– The Australian housing market is experiencing it’s largest monthly price surge in 32 years- The Ever Given cargo ship was finally freed from the Suez Canal; it was estimated to have held up $9.6billion worth of trade- US President Joe Biden has proposed a $2.3 trillion economic stimulus package- Deloitte has acquired financial services firm Rice Warner for one-times current revenue- This week’s company spotlight examines furniture retailer Adairs Limited
– The JobKeeper wage subsidy ($93 billion) has ended today on 28th March – The RBA is pushing for an unemployment rate of 3-4% in order for wages growth to increase and inflation to return to the 2-3% target. – Blackstone has offered a takeover bid to acquire Crown Resorts at $11.85 per share. – International: There are talks of a potential acquisition of Discord by Microsoft for more than $10 billion USD – This week’s company spotlight examines Fortescue Metals Group Limited and its expansion throughout the COVID-19 pandemic.
– The government has announced to invest an additional $1.1 billion to extend Australia’s covid-19 health response- The RBA has raised concerns on house prices following the major cut in interest rates- Leaders of the US, Australia, India and Japan agreed to send 1 billion coronavirus vaccines to Asian and Pacific Island countries – This week’s company spotlight looks into AMP Limited and its performance over the last year- General Electric agreed to sell its jet-leasing business to rival AerCap Holdings
– Australia passes law that will require Facebook and Google to pay for news – First doses of the Oxford AstraZeneca vaccine has arrived in Australia- 20 million Covid vaccine doses have been administered in the UK- Private equity firm, L Catterton, is looking to acquire Birkenstock – This weeks company spotlight delves into Bega Cheese and its performance over the last 12 months.
– JobKeeper scheme to conclude on the 28th March – 80,000 Pfizer vaccines on track to be rolled out this month in Australia – Crown casino unable to operate a casino license on its new Barangaroo location after Independent Liquor and Gaming Authority commissioned a report. – School banking programs such as CommBank’s Dollarmites to be phased out – Victoria’s stage 4 lockdowns cause sharemarket to suffer, especially the travel industry- This week’s company spotlight delves into Qantas and their stock performance over the last 12 months.
Welcome back to a new year of weekly wraps! Today’s wraps covers the following highlights: – Victoria border restrictions are easing for residents in NSW – Google threatens to shut down its search engine from Australia- The Australian dollar is holding around 77.35 US cents- Buffet-backed Chinese electronic vehicles manufacturer raised A4.97 billion
NSW Covid-19 Tests Falling
-The number of daily COVID-19 tests in NSW has fallen to its lowest level since mid-July, despite health authorities insisting the virus is likely still circulating.
-Catherine Bennet (Deakin University chair of epidemiology) said a large number of tests were a necessary overkill, even if few new cases were being found.