News

Supermarkets are now allowed to coordinate with each other on food supplies during the coronavirus crisis

The ACCC is letting supermarkets coordinate with each other when working with suppliers and manufacturers to ensure groceries are evenly distributed around Australia. It comes under a special interim authorisation for supermarkets including Woolworths, Coles, Aldi and IGA’s parent company Metcash. The authorisation, however, doesn’t allow the supermarkets to agree […]
Supermarkets are now allowed to coordinate with each other on food supplies during the coronavirus crisis
Markets

Why a coronavirus-driven recession would be a unique beast — and why the normal playbook might not work

The ongoing coronavirus outbreak could result in a dangerous and unique type of global economic recession. The outbreak has already crippled spending activity in China and prompted widespread factory shutdowns, harming both supply and demand in the economic superpower – and infecting economic operations worldwide. Central banks are normally well-positioned […]
Why a coronavirus-driven recession would be a unique beast — and why the normal playbook might not work
Markets

Oil drops after data shows unexpected jump in US inventories

Oil shed more than 1% on Wednesday. EIA data showed US crude inventories unexpectedly rose. Watch oil trade in real time here. Oil prices slumped Wednesday, extending losses after their worst month in two years, after data showed US crude inventories rose unexpectedly. West Texas Intermediate dropped 1.2% to $US67.60 […]
Oil drops after data shows unexpected jump in US inventories
Markets

Oil slides as OPEC closes in on a production increase

Oil was down more than 1% early Thursday. OPEC members and other producers appear closer to reaching a deal to raise output at the end of the week. Watch oil trade in real time here. Crude prices slid Thursday as OPEC and other producers moved closer to a deal on […]
Oil slides as OPEC closes in on a production increase
Markets

Oil rallies to fresh 3-year high

Oil prices jumped to fresh highs on Tuesday morning. That’s on the back of a bullish OPEC report and Iran sanctions. Follow oil prices in real time here. Oil prices rose to fresh multi-year highs Tuesday morning after OPEC said it cut supply more than expected and as markets poised […]
Oil rallies to fresh 3-year high