While the government fended off questions about whether it commissioned a review into negative gearing, a Senate inquiry into home ownership turned its attention to the home loan serviceability buffer, looking at whether the current setting is too stringent and is unnecessarily locking people out of homeownership. The banks at the inquiry have expressed diverging … Read more
In the past year, the price of beans has increased by 56 per cent, hitting a 13-year high of $US2.60 per pound. Joe Taweel from the Australian Coffee Traders Association, says the sector is facing a multitude of challenges. The world’s largest arabica bean producer Brazil is going through the driest season since 1981 with … Read more
Motorists can expect further reprieve at the petrol bowser with analysts predicting continued falls in the price of oil and thereby petrol. For years, China has been the single biggest driver of oil demand expansion as its economy rapidly grows. But this month, both the Organization of the Petroleum Exporting Countries (OPEC) and the International … Read more
Corelogic’s Head of Research Eliza Owen says the property sector is generally on the side of buyers because there are a lot of people looking to sell. She says weak economic conditions, the high cost of living, high borrowing charge rates and low household savings are all combining to constrain affordability. She says in the … Read more
A major fashion retail consolidation is looming in Australia, as Myer considers buying Solomon Lew’s Premier capital’s clothing enterprise. The merger involves brands Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. Retail analyst Geoff Dart says the deal makes sense for the 124-year-old department store chain, which has been struggling to appeal to younger … Read more
Investors may have certainty that US rate cuts are starting in September, but it’s unclear what economic conditions those cuts will bring. Investors are closely watching every data release and communication from central banks for a sense of clarity. The VIX Index has hit one month high. Global strategist at Rabobank, Michael Every says investors … Read more
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
Wesfarmers chief executive officer Rob Scott says it’s been a challenging year in the retail space and he hopes the stage 3 levy cuts will provide a bit of relief to households under pressure from higher home loan repayments and soaring rents. He spoke to The enterprise after the firm, which owns Kmart, Target and … Read more
Labelling on food you buy at the supermarket is about to get overhauled. Leading food manufacturers could soon be subject to mandatory health star ratings, more onerous labelling on packaged products and restrictions on marketing, especially to infants, under federal government changes. Unlike several other countries, Australia currently has a voluntary health star rating system … Read more