Australia will announce a decision on shifting its Israel embassy from Jerusalem to Tel Aviv in December.
Reported by SBS 1 hour ago.
Minister meets with Indonesian counterpart
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How much BNZ paid its Oz parent
Bank of New Zealand is paying its Australian parent, National Bank of Australia, a $945 million dividend and the parent is giving $600m of that back to it as additional equity.BNZ reported a $1.03 billion net profit for the year...
Reported by New Zealand Herald 1 hour ago.
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Never a dull moment: Australia-India test series set to go
One team has one of its star players sidelined with an ankle injury, and he'll miss the first test beginning Thursday at the Adelaide Oval. The other has had upsetting publicity it could never have imagined with the brother of one...
Reported by New Zealand Herald 2 hours ago.
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Gangsters, cops and Lawyer X: the police informant scandal that has shocked Australia
In 2005, 8 years after the homicide of the underworld determine Alphonse Gangitano kicked off an extended and bloody gangland battle at the streets of Melbourne, a distinguished prison barrister agreed to change into a registered police informant in trade for a promise that her id can be saved secret. The girl – recognized variously …
Reported by The News Articles 1 hour ago.
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Indian bowling attack has learnt from past mistakes, says Kohli
Indian skipper Virat Kohli has urged his fast bowlers to learn from previous tours if they are to spearhead a breakthrough Test series victory in Australia.
Reported by Brisbane Times 22 minutes ago.
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Arafura Resources optimising Nolans project DFS, set for publication in February
Arafura Resources Ltd (ASX:ARU) CEO Gavin Lockyer speaks to Proactive Investors about today's announced optimisation review of Definitive Feasibility Study (DFS) cost estimates for the Nolans Neodymium-Praseodymium (NdPr) project in Australia's Northern Territory. The DFS report is now scheduled for release in early February 2019. Lockyer also explains the various advantages of having all operations domiciled in Australia. A Share Purchase Plan will be wrapping in two days.
Reported by Proactive Investors 45 minutes ago.
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Aust migration opportunities after Brexit
Skilled migration between Australia and the United Kingdom could step up once a Brexit deal is complete, the outgoing high commissioner says.
Reported by SBS 40 minutes ago.
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SoftBank, other investors, keen to pump up to USD 1 bn in Ola
Cab aggregator Ola has received interests from multiple investors, including existing shareholder SoftBank, to pump in funds of up to USD 1 billion, according to sources. Locked in a bruising battle for market leadership with US-based rival Uber in India as well as in markets like Australia, New Zealand and the UK, Ola has been […]
Reported by BGR India 42 minutes ago.
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Australia: Growth stumbles, consumer spending soft – Westpac
Analysts at Westpac, point out that the Australian output growth slowed to 0.3% in the September quarter, well below expectations (market median and Westpac 0.6%).
*Key Quotes*
“Annual real GDP growth has slipped to 2.8%; the June quarter annual growth figure was revised lower to 3.1% from 3.4% previously.”
“Consumer spending was the big surprise in the quarter, up only 0.3% compared to an already weak expected 0.5%. Services, for which there are limited partial indicators, contracted in the quarter, while vehicle operations (spending on fuel) also contracted.”
“With the low savings rate acting as a “floor” to spending stronger income growth will be required to support the Reserve Bank’s forecast of 3.0% consumption growth in 2019 and 2020. Westpac’s forecast is around 2.5%.” Reported by FXstreet.com 50 minutes ago.
*Key Quotes*
“Annual real GDP growth has slipped to 2.8%; the June quarter annual growth figure was revised lower to 3.1% from 3.4% previously.”
“Consumer spending was the big surprise in the quarter, up only 0.3% compared to an already weak expected 0.5%. Services, for which there are limited partial indicators, contracted in the quarter, while vehicle operations (spending on fuel) also contracted.”
“With the low savings rate acting as a “floor” to spending stronger income growth will be required to support the Reserve Bank’s forecast of 3.0% consumption growth in 2019 and 2020. Westpac’s forecast is around 2.5%.” Reported by FXstreet.com 50 minutes ago.
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Australia drops Mitchell Marsh, Harris set to make his debut
The Australian cricket team has announced their playing XI for the first test match against India to be played from December 6 at the Adelaide Oval.
Reported by Sify 48 minutes ago.
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Forex Today: Aussie sold into poor Australian GDP, eyes on Draghi, UK services PMI
The Asian session today was an eventful one amid renewed fears over the US-China trade war following the US President Trump’s overnight comments. Moderate risk-aversion persisted across the financial markets in Asia that helped the US dollar to recover some ground across its main competitors.
Among the Asia-pac currencies, the Aussie emerged the biggest loser, down nearly 0.70% below the 0.73 handle, in response to awful Australian Q3 GDP numbers. However, upbeat Chinese Caixin services PMI release offered some temporary respite to the bulls. The Kiwi tracked the losses in its OZ neighbor and headed back towards the 0.68 handle. Meanwhile, the USD/JPY pair bounced-off two-week lows and regained the 113 level amid a broad-based US dollar rebound and BoJ Deputy Governor Wakatabe”s dovish remarks.
On the commodities front, both crude benchmarks fell nearly -1.60% amid the risk-off action on the Asian equities while gold prices on Comex traded weaker near 1240 levels, as the focus remains on the Treasury yields and Fed’s beige book in the day ahead.
*Main Topics in Asia*
Australia Q3 GDP misses, comes in at 0.3%
Australia 10-year bond yield hits 13-month low
Trump threatens tariffs if can't reach "real deal" with China - Reuters
Northern Irish DUP says will vote against May's Brexit deal - Reuters
BoJ’s Wakatabe: BoJ will maintain massive stimulus to nudge up prices to 2% target
China’s CommMIn: China will push ahead with trade negotiations with US in 90 days
China Caixin/Markit Nov Services PMI jumps to 5-month high of 53.8, a big beat
Fitch affirms China at A+ Outlook Stable
UK Parliament does not need to pass a law to revoke Article 50 - Sky News
Asian stocks recoil from renewed market concerns, open red across the board
*Key Focus Ahead*
Markets brace for a busy Wednesday’s European calendar, with the ECB President Draghi’s speech, the main highlight. However, the second-tier final services PMI releases from the Euro area will also offer some incentives to the EUR, GBP traders ahead of the UK services PMI report due at 0930 GMT. Also, of note remains the Eurozone retail sales report that will drop in at 1000 GMT. In early Europe, the non-monetary policy meeting of the ECB will be held at 0800 GMT and the BOE FPC statement will be published at 0830 GMT.
In the NA session, the Bank of Canada (BOC) rate decision at 1500 GMT will remain the main highlight amid a lack of the first-tier reports from Canada and the US. However, not much reaction is expected on the BOC rate decision, as the Canadian central bank is expected to stand pat after last month’s 25bps rate hike. Later on, at 1900 GMT, the Fed Beige book will be released, which could offer some fresh insights on the Fed’s monetary policy path.
*Besides, the following central bankers' speeches will also remain in focus for further trading impetus.*
0830 GMT: ECB President Draghi
1315 GMT: FOMC member Quarles
EUR/USD under pressure despite US yield curve inversion, has charted symmetrical triangle
On the daily chart, the currency pair has charted a symmetrical triangle with support at 1.1292 and *resistance* at 1.1415. A break below the support would open up downside towards the recent low of 1.1315.
GBP/USD struggling to hold 1.2700 ahead of fresh Brexit headlines
The *economic calendar* is a fairly light screening for the GBP, with November's Markit Services PMI due at 09:30 GMT and forecast to clock in at 52.5, a mild uptick from the previous month's 52.2.
The Bank of Canada Preview: No December rate hikes but three more hikes to go in 2019
The Bank of Canada is widely expected to keep the overnight target rate unchanged at 1.75% on monetary policy meeting on Wednesday, December 5.
ADP employment preview: job creation expected to remain healthy
American employers are thought to have maintained their strong recruitment in November with 195,000 new positions on the books at the payroll processing giant ADP.
Rupee to drop back to 72 by end-May 2019 – Reuters poll
According to the latest Reuters poll of 40 strategists, the Indian National Rupee (INR) is likely to stall its rebound and drop back to the 72 level against its American counterpart by end-May 2019 following the nation’s general elections.
Reported by FXstreet.com 42 minutes ago.
Among the Asia-pac currencies, the Aussie emerged the biggest loser, down nearly 0.70% below the 0.73 handle, in response to awful Australian Q3 GDP numbers. However, upbeat Chinese Caixin services PMI release offered some temporary respite to the bulls. The Kiwi tracked the losses in its OZ neighbor and headed back towards the 0.68 handle. Meanwhile, the USD/JPY pair bounced-off two-week lows and regained the 113 level amid a broad-based US dollar rebound and BoJ Deputy Governor Wakatabe”s dovish remarks.
On the commodities front, both crude benchmarks fell nearly -1.60% amid the risk-off action on the Asian equities while gold prices on Comex traded weaker near 1240 levels, as the focus remains on the Treasury yields and Fed’s beige book in the day ahead.
*Main Topics in Asia*
Australia Q3 GDP misses, comes in at 0.3%
Australia 10-year bond yield hits 13-month low
Trump threatens tariffs if can't reach "real deal" with China - Reuters
Northern Irish DUP says will vote against May's Brexit deal - Reuters
BoJ’s Wakatabe: BoJ will maintain massive stimulus to nudge up prices to 2% target
China’s CommMIn: China will push ahead with trade negotiations with US in 90 days
China Caixin/Markit Nov Services PMI jumps to 5-month high of 53.8, a big beat
Fitch affirms China at A+ Outlook Stable
UK Parliament does not need to pass a law to revoke Article 50 - Sky News
Asian stocks recoil from renewed market concerns, open red across the board
*Key Focus Ahead*
Markets brace for a busy Wednesday’s European calendar, with the ECB President Draghi’s speech, the main highlight. However, the second-tier final services PMI releases from the Euro area will also offer some incentives to the EUR, GBP traders ahead of the UK services PMI report due at 0930 GMT. Also, of note remains the Eurozone retail sales report that will drop in at 1000 GMT. In early Europe, the non-monetary policy meeting of the ECB will be held at 0800 GMT and the BOE FPC statement will be published at 0830 GMT.
In the NA session, the Bank of Canada (BOC) rate decision at 1500 GMT will remain the main highlight amid a lack of the first-tier reports from Canada and the US. However, not much reaction is expected on the BOC rate decision, as the Canadian central bank is expected to stand pat after last month’s 25bps rate hike. Later on, at 1900 GMT, the Fed Beige book will be released, which could offer some fresh insights on the Fed’s monetary policy path.
*Besides, the following central bankers' speeches will also remain in focus for further trading impetus.*
0830 GMT: ECB President Draghi
1315 GMT: FOMC member Quarles
EUR/USD under pressure despite US yield curve inversion, has charted symmetrical triangle
On the daily chart, the currency pair has charted a symmetrical triangle with support at 1.1292 and *resistance* at 1.1415. A break below the support would open up downside towards the recent low of 1.1315.
GBP/USD struggling to hold 1.2700 ahead of fresh Brexit headlines
The *economic calendar* is a fairly light screening for the GBP, with November's Markit Services PMI due at 09:30 GMT and forecast to clock in at 52.5, a mild uptick from the previous month's 52.2.
The Bank of Canada Preview: No December rate hikes but three more hikes to go in 2019
The Bank of Canada is widely expected to keep the overnight target rate unchanged at 1.75% on monetary policy meeting on Wednesday, December 5.
ADP employment preview: job creation expected to remain healthy
American employers are thought to have maintained their strong recruitment in November with 195,000 new positions on the books at the payroll processing giant ADP.
Rupee to drop back to 72 by end-May 2019 – Reuters poll
According to the latest Reuters poll of 40 strategists, the Indian National Rupee (INR) is likely to stall its rebound and drop back to the 72 level against its American counterpart by end-May 2019 following the nation’s general elections.
Reported by FXstreet.com 42 minutes ago.
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Argonaut Resources and JV partner to drill Torrens project in South Australia
Argonaut Resources NL (ASX:ARE) and its joint venture partner Aeris Resources Ltd (ASX:AIS) are about to start drilling the Torrens project in South Australia, which has a larger footprint than the nearby world-class Olympic Dam project. The 8-10 stage I diamond drilling program will utilise an innovative helicopter-supported drilling method as it will take place on the environmentally sensitive Lake Torrens salt lake landform. READ: Aeris Resources to adopt innovative helicopter method in upcoming Torrens drilling The method, which involves a specialised heli-portable diamond drill rig, has been designed to minimise disturbance on the salt lake. Two contracts have been awarded by the partners for the drilling and helicopter services with equipment to be mobilised from mid-December and drilling expected to start in mid-January. Argonaut’s wholly-owned subsidiary Kelaray Pty Ltd holds a 30% stake in the JV with Aeris holding the remaining 70%. READ: Argonaut Resources green lights major drilling program at Torrens Ten 6-metre by 2.8-metre raised work platforms will be transported by helicopter onto the lake and bolted together to act as a stable platform on the lake surface. The drill rig will be flown onto the platform in 16 sections and then re-assembled. Personnel, equipment, drill consumables and other materials will be also transported via helicopter from the exploration camp to the work platform. READ: Argonaut Resources’ leaping share price attracts ASX speeding ticket The Torrens project is 50 kilometres from Oz Minerals Limited’s (ASX:OZL) Carrapateena deposit and 75 kilometres from BHP Billiton Limited’s (ASX:BHP) Olympic Dam mine. Argonaut and Aeris are encouraged by a recent discovery by BHP Billiton Limited (ASX:BHP) of a discrete gravity anomaly around 45 kilometres southwest from Torrens. The Torrens Anomaly is a large regionally significant coincident magnetic and gravity anomaly with a footprint of more than 120 square kilometres.
Reported by Proactive Investors 20 minutes ago.
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EV manufacturer Rivian plans rally-style performance car
Rivian's R1S SUV is based on a modular 'skateboard'-style architecture...
American start-up's third model to exploit performance value of universal 'skateboard' architecture
The third model to come from new start-up electric car maker Rivian will be a rally-raid style performance car.
Speaking to Autocar at the LA motor show, Rivian founder and CEO RJ Scaringe said that the model to follow its initial R1T pick-up truck and R1S SUV would be “bananas” in the way it performed.
“The third vehicle will have a smaller wheelbase [than the R1S SUV] and will be the Rivian interpretation of a rally car with a lot of ground clearance,” said Scaringe.
Any car Rivian makes has a “combination of on and off-road performance, and a level of functionality that’s unique in its space”, according to Scaringe.
The UK is very much in Rivian’s plans for its models, with 2021 a likely launch date here for its initial offerings in right-hand drive. Construction will take place in a former Mitsubishi plant that’s currently being converted to Rivian’s requirements, with plenty of the existing infrastructure and machinery able to be used.
*Electric start-up Rivian unveils R1S SUV and R1T pick-up to rival Tesla*
Rivian also has plans to offer its modular skateboard chassis to other car makers, so long as its products don’t compete. Scaringe said he had had several approaches from interested car makers already, and also some from non-car makers interested in launching into the automotive world on a ready-made architecture.
The electric skateboard chassis allows for all different types of vehicle to be spawned from it, from cars to public transport. “You could build an 800hp R1T truck or a goods delivery van, or a shuttle bus,” said Scaringe. It’s this that could bring other non-automotive players into the industry, such as online retailers launching their own delivery vehicles.
The appeal for car makers is that new architectures are very expensive to develop, and Rivian now has an infinitely flexible one available off the shelf, and can even build the car so long as it does not compete with its own offerings.
To that end, Rivian plans to keep its own-brand products to smaller, more limited volumes, to stop the brand being too diluted and trying to appeal to a wider customer base.
Rivian is planning a full global launch for its models, including in both left- and right-hand drive. “California is a huge market here,” said Scaringe. “But China, Europe, North America too, and in right-hand drive [for UK] – in Australia, South Africa.
“I’ve had lots of requests in the past 24 hours, it’s been a united nations of countries.”
Rivian plans to sell direct to the consumer where it can, but will partner with dealers in places where that doesn’t allow.
“We’ll offer direct sale in a lot of areas where possible,” said Scaringe. “In some markets and states [where it isn’t possible] we’ll have partners. Then we’ll have partners on back-end things like servicing. We will own the customer service and experience – it’s important to own that. Dealers understand how to manage scale and how to add value on servicing and parts.”
*Read more*
*Why Rivian isn't just another electric start-up*
*2018 Los Angeles motor show: all the news and pictures*
*New Kia Soul EV revealed at LA show with more power and range* Reported by Autocar 33 minutes ago.
American start-up's third model to exploit performance value of universal 'skateboard' architecture
The third model to come from new start-up electric car maker Rivian will be a rally-raid style performance car.
Speaking to Autocar at the LA motor show, Rivian founder and CEO RJ Scaringe said that the model to follow its initial R1T pick-up truck and R1S SUV would be “bananas” in the way it performed.
“The third vehicle will have a smaller wheelbase [than the R1S SUV] and will be the Rivian interpretation of a rally car with a lot of ground clearance,” said Scaringe.
Any car Rivian makes has a “combination of on and off-road performance, and a level of functionality that’s unique in its space”, according to Scaringe.
The UK is very much in Rivian’s plans for its models, with 2021 a likely launch date here for its initial offerings in right-hand drive. Construction will take place in a former Mitsubishi plant that’s currently being converted to Rivian’s requirements, with plenty of the existing infrastructure and machinery able to be used.
*Electric start-up Rivian unveils R1S SUV and R1T pick-up to rival Tesla*
Rivian also has plans to offer its modular skateboard chassis to other car makers, so long as its products don’t compete. Scaringe said he had had several approaches from interested car makers already, and also some from non-car makers interested in launching into the automotive world on a ready-made architecture.
The electric skateboard chassis allows for all different types of vehicle to be spawned from it, from cars to public transport. “You could build an 800hp R1T truck or a goods delivery van, or a shuttle bus,” said Scaringe. It’s this that could bring other non-automotive players into the industry, such as online retailers launching their own delivery vehicles.
The appeal for car makers is that new architectures are very expensive to develop, and Rivian now has an infinitely flexible one available off the shelf, and can even build the car so long as it does not compete with its own offerings.
To that end, Rivian plans to keep its own-brand products to smaller, more limited volumes, to stop the brand being too diluted and trying to appeal to a wider customer base.
Rivian is planning a full global launch for its models, including in both left- and right-hand drive. “California is a huge market here,” said Scaringe. “But China, Europe, North America too, and in right-hand drive [for UK] – in Australia, South Africa.
“I’ve had lots of requests in the past 24 hours, it’s been a united nations of countries.”
Rivian plans to sell direct to the consumer where it can, but will partner with dealers in places where that doesn’t allow.
“We’ll offer direct sale in a lot of areas where possible,” said Scaringe. “In some markets and states [where it isn’t possible] we’ll have partners. Then we’ll have partners on back-end things like servicing. We will own the customer service and experience – it’s important to own that. Dealers understand how to manage scale and how to add value on servicing and parts.”
*Read more*
*Why Rivian isn't just another electric start-up*
*2018 Los Angeles motor show: all the news and pictures*
*New Kia Soul EV revealed at LA show with more power and range* Reported by Autocar 33 minutes ago.
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Hockey World Cup 2018: Three-time champions Australia become first team to qualify for quarter-finals by beating England
After the barren three quarters, Australia looked a completely different side in the final 15 minutes of the game as they pumped in two goals in a span of four minutes to race to a 2-0 lead.
Reported by Firstpost 24 minutes ago.
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Sport24.co.za | Kohli taking nothing for granted against Australia
Superstar skipper Virat Kohli has played down suggestions Australia are vulnerable after the ball-tampering scandal.
Reported by News24 5 minutes ago.
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Australia's climate change impasse 'has surprised me': UK high commissioner
Britain's outgoing high commissioner says a "visceral" connection with coal has played a role in Australia's impasse on climate change.
Reported by Brisbane Times 5 minutes ago.
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Ind vs Aus: Peter Handscomb in, Mitchell Marsh out for Adelaide Test
[Australia], Dec 5 (ANI): Australia have recalled right-hand batsman Peter Handscomb in the playing eleven, while dropping batting all-rounder Mitchell Marsh, for their first Test match against
Reported by Sify 3 minutes ago.
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Cricket: Lyon strikes twice to expose India's tail
Australia spinner Nathan Lyon struck twice to expose India's tail as the tourists staggered to 143 for six at tea on day one of the series-opening test on Thursday.
Reported by Reuters India 50 minutes ago.
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Australian punters aim for sixth straight win
Australia's record of claiming US college football's top award for punters the past five years appears set to grow to six.
Reported by Brisbane Times 1 hour ago.
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RPT-UPDATE 1-Cricket-Lyon strikes twice to expose India's tail
Australia spinner Nathan Lyon struck twice to expose India's tail as the tourists staggered to 143 for six at tea on day one of the series-opening test on Thursday.
Reported by Reuters India 47 minutes ago.
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