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☆ Australia PM rallies support for Indigenous referendum as early voting starts
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

BAGUS INDAHONO/Pool via REUTERS/File Photo Acquire Licensing RightsSYDNEY, Oct 2 (Reuters) - Australian Prime Minister Anthony Albanese said on Monday he would focus on having one-on-one conversations with Australians to rally support for the Indigenous referendum, as early voting began in some parts of the country. In a landmark referendum, Australians will decide on Oct. 14 whether to approve altering the constitution to enshrine an Indigenous advisory body called the "Voice to Parliament" that can give advice on matters that affect Aboriginal and Torres Strait Islander people. The proposal, backed by Albanese's Labor government, has been struggling to get majority support with recent opinion polls showing voters will reject it. In a bid to mobilise support, Albanese said if Australians are focused on what the question is from the referendum amid the distractions, they will vote yes, and there is nothing to fear from this campaign. Early voting on the referendum in New South Wales and Australian Capital Territory will begin on Tuesday.

Persons: Anthony Albanese, Joko Widodo, BAGUS, Albanese, Stella Qiu, Lincoln Organizations: Australia's, 43rd Association of Southeast Asian Nations, ASEAN, Rights, Australian, Torres Strait, Albanese's Labor, Aboriginal, Australian Capital, Thomson Locations: Jakarta, Indonesia, Melbourne, New South Wales, Australian Capital Territory

☆ Australia Aug retail sales post tepid rise, add to rate pause case
▼ + stars: | 2023-09-28 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, Sept 28 (Reuters) - Australian retail sales rose modestly in August as consumers continued to cut back on spending in the face of elevated living expenses and high borrowing costs, signalling interest rates may not have to rise further. Data from the Australian Bureau of Statistics (ABS) on Thursday showed nominal retail sales rose 0.2% in August from July, missing analysts' forecast of a 0.3% gain. Sales of A$35.4 billion ($22.56 billion) were up just 1.5% from a year earlier, the lowest gain in percentage terms since August 2021. Data from Commonwealth Bank of Australia showed that younger Australians who are renting or have mortgages are cutting back on purchases, while older Australian who benefit from higher savings rates are still spending. ($1 = 1.5694 Australian dollars)Reporting by Stella Qiu; Editing by Tom Hogue and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Ben Dorber, Stella Qiu, Tom Hogue, Jamie Freed Organizations: Australian Bureau of Statistics, FIFA, Reserve Bank of Australia, Commonwealth Bank of Australia, Thomson

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. The 30-year bond was last up 11.8 basis points to yield 4.6397%, from 4.522%. The 2-year note was last was down 0.9 basis points to yield 5.1141%, from 5.123%. In currencies, the dollar index rose 0.455%, with the euro down 0.69% to $1.0578.Sterling was last trading at $1.22, down 0.31% on the day. In energy markets, oil prices edged lower in choppy trade on Monday as Russia relaxed its fuel ban, after earlier gains on a tighter supply outlook, while investors eyed elevated interest rates that could curb demand.

Persons: Brendan McDermid, Powell, Austan Goolsbee, Mona Mahajan, Edward Jones, Mahajan, Sterling, Kazuo Ueda, Brent, Sinéad Carew, Amanda Cooper, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Chicago Fed, Dow Jones, Nasdaq, Bank of Japan, Thomson Locations: New York City, U.S, Russia, New York, London

☆ Shares drop as 'higher-for-longer' rate outlook rattles investors
▼ + stars: | 2023-09-25 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 22, 2023. The MSCI All-World index (.MIWD00000PUS), which is heading for its worst monthly performance this year, with a 3.6% drop, was down 0.2% on the day. U.S. 10-year Treasury yields have nudged at 4.5% for the first time since October 2007, and on Monday were up 5 basis points at 4.491%, set for their largest monthly rise in a year, reflecting investor unease over the economic outlook. The dollar index got a boost from the rise in Treasury yields, rising 0.1% on the day. Brent crude futures rose 0.2% to $93.48 a barrel, while West Texas Intermediate rose 0.1% to $90.16.

Persons: Jerome Powell, Frederik Ducrozet, Ducrozet, Powell, Evergrande, Andrew Lilley, Kazuo Ueda, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich Our Organizations: REUTERS, Staff, Global, European Central Bank, Bank of England, Federal Reserve, Treasury, Pictet Wealth Management, Nasdaq, Barrenjoey, Bank of Japan, Brent, West Texas, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA

☆ Asian shares slip after brutal central bank week, yen in focus
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. S&P 500 futures , however, rose 0.3% while Nasdaq futures gained 0.4%, after Hollywood's writers union reached a preliminary labor agreement with major studios. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, edging back to a 10-month low plumbed just last week. U.S. central bank officials will be out in force this week, starting with Minneapolis Fed President Neel Kashkari on Monday. Brent crude futures rose 0.6% to $93.79 per barrel.

Persons: Issei Kato, Kazuo Ueda, HSI, Louis Kuijs, Neel Kashkari, Andrew Lilley, Stella Qiu, Himani Sarkar, Jacqueline Wong Organizations: REUTERS, Bank of Japan, Nasdaq, Japan's Nikkei, Hengda, Estate Group Co, U.S, Minneapolis, European Central Bank, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe SYDNEY, China, U.S, Europe, Asia, Pacific, firming, U.S . Federal

☆ Asian shares fall after brutal central bank week, yen under spotlight
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. The yen was jittery near the closely watched 150 per dollar level amid intervention fears, after the Bank of Japan made no change to its dovish monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.6%, edging closer to a ten-month low plumbed just last week. Bruce Kasman, chief economist at JPMorgan, expects good news from U.S. and European inflation results this week, which should show low core inflation readings. The yen last traded at 148.41 per dollar, after hitting a fresh 10-month low of 148.49 earlier in the day.

Persons: Issei Kato, Kazuo Ueda, Hong, HSI, Louis Kuijs, Andrew Lilley, Bruce Kasman, Stella Qiu, Sonali Paul, Himani Organizations: REUTERS, Rights, Bank of Japan, Japan's Nikkei, U.S, JPMorgan, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, U.S, Europe, Asia, Pacific, U.S . Federal

☆ Australia posts first budget surplus in 15 years as tax revenues soar
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Reed Acquire Licensing RightsSYDNEY, Sept 21 (Reuters) - Australia on Friday recorded a final budget surplus of A$22.1 billion ($14.2 billion) for the year to June 2023, five times earlier estimates, as strong jobs growth and bumper mining profits helped the country post the first surplus in 15 years. In its May budget, the Labor government had projected a surplus of A$4.2 billion, a huge turnaround from the pandemic-driven deficits of the two previous years. However, the budget is projected to return to deficit this year amid intensifying spending pressures on healthcare, energy and defence. By banking revenue upgrades, the government lowered gross debt by A$87.2 billion and will avoid around A$12 billion in interest payments over the five years to 2026-27. Chalmers said in July the budget surplus was likely to be a little over A$20 billion for the past financial year.

Persons: Jason Reed, Jim Chalmers, Chalmers, Stella Qiu, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Treasury, Labor, ABC News, Thomson Locations: Australia's, Australia

☆ Cerebral Valley, the AI conference that spawned a $1.3 billion deal, is coming back to San Francisco this year
▼ + stars: | 2023-09-19 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Cerebral Valley, an AI conference run by Eric Newcomer's eponymous publication, just announced its second gathering of 2023. CVAI2 (Cerebral Valley AI Summit version 2.0) will take place on November 15 at the SFJAZZ Center in Hayes Valley, San Francisco. The neighborhood is nicknamed Cerebral Valley these days, due to the plethora of AI startups that have sprouted there. Ali Ghodsi, CEO of Databricks, and Naveen Rao, CEO of MosaicML, met for the first time at the initial Cerebral Valley AI Summit. That's the biggest generative AI startup deal so far, by my counting.

Persons: Vinod Khosla, Reid Hoffman, Adam D'Angelo, Eric Newcomer's, Mustafa Suleyman, Ali Ghodsi, Kanjun Qiu, Chris Lattner, May Habib, Naveen Rao, Jason Warner, Max Child, James Wilsterman, Amjad Masad, Clem Delangue, Emad, Daniela Amodei, Cristobal Valenzuela, Shane Orlick, MosaicML, it's Organizations: SFJAZZ, Service, Industry Locations: Hayes Valley, San Francisco, Wall, Silicon, Jasper

The benchmark 10-year Treasury yield hit 4.399% overnight in Asia, its highest rate since early November 2007, and the two-year yield rose further above 5%. MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.27%, while the pan-European STOXX 600 index (.STOXX) lost 1.05%, hit by lowered growth outlooks. CENTRAL BANKSGlobal central banks take stage, with five of those overseeing the 10 most-heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks including Turkey and South Africa will also meet. The Swedish crown sank to a record low against the euro on Monday, days before the Riksbank is expected to raise interest rates again.

Persons: Brendan McDermid, BOE, Brent, Marc Chandler, Chandler, Saira Malik, France's, Stocks, Xi, Kazuo Ueda, Herbert Lash, Nell Mackenzie, Dhara, Stella Qiu, Philippa Fletcher, Alexander Smith, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, Global, Federal, United Auto Workers, Detroit Three, Bannockburn Global, U.S, Societe Generale, Dow Jones, Nasdaq, China Evergrande, HK, CENTRAL, Bank of England, Bank of Japan, European Central Bank, Thomson Locations: New York City, U.S, China, Bannockburn, New York, Asia, Turkey, South Africa, Swedish, London, Sydney

China property woes, geopolitical tensions and ongoing strikes also stoked worries about global growth. CENTRAL BANKSGlobal central banks take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks such as Turkey and South Africa will also meet. In currency markets, the dollar drifted lower with the dollar index last down a touch at 105.24 but within sight of recent six-month highs. The euro gained about 0.1% to $1.0663, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, France's, Taiwan's TSMC, Xi, James Rossiter, Rossiter, Marc Chandler, Goldman Sachs, Kazuo Ueda, Nell Mackenzie, Stella Qiu, Dhara, Philippa Fletcher, Alexander Smith Organizations: REUTERS, Staff, Societe Generale, China Evergrande, HK, Technology, Reuters, TD Securities, Japan's Nikkei, Brent, . West Texas, Federal Reserve, Bannockburn Global, CENTRAL, Global, Fed, Bank of England, Bank of Japan, Treasury, European Central Bank, Thomson Locations: Frankfurt, Germany, China, United States, Japan, Scandinavia, Switzerland, Britain, Asia, U.S, London, Bannockburn, Turkey, South Africa, Europe, SYDNEY

☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Bullock takes over at Australia central bank with soft landing in sight
▼ + stars: | 2023-09-17 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

[1/3] Incoming RBA Governor Michele Bullock delivers the Sir Leslie Melville Public Lecture at the Australian National University in Canberra, Australia, August 29, 2023 in this handout image. The Reserve Bank of Australia (RBA) has been on hold for three months after raising interest rates aggressively for more than a year. The tightening has slowed Australia's growth, but analysts think the economy could still achieve a soft landing. If Australia avoids recession and delivers a soft landing, history may judge outgoing Governor Philip Lowe more kindly. In the search to replace Bullock as deputy, Chalmers has indicated the government is looking at candidates inside and outside the central bank.

Persons: Michele Bullock, Leslie Melville, Tracey Nearmy, Bullock, it's, Cherelle Murphy, Philip Lowe, Lowe, Jim Chalmers, Chalmers, Stephen Halmarick, Stella Qiu, William Mallard Organizations: Australian National University, ANU, REUTERS, Rights, Reserve Bank of Australia, EY Oceania, Commonwealth Bank of Australia, Thomson Locations: Canberra, Australia, Handout, New Zealand, Germany, Europe's, COVID

☆ Australian jobs surge as productivity debate heats up
▼ + stars: | 2023-09-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

"Headline indicators report a very strong employment report, but the bias towards predominantly part-time employment should temper exuberance," said Dwyfor Evans, head of APAC macro strategy at State Street Global Markets. Markets maintained bets that the Reserve Bank of Australia (RBA) would keep rates steady next month, with an about 40% chance of one final hike early next year. WAGES, PRODUCTIVITYThe strong figures showed Australia's jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its COVID-era border restrictions. loadingTreasurer Jim Chalmers on Thursday welcomed the strong jobs report, but warned that the labour market could slow from here, a consensus view among economists. Adam Boyton, head of Australian research at ANZ, is already seeing signs of slackening in the labour market, with underemployment rate creeping up and hours worked falling.

Persons: Barista Claudio Chimisso, Loren Elliott, Dwyfor Evans, Tim Gurner, Alexandria Ocasio, Cortez, Jim Chalmers, Chalmers, Adam Boyton, Boyton, Stella Qiu, Kim Coghill, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Street Global, Reserve Bank, Australian, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia, China

European stocks (.STOXX) fell as much as 0.5% in early trading, with rate-sensitive tech stocks (.SX8P) losing 0.8%. And the latest spike in oil prices to 10-month highs is unlikely to escape the Fed's attention. Fuelling worries over persistent inflation were oil prices, which firmed after hitting a 10-month peak a day earlier. ECB HIKE BETSThe euro was down 0.1% at $1.074, after nearing one-week highs on the Reuters story which was published late on Tuesday. "The leak raises the possibility of a hawkish hike which would be much more supportive for the EUR," said Steve Englander, global head of G10 FX research at Standard Chartered, referring to the Reuters report.

Persons: Androniki, Robert Alster, you'll, Steve Englander, Tom Wilson, Stella Qiu, Shri Navaratnam, Christina Fincher Organizations: Nikkei, REUTERS, Consumer, Index, Federal Reserve, Management, European Central Bank, Reuters, ECB, Nasdaq, Brent, U.S, West Texas, Markets, Standard Chartered, Thomson Locations: Tokyo, Japan, SYDNEY, Asia, Pacific, London, Sydney

☆ Asian shares slip, oil hold gains ahead of US inflation test
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both S&P 500 futures and Nasdaq futures were mostly unchanged. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.3% while Tokyo's Nikkei (.N225) eased 0.1%. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation elevated at 3.6%. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. On Wall Street, the S&P 500 fell 0.6% overnight, the Nasdaq declined 1% while Dow Jones was mostly flat.

Persons: Androniki, Ray Attrill, Dow Jones, Steve Englander, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, European Central Bank, Reuters, ECB, Nasdaq, Tokyo's Nikkei, Consumer, Index, Federal, Fed, National Australia Bank, Brent, U.S, West Texas, Standard Chartered, Thomson Locations: Tokyo, Japan, Europe, Asia, Pacific

☆ Markets await U.S. inflation test, surging oil add to price jitters
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat while Tokyo's Nikkei (.N225) eased 0.2%. Australia's resource-heavy shares (.AXJO) lost 0.7%, Chinese blue-chips (.CSI300) were flat but Hong Kong's Hang Seng index (.HSI) moved 0.6% higher. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation hot. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. Oil prices extended gains on Wednesday.

Persons: Androniki, HSI, Ray Attrill, Dow Jones, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, Reuters, European Central Bank, Consumer, Index, Federal, Fed, National Australia Bank, Brent, . West Texas, Nasdaq, ECB, U.S, Thomson Locations: Tokyo, Japan, Asia, Pacific

☆ Australian economy grows modestly in Q2, eases recession fears
▼ + stars: | 2023-09-06 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) rose 0.4% in the second quarter, slightly beating forecasts of 0.3%. The world's 12th largest economy got a boost from net exports, with the return of students and tourists, and public investment. "For all its challenges, the Aussie economy remains remarkably resilient," said Harry Murphy Cruise, an economist at Moody's Analytics. Government consumption will also moderate from its elevated levels, and business investment will ease on the back of squeezed profits." Household consumption, which used to be the engine of growth, remained subdued with just a 0.1% gain in the quarter due to spending on essential goods and services.

Persons: Harry Murphy Cruise, Jim Chalmers, Chalmers, Sean Langcake, Stella Qiu, Jacqueline Wong, Lincoln Organizations: SYDNEY, Australian Bureau, Statistics, Moody's, Consumers, Reserve Bank of Australia, BIS Oxford, Thomson Locations: China

☆ Australia Aug ANZ-Indeed jobs ads jump most in over an year
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney, Australia, October 25, 2017. Picture taken October 25, 2017. Data from Australia and New Zealand Banking Group (ANZ.AX) and employment website Indeed showed job ads rose 1.9% in August from July, the biggest increase since June 2022. Ads were, however, down 7.7% year-on-year earlier, but remained 52.2% above pre-pandemic levels. Reporting by Stella Qiu; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Steven Saphore, Stella Qiu, Kim Coghill Organizations: New Zealand Banking Group, ANZ, REUTERS, Rights, New Zealand Banking, Thomson Locations: Australia, Sydney

☆ Build up not out: the high density housing push for Australian cities
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

Mahendran has joined the Sydney YIMBY (Yes In My Backyard) group, a fledgling grassroots movement seeking higher density housing in opposition to those branded NIMBYs (Not In My Backyard) that fight new and large developments, particularly in gentrified inner-city areas. For a continent as large and sparsely populated as Australia, it is almost counter-intuitive there could be a housing shortage. While the YIMBY movement is in its infancy in Australia, it marks a shift in community attitudes towards development as affordability worsens and a push for shorter commutes and better facilities become features of post-pandemic urban living. "The future is up by way of density," said Liz Allen, a researcher at Australian National University in Canberra. Greater Canberra, the YIMBY group in Canberra, has received support from both Labor and Greens for its push to lift density across the Australian Central Territory.

Persons: Stella Qiu, Mahendran, Sydney YIMBY, Liz Allen, Justin Simon, they've, Simon, Philip Lowe, Lowe, Anthony Albanese, Albanese, Simon Welsh, Lincoln Organizations: REUTERS, Rights, Sydney, New South, New South Wales Productivity, Australian National University, Reuters, Labor, Greens, Australian Central Territory ., Senate, Redbridge, Thomson Locations: Parramatta, Sydney, today's Australia, Australia, New South Wales, Canberra, Greater Canberra, May, Victoria

☆ Asian shares set for worst month since Feb on China gloom
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Data on Thursday showed China's manufacturing activity contracted for a fifth straight month in August, and the expansion in services sector lost a little momentum. Chinese blue-chips (.CSI300) were flat but a 2.5% rebound in property stocks boosted Hong Kong's Hang Seng Index, which rose 0.7%. Barring the China gloom, investor confidence jumped in August, with a global confidence index (ICI) from State Street Global Markets surging 11.4 points to 107.7, led by North America which recorded the strongest reading in a year on easing recession fears. Brent crude futures were little changed at $85.88 per barrel and U.S. West Texas Intermediate crude futures were up 0.1% at $81.74.

Persons: Marvin Loh, payrolls, Stella Qiu, Shri Navaratnam Organizations: U.S, PCE, Japan's Nikkei, ICI, Street Global, North, Global ICI, State Street Global, Federal, European Central Bank, Brent, . West Texas, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, North America, Europe, Germany, Spain

☆ Australia retail sales rebound after fall, annual rate slows further
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

Holiday shoppers stand in line inside a mall in the city centre of Sydney, Australia, December 17, 2020. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Aug 28 (Reuters) - Australian retail sales rebounded in July after a sharp fall the previous month, but the annual rate slowed further, a result that should not upset the outlook for interest rates as high borrowing costs work to slow consumer spending. Data from the Australian Bureau of Statistics (ABS) on Monday showed nominal retail sales rose 0.5% in July from June. Ben Dorber, ABS head of retail statistics, said the rebound was boosted by additional spending at catering and takeaway food outlets linked to the 2023 FIFA Women’s World Cup and school holidays. The rate hikes have added hundreds of dollars to average monthly mortgage repayments, weighing on consumer spending, which had been resilient at first thanks in part to savings amassed during the pandemic.

Persons: Loren Elliott, Ben Dorber, Stella Qiu, Jacqueline Wong Organizations: REUTERS, Rights, Australian Bureau of Statistics, Analysts, FIFA, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia

☆ Fact-Checking Vivek Ramaswamy on the Campaign Trail
▼ + stars: | 2023-08-26 | by ( Linda Qiu | More About Linda Qiu | ) www.nytimes.com time to read: +2 min

First, Mr. Manuel is not an “Obama appointee” but rather participated in a leadership development program run by the Obama Foundation in 2019. Noting high winds and drought, the company requested permission to fill a private reservoir for fire control, though the reservoir was not connected to fire hydrants. The water agency asked the company whether the fire department had made the request, received no answer and said that it needed the approval of a farmer who relied on the water for his crops. The company said that it could not reach the farmer, but that the agency approved the request hours later. The executive, in another letter, also wrote that “we would never imply responsibility” on Mr. Manuel’s part.

Persons: Manuel, Obama, ”, Ramaswamy, Ramaswamy’s Organizations: Obama Foundation, Mr, Maui Land Company, The New York Times Locations: Hawaii, Lahaina, Maui, The

☆ Australia closes dual-study visa loophole for foreign students
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Students walk past stalls during the orientation week at The University of Sydney, in Camperdown, Australia February 15, 2023. International students can undertake additional courses along with their core studies called the "concurrent study" rule, which is designed to help prepare them for the job market through short courses. But the government said recent investigations have identified that many were misusing this rule to ditch their university courses and permanently switch to cheaper courses. The government will also increase the amount of savings international students will need in order to get a student visa. From Oct. 1, foreign students will need to show evidence of A$24,505 ($15,693) in savings, up 17% increase on current levels, to take into account higher living expenses.

Persons: Stella Qiu, Jason Clare, Clare, Renju Jose, Michael Perry Organizations: The University of Sydney, REUTERS, Rights, Thomson Locations: Camperdown, Australia, Sydney

☆ Asian shares sit tight ahead of Nvidia results, yields near highs
▼ + stars: | 2023-08-23 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

S&P 500 futures climbed 0.3% while Nasdaq futures rose 0.4%. Its blockbuster report last quarter fueled a rally in tech stocks and artificial intelligence hopes, propelling the S&P 500 this year. Shares of Nvidia hit an all-time high of $481.87 overnight, with options data showing traders are expecting a larger-than-usual swing in shares after the quarterly results. The Dow Jones (.DJI) fell 0.5%, the S&P 500 (.SPX) lost 0.3% and the Nasdaq Composite (.IXIC) added 0.1%. Financial shares underperformed, with the S&P 500 banks (.SPXBK) sliding 2.4%, after S&P joined Moody's to downgrade multiple regional U.S. lenders.

Persons: Issei Kato, Powell's Jackson, Nvidia NVDA.O, Stuart Humphrey, Humphrey, Dow Jones, Moody's, Treasuries, Thomas Barkin, Jerome Powell, Sam Holmes Organizations: REUTERS, Markets, Nvidia, SYDNEY, Nasdaq, Japan's Nikkei, JPMorgan, Financial, Richmond Fed, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, United States, U.S, China, Jackson Hole , Wyoming

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