The avocado latte is indeed a thing, but young Australians are spending less on luxuries than they used to, while older Australians are spending more.
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A new Grattan Institute study finds that for the first time in a long time, young Australians are no better off than those who came before, and are likely to do worse.
Markets know what has happened each time the yield curve has turned negative. The idea of a negative curve without a a recession would take some getting used to.
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Precedent suggests that what’s happened in the US will lead to a recession, but maybe it’ll be different this time.
Failure to further strengthen the compulsory super system would be disadvantageous to many future retirees and be an added burden on a later generation of taxpayers.
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Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.
The ASX 200 slid 2.9% on Thursday amid less than completely encouraging news at home, and awful news from abroad.
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The progress we were making has been slowed or reversed, at exactly the wrong time.
Glencore’s lawyers argued anything about the company in the Paradise Papers was “privileged” and the tax office should be prevented from using that information.
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The High Court of Australia has given the Australia Taxation Office a green light to use leaked information about Glencore and offshore tax havens.
A Hong Kong pro-democracy protester on 11 August 2019.
Miguel Candela/EPA
Beijing’s view of the rule of law is very different to what most of the rest of the world understands.
Insurers have to protect themselves against foreseeable risks. For insurers of fossil fuel projects, those risks are growing.
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The decision of Suncorp to dump coal, just months after the re-election of the Morrison government, makes it clear that insurers can’t afford wishful thinking.
Survey results suggest about three-quarters of the population trust online reviews at least a moderate amount.
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Your trust in online consumer reviews may be misplaced. Check your ability to spot real from fake reviews with our quiz.
Reserve Bank Deputy Governor Guy Debelle, Governor Philip Lowe, and assistant governors Luci Ellis and Michele Bullock at Friday’s parliamentary hearing in Canberra.
Lukas Coch/AAP
The Reserve Bank’s best case scenario is that its forecasts are wrong.
Woolworths’ Ooshies promotion includes 24 different toys based on characters from the Disney film The Lion King.
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The ethics of specifically targeting children with a collectibles promotional campaign are questionable.
Trump has nobbled the umpire. The rules that have governed trade need a new line of defence.
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Illegality doesn’t matter when you’ve kneecapped the umpire who would have enforced the rules.
We are being sucked in to something Trump started.
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Australia has more to fear than most countries from a global trade and currency war. All eyes will be on the Reserve Bank governor Friday as he attempts to outline what might happen.
Barneys, Madison Avenue, New York. Department stores that were once the pinnacle of middle-class aspiration are losing out to discount shops and luxury retailers.
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Department stores are collapsing. The internet is part of the problem, but so too is the hollowing out of the middle class.
The Australian dollar has already slipped, falling to its lowest point against the US since the global financial crisis.
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President Trump’s decision to slap tariffs on US$300 billion of China’s exports has set up a currency war that has engulfed Australia.
Only more gas and less demand will shift gas prices. There’s only so much the government can do.
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Only an optimist would expect prices to fall after a series of announcements, some of which are to “consider” doing something.
The latest claim that job-seekers are actively snubbing work opportunities flies in the face of research.
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Claiming “there are jobs out there for those who want them” is cheap rhetoric glossing over the reality of unemployment.
Breast milk is far more valuable than the competitors we include in the GDP.
Catherine Constable
If breast milk was made in factories, we’d count it in the GDP.
Australia is vulnerable to any downturn in global markets due to a Chinese economic slump. But being dumped as a supplier by China is a different matter.
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China cutting coal imports from Australia by 25% would equate to every Australian having $24 less to spend a year.
Ten presidential candidates debate on July 30. Marianne Williamson, Tim Ryan, Amy Klobuchar, Pete Buttigieg, Bernie Sanders, Elizabeth Warren, Beto O'Rourke, John Hickenlooper, John Delaney, Steve Bullock.
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The winner will set the course of America for years to come.
What can be best measured gets best done, even if the scorecard is “balanced”.
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“Balanced scorecards”, of the kind countenanced by the Australian Prudential Regulation Authority, are inherently unbalanced.
Australia and Russia could soon be the last remaining developed nations without fuel efficiency standards, with New Zealand proposing new rules and financial incentives to get more people driving cleaner cars.
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New Zealand has proposed new fuel standards, along with a consumer rebates for cleaner cars – paid for by higher costs for high-polluting cars – to cut its rising transport emissions.
Australia’s Fairwork Ombudsman found wage theft in 45% of its audits In food services.
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Underpaying workers has become rampant in Australia.
All sizzle, no steak: Beyond Meat on display at Nanjing Tech Week in Nanjing, China, in June 2019.
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Meat substitutes and alternatives might play a positive role but aren’t going to save the planet.
Things were improving until 2009. HILDA finds there’s been little improvement since.
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The official figures show things are fine, but Australia’s most comprehensive tracking survey finds the typical household is worse off than ten years ago.
More than 60% of Victorian young adults live with their parents, followed by 56% in New South Wales and about 53% in the other four states. In Queensland, the proportion of young adults living at home rose from 31% in 2001 to 52% in 2017.
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In 2017, 56% of men aged 18 to 29 lived with one or both parents, up from 47% in 2001. And over the same period, the proportion of women aged 18 to 29 living with their parents rose from 36% to 54%.