A UK research report has found a growing number of couples over 60 live in separate households, a trend particularly pronounced among those entering a new relationship at this stage of their lives. Improved mental health is a bonus.
Speakers of the calibre of David Knoff, the expedition leader stranded with his team in Antarctic during COVID, can regularly be heard at this global institution that places a premium on knowledge, not qualifications.
ASX closes up 0.9%; AMP rallies, Tyro dives 22%
ASX jumps despite RBA move, lithium, AMP spike higher
The S&P/ASX200 (ASX: XJO) continued its strong recent run gaining 0.9 per cent on Wednesday behind strength in the materials (1.4 per cent) and financial sectors (1.2 per cent).
The likes of BHP (ASX: BHP) and Rio Tinto (ASX: RIO) both rallied by more than 1 per cent despite further falls in the iron ore price, as China clamps down steel production.
It was all about lithium once again, as the close of the COP26 convention saw the likes of Orocobre (ASX: ORE) and Pilbara (ASX: PLS) gain over 6 and 5 per cent respectively, as the surge in demand for electric vehicles and batteries is set to continue.
In the financial sector, Commonwealth Bank of Australia (ASX: CBA) surprised by announcing they will be offering cryptocurrency payments via their personal banking app, with shares gaining 1.2 per cent on the news.
Traders were also positive on the fact that higher interest rates tend to offer greater scope for higher profit margins for the sector.
The embattled AMP Ltd (ASX: AMP) topped the market gaining over 9 per cent after announcing they would divest the remaining 19 per cent of life insurance Resolution Life, they own for $524 million.
The deals adds $450 million to their balance sheet amid hope of some sort of capital return.
Amcor covers supply chain issues, Huon takeover confirmed, Tyro tanks
Consumer packaging business Amcor (ASX: AMC) which reports in the US quarterly period, announced that quarterly profit had increased 2 per cent to $202 million for the quarter despite growing supply chain and resin input issues.
Revenue jumped by over 9 per cent, however, the majority of this came in the form of higher costs that were passed onto customers.
That said, management reaffirmed their expectation of 7 to 11 per cent earnings growth despite growing raw material shortages.
They noted the prioritisation of their existing customers and ensuring they had security of supply as key drivers of the strong quarter.
Shares in Tyro Payments (ASX: TYR) fell more than 15 per cent after the company delivered their AGM today with investors clearly concerned with the circa 25 per cent transaction growth in the four months to the end of October.
Management continues to hold off on providing specific guidance but confirm transaction values in NSW had spike by over 40 per cent.
Salmon farmer Huon (ASX: HUO) looks set to overcome Twiggy Forrest’s complaints with the Federal Court approving the takeover by Brazilian meat processing giant, JBS.
No taper tantrum as Fed relents, Activision, Zillow sold off on operational challenges
As flagged in previous weeks and press conferences the Federal Reserve voted to approve the ‘scaling back’ of bond purchases that had been central to stabilising the economy during the pandemic.
The board voted to reduce the existing US$120 billion in monthly bond buying that seeks to keep bond yields and the rates set off them lower, with a cut of US$15 billion from next month.
Chair Powell was quick to reiterate that this is both an important step but also not an automatic process and continued to point out the role that supply chain issues, rather than demand, are playing in the current transitory inflation.
Markets rallied on the news with the Nasdaq gaining most, up 1 per cent, followed by the S&P 500 and Dow Jones, up 0.6 and 0.3 per cent respectively.
Earnings season turned negative after Activision Blizzard (NYSE: ATVI) which makes popular video games including Call of Duty announced several titles will be delayed; shares fell 14 per cent.
It was a similar story for Zillow, a home buying website, which fell 24 per cent after announcing they would cease the practice of flipping homes and refocus on their core business.
