Friday, February 22, 2019

"Don't jump to conclusions" - Reserve Bank governor warns on China coal ban

Reserve Bank governor Dr Philip Lowe warns against jumping to conclusions for reasons behind China's ban on Australian coal at its Dalian port. 

Dr Lowe suspects policies to improve the environment and to protect a slowing local coal industry could be factors behind the decision. 

Here's my report from The World Today

Thursday, February 21, 2019

Could Glencore coal decision be tipping point in climate debate?

In what could be a tipping point in the climate change debate, the mining giant Glencore says it will cap its investments in coal after pressure from major investors. 

ABC's Peter Ryan says shareholders are now more aware of long term risks associated with fossil fuel investments. 

Qantas profit weighed down by rising fuel costs but chief executive Alan Joyce says consumers remain bouyant despite economic headwinds

Qantas has seen its first half profit lose altitude down 16 percent to $498 million as it deals with higher fuel costs. 

But speaking with the ABC's Peter Ryan, chief executive Alan Joyce expects to make up the losses and doesn't see a cautious consumer despite economic stormclouds such as a housing correction. 

Wednesday, February 20, 2019

Wages flat, Woolies warns on "subdued consumer demand", NAB confirms Andrew Thorburn's million dollar exit

The latest quarterly wages update shows growth continues to flatline. 

The ABS says wages grew 0.5 percent in the quarter and 2.3 percent over the year. 

With household budgets tightening, Woolworths chief executive delives a $979 million half year profit while noting "subdued consumer demand" as consumers move from champagne to sparkling wine. 

Also the National Australia Bank confirmed exiting chief executive Andrew Thorburn will received a $1 million payout.

Here's my report on The World Today

Tuesday, February 19, 2019

IOOF push to restore trust after Royal Commission fallout; caution still running high as acting CEO cancels ABC interview

The embattled wealth manager IOOF has pledged to rebuild trust with regulators and consumers after its reputation was badly damaged during the financial services Royal Commission. 

The company - which was accused of not acting in the best interests of its superannuation clients - will spend as much as $30 million to ensure it meets additional licence conditions imposed by the banking regulator APRA. 

Acting chief executive Renato Mota backed out of an interview with ABC's Peter Ryan despite an earlier commitment.

Here's my report from The World Today.

Big car makers face demise as self driving Ubers soon in a street near you

Traditional car makers could find themselves out of business within the decade as autonomous electric cars become affordable to regular motorists. 

Brett Winton, director of research at the US investors Ark Invest, predicts autonomous taxis could be available in big cities by 2021. 

Mr Winton also believes traditional car insurers will be disrupted as the likes of Tesla and Google bypass the retail market. 

Brett Winton speaks with the ABC's Peter Ryan.