Money

Chinese gambling hub closes for Covid testing

Published

2 years ago

June 20, 2022

ticker NEWS

The world’s biggest gambling hub, Macao has began its second day of mass Covid testing

Around 600,000 residents will line up for Covid testing in the Chinese territory of Macao, where banks, schools, and businesses will shut their doors.

Most residents are being asked to stay at home, restaurants will be shut for dine-in, and border restrictions have been tightened.

It comes after dozens of locally transmitted cases were discovered over the weekend.

Casino revenues are also likely to slump for at least a week. But the city’s gambling revenue is an important source of income for Macao’s Government.

The source of this latest outbreak is still unknown, but authorities are concerned about how fast it is moving.

The city has one public hospital, which is already stretched with patients.

Lawmakers are set to amend the city’s gaming laws this week, which will set expectations for multibillion-dollar casino operators.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

3 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

3 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

4 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending