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What about those unemployment figures… wow… no-one saw that coming. Most experts predicted another big loss in jobs and rise in unemployment. Instead, our unemployment rate for August fell from a 22 year high of 7.5 per cent to 6.8 per cent… experts were predicting 7.7 per cent. Around 111,000 jobs were created… or more… Read more »
Hi gang, Was chatting with my colleague, David Scutt (Scutty), from our Ausbiz streaming service during the week about all the economic data coming out and what it’s telling us about the economy going forward. I really value Scutty’s perspective because he is a good counter to my natural optimism. In his view, forget trying… Read more »
Stock of the Week #1; NextDC NXT reported a 14 per cent rise in revenue, coming in at the high end of its guidance range. Growth was driven by strong demand for capacity at its data centres. Customer numbers also surged – up by 15 per cent in the period. Spending was big in the… Read more »
Lot to get through with the release of the National Accounts … which we used to refer to as the “economic growth” figures until we didn’t grow. As expected the economy contracted 7 per cent in the June quarter, and 6.3 per cent for the year, as the economy was smashed by the impact of… Read more »
Wage growth low… and could stay that way for a while No surprises in the latest wage data with growth weak in line with the job market. What was surprising is that wage growth edged higher in the three months to June. The Wage Price Index (WPI) rose 0.2 per cent in the June quarter but over… Read more »
Online recruitment advertising business Seek announced an expected big drop in profits during the week as the jobs market around the world is in turmoil because of COVID. Seek’s annual earnings were down more than 9 per cent to a net loss of $111.7 million although revenue for the group edged slightly higher to $1.5… Read more »
This morning Reserve Bank Governor, Phillip Lowe, fronted (digitally) a parliamentary committee and had a lot to say. The highlights for me of what he said are: – The official cash rate of 0.25 per cent will stay at this level for up to 3 years. He says that will help business (and average Australians)… Read more »
I know Stock of the Week is usually a company you can buy I’ve been interested in what the experts think of the battered, iconic financial giant AMP. This week AMP came under more pressure as the huge value investor, Lazard Asset Management is no longer a substantial shareholder. Earlier this year, Lazard held over… Read more »
As Victoria starts its 6 week Stage 4 Lockdown, the Federal Government has made it easier for all Australian small businesses to access the extended JobKeeper scheme. That’s great news. As I’ve said before, and reiterated with the Federal Treasurer this morning on Sunrise, as a country we can afford to subsidise keeping people in… Read more »
Online homewares retailer Temple & Webster has had a stellar 12 months… not just increasing sales but also share price rise. This week it reported full-year revenue has spiked by almost three-quarters to $176 million, as the coronavirus lockdown played into the hands of the online retailers. Just last month, the online furniture retailer raised $40… Read more »
