Money
Which countries are taking advantage of discounted Russian oil?
India is taking advantage of discounted Russian oil.
Russia is seeking new markets for its oil exports as Western sanctions tighten, and India has answered the Kremlin’s calls.
The nation is now ramping up imports from the country.
Meanwhile, the US says that although these oil imports do not violate sanctions, supporting Russia during this time is seen as supporting its Invasion of Ukraine.
There are also growing concerns among Western leaders that China may do the same.
China is already the largest single buyer of Russian oil, and is also widely expected to buy more oil from Russia at deep discounts.
Consumers have been warned to expect higher crude prices to come.
Money
Australian Dollar surges: What $0.70 means for markets
Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.
Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.
The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.
Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.
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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets
Money
S&P 500 rises as financial stocks lead and tech slips
S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!
S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!
The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.
Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.
Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.
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Money
Australia’s GST debate heats up amid tax reform push
Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.
Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.
Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.
Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.
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