Bonus payments lift wages
Bonus payments lift wages; Consumers are OKConsumer sentiment; Wage Price IndexConsumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment index fell by 0.6 per cent to 101.8 points in May. The index remain above its long-term average of 101.5 points. A reading above 100 points denotes optimism.Wages: The wage price index rose by 0.5 per…
Myer appoints UK retailer John King as CEO
Embattled retailer Myer has recruited former UK department stores boss John King to be its next chief executive following a three-month international search. Myer executive chairman Garry Hounsell says Mr King led the turnaround of UK department store chain House of Fraser while CEO in the eight years to 2015. Mr King playing a central…
CommSec Daily Report Thursday
Latest NewsLocal shares have been boosted by a strong showing from US sharemarkets overnight. US traders digested the release of US inflation data which came in higher than forecast in January, higher inflationary pressures have been one of the causes of the recent market volatility. However a slowdown in retail sales tempered views about the…
Base metals rise on US-China trade hopes
Copper prices rose, and other base metals prices were higher at the end of last week, as officials from Washington and Beijing prepared for more talks to resolve their trade issues. US officials expect China’s top trade negotiator to visit Washington this month, signalling that higher-level discussions are likely to follow this week’s talks with…
Many conservatives fret over Trump’s war on tech giants
President Donald Trump’s simmering war against Silicon Valley is raising concerns, notably among conservatives, about a politically motivated crackdown on tech firms that could damage free speech protections. The attacks from the White House coincide with a Justice Department announcement that it would convene talks on whether social media firms are ‘stifling’ speech or harming…
Eurozone backs Spain’s De Guindos for ECB top job
Eurozone finance ministers backed their Spanish peer Luis De Guindos for the vice-presidency of the European Central Bank on Monday after his only rival pulled out. The choice by the single currency bloc’s finance ministers was widely expected and came despite the reticence of European lawmakers to see a politician take over as number two…
Our Reliance On Housing Wealth Is Risky
By Wealth Foundations Australia’s median wealth per adult at USD194,000 is the highest in the world, according to the Credit Suisse Global Wealth Report 2012. Average wealth per adult, at USD355,000, is second only to Switzerland. It wasn’t that long ago, in fact the late 1990’s, that Australia was seen as a potential laggard in…
Britain draws ire by delaying tax shelter crackdown
The UK government drew the wrath of transparency groups on Monday by delaying proposed legislation aimed at ending secret company ownership in offshore territories such as Jersey.Britain has been gradually ramping up its fight against money laundering and various tax avoidance and evasion schemes.But it has less say in the rules governing the Isle of…
US-China talks to boost Aussie market
A positive open is tipped for the Australian share market on the back of encouraging trade talks between the US and China. The benchmark S&P/ASX 200 is expected to climb 53 points when trade resumes on Monday after finishing at 6,066.1 points on Friday, CommSec chief economist Craig James told AAP on Sunday. ‘There’s more…
What next for Brexit?
Despite the humiliating rejection of Prime Minister Theresa May’s Brexit deal, Britain is no closer to knowing the end result of its vote to leave the European Union.A raft of amendments to be voted on by MPs on Tuesday threaten to further muddy the waters as the clock ticks down to Britain’s scheduled departure from…
