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Economy
‘Do I still have a job?’: Giant bank in chaos
Investors and employees at Swiss bank Credit Suisse are growing nervous following the news that the financial institution has collapsed. On Monday afternoon Australian time (Sunday local time), investment bank Credit Suisse announced that…
Grim warning on rate rises
The Reserve Bank says inflation is likely to remain well above target for at least two years and has warned they will do “whatever is necessary” to bring it back in line.Minutes from the central bank’s March meeting, where the board agreed…
Dutton called out for silence on Nazi rally
Peter Dutton has been urged to condemn the actions of the neo-Nazis who attended an anti-trans rally at the weekend. About 30 people from neo-Nazi group the National Socialist Network joined demonstrators outside the Victorian parliament on…
‘Lot coming at us’: Treasurer’s warning
Federal treasurer Jim Chalmers has given insight into how Australia’s soaring rate of inflation will pan out as millions continue to grapple with cost of living pressures.Mr Chalmers made the prediction while delivering a video message to…
‘Greedy’ tax cuts must go: Lambie
Anthony Albanese is facing fresh calls to dump a scheduled tax cut for the wealthy, with a key crossbencher claiming the public won’t care if he breaks a promise to keep them. Jacqui Lambie, who holds a crucial balance of power vote in the…
Union-backed bill would make it harder for industries to seek voter veto on new laws
A bill backed by labor unions and environmental groups would make it harder for industries to subject recently passed legislation to voter approval.
The bill, AB 421 by Assemblyman Isaac Bryan, D-Culver City, would make it more difficult to…
Another 9000 Amazon staff get the sack
The ‘tech wreck’ just got a whole lot worse with Amazon announcing that 9000 jobs will be slashed. It comes just two months after Amazon cut 18,000 roles, back in January, which at the time represented six per cent of Amazon’s workforce and…
Brutal post-it note sums up bank disaster
As the world reels from the shock Credit Suisse collapse, a cheeky post-it note in a Sydney office has managed to sum up the disaster in just three letters. On Monday, news broke that fellow Swiss bank UBS would take over its embattled…
Has the banking crisis started?
The controversial rescue deal for troubled lender Credit Suisse and the continuing fallout from the collapse of Silicon Valley Bank indicates the world is sliding into a crisis “far worse” than the GFC, one analyst has argued.Following…
Mattress that led to mega-bank’s demise
The $5 billion deal that will see Credit Suisse fall into the arms of arch rival UBS was a reaction to the ripples from the failure of two smaller banks in the US and jitters in the financial markets. But the seeds of the destruction of the…