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Economy
Should the UK Government Extend Furlough Scheme to Save Businesses?
November 01, 2020 10:17 AM AEDT| By Team Kalkine MediaThe UK government’s coronavirus job retention scheme, which was announced in March 2020, will end on Saturday. This would close the first phase of the UK’s economic response to the pandemic. The scheme allowed all UK employers with empl.....
Australian Economic Recovery Witnesses Robust Demand in Essential Services Sectors
November 01, 2020 01:54 AM AEDT| By Kunal SawhneyThe path to economic recovery is not an easy one for Australia or for any country for that matter. As there is no treatment available for coronavirus infection, people need to follow social distancing and strict hygiene norms. Meanwhile, the g.....
Is Cash rate to fall further in November? A pain point for retirees
October 31, 2020 01:50 AM AEDT| By Kunal SawhneySpeculations are rife about further cash rate cuts by the RBA. The anticipation is a sigh of relief for mortgage loan borrowers and consumers, while troublesome for financial system and retirees. People with investments and deposits are struggling .....
UK could enter a double dip recession as IMF lowers growth forecast
October 30, 2020 10:45 PM AEDT| By Hina ChowdharyThe International Monetary Fund (IMF) has downgraded its forecast for the UK economy to a contraction of more than 10 per cent for the year 2020, as the nation continues to struggle with the second wave of the coronavirus pandemic. It also projecte.....
Leaked Report says UK Could See More 85,000 COVID-19 Deaths in Next Few Months
October 30, 2020 10:42 PM AEDT| By Kunal SawhneyThe UK could see more than 85,000 deaths during the second wave of coronavirus, a leaked government advice shows. Government data shows that there were 23,065 new cases of COVID-19 on Thursday, and in the last one week there were 154,873 cases, whi.....
Resurge In Covid-19 Cases Dents Confidence Of Small Businesses In Canada
October 30, 2020 08:26 PM AEDT| By Team Kalkine MediaWith a rapid resurgence in Covid-19 cases, business confidence of small business entrepreneurs in Canada fell by nearly 6 index points, to land at a five-month low of 53.3 on the Canadian Federation of Independent Business (CFIB)’s Business B.....
Negative official rates and FLP a downer for bank profits
October 30, 2020 07:24 PM AEDT| By Team Kalkine MediaLast month, in September, RBNZ (Reserve Bank of New Zealand) announced that the term funding for the FLP (Funding for Lending Programme) would be ready by the end of 2020 before it cuts OCR (Official Rate Cut) prior to March 2021, as there was a ne.....
RBA releases brand new 100 dollar note into circulation
October 30, 2020 03:13 PM AEDT| By Team Kalkine MediaAs part of the Next Generation Banknote program, the Reserve Bank of Australia released the new $100 banknote into general circulation on 29 October 2020. To protect the new note from counterfeiting, the central bank has loaded it with innovative s.....
ATO Warns Companies Denting Stimulus Spirit to Pay High Dividends & Executive Bonuses
October 30, 2020 02:59 PM AEDT| By Team Kalkine MediaThe Australian Taxation Office (ATO) has warned companies against using loopholes to exploit tax concessions. While delivering a speech on Thursday, the second commissioner for client engagement, Jeremy Hirschhorn warned the companies against using.....
UK’s Car Production for September 2020 Records Lowest In 25 Years
October 30, 2020 02:52 AM AEDT| By Kunal SawhneyThe car production in the UK has fallen by 5% in September as compared with the same month in 2019. This is the worst production number since 1995, according to the Society of Motor Manufacturers and Traders (SMMT). So, breaking it up, car plants p.....
Bank of Canada Maintains Policy Rate to Achieve 2% Inflation Target
October 30, 2020 02:16 AM AEDT| By Team Kalkine MediaThe Bank of Canada announced that it will keep its overnight rate steady at 0.25 per cent until the inflation target of 2 per cent is achieved, which is unlikely before 2023, it added. The bank rate will be 0.5 per cent and the deposit rate.....
British retail sales drop at the sharpest pace since June
October 29, 2020 10:23 PM AEDT| By Team Kalkine MediaThe business environment is going through a rough phase with October witnessing a mixed bag of commerce activities. Prices in British shops continued to slide this month due to fierce competition among retailers than in September, which means that .....
Six NZ banks to start trial of regional banking hub in November
October 29, 2020 07:29 PM AEDT| By Team Kalkine MediaAs more and more customers shift to online banking, banks have been shutting their branches in small regional cities, adding to concerns that getting cash could become difficult in certain regions. But a consortium of banks has come up with a prop.....
Stargaze this weekend, The Mount John Summit reopens
October 29, 2020 03:15 PM AEDT| By Team Kalkine MediaTekapo tourist attraction the Mount John Summit Experience has reopened from Thursday, October 29. Mount John Observatory tours are famous for stargazing and are finally welcoming astronomy enthusiasts seven months after it was closed due to the CO.....
CPI Rises 1.6% in Q3 2020 as Free Childcare Policy Ends, Fuel Prices rise
October 28, 2020 03:19 PM AEDT| By Team Kalkine MediaFollowing the conclusion of free childcare programin mid-July 2020, Australia’s Consumer Price Index (CPI) has marked an uptick of 1.6 per cent in the 2020 September quarter. The latest figures from the Australian Bureau of Statistics (ABS) a.....
ASX Retail companies set to embrace softer restrictions in Victoria
October 27, 2020 05:54 PM AEDT| By Team Kalkine MediaVictoria has been under hard lockdown restrictions for the second time since early July this year. Melbourne, the state’s capital, is an economically important region and has been shut for almost four months now. Economists have been of the .....
Does RBA rate cut in November seem inevitable now?
October 26, 2020 07:32 PM AEDT| By Team Kalkine MediaThe coronavirus pandemic has made a deep cut in the financial robustness of the economies and businesses. By now, it has been made clear by the central banks across the globe that they are willing to go beyond the lines to save and revive their eco.....
Is New Zealand ready for more stimulus? Inflation data says yes, while property prices say otherwise
October 26, 2020 12:11 AM AEDT| By Team Kalkine MediaThe annual inflation rate surprisingly slowed in Q3, fueling prospects of further stimulus by the Reserve Bank to accelerate the economy. CPI is a measure of inflation for NZ households and records changes in the prices of goods and services. As .....
No-deal Brexit: Imported cars could become dearer by £1,900
October 25, 2020 04:20 PM AEDT| By Team Kalkine MediaThe British car industry faces a greater challenge when the EU common area regulation expires on 31 December 2020. The society of motor manufacturers and traders (SMMT) in the United Kingdom has stated that there will be an average increase of &pou.....
PMI indicates a flattening recovery for the UK economy
October 24, 2020 06:56 PM AEDT| By Team Kalkine MediaThe UK IHS Markit flash PMI survey for October 2020 revealed that the economic recovery seen in the earlier months has faded away as the coronavirus cases spike up in the UK. The services sector which has a significant share in the nation&.....
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