Your new Lululemon gear could use recycled plastic from this start-up
Sydney-based recycling start-up Samsara Eco has inked a 10-year deal with leisurewear giant Lululemon to provide it with 20 per cent of its fibres for use across its collections.
The agreement represents the most significant chapter in the emerging partnership between the Australian recycler and the Nasdaq-listed leggings specialist.
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AU Financial Review
an hour ago
- AU Financial Review
ASX to rise, Wall St up on muted PPI, oil tops $US70 late
Australian shares are poised to open higher after shares closed modestly higher in New York following another muted price report, though there are signs that the US labour market is starting to lose momentum. Brent Crude edged above $US70 a barrel late in New York's trading day. It traded modestly lower for most of the session despite President Donald Trump saying he sees 'a chance of a massive conflict' between Israel and Iran, though he said he did not see that as 'imminent'. The producer price index rose 0.1 per cent from a month earlier. The median forecast in a Bloomberg survey of economists called for a 0.2 per cent increase. Excluding food and energy, the PPI also increased 0.1 per cent. 'Although we expect tariffs to eventually lead to higher inflation, repeatedly soft inflation prints could suggest weaker-than-expected tariff pass-through,' Evercore ISI's Krishna Guha said. That marginally reduces upside risk to inflation and lowers 'a bit the bar for the extent of labour market weakness the Fed would need to see to cut in September', Guha also said. US equities ended higher in a broad advance, with utilities pacing eight of the S&P 500's 11 industry sectors higher. Boeing slid 4.8 per cent, recovering from an opening drop after one of its aircraft crashed in India. Market highlights ASX futures are pointing up 47 points or 0.6 per cent to 8606. All US prices near 4.55pm New York time (6.55am AEST). Friday's agenda Friday marks the end of a quiet week for local data, with May's BusinessNZ's manufacturing purchasing managers' index the highlight. Later on Friday, both Germany and France will release consumer price index data. The University of Michigan will release a preliminary June sentiment report at midnight. Top stories Victoria uses 13pc of entire year's gas budget in just three days | Breakdowns at a major coal power plant and weak renewable energy generation have left the state running down its stores faster than expected in a cold winter. Government holds tough on defence amid AUKUS threat | The Albanese government says the defence budget will not be used as a negotiating tool with allies. | Anthony Albanese's approach with US President Donald Trump is to neither beg nor be bullied, writes Phillip Coorey. But this is a very different America from the one he visited just two years ago. | The Albanese government could raise a $50 billion tax on fossil fuel exports and up the GST to lower company and income taxes, the former Treasury head argues.
Daily Telegraph
an hour ago
- Daily Telegraph
Boom to bust: home prices plunge in key Sydney suburbs
They're the suburbs Sydney's fledgling housing boom forgot. Property prices in some of the city's most coveted suburbs have plummeted over the past year despite falling interest rates igniting another surge in real estate values across the rest of the market. Median price falls of up to $750,000 in coastal and well-connected inner suburbs have largely been the result of buyers turning to more affordable markets amid cost of living pressures. This reduction in demand – at a time of rising listings – has put pressure on sellers in up-market areas, while buyers in these markets had more room to negotiate. PropTrack data indicated the largest falls over the past year were in eastern suburbs Vaucluse, Waverley, Woolloomooloo and Darlinghurst and in northern beaches suburbs Manly and Fairlight. Prices in these markets all fell by an average of more than 14 per cent over the past year, which given the inflated prices, delivered buyers significant savings. Manly house prices were an average of close to $750,000 lower than a year ago, while in neighbouring Fairlight the difference was about $600,000. Other suburbs with major falls, reported at between 10 and 14 per cent, were Cammeray, Cremorne, Gordon, Kirribilli, Neutral Bay and Lindfield, on the north shore. There were also large price falls for units in southern suburbs Blakehurst, Woolooware and Kingsgrove and for houses in Glebe and Strathfield South, in the inner west. REA Group economist Eleanor Creagh said a complex set of forces pushed down median prices in many up-market areas, but one of the biggest factors was looming uncertainty about the global economy. 'Buyers in some premium markets may have been more cautious,' she said. 'These buyers are typically less sensitive to mortgage rates and more responsive to broader macro-economic factors. 'With recent uncertainty around the economic outlook and volatility in equity markets, some high-end buyers may be exercising caution (and) delaying upgrade decisions.' Ms Creagh said this contrasted with a recent rise in spending across the cheaper end of the market. 'More affordable markets … have seen renewed activity since the Reserve Bank's February and May rate cuts, with improved borrowing capacity lifting prices.' Ms Creagh noted that some annual price figures may be somewhat skewered by weakness in the market late last year, just prior to rate cuts, and shifts in the types of homes getting sold. Auctioneer Damien Cooley – the director of Cooley, one of Sydney's biggest auction houses – said the type of housing stock coming to market was playing a part in prices. 'A-grade' homes that ticked all the boxes for buyers were still selling well even in up-market areas. But there was also a high share of listings for 'C-grade' and 'D-grade' homes – properties with major drawbacks – and these were struggling. 'Sellers of C-grade homes are getting crucified,' he said. 'Buyers are not interested in a lot of these properties unless they can get them for bargain basement prices.'
News.com.au
2 hours ago
- News.com.au
Boom to bust: home prices plunge in key Sydney suburbs
They're the suburbs Sydney's fledgling housing boom forgot. Property prices in some of the city's most coveted suburbs have plummeted over the past year despite falling interest rates igniting another surge in real estate values across the rest of the market. Median price falls of up to $750,000 in coastal and well-connected inner suburbs have largely been the result of buyers turning to more affordable markets amid cost of living pressures. This reduction in demand – at a time of rising listings – has put pressure on sellers in up-market areas, while buyers in these markets had more room to negotiate. PropTrack data indicated the largest falls over the past year were in eastern suburbs Vaucluse, Waverley, Woolloomooloo and Darlinghurst and in northern beaches suburbs Manly and Fairlight. Prices in these markets all fell by an average of more than 14 per cent over the past year, which given the inflated prices, delivered buyers significant savings. Manly house prices were an average of close to $750,000 lower than a year ago, while in neighbouring Fairlight the difference was about $600,000. Other suburbs with major falls, reported at between 10 and 14 per cent, were Cammeray, Cremorne, Gordon, Kirribilli, Neutral Bay and Lindfield, on the north shore. There were also large price falls for units in southern suburbs Blakehurst, Woolooware and Kingsgrove and for houses in Glebe and Strathfield South, in the inner west. REA Group economist Eleanor Creagh said a complex set of forces pushed down median prices in many up-market areas, but one of the biggest factors was looming uncertainty about the global economy. 'Buyers in some premium markets may have been more cautious,' she said. 'These buyers are typically less sensitive to mortgage rates and more responsive to broader macro-economic factors. 'With recent uncertainty around the economic outlook and volatility in equity markets, some high-end buyers may be exercising caution (and) delaying upgrade decisions.' Ms Creagh said this contrasted with a recent rise in spending across the cheaper end of the market. 'More affordable markets … have seen renewed activity since the Reserve Bank's February and May rate cuts, with improved borrowing capacity lifting prices.' Ms Creagh noted that some annual price figures may be somewhat skewered by weakness in the market late last year, just prior to rate cuts, and shifts in the types of homes getting sold. Auctioneer Damien Cooley – the director of Cooley, one of Sydney's biggest auction houses – said the type of housing stock coming to market was playing a part in prices. 'A-grade' homes that ticked all the boxes for buyers were still selling well even in up-market areas. But there was also a high share of listings for 'C-grade' and 'D-grade' homes – properties with major drawbacks – and these were struggling. 'Sellers of C-grade homes are getting crucified,' he said. 'Buyers are not interested in a lot of these properties unless they can get them for bargain basement prices.'
