Let’s make stuff in Australia: Qenos’ last remaining manufacturing plant could be closed by as early as September as the company’s administrators prepare to hand over the site to property developers. The Australian understands final details of the closure are still to be negotiated, but industry sources say major buyers of Qenos’ products are making
On Wednesday, the Australian Bureau of Statistics (ABS) released data on dwelling approvals and completions for the March quarter of 2024. Only 39,715 dwellings were commenced in the March quarter, roughly one-third less than the 60,000 required to meet the Albanese government’s target of building 1.2 million homes over five years. Over the year to
Another mixed session on Asian markets with the surge on Wall Street overnight again not translating to further confidence in the region, with a much firmer USD not helping as European and US stock futures wobble into the London session. The USD is being pushed around by bullyboy Trump who doesn’t want a rate cut
A special Roy Morgan End of Financial Year (EOFY) webinar with Roy Morgan CEO Michele Levine and Nine Network Finance Editor Chris Kohler discussed Australian perspectives on corporate Australia, particularly the growing level of distrust across the economy. Distrust of any organisation or industry has skyrocketed since the pandemic began, when there was more trust
I keep warning that the Victorian Government’s moronic decision to proceed with the $200 billion Suburban Rail Loop (SRL) will starve the state’s residents of funding for vital infrastructure and services. Already, we are witnessing the impacts with the state government slashing funding to health clinics and hospitals. “Victoria’s priority primary care clinics are bracing
Australia welcomed an extraordinary 980,000 net overseas migrants over the last two calendar years. According to the May federal budget, net overseas migration will moderate to 395,000 in 2023-24, then 260,000 in 2024-25. The most recent statistics suggest that net overseas migration will easily exceed the federal budget’s forecast. The official quarterly net overseas migration
This stuff is completely nuts: The Greens have attacked the US alliance, claiming it increases the risk of conflict, undermines Australian sovereignty and compromises stable relations with Beijing, as the minor party ramps up calls to slash defence spending and tear up plans for nuclear-powered submarines. Defence spokesman for the minor party, David Shoebridge, said
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ANZ with the note. ANZ weekly consumer confidence is going backwards amid the first few weeks of tax cuts: Consumer confidence fell 0.5pts last week to 78.5pts. The four-week moving average fell 0.5pts to 79.8pts. •‘Weekly inflation expectations’ rose 0.2ppt to 5.1%, while its four-week moving average rose 0.1ppt to 5.0%. •‘Current financial conditions’ (over
If you want to know why it is so hard to break the hoodoo of the immigration economy, look no further than today’s CFMEU rubbish: Prime Minister Anthony Albanese and Victorian Premier Jacinta Allan were separately sent detailed evidence in 2022 that CFMEU officials were threatening extreme violence and unlawfully black-banning non-union-preferred firms from state