Money
United Airlines set to spend a whopping $30 billion on new jets
As the travel market slowly recovers from the pandemic, many airlines are now moving ahead with new plane orders
United Airlines has been putting finishing touches to an airplane order potentially worth $30 billion.
The US-based airline is set to order 270 new narrowbody jets in a bid to secure a pandemic recovery at favourable prices – that’s according to industry experts.
The order could include up to 200 Boeing 737 MAX and around 70 Airbus A321neo.
Both jets are popular among airlines across the world, despite the MAX facing two years of grounding due to issues with a software system.
Such a deal would notionally be worth $33 billion at the most recently published list prices, but analysts say airlines typically pay less than half price for deals of this size.
None of the parties commented ahead of an announcement expected at a United investor event on Tuesday. Negotiations are complex and numbers of units can shift according to the sources.
If this deal does go ahead, it would be the aviation industry’s biggest since the coronavirus pandemic pummelled air traffic back throughout 2020 and into 2021. It would also boost confidence in air travel using the once-troubled Boeing 373 MAX, with the aircraft causing some hesitation amongst passengers.
United is considered one of the industry’s most influential buyers, who has a history of placing multi-billion dollar aircraft orders.
Money
Australia revises superannuation tax plans for fairness
Australia revamps retirement tax with new thresholds and increased support for low-income earners amid political pressure
Australia revamps retirement tax with new thresholds and increased support for low-income earners amid political pressure
– Treasurer Jim Chalmers announced a 40% tax on retirement balances over $10 million, aiding low-income earners.
– The reform improves the Low Income Superannuation Tax Offset, helping 1.3 million Australians with higher annual payments.
The announcement comes after months of political and industry pressure and represents a major shift from the original policy.
It addresses prior criticisms related to indexation and taxation of unrealised capital gains.
Under the revised policy, balances between $3 million and $10 million will face a 30 percent concessional tax rate.
Both thresholds will now be indexed to inflation to prevent bracket creep affecting middle-income Australians.
The government has also removed taxes on unrealised capital gains, with changes applying solely to realised earnings from 2026.
“This has been a contentious policy,” Chalmers stated, indicating that it affects less than 0.5 percent of Australians, with about 80,000 anticipated to have over $3 million in superannuation next year.
Key Benefits
The reform package significantly improves the Low Income Superannuation Tax Offset (LISTO).
Annual payments will rise from $500 to $810, with an increased eligibility threshold from $37,000 to $45,000 by 2027.
This adjustment will assist approximately 1.3 million Australians, mainly benefiting women.
Eligible workers could gain around $15,000 in retirement, increasing LISTO eligibility to 3.1 million Australians.
The changes could generate about $1.6 billion in net revenue by 2028-29, a decrease from the original $2.5 billion projection due to enhanced LISTO benefits and extended implementation.
Money
Bitcoin declines to $104,782 amid trade tensions
Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets
Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets
– Bitcoin dropped to $104,782 due to heightened US-China trade tensions.
– The S&P 500 Index fell over 2% amid escalating market uncertainty.
The decision follows China’s recent restrictions on rare earth mineral exports, which are crucial for various technologies and manufacturing sectors.
The trade dispute affected global markets, resulting in a more than 2% decline in the benchmark S&P 500 Index.
Bitcoin experienced an 8.4% drop at $104,782 by 17:20 ET, while Ethereum, the second-largest cryptocurrency, fell by 5.8% to $3,637 at 17:21 ET.
Money
Gold plunges as investors react to Middle East ceasefire
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.
The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.
Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.
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