The Chinese property crisis has led to stock piles of iron ore and finished steel products, which has sent the price of Austalia’s biggest export falling. Senior Equities adviser at Bell Potter Securities, Giuliano Sala Tenna says he’s expecting to see a correction in the industry as the price comes down closer $US80 per tonne. … Read more
Australia’s multi-speed property industry results in a confusing start to the spring selling season. Property listings are up, but demand is down, leading to a slow start in Australia’s largest cities, Sydney and Melbourne. CoreLogic’s data reveals prices have continued to rise in August, with home values increasing in Sydney (+0.3 per cent), Brisbane (+1.1 … Read more
00:00 The RBA Governor Michele Bullock says financial markets are a little bit ahead of themselves with their expectations of when the central lender will cut rates and the board doesn’t believe Australia is heading for a recession. The RBA kept borrowing charge rates on hold at 4.35 per cent. The Governor said no rate … Read more
$100 billion has been wiped off the S&P/ASX 200 in a single session and there are fears the losses will continue. It’s the second consecutive sell-off, with losses were spread across all sectors, but technology, financial, energy and real estate shares were hardest hit. Bitcoin also plunged. Wilson Asset Management’s Lead investment mix Manager, Matthew … 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
Since opening its first restaurant in Sydney 18 years ago, Guzman y Gomez has become the fastest growing fast-food chain in Australia, and boasts 210 restaurants across four countries, including the United States and Japan. GYG is gearing up to go public and intends to list on the ASX on June 20. At $22 a … Read more
The Fair Work Commission has announced Australia’s minimum wage and award wages will increase by 3.75 per cent, taking the national minimum wage to $24.10 per hour or $915.91 per week from July 1. Overall, the FWC estimates the increase to minimum and award wages will affect “about a quarter of all Australian employees”. In … Read more
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 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
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