China factory activity increases slightly

Vinson

China’s factory activity has improved in March after plunging a month earlier, a private survey showed, but the bare minimal growth highlighted the intense pressure facing businesses as the global coronavirus pandemic shuts down many countries. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 last month, from February’s […]

Rex reverses Qld suspension decision

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Regional Express (Rex) has reversed a decision to suspend its Queensland operations following a “last-minute” intervention by the state government. The regional airliner will resume its services on April 1 on a reduced scheduled to be introduced on all five routes registered with the Department of Transport and Main Roads […]

Japanese business confidence worsens – 9Finance

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Confidence among large Japanese manufacturers fell sharply in March due to a tax hike and the novel coronavirus crisis, the Bank of Japan’s Tankan survey showed on Wednesday. The index for the quarterly survey slid to minus 8 from zero three months ago, falling into the negative for the first […]

RBA held recession fears before rate cut

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Reserve Bank board members decided it was likely Australia’s economy would shrink across the March and June quarters – and potentially even longer – when it cut the cash rate to a record low 0.25 per cent to fight the impact of the coronavirus. The word “recession” was not mentioned […]

Asian stocks under pressure – 9Finance

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Asian shares are facing another fall as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil prices to trade near lows last seen in 2002. Shares on Wall Street tumbled on Tuesday, with the […]

Traffic slows, toll prices will still rise

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Toll giant Transurban says contracted price increases will still apply in Sydney and Melbourne roads from Wednesday even as coronavirus lockdown measures put the brakes on traffic volume. Tolls for cars will increase by between 2.0 and 8.0 cents a trip on some of Sydney’s toll roads and trips on […]

Kathmandu announces capital-raising – 9Finance

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Kathmandu Holdings will raise $NZ207 million ($A201 million) to strengthen its balance sheet amid the coronavirus pandemic and a 40 per cent drop in profit. The New Zealand company will raise equity via a fully underwritten $NZ30 million institutional placement and a 1.2 for one pro-rata accelerated non-renounceable entitlement offer […]

Gold slides, but set for quarterly gain

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Gold prices dipped over 2.0 per cent to their lowest level in a week as the US dollar firmed, but the metal was on track for a sixth straight quarterly rise on concerns about the global economic damage caused by the coronavirus pandemic. Spot gold fell 2.1 per cent to […]

Copper suffers worst quarter since 2011

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Copper prices have risen after data showed an unexpected rebound in factory activity in China, but were set for their worst quarter since 2011 as the coronavirus outbreak shut down swathes of the global economy, reducing the need for metals. Benchmark copper was up 3.5 per cent at $US4,935.50 a […]

Oil prices post biggest quarterly losses

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Crude oil benchmarks ended a volatile quarter with their biggest losses in history, as both US and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russia and Saudi Arabia. Both benchmarks lost roughly two-thirds […]