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Why the Hong Kong property market could drop $20 billion… thanks to the UK

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The Chinese government crackdown on dissidents in Hong Kong could cost the property market dearly.

But no one thought it would cost 20 billion dollars, until now.

13,100 to 16,300 households are expected to move to the U.K. via their British National (Overseas) visas in 2021.

A report by Bloomberg Intelligence details the shocking figure.

Hong Kong homeowners may sell as much as HK$150 billion ($19.3 billion) worth of property this year when residents emigrate to the U.K.

The number represents 0.9% to 1.1% of households living in privately owned homes.

If all of them sell their properties to fund their move and living costs, they could generate a maximum of HK$150 billion in 2021 alone, Bloomberg estimates show.

Why is it the British government’s fault? Well the UK handed power over to China back in the 90s. The deal with China has maintained democracy in Hong Kong for 50 years.

Fast forward to 2020, and many believe China’s degradation of democracy is a sign of strength. New laws that force elected members to be “patriotic” to China replace democracy.

So the UK responded by making it easier for Hong Kong residents with BN(O) status to obtain citizenship – and now that is prompting a migration and a drop in the property market.

Property listings at Centaline, Hong Kong’s largest real estate agency, surged by 44% from a year earlier to more than 40,000 homes.

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ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

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ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.


ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

#ANZ #Banking #Jobs #Unions #Australia #Economy #TickerNews


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1 in 8 households don’t have the money to buy enough food

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Katherine Kent, University of Wollongong

Around one in eight (1.3 million) Australian households experienced food insecurity in 2023. This means they didn’t always have enough money to buy the amount or quality of food they needed for an active and healthy life.

The data, released on Friday by the Australian Bureau of Statistics (ABS), show food insecurity is now a mainstream public health and equity challenge.

When funds are tight, food budgets suffer

The main driver of food insecurity in Australia is financial pressure.

Housing costs and energy bills expenses consume much of household income, leaving food as the most flexible part of the budget.

When money runs short, families cut back on groceries, buy cheaper but less nutritious food, skip meals, or rely on food charities.

These strategies come at the expense of nutrition, health and wellbeing.

Inflation has added further pressure. The cost of food has risen substantially over the past two years, with groceries for a family of four costing around $1,000 per fortnight.

Who is most affected?

Not all households are affected equally. Single parents face the highest rates of food insecurity, with one in three (34%) struggling to afford enough food.

Families with children are more vulnerable (16%) than those without (8%).

Group households, often made up of students or young workers, are also heavily affected at 28%.

Rates are even higher for Aboriginal and Torres Strait Islander households, where 41% report food insecurity.

Income remains a defining factor. Nearly one in four (23.2% of) households in the lowest income bracket experience food insecurity, compared with just 3.6% in the highest.

These headline numbers are only part of the story. Past research shows higher risks of food insecurity for some other groups:

While the ABS survey can not provide local breakdowns, it will also be important to know which states and territories have higher rates of food insecurity, to better inform state-level responses.

What are the impacts?

Food insecurity is both a symptom and a cause of poor health.

It leads to poorer quality diets, as households cut back on fruit, vegetables and protein-rich foods that spoil quickly. Instead, they may rely on processed items that are cheaper, more filling and keep for longer.

The ongoing stress of worrying about not having enough food takes a toll on mental health and increases social isolation.

Together these pressures increase the risk of chronic diseases including diabetes, heart disease and some cancers.

For children, not having enough food affects concentration, learning and long-term development.

Breaking this cycle means recognising that improving health depends on improving food security. Left unaddressed, food insecurity deepens existing inequalities across generations.

What can we do about it?

We already know the solutions to food insecurity and they are evidence-based.

Strengthening income support by increasing the amount of JobSeeker and other government payments is crucial. This would ensure households have enough money to cover food alongside other essentials.

Investment in universal school meals, such as free lunch programs, can guarantee children at least one nutritious meal a day.

Policies that make healthy food more affordable and available in disadvantaged areas are also important, whether through subsidies, price regulation, or support for local retailers.

Community-based approaches, such as food co-operatives where members share bulk-buying power and social supermarkets that sell donated or surplus food at low cost can help people buy cheaper food. However, they cannot be a substitute for systemic reform.

Finally, ongoing monitoring of food insecurity must be embedded in national health and social policy frameworks so we can track progress over time. The last ABS data on food insecurity was collected ten years ago, and we cannot wait another decade to understand how Australians are faring.

The National Food Security Strategy is being developed by the Department of Agriculture, Fisheries and Forestry with guidance from a new National Food Council. It provides an opportunity to align these actions, set measurable targets and ensure food security is addressed at a national scale.

Food insecurity is widespread and shaped by disadvantage, with serious health consequences. The question is no longer whether food insecurity exists, but whether Australia will act on the solutions.The Conversation

Katherine Kent, Senior Lecturer in Nutrition and Dietetics, University of Wollongong

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Inflation data impacts markets as stocks reach highs

Inflation data and tariff uncertainty loom as U.S. stocks near record highs ahead of potential Federal Reserve rate cuts

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Inflation data and tariff uncertainty loom as U.S. stocks near record highs ahead of potential Federal Reserve rate cuts

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In Short:
– U.S. stock investors face crucial inflation data amidst concerns over tariffs and bond yields.
– The Federal Reserve is expected to lower interest rates following weaker job growth and trade uncertainties.
U.S. stock investors are facing a week filled with critical inflation data.
Uncertainty over tariffs and government bond yields complicates the market landscape. Despite a record high for the S&P 500 index, the recent monthly employment report revealed weaker job growth in August, prompting concerns.Banner

Investor focus turns to the upcoming U.S. consumer price index data, with implications for potential interest rate cuts.

The Federal Reserve is widely expected to reduce rates at its upcoming meeting.

Market Risks

Concerns linger around tariffs, especially after a court ruling deemed many of President Trump’s tariffs illegal.

This has muddied the decision-making for corporations and investors. Higher long-dated U.S. government debt yields, which reached 5% for the first time in over a month, have also contributed to stock market challenges.

Despite a substantial 10% rise in the S&P 500 this year, traders remain cautious as economic releases could disrupt elevated stock valuations amidst ongoing trade uncertainties.


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