Category: Australia
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Domino’s Australia franchise slumps 7% as high costs take larger slice of profit By Reuters
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(Reuters) – Shares of Australia-based Domino’s Pizza Enterprises Inc fell more than 7% on Wednesday after the franchise operator reported a weak start to the 2025 financial year as rising costs and frugal consumers weighed on profitability. Domino’s Pizza Enterprises operates the largest master franchise of the American pizza giant…
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Australia, NZ dollars grapple with risk aversion as US growth fears weigh By Reuters
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SYDNEY (Reuters) – The Australian dollar held near three-month lows on Friday after weak U.S. data fueled fears of a sharp slowdown in the world’s largest economy, prompting investors to seek refuge in the safe-haven yen and Swiss franc. The single currency was steady at $0.6501, having fallen 0.5% overnight…
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Australia struggling to improve Indigenous livelihoods, government report shows By Reuters
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By Ringo Jose SYDNEY (Reuters) – Australia is struggling to improve the lives of its indigenous people with only five out of 19 measures on track to meet targets, a government report showed on Wednesday. Aboriginal and Torres Strait Islander people make up 3.6 per cent of Australia’s population of…
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Cooler Core Inflation In Australia Reduced RBA Rate Hike Odds
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Australian Bureau of Statistics data showed that inflation in Australia maintained its quarterly growth of 1.0% in the second quarter of 2024, which was driven by price increases in food, clothing, alcohol and tobacco products. On an annual basis, the pace of price increases accelerated from 3.6% to 3.8% in…
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Australia Rate-Hike Debate Set to Crescendo With Inflation Data
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Breadcrumbs Path Links PMN Business The debate over whether the Reserve Bank of Australia needs to tighten monetary policy late in the cycle is likely to be resolved with the release of quarterly inflation data this week – and the currency is set to be affected by the fallout. Article…
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HSBC Australia To Block Crypto Payments From 24 July 2024
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In a move that sent shockwaves through the cryptocurrency community, HSBC Australia, one of the country’s leading financial institutions, has announced that… Advertise A blanket ban on all payments to cryptocurrency exchanges. From July 24, 2024, the bank will automatically reject any transactions it believes are linked to digital assets,…
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Australia Q2 CPI preview – “June CPI should not close the door on a rate cut”
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Key points from Westpac Bank in its CPI preview, which said: “June CPI should not close the door on interest rate cuts”: Westpac Bank confirmed its June quarter CPI forecast of 1.0% q/3.8% y/y which we first issued on June 18 and left unchanged in our July 2 update. Our…
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Kraken Institutional Debuts Custody Services in UK, Australia Crypto Markets
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Kraken Institutional, the specialized division serving institutional investors of US cryptocurrency exchange Kraken, has announced the international expansion of its custody services into the UK and Australia. This step represents its first project after its first launch earlier this year. Kraken Custody Expansion According to the official press releaseInstitutional clients…
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BHP to suspend Western Australia nickel operations By Reuters
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MELBOURNE (Reuters) – Australian miner BHP Group said on Thursday it would temporarily suspend operations at its Nickel West and West Musgrave projects from October as it grapples with a sharp drop in metals prices and oversupply in the global market. The world’s largest listed miner is set to review…
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Australia auto parts retailer Bapcor rejects Bain Capital’s $1.2 billion bid By Reuters
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By Scott Murdock and Rajasik Mukherjee SYDNEY (Reuters) – Australian auto parts retailer Babcor on Tuesday rejected a A$1.83 billion ($1.23 billion) takeover bid from private equity firm Bain Capital, saying it did not fully reflect the company’s value. The company’s shares fell about 4.3% in early trading Tuesday. Australia’s…
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Reserve Bank of Australia meet Monday & Tuesday, likely cash rate hold @ 4.35%, 12 yr high
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The Reserve Bank of Australia meets today and tomorrow, Monday 17 June 2024 and Tuesday 18 June 2024. The bank’s decision is scheduled to be issued at 2.30pm Sydney time on Tuesday This is 0430 GMT and 0030 EST RBA Governor Bullock will hold her press conference an hour later,…
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China’s Premier Li arrives in Australia, says ties ‘back on track’ By Reuters
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Written by Kirsty Needham SYDNEY (Reuters) – Chinese Premier Li Qiang arrived in Australia on Saturday, saying relations were “back on track” at the start of the first visit by a Chinese premier to the major trading partner in seven years. Australia is “uniquely positioned to connect West and East”…
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China’s Premier Li arrives in Australia, says ties ‘back on track’ By Reuters
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Written by Kirsty Needham SYDNEY (Reuters) – Chinese Premier Li Qiang arrived in Australia on Saturday, saying relations were “back on track” at the start of the first visit by a Chinese premier to the major trading partner in seven years. Australia is “uniquely positioned to connect West and East”…
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Australia Bans Use Of Crypto For Online Gambling
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The Australian government has cracked down on online gambling by banning the use of cryptocurrencies and credit cards for online betting. This measure comes in an attempt to limit investors’ losses in the country. The Australian government bans the use of cryptocurrencies in online gambling On Monday, The Canberra Times…
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XTrade Lost Australia License for Lapses in CFDs Offerings
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The Australian Financial Market Regulatory Authority has revoked the retail forex and CFDs trading license of issuer XTrade.AU Pty Ltd, trading as XTrade, over a range of lapses. ASIC revokes XTrade’s license Announced today (Thursday), the broker has also moved to the Administrative Appeals Tribunal (AAT) on 29 April 2024…
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Reserve Bank of Australia Governor Bullock says she expects Q1 GDP growth to be low
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Reserve Bank of Australia Governor Bullock reads the writing on the wall for Australia’s economic growth: Australia’s very weak economic growth outlook has been cut even further Reserve Bank of Australia Governor Bullock and Assistant Governor (Financial Markets) Kent appear before the Australian Parliament Before the Senate Economic Legislation Committee…
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OKX Launches Crypto Platform In Australia
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In a strategic step to strengthen its presence in the leading Asia-Pacific region OKX crypto exchange It has officially launched its cryptocurrency platform in Australia. This achievement represents an important step in OKX’s broader global expansion efforts, as the company seeks to consolidate its position as a major player in…
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Australia Eyes Unreported Crypto Transactions: Taxman Targets 1.2 Million Accounts
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The Australian Tax Office (ATO) has requested personal data and transaction details from cryptocurrency exchanges for up to 1.2 million accounts to crack down on potential tax evaders, Reuters reported. The move represents a major escalation in the ATO’s efforts to ensure compliance in the rapidly expanding cryptocurrency market. Overseeing…
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Webull Launches ’24-Hour Trading’ in Australia
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Webull, a US stock trading platform with a global presence, has expanded its offerings to traders in Australia by offering 24-hour trading services. However, the service will be limited to trading US stocks and ETFs. Compatibility with US market hours According to today’s (Friday) announcement, the platform will initially support…