The chief executives of two of Australia’s biggest banks have underlined the mounting financial risks in the construction sector, as builders face a hit from surging costs of materials and rising wages bills. Amid concerns about growing financial stress in parts of the building industry, National Australia Bank chief executive Ross McEwan and ANZ Bank chief Shayne Elliott both highlighted […]

Treasuries fluctuated over the course of the trading session on Thursday before ending the day near the unchanged line. Bond prices came under pressure over the course of morning trading but recovered in the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to […]

Extracting oil and natural gas from the earth is expensive. With crude oil and gas prices at current levels, it is reasonable to ask why energy companies are not spending more of their newfound wealth on pumping more of the stuff. The answer is partly that they have been burned before, borrowing heavily in the middle part of the past […]

New York (CNN Business)China’s economy has slumped as Covid cases surged in the world’s most populous country. But Chinese consumers stuck at home are still spending. E-commerce giant Alibaba reported better-than-expected earnings and sales for its most recent quarter Thursday. Shares of Alibaba (BABA) were up nearly 15% in late morning trading after the company reported that revenue rose 9% […]

GENEVA (Reuters) – The World Health Organization’s (WHO) members re-elected Tedros Adhanom Ghebreyesus as Director General by a strong majority for another five years, the president of the World Health Assembly said on Tuesday.Dr Tedros?Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO) speaks following his re-election during the 75th World Health Assembly at the United Nations in Geneva, Switzerland, […]

After trending higher over the past few sessions, treasuries moved gave back some ground during the trading day on Monday. Bond prices came under pressure in morning trading and remained firmly negative throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 7.2 basis points to 2.859 percent. The ten-year yield closed […]

New York (CNN Business)Stablecoins are unstable. Cryptocurrencies don’t act like currency. Does digital money ever stand a chance of winning the establishment’s embrace? With the prices of cryptocurrencies like bitcoin and ethereum and so-called stablecoins like Luna and TerraUSD plunging in value and hurting many investors in the process, that seems unlikely for now — at least not until crypto […]