One of Australia’s major banks has provided additional funding for communities still overcoming the devastating impacts of last summer’s bushfire crisis. Will China’s tariffs cripple the Aussie economy’s 2021 recovery plan? A huge $56 billion was spent to save jobs when the pandemic hit. (Photo by Recep Sakar/Anadolu Agency via Getty Images) It is all too easy to fall into a trap of using a few snippets of positive economic news to declare “good times ahead”. Aussie winemakers warn that challenging China’s wine tariffs at the World Trade Organisation will not save their businesses. The NSW Premier has hinted at a rule that will change soon, and it’s set to be welcomed by operators of hospitality venues. Aussie mortgage-holders are losing thousands of dollars every year. Between ports, energy, dairy processors, cattle stations, waterfront mansions and country estates – just how much of Australia does China own? The Treasurer has hailed Australia’s economic rebound as ‘better than nearly any other country in the world’, with the recession now officially over. A Christmas luxury may become more common at the dinner table this year allowing Australians to indulge – and it’s all because of China. A group of Australians left unemployed due to the pandemic are eligible for a one-off $5000 cash payment as part of a $10m program. JobKeeper has been described as a “country-saving moment”, with a new report revealing just what role the wage subsidy played during the pandemic. Please try different keywords. One of Australia’s major wine exporters says China’s latest tariff slap will cost local jobs and hurt the ‘lifeblood’ of the industry. Aussies are upbeat about the future of the economy, with consumer sentiment improving markedly as the nation opens back up. Scott Morrison claims he’s not bothered by the UN snubbing his bid to attend a global summit just days after he said he would be there to ‘correct the record’. Nationwide News Pty Limited Copyright © 2020. China’s decision to stop taking Australian coal has seen prices plummet but China also appears to be paying a heavy price for its decision. Victorians planning to buy new digs before July are in for a sweetener under plans unveiled in Tuesday’s state budget. Australia’s alarming spat with Beijing shows no sign of slowing – and everyday Aussies could be the biggest losers if the crisis boils over. The once quiet coastal town that’s become a hotspot for the rich and famous has topped the charts for more than its celebrity status. The controversial editor of a Communist Party mouthpiece, who frequently attacks Australia, has been taken out to lunch by our ambassador in Beijing. Here’s what that means. Federal Treasurer Josh Frydenberg says Australia's economy would be $34 billion better off if the coronavirus vaccine rollout can be completed six months earlier than expected. news.com.au — Australia’s leading news site, Boost for farmers forced to destroy crops, ‘Christmas pay cut’: IR battlelines drawn, ‘Heavy price’: China’s Aussie ban backfires, ‘High alert’: China’s next Aussie targets, ‘Surprised’: Australia’s economy rebounds, Division in PM’s ranks over contentious call, One thing helping Qantas get back on its feet, Australia’s rebound ‘the best in the world’, Swipe at Treasurer for ‘congratulating himself’, ‘Un-Australian’: Workers lash Qantas cull, Australia set to fight back against China, Lifting travel ban triggers spending spree, Call for ‘nation-shaping’ migrant overhaul, PM’s ‘significant tactical error’ on China, Sydney suburbs missing out on cash windfall, ‘What’s the point?’: Karl slams trade deal, ‘Gross interference’: China slams Australia, China slaps ban on another Aussie product. Despite the latest quarterly rise, the economy contracted at a 3.8% annual pace. Euro vs. Dollar, Australia NAB business confidence rose to 12, but no improvement in employment, Aust shares steady as rush on miners eases, Business, shoppers eye end of pandemic pain, Australia business sentiment soars in November as virus restrictions ease, Business grows in confidence over recovery, China's record November will further unsettle Australia and the US, Businesses push back on Australia and New Zealand travel bans, MAGNA - Australian ad spend to lift by 11% in 2021, Coming up in Asia-Pacific trading: Japanese stimulus details, Australian business confidence, NZ's airports unlikely to recover from Covid-19 hit until late 2021 - S&P Global Ratings, Businesses pushback on Australia and New Zealand travel bans, Australia’s credit rating is irrelevant. Property prices have surprisingly lifted even after the downward spiral to the economy this year. The government used one word more than 20 times in parliament today, sparking accusations from Labor that it’s all a marketing ploy. Speculation is mounting a boost to super could be scrapped, with the government switching focus to boosting homeownership. Tens of thousands of desperate jobseekers and their families will be pushed into poverty when this ‘cruel’ measure is introduced. Aussies could be making a big mistake when it comes to bargain shopping this Christmas, paying far more than the sales price tag. One of Australia’s leading credit bureaus says the federal government should begin tapering support measures such as JobKeeper. The latest Economy news, comment and analysis from The Sydney Morning Herald covering Australian, regional and global economic © Copyright 1997 - 2020 NewsNow Publishing Limited. The CEO of a major Australian business is leading the push to boycott Chinese products amid growing tensions between the two countries. Victorian commuters can enjoy a new fleet of Australian-made trams and planet-friendly buses under plans unveiled in the state budget. Qantas has confirmed thousands of staff will lose their jobs after a decision to outsource the majority of its ground-handling operations. Australia's economy has taken the first step on the road to recovery after expanding by 3.3 per cent in the September quarter. What did we learn from the RBA last week? Australia's economy expanded by 3.3% in the three months to September, data from the Australian Bureau of Statistics (ABS) showed on Wednesday. A recovery in household spending and fixed investment, supportive fiscal and monetary policy measures, and the gradual reopening of the global economy … The economy of Australia is a highly developed mixed economy. And a huge amount of it was seemingly wasted. The Australian Bureau of Statistics has revealed the latest unemployment figures that coincide with the easing of support measures. Get the latest BBC World News: international news, features and analysis from Africa, the Asia-Pacific, Europe, Latin America, the Middle East, South Asia, and the United States and Canada. Boycott calls over Chinese-owned firms show dangerous trend, could lead to double-digit fall in Australian economy: Fran O'Sullivan: AustralianSuper should be sent packing, Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update, Australian Dollar Accelerates Up with Iron Ore Prices, Euro Capped after Post ECB Rally, Australia’s weak climate action to blame for PM’s snub at global summit, ASX retail shares gear up for Christmas boom, AUD/USD Forex Technical Analysis – Aggressive Bullish Traders Eyeing .7677 as Next Major Upside, China in 2021: agenda setting, anniversaries, and potential for conflict, Dollar Dives as Jobless Claims Surge, Euro Firm as ECB Delivers, Need to address threats of bio-terrorism: Rajnath Singh at ASEAN Defence Ministers' Meet, Reserve Bank warns of prolonged unemployment, The Australian money market just turned upside down, but there's a good reason, Some risk lengthy unemployment, RBA warns, ASX in the red, Treasury Wines drops as China imposes extra tariff, Government interest rate goes negative in $550m Treasury note sale, The CBA share price ticks green for year-to-date returns, Australian Committee calls for independent review of COVIDSafe app, Virgin Australia's future is more JetBlue than Jetstar, Consensus over: Morrison Govt IR bill is a business wish-list, Trade spat continues as Chinese embassy labels claims its breaching agreement 'totally unfounded', Japan PPI and Australia inflation expectations highlight a light economic calendar, 'India in talks with Australia for free trade pact', The strong Australian dollar means bad news — and not just because we can't go overseas, New sector data track pandemic's impact on Australian businesses, Looking at Australia's house prices you could be forgiven for wondering 'what recession? 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