Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Management shake up at under fire Qantas

Published

on

There’s been a management shake up at Australia’s flag carrier airline Qantas, which has come under fire for cancellations and delays

Jetstar CEO and longtime Qantas executive Gareth Evans has resigned.

He was touted as a potential replacement for controversial Qantas CEO Alan Joyce.

Gareth Evans has been with Qantas for 23 years.

He has been chief of Jetstar since 2017, but has worked across the group and has now “decided this is the right moment to move on”.

This comes as the aviation grapples with the higher fuel prices and staffing issues at airports that are affecting much of the industry globally.

Strong demand

Qantas has also updated the market, saying it’s on track to record second half earnings of just over 500 million dollars.

Underlying profit is set to return in FY23, while debt levels are now well below pre-pandemic levels.

Qantas says this is due to continued strong domestic and international travel demand.

Qantas has come under fire for long delays and cancellations
Qantas has come under fire for long delays and cancellations

After peaking at more than $6.4bn at the height of the pandemic, net debt is expected to fall to around $4bn by June 30, an improvement of around $1.5bn in the past six months.

The airline has come under sustained pressure, with many passengers complaining about long queues, cancellations and delays.

Qantas is calling for patience ahead of the winter school break rush as it hires more staff to manage increased demand at airports.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Continue Reading

Money

Trump’s tariffs disrupt Australia’s trade, impacting economy

Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

Published

on

Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

In Short

Trump’s trade tariffs threaten Australian exports, notably canola oil and beef, with China’s retaliatory export curbs exacerbating the situation.

A full trade war could drastically impact Australia’s iron ore industry and currency stability, complicating its trade relations amidst rising global competition.

Donald Trump’s new trade tariffs could have adverse effects on Australian exports, including canola oil, beef, and critical minerals.

China has implemented retaliatory export curbs on metals essential for technology, raising concerns as China controls much of the global supply. While the US may seek alternatives in countries like Australia for strategic minerals, tensions with Canada complicate this shift.

However, a full-scale trade war would negatively impact Australia’s largest commodity export, iron ore. A weakening Chinese economy could reduce demand for steel-making materials, harming Australia’s trade interests. Trump’s potential expansion of tariffs on aluminium and steel poses additional risks to local manufacturers amid fears of cheap imports undermining the market.

The beef industry could also face disruption. As the US cattle herd declines, tariffs might disrupt Australian beef exports, leading to price hikes. Conversely, Canada could increase canola exports to non-US markets, intensifying competition for Australian oilseed farmers.

Furthermore, the recent tariff announcements have caused fluctuations in the Australian dollar, which hit low levels against the US dollar initially. Subsequent relief for Canada and Mexico caused a brief recovery, yet ongoing tariff disputes could negatively impact the currency’s stability.

Continue Reading

Money

Trump’s tariffs raise prices on Chinese imports

Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

Published

on

Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

In Short

President Trump has imposed a 10% tariff on imports from China, potentially increasing costs for US consumers on electronics, clothing, cars, and appliances. The National Retail Federation urges negotiations to mitigate price hikes while analysts predict significant increases in product prices.

President Donald Trump has implemented an additional 10% tariff on imports from China, which could potentially rise further.

This move is likely to result in higher prices for various goods in the US, particularly consumer electronics, clothing and textiles, cars, and home appliances.

In 2023, the US imported $427 billion worth of goods from China. Notably, consumer electronics sales included substantial imports of cellphones and laptops. The Consumer Technology Association estimates that tariffs could raise laptop prices by up to 68%, video game consoles by 58%, and smartphones by 37%.

In clothing and textiles, imports amounted to $19.6 billion in 2023. Retailers may increase prices of apparel and accessories due to these tariffs.

Cars are affected as well, with US imports of car parts valued at $14.6 billion. Analysts suggest that domestic automakers sourcing parts from China may be compelled to raise prices.

Home appliances also face price increases. The National Retail Federation projected that the average price of a basic fridge could rise from $650 to $776.

The NRF has urged all parties to negotiate solutions to strengthen trade relations and avoid passing costs on to American consumers.

Continue Reading

Money

Cryptocurrency drops amid Trump’s trade war concerns

“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

Published

on

“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

Cryptocurrency markets have experienced a significant downturn amid concerns over ongoing trade tensions.

The fluctuations in value seem closely tied to Donald Trump’s trade policies.

Investors are reacting to uncertainty surrounding international trade agreements.

Bitcoin and other cryptocurrencies have seen sharp declines in recent days.

Analysts suggest that the instability in traditional markets is influencing investor sentiment in cryptocurrencies.

This latest slide raises questions about the resilience of digital currencies in volatile economic environments.

Market observers are monitoring the situation closely for further developments.

Traders are advised to exercise caution given the risk associated with current market conditions.

Potential impacts on the broader economy could also influence the cryptocurrency landscape.

Overall, the situation reflects growing anxiety among investors regarding future market stability.

Continue Reading

Trending Now