ASX: The local share market is expected to rise this morning after overnight.
Recession: The World Bank has slashed its global growth forecasts for 2023, leaving many countries on the .
The World Bank said it expected global GDP growth of 1.7 per cent in 2023, the slowest pace - outside the 2009 and 2020 recessions - since 1993.
Rental stress: Aussie renters could soon get relief, with new research finding that, while prices are still rising, they have .
Renters endured the fastest growth on record last year, with rock-bottom vacancy rates driving national rents up by 10.2 per cent. But December-quarter rental data showed the pace of growth slowed to 2 per cent in the final three months of 2022.
International students: Australia's lucrative looks set for a huge boost, thanks to improving relations with China.
Government data shows Chinese student visa holders more than halved between 2019 and 2022, falling from 165,149 to 78,234 during the pandemic period. Australia's international student sector was valued at a cool $40 billion in 2019.
Pokies: Suspected money laundering through poker machines led to a big jump in reports last year, according to the Government’s financial intelligence agency.
soared to more than 500 between April and May last year, which was the yearly national average between 2016 and 2019.
Green transition: Major car brands are and must speed up their efforts to limit global warming, a European automaker has warned.
Polestar sustainability head Fredrika Klaren sounded the warning in Sydney this week, saying the automotive industry's efforts were on track to fall significantly short of the emission reductions recommended by 2030.
Housing woes: Around a third of Victorian prisoners had their parole requests denied because they , prompting a call to supercharge social housing stocks.
New data found 116 parole applications in Victoria were rejected last financial year because of an absence of suitable accommodation or insufficient time left on prisoners’ sentences to find appropriate alternatives.
When the curtain closed on 2022, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and technology-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) all entered respective bear markets and produced their worst returns since 2008. The abysmal performance of these core stock indexes has a lot of investors asking whether a U.S. recession is unavoidable. Unfortunately, there is no crystal ball that allows us to look into the future and know with concrete certainty whether a recession is coming.
(Bloomberg) -- Chinese stocks extended losses as tension with the US over a suspected spy balloon triggered fears of economic retaliation by the Biden administration. Most Read from BloombergTwin Quakes Kill 2,000 in Turkey and Syria; Millions Lose PowerTurkey’s South Hit by a Second High-Magnitude EarthquakeUS Moves to Recover Chinese Balloon While Weighing RetaliationChina Moves From Contrite to Confrontational Over US BalloonDell to Cut About 6,650 Jobs, Battered by Plunging PC SalesThe Hang
The recent stock market rally and whether momentum can hold up into February will be the main focus of the week ahead while investors continue to parse through a torrent of corporate financial results.
LONDON/NEW YORK (Reuters) -Hedge funds betting against stocks globally abandoned those trades last week at the fastest pace since 2015, surpassing the speed of their exodus from the meme stock frenzy two years ago, according to a Goldman Sachs research note. The latest short squeeze, implying that stock prices rose so much that bearish bets become too expensive to hold, saw hedge funds caught out by a sharp rally in equities on Feb. 2 after the U.S. Federal Reserve slowed the pace of interest rate hikes and markets anticipated that rates would peak soon. According to the Goldman note, seen by Reuters, the speed at which hedge funds exited bearish positions surpassed that seen in January 2021 when retail traders worked in concert to push shortsellers out of stocks such as videogame retailer Gamestop and movie theatre operator AMC Entertainment Holdings.
"Call of Duty: Modern Warfare II", "Warzone 2.0" and "World of Warcraft: Dragonflight" from the fantastical world of "Azeroth", helped the company hold the attention of the gaming community. Activision's results are a bright spot as some of its industry peers including Electronics Arts, Take-Two Interactive Software and Xbox maker Microsoft have reported drab results. "Our specialists have highlighted a flight to quality by gamers and that is what Activision Blizzard is experiencing," said Nicholas Cauley, an analyst at global research firm Third Bridge.
(Bloomberg) -- Taiwan’s weakening economic outlook could spell the end of a rally for the island’s currency as investors reassess optimistic wagers on China’s reopening and a recovery in global demand for semiconductors.Most Read from BloombergTwin Earthquakes Kill More Than 1,000 in Turkey and SyriaChina Moves From Contrite to Confrontational Over US BalloonUS Moves to Recover Chinese Balloon While Weighing RetaliationF-22 Makes First Air-to-Air Strike in Chinese Balloon TakedownDell to Cut Abo
The Rothschild family is planning to take its investment bank, Rothschild & Co, private in a move that values one of the most renowned names in global finance at €3.7bn. Concordia, the Rothschilds’ family holding company that owns 38.9 per cent of the shares and 47.5 per cent of the voting rights, said on Monday it was in talks with banks and investors to finance an offer for the Paris-listed group. Rothschild & Co has three divisions: global advisory, wealth and asset management, and merchant banking.
(Bloomberg) -- A US debt default would cause a spike in borrowing costs that squeezes American consumers as well as significant harm to the world economy, International Monetary Fund Managing Director Kristalina Georgieva said.Most Read from BloombergTwin Earthquakes Kill More Than 1,000 in Turkey and SyriaChina Moves From Contrite to Confrontational Over US BalloonUS Moves to Recover Chinese Balloon While Weighing RetaliationTurkey’s South Hit by a Second High-Magnitude EarthquakeDell to Cut Ab
(Bloomberg) -- Elon Musk says Twitter Inc. is “trending to breakeven” after he had to save it from “bankruptcy.”Most Read from BloombergQuake Toll Passes 3,400 in Turkey and Syria as Search ContinuesTurkey’s South Hit by a Second High-Magnitude EarthquakeUS Moves to Recover Chinese Balloon While Weighing RetaliationDell to Cut About 6,650 Jobs, Battered by Plunging PC SalesChina Moves From Contrite to Confrontational Over US BalloonThe billionaire said in a tweet Sunday that the last three month
Indian tycoon Gautam Adani and his family have posted funds to repay a $1.1bn loan backed by shares in several of his companies, as the billionaire battles to arrest a crisis that has wiped more than $100bn off the value of his business empire. One of India’s most powerful moguls, whose businesses span ports to energy to airports, Adani has been left reeling since US short seller Hindenburg accused the group of stock price manipulation and accounting fraud. Adani has denied the allegations.
Costco is known for low prices, massive warehouses, and having arguably the most restrictive credit card policy of any major retailer. While Costco stores and gas stations accept most debit cards, they only accept Visa credit cards. Most other retailers accept credit cards from all the major payment networks, which include American Express, Discover, Mastercard, and Visa.
Australian retail sales volumes fell for the first time in a year last quarter as shoppers trimmed spending on goods, a sign higher borrowing costs are finally working to curb spending. Data from the Australian Bureau of Statistics on Monday showed real retail sales dipped 0.2% in the December quarter to A$96.9 billion ($66.99 billion). The report also showed growth in retail prices was the slowest all year in the quarter, which might reassure the Reserve Bank of Australia (RBA) that its aggressive policy tightening is starting to cool demand, albeit slowly.