Treasurer Jim Chalmers has dismissed his budget critics following a warning about the “hefty price” the world is paying for Russia’s war on Ukraine. Source
Economy
West Australian Premier Mark McGowan has warned a recession is coming next year after previously only flagging it was a risk. Source
One of the world’s biggest banks has heralded disaster for 2023 as governments battle to stem the rapidly rising inflation tide. Source
Australia’s financial sector was better equipped to deal with the Covid pandemic thanks to a suite of reforms introduced during the global financial crisis. Source
RBA boss Philip Lowe has delivered a worrying warning there could be more power price spikes on the horizon as energy providers struggle to keep up with global demand and inflation pressures. Source
A finance expert has issued a grim warning that the world economy is facing one of the toughest periods in 30 years, with another claiming we could be set to face an economic “hurricane”. Source
As the US stock market took a dive on Thursday, Aussies woke up braced for their own ASX 200 downfall. Source
It’s impossible to predict the future but there is one way to get an indication of what will happen to Australian house prices in 2023 – and that’s to look over the ditch. Source
China has ditched reporting its daily Covid case numbers, as bodies pile up in the streets and while the official death toll remains stubbornly, and implausibly, below 10. Source
Since the colonies of Australia were first federated into a modern independent nation over 120 years ago, Australia’s economic fortunes relied on exports. Source
Finnish pharmacies ran out of iodine tablets Wednesday, a day after the Finnish Health Ministry advised families that a single dose is ideal for a radiation exposure emergency following growing fears of a nuclear event following Russia’s expanding military buildup in Ukraine. “An accident at a nuclear power plant could […]
The Nord Stream gas pipeline exploded early this morning, causing a massive fire. No injuries have been reported, but the pipeline has been shut down. The cause of the explosion is not yet known, but authorities are investigating whether it was caused by sabotage. This is the second major incident […]
The European Commission is pushing for covers on discount gas costs to handle an enlarging energy emergency, as the Kremlin expressly interfaces the closure of the basic Russia-Europe Nord Stream 1 pipeline toward the West’s Ukraine-related sanctions. Moscow said the gas nozzle would stay shut until sanctions were facilitated, sending […]