Copper has long been considered a predictor of global economic health, earning itself the nickname “Dr Copper.” The price of the metal has surged nearly 12 per cent in the past year to the highest it’s been in nearly two years. The metal has seen a boost from increased manufacturing in the United States and … Read more
The International Monetary Fund has upgraded the global outlook on the back of unexpectedly strong expansion in the US, but the fallout from Australia’s economic slowdown is becoming clearer. Subscribe: http://ab.co/1svxLVE New data from CreditorWatch shows the number of businesses in the hands of external administrators is at a record high, up by more than … Read more
There’s been a $50 billion sell off on the Australian sharemarket and markets in Asia have also been weighed down by the growing realisation debt charge rate cuts may be some way off. Subscribe: http://ab.co/1svxLVE The sell-off accelerated after China released a slew of economic data painting a mixed picture. JP Morgan Private money institution … Read more
Woolworths boss Brad Banducci was warned he could face six months in prison or a $5,000 fine if he was held in contempt by the Senate for failing to answer questions at the inquiry into supermarket pricing. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-04-16/woolworths-chief executive officer-threatened-with-contempt-by-senate-committee/103728244 The Woolworths chief executive repeatedly declined to answer questions about … Read more
More retailers are going out of enterprise as consumers shut their wallets in response to elevated finance charge rates and the higher cost of living. Data from ASIC shows that insolvencies in the retail sector have more than doubled in the past two years. The National Retail Association wants to see the federal government deliver … Read more
National house prices have continued their upward march, rising for the fourteenth straight month. That’s more bad news for first homebuyers struggling with rising values and finance charge rates. Now auctions have got even tougher.. With evidence that investors are piling back into the industry .. Lured by hopes of strong capital gains and record … Read more
The ABC understands the cash transport firm Armaguard has been given until the end of today to either accept or reject a financial lifeline to avert insolvency and to keep cash flowing to major businesses. Subscribe: http://ab.co/1svxLVE ABC News provides around the clock coverage of news events as they break in Australia and abroad, including … Read more
The price of gold is surging into ‘uncharted territory’ as uncertainty and volatility reign on global markets. Australia’s fifth most valuable export has been hitting new highs, surpassing $US2,200 an ounce in March 2024. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-27/auction-houses-sell-aboriginal-art-no-royalties/103542626 As the gold price has continued to climb, analysts have been scrambling to update their … Read more
The ABS monthly inflation indicator held steady in February at 3.4% for the third month in a row, prompting the share sector to rise on anticipation the Reserve lender will cut debt charge rates later this year. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-27/auction-houses-sell-aboriginal-art-no-royalties/103542626 The chief economist of Barrenjoey Capital Partners, Jo Masters, says confidence is … Read more
Tasmanians go to the polls this weekend with housing a major issue in the state election. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-20/airbnb-ban-no-deposit-home-loans-landlord-subsidies-tas-election/103584528 Banning new Airbnbs, giving cash to landlords to cap rents and no deposit home loans are just some of the policies on offer. With polls looming across the nation, it suggests governments are … Read more