Economy

Canva’s $US1b valuation a boost for start-up nation

Canva’s $US1b valuation a boost for start-up nation

The high-profile capital raising by online design and publishing platform Canva is a timely reminder of the power of digital marketing to transform a great idea into a global business.  Canva could easily become Australia’s national start-up champion given its long list of achievements in such a short space of time.  The $US1 billion valuation of the company inherent […]

Global correction overdue, warns Citigroup

Global correction overdue, warns Citigroup

The air is becoming treacherously thin for global asset markets at the peak of the cycle and investors should cut their exposure before central banks shut off emergency stimulus, Citigroup’s star economist has warned.  Willem Buiter, the bank’s chief economist and a leading theorist on monetary policy, said: “There are clearly signs of late-cycle froth […]

Cryptocurrencies and The Dangers of Hyperinflation

Cryptocurrencies and The Dangers of Hyperinflation

The biggest danger of the cryptocurrency bubble is not speculator losses but hyperinflation. As values of virtual currencies increase and they gain acceptance in commerce, the danger of hyperinflation that will damage economies worldwide is also increasing.  According to coinmarketcap.com there were 886 mineable currencies in circulation with a total capitalization of about 142.5 billion USD […]

RBA holds rates steady at 1.5%

RBA holds rates steady at 1.5%

The RBA has kept rates steady at their historical low of 1.5 per cent, as widely expected, while offering little to encourage talk the central bank will hike in 2018. Reserve Bank governor Philip Lowe continued to strike an upbeat tone on the state of the local economy, but warned that wage growth and inflation […]

Real-time payments to be launched early next Year

Real-time payments to be launched early next Year

A new payments systems is “on track” to be able to deliver real time bank transfers and the ability to ditch BSB numbers from Australia Day.  While most people take a break over summer, banks will be putting the finishing touches on the biggest overhaul in the payments system in years. removal of ATM fees Treasurer Scott Morrison […]

Bitcoin’s price drops after report China may shut down exchanges

Bitcoin’s price drops after report China may shut down exchanges

The price of bitcoin fell sharply after a report China’s regulators are planning a further crackdown on the digital currency. Bitcoin and altcoins have dropped up to 25% in hours after rumors surfaced. Local outlet Caixin is reporting the Asian country is planning to shut down local bitcoin exchanges, according to a Google translation.  Bitcoin’s price fell 7 percent […]

Australian dollar hits high of US 80 cent

Australian dollar hits high of US 80 cent

THE Australian dollar is sharply up against its US counterpart and well above the 80 US cent mark for the first time in a while.  The Australian dollar has surged against a weaker US dollar following a meeting of the European Central Bank.  The benchmark S&P/ASX200 index was down 0.24 per cent at 5,676.1 points […]

North Korea tensions spook share market

North Korea tensions spook share market

The Australian share market is trading lower at noon as the rising geopolitical tensions following North Korea’s latest nuclear test spook investors across the region.  The benchmark S&P/ASX200 stock index was down 0.39 per cent at 5,702.2 points, with all sectors other than materials, gold and telcos weaker.  Markets in Japan, South Korea, Singapore and […]

Low spending boosting the Australian Economy

Low spending boosting the Australian Economy

  Scott Morrison will today launch a strident defence of the government’s fiscal strategy, warning that an earlier than planned return­ to budget surplus risks dampening an economy that is gathering momentum for the first time in ­almost a decade.  The Treasurer will tell the Melbourne Institute/The Australian Economic and Social Outlook Conference that the turnaround […]

Housing bubble fears are overblown

Housing bubble fears are overblown

Soaring home prices in Australia’s biggest cities are driven by strong demand and a lack of supply, rather than indicating a “bubble,” according to HSBC’s local chief cconomist Paul Bloxham. “At a national level, a key reason for rising housing prices has been housing under-supply,” Bloxham writes. “This also suggests that a significant fall in prices, as occurred in […]

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