Business

Flatlining: China's economy has been crippled by its zero-COVID policy

Flatlining: China’s economy has been crippled by its zero-COVID policy

The crackdown on developer leverage over the past year has blocked developers from accessing financing, leaving huge numbers of unfinished homes and, because China’s developers have operated on a pre-sale model, tens of thousands of very disgruntled homebuyers who have paid for unfinished homes Houses. There are protests in the streets and escalating mortgage arrears …

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Superjumbo comeback: Airlines are still flying A380s to Australia

Superjumbo comeback: Airlines are still flying A380s to Australia

Airbus A380s, the world’s largest passenger jet, have fallen out of favor with airlines but still prove useful – and popular. Photo: AP “Too big, too expensive to operate, an anachronism” – these are some of the verdicts on the A380, the world’s largest passenger aircraft. Shortly after the A380 first took fare-paying passengers aboard …

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A stock market watcher stands in front of an ASX board.

ASX rises, Suncorp share price jumps amid ANZ takeover bid, NZ inflation hits 7.3 per cent,

Australian shares rose on Monday as comments from two Federal Reserve officials eased fears of a major rate hike this month, while Suncorp jumped after ANZ announced it would buy the insurer’s banking business. Core items: The ASX 200 is down 10.8 percent year-to-date On Friday, the Dow Jones index was up 1.9 percent, the …

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The billionaire slams Australia's obsession with property

The billionaire slams Australia’s obsession with property

“There are many people who actually have good ideas and many people who want to produce. I think what’s depressing is that the business people here are kind of letting it down.” He targets “insane” accounting standards that favor real estate and mining companies. “You can’t literally appreciate intellectual property,” he says. “We have had …

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Rising corporate profits are a key factor in Australia’s escalating inflation, the report says

Wages have had little or no impact on Australia’s inflation rate over the past three years, according to a new economic analysis from a leading think tank. While Treasurer Jim Chalmers had dismissed what he called “looming warnings” from commentators about the impact of rising wages, a report by progressive think tank Australia Institute found …

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