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Economy

Goldman Sachs cuts odds of U.S. recession to 20% on fresh data

by Walter Watson
Goldman Sachs cuts odds of U.S. recession to 20% on fresh data

Goldman Sachs has cut its probability forecast for a U.S. recession to 20% shortly after raising it, as fresh labor market data sparked a reassessment of market views on the …

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New research finds long Covid cost the Australian economy $9.6bn in 2022

by Anas Siddiqui
New research finds long Covid cost the Australian economy .6bn in 2022

Australian workers living with long Covid cost the economy nearly $10 billion during the height of the pandemic in 2022, new research has revealed. Research published in the Medical Journal …

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Australian share market on Monday reaches two-week high but China issue looms

by Anas Siddiqui
Australian share market on Monday reaches two-week high but China issue looms

More positive than gloomy financial results have dragged the Australian share market into positive territory, although serious concerns about the iron ore price loom large. Jim Chalmers raised the alarm …

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‘Malicious’: 20 fake investment scam sites pulled offline every day by Aussie business watchdog

by Anas Siddiqui
‘Malicious’: 20 fake investment scam sites pulled offline every day by Aussie business watchdog

The Australian corporate watchdog is ripping down 20 investment, phishing and cryptocurrency scam websites every day. The Australian Securities and Investments Commission kicked off an investment scam disruption crackdown last …

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Thai growth quickens in second quarter on higher consumption, tourism

by Ron Morgan
Thai growth quickens in second quarter on higher consumption, tourism

Panoramic view of urban landscape in Bangkok Thailand Primeimages | E+ | Getty Images Thailand’s economic growth strengthened in the second quarter due to higher consumption, tourism and exports, official data showed on Monday, and the …

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Camera store founder saves Booktopia from financial collapse

by Walter Watson
Camera store founder saves Booktopia from financial collapse

Beleaguered book seller Booktopia has been saved from collapse via a buyout from digiDirect founder Shant Kradjian. The book chain went into voluntary administration in July. A representative for Mr …

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‘Many facing pressures’: Westpac mortgage arrears, business lending weighs on bank’s book

by Anas Siddiqui
‘Many facing pressures’: Westpac mortgage arrears, business lending weighs on bank’s book

More mortgage holders are behind on repayments and businesses are battling falling demand as cost-of-living grinds on the Australian economy, Westpac’s latest quarterly results show. In a third quarter update …

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CNBC Daily Open: Wall Street ‘dress rehearsal’

by Walter Watson
CNBC Daily Open: Wall Street ‘dress rehearsal’

Traders work the floor of the New York Stock Exchange on August 16, 2024.  Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our …

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Where to stay and how to spend your money in Singapore

by Franz Hernandez
Where to stay and how to spend your money in Singapore

For many, Singapore — the city that inspired “Crazy Rich Asians” — is synonymous with luxury, with everything from top-tier accommodations to high-end shopping and restaurants. For the ultimate stay, …

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Another month of big spending by young West Aussies highlights challenge for Reserve Bank

by Anas Siddiqui
Another month of big spending by young West Aussies highlights challenge for Reserve Bank

Young West Australians splashing cash on travel while other generations rein in spending has highlighted the challenge the Reserve Bank faces in fighting inflation, an economist says. Bankwest has revealed …

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