Tag: economy
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Worst decade of Australian income growth
Australia needs to lift its productivity otherwise we may be about to experience the worst decade of national income growth in almost 50 years. Potential growth has fallen to 2.5% from 3.25%. NAB Group economists James Glenn and Riki Polygenis revealed this and say it is “below recent estimates from the Treasury and the RBA” of…
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ANZ announces 200 job cuts due to economic conditions
Two hundred ANZ employees will be saying farewell to their positions at the bank due to poor economic conditions. The Australian & New Zealand Banking Group currently has 48,896 employees and over the six months up to March, have reduced its full-time work force by 1,256. The bank advised their staff of the redundancies with cuts…
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Cash Converters in Trouble in Queensland
Cash Converters has hit another bout of difficulty with a $17 million class action lawsuit being filed against them in Brisbane this week. This follows the previous lawsuit they faced last year in New South Wales, where they were ordered to play $23 million to over 35,700 customers. The company is accused of charging interest rates…
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NSW is Australia’s strongest economy
CommSec has released its latest State of States Report, which names NSW as Australia’s top performing economy. The quarterly report analyses eight key economic factors in each state: economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements. NSW has the strongest scores on population growth, retail trade,…
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Australia 2nd Most Likely to Suffer Debt Crisis
Forbes recently released a study into which top seven countries were the most vulnerable to a debt crisis in the next 1-3 years, and we in Australia were #2 – second only to China. Australian economist Steve Keen writes for Forbes that the same financial mishaps that were the cause of the Global Financial Crisis…
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Asian tourists are spending the most
Research undertaken by the University of Technology (UTS) Business School revealed that Asian tourists visiting Sydney spend as much as 6.5 times more than other tourists. It was found that there is a huge spending capacity of Asian tourists who are in Australia as part of incentive schemes. A 2015 visitor survey from Tourism Australia…
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Global stocks enter a bear market
Australia has woken up to a bear market. On Thursday, the MSCI all-country world index closed down 20% from its recent high, putting the global share market into a bear market. In Australia, the S&P/ASX 200 index broke through a key support level of 4800, eventually falling to 4706.7 — placing the index in a…
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A Breath Of Fresh Air
Air, one of the world’s most bountiful, natural, renewable resources, is being bottled and sold to enthusiastic consumers around the world. If you are feeling slightly skeptical about this don’t worry, you’re not alone. It appears that British company Aethaer is legitimately tapping into a market that is desperate for fresh, clean air; something that is in…
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5 Things Your Business Should Consider in 2016
Plan ahead for the rest of the year and don’t let your business miss out on trends that could have potentially benefited you. Here are 5 things your business really should consider in 2016: 1. China is slowing A few years ago GDP growth was at 14% but has since halved to come in under…