The downgrading of US debt by Standard & Poor’s may sound the starting gun for an enduring rebalancing of global economic power. For decades, investors worldwide sought the safety of US government…
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A solar energy revolution is brewing that will put the coal and nuclear industries out of business. Solar is already reaching price parity with coal in many parts of Australia. In contrast to coal and…
A new global economic order is not finally taking shape. Instead, the world economic order has been evolving over time, and it will continue to evolve into the future, more often than not, in unexpected…
German Chancellor Angela Merkel and French president Nicolas Sarkozy have overnight laid out plans for a stronger European integration that seeks to control deficit restrictions on member countries and…
The not-for-profit sector is facing the loss of a privileged exemption that allows charities to avoid paying tax on profit-making activities. Announced in May’s Budget, the changes will see not-for-profit…
Qantas has announced a sweeping review of its business that will include a new Asian premium airline, a new Japan-based low-cost carrier, a fleet overhaul and up to 1,000 job losses. Under the plans, Qantas…
The past several weeks on global financial markets has been quite some roller coaster ride. As the US flirted with the prospect of default and Standard & Poor’s downgraded the country’s credit rating…
Two types of footage illustrated news reports of the financial market turmoil last week: the unlucky teams with frozen smiles ringing the start-of-trade bell at the New York Stock Exchange, and confused…
Welcome to our “In Conversation” with AFL chief executive Andrew Demetriou and Stuart Macintyre, Professor of History at Melbourne University (and a lifelong Hawthorn supporter). The Australian Football…
In the midst of global stockmarket turmoil, talk of a double dip US recession and global downturn, focus is turning to whether the Labor federal government should stick to its promise to return Australia’s…
Amid the panic that gripped the global markets over past few weeks, there have been some further signs that Australia’s retail sector is in the midst of its own crisis. Along with a sales slump for department…
The stock market has taken us on a wild ride in recent times. Some, such as BHP Chairman Jac Nasser and Victorian Premier Ted Baillieu, have suggested that in light of the ongoing economic uncertainty…
In the face of the global financial crisis of 2008-09, the Australian Government’s overall fiscal policy response was both well-timed and well-calibrated (even if some of the specific programs within that…
In late 2008 the federal government was under some considerable pressure to abandon any plans of delivering a budget surplus in that year. I wrote an op-ed for the Australian Financial Review arguing that…
With the unfolding legal case against Securency (a subsidiary of the Reserve Bank of Australia) and the latest arrests on bribery charges, many are beginning to question the culpability of the board of…
Europe is on the decline. The US has its own problems. Meanwhile, China and India appear strong. But is it too soon pick the next global superpower? In this Q+A, Professor Geoffrey Garrett, CEO of the…
The dramatic falls in share prices of Greek debt-laden French banks overnight highlights just how closely tied the current market chaos is to the world’s worsening debt woes. Market crashes like that of…
Debates around tax are too often seen as marginal to real life and not very interesting. October’s tax forum offers an opportunity to challenge this misconception and do some hard thinking about what society…
Global share markets were faltering even before the decision by Standard & Poor’s to downgrade the US government’s debt. The slump in share markets over the past week reflects a weaker outlook for…
Think the share market volatility doesn’t affect you? Guess again. With almost 60% of Australian superannuation funds invested in shares, anyone paying compulsory super contributions has something to lose…
After falling by almost 20% in week-long sell-off, the Australian share market has bounced back and began trade today up more than 3.5%. The market’s recovery follows a strong comeback on Wall Street overnight…
If the United States thought it could stave off its day of reckoning, it was wrong. Standard & Poor’s prompt downgrade of US credit worthiness late Friday sent stock markets worldwide into a nosedive…
Without the firing of a single shot in anger, a country has been, at least in a sense, brought to its economic knees. The capitalist system, with variations and aberrations, is now reacting. Shares are…
Amidst the widening global financial turmoil, a strong Chinese economy is certainly one positive for the Australian economy. But should we believe it is only factor that will save the day? The answer is…
Federal Treasurer Wayne Swan has seized on positive comments about Australia’s economy in an International Monetary Fund report as evidence the country can endure another global financial crisis. The report…