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08 February 2018 |
An overnight plunge on Wall Street thrust The Dow Jones Industrial Average and S&P 500 into correction territory for the first time in two years at 8am (AEDT), as worries about rising interest rates and new-found volatility rattled markets again.
A shaky day in the bond market appeared to spook equity investors and pushed the Dow Jones Industrial Average down 1,032.89 points, or 4.1 per cent, to 23860.46. The plunge marks second-steepest point decline on record, after Monday’s 1,175.21-point swoon. The losses escalated into the close, with the blue-chip index falling about 450 points in the final 30 minutes of trading.
28 May 2017 |
Kelly Hughes, Charlotte Lemmon, Lexi Denison, Ainslie Couper
The Fair Work Commission, with the support of the Turnbull government, has made a hallmark decision to cut penalty and Sunday pay rates.
This decision affects those working across the retail, hospitality, fast food and pharmacy sectors and is expected to hit hundreds of thousands of low earning Australians.
17 May 2017 |
Australia's unemployment rate fell to 5.7 per cent in April, official figures show, beating expectations of a flat rate of 5.9 per cent.
The total number of people with jobs rose by 37,400 in the month, the Australian Bureau of Statistics said on Thursday.
16 May 2017 |
Australian politics is now a race to the bottom of the economic canyon.
Bill Shorten’s budget reply speech tonight crystallised the dangerous new political reality in Australia.
16 May 2017 |
Real wage growth has fallen into negative territory and stalled at an all-time low, figures to be released on Wednesday are expected to show, as workers receive pay rises that have failed to keep up with the cost of living.
10 May 2017 |
Labor will put higher education at the centre of its response to this year's budget by announcing it will oppose all the government's major university changes, including the proposed rise in fees and slashing of the HECS repayment threshold.
09 May 2017 |
- The Medicare levy will be increased, with the revenue to fund a $22 billion National Disability Scheme.
- First home buyers will be able to use voluntary contributions to their superannuation to save for housing, as well as a new restriction on foreign property owners.
09 May 2017 |
The National Disability Insurance Scheme has been fully funded.
The fund to pay for it will be topped up with additional money generated from the increase in the Medicare Levy.
Over the forward estimates, $9.1 billion will be paid into the special account.
02 May 2017 |
Record numbers of Australian households face mortgage stress as large loans and rising interest rates start to bite, according to detailed analysis of lending, repayments and household incomes.
01 May 2017 |
After scandals in the 1990s exposed shocking labour conditions in its supply chain, these days jeans brand Levi’s wears a commitment to ethical sourcing that you’d think would save it from protestors. But not so.
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