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Economy
Oil prices jump with hope of rising demand
December 14, 2020 07:25 PM AEDT| By Hina ChowdharyBrent crude crossed $50 a barrel last week for the first time since March this year, signalling hopes of the long-awaited rise in oil demand. The global oil industry faced a deep slump for months after the outburst of the pandemic. Demand .....
Is Australian Automotive Industry Coming Back on Track?
December 14, 2020 11:52 AM AEDT| By Team Kalkine MediaThe automotive sector, similar to most of the other sectors, has undergone a challenging time due to the unprecedented COVID-19 crisis. Lockdown restrictions heavily affected production as most of the on-site work came to a standstill. Remote worki.....
Canada’s Gen X & Millennials Have Highest Debt-To-Income Ratio
December 13, 2020 02:39 AM AEDT| By Team Kalkine MediaThe COVID-19 pandemic poses a greater threat to the economic well-being of younger households, particularly those with income earners in the millennial age group, than any other in Canada, pointed a study published on Saturday, December 12. The st.....
Weekly Economic Charter: S&P Downgrades NSW & Victoria Credit Ratings
December 13, 2020 12:00 AM AEDT| By Hina ChowdharyAlthough S&P Global Ratings recently maintained the stance that Australia’s AAA credit rating is rock solid, the rating agency has downgraded the long-term credit ratings of Victoria and New South Wales (NSW). Australia’s two econo.....
Canada’s Net Worth Grows To C$ 13.23 Trillion In Q3, Credit Borrowings Rise
December 12, 2020 10:20 PM AEDT| By Kunal SawhneyCanada’s national wealth and net foreign asset position totaled to C$ 13.23 trillion in the third quarter (Q3) of 2020, reported Statistics Canada on Friday, December 11. The total amount, aka net worth, noted a quarter-over-quarter (.....
Pound falls with rising fears of a no-deal Brexit
December 12, 2020 07:19 PM AEDT| By Team Kalkine MediaThe pound sterling dropped by 1.2 per cent against the US dollar on December 11, reaching a four-week low value of $1.31, after Boris Johnson, the UK PM announced that a no-deal Brexit appeared very likely. Both the sides, namely the UK and the...
Premiers Demand Funding Boost From Trudeau-Led Govt Amid Surging COVID Cases
December 12, 2020 01:23 AM AEDT| By Team Kalkine MediaPremiers of the 13 provinces and territories in Canada left their recent meeting with Prime Minister Justin Trudeau feeling disappointed, as per media reports. In the virtual first ministers' meeting held on Thursday, December 10, the prem.....
What is Australian media bargaining code? How will it affect Google, Facebook’s revenues
December 11, 2020 06:57 PM AEDT| By Edita Ivancevical is not sealed. After months of waiting, the ACCC (Australian Competition and Consumer Commission) has decided to force online conglomerates Google and Facebook to pay for all media content advertised on their networks. The News Media and Digi...
Adrian Orr suggests creating a new agency to address housing issues
December 11, 2020 03:24 PM AEDT| By Kunal SawhneyAdrian Orr, Governor of RBNZ, has addressed Finance Minister Grant Robertson’s suggestion for the role central bank can play in resolving housing crisis, by stating that Government should form a new housing agency to tackle the country’.....
How significant is the Singapore Trade Deal for the UK?
December 11, 2020 01:38 AM AEDT| By Team Kalkine MediaThe UK has signed a free-trade agreement (FTA) with Singapore, paving its way into the Asian market. Liz Truss, the International Trade Secretary of the UK, was in Singapore today, December 10, to strike an FTA deal that would amount to mut.....
Bank of Canada Maintains Policy Rate, Says ‘Choppy’ Growth Trajectory Ahead
December 10, 2020 08:18 PM AEDT| By Team Kalkine MediaThe Bank of Canada (BoC) once again upheld its current policy rate and ongoing quantitative easing (QE) program. In an official briefing on Wednesday, the central bank said the key interest rate will continue to be at 0.25 per cent until the 2 per ce...
Did Real Estate Agents play any role in the surging house prices?
December 10, 2020 06:53 PM AEDT| By Hina ChowdharyThe prospects of NZ economy looked grim with a lockdown imposed in the country in March and surge in coronavirus cases globally. With a rapid loss in jobs, unemployment rate was predicted to rise and housing prices were projected to fall with...
Is Australia out of recession?
December 09, 2020 05:47 PM AEDT| By Edita Ivancevichink that almost a million unemployed people suggest the crisis is still not over. The Australian economy officially showed enough evidence that it has bounced back from recent recession figures by offering a 3.3 per cent increase in overall GDP...
Confident December as Australian Consumer Sentiment Climbs to 10-Year High
December 09, 2020 03:10 PM AEDT| By Kunal SawhneyThe Westpac-Melbourne Institute Index of Consumer Sentiment marked a 10-year high after clocking 112 in December. The December figure reflects a 4.1% increase over the previous month. The index is now up 48% from the low in April 2020. .....
November Retail Sales in The UK Decline, High Street Footfall Fell By 63.9%
December 08, 2020 10:56 PM AEDT| By Kunal SawhneyThe retail footfall data published by BRC ShopperTrak for the month of November clearly shows the deep damage the industry suffered because of the second lockdown. The UK government had imposed the second lockdown from 5 November to 2 Decem.....
Who is Michael Sabia, Canada’s New Deputy Finance Minister?
December 08, 2020 07:27 PM AEDT| By Team Kalkine MediaMichael Sabia, former CEO and president of Caisse de Depot et Placement du Quebec (CDPQ), has been appointed as Canada’s new deputy finance minister, said an official statement released the prime minister’s office on Monday, Dec.....
UK government might drop key clauses in case of a Brexit deal
December 08, 2020 06:01 PM AEDT| By Team Kalkine MediaThe UK government said that it could remove those clauses in its legislation which breach the Brexit deal with the European Union. It might also review the provisions in another bill in case the talks on the Withdrawal Agreement proceed any further.....
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RBNZ begins consultation to reimpose LVRs from next year
December 08, 2020 03:52 PM AEDT| By Team Kalkine MediaOn 8 December, RBNZ announced to look for views on its plan to reinstate loan to value restrictions (LVR) on mortgage lending from March 2021. When Covid-19 struck, the LVRs were halted in April as part of a range of measures to boost the economy an...
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November NAB Business Survey Notes Above Average Confidence and Conditions
December 08, 2020 01:58 PM AEDT| By Hina ChowdharyNAB Australian Economics has released the November business survey, suggesting ‘rapid rebound in the economy’ as states are easing restrictions and borders are re-opening. Business confidence and conditions are now above average......
Homeownership rates in NZ fell to the lowest level in nearly seven decades
December 08, 2020 01:11 PM AEDT| By Team Kalkine MediaHomeownership in NZ has fallen to lowest levels since 1951 with homeownership rates striking the younger people. As per a report Housing in Aotearoa: 2020 by Stas NZ that gives a glimpse of the housing sector in NZ, about 64.5% of households were .....
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