High inflation “hurts everyone” but especially those on low and fixed incomes, the head of the Reserve Bank of Australia has stressed following a sluggish economic growth report. Governor Michele Bullock warned rising prices eat into savings and erode purchasing power, and should inflation stay higher for longer, more borrowers will end up in mortgage … Read more
Vice President Kamala Harris will propose a ban on price gouging by food companies, along with incentives to build new housing and a significant expansion of the child tax credit at a campaign rally in North Carolina on Friday as the Democratic presidential nominee hones her economic message. Harris plans to announce that, during her … Read more
WASHINGTON (AP) — Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve. In a better-than-expected report, consumer prices declined 0.1% from May to June after having … Read more
“People make fun of me about the fridges,” said Tassos Stassopoulos. “I am fridge-obsessed.” As the founder and managing partner of Trinetra, a London-based investment firm, Stassopoulos has pioneered an unusual strategy: peeking inside refrigerators in homes around the world in order to predict the future—and monetize those insights. By the time of his refrigeration … Read more
The Queensland government is set to spend big on cost-of-living relief, with the treasurer arguing it will be worthwhile despite the likelihood of a budget deficit. Treasurer Cameron Dick’s fifth budget on Tuesday will splash the cash for Queenslanders ahead of the October state election. WATCH THE VIDEO ABOVE: Queensland Treasurer Cameron Dick hands down … Read more
The jobless rate has inched 0.1 percentage points higher to 3.8 per cent, with 7000 jobs disappearing from the economy in March. The participation rate fell to 66.6 per cent from 66.7 per cent in February, according to official labour force data from the Australian Bureau of Statistics. “With employment falling by around 7000 people … Read more
The latest surge in the price of bitcoin is increasing the clamor around it, says Dal Bianco, drawing in yet more speculators and creating a “self-reinforcing cycle.” Likewise, when collective confidence in the prospect of further price growth falters, she says, the resultant downturn can be equally sudden. Under these conditions, demand can vanish as … Read more
A major Australian building and construction group spanning four states has collapsed, with the director blaming “impossible” economic conditions and building costs for the company’s downfall. Rork Projects, which describes itself as a national fit-out and refurbishment company, went into administration on Friday after 26 years of operation. The group, which serviced the corporate and … Read more
New data reveals the Australian jobs in which workers received the biggest wage jumps in 2023. The Wage Price Index (WPI) measures changes in the prices of labour, unaffected by compositional shifts in the labour force, hours worked or employee characteristics. The new data was updated on Wednesday to include information from December last year. … Read more
“An artist friend of mine got me an AI-generated painting as a gift. I can see she tried to personalize the concept, and it’s nicely framed, but part of me still feels a little cheated. Is that fair?” —No Returns Dear No Returns, There’s something implicitly paradoxical about feeling “cheated” by a present. A gift … Read more
