News

Proportion of corporate revenue going to profits is on the rise

The amount of revenue earned by Australian corporations which gets sent to shareholders is rising – while the amount received by workers in the form of wages is going down. According to figures, the proportion of gross domestic product (or GDP) at factor income which ended up as of dividends received by shareholders went up…

New data shows modest rise for profits and wages in Q4

Gross operating profits and wages both grew by a modest 0.8 percent during the fourth quarter of last year, while home building and job ads slumped in yet more signs that the economy is losing traction ahead of the official GDP report and the central bank’s policy meeting this week. The latest data for profits…

Australian home prices fell 0.7% in February

Australian home prices fell 0.7% in February according to new figures released by CoreLogic as the recent downward trend extended beyond the major cities of Sydney and Melbourne to other areas of the country. The latest decline means prices are now 7% lower compared to the peak boom period. The new data showed Darwin had…

Business investment up 2% in Q4, spending outlook strong

There was a welcome boost for the economy on Thursday as new data released by the Australia Bureau of Statistics showed a better-than-expected jump in business investment for the December quarter of 2018. Investment increased 2% to A$30.09 billion during the final three months of the year, which is the biggest rise for three years…

Value of construction work falls for second successive quarter

The value of Australia’s construction sector slumped for the second consecutive quarter in late 2018 following larger than expected falls for residential and engineering work. The 3.1% decline in the fourth quarter was considerably lower than the 0.4% gain that had been forecast. The new data published by the Australian Bureau of Statistics (ABS) adds…

Treasurer says IMF gave economy “big tick” despite growth warnings

Treasurer of Australia Josh Frydenberg says the International Monetary Fund is confident the country remains on course to deliver steady economic growth after giving it a ‘big tick’ and praising its ‘robust’ and ‘resilient’ economy, despite emerging downside risks. IMF warned on Monday that Australia’s wages are now projected to grow by just 0.3% during…

Queensland’s space industry could generate $1.3 billion, report finds

Queensland’s space industry could employ 6,000 people and generate more than $1 billion if it makes changes to rapidly scale up its operations to meet growing demand, a new report published by Deloitte Access Economics has found. The study titled ‘Sky is not the limit: Building Queensland’s space economy’ takes an in-depth look at the…

Reserve Bank says weak wage growth a threat to economy

A weakness in wage rises poses a bigger threat to economic health than declining property prices according to Australia’s Reserve Bank governor, who told a parliamentary committee late last week that employees need to be paid more to address the imbalance. RBA governor Philip Lowe appeared before the House of Representatives Economics Committee on Thursday…

AustralianSuper pushing companies to reduce carbon emissions

AustralianSuper, the biggest super fund in the country, worth some $140billion worth of investments, is slowly establishing itself as one of the leading voices for climate action as it calls on some of the companies with the dirtiest polluting habits to begin faster diversification. With climate change becoming one of the hottest topics when it comes to…

Payday loans on the up as Australians seek extra credit

Australians still appear to be struggling for extra credit as they seek new ways to bump up their disposable incomes. There has been a series of economic conditions which appear to have impacted heavily on the average wallet, from falling house prices to tightening lending from major banks in the face of the Royal Commission inquiry. With…