Christopher Pearce Optus chairman Paul O'Sullivan has called for new laws allowing millions of internet users to quit their contracts once they are connected to the national broadband network and for Telstra to split its phone-line network from the main company.Speaking at a Trans-Tasman Business Circle event in Sydney on Wednesday, Mr O..>> view originalBHP Billiton, Rio Tinto, Glencore raise concerns for commercial property
BHP Billiton is enduring one of its toughest ever years, but what does that mean for landlords? Jessica Shapiro Plunging commodity prices and losses from the world's biggest miners have shaken the foundations of Australia's office towers with thousands of square metres of space coming on to the market.Major landlords such as China Investment Corporation, Australia's Future Fund, Investa Commercial Property Group, DEXUS Property Group, GDI, CBUS..>> view originalXenophobia jeopardising foreign investment in Australia, Tourism Minister warns
Xenophobia jeopardising foreign investment in Australia, Tourism Minister warns Posted March 02, 2016 16:32:27 Xenophobia could be jeopardising hundreds of millions of dollars in foreign investment needed by Australia, Tourism Minister Richard Colbeck has told the ABC.Senator Colbeck, who is also the assistant minister for trade and investment, said he was "significantly concerned" about the negative rhetoric surrounding the recent sale of Tasmania's Van Diemen's Land..>> view originalneed2know: ASX to join global rally
Local shares are poised to leap higher amid a rally in global equities. Australian fourth-quarter GDP data ahead. Oil and iron ore jump.What you need2know Mal Maiden: Market surge With markets rallying and minerals bouncing back, Mal Maiden examines if the bearishness is over. SPI futures up 86 pts or 1.8% to 4975 at about 7am SydneyAUD fetching 71.80 US cents, 81.76 Japanese yen, 66.01 Euro cents and 51.41 British pence Construction spending in the US increased 1.5 per cent t..>> view originalTaskforce to investigate CTP fraud
Qld Nickel refinery death may be imminent
Qld Nickel refinery death may be imminentA union says everything needs to be done to stop Clive Palmer's nickel refinery being wound up by the end of the week.Queensland Nickel's administrators FTI Consulting are seeking a cash injection to ensure the plant near Townsville can continue to operate.FTI has asked the Queensland government for an emergency $10 million overdraft facility to deal with a cash flow crisis, and warns that without it the plant will close and Queensland Nickel will end up ..>> view originalSA slams Canberra's health premium increase "gross hypocrisy"
South Australia Premier Jay Weatherill has attacked the federal government's approval of a more than 5 per cent increase in private health insurance premiums. Alex Ellinghausen A premier labelled as "gross hypocrisy" the federal government's approval of a 5.6 per cent increase in private health insurance premiums compared to an offer of just 2.5 per cent increased funding for the states to fund public hospitals.Federal Health Minister Sussan Le..>> view original
Wednesday, March 2, 2016
GDP: Low incomes mask economic strength and other top stories.
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