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The Australian draft budget for the next fiscal year, tabled in Parliament by Chief Treasurer Josh Friedberg, was drawn up with a surplus of $7,100 million Australian dollars, corresponding to 0.4% of GDP. The surplus in the Australian draft budget is provided for the first time since the financial crisis, which became possible due to the expected increase in revenue from the export of coal and iron ore, as well as due to the planned increase in tax revenues. The draft budget is presented for the fiscal year from July 2019 to June 2020. In the next two years, Australia’s GDP growth is expected to accelerate from 2.25% to 2.75%. According to estimates by the Australian Treasurer, the budget surplus in the next fiscal year, which will end in June 2021, will increase and will be at the level of 11 billion Australian dollars.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
The dollar fell again on Tuesday as the U.S. economy drops into stagnation, while investors await the latest outlook from the Federal Reserve and the passage of the U.S. coronavirus fiscal stimulus. The dollar’s decline lifted gold prices ...
On Monday, the Australian Competition and Consumer Commission (ACCC) filed a case against Google (GOOGL) in federal court after allegations that the multinational technology company misled its consumers about the expanded use of their personal ...
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