Finance

Australian Dollar Falls to Four Year Low

Dorian Traill2023-03-03T00:01:37+10:00

The Aussie dollar fell to a four year low of US 86.43¢ last Friday, dropping by nearly US 8¢ for the month of September, as the US dollar is expected to rise due to stronger job data. The Reserve Bank is pushing for further drops in the local currency, saying that the lower dollar will help the country as it transitions from mining into a non mining dependent economy. Current interest rates are pegged at 2.5% to support the weaker sectors in the economy. Predictions of the AU dollar have been as low as 84¢ to the end of the [...]

Australian Dollar Falls to Four Year LowDorian Traill2023-03-03T00:01:37+10:00

G20 Finance Summit Global Targets Provide Optimism for Job Growth

Dorian Traill2023-03-03T00:01:38+10:00

Plans to meet the global target of 2% growth is underway as over 900 policy initiatives are set to add $2 trillion to the world’s economy, according to G20 finance ministers who gathered for the recently concluded G20 Finance Summit in Cairns. Treasurer Joe Hockey has praised the G20, stating that they have “embraced a once – in – a – century opportunity” as it pushes reform in international tax and the global financial system while removing barriers in investments. The G20 is supported by the International Monetary Fund, with a 1.5% to 1.9% growth expectation for the next five [...]

G20 Finance Summit Global Targets Provide Optimism for Job GrowthDorian Traill2023-03-03T00:01:38+10:00

Get in the know: 10 Things About the Current Interest Rates

Dorian Traill2023-03-03T00:01:38+10:00

The Interest Rate is currently pegged at its lowest level in history, and while the RBA is set to deliberate its fate later, here are the 10 things you need to know about the current Interest Rates: The current Interest Rate is 2.5%. It is at the lowest level in history. The Interest Rate was cited as a major driver of housing affordability in 10 years, according to the HIA-CBA Housing Affordability Index. The Interest Rates are at its current levels for over a year, when the Reserve Bank reduced it to 2.5% in August 2013. The lowest the Interest [...]

Get in the know: 10 Things About the Current Interest RatesDorian Traill2023-03-03T00:01:38+10:00

Another Financial Year Ends: Predictions For The Future

Dorian Traill2023-03-03T00:01:38+10:00

The financial year has come to an end and it is but fitting that we provide you with predictions from top economists on what to expect for the year ahead. Sharemarket predictions. NAB Chief economist Alan Oster expects sharemarket success to continue after ending the financial year up by 12%. He is predicting a 10% increase, citing the relatively weak domestic demand as a factor. Consumer predictions. With major non – mining sectors still in the recovery phase, ANZ chief economist Warren Hogan believes that additional investments and jobs will trigger increased consumer confidence. He also points out that despite [...]

Another Financial Year Ends: Predictions For The FutureDorian Traill2023-03-03T00:01:38+10:00

Credit Suisse Pleads Guilty, Slapped with $2.81 Billion Fine

Dorian Traill2023-03-03T00:01:40+10:00

Credit Suisse has entered a guilty plea to tax evasion, the first time for a major bank in 20 years for assisting clients evade United States taxes. The $2.81 billion fine is the largest penalty slapped in any tax case in history. The United States Deputy Attorney General has investigated Credit Suisse’s use of illegal offshore bank accounts to purposely avoid taxes and for assisting US citizens file fraudulent income tax returns. The United States has been hit with heavy criticism for being unable to persecute major banks that eventually caused the 2008 financial crash. This case is the first [...]

Credit Suisse Pleads Guilty, Slapped with $2.81 Billion FineDorian Traill2023-03-03T00:01:40+10:00

In 25 Years, The World Will Have Its First Trillionaire

Dorian Traill2023-03-03T00:01:40+10:00

Bill Gates is the world’s richest person, currently valued at $US120 billion. Financial forecasts show that Mr. Gates is expected to be the world’s first trillionaire in 25 years time with the assumption that their fortunes grow at their current rate. Investment bank Credit Suisse even believes that within two generations, the world will have as many as 11 trillionaires. When Forbes started tracking the richest Americans, those with $US75 million can even make the list. Now, at least $US1 billion is needed. This is because of the concentration of wealth among companies and established individuals. Other forerunners for the [...]

In 25 Years, The World Will Have Its First TrillionaireDorian Traill2023-03-03T00:01:40+10:00

Will The Tech Stock Drops Cause a Stock Market Crash?

Dorian Traill2023-03-03T00:01:40+10:00

US tech stocks plummeted to two year lows on Thursday, causing investors to draw their own speculations. Swiss investor Marc Faber went as far as saying that the recent stock drops are going to send ripples and cause a stock market crash – even worse than the one experienced in 1987. He argued that technology stocks are vulnerable as they are valued at price to sales and that they don’t have earnings. He also bashed the Federal Reserve and calls it a “clueless organization”, causing investors to lose confidence. He predicts the S&P to drop between 20% and 30%. Mr. [...]

Will The Tech Stock Drops Cause a Stock Market Crash?Dorian Traill2023-03-03T00:01:40+10:00

Co-opetition: Building Success Through the Competition

Dorian Traill2023-03-03T00:01:40+10:00

A new term is emerging for businesses for all shapes and sizes. Forget the days when businesses were built to trample the competition. Co – opetition is promoting arrangements between companies where they can access information and key practices and strategies from a competing business to survive in the market. Co – opetition is thriving for start – ups in Australia, according to Sydney technology entrepreneur Mick Liubinska. Adventure Capital founder and managing partner Stuart Richardson believes that in order to succeed in your business, it is critical that co – opetition is practiced.“As big as your dreams are and [...]

Co-opetition: Building Success Through the CompetitionDorian Traill2023-03-03T00:01:40+10:00

Bank Regulations on Credit Cards to be Scrapped by the End of the Year

Dorian Traill2023-03-03T00:01:41+10:00

The Reserve Bank has announced their decision to scrap bank regulations for credit card issuers, paving the way for competitors to issue their cards directly to consumers. This is set to take effect by the end of the year. 11 competitors are eyeing to become direct issuers of credit cards in the country. Newer payment providers have also considered issuing their versions of credit cards, such as Square, Payvision and Airplus International. The decision to remove regulations promote competition for credit card issuers. The RBA defended this decision on a statement last week, stating that a possible failure among issuers [...]

Bank Regulations on Credit Cards to be Scrapped by the End of the YearDorian Traill2023-03-03T00:01:41+10:00

Job Numbers Up For February

Dorian Traill2023-03-03T00:01:41+10:00

The unemployment rate was unchanged for last month but surprisingly, new jobs were added to the economy. 80,500 full – time jobs were added and 33,300 part time positions were scrapped. These changes for last month made February the second highest growth month on record. The trend points to more growth in full time positions, showing that the labor market is slowly recovering. The job losses in certain industries were offset by positions made available by Woolsworth, creating 6,981 jobs for their 108 new stores between 2014 and 2015. Coles will be building 70 new stores that will generate 16,000 [...]

Job Numbers Up For FebruaryDorian Traill2023-03-03T00:01:41+10:00

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