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Economy
Voting today on the US Congress $900 billion package deal
December 21, 2020 07:22 PM AEDT| By Hina ChowdharyThe congress leaders agreed upon a Covid-19 aid package deal yesterday to fight with the surging coronavirus cases in the US. Votes are likely to take place today. The $900 billion (£660 billion) aid is the second largest economic stimulus in.....
As 2020 Nears An End, What Are Emerging Signs Of Economic Recovery In Australia?
December 21, 2020 06:33 PM AEDT| By Kunal SawhneyThe Australian economy has been on its recovery path since the September 2020 quarter. Notably, statistics continue to improve with time. Current statistical releases by the ABS reveal figures that were far better than expectations, making the case.....
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Electricity Price set to fall says AEMC
December 21, 2020 04:39 PM AEDT| By Kunal SawhneyThanks to the penetration of solar rooftop panels and its integration into the national grid system, the average household electricity bills are estimated to decline going forward. Apart from better integration and accessibility provided by renewable...
COVID-19 impact: Passenger vehicle use plummets, road freight grows
December 21, 2020 02:33 PM AEDT| By Hina ChowdharyAustralia saw a sharp fall in the usage of passenger vehicles in 2020, courtesy coronavirus pandemic and natural disasters such as floods, bushfires, among others. The average distance travelled by passenger vehicles in Australia declined to 11,100.....
How COVID-19 Pandemic May Alter The Way Canadian Cities Functions
December 20, 2020 05:51 PM AEDT| By Team Kalkine MediaThe COVID-19 pandemic has kinked the way our normal lives function. People around the world went from going to work to working from home, shopping online and relying on a homebody economy to maintain the social distancing protocols. While so.....
Brexit talks enter the penultimate fortnight period, fishing rights still the key issue
December 20, 2020 05:54 AM AEDT| By Kunal SawhneyNegotiations between the UK and the EU have entered the final phase to clinch a favourable post-Brexit trade deal before 31 December, where fishing rights in British waters for EU members remains the most important issue. UK Prime Minister .....
British public spend on furlough rises to £46.4 billion
December 20, 2020 05:51 AM AEDT| By Hina ChowdharyRecent government data has revealed that the British public spending on furloughing private sector employees reached a total value of £46.4 billion ($63.0 billion) on 13 December, up from £43.0 billion in the previous month. The scheme.....
Did the COVID-19 wage subsidy fail to fulfil its desired purpose?
December 19, 2020 05:06 PM AEDT| By Team Kalkine MediaNearly $14 billion was paid out under NZ’s wage subsidy scheme that supported millions of jobs around the country during lockdown when businesses had to shut down. However, the wage subsidy costs were the single largest line item in term...
Canada’s Retail Sales Rise For 6th Month In Row, Up 0.4% In October
December 19, 2020 03:49 AM AEDT| By Kunal SawhneyCanada’s retail sales surged for the sixth month in a row in October, up by 0.4 per cent to C$ 54.6 billion, reported Statistics Canada on Friday, December 18. The sales growth, the report noted, was driven by motor vehicle and parts dealers......
UK Retail Sales Decline by 3.8 Per Cent in November Due to Lockdown, Restrictions
December 19, 2020 01:09 AM AEDT| By Hina ChowdharyThe UK’s retail sales plunged by 3.8 per cent in November in comparison with October as several stores remain closed due to the second lockdown and restrictions imposed due to the surge in coronavirus cases. The Office for National Statistic.....
UK consumer confidence jumps with the Covid-19 vaccination program
December 18, 2020 10:18 PM AEDT| By Kunal SawhneyConsumer confidence in the UK has increased modestly in December as the economic situation looks progressive on the back of the start of the Covid-19 vaccination programme in the country. The Consumer Confidence Barometer rose by seven poin.....
What is driving Sydney’s luxury housing market?
December 18, 2020 06:45 PM AEDT| By Team Kalkine MediaAustralian property market is seeing a strong revival after remaining under stress in 2020 due to the coronavirus pandemic. With national home values rising 0.4 per cent in October and 0.8 per cent in November, Australia’s luxury housing mark.....
COVID-19 impact: Weekly payroll jobs fall, accommodation and food services worst hit
December 18, 2020 04:54 PM AEDT| By Team Kalkine MediaA fall of 2 percent was seen in payroll jobs between the week that ended 14 March 2020 and the week ended 28 November this year. Coronavirus pandemic began around the same time in March 2020. However, the payroll jobs surged 0.4 percent as against .....
RBA welcomes two new women members to the Board
December 18, 2020 01:40 PM AEDT| By Team Kalkine MediaThe Federal Government has appointed two new members on the Reserve Bank of Australia Board each for a period of five years. Image source: Megapixl Treasurer Josh Frydenberg made the announcement regarding the appointments on Thursday. Ms Aliso.....
Climate Change Goal Discussed at ANZ AGM, Transition Planning Disclosure Gets ~ 29% Votes
December 18, 2020 01:18 PM AEDT| By Team Kalkine MediaAustralian and New Zealand Banking Group Limited (ASX:ANZ) has finally concluded its 2020 annual general meeting with 28.74 per cent shareholders voting in favour of transition planning disclosure. The transactional planning disclosure requires the C...
Trudeau Govt’s Plans To Make Canada Top Hydrogen Producer Released
December 18, 2020 03:19 AM AEDT| By Team Kalkine MediaCanada’s Natural Resources Minister Seamus O’Regan has just launched an “ambitious framework” which aims at making the country a top hydrogen producer in the world. The plan, called ‘Hydrogen Strategy for Canada’.....
House Prices in the UK Reach Record High in October
December 18, 2020 01:12 AM AEDT| By Hina ChowdharyThe house prices in the United Kingdom have hit a record high in 2020, according to the latest ONS data. The prices have risen by 5.4 per cent, reaching an average of £245,000 in October, which is highest since October 2016. The stamp duty s.....
UK and US in talks over a trade deal
December 17, 2020 06:57 PM AEDT| By Hina ChowdharyRobert Lighthizer, US trade representative said that the UK and the US are in talks to lower tariffs and work out a mini-trade deal. The deal is likely to see Britain lower tariffs over subsidy for aerospace businesses. America also wants i.....
ACCC sues Facebook, alleges VPN app misled users
December 17, 2020 04:57 PM AEDT| By Team Kalkine MediaThe Australian Competition and Consumer Commission (ACCC) has sued Facebook for collecting user data without their permission and knowledge. The competition regulator found a mismatch between how Facebook promoted its Onavo Protect app and how it .....
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Rise in deposits, residential assets boost household wealth to record high
December 17, 2020 03:11 PM AEDT| By Hina ChowdharyUptick in residential assets, deposits and superannuation balances pushed household wealth growth to record high in the September quarter. Total household wealth surged by 1.7 per cent to a record high of A$11,351 billion, according to the data rel.....
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