00:00 – Intro 03:58 – Interview on lender of Japan raising finance charge rates 08:57 – Effects for countries that trade with Japan The Reserve lender has left finance charge rates on hold amid signs that development in the economy has dramatically slowed down following 13 finance charge rate rises since May 2022. Subscribe: http://ab.co/1svxLVE … Read more
Research by PEXA found more than one in four properties purchased in NSW, Queensland and Victoria last year were bought without a property loan, often by older, retired and ‘asset-rich’ Australians. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-13/quarter-of-properties-purchased-with-cash-2023-nsw-vic-qld/103576718 The research found that $454.7 billion worth of residential property was purchased in the eastern states in 2023, … Read more
Bitcoin has soared to a new high, reaching $US69,000 before plunging by more than 14 per cent to a daily low. The rise of bitcoin has been meteoric, up by about 50 per cent in the last month. Its previous peak was in November 2021, before it crashed in a sector meltdown the following year. … Read more
Australia has experienced the biggest dive in living standards in half a century. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-06/gdp-december-quarter-2023-meets-low-expectations/103553062 The nation’s economy grew just 0.2 per cent over the final three months of 2023, and 1.5 per cent over the year, according to the Australian Bureau of Statistics National Accounts. If it wasn’t for population … Read more
The Australian share sector has hit new several record highs since the year began. That’s partly because Australia’s largest companies have been reporting better-than-expected earnings, despite their customers struggling with cost-of-living pressures and higher loan charge rates. David Chau takes a look at the winners and losers this earnings season and the risks around the … Read more
Australians are losing nearly a billion dollars a year in card surcharges, as businesses pass on the cost of electronic transactions. To cut fees, the Reserve money institution wants payments processed through the cheapest network, known as least-cost routing, but the take-up has been slow. RBA governor Michele Bullock has threatened to mandate LCR if … Read more
From airlines to retailers to banks and breweries, the gender pay gaps at Australia’s biggest companies have been revealed for the first time. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-02-27/australia-gender-pay-data-revealed-for-first-time/103487530 Some of the biggest and most famous brands in the nation are revealed to have substantial gaps, some paying women, on average, less than 50 cents … Read more
The Commonwealth lender has reported an 8 per cent drop in net profit in its half-year results, with chief executive officer Matt Comyn warning the financial strain hitting customers and the lender’s bottom line will continue through the year. He also says he expects to see an increase in bad loans and that downside risks … Read more
Cameron McIntyre, chief executive of CAR Group, says the local car sector is holding up well despite higher finance charge rates. Subscribe: http://ab.co/1svxLVE He says the fuel efficiency standards will drive up car prices and demand for EVs will grow. ABC News provides around the clock coverage of news events as they break in Australia … Read more
The Reserve lender has left borrowing charge rates on hold at a 12-year high after inflation fell by more than expected towards the end of 2023. It means the cash rate remains at 4.35 per cent. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-02-06/rba-board-keeps-cash-rate-steady-february-2024/103431110 Most economists are predicting a rate cut this year. But the RBA says … Read more