Gold is slightly lower after the US dollar soared to its highest level in more than two months and US equities raced higher following China's easing of monetary policy for the sixth time in a year, reviving expectations of a US rate hike.
Australia needs to reduce its corporate tax burden to remain competitive, according to a series of submissions to the federal government’s tax reform white paper.
A consortium including Programmed Maintenance Services has been named the preferred bidder for the ACT’s $150 million Law Courts Public Private Partnership, while the state government has signed a contract for Western Australia’s first schools PPP.
The Australian share market has opened stronger, buoyed by a lift in US and European shares after the European Central Bank suggested momentum for further economic stimulus is gathering pace.
The Australian dollar has climbed slightly higher after the European Central Bank kept interest rates on hold and flagged its readiness to step up its stimulus program.
US stocks have powered higher, lifted by dovish signals from the European Central Bank and strong earnings from McDonald's, Texas Instruments and others.
Gold has fallen to its lowest in more than a week, pressured by a strong US dollar and uncertainty over the timing of a US Federal Reserve interest rate rise.
Commodity prices are expected to rebound in the next two years, according to forecasts by the Economist Intelligence Unit, led by a sharp rise in the crude oil price and a lift in base metals.
Wall Street stocks have finished solidly lower following mixed earnings that included strong results from General Motors and disappointing figures from Yahoo.
Gold has fallen almost one per cent for its biggest one-day loss in three weeks on technical selling and long liquidation as the US dollar recovered ground against the euro amid uncertainty over the timing of a Federal Reserve interest rate hike.
Chinese consumer price inflation was a low 1.6 per cent in the 12 months to September, according to that country’s National Bureau of Statistics, highlighting that steam is coming out of the world’
The state government has released plans to formalise a ‘protection area’ around the Western Trade Coast industrial area, pleasing existing industry but disappointing land developers.
US oil prices have fallen as traders awaited the next day's US government report on commercial inventories, expecting an increase that would add to abundant global supplies.
Strength in the greenback has stripped away some gains made by the Australian dollar following upbeat comments from the Reserve Bank about the local economy.
US stocks have finished lower following mixed earnings, with the Nasdaq especially weak as a result of steep declines in biotech shares and Tesla Motors.
