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Economy
UK and EU to resume trade talks in London
November 28, 2020 08:22 PM AEDT| By Kunal SawhneyBritain and the European Union will be resuming face to face trade talks in London today, as confirmed by David Frost, chief Brexit negotiator for the UK. Frost said that he looked forward to welcoming Michel Barnier, chief negotiator, EU. The confir...
How Is BoC's Bond Buying Program Helping the Economy?
November 28, 2020 06:07 PM AEDT| By Team Kalkine MediaBuying bonds from the government is helping Bank of Canada maintain a low borrowing cost in the country, Bank of Canada Governor Tiff Macklem said at a recent event. Mr Macklem, in a statement before the House of Commons’ finance standing co.....
How A Delay in Brexit Decision Is Going to Impact UK Financial Services
November 28, 2020 03:14 AM AEDT| By Team Kalkine MediaThe ongoing transition process of Brexit, where the UK is all set to exit the European Union (EU) on 31 December, surrounds a wide range of business affairs that are required to be dealt with priority as the deadline is just a month away. The Boris J...
Canada's Payroll Employment Up 2% in September: What More Does Latest Report Show?
November 28, 2020 12:14 AM AEDT| By Kunal SawhneyA recent study by Statistics Canada has shown that Canada’s payroll employment grew by 337,500, or 2.2 per cent, in the month of September as the lockdown restrictions eased and the economy continued to reopen in phases. However, the st.....
Royal Bank of Scotland Warns Online Selling Scams Could Peak on Black Friday
November 27, 2020 08:47 PM AEDT| By Team Kalkine MediaWith the increase in online commerce in the last few months of pandemic, the frauds and scams are on the rise in the country. Several banks have been receiving complaints from their customers that they have bought and pre-paid for a product online .....
CMA To Restrict Powers of US Tech Giants Google and Facebook in the UK
November 27, 2020 07:01 PM AEDT| By Hina ChowdharyIn a bid to bring a level playing field for smaller firms and curb the unfair market for consumers, the UK is going to impose a new competition regime in 2021 that will restrict the power of the tech giants such as Google and Facebook. The new cod.....
Vestas, Global Power Score A 328 MW Deal for 2 Wind Projects
November 27, 2020 06:59 PM AEDT| By Kunal SawhneyVestas has joined hands with Global Power Generation to sign a 328 MW deal for two wind projects in Victoria, Australia. Image Source: © Kalkine Group 2020 Vestas is the worldwide partner for energy industry on sustainable energy solutions.....
UK to replace RPI with CPIH as a measure of inflation from 2030
November 27, 2020 05:55 PM AEDT| By Kunal SawhneyBritain has finally decided to bring in a major reform in its financial system. It has been decided that the Retail Price Index, an inflation measure that has been in use in the country since 1947, will finally be replaced with the Consumer Price...
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Australia’s Treasury Wine takes a spill as China imposes tariffs
November 27, 2020 05:19 PM AEDT| By Hina ChowdharyTreasury Wine Estates Limited (ASX:TWE) has requested the exchanges for a trading halt today over the provisional anti-dumping measures imposed by China on Australian wine imports. The Company is currently reviewing the details of the provisional ant...
NZ trade surplus Highest in ~3 decades as Imports Plunge down
November 27, 2020 02:53 PM AEDT| By Team Kalkine MediaNew Zealand’s trade surplus data for the year ended October 2020 has shown a surplus of NZD 2.2 billion, a figure not seen since 1992. This came as imports declined due to the pandemic related restrictions. Increase in exports over the course.....
Proposed NSW Property Tax Regime: Stamp Duty Dilemma
November 27, 2020 02:17 PM AEDT| By Kunal SawhneyNew South Wales treasurer Dominic Perrottet recently announced the proposal to move towards a new property tax regime. This regime would allow taxpayers to choose between paying a lump sum stamp duty while purchasing a property or paying an annual .....
Sovereign Hill Launches 20-Year Master Plan to Celebrate Golden Jubilee
November 27, 2020 02:09 PM AEDT| By Team Kalkine MediaThe open-air museum in Golden Point and the historical landmark, Sovereign Hill, has unveiled a master plan for the next two decades. The 20-year Master Plan includes four phases to be delivered between 2021 and 2030. Gold will continue to play a cr...
Victoria Emerges as the Warrior Against Corona War
November 27, 2020 01:38 PM AEDT| By Team Kalkine MediaVictoria seems to have emerged from the disastrous second coronavirus wave. The state has recorded no new coronavirus cases for the 28th consecutive day. According to the epidemiologists, Victoria has met the official definition of COVID-19 eradic.....
Covid Christmas rules: how will they impact British hospitality and retail?
November 26, 2020 09:37 PM AEDT| By Kunal SawhneyPrime Minister Boris Johnson has allowed families to mix up and celebrate the festive period during 23 to 27 December in the form of what he called a ‘Christmas bubble’. Up to three households are allowed to meet each other and .....
Covid-19: Inadequate Supply of PPE Cost Taxpayers Extra £10billion
November 26, 2020 09:29 PM AEDT| By Hina ChowdharyThe United Kingdom has spent a whopping £10 billion more for personal protective equipment (PPE) kits because of a heightened global demand and its failure to procure and stockpile before the pandemic, a report published by the National Audit.....
UK Car Production Plummets 18.2 Per Cent in October
November 26, 2020 08:16 PM AEDT| By Kunal SawhneyThe car production in the UK has fallen by 18.2 per cent in October as the coronavirus spread, and the frequent lockdowns continue to impact the market. According to the Society of Motor Manufacturers and Traders (SMMT), around 110,179 cars were ma.....
NZ posts record trade surplus as imports slump
November 26, 2020 04:16 PM AEDT| By Team Kalkine MediaNZ reported its biggest annual trade surplus in 28 years as coronavirus led to a severe drop in imports. The official numbers revealed that NZ recorded a surplus of $2.2 billion for the year ended October due to a 10% slump in imports during the time...
Veris Limited (ASX:VRS) Bags Pipeline Contract From APA Group
November 26, 2020 02:53 PM AEDT| By Hina ChowdharyVeris Limited (ASX:VRS) has bagged a service contract from APA Group Limited (ASX:APA) for providing survey and associated services for the new Northern Goldfields Interconnect (NGI) pipeline in WA. The contract offered by APA comes under $460 milli...
APRA releases superannuation data for September 2020
November 26, 2020 01:40 PM AEDT| By Kunal SawhneyThe Australian Prudential Regulation Authority (APRA) has released the superannuation statistics for September 2020. Over the year to September 2020, the assets under super products fell 1.6% to $2,891.3 billion compared to $2,939.7 billion. From .....
Adrian Orr to discuss tax alterations with government in housing clash
November 26, 2020 01:19 PM AEDT| By Hina ChowdharyAdrian Orr Governor of RBNZ had welcomed the letter written by the Finance Minister Grant Robertson, which asked the central bank to consider house prices alongside inflation and employment while formulating the monetary policy. Mr Orr has respond.....