Australia Financial News

Investing.com-- The Reserve Bank of Australia said on Friday that the government had named Michele Bullock as its next governor, making her the bank’s first female leader after incumbent governor Philip Lowe’s term ends in September.

By Wayne Cole

By Wayne Cole

A decision by Grok Ventures, the private investment vehicle operated by Atlassian billionaire Mike Cannon-Brookes, to stop investing in listed equities has set loose a chunky block trade at Tyro Payments.

jobless benefits dropped 12,000 to a seasonally adjusted 237,000 for the week ended July 8, but overall the labor market remains tight. The 10-year treasury yield fell to 3.76% from 3.86% late Wednesday. The 2-year treasury yield fell to 4.63% from 4.75%.

Narendra Modi announced that Indian students who are pursuing their Masters in France will now be given a five-year post study work visa. Earlier, Indian students were given two-year work visa.

The cost of living has surged ahead as Australians’ top worry and, although they still want the federal government to take action on climate change, worries about power prices and energy reliability are on the rise, according to a new report.

R Ashwin to new heights but by his own admission, it has also been «incredibly draining». Ashwin, the world's number one Test bowler, put the disappointment of being dropped from the World Test Championship final with a 33rd five-wicket haul in the first Test against the West Indies here on Wednesday. The 36-year-old also became the third Indian to reach the 700-wicket milestone in international cricket and is only behind Harbhajan Singh (707 wickets) and Anil Kumble (953) in the all-time list. After the close of play on day one, the wily off-spinner, who also thinks deeply about the game, was asked about his long journey in international cricket and the ups and downs along the way, including the recent exclusion from the WTC final against Australia. «There is no cricketer or human being in this world that has gone through the highs without the lows. When you have the lows, it gives you two choices, either you sulk or talk about it and then complain about it and go along with it and go down. Or you learn from it. So I'm someone who's constantly learnt from my lows.

Australia and Brazil are set to experiment with growing arhar (pigeon peas) for consumers in India, where demand for the popular yellow lentil--the main ingredient of 'dal tadka' and 'sambhar'--has been outpacing domestic production for some years now. At a recent meeting between Australian Agriculture Minister Murray Watt, top officials of India's food ministry and representatives of the Indian Pulses and Grains Association (IPGA), it was decided that IPGA will facilitate pigeon pea farming in Queensland with the help of the Australian trade body Pulse Australia, according to officials.

Netflix is not just one of the world’s most popular streaming applications but also a powerful production house. The latest report reveals how the streaming giant’s original productions have increased worldwide. Currently, of all the content streaming on Netflix US, more than half consists of Netflix Originals. The figure is 55%, a year-on-year increase of 5%. These are all Netflix Originals – movies and series from around the world made by Netflix in the respective regions. Worldwide, too, over 3,500 Netflix Originals are running on the app in various countries.

PepsiCo Inc.’s second-quarter results handily topped Wall Street’s expectations and the food and beverage company raised its full-year forecasts

Morgan Stanley Wealth Management is shifting its focus to cater to Australia’s affluent individuals, while collaborating with wealth manager Ord Minnett to handle clients with lower net worth. According to the Australian Financial Review, customers possessing less than A$1 million in assets (US$683,000), will be given ‘the option’ to transfer their accounts to 472 employee Ord Minnett. The US firm claims this strategic move allows it prioritize high-net-worth accounts, not-for-profits, and family office funds.

Bitcoin missed out on a rally in global markets sparked by cooling US inflation, triggering some caution about the token’s outlook.

Morgan Stanley Wealth Management wants to focus on Australia’s wealthiest individuals, with stockbroker Ord Minnett to take on the bank’s less-wealthy clients.

Macquarie analysts are standing by their valuation of Patriot Battery Metals, the ASX-listed lithium play that has come under attack from an activist short seller in the United States.

Viva Energy’s earnings will be crunched by costs and production challenges linked to prolonged maintenance at its troubled flagship Geelong refinery.

Canadian infrastructure giant Brookfield Asset Management has locked in a $1.45 billion refinancing for its seniors living business Aveo, which it took private four years ago as a turnaround play.

Peter Nathan, the former a2 Milk Company executive at the centre of a bid to unseat Bubs Australia’s management, says the infant formula group’s board is distracted with “creating negative headlines and legal disputes”.

Commonwealth Bank chief executive Matt Comyn says younger people and renters are feeling the sharpest financial stress in Australia, as higher interest rates and inflation start to grind the economy to a near halt.

Boston Consulting Group and McKinsey look set to be compelled to face a Senate inquiry into conflicts of interest and poor behaviour by private sector consultants, as Labor and the Greens call the firms’ bluff on giving evidence to parliament.

Alliance Aviation says it is on track to report better than expected profits after the number of fliers rose in the six months to June 30, with $100 million in new funding from financiers in the United States as it expands.