This six-month feud has been the only consistent event during COVID-19 and it is steadily intensifying. Recently, Australian exports of seafood has been subject to delays and wine and barley have faced higher tariffs in Chinese markets. Chinese authorities are also reportedly discouraging firms from buying Australian coal, cotton, and timber. China comprises 1/3 of …
US Election Finally Decided After a gruelling three-day slugfest where battleground states swung from blue to red and then back again, America finally has a new Commander-in-Chief. Democratic candidate Joe Biden is now the President Elect of the United States of America. With this brings a number of economic implications that could serve to make …
It was a tough week for the banks with announcements from ANZ, NAB and Westpac of severe losses to cash profits, increased remediation bills and a surge of write-downs. ANZ announced that cash profits had been slashed by $528 million, calculating accounting and restricting charges to amount to $202 million, while remediation charges addressing misconduct …
A silver lining in the property market… New data from the Commonwealth Bank has emerged this week, revealing that Australia’s property market is no longer being dominated by property investors but rather owner occupiers. This revelation is good news as both renting and purchasing a property in Melbourne and Sydney will continue to become cheaper. …
If you’ve been following along, you may recall the last interest rate cut by the RBA was in March of this year. Now, rates certainly aren’t expected to increase for the next 2-3 years, however last week’s announcement by Governor Lowe may have signalled a potential cut come November 1st or December 3rd.
Ahh, it’s that time of the year again – and I don’t mean Christmas. It’s Federal Budget time. The Federal Budget that was announced on Tuesday has been labelled as ‘business-focused’, introducing a bulk of tax cuts, asset write-offs and employment incentives. Some key elements of Josh Frydenberg’s announcement included a further $98 billion in …
A budget like no other… It’s the event of the year that has economists, accountants and investors more excited than a kid at Christmas. This week on Tuesday the 6 of October, Josh Frydenburg will announce the budget that is being predicted to be the worst budget deficit since the end of World War 2. …
So what do the new unemployment figures tell us about the Australian workforce? As some state borders begin to partially open and COVID numbers continue to decline, new figures have been released by the ABS. The slowing government funding support exposes which states are still stuck in limbo as they await the arrival of their …
Unemployment goes down… Yay!? Sorry could you repeat that, did the ABS just say unemployment has decreased? Believe it or not, the ABS figures for national unemployment levels in August saw a fall from 7.5% to 6.8%. The result is a good start but certainly not one to celebrate, considering that unemployment at pre-covid levels …
Officially in a recession Talk about finally saying what everyone was thinking! As of last week, data from the Australian Bureau of Statistics (ABS) revealed that in the three months between April and June, the economy suffered a contraction in GDP of 7%. This consequently translates to the largest quarterly fall in GDP since the …
