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Economy
Will FCA’s New Measures Safeguard the Loyal Insurance Customers?
May 29, 2021 12:52 AM AEST| By AbhijeetThe Financial Conduct Authority (FCA) has come up with new rules, after years of complaints, wherein customers renewing motor and home insurances would not be paying any more than what they would have as a new payee from January next year. The FCA.....
UK Government’s £166.5 Million Cash Boost to Green Technology
May 29, 2021 12:41 AM AEST| By Team Kalkine MediaSummary The UK Government has come up with a 10-point plan for a green industrial revolution In 2018, the UK government had launched a clean growth fund to increase direct investments in clean technology and reduce GHG emissions. One of th.....
Joe Biden To Present His First Full Budget
May 29, 2021 12:34 AM AEST| By Team Kalkine MediaPresident Joe Biden is set to present his first full budget for the fiscal year 2022 today, which would give more insights into his proposed spending in major areas including education, healthcare, foreign aid and immigration policy as well as other...
Interest Rates Could Rise Next Year, Says Bank of England’s Vlieghe
May 28, 2021 07:56 PM AEST| By AbhijeetSummary If the economy continues to recover at a rapid speed, BoE might raise interest rate next year, said Gertjan Vlieghe. However, if the new coronavirus variants continue to spread the disease, unemployment could rise as the furlough scheme.....
Banks Want Government to Overhaul Mortgage Support Scheme
May 28, 2021 04:17 PM AEST| By AbhijeetSummary Building societies and banks urged the government to rethink mortgage support to help the homeowners struggling to pay mortgages. Support for Mortgage Interest, it is a loan that certain people in the UK can avail benefits that get repa.....
New Zealand’s Filled Job Numbers Hit a New High in April 2021
May 28, 2021 12:21 PM AEST| By SonalSummary Stats NZ revealed that filled jobs rose and hit a new high in April 2021. Construction, healthcare and construction were amongst the biggest drivers of the increase in filled job numbers. Filled jobs have resumed to a more upward trend.....
Canadian CBDC Would Be More Eco-friendly Than Bitcoin: Bank of Canada
May 27, 2021 07:48 PM AEST| By AnujBank of Canada Deputy Governor Timothy Lane said on Wednesday, May 27, that any central bank digital currency (CBDC) that it offers in the future would be more eco-friendly than Bitcoin and other cryptocurrencies. Mr Lane added that the central bank...
RBNZ Governor Says Housing Inflation is Temporary
May 27, 2021 03:01 PM AEST| By RomaSummary Housing prices in New Zealand could cool down soon. Reserve Bank Governor analyses the current scenario. Government efforts to control housing prices might soon be fruitful. With the housing industry have been seeing a lot of ups .....
UK To Clamp Down on Listings That Pose Challenge to National Security
May 26, 2021 11:46 PM AEST| By Suhita PoddarSummary Rishi Sunak to come up with laws for blocking companies from being listed on the LSE on the grounds of national security threat. The Chancellor of Exchequer would start deliberations on the proposals next month itself. The plan would l.....
Needle on Australia’s Property Market
May 26, 2021 08:07 PM AEST| By Team Kalkine MediaSummary Australian property prices do not appear to simmer down anytime soon, posing a threat not only to potential buyers but also to those living on rent. Regional areas have observed house values increasing to more than double due to increas.....
Countries to Take A Vow For Productive, Climate-Controlled Tomorrow
May 26, 2021 03:30 PM AEST| By RomaSummary UN Secretary General calls for a round table conference of world leaders. They will rally to focus on sustainable development. COVID-19 vaccination equity one of top priorities. In a big announcement, Antonio Guterres, the Secreta.....
No Surprises As RBNZ Keeps OCR Unchanged At 0.25%
May 26, 2021 01:53 PM AEST| By ManikaIn line with the expectations, the Reserve Bank of New Zealand (RBNZ) decided to keep the current monetary support with OCR unchanged at 0.25%. Even the Large-Scale Asset Purchase and Funding for Lending remains the same. The Monetary Po.....
GOP To Make A Counteroffer of US$1trillion To Biden's Infra Plan
May 26, 2021 12:39 PM AEST| By Team Kalkine MediaSummary President Biden is pursuing bipartisan support for the bill, which seeks to revamp the country's infrastructure, including roads, bridges, airports, and other facilities. Republican senators were confident that the new offer would be ag.....
New Zealand imports surge in April led by vehicles and crude oil
May 26, 2021 12:13 PM AEST| By SonalThe monthly trade balance of New Zealand was a surplus of $388 million in April 2021, as per the data released by Stats NZ on overseas merchandise trade. While goods exports increased 1.2% to $5.4 billion, goods imports surged 26% to $5 billion in th...
US Home Prices Surge To 15-Year High Amid Scarce Supply
May 26, 2021 09:58 AM AEST| By Team Kalkine MediaSummary Home prices in 20 major US cities have gone up due to high demand and low supply. There were 1.07 million homes on sale in March, 28.2% lower than last year’s figure. Economists say that prices will remain high due to the shortag.....
UK’s Trade with EU Drop 23% in Q1 Due to Brexit-Related Disruptions
May 26, 2021 02:45 AM AEST| By Suhita PoddarSummary The UK’s goods trade with EU nations posted a drop of 23 per cent in the first quarter of the year. Exports to Ireland suffered severe hit showing the disruption of Brexit. Trade with non-EU countries dropped by just 0.8 per cent.....
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UK Government Borrowing Hits Second-Highest April On Record
May 26, 2021 01:24 AM AEST| By Team Kalkine MediaSummary According to the institute for fiscal studies, after reaching a record high level of debt due to economic shock after the pandemic, the borrowings have begun to fall. The total debt still remains high, with a debt-to-GDP ratio of 98.5 p.....
What are expectations from RBNZ’s upcoming policy meet?
May 25, 2021 03:32 PM AEST| By SonalSummary RBNZ widely expected to leave the cash rate on hold and upgrade economic forecasts. Economic data has continued to show improvement since the last policy meeting. However, RBNZ likely to keep cautious amid downside risks to growth. .....
Where is the Australian Labour Market Headed?
May 24, 2021 03:03 PM AEST| By Team Kalkine MediaSummary The Australian unemployment rate has dropped to its lowest in a year. Speculations are rife about impending inflation and the shift to normalcy. The ABS has reported an unemployment rate of 5.5% for the month of April 2021, marking a st.....
New Zealand’s Retail spending grows 2.5% in Q1 2021
May 24, 2021 12:51 PM AEST| By SonalSummary The total retail sales volumes (seasonally adjusted) in New Zealand rose 2.5% on quarter in March 2021. Higher retail expenditure on electrical and electronic goods (+8.4%) and recreational goods (+16%) helped in improving overall spend.....