Australia’s pay-TV leader Foxtel has made 200 staff redundant, as it struggles to cope with the impact of coronavirus and the changing media landscape. It has also put 140 additional staff, mostly in its Fox Sports division, on leave until June. The company, 65 per cent owned by News Corp. […]
Month: April 2020
S&P: 1 in 3 chance of Aust downgrade
Australia’s government has a one in three chance of losing its AAA credit rating from its virus spending, says the agency that flagged a negative outlook. Standard & Poor’s international public finance director Anthony Walker says the downgrading of the outlook on Wednesday acknowledged large increases in deficits in the […]
GFC reforms will help in virus crisis: RBA
The COVID-19 pandemic is putting a major strain on the global financial system but reforms put in place after the 2008 global financial crisis are helping banks weather the storm, the Reserve Bank of Australia says. Banks have more capital, less liquidity and less complex business structures than before the […]
Auction clearance rates dive amid virus
Clearance rates at Australian auctions have dived following the social constraints and uncertainty caused by the coronavirus pandemic, according to a major property data provider. Corelogic’s latest auction market review shows the clearance rate across combined capital cities was 62.5 per cent from 18,902 auctions in the three months to […]
5 Steps To Discover And Validate Your Startup Ideas
Irrespective of how rewarding your full-time job may be, discovering the right side enterprise ideas and ultimately turning into totally self-employed is even more meaningful than great pay and solid benefits. When you’ve got experience writing grants or are willing to learn how to do it by practising your expertise with out […]
Low demand pushes aluminium to 4-year low
Aluminium prices slipped to their lowest level in more than four years as falling demand due to the new coronavirus and expectations of a large surplus this year were reinforced by rising stocks. Benchmark aluminium on the London Metal Exchange was down 0.8 per cent at $US1,465 a tonne, a […]
Gold steady as markets await Fed minutes
Gold prices held steady as investors awaited the release of minutes from the US Federal Reserve’s policy meeting, which is expected to provide further clues on stimulus measures amid rapid surge in coronavirus cases. Spot gold were little changed at $US1,648.43 per ounce, having hit a near one-month high on […]
Oil price up on hopes of production cuts
Oil futures strengthened late in the session, buoyed by hopes that OPEC and its allies will strike a production cut agreement on Thursday. Crude has collapsed in 2020 because of a slide in demand due to the coronavirus pandemic and excess supply. Brent dropped to $US21.65, its lowest since 2002, […]
Global stocks dip as virus death toll up
World stocks have turned negative as the coronavirus death toll mounted and euro zone finance ministers failed to agree a rescue package to help economies recover from the impact of the outbreak. COVID-19 hospitalisations seemed to be levelling off in New York state, but deaths across the United States jumped […]
Mortgage lending fell as COVID-19 loomed
The value of new home loans fell by a worse-than-expected 1.7 per cent in February even before the most serious coronavirus lockdown measures were in place. Economists had tipped the total value of housing loans to slow from 4.6 per cent growth in January as the COVID-19 outbreak emerged into […]