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Economy
UK reports weekly jump of 79% in Delta variant infections
June 19, 2021 01:07 AM AEST| By AbhijeetSummary PHE has reported a sizable jump in the Delta variant cases The Delta variant cases in the UK increased by as much as 79.46% in a week Notably, 84 double-jabbed people with the Delta variant have been hospitalised The rising .....
COVID-19 leaves tourism workers in dire straits
June 19, 2021 12:59 AM AEST| By Furquan MoharkanThe workers in the tourism sector have been left in the lurch as COVID-19 meted out a sucker punch to the sector, wiping off most of the tourism in the world. Even as the jobs in the sector have been recuperating in the last three quarters, unemploy...
US banks to close early on Friday for Juneteenth Holiday
June 18, 2021 12:45 PM AEST| By Team Kalkine MediaSummary Many corporate offices and organizations such as Google and the National Football League will remain closed for the day. Around 5,000 branches of JPMorgan Chase will close in the second half. Juneteenth, also celebrated as the African A.....
Is New Zealand economy at pre-covid levels?
June 18, 2021 10:02 AM AEST| By RomaSummary GDP growth shows pre-covid levels Monetary policy relaxations may occur in wake of improving economy. Domestic business did well enough to make up for international losses. GDP numbers were announced yesterday. Stats NZ anno.....
US jobless claims climb to 412,000 last week after a pause
June 18, 2021 08:57 AM AEST| By Team Kalkine MediaSummary Some states have terminated the federal pandemic benefits checks for some households to stem a labor shortage in the market. The number of jobless benefits claims rose by 37000 to 412,000 last week, the first increase following a five-w.....
US Supreme Court dismisses Trump-backed challenge to Obamacare
June 18, 2021 04:30 AM AEST| By Team Kalkine MediaSummary In a 7-2 ruling on Thursday, the Supreme Court observed the petitioners had no legal standing to file the lawsuit seeking to invalidate the Affordable Care Act. Republicans questioned the legality of a key proviso and sought to know if .....
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Canada's CPI hike in May was the steepest in a decade
June 18, 2021 12:51 AM AEST| By Team Kalkine MediaConsumer Price Index (CPI) is up 3.6 per cent in May on an annual basis, according to Statistics Canada. The data agency has highlighted the impact of base-year on CPI. The pandemic struck last year and led to a grinding halt in economic activity. G...
Economy Set to Get a Big Boost with New Infrastructure Bank
June 17, 2021 08:44 PM AEST| By Kamalika GhoshSummary The UK treasury has launched a new infrastructure bank in the Leeds. The bank will fund various infrastructure projects across the UK through debt, equities and guarantees. The investment will be across multiple sectors such as transpo.....
ANZ expects RBNZ to hike rates in February 2022 after remarkable GDP numbers
June 17, 2021 05:02 PM AEST| By SonalSummary ANZ now expects the RBNZ to hike OCR in February 2022 after the country records strong GDP numbers in Q1 of 2021. Q1 GDP results stunned and failed many economists’ predictions. ANZ stated that inflationary pressure is rising and.....
Fed signals rate hike by 2023, expects 7% GDP growth this year
June 17, 2021 11:39 AM AEST| By Team Kalkine MediaSummary Currently, the bank’s interest rates are near zero; it also buys around US$120 billion worth of treasury bonds at low-interest rates monthly. Fed Chairman Jerome Powell said discussions would continue before a final decision; he d.....
New Zealand just escaped recession, GDP grows by 1.6% in March quarter
June 17, 2021 10:17 AM AEST| By ManikaSmmary Stats NZ announced today that GDP grew by 1.6% in the March quarter. NZ escaped a double-dip recession. RBNZ in its May Monetary Policy had predicted a dip in GDP again. Stats NZ revealed today that the Gross Domestic Product (GDP).....
UK inflation soars to 2.1%, highest since July 2019
June 16, 2021 09:53 PM AEST| By Team Kalkine MediaSummary UK CPI-based inflation rate soared to 2.1% in May 2021 Sharp increase clearly portrayed the sudden spike in demand Clothing, meals and drinks, motor fuel contributed majorly to the upsurge The Consumer Prices Index (CPI) bas.....
UK-Australia First Free Trade Agreement Post Brexit to Boost Boris Johnson’s Political Standing
June 16, 2021 08:35 PM AEST| By Kamalika GhoshSummary Australia and the UK signed the first free-trade agreement since Brexit. The deal would remove tariffs on swimwear, Hardy wines, Jacob’s Creek, and confectionery. It would also let people less than 35 years of age to work and liv.....
What is Superannuation Fund and how it is different from KiwiSaver?
June 16, 2021 06:08 PM AEST| By ManikaSummary Superannuation Fund is a sovereign wealth fund. It is for people above 65 years of age. It invests in equities in NZ and overseas. It provides supplemental income to the Kiwis. Superannuation Fund in New Zealand is a governm.....
Have these 5 stocks been most active on NZX today?
June 16, 2021 03:36 PM AEST| By RomaSummary Canterbury floods to have caused multitude of claims from Tower Limited. Investor day to be held virtually by Sky Network Television limited Oceania Healthcare recorded good business despite the pandemic. Depending on various mark.....
New Zealand’s current account deficit in all-time poorest shape
June 16, 2021 12:32 PM AEST| By SonalSummary Current account deficit (CAD) reached $5 billion for New Zealand in the March quarter of 2021. Rise in imported goods and services deficit was the reason behind widening of the CAD. International investment position of the country narr.....
Reserve Bank of New Zealand adds a new tool to control house prices
June 16, 2021 12:13 PM AEST| By ManikaSummary The RBNZ initiates new tools to keep house prices in control. Government says these should not impact first-time home buyers. The RBNZ says these tools will only help in keeping the prices at sustainable levels. The Reserve Bank o.....
US retail sales drop 1.3% in May as spending shifts back to services
June 16, 2021 09:20 AM AEST| By Team Kalkine MediaSummary Expenditure on big items like auto, furniture, building material has dropped due to high prices and supply chain disruption. Spending on food, services, clothing, and entertainment activities like theme parks and casinos has gone up. .....
Are retail sales increasing in the US?
June 16, 2021 08:42 AM AEST| By Kiran MuraliRetail sales represent the purchase of goods and service through different channels by consumers and businesses. It indicates consumer demand for finished goods in a market. The Bureau of the Census puts out the advance monthly sales estimate for re...
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Unemployment rate slips slightly as claimant count dips sharply
June 15, 2021 10:39 PM AEST| By AbhijeetSummary The unemployment rate in the UK fell marginally in April 2021 to 4.7% Number of people seeking the unemployment benefits dropped by 92,600 Employees on payroll in May 2021 jumped by 141,000, ONS estimate suggests With the co.....
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