Category: Australias
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Australia’s Cooling Inflation Opens Door to RBA Rate Cuts
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Bread path links PMN Business Australia’s basic inflation has reduced more than expected in the last three months of 2024, and opened the door to reduce the rate of benefits as soon as you send the currency next month. The author of the article: Bloomberg News Swati Bandy It was…
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Australia’s Biggest Pension Fund Makes Historic $17M Bitcoin Investment, A National First
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This article is also available in Spanish. In a pioneering move for the Australian superannuation industry, AMP Ltd., a prominent superannuation and wealth management firm, has… Customized Nearly $27 million AUD (about $17.2 million USD) worth of Bitcoin (BTC) futures contracts. This investment marks AMP as one of the first…
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Australia’s GDP Growth Disappoints as Households Hunker Down
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Breadcrumb links BMN Business Australian economic growth remained sluggish in the three months to September, as higher government spending helped overcome weak exports and restrained consumer demand. Article writer: Bloomberg News Swati Pandey Published on December 3, 2024 • 2 min read You can save this article by registering for…
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Australia’s Q3 CPI Cools, but Sticky High Components May Keep RBA Hawkish
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Data from the Australian Bureau of Statistics (ABS) showed consumer price increases slowing from 1.0% to 0.2% in the third quarter of 2024 versus market expectations for a reading of 0.3%. On an annual basis, The CPI for the third quarter fell from 3.8% to 2.8%, above the middle of…
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Australia’s Elevated Inflation Backs Tight RBA Policy Stance
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Breadcrumb links BMN Business Core inflation in Australia remained high in the latest quarter, reinforcing the Reserve Bank’s view that price pressures will take time to dissipate and that monetary policy should remain restrained for the time being. Article writer: Bloomberg News Swati Pandey Posted on October 29, 2024 •…
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Australia’s TPG Telecom to sell fibre, fixed assets to Vocus for $3.54 billion By Reuters
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(Reuters) – TPG Telecom will sell its fiber and fixed network infrastructure assets, including broadband provider Vision Network, to Macquarie and telecoms group Vocus’s Aware Super superannuation fund for A$5.25 billion (US$3.54 billion). Under the deal, Vocus will acquire TPG’s fiber network assets and fixed, government and wholesale (EG&W) businesses,…
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JPMorgan acquires stake in Australia’s cash-strapped Star Entertainment By Reuters
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(Reuters) – U.S. bank JPMorgan Chase & Co. (NYSE:) has become a major shareholder in Star Entertainment, as shares of the beleaguered Australian casino operator have fallen sharply in the past few years amid liquidity issues, a stock exchange report showed. JPMorgan has become a shareholder with voting power of…
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Australia’s ANZ joins Project Guardian on tokenized assets
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Australia’s ANZ Bank is collaborating with the Monetary Authority of Singapore, Chainlink Labs and ADDX to explore token assets and blockchain interoperability. ANZ Bank, one of Australia’s “Big Four” banks, has become the first Australian bank to join Project Guardian, an initiative by the Monetary Authority of Singapore that aims…
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Australia’s ANZ joins Project Guardian on tokenized assets
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Australia’s ANZ Bank is collaborating with the Monetary Authority of Singapore, Chainlink Labs and ADDX to explore token assets and blockchain interoperability. ANZ Bank, one of Australia’s “Big Four” banks, has become the first Australian bank to join Project Guardian, an initiative by the Monetary Authority of Singapore that aims…
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Australia’s Inflation Is Broadly Cooler But Still High In August
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The Australian Bureau of Statistics (ABS) showed that headline inflation was 2.7% year-on-year in Augustslower than the 3.5% increase in July, but in line with the latest market estimates. Except for volatile elements and holiday travel, Consumer prices rose 3.0% in Augustslower than the 3.7% rise in July. Meanwhile, Reserve…
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Australia’s Inflation Is Broadly Cooler But Still High In August
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The Australian Bureau of Statistics (ABS) showed that headline inflation was 2.7% year-on-year in Augustslower than the 3.5% increase in July, but in line with the latest market estimates. Except for volatile elements and holiday travel, Consumer prices rose 3.0% in Augustslower than the 3.7% rise in July. Meanwhile, Reserve…
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FX Watch: Will Australia’s CPI Release Push GBP/AUD Back To Its Monthly Highs?
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The Australian dollar has been all over the charts – and it’s only Tuesday! In case you missed it, the commodity currency started the week reacting to last week’s Federal Reserve rate cut. More recently, it’s been getting a boost from the People’s Bank of China (PBOC) as it works…
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FX Watch: Will Australia’s CPI Release Push GBP/AUD Back To Its Monthly Highs?
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The Australian dollar has been all over the charts – and it’s only Tuesday! In case you missed it, the commodity currency started the week reacting to last week’s Federal Reserve rate cut. More recently, it’s been getting a boost from the People’s Bank of China (PBOC) as it works…
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Australia’s August Labor Market Data Shows Strength Despite High Interest Rates
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Data from the Australian Bureau of Statistics reflects the resilience of the Australian labour market in a high interest rate environment. The economy added a net 47.5K jobs in August, above the expected gain of 28.0K and slightly below the downwardly revised gain of 48.9K in July. The gains came…
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Kraken criticizes Australia’s ‘uncertain’ crypto rules after court ruling
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Kraken is calling for clearer cryptocurrency regulations in Australia after the Federal Court ruled that part of its margin rollover product violated local laws. Cryptocurrency exchange Kraken is arguing for clearer crypto regulations in Australia after the Federal Court ruled that its margin trading product violates local laws. On September…
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Australia’s Domino’s served with class action on ‘misleading’ Japan market comments By Reuters
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Australian pizza chain Domino’s Pizza Enterprises said Monday it has received a class action lawsuit from shareholders alleging it engaged in misleading or deceptive conduct regarding its expected performance in Japan. The company’s shares fell 2.5% to A$29.18, their lowest level since late August. The action was brought by Australian…
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Australia’s Domino’s served with class action on ‘misleading’ Japan market comments By Reuters
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Australian pizza chain Domino’s Pizza Enterprises said Monday it has received a class action lawsuit from shareholders alleging it engaged in misleading or deceptive conduct regarding its expected performance in Japan. The company’s shares fell 2.5% to A$29.18, their lowest level since late August. The action was brought by Australian…
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Analysis-Cash-strapped consumers are giving Australia’s liquor makers a headache By Reuters
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By Byron Kay SYDNEY (Reuters) – Recent sales declines have forced Sydney liquor store owner Louise Dowling to work 40 hours more a week to make up for staff she has had to let go, as Australia’s cost-of-living crisis prompts more people to drink less alcohol. “Without foot traffic, without…
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Australia’s Q2 GDP Miss Is Not Helping The Australian Dollar
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Australia’s economy grew by 0.2% in the second quarter of 2024, in line with an upwardly revised 0.2% growth in the previous quarter but below market estimates of a 0.3% rise. Link to the Australian Bureau of Statistics’ Q2 2024 GDP report The report detailed: Local final order Contributed 0.2%…