The Real Issues Behind The Cash Ban

I discuss the draft legislation which was released last Friday, after hours, by Treasury, and consider the implications, with Robbie Barwick from the CEC. IOTP show: CEC Show with Helen Edwards: Treasury Document: Email: blackeconomy@treasury.gov.au with the subject line: Submission: Exposure Draft—Currency (Restrictions on the Use of Cash) Bill 2019 https://cecaust.com.au/stop-bail-in-petition Please follow and like … Read moreThe Real Issues Behind The Cash Ban

Is Retail In Recession?

Woolworths Holdings announced yesterday it will book an impairment of $437.4 million against David Jones, reducing the valuation of the department chain to about $965 million. This write down is the second since 2018. Woolworths Holdings bought the prestigious network of stores in 2014 for $2.1 billion. A Woolworths spokeswoman said This writedown reflects sustained … Read moreIs Retail In Recession?

Plainsboro, New Jersey Indian Math Tutor Suresh Rawal Charged with Aggravated Sexual Contact

Suresh Rawal (65), an Indian Math Tutor and resident of East Windsor, NJ was arrested yesterday and charged with inappropriately touching a 15-year old student. According to Middlesex County Prosecutor’s Office, Suresh Rawal inappropriately touched a 15-year-old student during a tutoring session on July 28, 2019. Suresh Rawal (Photo Courtesy – Middlesex County Prosecutor’s Office) … Read morePlainsboro, New Jersey Indian Math Tutor Suresh Rawal Charged with Aggravated Sexual Contact

Rising Household Debt May Weigh on Medium-Term Chinese Growth

Chinese household debt has continued to rise rapidly, reaching 85% of disposable income at end-2018, Fitch Ratings says in a report published today. Rising debt servicing costs do not pose near-term risks to financial stability, but will weigh on economic growth in the medium term and this is reflected in our latest GDP forecasts. Chinese … Read moreRising Household Debt May Weigh on Medium-Term Chinese Growth

Will Hurd Not Running For Reelection

Well this is going to make holding his seat significantly harder: After reflecting on how best to help our country address these challenges, I have made the decision to not seek reelection for the 23rd Congressional District of Texas in order to pursue opportunities outside the halls of Congress to solve problems at the nexus … Read moreWill Hurd Not Running For Reelection

Rishad Premji takes over as Wipro chairman

Rishad Premji took charge as the chairman of Wipro effective Wednesday. He takes over from Azim Premji who retired as chairman on July 30 after an eventful innings at the helm, transforming a small cooking oil company that his father started in 1945 into a $25-billion (Rs 1.8-lakh-crore) global IT powerhouse. Please follow and like … Read moreRishad Premji takes over as Wipro chairman

Government expands financial services inquiry

The Coalition government has expanded the inquiry into the financial services sector and the Royal Commission implementation.  From InvestorDaily Treasurer Josh Frydenberg has asked the House of Representatives Standing Committee on Economics to inquire into progress made by financial institutions in implementing the recommendations of the Hayne Royal Commission.  Ten recommendations were made by Commissioner … Read moreGovernment expands financial services inquiry

India slips to 7th largest economy in 2018: World Bank

India has been pushed to the seventh place in the global GDP rankings in 2018 with the UK and France forging ahead to the fifth and sixth spots, data compiled by the World Bank showed. In 2017, India had emerged as the sixth largest economy, while France was pushed to the seventh place in the … Read moreIndia slips to 7th largest economy in 2018: World Bank

Fed rate cut bails out Trump for policies that are slowing the economy

The Federal Reserve appears to be bailing out the president. From The US Conversation. The central bank is essentially signaling it’s now the administration’s insurer of last resort. Responding to concerns of a slowing economy – in part caused by President Donald Trump’s trade wars – the Fed cut short-term interest rates for the first … Read moreFed rate cut bails out Trump for policies that are slowing the economy