Developing nations worldwide are facing structural labour shortages and budget deficits amid ageing populations. Germany has proposed raising the retirement age to 73 to avert a pension crisis: Germany has proposed raising the retirement age to 73 in an effort to prevent the collapse of its pension system. This proposal comes from a new scientific
It was going so well, and then thump! Westpac mulls what happened. Consumers appear to have been rattled by recent updates on inflation. ‘Partial’ measures released over the last month suggest annual inflation has lifted back towards the top of the RBA’s 2–3% target range. This news, and signs of firmer consumer demand and a
The federal government has effectively provided Victoria with a financial bailout by delivering the state around $7.5 billion in extra GST revenue over two years, meaning it will receive $1.07 for every dollar raised in 2025-26. Victoria’s GST ‘bailout’ has come at the expense of New South Wales, which has received a diminishing share of
The ferrous complex popped at the end of Golden Week yesterday. Pretty typical stuff. The steel profitability gap remains wide. We know a shakeout is coming for iron ore. The question is how deep it will need to be. Morgan Stanley has a crack at it. Downside risks to our long-term price target could emerge
The post Will China or BHP win the iron ore fight? appeared first on MacroBusiness.
Australia’s ‘miracle’ jobs market has been a fool’s paradise. The unprecedented boom in government-funded jobs has driven Australia’s job growth and historically low unemployment rate. The non-market sector, comprising public and private service providers that rely on government funding, accounted for around 60% of total job creation since the pandemic and nearly 80% of job
The greenback is ripping. AUD is rolling over. CNY stalled. This is not good for gold. Or the silly AI metals rush. Which is feeding RIO. EM is also a DXY downplay. Junk is cracking lower. Which is odd given yields. Bubble paused. There’s no obvious reason for the sudden volatility, except that there is
The post Australian dollar hit hard by greenback hammer appeared first on MacroBusiness.
Top Hamas official announces end to Gaza warThe organization has received “guarantees” from the US that the hostilities will not continue, Khalil al-Hayya has said
The Gaza war is over, a senior Hamas official, Khalil al-Hayya, has said, adding that the peace plan put forth by US President Donald Trump would mark the start of a “permanent ceasefire.”
Hungarian Foreign Minister Peter Szijjarto on Wednesday accused Polish Prime Minister Donald Tusk of “defending terrorists,” over comments about the sabotage of the Nord Stream gas pipelines.
Tusk had claimed the day before in a post on X that “the problem with North Stream 2 is not that it was blown up. The problem is that it was built.”
US President Donald Trump is pressuring the Norwegian government and the Nobel Committee in an unprecedented push for the Nobel Peace Prize, the Financial Times reported on Wednesday. Experts reportedly remain skeptical that the campaign will succeed, however.
The 2025 federal election campaign saw both sides admit that they wanted to see Australian home prices rise at a ‘sustainable rate’ from already record-high levels. Both Labor and the Coalition offered ‘affordability’ policies that were really aimed at pumping homebuyer demand and increasing prices. It was a theme that has been repeated throughout this
