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
The Commonwealth economic organization says fears about borrowers falling off the fixed rate property loan cliff have largely been averted as households find work arounds in the face of higher finance charge rates. The bulk of CBA’s remaining fixed rate loans rolled on to variable rates in September last year. The Commonwealth economic organization says … Read more
The latest annual inflation data shows the cost of coverage rose 14 per cent in the 12 months to June. The impacts of climate change, smarter cars and costly repairs are part of the problem. While Australians might feel like premiums are too high, the companies which provide the cover are subsidising policies from capital … Read more
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
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