Stocks shudder on report of cancelled US-China trade talks

Stocks shudder on report of cancelled US-China trade talks

Reports of the latest setback counter rising confidence which last week sent stocks to the highest level in six weeks amid signs the US and China were closing in on a truce.There were a series of reports that Beijing offered the US a way to close the trade gap between the two nations. In addition,…
Chris Bowen touts $200b tax hike ‘buffer’ against global ‘headwinds’

Chris Bowen touts $200b tax hike ‘buffer’ against global ‘headwinds’

'We are exposed'High household debt and subdued wage gains was a risky combination, so Labor's push to stop negative gearing on properties purchased in the future, except new-built homes, would lower leverage in the property market, the shadow treasurer said."We do need to look at the levers and the fact we have the second-highest household…
Chris Bowen to give APRA more power to shut bad super funds

Chris Bowen to give APRA more power to shut bad super funds

A package of measures designed to protect low-balance super accounts from fee erosion is already before federal Parliament but Labor refuses to support them because the party disagrees with insurance being made non-compulsory for under 25s.Labor says it wants to protect young workers in dangerous jobs by ensuring they get insurance cover by default rather…
Hopes fade for a Shanghai Accord Mark II

Hopes fade for a Shanghai Accord Mark II

But although the International Monetary Fund has cut its forecasts for world economic growth this year to 3.5 per cent, and China's economic growth has slowed to its slowest pace in nearly three decades, and the Chinese sharemarket suffered a bruising 25 per cent decline last year, there's little sign that a "Shanghai Accord" is…
Suncorp shakes up lending rates and commission payments

Suncorp shakes up lending rates and commission payments

Shop aroundUpfront commission payments to mortgage brokers will be calculated on the net loan balance five calendar days after the date of the settlement. That is, the approved loan amount less any funds held in offset, or available for redraw by the borrower."Suncorp believes most customers have drawn down their funds within five days," a…
Xi Jinping warns China to be ‘highly alert’ for ‘black swans’, ‘grey rhinos’

Xi Jinping warns China to be ‘highly alert’ for ‘black swans’, ‘grey rhinos’

Unlike during the global financial crisis when the confidence of China's leaders in China's growth did not waver, the language from the country's economic policymakers has shifted this month in a growing acknowledgment of the risks facing the economy domestically and from international tensions. China's state planning body on Tuesday warned China's employment market was…
‘Best in show’ is essential if superannuation is to ever lift its game

‘Best in show’ is essential if superannuation is to ever lift its game

This is the heart of the problem in superannuation. In a normal market, if you perform poorly, people stop buying your product, leaving you to improve, merge or go out of business. Normally, this is a clarifying discipline that drives innovation and better products.In superannuation, the poor performance of some funds has gone unchecked for…
Casualisation of the workforce has fallen: ABS data

Casualisation of the workforce has fallen: ABS data

Mr Wooden said he thought Tuesday's data, the ABS biennial employees earnings survey, provided an accurate reading on the number of casual employees in the workforce because it interviewed employers."In terms of knowing how people are paid, you would think the employers would know," said Mr Wooden.He compared this to the quarterly detailed labour force…
ASX trips over banks and miners

ASX trips over banks and miners

HomeMarketsUpdated 22 Jan 2019 — 5:07 PM, first published at 4:43 PMThe ASX broke a five-day winning streak as banks, miners and energy companies lost ground after the International Monetary Fund issued a gloomy forecast for the global economy.The benchmark S&P/ASX 200 Index dropped 31 points, or 0.5 per cent, to 5858. More broadly, the…
Squeezing the rich is much more complicated than it looks

Squeezing the rich is much more complicated than it looks

HomeNewsEconomyBy Richard Holden 22 Jan 2019 — 4:00 PMAlexandria Ocasio-Cortez, the young left-wing firebrand member of the US House of Representatives, has become notable for two things. The first was the revelation that, as a college student, she danced on a rooftop in a YouTube video. The second was more consequential – she called for…
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