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Economy
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.....
BoE Governor Warns A No-deal Brexit Would Cost More Than Covid-19
November 26, 2020 04:18 AM AEDT| By Kunal SawhneyThe UK could see a bigger economic slump than the coronavirus pandemic has caused if Britain decides to move ahead without a trade deal with the European Union (EU), Bank of England (BoE) Governor Andrew Bailey has cautioned. While addressing the .....
Sunak’s spending review 2020 at a glance
November 26, 2020 04:14 AM AEDT| By Team Kalkine MediaThe UK Chancellor Rishi Sunak released the public spending plan on Wednesday 24 November, setting out the government’s allocations to different services and departments. The review prioritised the nation’s response to Covid-19 w.....
How will a change in the Capital Gains Tax regime benefit the government
November 26, 2020 02:23 AM AEDT| By Kunal SawhneyThe United Kingdom could be moving into a new Capital Gains Tax regime where these taxes can double up from their current levels, according to the Office for Tax Simplification (OTS). UK Chancellor Rishi Sunak in July had asked the office to review.....
How prepared is the UK auto sector for a no-deal Brexit?
November 26, 2020 12:21 AM AEDT| By Hina ChowdharyWith Brexit negotiations reaching the final rounds, the UK automotive industry has recently submitted a petition for a zero-tariff trade deal. The call came after a new survey conducted by the Society of Motor Manufacturers and Traders (SMMT) stated...
NZ government approaches RBNZ to deal with skyrocketing housing prices
November 26, 2020 12:10 AM AEDT| By Kunal SawhneyNZ’s housing market is booming when the economy has suffered the biggest recession since the Great Depression (1929-1933), coronavirus causing border closure and rising unemployment. House prices have risen to record highs which were expected.....
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Is Canada’s Banking System Resilient After 8 Months Of COVID?
November 25, 2020 05:40 PM AEDT| By Team Kalkine MediaThe onset of the COVID‑19 pandemic earlier this year triggered major concerns among central banks all around the world. The outbreak of a pandemic at this level and subsequent governments measures to contain its spread would weigh down on countri...
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RBNZ confirms to reintroduce LVRs next year to keep a check on rising housing prices
November 25, 2020 03:55 PM AEDT| By Team Kalkine MediaLately, house prices have been soaring in NZ. RBNZ is being held liable for it, as the central bank continues to print money to pull the economy out of the COVID-19 induced recession. Finance Minister Grant Robertson had written to Adrian Orr, RBNZ...
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