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Showing 461 - 470 of 1401 results for "Household"

Billionaires club rakes in cash amid COVID-19 crisis

ALLY SELBY  |  FRIDAY, 24 APR 2020
Since the beginning of the year, America's wealthiest billionaires have seen their wealth increase by millions, with eight seeing their net worth surge by more than US$1 billion dollars. The latest research from the Institute for Policy Studies revealed ...

Chief economist update: Turns out Brexit was heaven

BENJAMIN ONG  |  FRIDAY, 24 APR 2020
Bad timing it may be but, it is what it is. The coronavirus pandemic struck just when the dark clouds of Brexit uncertainty lifted over the United Kingdom. For the best part of three years, Brexit was on every Brits mind - dampening business investment ...

No liquidity support for super: RBA

ELIZA BAVIN  |  WEDNESDAY, 22 APR 2020
Reserve Bank governor Philip Lowe said while some super funds may shrink as a result of the governments early release scheme, they are well placed to manage the withdrawals. Lowe said the industry as a whole should be able to cope with the number of ...

Chief economist update: Stimulus measures ease extreme fear

BENJAMIN ONG  |  WEDNESDAY, 22 APR 2020
... care" (4.3%). The lead from the University of Michigan's consumer sentiment survey points to further retrenchment in household spending - the index dropped to a reading of 71 in April - the lowest reading since December 2011 and the biggest monthly ...

Oil tanks

BENJAMIN ONG  |  TUESDAY, 21 APR 2020
... lower than last year." Under normal circumstances, the drop in oil prices would have been a boon. Lower oil prices raise household disposable income. But not when consumers are required to stay home so as to control the spread of the coronavirus infection. ...

Millions jobless within weeks: Grattan

HARRISON WORLEY  |  MONDAY, 20 APR 2020
New Grattan Institute analysis estimates up to 3.4 million Australians could soon be out of work. The think-tank's latest analysis of the impact of the COVID-19 pandemic predicts that between 14 and 26% of Australian workers could be out of a job within ...

Worse than the Great Depression: IMF

ELIZA BAVIN  |  WEDNESDAY, 15 APR 2020
The International Monetary Fund has predicted Australia's GDP will be -6.7% this year due to the effects of COVID-19. Gita Gopinath, economic counsellor and director of the research department at the IMF, said the pandemic has resulted in a collapse ...

ASIC provides relief around early super access advice

JAMIE WILLIAMSON  |  TUESDAY, 14 APR 2020
ASIC has announced three temporary measures to assist the industry with providing affordable and timely advice during the COVID-19 crisis. It has also confirmed it is delaying its work on grandfathered conflicted remuneration and life insurance advice. ...

Australia's AAA rating at risk

ELIZA BAVIN  |  THURSDAY, 9 APR 2020
... rating will be officially downgraded as it will depend on whether the COVID-19 outbreak has long-term effects. "With household indebtedness at elevated levels, this could delay the process of repairing the government balance sheet beyond what we expect ...

Big banks cop a beating

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
The big four banks have all suffered a rating downgrade due to the COVID-19 fallout, while APRA warns they should cut dividends and bonuses. Fitch Ratings downgraded all four of the major banks, and their New Zealand subsidiaries, due to its expectation ...