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Housing in Australia has been declared "broken" by an advocacy group which found 98 per cent of rental properties are unaffordable to minimum wage workers. The Anglicare study found fewer rental homes are accessible for low-income Aussies than a year earlier.
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Payment providers soar on positive updates. Afterpay rivals Zip Co and Splitit have surged in early trade after posting positively received quarterly updates.
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Pioneer Credit’s shares have soared after saying there have been offers made to the Perth-based debt management company including a takeover bid. Pioneer in an announcement to the Australian Securities Exchange today said it had received “several confidential, non-binding, indicative proposals”. The stock was up 38¢, or 19 per cent, to $2.35 at 12.06pm.
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Debt recovery action initiated by the Australian Taxation Office against small firms is having a "crippling" impact on many of them, according to the small business ombudsman. A report released today from the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) looks at the ATO's use of various debt recovery actions, concluding not only is it destroying small businesses, but is happening without proper oversight.
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The WA economy grew at a nation-leading 9 per cent last year, according to CommSec analysis, as iron ore volumes and prices supercharged the State’s export performance. But the State of the States report showed the economic boost had yet to flow on to the community, with housing and construction still in a slump.
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Orica has slashed the value of its investment in Yara’s Pilbara explosives plant by $155 million as work continues to replace defective equipment and commission the plant early next year - more than three years late. Norwegian fertiliser producer Yara built and operates the plant on the Burrup peninsula and Orica, which has a 45 per cent interest, sells the ammonium nitrate produced to the mining industry.
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Clive Palmer has finally stumped up $7 million to pay out the entitlements of sacked Queensland Nickel workers. About two weeks ago, Mr Palmer said he'd cover $7.16 million in entitlements still owed to workers who lost their jobs when his nickel business collapsed with massive debts.
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LNG import terminal approval — an Australian first — a sign of hope for NSW manufacturing. Industry leaders are celebrating the approval of a $250 million gas import terminal in New South Wales which is tipped to meet the majority of the state's gas needs and secure thousands of manufacturing jobs.
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Online jobs listing giant Seek says it is investing $142 million in major internet learning platforms Coursera and FutureLearn. "Both businesses are leveraged to structural trends such as migration of education online and in helping millions of people to adapt to evolving labour markets," Seek chief executive Andrew Bassat said on Monday.
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The managing director of Tempo Australia has quit as the contracting company probes a potential cost blowout at one of its projects. Tempo also flagged a move of its head office from Perth to Sydney. Tempo’s shares last traded at 6.8¢, down 53 per cent this year.
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Australians lost nearly half a billion dollars to scammers in 2018, but that figure is just "the tip of the iceberg", the consumer watchdog has warned. Consumers were cheated out of (at least) $489 million last year — a 44 per cent jump on the $340 million reported in 2017 — according to the Australian Competition and Consumer Commission's (ACCC) latest 'Targeting Scams' report.
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Analysis - Ian Verrander: Credit and credibility: Who loses most in a pre-election rate cut. Back in 1992, as US presidential hopeful Bill Clinton kicked his campaign into gear, strategist James Carville, scrawled this phrase on a whiteboard; a note to keep everyone on message. "The economy, stupid."
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The Federal Reserve is poised to hold its fire this week, leaving benchmark US interest rates untouched as central bankers await firm indications of where the world's largest economy is headed. But as policymakers gather for their third meeting of the year on Tuesday, President Donald Trump is still hammering the Fed, demanding they lower interest rates. He also made plans to fill Fed vacancies with political loyalists to help get his way.
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Huawei: US official warns 'no safe level' of involvement with tech giant. The US has warned that its intelligence sharing with other countries would have to be re-evaluated if those countries use Huawei to build their 5G networks. Senior US official Rob Strayer said any such role for the firm posed an "unacceptable risk" to security.
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US regulators considered grounding some Boeing 737 MAX planes last year after learning of a problem with a system that is now the main suspect in two deadly crashes, a source close to the matter said.
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New spaceflight technologies could reshape the global economy on a level not seen since the internet. That's what some in the industry and on Wall Street are saying, at least. And a growing number of analysts say it's time for mainstream investors to get in on the action.
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Is Buffett still a buy? Wall Street splits on Berkshire Hathaway as annual meeting looms
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The European Union warned Saturday that US President Donald Trump's rejection of a UN treaty designed to regulate the global arms trade would hamper the global fight against illicit weapons trafficking. "A decision by the US to revoke its signature would not contribute to the ongoing efforts to encourage transparency in the international arms trade, to prevent illicit trafficking and to combat the diversion of conventional arms," said the EU's chief diplomat, Federica Mogherini.
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Mastercard and Visa have both agreed to cut their fees for tourists using their cards in the EU, after a long-running battle with the European Commission. The credit card firms will now charge retailers around 40% less on non-EU credit and debit cards payments.
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A six-month delay to Brexit gives Britain’s central bankers space to take a broader view of the economy this week, but persistent uncertainty over leaving the European Union makes them unlikely to raise interest rates any time soon.
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Huawei leak scandal rocks Britain's bickering government. Britain's splintered government was rocked Friday by a burgeoning scandal over who leaked news that Prime Minister Theresa May has conditionally allowed China's Huawei to develop the UK 5G network. The bitterly disputed decision was reportedly made at a Tuesday meeting of Britain's National Security Council.
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Uber quizzed on growth at IPO roadshow in London. Uber Technologies Inc Chief Executive Dara Khosrowshahi sought to persuade money managers in London that the loss-making ride hailing firm’s growth plans justified a valuation of up to $91.5 billion in an initial public offering (IPO).
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Chinese President Xi Jinping has called for more countries to join his sprawling infrastructure-building initiative as other leaders expressed support for a project Washington worries is increasing Beijing's strategic influence.
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