The ASX closed higher after the US Fed Reserve cut interest rates. Sydney flight delays are expected into the afternoon after an emergency landing by a Qantas flight. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
The ASX 200 closed higher on Friday as global markets continued to react to a new Trump administration and a US interest rate cut.
Meanwhile, there was some cash rate relief overseas with Federal Reserve chair Jerome Powell delivering Trump's yet to be formed administration a gift in the form of a 0.25 percentage point interest rate cut. The inquiry's heard allegations about how the big two, Coles and Woolworths, have contracts with growers that leave them in the dark about pricing, supply and enforced discounts."The industry is going through a tough time at the moment," Lucy Gregg from AUSVEG said.
He says the direct impact of US tariffs will be minimal, as less than 4 per cent of Australia's exports go to the United States."We suspect second-round effects for Asian economies, where more than 80 per cent of Australian exports go, will also be contained," he says in a research note. "While the bank has a track record of prudently managing financial risk, we are still building capability in the management of non-financial risk," the company said in its annual report."This has been emphasised by the Australian Prudential Regulation Authority requiring ANZ to hold an additional operational risk capital overlay, due to concerns about our progress in this space, including issues within our markets business.
"Not permitted under law," Mr Powell told reporters at a press conference after the interest rate decision.With a contract due to run until May 2026, there appears to be plenty of opportunity for an eventual showdown between the pair. Return on Equity declined to 11.1 per cent, down 79 basis points from the prior year, reflecting the drop in earnings and elevated capital levels.
12:30pm: Pilot tells passengers there is a "major problem" with the right engine, according to Mark Willacy who is on board1:10pm: Fire and Rescue NSW says it is assisting to extinguish a grass fire that "ignited next to the third runway"Five flights have been diverted from Sydney and will arrive later today, while there have been many other flight disruptions due to the closure of one of the two main runways.
ACCC's Mick Keogh: Do you know another industry where a purchase order doesn't mean what's written on the purchase order?Qantas shares are trading higher on the day, although seem to have taken a dip around the time an apparent engine failure occurred on one of its planes taking-off from Sydney Airport.to Brisbane landed safely in Sydney shortly after 1:00pm, afterBy Emilia Terzon
Grower Peter Hall has been telling the inquiry that he finds pricing offered by the supermarkets as "actually quite vague". He says more data sharing could help suppliers immensely.Thanks for alerting us to the error — I suspect a crude oil price was entered into the iron ore field by mistake.An airport spokesperson said Qantas flight QF520 from Sydney to Brisbane landed safely just after 1:00pm AEDT.
"That's when the pilot came on about 10-15 minutes into the journey and he said that there'd been a major problem with the right engine, that everything was under control at that point, but we'd have to go back to Sydney." "We understand this would have been a distressing experience for customers and we will be contacting all customers this afternoon to provide support.In March, the chairman of banking and superannuation regulator Australian Prudential Regulation Authority , John Lonsdale, announced that the watchdog will be conducting Australia's first financial system stress test in 2025.
ASX Share Market Australian Dollar Wall Street Dow Jones NYSE Bitcoin Live Update Live Blog Us Election Donald Trump Chemist Warehouse Sigma Supermarkets
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Live: ASX higher on US rate cut, flight delays in Sydney as Qantas makes emergency landingThe ASX rallies after the US Fed Reserve cut interest rates. Sydney flight delays are expected into the afternoon after an emergency landing by a Qantas flight. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
ASX 200 LIVE: ASX to rise, techs pace Wall St gains, Fed cuts rates againAustralian shares are set to open higher, following US equities. ANZ cuts dividend as profits slide. Bitcoin eyes $US77,000. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall, Amazon rallies after hoursAustralian shares are set to follow US equities lower. Oil surges on new Middle East threat. Macquarie to report. Follow updates here.
Read more »
Anthony Albanese Qantas: Allegra Spender quits Chairman’s Lounge, demands Qantas ends upgradesPM says he was “not aware” of any flight upgrade requests by his staff for him; Bulk billing has “stopped sliding”; PM’s HECS debt plan slammed. Live updates here.
Read more »
ASX AGL: Why this ASX dinosaur may be a smart AI playThe global data centre boom is already having an impact on Australia’s energy sector and over time it could help boost the profits of an ASX giant.
Read more »
ASX 200 LIVE: ASX resets record high as banks and miners climbShares extend gains. S&P 500 and Dow reset their record closes. Crown Melbourne fined $2m for letting self-excluded gamblers place bets. Ampol provides trading update. Bitcoin at $US66,000. Follow updates here.
Read more »