Afterpay top performer on the Australian benchmark index
March 12 (Reuters) - Australian shares gained on Friday as hopes of a strong global economic recovery increased after U.S. jobless claims fell and President Joe Biden signed into law a $1.9 trillion stimulus package.
The S&P/ASX 200 index gained 0.6% to 6,752 by 2308 GMT and was set to post its second consecutive weekly gain.
Biden on Thursday signed into law one of the biggest relief packages in U.S. history, aimed at spurring economic growth, while data showed fewer than expected Americans filed new claims for unemployment benefits last week.
Overnight, the Dow Jones Industrial Average index and the S&P 500 closed at all-time highs.
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Berkeley s focus continues to be on progressing the approvals required to commence construction of the Salamanca mine and bring it into production. In August 2020, the Urbanism License ( UL ) was granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine. The grant of the UL was a significant permitting milestone for Berkeley and a positive step in the development of the project. Following the grant of the UL, the Company received formal notification from the Ministry for Ecological Transition and the Demographic Challenge ( MITECO ) that it had been granted the renewal of the Initial Authorisation for the uranium concentrate plant as a radioactive facility at the Salamanca project ( NSC I ) until there is a resolution on the Authorisation for Construction for th
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9 Mar, 2021 Author Ranina Sanglap
Australia s buy-now-pay-later players may need more regulation to protect customers after the point-of-sale credit industry has grown rapidly in recent years, helped in part by an absence of oversight, experts say.
Companies such as Afterpay Ltd., Zip Co. Ltd. and Brighte Capital Pty. Ltd. have attracted droves of consumers, especially younger buyers on e-commerce platforms, by allowing them to pay for their purchases in installments and not charging them interest. That has also led to criticism of their lending practices, mainly from customers being charged heavy late fees.
Buy-now-pay-later, or BNPL, players have so far avoided regulation as provisions of the Australian National Consumer Credit Protection Act of 2009 do not apply to certain types of loans, including interest-free credit for a short term. The industry adopted a code of conduct for self-regulation from Mar