SYDNEY - Australia’s central bank downgraded its outlook for the national economy on Friday and warned unemployment would stay high for several years as a second wave of coronavirus infections sent the city of Melbourne back into an extended lockdown.
The Reserve Bank of Australia expects annual gross domestic product to contract by 6% this year and then slowly recover over the next couple of years. “This is not exactly a lesson for our earlier forecasts, but it does show how quickly things can change in a pandemic.”
Swatisays This is just the right look for a bank entrance. Rearrange entrances.
Good attack
All banks should look like that photo
I was here! Great city...it will persevere.
It never left
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City streets drain of life in Australia's toughest lockdownMELBOURNE, Australia (AP) — Melbourne’s usually vibrant downtown streets were draining of signs of life on Wednesday on the eve of Australia’s toughest-ever pandemic restrictions coming into... No matter how hard it may seem, but it's for the good of everyone we need to be safe, so as to achieve our ambitions later after conquering this monster! There is no pandemic in Australia, it's tyranny on steroids. Um ... Luna Park isn't exactly 'downtown' in any meaningful sense. But sure ...
Source: AP - 🏆 728. / 51 Read more »
WH Smith may cut up to 1,500 jobs as virus triggers restructuringBritish retailer WH Smith said on Wednesday it could cut up to 1,500 jobs as part of a restructuring of its UK store operations, due to significantly fewer customers at its travel and high street shops despite easing coronavirus restrictions. I know who to start with. After several years of WH Smiths containing Post Offices, it'd be weird if that suddenly inverted.
Source: Reuters - 🏆 2. / 97 Read more »
Britain's banks brace for $22 billion loan losses as outlook darkensBritain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher 'worst-case' scenarios into their risk models. They write off millions everyday! Who cares! Buy gold and silver. These banks will have to collapse or survive on their own without govt intervention if the pound is going to survive. Forgive all debt.
Source: Reuters - 🏆 2. / 97 Read more »
Fed Vice Chair Clarida still sees the economy staging a comeback this year“It will take some time, I believe, before we get back to the level of activity that we were at in February, before the pandemic hit.” Here’s Fed Vice Chair Richard Clarida’s outlook for the economy.
Source: CNBC - 🏆 12. / 72 Read more »
Asia Today: Central Japan region put under virus emergencyTOKYO (AP) — A governor in central Japan announced a state of emergency Thursday due to rising virus cases and asked businesses and people to curb their activities, especially during an upcoming... Sad But masks work? Are we forced to shut down and wear a mask by force of fines and misdemeanors for no reason? Asian countries always wear masks, so with their theory, it shouldn't have even gotten to the rest of the world. 🤔 maybe if they stopped wearing masks and started breathing air they would get fewer virus outbreaks ya know just be human
Source: AP - 🏆 728. / 51 Read more »
Hotels criticized for taking virus money face investigationSecurities regulators are investigating three hotel companies that returned tens of millions in federal virus-relief money for transactions going back to 2018 That's why any funds should go to individuals. The 'trickle up' policy works best for so many reasons. A group of hotels that took, and later returned, tens of millions of dollars in federal virus-bailout candy are under game of clue. So another group of repub. gets 10s of millions of💰. Major donor of u know benefits on the virus bill for sm. now we see y Mnuchin wanted it a secret on who got federal virus-bailout $. Group of hotels.
Source: ABC - 🏆 471. / 51 Read more »