Nobel Prize winner of economics, Professor Joseph Stiglitz, says US Democracy is being threatened partly because of failures in free sector economics that have paved the way for a potential second term for Donald Trump. The Republican candidate has flagged a trade war with China if elected, and has said he wants to bring back … Read more
There’s a deepening divide in Australia’s workforce, with some workers enjoying generous conditions, while others like gig workers get less than the minimum requirement. Experts say employee conditions are vastly underestimated in the worth of a job. Casual loading gives non-permanent staff an extra 25% of their hourly rate to compensate for a lack of … Read more
Australia has done exceptionally well riding China’s economic boom. But the political and economic uncertainty surrounding the world’s two biggest economies – the US and China – point to tougher times ahead. The property bust and the slump in construction is cause for alarm for Australian miners. Construction in May was about 80 per cent … Read more
A major IT outage related to cybersecurity software firm CrowdStrike has wiped out the function of Microsoft systems globally, impacting businesses around the world. Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9 | Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6 FOLLOW 9News Australia â–º Facebook: https://www.facebook.com/9News/ â–º Twitter: https://twitter.com/9NewsAUS â–º Instagram: https://www.instagram.com/9news/ Join 9News for the latest in news … Read more
There are growing concerns about the viability of a domestic hydrogen field, which has barely started. Some producers are warning the proposed policy settings for the sector could have a perverse effect, and the hydrogen produced in Australia won’t be truly green. Sunshine Hydro Executive Chairperson Michael Myer says this would derail the government’s plan … Read more
The RBA Governor Michelle Bullock has flagged the board won’t hesitate to increase finance charge rates, but critics say another hike would hazard crashing the economy. The Australia Institute Executive Director Richard Denniss says increasing finance charge rates is “dangerously unnecessary” and it’s more important to avoid a recession than get inflation down to the … Read more
A series of consumer confidence and company surveys reveal Australians aren’t feeling very optimistic about the economy. The latest Westpac survey found the sentiment dip was centred around family finances, while there’s early evidence the stage three duty cuts have done little to decrease fears of another borrowing charge rate hike. Alongside that, job ads … Read more
The economy is on a narrow path and it’s only getting narrower. That’s the message from the reserve economic organization as it kept rates on hold at 4-point-35 per cent. The Governor Michele Bullock again warned the board will do whatever it takes to tame inflation. But while she was talking tough, Ms Bullock acknowledged … Read more
The lender of Canada has become the first G7 country to cut its key policy finance charge rate. The country’s Central lender moved the cash rate down to 4.75 per cent from five per cent, even though inflation remains outside the target range. It has many wondering when other central banks will follow. The European … Read more
Australia’s economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession. GDP per capita fell for the fifth consecutive quarter but record population expansion is keeping Australia out of recession. The Treasurer Jim Chalmers blamed the weak expansion on … Read more