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Economy
RBA’s Debelle says climate change threatens Australia’s carbon-intensive industries
October 13, 2021 08:20 PM PDT| By AshishHighlights The transitioning of global economies away from fossil fuel has the potential to threaten businesses in Australia’s carbon-intensive industries, RBA’s deputy governor Guy Debelle said. Debelle said that the likely impacts.....
Fed signals bond-purchase taper by mid-Nov as inflation worries weigh
October 13, 2021 06:53 PM PDT| By Sanjeeb BaruahThe Federal Reserve signalled on Wednesday it could start withdrawing its covid-era stimulus support by mid-November as a growing number of its policymakers felt the bank has reached its economic goals and worried that inflation might stay longer. .....
US inflation exceeds forecast; food, rent, cars get more expensive
October 13, 2021 11:51 AM PDT| By Sanjeeb BaruahUS consumer prices jumped across the board in September from food, home rent, cars to electronics items, thanks to inflation which outpaced analysts’ expectations. The Labor Department’s latest Consumer Price Index (CPI) figures are li.....
US job openings fall to 10.4 mn, voluntary quits surge in August
October 12, 2021 10:57 AM PDT| By Sanjeeb BaruahHighlights Job openings dropped by 659,000 to 10.4 million in August. Voluntary resignation from jobs rose by 242,000 to 4.3 million. August saw the biggest drop in hirings in eight months. A record number of Americans have quit their job.....
Can nuclear power help UK meet its energy demands?
October 12, 2021 04:49 AM PDT| By Priya BhandariContinuous increase in gas prices, rising energy bills, global energy shortages and an ambitious goal to have net zero carbon by 2050 have fueled the debate whether the UK should opt for nuclear energy. The Boris Johnson is in a tizzy with the sky.....
How can CO2 supply deal benefit UK businesses?
October 12, 2021 01:55 AM PDT| By Suhita PoddarHighlights The Carbon dioxide industry and the UK government struck a supply deal on Monday to ensure uninterrupted CO2 supply. Businesses can now get CO2 supply at a fixed price until at least January next year. US-owned CF Fertilisers, which.....
UK energy crisis: Pure Plant, other firms going bust
October 12, 2021 12:36 AM PDT| By Rishika RainaHighlights BP-backed energy supplier Pure Planet may join the list of energy companies going bust. Energy regulator Ofgem is responsible for selecting the new suppliers for customers of the collapsing energy firms. Around 10 energy firms have .....
Know about Australia’s new low-cost airline set for early 2022 launch
October 11, 2021 03:49 PM PDT| By AshishAustralia is preparing to launch its new low-cost domestic airline, Bonza, in early 2022 amid expectations of a boom in the air travel sector in a post-COVID-19 pandemic world. Backed by Miami-based private investment firm 777 Partners, Bonza is pr.....
Is there a massive global energy crisis in the offing?
October 11, 2021 02:14 AM PDT| By Priya BhandariHighlights The sudden surge in the energy demand after lows hit during the pandemic has increased the prices of oil, gas, and coal all over the world. The ongoing supply restrictions from OPEC countries and global transport bottlenecks have com.....
How fraud affects you financially
October 09, 2021 07:00 PM PDT| By Priya BhandariHighlights In H1 2021, scammers stole around £753.9 million (US $1.03 billion), up by 30% as compared with H1 2020. For the first time, the losses in authorised push payment (APP) fraud stood at £355.3 million. According to survey,.....
Where does UK get its gas supply from?
October 09, 2021 06:25 AM PDT| By Priya BhandariHighlights On Wednesday, wholesale gas prices surged by 37% to a record high, although they dropped back after Russian President Vladimir Putin entered to clam the market. 40% of the UK’s gas is supplied from fields in Irish Sea and the N.....
Japan set for polls; will it affect Japan-Australia relations?
October 09, 2021 06:22 AM PDT| By ManishaJapan elected 64-year-old Fumio Kishida as its new prime minister through a parliamentary vote on 4 October 2021. The leader of the ruling Liberal Democratic Party (LDP) and former foreign minister will now be serving as the 100th prime minister of.....
How are businesses handling UK’s rising cost pressures?
October 07, 2021 11:25 PM PDT| By Suhita PoddarThe UK’s government statistics body, the Office for National Statistics (ONS), has released a business survey result, according to which more and more British companies are increasingly passing on the rise in costs to their customers. About .....
NSW premier remodels reopening plan; sharpens focus on economic recovery
October 07, 2021 06:45 PM PDT| By ManishaDominic Perrottet, the newly elected premier of New South Wales, has committed to keeping people safe while opening up the economy, and securing recovery. The state government has decided to unlock the state on 11 October 2021, after having achiev.....
Dilemma of UK shoppers: Time to Shop or time to stop?
October 07, 2021 07:41 AM PDT| By Manu ShankarThe UK shoppers are hitting the shops once again and this was reflected from a recent report by the Office for National Statistics. Britons are venturing out after most restrictions were lifted and spendings have increased compared to last week, th.....
TWITCH Streamers Hack Leaves Everyone Clueless
October 07, 2021 07:29 AM PDT| By Manu ShankarTWITCH experienced a massive data breach on Wednesday, which exposed the sensitive source code and details on payments to content creators on Twitch. The hacker posted a link with 125 gigabytes of data to 4Chan, the internet messaging board support.....
Has Brexit affected UK’s passport power?
October 07, 2021 01:17 AM PDT| By Priya BhandariHighlights Japan and Singapore topped the list of Henley Passport Index that uses data from the international Air Travel Association. The UK secured seventh place with Greece, Malta, the US, and Norway with ability to visit 185 countries. In 2.....
Biometric passport: UK passengers stuck at airport for hours
October 06, 2021 07:27 AM PDT| By Manu ShankarUK airline passengers reported delays of up to four hours across prominent UK airports following biometric passport gates failure. Travellers in most UK airports, such as Heathrow, Gatwick and Edinburgh, had to wait in long queues for hours at the .....
RBNZ hikes OCR by 0.50%, thereby decreasing monetary stimulus
October 06, 2021 02:15 AM PDT| By Jasmine AnandHighlights New Zealand’s Central Bank has of late declared raising the OCR by 0.25 bps. The decision was taken to decrease the monetary stimulus pumped into the economy, as the NZ economy is on track to recovery. Many economists were exp.....
Australia’s August trade surplus rises to record high, what was the major driver?
October 05, 2021 07:49 PM PDT| By AshishHighlights Australia’s trade surplus rose to a record level in August, clearly beating market forecasts. According to Australian Bureau of Statistics (ABS) data, the merchandise trade surplus swelled to AU$15.1 billion (US$11 billion) in .....
