Retail trade likely to have grown in May
CANBERRA, AAP – New figures will show how retailers are faring with consumer confidence having taken a bit of a hit from the fallout of the recent 14-day lockdown in Victoria. Consumer spending is expected to be a main plank of Australia’s continued economic expansion, aided by low interest rates, the wealth effect of rising…
Why has growth slowed globally?
Even before COVID-19 hit, Australia was experiencing slow growth in GDP per capita and real wages. There has been a distinctly lower rate of both economic and real wages growth since the financial crisis of 2008-09. Advanced economies around the world have, to varying degrees, witnessed the same trends. If anything, Australia has done slightly…
Super law reform backlash ‘scare tactics’
CANBERRA, AAP – Treasurer Josh Frydenberg has denied newly passed superannuation laws will trap millions of Australians in dud products, branding backlash as “scare tactics”. Australian workers currently often unknowingly open many small accounts and get signed up to default insurance, attracting multiple fees. Under new rules passed in parliament on Thursday, workers will be…
Woolworths taken to court for underpayment
CANBERRA, AAP – Woolworths is facing legal action for allegedly underpaying managers, with the workplace watchdog hunting more than $710,000 in outstanding back pay. The Fair Work Ombudsman has launched Federal Court action against the supermarket giant over allegations it underpaid 70 salaried managers upwards of $1.1 million. The regulator claims $713,395 has not been…
Population: Fewest Aussie births in 13 years. Death rate falls
Population: Fewest Aussie births in 13 years; Death rate falls Population What happened? Australia’s population increased by 6,900 people or 0.03 per cent in the December quarter, 2020 to 25,694,393 people. In 2020, Australia’s population grew by 136,300 people – the slowest pace since at least June 1982 when Bureau of Statistics (ABS) records began….
Major outage hits Aussie banks, businesses
BRISBANE, AAP – Australian banks and other businesses including Australia Post and Virgin Australia have been hit by a major telecommunications outage. Westpac Bank, the Commonwealth Bank, St George Bank and the Reserve Bank of Australia were among those affected. ANZ was also offline for about half an hour but has told AAP its services…
Minimum wage set to rise by $18.80 a week
CANBERRA, AAP – Australia’s lowest-paid workers will receive an $18.80-a-week wage increase. The Fair Work Commission revealed on Wednesday the national minimum wage will rise 2.5 per cent to $772.60 per week or $20.33 an hour. Sectors still under pressure from coronavirus restrictions will have the increase delayed beyond July 1. More than two million…
Trainfactory Adds More Courses for New and Expert Traders This Year
The industry of cryptocurrency trading has been increasing in popularity more than ever. As a result, a lot of people are turning their interest to the world of online trading. In order to thrive, you need to be equipped with the knowledge and up-to-date information about the ins and outs of this business. Trainfactory helps…
Aust shares on broad-based rally
SYDNEY, AAP – Australia’s share market was on a broad-based rally, having bettered a poor showing from Wall Street. Property, technology and healthcare shares were best and gained more than one per cent. Market giant CSL was up 1.12 per cent to $297.41 while major players in banking and mining struggled for momentum. The benchmark…
World Bank opposes vaccine IP waiver
WASHINGTON, D. C., RAW – World Bank President David Malpass says the bank does not support waiving intellectual property rights for COVID-19 vaccines at the World Trade Organisation out of concern that it would hamper innovation in the pharmaceuticals sector. His comments on the subject, made during a call with reporters on World Bank economic…
