Retail sales soared by 7.3 per cent in November after last year's easing of COVID-19 restrictions, but there are signs the subsequent emergence of the Omicron variant has since curbed spending.
Consumer confidence has fallen across Australia as a result of the rapid spread of the Omicron strain of COVID-19, potentially dampening the outlook for retail spending.
A second broad-based rally helped the ASX close the first week of 2022 slightly ahead, although the prospect of earlier rate hikes remains a worry for investors.
The surging number of omicron cases is causing unprecedented disruption to businesses, as industries from retail to hospitality are forced to shut down or scale back operations.
One of Western Australia’s most successful engineers, business leaders and philanthropists has passed away at the age of 95. True to form, he was at his desk just two days ago.
Scott Morrison says Australians have no choice but to ride out the current COVID wave with case numbers expected to spiral past 100,000 a day by the end of the week.
Investors tempered their new year enthusiasm and lowered the ASX on the second day of 2022 trade as the latest wave of coronavirus infections dominated the economic agenda in many countries.
ASX-listed Troy Resources is undertaking a $26 million recapitalisation in a bid to save the company, after conceding it had found itself in a precarious financial position.
The Australian share market has climbed to its highest level in more than four months as investors looked past surging local coronavirus cases to track gains on the US bourses.
The Australian share market has held on to steady gains despite a surge in local coronavirus cases, with investors focusing on reports about the raging Omicron variant being less severe than previous variants.
Western Australia's health system is set to come under extraordinary pressure when interstate borders reopen, even without a surge in local COVID-19 hospitalisations, doctors have warned.
Investors enjoyed their best day on the ASX in almost two weeks as the Reserve Bank gave no hint of imminent rate rises and buyers returned for CSL shares.
WA business sentiment remains higher than pre-pandemic levels and the long-term average, but higher costs and supply chain issues will continue to dominate in 2022, CCIWA reveals.
Investors found few gifts on the Australian market at the start of Christmas week as the prospect of reintroducing virus restrictions weighed on energy and bank shares.
