Economy

China’s biggest property developer is on the brink of ruin after revealing a record first-half loss of $A11 billion. Source

China is rolling out panicked measures in a desperate bid to boost confidence as the world’s second-largest economy grapples with a drastic downturn that’s sparking fears across the globe. Source

Prime Minister Anthony Albanese has a lot to worry about, but the threat of global inflationary pressures are keeping him at night, he has revealed. Source

The downturn in China’s economy is a major concern for Australia, although it’s unlikely to trigger a local recession, Treasurer Jim Chalmers has said. Source

China is losing its economic magic. And that’s putting it in an uncomfortable position on the world stage. Source

If you’re thinking about moving to Canada any time soon, you might want to think again as residents complain about the high cost of living and inflation. Source

Australians travelling to France during the Rugby World Cup have been warned to expect increased security measures amid a rolling terrorism threat. Source

Profits have slumped at Australia’s largest company as commodity prices fall away from the heady heights of 2022 and tax and inflation burdens rise. Source

Almost 1000 businesses are closing every day on average across Australia, with the number of employers shutting up shop now reaching its highest recorded annual rate in four years. Source

The Aussie dollar may have further to fall economists have warned, as the country’s slowing economy and a deteriorating outlook in China weighs heavily on markets. Source

The ASX200 has suffered another decline after tough day half way through the earnings season, while the Aussie dollar dropped significantly after the jobless rate jumped to 3.7 per cent. Source

China’s economy is tanking. Investors are running scared. Consumers are stashing their cash. And everybody’s afraid of what Chairman Xi Jinping’s next arbitrary reaction will be. Source

An investor who successfully predicted the 2008 financial crisis, has gained attention again after betting billions on a 2023 economic catastrophe. Source

China has revealed it will now withhold data on its rising youth unemployment rate, after releasing disappointing figures on Tuesday that stoked concerns over the state of the world’s second largest economy. Source

Zoom, the video conferencing company that rose to fame during the COVID-19 pandemic, has ordered its Australian staff back to the office. Source

Hordes of Asia’s billionaires have lost vast sums amid a crisis in China’s property industry, with some losing as much as three-quarters of their fortunes. Source

Woodside Energy workers threatening to strike at the gas company’s North West Shelf Project will abandon strike plans if “a fair agreement” is struck, amid fears that Australia’s LNG exports could be stalled. Source

Australian politicians across the political spectrum were united in fury after X executives exposed contradictions in their company’s own policies on child abuse material on the global social media platform. Source

The Australian share market closed 16.10 points lower on Monday, down 0.22 per cent to 7,309.20, and recorded its lowest point in three weeks. Source

More pain could be on the way as soaring rents and higher power bills crunch household budgets despite the Reserve Bank’ warning that their fight against inflation may still have some way to run. Source