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☆ Stocks slide, safety shines as bank fears spread
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

Switzerland's central bank pledged to fund Credit Suisse "if necessary," which lifted Wall Street indexes from lows in afternoon trade, but the intervention isn't exactly soothing market fears. In a joint statement, the Swiss financial regulator and the nation's central bank said Credit Suisse "meets the capital and liquidity requirements imposed on systemically important banks." They said the bank could access liquidity from the central bank if needed. The moves follow the collapse of U.S. lenders Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) in recent days which have sent financial markets on a roller-coaster ride. Shares in big U.S. banks including JPMorgan Chase (JPM.N), Citigroup (C.N) and Bank of America (BAC.N) fell overnight, pushing the S&P 500 banking index (.SPXBK) down 3.62%.

☆ Australia's biggest pension funds not doing enough on climate, activist investor says
▼ + stars: | 2023-03-15 | by ( Industry Insight | Reuters Professional | Food Brands Struggling To Weather The 'Polycrisis' Unleashed War | ) www.reuters.com time to read: +1 min

SYDNEY, March 15 (Reuters) - Australia's five largest pension funds were not doing enough to push fossil fuel companies toward decarbonisation, activist investor group Market Forces said on Wednesday, arguing their environmental commitments could amount to greenwashing. The term 'greenwashing' describes exaggerated and misleading claims that suggest an entity are stewards of the environment without real action. Market Forces said in a new report AustralianSuper, Commonwealth Super Corp, Australian Retirement Trust, Aware Super and AMP, which cumulatively manage more than A$1 trillion ($668 billion) in savings, had failed to "demonstrate effective engagement strategies". Commonwealth Super Corp, Australian Retirement Trust, Aware Super and AMP did not immediately respond to a Reuters request seeking comment. Australia's corporate regulator has ramped up action against greenwashing, last month accusing pension fund Mercer Superannuation of misleading members about the sustainability of some of its investment options.

NEW DELHI/SYDNEY, March 8 (Reuters) - Australia’s Prime Minister Anthony Albanese arrives in India on Wednesday seeking to strengthen the new momentum in ties between the two countries through deeper trade, investment and defence relations. Quad includes the United States and India besides Australia and Japan. Australia is due to host a Quad leaders summit in Sydney later this year. “India and Australia share warm and friendly relations based on common values and democratic principles. Australian Minister for Trade and Tourism Don Farrell is a part of Albanese’s delegation and the visit is expected to provide an opportunity to hasten the ambitious deal.

Bans on TikTok on government-issued devices in the U.S., the European Union and Canada are prompting lawmakers in some of Washington’s main intelligence-sharing allies to demand that their countries follow suit. Australia and New Zealand haven’t banned TikTok across all government agencies, instead leaving it to individual departments to decide whether their employees can install the app. Australian government departments—including defense—prohibit the installation of TikTok, owned by Beijing-based ByteDance Ltd., but some lawmakers say the lack of a blanket ban creates unnecessary national security risks.

☆ Australia c.bank signals more tightening ahead after lifting rates to decade-high
▼ + stars: | 2023-02-07 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Three-year government bond yields jumped 15 bps to 3.254% while ten-year yields also surged 15 bps to 3.615%. HIGH INFLATION 'VERY COSTLY'Inflation is expected to decline to 4.75% this year and only slow to around 3% by mid-2025, according to the RBA's latest forecasts. There are signs that consumers are finally pulling back on spending as cost of living surges and rate increases bite. "High inflation makes life difficult for people and damages the functioning of the economy. And if high inflation were to become entrenched in people's expectations, it would be very costly to reduce later," warned Lowe as he signalled the bank's intention to extend the tightening cycle.

☆ Australia’s central bank signals more tightening ahead after hiking rates to decade high
▼ + stars: | 2023-02-07 | by ( ) edition.cnn.com time to read: +3 min

Markets were surprised by the hawkish tone of the RBA which shattered any expectations of an imminent pause to the tightening campaign. Three-year government bond yields jumped 15 bps to 3.254% while ten-year yields also surged 15 bps to 3.615%. There are signs that consumers are finally pulling back on spending as the cost of living surges and rate increases bite. “High inflation makes life difficult for people and damages the functioning of the economy. And if high inflation were to become entrenched in people’s expectations, it would be very costly to reduce later,” warned Lowe as he signaled the bank’s intention to extend the tightening cycle.

SYDNEY, Feb 2 (Reuters) - Australia will replace the portrait of Queen Elizabeth II on its A$5 banknote with a new design to reflect and honour the history of its Indigenous culture, the country's central bank said on Thursday. The decision follows consultation with the federal government, which supports the change, the Reserve Bank of Australia said in a statement. The Reserve Bank said it would consult with Indigenous groups in designing the A$5 banknote. The A$5 banknote is the only Australian banknote to carry the image of the Queen. Australian coins are mandated to carry the image of the British monarch and new coins will have the effigy of King Charles.

☆ Dollar drops vs yen, near 9-month low to euro on central bank bets
▼ + stars: | 2023-01-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The dollar also sagged close to a nine-month low versus the euro, amid market expectations the European Central Bank next week will implement a rate hike twice as big as the Federal Reserve's. However, that was still well away from the 7-1/2-month trough of 127.215 reached last week as expectation built then for the central bank to tweak policy. When BOJ officials voted unanimously on Jan. 18 to keep stimulus settings unchanged, the currency pair bounced as high as 131.58. "If there are any bouts of yen weakness, I think the topside will continue to be capped by those expectations," Kadota said. For the week, the dollar is about flat against the yen, after swinging between gains and losses.

☆ European shares slide, euro steady as data tees up ECB rate hikes
▼ + stars: | 2023-01-24 | by ( Alun John | ) www.reuters.com time to read: +4 min

S&P Global's flash Composite Purchasing Managers' Index (PMI) climbed to 50.2 this month from 49.3 in December, the first time it has been above the 50 mark since June. Britain's flash Composite Purchasing Managers' Index (PMI), however, dropped to 47.8 in January from 49.0 in December, the lowest since January 2021. U.S. PMI data is due later in the day. The European common currency was steady at $1.0865, just off its nine-month high of $1.0927 hit a day before. Sterling turned negative after the British data and lost 0.5% to $1.231, retreating from Monday's seven-month high.

☆ China boosts coal output, eases Australia ban to bolster energy security
▼ + stars: | 2023-01-09 | by ( Muyu Xu | ) www.reuters.com time to read: +4 min

SINGAPORE, Jan 9 (Reuters) - The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output. "Many miners would welcome the opportunity to renew their commercial relationships in China for both metallurgical coal and thermal coal." read moreAmong them, China Energy Investment Corp has placed an order to import Australian coal which could load later this month. read moreMarket participants expect more firms to be granted permission to buy Australian coal in the coming months. HIGHER QUALITYChina purchased more than 30 million tonnes of coking coal and nearly 50 million tonnes of thermal coal from Australia before buying stopped.

☆ StanChart suitors track banking’s flighty fortunes
▼ + stars: | 2023-01-06 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

But one reliable rule of thumb is that Standard Chartered (STAN.L) will be the subject of periodic bouts of takeover speculation. The latest prospective suitor, First Abu Dhabi Bank (FAB.AD), reflects the shifting fortunes of global banking. Under UK rules, First Abu Dhabi cannot make an offer for StanChart for six months, unless another bidder emerges. The Abu Dhabi lender said it had been in “the very early stages of evaluating a possible offer” for the emerging markets-focused bank. Standard Chartered declined to comment.

☆ Australia says no change to rules regarding travellers from China
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Dec 29 (Reuters) - Australia is making no change to its rules around allowing travellers from China into the country, despite measures by some countries to require mandatory COVID-19 tests, Australian Prime Minister Anthony Albanese said on Thursday. [nL8N33I04R]Australia and China recently resumed diplomatic dialogue after relations between the countries hit a low point following criticism by Australia of China's handling of COVID-19. In 2020, China imposed trade sanctions on several major Australian exports. This month, Australian Foreign Minister Penny Wong became the country's first government minister to visit China since 2019. Australian Trade Minister Don Farrell plans to visit China in early 2023, Australian media reported on Thursday.

☆ Factbox: COP27: Counting the rising cost of climate disasters
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +4 min

How to get money to poorer countries after climate disasters has been a dominant theme at the COP27 climate talks in Egypt, and insurance is seen as one way to do that. On Monday, a G7-led plan dubbed "Global Shield" to provide pre-arranged insurance and disaster protection funding to countries suffering climate disasters was launched at the climate conference. Worst fires: Tubbs Fire Oct 2017, Camp Fire Nov 20182017 loss: $180 billion2017 deaths: 402018 loss: $148.5 billion2018 deaths: 103Total loss: $328.5 billion2. Harvey loss: $125 billionHarvey deaths: 88Irma loss: $65 billionIrma deaths: 134Maria loss: $107 billionMaria deaths: 4,600Total loss: $297 billion3. Hurricane Ian, Florida, Sept 2022The hurricane hit southwestern Florida and South Carolina, with a 4-metre high storm surge on the west coast of Florida.

☆ North Korea fired off more missiles than it ever has in a single day, triggering an air raid alert in South Korea for the first time in years
▼ + stars: | 2022-11-02 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

North Korea launched at least 23 missiles on Wednesday, the most it's ever fired in a single day. According to multiple reports, South Korea issued an air raid alert for the first time in years. The missiles — all short-range ballistic missiles or surface-to-air missiles — were fired from North Korea's eastern and western coasts, according to the South's Yonhap News Agency. Additionally, Seoul's military noted that the North fired over 100 artillery shells into the ocean. North Korea, however, has long bristled at these types of exercises, characterizing them as preparations for an invasion.

☆ Factbox: Energy crisis revives coal demand and production
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +6 min

France - The Emile Huchet coal power plant restarted in early October, only six months after it closed, according to local media. Netherlands - Dutch energy minister Rob Jetten said in June the Netherlands will remove a production cap at coal-fired energy plants to preserve gas. In June, it said it plans to "increase thermal coal production from existing mines this year maximum by 1.5 million tonnes". Spain - The ministry for the ecological transition requested in May the delay of Endesa's As Pontes coal power station closure. (** Note that Ukraine's government has stopped releasing coal production data since the start of the war).

☆ Australia PM tours flood-hit Victoria state; evacuations, sandbagging underway
▼ + stars: | 2022-10-16 | by ( ) www.cnbc.com time to read: +3 min

Australian Prime Minister Anthony Albanese speaks to media on June 5, 2022. Australian Prime Minister Anthony Albanese was in Indonesia on Monday to meet its President Joko Widodo and shore-up relations between the two neighbors, in his first bilateral visit since being elected last month. Australian Prime Minister Anthony Albanese on Sunday toured flood-hit parts of Victoria state, including the city of Melbourne, as three southeastern states continued to grapple with a flood crisis after days of heavy rain. Earlier, the prime minister flew over flood-affected areas of regional Victoria with the state's premier, Daniel Andrews. Victoria State Emergency Service chief operations officer Tim Wiebusch said the state was experiencing "blue sky flooding", with heavy rains having passed.

☆ Australia's house prices fall, interest rates soar but analysts say there's no crash yet
▼ + stars: | 2022-09-29 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +10 min

Mortgage rates have fallen to below 2% in recent years, but interest rates are rising rapidly in Australia. Home prices fallNational house prices have fallen for a fourth straight month as demand for homes start to slide due to higher costs of borrowing, according to Corelogic. In Sydney, Australia's biggest city, home prices have fallen over 7% since prices started unwinding at the start of the year, just before interest rates lifted. Since hitting peak prices earlier this year, house prices in Melbourne have fallen nearly 5%. Since hitting peak prices earlier this year, house prices in Melbourne have fallen nearly 5%.

☆ Australia flags privacy overhaul after huge cyber attack on Optus
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

Australian Prime Minister Anthony Albanese speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Register now for FREE unlimited access to Reuters.com RegisterAlbanese called the incident "a huge wake-up call" for the corporate sector, saying there were some state actors and criminal groups who wanted to access people's data. Optus said it would offer the most affected customers free credit monitoring and identity protection with credit agency Equifax Inc (EFX.N) for a year. The telco has now alerted all customers whose driving licences or passport numbers were stolen, it said in an emailed statement. ($1=A$1.5309)Register now for FREE unlimited access to Reuters.com RegisterReporting by Lewis Jackson, Renju Jose and Byron Kaye; Editing by Stephen Coates, Clarence Fernandez and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ The world's largest trade deal could be signed in 2020 — and the US isn't in it
▼ + stars: | 2019-11-12 | by ( Yen Nee Lee | ) www.cnbc.com time to read: +5 min

Manan Vatsyayana | AFP | Getty ImagesAfter more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world's largest trade agreement in 2020. All 16 countries started negotiating RCEP in 2013, when talks for another major trade pact — the Trans-Pacific Partnership or TPP — were underway. Given China's absence in the then U.S.-led TPP, which was slated to be the world's largest trade deal, many observers considered RCEP a way for Beijing to counter American influence in the region. The final text with details of the trade agreement will go through legal reviews before being signed and released. Deborah Elms, executive director at consultancy Asian Trade Centre, told Reuters that would help Asian producers to sell more of their products to the rest of the region.

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