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Top News In வானம் செய்தி வணிக ஆசிரியர் ரோஸ் கிரீன்வுட் Today - Breaking & Trending Today

Mining industry 'booming' as copper jumps to highest level in 10 years

Sky News Business Editor Ross Greenwood says the mining industry is “booming” with copper prices jumping to the highest level in 10 years overnight and iron ore at record highs.

However, Mr Greenwood said the situation is different to the last time copper prices were above $10,000 - back in 2011 - and the Australian dollar topped out at $1.10 USD.

“There’s a few subtle differences, one is that you’re not getting the massive amount of mining development going on and so that created labour shortages but also clearly was a significant boost to Australia’s economy,” he said.

Another difference is the Reserve Bank is also deliberately trying to keep the Australian dollar down, according to Mr Greenwood.

“So the Reserve Bank is deliberately printing $200 billion at the moment … buying back bonds, stimulating the economy as a result of the recession and the pandemic,” he said.

Mr Greenwood said the Reserve Bank has been successful for n ....

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There are 'jobs around the place' as Josh Frydenberg pushes to lower jobless rate

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There are jobs around the place as Josh Frydenberg pushes to lower jobless rate29/04/2021|8min
Sky News Business Editor Ross Greenwood says Treasurer Josh Frydenberg’s pre-budget speech was aimed at lowering the unemployment rate and may lead to tax breaks for the private sector to entice the creation of jobs.
“You don’t have any population growth … so as a result of that there are jobs around the place that otherwise might have gone to people who’d come in from overseas,” he told Sky News.
“There’s a skilled labour shortage in Australia right now which is seeing some employers having to raise the wages that they’re paying to their workers in order to hang onto them.” ....

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'Throttle is wide open' for businesses and households to 'borrow and spend': Greenwood

Sky News Business Editor Ross Greenwood says the "throttle is wide open" for businesses and households to borrow and spend as the Reserve Bank continues "printing" more money and stimulating the economy.

The remarks come as Australia's inflation figures released showing 0.6 percent for the third quarter.

"The Reserve Bank will continue with its policy of printing a lot more money and putting a lot more money into the economy, stimulating the economy if you like," he told Sky News host Andrew Bolt.

"But at the same time also what it means is interest rates are likely to be lower for longer.

"If there'd been an outbreak of inflation in this number it's highly likely that, number one, our dollar would have risen, long term interest rates would have risen on money markets - and that would've been a genuine sign that something could've changed.

"This number really does reinforce the fact ....

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Property market heating up in Sydney | Sky News Australia

Property market heating up in Sydney25/04/2021|6min
Sky News Business Editor Ross Greenwood goes through this week s auction clearance results which have just come off slightly compared with the white-hot conditions that have been seen in recent weeks.
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Countries 'risk tanking' economies if taxes raised too quickly

Countries risk tanking economies if taxes raised too quickly 22/04/2021|7min
Sky News Business Editor Ross Greenwood says if countries raise taxes in the wrong area too quickly they could risk tanking their economies.
“The concept of paying for the economic stimulus is really important right now. Governments have got to be so careful,” Mr Greenwood said.
“Remember Joe Biden has just handed out the best part of $1.4 trillion on one hand and on the other hand might now be considering raising taxes in other areas.
“This is really a fine balance.”
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