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Economy
Eye on COVID recovery, Canada To Spend Billions On Transit Projects
February 11, 2021 06:30 PM AEDT| By Ipsita SarkarThe Justin Trudeau government plans to invest C$14.9 billion in public transportation projects for the next eight years that could be a major catalyst in reviving the ailing economy post-COVID-19. The funding will be provided for all public transi.....
US Consumer Prices Rise as Gasoline Cost increases
February 11, 2021 02:48 AM AEDT| By Team Kalkine MediaSource: Ksw Photographer, Shutterstock Summary US consumer prices rose by 0.3 percent in January due to rising fuel cost. Besides food and oil, prices for clothing, medical care, renting, and car insurance also increased. Gasoline prices rose...
US Consumer Sector Hopes for 2021 comeback Amid Dark Covid Cloud
February 11, 2021 02:04 AM AEDT| By Team Kalkine MediaSource: insta_photos, Shutterstock Summary More and more people buying daily essentials directly from stores as restrictions ease Stocks of consumer staples and durables see impressive gains Trend likely to continue as the pandemic situa...
Why are the UK finance tax receipts projected to drop this year?
February 10, 2021 06:59 PM AEDT| By Team Kalkine MediaA report released by the City of London Corporation has stated that the amount of tax contribution from the British financial sector for 2020-21 is uncertain due to the double blow of the pandemic and Britain’s exit from the Europea.....
Huawei Moves Court against US Designation as National Security Threat
February 10, 2021 02:59 AM AEDT| By Team Kalkine MediaSource:Worchi Zingkhai, Shutterstock Summary Huawei files lawsuit in US court to overturn national security threat designation. Company profits drop by 40 per cent following US ban. US officials accuse Huawei of spying, stealing sensitive tec...
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Corporate Canada Has Cash To Spend But COVID Is A Dampener: Report
February 09, 2021 09:36 PM AEDT| By Team Kalkine MediaBig Canadian companies have amassed large sums of money but will not spend soon because of the ongoing economic uncertainty due to the COVID-19 pandemic, say analysts at the Bank of Montreal. Many corporate houses were facing extreme challenges to.....
RBNZ reinstates lending restrictions to resolve NZ housing crisis
February 09, 2021 08:18 PM AEDT| By Team Kalkine MediaNew Zealand’s Central Bank (RBNZ) has finally intervened to find a solution to the housing market crisis. RBNZ decided to reimpose mortgage lending restrictions of pre-COVID-19 levels from March 1 and tighten them further from May 2021. This.....
Why Labour is asking Sunak to extend Covid-19 support to the businesses
February 09, 2021 06:58 PM AEDT| By Team Kalkine MediaThe Labour party has urged Chancellor of the Exchequer Rishi Sunak to extend the support for ailing companies after March, when much of it is slated to expire. The party has warned that businesses could face a £50-billion&.....
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Business confidence improves in January, conditions worsen: NAB survey
February 09, 2021 03:14 PM AEDT| By Team Kalkine MediaBusiness confidence picked up in January even as business conditions declined from record highs in December, according to a survey. The fall in business conditions was on account of the COVID-19-related breakouts in a few cities, which were ultimat.....
Australian Automotive Industry Back On Track As Vehicle Sales Pick Up
February 07, 2021 12:38 AM AEDT| By Team Kalkine MediaThe recently released data for new vehicle sales in Australia has further boosted hopes for a speedy recovery in the automotive industry. The number of new vehicles sold in the first month of the calendar year 2021 has gone up by more than .....
Canada’s December Trade Deficit Reduced To C$1.7bn As Exports Surge
February 06, 2021 08:43 PM AEDT| By Team Kalkine MediaCanada’s trade deficit reduced by half to C$1.7 billion in December 2020, compared to the previous month as exports saw steady growth, the government said on Thursday. Energy exports saw the highest growth during the period, rising by .....
US Unemployment Rate Fell 6.3% in January as Hiring Picks Up
February 06, 2021 02:44 AM AEDT| By Team Kalkine Mediaanxious on Congress pending verdict on Biden’s USD 1.9 trillion relief plan. US unemployment rate fell to 6.3 per cent in January as employers resumed hiring, but the job market would still take time to nurse back to health fully. Accordi...
UK Retail Footfall Plummets Amid the Third Lockdown
February 05, 2021 09:55 PM AEDT| By Kunal SawhneyThe lockdown 3.0 has led to a substantial decline of 76.9 per cent in the number of store visitors during January in contrast to the previous lockdown in the country. According to the UK’s apex trade association British Retail Consort.....
Be prepared for negative rates in six months: BoE tells banks
February 05, 2021 06:59 PM AEDT| By Team Kalkine MediaThe Bank of England has told the banks to be ready for negative interest rates in the next six months. The Monetary Policy Committee (MPC) has asked the Prudential Regulatory Authority, the national regulatory body for the British banks,&.....
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Key Takeaways from Governor Lowe’s Speech
February 05, 2021 04:24 PM AEDT| By Kunal SawhneyOn the 5th of February, RBA governor Phillip Lowe presented his updated outlook for the Australian economy in his opening statement to the House of Representatives Standing Committee on Economics. Governor Lowe pointed out that things have taken a .....
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December retail sales fall as shoppers tighten purse strings
February 05, 2021 03:10 PM AEDT| By Hina ChowdharyThe Australian retailers suffered a drop in sales in December as shoppers pulled back from spending. The retail sales fell 4.1 per cent in December 2020 after a rise of 7.1 per cent in the previous month, the Australian Bureau of Statistics (ABS) d.....
Positive Labor Report lifts hopes of US Economic Recovery
February 05, 2021 04:42 AM AEDT| By Team Kalkine MediaSource:wrangler, Shutterstock Summary US Labor Department reports a third consecutive decline in unemployment benefits claim. The current number is still higher than the previous figures recorded since 1967. The job market is expected t...
In A First, UK Launches Covid-19 Alternating Vaccine Study
February 05, 2021 04:35 AM AEDT| By Kunal SawhneyThe United Kingdom launched the world’s first alternating Covid-19 vaccine dose study on Thursday under which the feasibility of different vaccine shots will be examined. Under the schema of study, individuals will be administ.....
Bank of England to update the market about the negative rates today
February 04, 2021 07:14 PM AEDT| By Team Kalkine MediaWhile the Monetary Policy Committee of Bank of England (BoE) is expected to leave the bank rate unchanged in its latest announcement on Thursday, it is expected to provide an update on its negative rate project. This is the first time th.....
How Monetary Policy Decision Swayed the Australian Dollar
February 04, 2021 04:17 PM AEDT| By Team Kalkine MediaAUD/USD improved slightly on Thursday after a dip in the currency exchange rate observed on Tuesday. The highly traded pair has seen persistent declines in the US dollar over the past couple of months. Additionally, following the GME and AMC short .....
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