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Reserve Bank warning on cautious spending

CANBERRA, AAP – Australia’s sharp recovery from last year’s recession is expected to have extended into the early months of 2021. But a Reserve Bank of Australia official has warned the rebound may not be as robust if households and businesses show the same caution as they did following the Global Financial Crisis. Forecasts for…

Concern over $40m Indigenous water funding

CANBERRA, AAP – Indigenous groups have raised concerns the Morrison government is considering spending $40 million earmarked for water rights on other uses. The coalition promised in 2018 to create the fund designed to allow First Nations people in the Murray-Darling Basin to buy water for cultural and economic benefit. Earlier this year, Water Minister…

Treasurer tries again with Facebook boss

CANBERRA, AAP – Treasurer Josh Frydenberg will have another phone conversation with Facebook founder Mark Zuckerberg to try to resolve issues around the government’s media bargaining code. The social media giant shows no sign of backing down after banning access to news and information pages across Australia in response to the code. Mr Frydenberg said…

Overseas arrivals keep pressure on states

CANBERRA, AAP – New figures show almost 1000 people entered Australia from overseas every day in November. Despite Australia’s international borders being effectively closed due to COVID-19, almost 30,000 people arrived over the month, new data from the Australian Bureau of Statistics shows. The total included 7570 short-term overseas arrivals – the most since March…

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Japan has trailblazed on economic stimulus, to not much avail

Will Japan under Suga try the reflationary option Abe didn’t? In 2006, 52-year-old Shinzō Abe of the almost-always-in-power Liberal Democratic Party became Japan’s youngest-ever prime minister. In 2007, however, the son of a foreign minister and the grandson and grand-nephew of prime ministers resigned due to ill health. Abe recovered soon enough. In 2012, the…

Is a flood of liquidity entering markets?

As interest rates creep lower and asset-buying programs expand, contrarian investors have been steamrollered by liquidity and momentum. Yet abundant liquidity and plausible storytelling can only sustain markets for so long, and every story needs an ending. We prefer to leave expensive technology businesses to others, while focusing on neglected long-duration businesses with proven earnings…

Job vacancies and retail spending well off the lows

Job vacancies and retail spending well off the lows Retail trade; Regional jobs; Job vacancies ¾ Retail trade: ‘Preliminary’ retail trade fell by 1.5 per cent in September after falling 4.0 per cent in August. Retail spending is still up 5.2 per cent on the year. ¾ Regional payrolls: The Australian Bureau of Statistics (ABS)…

Record customer receipts highlight Netlinkz growth in China

Netlinkz Limited (ASX: NET) today reported record receipts from customers for the quarter ended 30 September 2020. Growth in receipts has been driven by increasing demand for its VSN platform, particularly in China. Netlinkz, an Australian software company that specialises in secure virtual network solutions, has been refining its data security products since 2014. Its…

Consumer confidence hit 20-week high

Consumer confidence hit 20-week high Lower JobKeeper payments hit payrolls & wages Consumer confidence; RBA Board minutes & speech; Payrolls & wages, CBA household spending Consumer confidence: The weekly ANZ-Roy Morgan consumer confidence rating rose by 0.4 per cent to a 20-week high of 98.1 (long-run average since 1990 is 112.6). Confidence has lifted in…