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The 1973-74 bear market was a brutal one as investors worried about rising inflation and faltering economic activity, exacerbated by OPEC’s decision in October 1973 to stop oil exports to the United States. Move in key steps US blue-chip stock market index, S & The P 500, fell 42.6 percent in the 21 months ended September 1974. Fast forward nearly half a century, and investors are once again spooked by rising inflation and stagnating economic activity. S & The P 500 index fell 20.6 percent in the first six months of 2022, its worst first-half performance in more than 50 years. Since then, however, financial markets have strengthened strongly, with the prices of stocks, bonds and cryptocurrencies posting impressive gains. Since hitting its lowest point on June 16, S & The P 500 has gained 12.6 percent, while the tech-heavy Nasdaq has gained 16.4 percent. The only plausible explanation for this rally is that – like Corrigan – investors have formed the view that it is time to

They spent Friday celebrating the wedding of Australian Cricket captain Pat Cummins and partner Becky Boston in Byron Bay. And former cricket captain Tim Paine and wife Bonnie looked even worse to wear when they showed up for breakfast on Saturday morning after a big night of parties. The couple, who were embroiled in a sexting scandal last year, banded together as they walked hand in hand towards a local coffee shop. Former cricket captain Tim Paine and his wife Bonnie looked even worse to wear when they showed up for breakfast after Pat Cummins’ wedding to Becky Boston in Byron Bay Once at the restaurant, the couple sat on the veranda and ordered breakfast and coffee. Becky wrapped her slim body in a loose $350 gray hoodie, and black shorts. Pulling her hair back, the blonde shielded her eyes from the glare under sunglasses and completed her look with white sneakers. The couple, who were embroiled in a sexting scandal last year, banded together as they walked hand in hand

Extremely long lines at airports and at immigration and customer desks, frequent flight delays or cancellations, often at the last minute, lost baggage and now-surging fares are not limited to Qantas, or Virgin, but are commonplace globally. The airport responded by limiting the number of passengers and asking airlines to limit their ticket sales. London’s Heathrow sparked controversy this month when it capped the number of passengers to 100,000 per day and ordered airlines to halt ticket sales until mid-August. London’s second international airport, Gatwick and Amsterdam’s Schiphol, has taken similar action. The pandemic brought the global travel industry to a virtual standstill, adding to pressure on airlines around the world. Credit: AP Airlines, which are pouring capacity back into the market as demand returns at surprising speed, are now picking up capacity to bring their operations within their current capabilities. British Airways has announced plans to cut 10,000 flights bet

Australia’s rental crisis has hit another record, as tenants complain of up to 22 per cent rise in weekly payments. Domain on Thursday revealed, across Australian capital cities, median weekly rent payments are $515 for a house and $460 for a unit. That’s an increase from $460 and $410 respectively at the same time last year. Watch the latest News on Channel 7 or stream for free on 7plus >> The lack of supply in the market has contributed to rising rents, along with successive rate hikes by the Reserve Bank of Australia. The tenant bears the costs. In this week’s Reddit thread, tenants said they had been hit by increases of more than 20 percent in some cases. Someone said while they expected rents to increase, they were surprised when it jumped from $220 per week to $270 – a 22 percent increase. Others say their rents have gone up from $620 per week to $680 – but they are pragmatic about those increases. “To be honest I’m glad I got a rent increase on the first rate hike,” said

Usually, with rising energy prices, a country like Russia will increase its natural gas sales to its main customer, Europe, above the minimum contract volume. Instead, it sticks to its contract, even though it could make a lot more. At the time, it seemed that Russia was trying to force prices up. But, on the other hand, the Kremlin may have been preparing for war. Since Europe depends on Russia for 35-40 percent of its oil and natural gas, Russian President Vladimir Putin assumed that the Europeans would protest the invasion but backed out in the end. Fixated on his self-appointed mission to restore what he sees as Russia’s historic empire, he doesn’t anticipate how they will respond to the unwarranted war next door. Going forward, five factors could exacerbate the current energy crisis. 1. Putin has cut down on natural gas Putin has opened a second front in the conflict by reducing the volume of natural gas contracts Russia supplies to Europe. The aim was to prevent Europeans fro

The crisis has been driven by a wave of blackouts at the coal-fired power station in the National Electricity Market; high international prices for coal and gas exacerbated by the war in Ukraine; and rising energy demand amid cold winter weather just when the contribution of solar power is at its weakest. Clean energy ‘the greatest peace plan of all’ US Energy Secretary Jennifer Granholm said the high cost of traditional fuels – including $US5 per gallon ($1.96 per liter) for gasoline in the US – underscores the need to move more quickly to renewable energy. No country has ever been held hostage for access to the sun or the wind, he told the forum – “therefore, our move to clean energy globally could be the greatest peace plan of all”. Attending the Sydney Energy Forum were (from left) Andrew Forrest of FMG, Masatsugu Asakawa of the Asian Development Bank, US Secretary of Energy Jennifer Granholm, and Dr Fatih Birol, executive director of the International Energy Agency. Oscar Colma