House prices are on the rise again after Scott Morrison's shock election victory erased fears of negative gearing restrictions. Median property prices rose 0.3 per cent in Sydney and 0.1 per cent in Melbourne in the week since the ballot after falls of 10 per cent this year. Buyers are flocking back to the market with the Commonwealth Bank saying it had the most home loan applications in 10 months last week. Scott Morrison promised no changes to negative gearing or capital gains discounts, which Labor promised to slash, so house prices are expected to rise Across the country, median prices fell 0.5 per cent in April with experts expecting that to level off and start rising again by July. Macquarie Bank attributed this to the election result, expected interest rate cuts, and the Australian Prudential Regulation Authority loosening loan restrictions. RELATED ARTICLES Previous 1 Next The ScoMo effect: The cities where house prices are expected... Fewer immigrants, cheaper … [Read more...] about Housing market is hit by the ‘ScoMo effect’ with the property price downturn FINALLY expected to end following the PM’s election victory
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Apple Inc's quarterly profit and revenue beat Wall Street targets on Tuesday and its forecast for fourth-quarter sales topped expectations as well, with Chief Executive Tim Cook telling Reuters that 'marked improvement in greater China' drove the results. Services revenue in the fiscal third quarter rose 12.6% to $11.46 billion, a new record, but missed expectations of $11.73 billion, according to IBES data from Refinitiv. Apple CEO Tim Cook told Reuters that after factoring out a one-time payment from lawsuits a year ago and foreign-exchange effects, the services segment growth rate would have been 18%. IPhone sales fell 12% to $25.99 billion, about in line with expectations of $25.96 billion, according to Refinitiv data. Apple Inc's quarterly profit and revenue beat Wall Street targets on Tuesday and its forecast for fourth-quarter sales topped expectations as well, with Chief Executive Tim Cook telling Reuters that 'marked improvement in greater China' drove the results … [Read more...] about Apple beats expectations with $53.8 billion in revenue last quarter and stocks up 4% – as iPhone sales now account for less than HALF of its earnings
Sajid Javid has said he has no doubt that the Conservatives, if returned to power, will agree and finalise “a very ambitious, deep and comprehensive” trade deal with the EU by the end of next year. The language is reminiscent of the Theresa May era and appears to suggest the Conservatives have pivoted away from Boris Johnson’s promise weeks ago of a “super Canada-plus” deal and are now back to close alignment with the EU – something Eurosceptics are vehemently against. Can a comprehensive deal be done by the end of 2020? The majority of commentators think this is highly unlikely, but the answer depends on the definition of a trade deal. Sam Lowe, a senior research fellow at the Centre for European Reform, is one who believes it is possible. “The single biggest underpriced thing in this whole debate about Brexit is that Johnson and the EU might actually get a trade deal done by 31 December 2020,” he said. “It’s not that I am … [Read more...] about Can a comprehensive Brexit deal be done by the end of 2020?
German Chancellor Angela Merkel said Thursday that she would not take on a senior post at the European Union after her fourth and final term ends in 2021. Merkel said she "will not be available for any political office, no matter where, not even in Europe" at a press conference with her Dutch counterpart, Prime Minister Mark Rutte, in Berlin. The chancellor had ruled out a move to the EU in October after she said that she would be stepping down at the end of her term. But she sparked a fresh wave of speculation after she told the Süddeutsche Zeitung on Thursday about her "responsibility" for Europe's future. "Many people are worried about Europe, including myself," she told the paper. "This gives me an even greater sense of responsibility to take care of the fate of this Europe of ours together with others." Merkel's friends and foes in the EU The Partner If anyone can be called Merkel's political friend, it is French President Emmanuel Macron. Like Merkel, he is an … [Read more...] about Merkel rules out top EU job after term as German chancellor ends
Theresa May is widely expected to announce on Friday that she will resign as Conservative leader, amid deep concerns among centrist cabinet ministers that candidates to be the next prime minister will have to promise a hard Brexit. May’s allies believe that she will promise to step down as leader by 10 June after the state visit of US president Donald Trump and then stay on as prime minister until her successor has been chosen. A Downing Street source said she is expected to name a date for her resignation at a meeting with Sir Graham Brady, the chair of the 1922 Committee of Tory backbenchers, on Friday morning, while staying on as prime minister for the duration of a leadership contest. “But everything remains quite fluid,” the source said. The prime minister is under pressure to set out a timetable for her departure after being told in private meetings by foreign secretary Jeremy Hunt and Sajid Javid, the home secretary, they could no longer support her Brexit … [Read more...] about Theresa May expected to name exit date on Friday