Money

Transatlantic pain as the pound falls to 50-year low

Published

2 years ago

September 26, 2022

ticker NEWS

The pound has fallen to its lowest level against the U.S. dollar since decimalisation in 1971

The British pound has fallen more than 4 per cent before regaining some ground to $1.05.

It follows UK Chancellor Kwasi Kwarteng delivering his mini-budget, where he stood firm that the UK can’t borrow forever.

“Our plan is to expand the supply side of the economy through tax incentives and reform,” he said.

Historic tax cuts funded by huge increases in borrowing were at the centre of the budget. It’s understood the permanent tax cuts are nearly 2 per cent of overall gross domestic product.

“We’ve got to grow the economy. We’ve got to have a much more front-footed approach to growth” Kwarteng said.

If the pound stays at this low level against the dollar,

The record drop could mean some imports of commodities, which are priced in dollars could be felt across the UK, including purchases of oil and gas.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 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

5 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

6 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