(15 February 2020, AFR, p1, Sarah Turner, Reporter) ‘Upbeat company profit results, better readings from consumers and another record sharemarket high are backing the Reserve Bank’s optimistic view on the economy in the face of the threat from coronavirus and bushfires. Investors are feeling optimistic after the first big week of the interim profit season … Continue reading
토토 꽁머니-745-euro247 먹튀-906|blog|blog|blog(15 February 2020, AFR, p23, Simon Evans, Sue Mitchell, Liam Walsh, Jenny Wiggins, Yolanda Redrup and Nick Lenaghan) ‘Investors are rattled as the coronavirus outbreak keeps escalating. China represents 17 per cent of the global economy and a sudden partial freeze of its vast industrial base means testing times for Australia, one of its biggest … Continue reading
(15 February 2020, AFR, p12, Michael Smith, China Correspondent) ‘Shanghai | China reported another 121 deaths and more than 5000 new cases from the coronavirus outbreak on Friday as cities around the country tightened travel restrictions and ordered millions to stay at home, crushing confidence that the government has the health crisis under control. Japan … Continue reading
(15 February 2020, AFR, p11, Fiona Carruthers, AFR Travel Editor) ‘As the $45 billion global cruise industry continues to feel the shocks of coronavirus (COVID-19), closer to home, luxury Sydney travel agency Mary Rossi Travel spent the past week rewriting newsletters and itineraries, deftly tweaking their promoted destinations. “Australians are definitely still travelling – they’re … Continue reading
(15 February 2020, AFR, p11, Phillip Coorey, Political Editor) ‘Top universities have warned the federal government the coronavirus travel ban would cost the economy more than $1 billion, and put at risk 7500 jobs, for each 10 per cent decline in Chinese students. The figures are contained in economic modelling commissioned by the Group of … Continue reading
(15 February 2020, AFR, p10, Patrick Durkin, BOSS Deputy Editor) ‘Billions in LNG, coal and iron ore contracts with China are at risk of being re-negotiated in the wake of the coronavirus, lawyers warn as they face off over “force majeure” claims. The escalating legal drama comes as major companies including Rio Tinto, Blackmores, Cochlear … Continue reading
(15 February 2020, AFR, p3, Michael Bleby, Senior Reporter) ‘Land sales boomed in the September quarter as an unexpected pick-up in the residential housing market following the May federal election fuelled demand for lots for newly built homes, the latest industry figures show.’ Read more at AFR.com (might need AFR login access)
(12 February 2020, The Age, Business. p23, Elizabeth Knight) ‘Tuesday’s profit downgrade by Cochlear represents the second-wave impact for Australian companies in response to the coronavirus crisis. There will doubtless be more before this episode turns the corner. The first wave, which became evident in January, hit Australian companies directly exposed to China in the … Continue reading
(12 February 2020, The Age, Business, P23, By Patrick Hatch) ‘Hearing device manufacturer Cochlear is the latest major Australian company to be affected by the deadly coronavirus with the implant group taking a $30 million profit hit as surgeries are delayed across China.’ Read more at TheAge.com.au
(12 February 2020, AFR, p39, Michael Bleby, Senior Reporter) ‘New home loans grew at their fastest pace in more than three years in December, as first home buyers roared back into the market and investors joined the rush. The 4.4 per cent increase in new mortgage commitments – excluding refinancing of existing loans – was … Continue reading
(12 February 2020, AFR, p36, Nila Sweeney, Reporter) ‘Selling agents are bracing for settlement delays on residential properties, with mainland Chinese buyers blocked from travelling into the country as part of the government’s response to the coronavirus threat. Melbourne-based selling agent Jamie Mi of Kay and Burton, who specialises in overseas Chinese buyers, said while … Continue reading
(12 February 2020, AFR, p35, Michael Bleby, Senior Reporter) ‘Concerns about the supply of key building supplies such as curtain wall from China’s coronavirus-hit manufacturing industry are growing among builders in NSW, who warned clients of potential disruptions to their high-rise projects. News of the concerns about curtain wall – the plate glass windows and … Continue reading
(12 February 2020, AFR, p3, John Kehoe, Senior Writer) ‘The economic toll is mounting from the coronavirus, after hearing implant maker Cochlear cut its profit outlook due to Chinese hospitals deferring surgeries and beef exporters joined the seafood industry in bracing for weaker Chinese demand. The Morrison government is poised to extend the initial two-week … Continue reading
(12 February 2020, The Age, Business, p23, Stephen Bartholomeusz) ‘The US stockmarket hit yet another record overnight and other major markets, including the Australian exchange, are within sight of their own high points. The world must be in good shape, right? With the death toll from the coronavirus now surpassing that of the SARS epidemic … Continue reading
(11 February 2020, AFR, p35, Bloomberg, By Shawna Kwan) ‘In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This … Continue reading
(11 February 2020, AFR, p29, Michael Bleby, Senior Reporter) ‘The impact of coronavirus is spreading to global supply chains, with building contractors warning clients of potential delays on projects because factories have closed in China – the source of many building materials used in Australian projects – as a result of the respiratory disease. The … Continue reading
(11 February 2020, AFR, p25, Robert Guy, Senior Writer) ‘President Trump’s tweeting trigger finger may be called into action as the US dollar trades at a three-month high, but the greenback’s renewed strength also presents a headache for the Federal Reserve as it struggles to steer inflation back to its 2 per cent goal. The … Continue reading
(11 February 2020, AFR, p9, Se Young Lee and Stella Qiu) ‘Beijing | China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist. The virus has killed more than 900 in China and has also added to price pressures … Continue reading
(11 February 2020, AFR, p9, Michael Smith, China Correspondent) ‘Hong Kong | The death toll from China’s coronavirus outbreak has risen to more than 900, as plans to restart the world’s second-largest economy on Monday faltered. Despite hopes of a return to work, hundreds of millions were forced to stay home due to strict government … Continue reading
(11 February 2020, The Age, p24, By Dominic Powell) ‘JB Hi-Fi chief executive Richard Murray says increasing customer reliance on everyday electronics has enabled the ASX-listed company to emerge unscathed from the retail downturn after surprising investors with a bumper half-year earnings result.’ Read more at TheAge.com.au
(11 February 2020, The Age, Business, p24, Stephen Bartholomeusz) ‘If you want to track the damage being done to global economic activity and growth by the coronavirus, just keep an eye on commodity prices and declarations of force majeure by Chinese companies. Both are showing increasing signs of the stress. With one of China’s major … Continue reading
(10 February 2020, AFR, p20, William McInnes, Reporter) ‘Markets in the US shrugged off a stellar jobs number on Friday, amid continuing concerns about the global economic cost of the coronavirus outbreak. On Friday, the S&P 500 Index fell 18.1 points, or 0.5 per cent, to 3327.71 while the yield on the US 10-year Treasury … Continue reading
(10 February 2020, AFR, p20, William McInnes, Reporter) ‘Australian investors are set to look past the coronavirus fears this week with a bumper week of earnings set to get under way on Monday. Companies worth a combined $713 billion will unveil their earnings this week with the market keen to see how several fared through … Continue reading
(10 February 2020, AFR, p6, Larry Schlesinger, Reporter) ‘Auction clearance rates jumped to 80 per cent in Sydney and 75 per cent in Melbourne this week, even as listing numbers more than doubled, providing strong evidence of the strength of the rebounding housing market. In weaker markets, a rise in auction listings would normally trigger … Continue reading
(10 February 2020, CNBC online) ‘Oil prices fell to their lowest level since January 2019 on Monday on weaker Chinese demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in seeking further output cuts. Oil has dropped more than 20% from a peak in … Continue reading
(7 February 2020, AFR, p34, Larry Schlesinger, Reporter) ‘Financial Review Rich Lister Larry Kestelman says bricks-and-mortar retailing “is not dead” after leasing up almost all 6000sq m of retail space at the foot of Capitol Grand, his glitzy $700 million high-rise development nearing completion on the corner of Chapel Street and Toorak Road in Melbourne’s … Continue reading
(7 February 2020, AFR, p17, Sue Mitchell, Senior Reporter) ‘Festive foods such as crackling ham and chocolate puddings teamed with free wine glasses helped Coles convince customers to loosen the purse strings in the run-up to Christmas. Australia’s second largest supermarket upgraded profit guidance for the December half after stronger than expected food sales and … Continue reading
(7 February 2020, AFR, p16, AP) ‘Beijing | China cut tariffs on $US75 billion ($111 billion) of US imports including auto parts on Thursday in response to American reductions as part of their truce in a trade war. The cuts come as China struggles with the mounting cost of measures imposed to contain a virus … Continue reading
(7 February 2020, AFR, p15, Michael Smith, China Correspondent) ‘Shanghai | Beijing was reported to be looking at delaying the annual meeting of its top legislative body as it extended school shutdowns due to the deadly coronavirus and considered whether hundreds of millions of people would be allowed back to work next week. China recorded … Continue reading
(7 February 2020, AFR, p13, Jacob Greber, United States Correspondent) ‘Washington | Donald Trump roars into the 2020 presidential election race with one goal in mind – to make American history by becoming the first impeached president to go on and win re-election. Republicans cheered their near-complete party-line Senate acquittal on Wednesday (Thursday AEDT) of … Continue reading
(7 February 2020, AFR, p7, Matthew Cranston, Economics correspondent) ‘The number of businesses defaulting on payments jumped 29 per cent in 2019, pointing to an increase in insolvencies in the year ahead. Drawing on data from the Australian Securities and Investments Commission and Australian Financial Security Authority as well as courts and debt collectors, CreditorWatch’s … Continue reading
(7 February 2020, AFR, p1, Matthew Cranston, Sarah Turner and Sue Mitchell) ‘Surprising strong consumer spending in the final three months of 2019 has triggered investors to upgrade retail stocks and abandon calls for another interest rate cut this year. The stronger than expected growth in retail trade in the December quarter supports Reserve Bank … Continue reading
(7 February 2020, The Age, Business, p29, Ambrose Evans-Pritchard) ‘The workshop of the world is closed. China is on a total-war footing. The Communist Party has evoked the “spirit of 1937” and mobilised all the instruments of its totalitarian surveillance system to fight both coronavirus, and the truth. Make GDP forecasts if you dare. As of … Continue reading
(7 February 2020, The Age, p8, By Shane Wright) ‘The Morrison government is preparing Australians for a large hit to the economy and the budget bottom line from the coronavirus outbreak and the summer’s bushfires amid growing concern the financial hit from both will be larger than first thought. As December retail figures showed the … Continue reading
(6 February 2020, AFR, p40, Nick Lenaghan, Property Editor) ‘Deal flow in the retail property sector hit a seven-year low in 2019 with total transactions falling 22 per cent to $6.3 billion, as investors became increasingly cautious, according to JLL. As buyer sentiment weakened – a global theme – listed property trusts and unlisted funds … Continue reading
(6 February 2020, AFR, p38, Nila Sweeney, Reporter) ‘The share of pre-approved loans that failed to convert to contracted mortgages has doubled since property prices started rising in June last year as buyers struggled to find the right property amid persistently low supply. Data compiled by Digital Finance Analytics shows the proportion of mortgage committed … Continue reading
(6 February 2020, AFR, p36, Simon Evans, Senior Reporter) ‘Landlords are trimming incentives offered in the Adelaide CBD for higher quality office buildings, and conditions remain positive even though vacancy rates increased after the largest addition of stock to the market in seven years. Property Council of Australia figures show the Adelaide CBD vacancy rate … Continue reading
(6 February 2020, AFR, p36, Larry Schlesinger, Reporter) ‘The Perth CBD office vacancy rate eased back to 17.6 per cent from 18.5 per cent over the six months to January, according to Property Council figures.’ Read more at AFR.com (might need AFR login access)
(6 February 2020, AFR, p37, Michael Bleby, Senior Reporter) ‘Brisbane has yet to see an improvement in its elevated office vacancy rate, with a rise in demand for high-quality space failing to offset an increase in new supply and sinking demand for lower-quality buildings. The CBD vacancy rate rose to 12.7 per cent over the…’ … Continue reading
(6 February 2020, AFR, p36, Larry Schlesinger, Reporter) ‘Stronger demand from the public sector helped push down the overall vacancy rate in Canberra to 10.3 per cent from 11.1 per cent over the six months to January. However, the vacancy rate remains well above the 30-year historical average of about 7.5 per cent – last … Continue reading
(6 February 2020, AFR ,p37, Michael Bleby, Senior Reporter) ‘Melbourne’s CBD vacancy rate has ticked down to 3.2 per cent as the city prepares for the biggest wave of new stock in almost three decades to hit the market. The Victorian capital kept the crown of the country’s tightest office market, with the rate slipping … Continue reading
(6 February 2020, AFR, p36, Ingrid Fuary-Wagner, Reporter) ‘Sydney’s CBD office market has recorded the greatest negative demand of Australia’s capital cities in the last six months as tenants looked for space elsewhere in the city. According to the Property Council’s latest Office Market Report, rising demand in other parts of Sydney resulted in a … Continue reading
(6 February 2020, AFR, p29, Nick Lenaghan, Property Editor) ‘The Property Council of Australia’s latest Office Market Report – a key barometer for the take-up of office space around the country and ultimately for white collar employment – tells an unusual story about the two biggest markets of Sydney and Melbourne. In both markets net … Continue reading
(6 February 2020, AFR, p10, Michael Smith and Bo Seo) ‘Shanghai|Sydney | The number of people infected with the coronavirus is expected to keep rising for months as Beijing steps up measures to quarantine millions of people and one of China’s top scientists warned there was no sign of a turning point. Scientists said Thursday … Continue reading
(6 February 2020, AFR, p8, Simon Evans, Senior Reporter) ‘Australia’s new vehicle sales plunged 12.5 per cent in January as already-low levels of confidence among potential car buyers were buffeted by the fallout from bushfires, drought and the early stages of international concerns over the coronavirus outbreak. Victoria suffered one of the biggest drops as … Continue reading
(5 February 2020, The Age, p31, David Scutt) ‘The RBA has put its rose-tinted glasses back on, having temporarily removed them late last year, predicting a Goldilocks outcome of stronger economic growth, lower unemployment and a continuation of low inflation in the period ahead. The bank said in its policy announcement today it expects economic … Continue reading
(5 February 2020, The Age, Business, p24, By Dominic Powell) ‘Major online homewares and furniture retailer Temple and Webster has beaten the retail blues to report a strong result for the first half of the financial year, with potential green shoots emerging in Australia’s struggling retail landscape.’ Read more at Theage.com.au
(5 February 2020, The Age, Business, p23, Stephen Bartholomeusz) ‘The great unknowable about the impact of the coronavirus for businesses, investors and economic policymakers is just how much damage it will inflict on the global economy. That’s why the markets are gyrating, with the US stockmarket tumbling on Friday and then recovering half those losses … Continue reading
(5 February 2020, The Age, p12, By Dominic Powell) ‘Poor trading and a failed funding agreement have led to the collapse of women’s fashion retailer Colette by Colette Hayman, placing 140 stores and hundreds of jobs at risk in the ongoing brutal retail environment. The handbags, jewellery and fashion accessories brand was put in the … Continue reading
(5 February 2020, AFR, p24, Tom Richardson, Markets reporter and commentator) ‘The coronavirus has one more victim with benchmark oil prices tumbling 18 per cent over 2020 to below $US50 a barrel on Tuesday as traders worry a slowdown in China will shatter demand. The uncertainty over the virus’s ongoing impact has now sent prices … Continue reading
(4 February 2020, AFR, p34, Nick Lenaghan, Property Editor) ‘The demand for office accommodation rose 25 per cent in the last quarter compared with a year earlier, and smaller office spaces proved the most popular. Total demand hit 530,369 square metres in the fourth quarter of 2019, according to analysis by Colliers International. The appetite … Continue reading
