By Byron Kaye and Roushni Nair (Reuters) -Australia’s Westpac Banking Corp on Monday threw out a cost-cutting target citing inflation and flagged thinner profit margins going ahead, but investors pushed its shares higher after it handily beat expectations for first-half profit. CEO Peter King said inflation was pushing up overheads as the 206-year-old bank abandoned…
SYDNEY (Reuters) – Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, while cost pressures were still posing a challenge for firms. The survey from National Australia Bank Ltd (NAB) released on Monday showed its index of business conditions fell two points…
SYDNEY (Reuters) – Australia’s centre-left Labor government said on Monday it would include A$14.6 billion ($9.84 billion) over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation. The plan is designed to directly ease price pressures and inflation, the federal government said,…
By Lucy Craymer WELLINGTON (Reuters) -Gastroenterologist Wesley Kasen arrived in Hawke’s Bay New Zealand in February with his wife Marnie, two kids and dog from Colorado. Their arrival filled a vacancy at the local hospital. The Kasens are part of a migrant boom helping to ease the country’s acute labour shortages – a relief for…
By Sinéad Carew and Naomi Rovnick NEW YORK/LONDON (Reuters) – A global gauge of stocks rallied and U.S. Treasuries and gold sold off on Friday as strong U.S. jobs data brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. The non-farms payroll report showed U.S….
By Michael Holden LONDON (Reuters) -King Charles greeted excited crowds gathering for his coronation before hosting a reception for world leaders at Buckingham Palace on Friday ahead of what will be the biggest ceremonial event in Britain for 70 years. Charles, 74, and his wife Camilla will be crowned at London’s Westminster Abbey in a…
By Karen Brettell NEW YORK (Reuters) – The dollar gave back earlier gains against the euro but stayed stronger against the yen on Friday after jobs gains and wage growth for April beat economists’ forecasts but showed downward jobs revisions for March. Employers added 253,000 jobs, beating economists’ forecasts for a 180,000 gain. U.S. average…
SYDNEY (Reuters) – Australia’s government is set to cut its forecasts for inflation while also predicting lower unemployment for longer in 2023/24 budget next week, a mix that it hopes will generate much-needed growth in real wages. Treasurer Jim Chalmers will now forecast unemployment of 3.5% for the June quarter of this year and 4.25%…
(Reuters) – Serbian President Aleksandar Vucic has proposed new gun control measures after two mass shootings in which 17 people were killed, including at least eight children. Here are some details on how Serbia and other countries have responded to such mass shootings. SERBIA Vucic proposed a moratorium on gun permits regardless of weapon type…
SYDNEY (Reuters) – Australian Prime Minister Anthony Albanese said on Friday he was frustrated for not yet finding a diplomatic fix over the continued detention of Julian Assange and that he remained concerned about the mental health of the WikiLeaks’ founder. “I know it’s frustrating, I share the frustration,” Albanese told ABC television from London…
