Oxfam Australia Media Release Oxfam Australia welcomes the Australian Government’s decision to vote in favour of a United Nations resolution urging Israel to end its occupation of the Palestinian Territories. This shift in Australia’s stance aligns with the UN resolution demanding that “Israel bring to an end its unlawful presence in the Occupied Palestinian Territory…
Asian stock markets are generally lower given the tensions on the Korean peninsula while the Australian dollar fell sharply on the release of the weaker than expected national account figures. Other undollars are doing poorly against USD with Yen reverting while Euro is still dicing with the 1.05 handle again. Oil futures are trying to
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Wages have been pancaked for six months in the national accounts. Westpac. Cost pressures continue to moderate as the impact of the larger than average 2022-23 minimum and award wage increase roll out of annual calculations. Average (non-farm) earnings per hour moderated to 3.2%yr, from 6.5%yr in the June quarter. Not only was there a step
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The latest data from CBA, released last month, showed that older Australians are spending freely while younger Australians are cutting back. As illustrated above, Australians aged 70-plus increased their spending on discretionary categories by 8.0% in the year ended 30 September, nearly three times more than headline CPI inflation. Qantas shares have risen by more
The East Coast gas cartel is eating vulnerable Australians alive. A record number of people are struggling to pay their energy bills, the Australian Energy Regulator has said in a report that highlights the toll of Australia’s cost of living crisis that is sapping support for the federal Labor government. The AER said 1.9 per
Monash University South Korea was plunged into political chaos overnight when President Yoon Suk Yeol shocked the country by imposing martial law before agreeing to lift it six hours later. The move resulted in soldiers on the streets, protests and a dramatic late night vote in parliament to overturn the declaration. Gil-Soo Han, Professor Communications &…
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Chinese realtors are feeling less sick. Homebuyers not so much. Leading indicators are weakening. Salesa are OK. Inventory is improving, Completions are still very high. This has a long way to fall. Deutsche reckons a muddle through from here. Sounds about right.
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The Q3 national accounts for Australia were another shocker, with the economy growing by only 0.3% over the quarter and by 0.8% over the year. This meant Australia’s per capita recession extended to a record seven consecutive quarters after falling by 0.3% in Q3. Australia’s real per capita GDP has now declined by 2.1% since
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You can’t keep a good Pavlovian dog down. Iron ore is close to the limit it can reach in its jaws with steel. The steel price can’t climb because it is only being held aloft by exports, which will die if it rises in price. Underlying dynamics are quite soft if the steel PMI is
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University of South Australia Media Release A novel approach to make seawater evaporate faster than freshwater has been hailed as a significant breakthrough in desalination technology that will benefit billions of people worldwide. Up to 36% of the world’s eight billion people currently suffer from severe freshwater shortages for at least four months of the…
New Equifax data shows that 32% of Australians now use Buy Now Pay Later (BNPL) or credit cards for everyday essentials—up from 23% in 2022. There has also been a 205% annual increase in hospitality sector insolvencies driven by rising costs and lower consumer demand amid the cost-of-living crisis. Equifax’s Executive General Manager, Moses Samaha,