DIRS.INFO The most relevant business & tech news

☆ Australia's central bank holds rates steady but retains hiking bias
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSYDNEY, Dec 5 (Reuters) - Australia's central bank held interest rates steady on Tuesday as expected, buying it more time to assess the state of the economy and to determine whether further hikes might be needed next year. Wrapping up its December policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, adding economic data received since November had been broadly in line with expectations. "Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labour market," RBA Governor Michele Bullock said. She has since warned that inflation has become increasingly driven by domestic demand, requiring a more "substantial" response from interest rates.

Persons: Daniel Munoz, Michele Bullock, Bullock, Stella Qiu, Jamie Freed Organizations: Reserve Bank of Australia, REUTERS, Rights, Thomson Locations: Sydney, Australia

☆ Australia Oct inflation slows more than expected as goods prices fall
▼ + stars: | 2023-11-29 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

For the month, CPI fell 0.3%, driven by declines in petrol, rent and holiday travel. A closely watched measure of core inflation, the trimmed mean, rose an annual 5.3% in October, easing from 5.4% the previous month. "It's hard to find bad news in Australia's October inflation print," said Harry Murphy Cruise, an economist at Moody’s Analytics. Prices for tradable goods fell 1.6% in October from a month earlier. It also left the door open to further tightening if necessary to meet its annual inflation target of 2-3%.

Persons: Daniel Munoz, Harry Murphy Cruise, Jonathan Kearns, Wayne Cole, Stella Qiu, Lincoln, Sam Holmes Organizations: REUTERS, Rights, U.S ., Australian Bureau, Statistics, Moody’s, Reserve Bank Board, Reserve Bank of Australia, Challenger, Thomson Locations: Australia

☆ Australia Oct retail sales slip as consumers hold off for Black Friday sales
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

Women shop for clothes on a store in a shopping mall in Sydney's central business district (CBD) Australia, February 5, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSYDNEY, Nov 28 (Reuters) - Australian retail sales unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month. Retail sales fell 0.2% from September to A$35.77 billion, data from the Australian Bureau of Statistics (ABS) showed on Tuesday. "This is a pattern we have seen develop in recent years as Black Friday sales grow in popularity." Data from e-commerce firm Shopify also showed that point-of-sale sales made by its merchants in Australia during this year's Black Friday sales grew 27% from a year ago.

Persons: Daniel Munoz, Ben Dorber, Shopify, that's, Marcel Thieliant, Michele Bullock, Stella Qiu, Tom Hogue, Edwina Gibbs Organizations: REUTERS, Rights, Australian Bureau of Statistics, Black, ANZ, Asia Pacific, Capital Economics, Reserve Bank of Australia, Thomson Locations: Australia

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. That has left NAB, ranked third for mortgages but first for business loans, in a prime position as the country's retail lenders look elsewhere for growth. We're not abandoning (mortgages), we're tilting towards our business bank." Larger mortgage rival Westpac (WBC.AX) also posted a higher annual profit on Monday, despite a decline in home loan profit. The company's net interest margin, a closely-watched bank metric of lending interest income minus payouts to deposit accounts, shrank to 1.71% as of Sept. 30, from 1.77% at March-end.

Persons: Daniel Munoz, Ross McEwan, We're, Azib Khan, Roushni Nair, Archishma Iyer, Shounak Dasgupta, Jamie Freed Organizations: National, REUTERS, NAB, SYDNEY, National Australia Bank, Westpac, P, Thomson Locations: Sydney, Australia, Bengaluru

☆ National Australia Bank's second-half cash profit falls as inflation persists
▼ + stars: | 2023-11-09 | by ( Roushni Nair | ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. But for the half-year ended Sept. 30, cash earnings sank as the impact of monetary policy tightening and inflationary pressures crippled households and the economy. The annual performance of its business and institutional banking divisions stood out with of 10.1% and 14.9% in cash profits respectively, while the personal banking division was a drag on its results, posting a 9.1% decline in cash earnings to A$1.45 billion. The bank reported a jump in its credit impairment charge for the year to A$802 million, up from just A$125 million a year ago, which it said reflected volume growth and worsening asset quality. The bank declared a final dividend of 84 Australian cents per share, up from 78 Australian cents apiece a year earlier.

Persons: Daniel Munoz, Ross McEwan, Roushni Nair, Archishma Iyer, Shounak Dasgupta, Jamie Freed Organizations: National, REUTERS, National Australia Bank, NAB, Thomson Locations: Sydney, Australia, Bengaluru

☆ EUROPE Australia hikes but tempers its outlook
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. The Aussie dollar fell more than 0.8% and Australian government bonds rallied because the 25 basis point hike by the Reserve Bank of Australia came with a softening of language on whether further hikes would be needed. It was an otherwise quiet session in the absence of major updates that might have consequences for the interest rate outlook. Last week's chaos in Chinese money markets has subsided but it left behind a glimpse of financial pressures beneath the surface and the challenges around China's uneven recovery from the COVID-19 pandemic. British house prices, German industrial output and European producer prices are due later on Tuesday, as are earnings from UBS (UBSG.S).

Persons: Daniel Munoz, Tom Westbrook, Read, SoftBank, Benjamin Netanyahu, Fed's Waller, Logan, Schmid, ECB's de, Edmund Klamann Organizations: Reserve Bank of Australia, REUTERS, Bond, South, Read Reuters, UBS, 163rd Melbourne, NY, Thomson Locations: Sydney, Australia, Asia, Japan, British, Gaza

☆ Australia Sept retail sales climb at fastest pace in 8 months
▼ + stars: | 2023-10-30 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photo Acquire Licensing RightsSYDNEY, Oct 30 (Reuters) - Australian retail sales rose at the fastest pace in eight months in September, suggesting some resilience in consumer spending which would add to the case for an interest rate hike as soon as next week. The Australian dollar rose 0.4% to $0.6360, while three-year government bond yield hit a fresh 12-year high of 4.388%. "Downside risks to household consumption have been a key focus of the RBA, but those do not look to have been realised so far." The broad softening in consumer spending has been one major reason that the RBA has left interest rates unchanged for four straight months now. However, a sustained rebound in housing prices could lend some support to household consumption.

Persons: Daniel Munoz, Ben Dorber, Taylor Nugent, Downside, Stella Qiu, Tom Hogue, Edwina Gibbs, Miral Organizations: REUTERS, Rights, Reserve Bank of, Australian Bureau of Statistics, National Australia Bank, Thomson Locations: Sydney's, Australia, Reserve Bank of Australia, Queensland

☆ Commonwealth Bank of Australia raises $794 mln worth of debt
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:A woman walks past a Commonwealth Bank of Australia logo and ATM in Sydney, Australia, February 7, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsOct 25 (Reuters) - Commonwealth Bank of Australia (CBA.AX) on Wednesday announced the issuance of A$1.25 billion ($794.38 million) worth of subordinated notes. The issue of subordinated securities will not have a material impact on its financial position, the country's largest lender said. The bank is issuing A$550 million worth of subordinated fixed to floating rate securities and A$700 million worth of subordinated floating rate securities, both due in a decade. "The subordinated securities potentially exchange into fully paid ordinary shares of CBA if a non-viability trigger event occurs," the bank said.

Persons: Daniel Munoz, Sameer Manekar, Shailesh Kuber Organizations: Commonwealth Bank of Australia, REUTERS, Wednesday, CBA, Thomson Locations: Sydney, Australia, Bengaluru

☆ Australia's central bank sees risks mounting in global markets, China property
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. In an effort to curb surging inflation, the central bank has lifted interest rates to a decade-high of 4.1%, causing widespread financial stress among households where debt levels are at record peaks. "A small, but rising share of borrowers are on the cusp, or in the early stages, of financial stress," the review stated. "A tightening in global financial conditions could transmit to Australia via linkages in funding markets and risk aversion," the review said. Another area of concern was China's property sector where financial stress was proving a drag on the world's second largest economy and Australia's single biggest export market.

Persons: Daniel Munoz, Michele Bullock, Wayne Cole Organizations: Reserve Bank of Australia, REUTERS, Rights, Financial, Thomson Locations: Sydney, Australia, China, U.S, United States, AUSTRALIA

☆ Australia fines lender NAB $1.4 mln for wrongfully charging fees
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsCompanies National Australia Bank Ltd FollowSept 22 (Reuters) - The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) <NAB.AX> a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday. Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Commission (ASIC) said. The bank wrongfully charged 2,888 personal banking customers and 513 business clients payment fees totalling A$139,845 on 74,593 occasions, the regulator added. Shares of NAB were trading 0.7% lower as of 0221 GMT after declining as much as 1.3% earlier in the day.

Persons: Daniel Munoz, Sarah Court, Sameer Manekar, Ayushman, Janane Venkatraman, Dhanya Ann Thoppil Organizations: National, REUTERS, National Australia Bank, Australian Federal Court, Australia Bank, Australian Securities & Investments Commission, NAB, Reuters, Royal Commission, Thomson Locations: Sydney, Australia, Bengaluru

☆ Australia fines lender NAB $1.4 million for wrongfully charging fees
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsCompanies National Australia Bank Ltd FollowSept 22 (Reuters) - The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) <NAB.AX> a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday. Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Commission (ASIC) said. The bank wrongfully charged 2,888 personal banking customers and 513 business clients payment fees totalling A$139,845 on 74,593 occasions, the regulator added. NAB in an email to Reuters acknowledged "some customers were incorrectly charged for periodical payment fees several years ago," adding that it had completed a remediation program and repaid more than A$8.3 million to affected customers.

☆ Australia's Costa Group gets lower buyout offer from PE firm Paine Schwartz
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

Under the proposal, Costa's shareholders would receive A$3.20 apiece for the remaining 85.16% stake PSP does not already own, lower than the A$3.50 apiece offer received in July. The latest offer still represents a 8.8% premium to Costa's last closing price. Costa, Australia's leading grower, packer and marketer of fresh fruit and vegetables, said it is considering the lower offer and is continuing to engage with PSP regarding the terms and conditions. PSP paid A$2.60 a share for a 13.78% stake in Costa in October, which it increased to 14.84% in late March. Costa had given PSP access to its books on a non-exclusive basis for eight weeks after receiving the initial offer in July.

Persons: Daniel Munoz, Paine Schwartz, packer, Costa, Himanshi, Lisa Shumaker, Stephen Coates Organizations: REUTERS, Costa Group Holdings, Monday U.S, Paine Schwartz Partners, PSP, Thomson Locations: Sydney, Costa, Bengaluru

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSept 14 (Reuters) - National Australia Bank (NAB) (NAB.AX) said on Thursday it would shut its Hong Kong branch, as offices in Singapore, Tokyo and Shanghai were its preferred customer outreach hubs in Asia. The move is likely to impact about 50 roles in the Hong Kong, however, the lender said in a statement that its "too early" to confirm the impact of the branch closing. "The decision probably reflects that foreign businesses are not finding operating conditions in Hong Kong as conducive as they once were," said Tim Waterer, chief market analyst at KCM Trade. The office shutdown comes after Finance Sector Union said earlier this month that the bank was planning to cut 222 back-office jobs.

Persons: Daniel Munoz, Tim Waterer, NAB's, Navya Mittal, Subhranshu Sahu, Rashmi Organizations: National, REUTERS, National Australia Bank, NAB, KCM, Westpac, Finance Sector Union, Thomson Locations: Sydney, Australia, Hong Kong, Singapore, Tokyo, Shanghai, Asia, Bengaluru

☆ Aussie lender NAB to cut 222 back-office jobs, says trade union
▼ + stars: | 2023-09-07 | by ( Poonam Behura | ) www.reuters.com time to read: +1 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz Acquire Licensing RightsSept 6 (Reuters) - National Australia Bank (NAB.AX) is planning to cut 222 back-office jobs, the Finance Sector Union (FSU) said in an emailed response to Reuters. FSU, a white-collar trade union, said NAB’s restructuring will impact its departments such as Personal Direct Lending, Technology and Operations, Corporate Finance and Client Coverage. "This means certain roles may no longer be required or need to be moved to support other teams." NAB reported a 5% jump in third-quarter cash earnings in August, including a decline in its margins due to higher home lending competition and deposit costs.

Persons: Daniel Munoz, Julia Angrisano, Poonam, Shilpi Majumdar, Devika Organizations: National, REUTERS, National Australia Bank, Finance Sector Union, FSU, Reuters, Technology, Corporate Finance, NAB, Australian, Commonwealth Bank of Australia, Westpac Banking Corp, Thomson Locations: Sydney, Australia, Bengaluru

☆ RBA to hold rates at 4.10% on Tuesday, but will hike again next quarter: Reuters poll
▼ + stars: | 2023-09-01 | by ( Devayani Sathyan | ) www.reuters.com time to read: +3 min

Two respondents in the Aug 30-Sept 1 poll expected a 25 basis point (bps) hike. Among major local banks, ANZ, CBA, and Westpac expected rates to remain unchanged until at least end-2023, while NAB predicted one more rate hike to 4.35% in November. Three economists expected two more 25 bps hikes in the fourth quarter. While BlackRock and Deutsche Bank expected hikes in November and December, Citi expected moves in October and November. "We think they'll maintain the tightening bias and there may be further risk of a rate hike later in the year," said Benjamin Picton, senior strategist at Rabobank.

Persons: Daniel Munoz, Taylor Nugent, Michele Bullock's, Benjamin Picton, Devayani Sathyan, Susobhan Sarkar, Anant Chandak, Ross Finley, Kim Coghill Organizations: Reserve Bank of Australia, REUTERS, Rights, NAB, ANZ, CBA, Westpac, BlackRock, Deutsche Bank, Citi, Rabobank, Thomson Locations: Sydney, Australia

☆ Aussie lender NAB to cut 10% jobs in markets division, Australian Financial Review reports
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsAug 28 (Reuters) - National Australia Bank (NAB.AX) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources. The country's second-biggest bank would begin the layoffs as early as this week but is yet to announce the changes internally, AFR said. Layoffs at NAB would include capital markets types working within its corporate and institutional banking unit, where its markets business sits with a team of about 600. Reporting by Poonam Behura in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Munoz, AFR, Poonam, Alison Williams Organizations: National, REUTERS, National Australia Bank, Australian Financial, Commonwealth Bank of Australia, Westpac Banking Corp, NAB, Thomson Locations: Sydney, Australia, Bengaluru

☆ Australia's Coles annual profit misses estimates; shares slip
▼ + stars: | 2023-08-22 | by ( Nausheen Thusoo | ) www.reuters.com time to read: +2 min

A woman walks in the fruit and vegetables section at a Coles supermarket in Sydney, Australia, February 20, 2018. Coles flagged modest supermarket sales for early fiscal 2024 alongside early signs of customers shifting from out-of-home dining. Shares of Coles Group Ltd (COL.AX) are down 3.8 % at A$16.63 as at 0002 GMT, making it one of the top losers on the benchmark. Coles' higher profit comes on the back of higher supermarket sales, which help offset flat liquor sales revenue for the year. The supermarket division, Coles' biggest revenue-generating segment, incurred A$36,746 million revenue during the year, 6.1% higher than a year ago.

Persons: Daniel Munoz, Australia's, Coles, Nausheen Thusoo, Sameer Manekar, Krishna Chandra Eluri, Matthew Lewis, Gerry Doyle Organizations: Coles, REUTERS, cps, Australia's Coles, Jefferies, UBS, Coles Group Ltd, Thomson Locations: Sydney, Australia, Melbourne, Bengaluru

☆ Australia's Coles flags modest start to fiscal 2024; 2023 profit rises
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

A woman walks in the fruit and vegetables section at a Coles supermarket in Sydney, Australia, February 20, 2018. 2 grocer said supermarket volumes have remained modestly positive for fiscal 2024 compared with the prior corresponding period alongside early signs of customers shifting from out-of-home dining. The Melbourne-based company also said it expects cost-of-living pressure to remain for Australian households in fiscal 2024. Coles' higher profit comes on the back of higher supermarket sales which help offset flat liquor sales revenue for the year. The supermarket division, Coles' biggest revenue-generating segment, incurred A$36,746 million revenue during the year, 6.1% higher than a year ago.

Persons: Daniel Munoz, Australia's, Coles, Nausheen Thusoo, Sameer Manekar, Krishna Chandra Eluri, Matthew Lewis Organizations: Coles, REUTERS, cps, Australia's Coles, Thomson Locations: Sydney, Australia, Melbourne, Bengaluru

Coles and Woolworths sell two-thirds of Australian groceries by dollar value, and are seen as bellwethers of consumer behaviour. Full-year NPAT of Woolworths is seen rising to A$1.74 billion from A$1.51 billion, and for Wesfarmers to A$2.47 billion from A$2.35 billion last year. Woolworths and Wesfarmers report annual results on Aug. 23 and Aug. 25, respectively. They added that rising operating costs are a headwind for retail companies, but focus will be on how these costs are managed. Reporting by Himanshi Akhand and John Biju in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Munoz, Jefferies, Coles, Tim Waterer, Himanshi Akhand, John Biju, Rashmi Organizations: REUTERS, Coles Group, Woolworths, KCM Trade, Kmart, Coles, UBS, Thomson Locations: Sydney's, Australia, Bengaluru

☆ Aussie lender NAB's quarterly margins decline on stiff competition
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. A high interest rate environment has benefited Australian banks, but they now face headwinds from rising bad debt and increasing competition for mortgages. Last week, the country's biggest lender Commonwealth Bank of Australia (CBA.AX) posted record annual profit on the back of rising interest rates, but warned higher living costs were pushing up debt arrears and competition was squeezing margins. NAB's net interest margin - a key measure of profitability - slipped to 1.72% in the April-June quarter from 1.77% as at March 31. The country's second-biggest lender, however, reported a 5% increase in cash earnings from higher interest rates.

Persons: Daniel Munoz, NIM, Ross McEwan, Upasana Singh, Archishma Iyer, Shilpi Majumdar, Shinjini Organizations: National, REUTERS, National Australia Bank, Commonwealth Bank of Australia, NAB, CBA, Analysts, Thomson Locations: Sydney, Australia, 3Q23, Bengaluru

☆ Aussie lender NAB's Q3 margins decline; shares up on cash earnings beat
▼ + stars: | 2023-08-14 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. Shares of the country's second-biggest bank rose 1.3% to trade at A$28.70 at 0115 GMT. Last week, the country's biggest lender Commonwealth Bank of Australia (CBA.AX) posted record annual profit but warned higher living costs were pushing up debt arrears and competition was squeezing margins. "Consensus NIM expectations might need to moderate down, but the current run rate in earnings would suggest NAB is on track to deliver on fourth quarter FY23 cash earnings expectations," analysts from UBS wrote. It posted cash earnings of A$1.90 billion, compared with A$1.80 billion a year earlier and beating a Visible Alpha consensus of A$1.83 billion.

Persons: Daniel Munoz, NIM, Ross McEwan, Upasana Singh, Archishma Iyer, Shilpi Majumdar, Shinjini, Sohini Organizations: National, REUTERS, National Australia Bank, Commonwealth Bank of Australia, NAB, UBS, Thomson Locations: Sydney, Australia, 3Q23, Bengaluru

☆ Australia retail sales extend losing stretch to a third quarter
▼ + stars: | 2023-08-03 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photoSYDNEY, Aug 3 (Reuters) - Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5% in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. "The widespread fall in sales volumes reflects what retailers have been telling us about consumers focusing on essentials, buying less or switching to cheaper brands," said Ben Dorber, ABS head of retail statistics. Since sales account for around 17% of gross domestic product, the drop will weigh on economic activity and analysts expect barely any growth in the quarter. Thursday's data showed retail prices rose 0.9% in the second quarter, up from 0.7% the previous quarter.

Persons: Daniel Munoz, Ben Dorber, Alan Oster, Oster, Wayne Cole, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Australian Bureau, Statistics, Reserve Bank of Australia, NAB, Thomson Locations: Sydney's, Australia

CNN —When four young indigenous children were found last week after 40 days in the Colombian Amazon jungle, their rescuers noticed that the oldest, 13-year-old Lesly Jacobombaire Mucutuy, had something hidden between her teeth. Muñoz told CNN the seeds were from a native Amazon palm tree called Oenocarpus Bataua, colloquially known as “milpesos” in Colombia. The accomplishment feels like a moment of pride for the indigenous community of the Colombian Amazon. One of the traditional tasks of indigenous women is to look after one’s siblings as if they were your own children. Traditional elders like Guerrero attempted to bridge a spiritual link with the children using traditional plants like tobacco, coca, and yagé, the sacred, hallucinogen plant also known as ayahuasca.

Persons: ”, Eliecer Muñoz, Muñoz, Eliecer Munoz, Daniel Munoz, ” Muñoz, “, –, Henry Guerrero, Lesly, Fidencio Valencia, milpesos, ” Guerrero, Ranoque Mucutuy, Nelly Kuiru, Kuiru, Manuel Ranoque, San Jose del Guaviare, Guerrero, Magdalena Mucutuy, Leslie, There’s, ” Kuiru, Ranoque, Magdalena Organizations: CNN, AFP, Getty, Army, Cessna, Colombian Military Forces, Reuters, Colombian Amazon, Colombian, Blackhawk, Colombian Amazon Institute of Scientific Research Locations: Colombian, ”, Colombia, Bogota, Caqueta, La, San Jose, Araracuara, Amazonas

☆ Australian regulator says banks paid $3.10 bln in compensation for wrongly charged fees
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

[1/3] Australian dollars are seen in an illustration photo February 8, 2018. REUTERS/Daniel MunozMarch 10 (Reuters) - Australia's corporate watchdog said the country's six largest banking services providers have paid or offered A$4.7 billion ($3.10 billion) in compensation to customers who suffered losses for fees charged for services that were not provided. The largest business lender in Australia, NAB, took the lead and coughed up A$1.49 billion in compensation as of the end of 2022, followed by CBA and Westpac coughing up a payout of A$1.13 billion and $1.03 billion, respectively. ASIC said its final update on remediation figures "draws a line" under its eight-year long programme of addressing financial institutions' failure to provide ongoing services to fee-paying customers. ($1 = 1.5177 Australian dollars)Reporting by Riya Sharma in Bengaluru; Editing by Krishna Chandra Eluri and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Column: Europe's gas price plunge churns up global coal markets
▼ + stars: | 2023-01-18 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

However, thanks to a recent plunge in European natural gas prices - down 60% since December 1 on mild winter temperatures, filled storage tanks and diminished industrial use - European coal prices and demand have slumped so far in 2023. WIDE SPREADThe divergent tones of Europe's and Asia's coal markets are captured by the record-wide price spread between them. This week, that spread surpassed $200 a tonne as Asia-focused Newcastle coal prices held firm around $370 a tonne while European coal prices slumped to $165. Over the near term, such actions will likely narrow the arbitrage window by applying pressure to Asia's coal prices. Those high stocks have in turn been a major driver behind the gas price falls seen since December.

Search resuls for: "Daniel Munoz"

25 mentions found