The Australian federal budget is set to have a negative effect on local stocks – the ASX is tipped to open firmly lower at 10am local time.
There are fears the budget will lead to higher inflation, as Standard and Poors issued a negative outlook for Australia.
Yesterday the ASX closed down 1.1 per cent as US inflation jitters sparked US falls.
GLOBAL INFLATION FEARS
Concerns about rising inflation have loomed over markets for much of this year as the US economy has heated up.
Fears about a sustained jump in inflation have weighed on growth stocks, including those in the tech sector, for much of the year,.
The Australian dollar is higher at US78.45c.
Overnight, investors around the world retreated from stocks as a selloff in technology companies spread to other sectors of the market.
WHAT IS INFLATION?
Inflation occurs when prices rise, decreasing the purchasing power of your dollars. In 1980, for example, a movie ticket cost on average $2.89. By 2019, the average price of a movie ticket had risen to $9.16.
Don’t think of inflation in terms of higher prices for just one item or service, however. Inflation refers to the broad increase in prices across a sector or an industry.
Though it can be frustrating to think about your dollars losing value, most economists consider a small amount of inflation a sign of a healthy economy.
A moderate inflation rate encourages you to spend or invest your money today, rather than stuff it under your mattress and watch its value diminish.
China’s shadow banking sector under the microscope
How will China’s investigation into Zhongzhi Enterprise Group impact the shadow banking industry and the nation’s financial stability?
China has launched an investigation into the Zhongzhi Enterprise Group, a major shadow bank, over alleged financial crimes.
Authorities are scrutinizing the group’s operations amid concerns about illicit activities that may have repercussions on the country’s financial stability. #featured
Shoppers angered at major U.S. retailer’s “unchanged” Black Friday sales
Target in the United States has come under scrutiny for offering identical prices in its ‘Black Friday deals’ as those available throughout the year.
Shoppers are left perplexed by the lack of discounts, with many questioning the authenticity of the so-called Black Friday bargains.
Concerns arose when savvy consumers noticed that the prices of various products in Target’s Black Friday promotion were the same as those listed in previous months.
Shoppers took to social media to voice their frustrations, with one customer stating, “It’s the same, I don’t get it.” This revelation has raised questions about the transparency and ethics of retailers during the holiday shopping season.
While Black Friday traditionally marks the start of the holiday shopping frenzy, with retailers offering significant discounts to entice shoppers, Target’s decision to maintain regular prices has left shoppers wondering if they are truly getting a deal.
This has led to a broader discussion about the consumer experience during Black Friday and whether the shopping event has lost its original appeal.
With the rise of online shopping and increased competition among retailers, consumers are more price-conscious than ever.
Target’s pricing strategy has ignited a debate about the future of Black Friday and whether it can continue to attract shoppers with unchanged prices. As the holiday season unfolds, consumers are left to decide whether to seek out genuine deals or shop elsewhere.
Remote workers shoulder rising job-related costs
As the global workforce continues to adapt to the remote work revolution, a new concern is emerging among employees – the increasing burden of work-related expenses.
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