David Chau
Business Reporter at ABC News (Australia)
Presenter | Journalist | Business reporter @ABCNews. All views here are my own. News tips: [email protected]
Articles
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1 month ago |
abc.net.au | David Chau
Good morning, and welcome to our blog! I'll be here to guide you through the morning's latest finance and economic news. The Australian share market is set to fall again today, with ASX futures indicating a 0.3% drop in a few hours. Investor sentiment has turned sour now that America's trade wars have officially begun. In fact, the ASX 200 has now wiped out all the gains it has made since the year began.
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1 month ago |
abc.net.au | David Chau
Coles has revealed a 3 per cent fall in half-year profit — though it is not because groceries are getting cheaper. Its statutory profit was slightly lower at $576 million, in the six months leading up to January 5. The company received a major boost from its supermarket division, which recorded a 7 per cent increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to $1.08 billion.
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2 months ago |
abc.net.au | David Chau
The head of the nation's consumer watchdog is worried that US President Donald Trump's promise to loosen cryptocurrency regulation could lead to more consumers falling victim to investment scams in Australia. "Any weakening of such regulation is of concern for us," the Australian Competition and Consumer Commission (ACCC) chair Gina Cass-Gottlieb told ABC News.
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2 months ago |
abc.net.au | David Chau
The next few weeks could end up being more exciting (or nerve-racking) than usual for people who've poured their money into the share market. Hundreds of Australian companies — from the Commonwealth Bank to Woolworths — will reveal how much money they have earned (or lost) over the past six to 12 months, as the biannual reporting season unfolds. There is no doubt company chief executives will be peppered with questions about what the future holds.
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Dec 4, 2024 |
abc.net.au | David Chau |Emilia Terzon |Michael Janda |Rhiana Whitson
There is a cold, hard truth in the most recent economic growth numbers — governments are keeping Australia out of recession. The Reserve Bank isn't cutting interest rates yet because it thinks the jobs market is still too strong (with unemployment at 4.1%), and total demand in the economy is still too high. So, on the one hand, it's hard to argue that interest rates would probably be falling by now if governments had been spending a lot less and employing fewer people.
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📣 CALL-OUT: Are you paying off a mortgage, and praying interest rates will fall? 📉 There's a chance the #RBA may cut rates at its Feb meeting, and I'm doing a TV story about it for ABC!🏚️ If you're not camera-shy, and would like to chat about it with me, please send me a DM!!🙂 https://t.co/AF6dzKqq6h
The #RBA has left interest rates on hold for more than a year (at 4.35%), and hasn't completely ruled out a rate cut in Feb 2025. Economists are betting on multiple cuts next year (something mortgage-stressed borrowers are praying for). My latest story 👇🏼 https://t.co/bz7iPIlPVJ
📈 ASIC chair Joe Longo says the surge in #Bitcoin's value is a case of the "bigger fool theory" - based on speculation that someone else will pay more than you did. The price of the OG #crypto has surged ~26,000% in ten years! My latest report 👇🏼 #btc100k https://t.co/vdlyFTFddX https://t.co/wE5Z3wyguE