Economy

How the Coalition has failed on three key economic promises

Better growth, a smaller deficit and higher wages have failed to materialise, giving the lie to the Liberals’ claim to be superior managers.. Just under three years ago, Tony Abbott launched the Liberal’s 2013 election campaign. The Coalition duly swept to victory, creating a surge of optimism about the economy partly on the back of the promises made during the campaign… Source: How the Coalition has failed on three key economic promises | Stephen Koukoulas | Opinion | The Guardian Read More »

Plan to cut or scrap inheritance tax for thousands

Children inheriting family home would be exempt on first €500,000 of estate value.. Tax changes promised in the Government programme for partnership will sharply cut or eliminate completely inheritance tax for thousands of people in the coming years. Under the changes, once they are implemented, children inheriting the family… Source: Plan to cut or scrap inheritance tax for thousands Read More »

Why penalty rates are just like CEO bonuses

Company leaders defend their huge salaries by saying bonuses incentivise CEOs to perform better. Doesn’t this same principle apply all the way down to the shop assistant and their Sunday penalty rate? Source: Why penalty rates are just like CEO bonuses – The Drum (Australian Broadcasting Corporation) Read More »

Trump and Taxes

Paul Krugman 5e good photo LLLLLLLL

This seems to be the week for Trump tax mysteries. One mystery is why Donald Trump, unlike every other major party nominee in modern times, is refusing to release his tax returns. The other is why, having decided that he needs experts to clean up his ludicrous tax-cut proposals, he chose to call on the services of the gang that couldn’t think straight… Source: Trump and Taxes – The New York Times Read More »

Is oil heading for a ‘hard fall’ in the next month?

Two years of supply excess have apparently ended with a spate of supply outages. Oil price surges amid supply ‘deficit’ claims – but will the rally last? The oil price is rising again following claims from one of the most bearish forecasters in the market that supply has “flipped” into deficit in recent weeks… Source: Is oil heading for a ‘hard fall’ in the next month? | The Week UK Read More »

Greek tragedy may return to centre stage as debt matures

Major crisis unlikely, but EU may lose precious time as it frets over Brexit: Analysts While the markets have been worried about oil prices and China over the past few months, Greece could once again rear its ugly head in the months ahead. The small European country could soon run out of money, resulting in another bout of brinkmanship with the creditors triggering more market volatility… Source: Greek tragedy may return to centre stage as debt matures, Economy News & ... Read More »

How East Timor’s democracy is making it an outcast

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Five years since submitting its formal membership application to the Association of Southeast Asian Nations (ASEAN), the small Pacific country of East Timor is more determined than ever to join. It should be simple. According to ASEAN’s 1967 Bangkok Declaration, the main condition for joining the economic and political alliance is that the applicant country must be geographically located in Southeast Asia. But the 2007 ASEAN Charter introduced new… Source: How East Timor’s democracy is making it an outcast – ... Read More »

The choice for Europe: rescue Greece or create a failed state

It’s no longer about austerity. This is a battle for the soul of Europe.. Between now and mid-June the European political elite must give its answer to an existential question. Will it honour the deal it made to rescue Greece last July; or will it push the radical left government into default –effectively creating a failed state in Europe?… Source: The choice for Europe: rescue Greece or create a failed state | Paul Mason | Opinion | The Guardian Read More »

Ireland On Course to Develop Hydrocarbons, Employment

Ireland’s hydrocarbon sector is attracting an array of oil and gas industry giants in its 2015 Atlantic Margin Oil and Gas Exploration Licensing Round, with eight companies receiving new acreage in the southern Porcupine Basin as part of the first phase awards. The second, and final, phase of awards is scheduled for mid-May and will see a range of new acreage awarded to a variety of oil and gas exploration and production firms. Source: Ireland On Course to Develop Hydrocarbons, ... Read More »

Federal election 2016: Thanks for paying for my house, loser

The Prime Minister is correct. There are a lot of mum and dads with negatively geared property investments. Once upon a time, I was one of them. It was great for me. Not so much for you… Source: Federal election 2016: Thanks for paying for my house, loser Read More »

Why ‘paralysing volatility’ means trouble for Wall Street giant

There’s plenty of volatility, but what happened to the volume? From stocks to currencies and bonds, the upswing in turbulence to start the year is chasing all but the bravest traders from financial markets. Despite the recent rebound in US equities, the volume of shares traded in the S&P 500 Index is down 23 per cent. Speculative bets on the direction of currencies have also dropped to the lowest in two years, while average daily trading among dealers in US Treasuries is ... Read More »

Malcolm Turnbull defends saying wealthy parents should ‘shell out’ to buy their kid a house

Malcolm Turnbull has defended his suggestion that wealthy parents should buy their children homes to help them into the expensive housing market, with Labor accusing the multi-millionaire Prime Minister of being “out of touch.” Wealthy parents should “shell out” and buy their children houses, Mr Turnbull said in off-the-cuff remarks on Wednesday, comments which have been seized on by the opposition… Source: Malcolm Turnbull defends saying wealthy parents should ‘shell out’ to buy their kid a house Read More »

Economist Paul Craig Roberts: Greece Must Leave the Eurozone to Regain Its Sovereignty

In Greece, the Syriza-led coalition government is now set to agree to new rounds of cuts and privatizations demanded by the country’s lenders. Prior to its initial election in January 2015, Syriza had promised to abolish the country’s loan agreements and austerity policies. Now, unemployment remains at record levels, and the young and educated continue to leave the country, while recent large-scale privatizations such… Source: Economist Paul Craig Roberts: Greece Must Leave the Eurozone to Regain Its Sovereignty Read More »

Doubts rise over TTIP as France threatens to block EU-US deal

French president rejects trade pact in current form as lead negotiator blames Washington for impasse a day after leak revealed ‘irreconcilable’ differences.. Doubts about the controversial EU-US trade pact are mounting after the French president threatened to block the deal… Source: Doubts rise over TTIP as France threatens to block EU-US deal | Business | The Guardian Read More »

South Korea and Iran expected to sign major trade deals

Presidents meet in Tehran with North Korea’s nuclear disarmament a topic of discussion. South Korea and Iran are expected to sign several trade deals worth billions of dollars and discuss sensitive subjects like North Korea following President Park Geun-hye’s arrival in Tehran with a large group of business leaders… Source: South Korea and Iran expected to sign major trade deals – AJE News Read More »

Puerto Rico to default on debt payment after talks fail

Puerto Rico has halted a $422m (£289m) debt payment due on Monday after talks to ease the US territory’s crisis ended without a deal. Governor Alejandro Garcia Padilla said in a televised speech he had issued an executive order suspending payments. He described it as a “painful decision”, but had been warning since last year that… Source: Puerto Rico to default on debt payment after talks fail – BBC News Read More »