1. Threat of full China lockdown

The global economy, stock markets and interest rate worriers face the threat of China going back into full lockdown as Covid cases escalate.

The world economy’s prospects have lifted in recent months because China was reducing Covid lockdowns and our stock market has spiked 12% since October 3, but now a Macquarie economist says China’s infection rate is so high that another hard lockdown looks likely.

This is bad for world growth, bringing down inflation and preventing interest rate rises.         

2. Qantas profits soar

If you think flying is expensive and more challenging than ever before, well, it’s been great for the profit of Qantas

Qantas’ half-year profit came in 11% higher than expected at $1.45 billion, pushing its share price to levels  not seen since the Coronavirus threatened the business. And for those concerned about how tough flying is nowadays, I always say this when people complain about the banks: “If you don’t like the way you are treated, get even, become a bank shareholder!” The outlook for Qantas’ shares remains positive.

3. Bank executives face fines

Bank executives could have a million dollar fine problem which could hit their personal wealth.

The SMH says: “Banking executives will face fines of up to $1.1 million for failing to take reasonable steps to prevent systemic misconduct in a significant strengthening of the laws introduced in the wake of the Hayne royal commission.” Current laws hit banks, insurance companies and other finance businesses but not the actual executives. At the behest of the Greens, the federal Government is set to change that.

4. Black Friday sales to top $6 billion

Black Friday sales are tipped to top $6 billion in four days. However retailers are worried that recent interest rate rises and the surging cost of living could curtail shoppers enthusiasm for retail therapy. The SMH reports that “card spending data from the Commonwealth Bank showed a decrease in spending over the first two weeks of November, particularly for clothing, footwear and general retail, and research from the bank shows more than half of their customers plan on spending less at Christmas.”

5. Has Labor declared war on bosses and the RBA?

The Australian thinks the answer could be ‘yes’ as this story implies. “Anthony Albanese’s relationship with the private sector is disintegrating as business wages open ­warfare against plans to push through major workplace relations changes before Christmas and senior cabinet ministers publicly attack Reserve Bank governor Philip Lowe,” a team of Oz writers revealed.

And yesterday’s Qantas result seemingly hardened the Government’s resolve to push through its tough Industrial Relations bill.

“Labor MPs on Wednesday rejected Dr Lowe’s advice to make workplaces more flexible and mocked Qantas chief executive Alan Joyce, with NSW senator Tony Sheldon accusing the ­national carrier of “mongrel ­corporate gorillaship” over its treatment of workers,” The Australian contends.

Bosses have returned fire telling the Government to get the budget under control, make workplaces more productive and avoid a “painful” recession by increasing wages to keep pace with inflation.

A big anti-Government PR campaign is bound to be in the wings, which will be good for TV and radio ad revenue!