The Australian economy powered into this year on solid footings as the country’s households remain cashed-up to consume and a pipeline of residential construction has been established.
GDP jumped 3.1 percent last quarter from the previous quarter, when it rose an upwardly revised 3.4 percent, the Australian Bureau of Statistics said yesterday.
That was the first back-to-back expansions of more than 3 percent since quarterly records were established in 1959.
Compared with a year earlier, the economy shrank 1.1 percent, while economists had forecast a 1.9 percent contraction.
The economy’s V-shape recovery is coming into sharp relief as Australian firms step up hiring,
TOP NEWS SUMMARY: Prudential plans equity raise amid shift to Asia
Wed, 3rd Mar 2021 11:10
(Alliance News) - The following is a summary of top news stories Wednesday.
COMPANIES
Prudential reported a rise in annual profit despite a fall in revenue, mitigated by narrowed charges, but cut its final payout to a sliver of what it once was as the company faces challenges in the short-term. The insurer also announced an equity raise as it expands in Asia, and a renewed bancassurance partnership between its Vietnamese business Prudential Vietnam Assurance Private Ltd and Maritime Commercial Joint Stock Bank. Prudential posted IFRS pretax profit for 2020 of USD2.42 billion, rising 5.7% from USD2.29 billion a year prior, off of reduced total charges net of reinsurance of GBP54.07 billion, having been GBP91.85 billion in 2019. The reduced total charges mitigated a 40% fall in total revenue net of reinsurance to USD55.97 billion from USD93.74 billion, as earned premiums net of reinsurance su
AUD/USD in a holding pattern ahead of Australia retail sales data invezz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from invezz.com Daily Mail and Mail on Sunday newspapers.
DSM launches three times faster-acting form of vitamin D supplement in Australia to support immune health pharmiweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pharmiweb.com Daily Mail and Mail on Sunday newspapers.