The Aussies who ‘may never repay debt’

The Aussies who ‘may never repay debt’

A COMFORTABLE retirement is far from reality for a significant number of older Australians, with national debt owed by those aged 75 and over now at a staggering $1.56 billion, new research has shown. An analysis of Reserve Bank of Australia (RBA) statistics by comparison website Finder.com.au found that 12 per cent of Australian households with a head-of-house over 75 are still in debt; up from 11 per cent in 2006, but steady since 2010. The worrying statistic though was the amount of money owed, with median debt doubling in…

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Iron ore to slide below $US50 in 2018, says Westpac's Justin Smirk

Iron ore to slide below $US50 in 2018, says Westpac's Justin Smirk

Iron ore is destined to retreat back below $US50 a tonne next year as supplies go on rising, according to the top forecaster, who warned that weakening prices will probably encourage the sale of inventories. The raw material will drop to average $US62 in the third quarter and $US59 in the final three months of this year before falling through 2018 to a low of $US41, said Justin Smirk, senior economist of Westpac Banking Corp. Westpac placed first in predicting prices in the first quarter, according to data compiled by Bloomberg….

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Case of Alice Springs hot air balloon death to return to court

Case of Alice Springs hot air balloon death to return to court

Posted April 24, 2017 17:37:35 Criminal proceedings over the death of a hot air balloon passenger will continue after the Northern Territory Supreme Court ruled an earlier judgement dismissing the case was wrong. Sydney woman Stephanie Bernoth, 35, suffered fatal injuries when the scarf she was wearing was sucked into an inflation fan while boarding a hot air balloon near Alice Springs in 2013. A year later, the NT Work Health Authority took the matter to court, accusing Outback Ballooning Pty Ltd of failing to comply with its duty under…

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NSW powers ahead of state economies

NSW powers ahead of state economies

NSW continues to be the top ranked economy in the nation, while elsewhere the ACT has overtaken Victoria for second place. NSW led the nation in retail spending, business investment and dwelling starts, reaffirming its place as the number one economy in Australia for almost two and a half years. The findings were in the April edition of CommSec’s State of the States quarterly report, released today. media_cameraHarbour powerhouse… NSW remains solidly on top of the nation’s economic performance rankingsThe study aims to paint a cohesive picture of the nation’s…

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Silence is golden for retailers this Anzac Day

Silence is golden for retailers this Anzac Day

Anzac Day is approaching, meaning for many a visit to the Shrine and a day off work. While many people will need to head to the shops for food and drinks, don’t expect the the supermarkets to roll out an Anzac Day campaign. The launch of the Raise a Glass initiative at the Kent Hotel in 2009. Peter Cosgrove, centre, with Stephen Finney from the RSL, Ray Kelly of Legacy and John Ston from VB.  Photo: Darren PatemanWoolworths was criticised two years ago for inviting Australians to upload photographs of individuals affected by World War…

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