Interest rates to rise despite RBA

first_imgExperts predict interest rate rises despite the Reserve Bank of Australia (RBA) decision. Photo: Joel Carrett.THE majority of experts in a recent survey believe financiers will increase their loan rates independent of the Reserve Bank of Australia (RBA).Ninety per cent of the 38 experts and economists surveyed by comparison website finder.com.au expect banks to up their loan rates.This is despite the Reserve Bank opting this week to keep the cash rate on hold at 1.5 per cent.When the RBA do eventually move on the cash rate, 68 per cent of those surveyed expect them to rise, with the majority believing the shift won’t come until August or November this year.REA Group chief economist Nerida Conisbee said banks and other financial institutions were expected to continue to increase rates partly because of increased wholesale costs and partly because of APRA pressures.“They will be pretty cautious about raising them but they will raise them independent of the Reserve Bank.”Finder.com.au insights manager at finder.com.au, Graham Cooke, said future hikes mean first home buyers need to be careful.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“With banks likely to lift mortgage rates out-of-cycle, the onus is on first home buyers to factor in potential rate rises to their budgets,” Mr Cooke said.“Generally, mortgage holders should account for two to three per cent on top of their current repayments to avoid rate shock.”Mr Cooke said there was an expectation the gap between the number of first homebuyer and non-first homebuyer loans will continue to widen.“This trend indicates that the market is running away from first-time buyers, as many young couples may be forced to look to the city outskirts to purchase their first home,” he said.Independent economist Saul Eslake said economic data released over the past month would have given the RBA confidence to keep rates on hold in March.“And comments by Phil Lowe over the past month clearly indicate that he has little appetite for further reductions in interest rates, in the absence of a significant negative economic shock,” Mr Eslake said.last_img read more

NASCAR driver gets kicked out of iRacing event while wearing giraffe onesie

first_imgCringe comedy, it seems, is still in vogue.MORE: How does iRacing work?”I got really hot and I sweat a lot,” DiBenedetto said to the camera before letting out an awkward chuckle.Post race recap. I do not feel very intimidating currently but you guys can still sense my rage pic.twitter.com/I8uK1lMNrr— Matt DiBenedetto (@mattdracing) April 19, 2020DiBenedetto had some fun with his DQ after completing 112 laps. Matt DiBenedetto is one misbehaved giraffe.The NASCAR driver inexplicably decided to don a full animal onesie Sunday afternoon in the iRacing Pro Series before getting booted from the event for intentionally ramming into Ryan Preece. He also recorded a bizarre video while still wearing the costume. Payback! @mattdracing has been parked after this incident with @RyanPreece_. pic.twitter.com/2lrKE6xu3O— FOX: NASCAR (@NASCARONFOX) April 19, [email protected]_ cut down on me, spun out due to it, then wrecked me intentionally for his screw up. Send me his damn address I’m ready to throw down 😂 pic.twitter.com/k5Gx5LJw58— Matt DiBenedetto (@mattdracing) April 19, 2020Matt Disqualifidetto— nascarcasm (@nascarcasm) April 19, 2020William Byron won the race at virtual Richmond. Timmy Hill finished second and Parker Kligerman came in third.Results from #ProInvitationalSeries race at virtual Richmond: pic.twitter.com/8Wu4h1dGhF— Bob Pockrass (@bobpockrass) April 19, 2020The iRacing Series has had strong early returns for NASCAR during the coronavirus pandemic, but has taken black eyes in recent weeks, most notably from Kyle Larson’s use of the N-word while on a live stream last weekend. Larson was fired by Chip Ganassi Racing as a result of the incident. He also lost his main sponsors.The next official iRacing event is scheduled for April 26, at virtual Talladega.last_img read more

9 months agoPleat reveals role in Alli Tottenham move

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Pleat reveals role in Alli Tottenham moveby Paul Vegas9 months agoSend to a friendShare the loveFormer Tottenham chief David Pleat has revealed his role in their deal for Dele Alli.Pleat convinced chairman Daniel Levy to do the deal and Alli has developed into one of Mauricio Pochettino’s most important players.He told talkSPORT: “I had seen a lot of Dele Alli and I was convinced.“I had spoken to [Spurs technical director Franco] Baldini, I spoke to all sort of people about him, I was pushing, pushing, pushing.“It wasn’t clever. He’d played about 75, 80 games regularly in men’s football for a team called MK Dons, nice people, just down the road. I saw a lot of him and I was convinced, given the opportunity, that he would do well.“So, just before the deadline on, I think it was the January, I was going to a game at Luton and it was Daniel Levy [on the phone] and Daniel said to me, ‘This boy Alli, we hear he’s going to have a medical or he’s going to talk to Villa and to Newcastle. What do you think?’“I said, ‘Mr Chairman, it’s a no brainer!’ and he said to me, ‘Yes, but they want £5m for him.’“I said, ‘Chairman, it’s a no brainer. I would take him at £5m, you can’t lose on him. If we are sympathetic, if we encourage him, I’ve got every hope for this particular boy,’ and of course he took my advice.” last_img read more

9 months agoBarcelona coach Valverde: Morata a great player

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Barcelona coach Valverde: Morata a great playerby Paul Vegas9 months agoSend to a friendShare the loveBarcelona coach Ernesto Valverde has talked up the qualities of Chelsea striker Alvaro Morata.Morata missed Saturday’s 2-1 victory over Newcastle due to “tactical reasons”.The Spaniard has been linked with a move to Nou Camp to provide support for an ageing Luis Suarez, and amid speculation over the futures of Denis Suarez and Munir El Haddadi.When asked about Morata, he said: “I can only say the same thing. That he’s a great player, that he’s at another team and that we respect that a lot.”We have to look at it, it’s clear that after Munir’s departure we have a space.”We’ll see if we can sign a player, although we have to take into account the club’s economic conditions. We will see if we can, if someone comes.” last_img read more

a month agoReal Sociedad striker Isak: I turned down Real Madrid

first_imgTagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Real Sociedad striker Isak: I turned down Real Madridby Carlos Volcanoa month agoSend to a friendShare the loveReal Sociedad striker Alexander Isak has revealed he could’ve joined Real Madrid earlier in his career.The Swede moved to La Real this summer from Borussia Dortmund.He recalled to Marca: “When I played in Stockholm, I had several options and Real Madrid was one of them.”I spoke to several clubs to understand what they proposed and I chose Dortmund and this is the most important thing. “But it is true that since I was a child, I considered the LaLiga the best in the world and I dreamed of playing here one day. I am therefore happy to participate.” last_img read more

Video: LSU Basketball’s Ben Simmons And Keith Hornsby Pushed An SUV During This Morning’s Workout

first_imgBen Simmons stands on the court with his hands on his hips.NASHVILLE, TN – MARCH 12: Ben Simmons #25 of the LSU Tigers stands on the court after being charged with a technical foul in the game against the Texas A&M Aggies during the semifinals of the SEC Tournament at Bridgestone Arena on March 12, 2016 in Nashville, Tennessee. (Photo by Andy Lyons/Getty Images)LSU should be one of the more intriguing programs during the 2015-16 college basketball season, thanks in large part to the presence of freshman forward Ben Simmons, the nation’s No. 1 recruit. Simmons and his teammates are hard at work in fall conditioning right now before practice opens up in a couple of weeks. This morning, Simmons posted video on Instagram showing himself and LSU guard Keith Hornsby pushing an SUV as part of a workout. Getting that work in this morning @khornz04A video posted by Ben Simmons (@benjaminsimmons25) on Sep 23, 2015 at 5:25am PDT Shout-out to whoever is letting the players use their SUV as workout equipment. That’s an interesting decision.last_img read more

Retailers work to attract shoppers to stores on Black Friday

first_imgNEW YORK, N.Y. – Retailers worked hard to attract shoppers to stores on Black Friday, offering in-person deals meant to counter the ease of shopping by phone on Amazon.A better economy and colder weather helped, to be sure. But stores have also tried to improve the store experience and offer better service. They’ve also made a big push toward offering store pickup for online orders, hoping to get people to pick up more items. But they’re fighting a circumstance in which online leader Amazon is the first and only stop for many shoppers.So they’re getting creative with the deals.Victor Moore said he arrived about two hours ahead of Best Buy’s 8 a.m. opening in Nashville and scored one of the about 14 “doorbuster” deals on a 55-inch Toshiba smart TV for $280, a $220 savings. Moore said he’s done some online shopping, but the allure of in-store-only deals drew him out from behind the computer.“This is the first successful doorbuster that I’ve ever been a part of,” Moore said. “I’ve been in lines before, but never actually got the items that I was waiting for.”Annette Peluffo usually avoids Black Friday and buys online. But a $250 gift card reward for buying an iPhone 8 plus at a Target store in Miami was hard to resist. She plans to use the money to buy toys for her nephews and nieces in the coming weeks. “I just came here for the iPhone. I am not going to any other store,” she said.Still, Black Friday isn’t what it used to be. It has morphed from a single day when people got up early to score doorbusters into a whole month of deals. That has thinned out the crowds. And brick-and-mortar stores face plenty of challenges.With the jobless rate at a 17-year-low of 4.1 per cent and consumer confidence stronger than a year ago, analysts project healthy sales increases for November and December. The National Retail Federation trade group expects sales for that period to at least match last year’s rise of 3.6 per cent and estimates online spending and other non-store sales will rise 11 to 15 per cent.But analysts at Bain say Amazon is expected to take half of the holiday season’s sales growth.Amazon said Friday that Thanksgiving continued to be one of its busiest shopping days, with orders through its app up over 50 per cent from a year ago. Overall, online sales on Black Friday rose 18. 4 per cent to $640 million, from a year ago, as of Friday morning, says Adobe Analytics. Thanksgiving generated a total of $2.87 billion in online spending, up 18.3 per cent from a year ago, the data firm said.About 69 per cent of Americans, or 164 million people, intend to shop at some point during the five-day period from Thanksgiving to Cyber Monday, according to a survey released by the NRF. It expected Black Friday to remain the busiest day, with about 115 million people planning to shop then.“The consumer still likes to go to the stores,” said Charles O’Shea, Moody’s lead retail analyst. “I’ve seen a lot of traffic. Yes. There’s going to be a lot of online shopping. But I think the brick and mortar stores have done a nice job so far in attracting shoppers.”That’s true of Karre Wagner, a 20-year-old University of Minnesota student from St. Paul, Minnesota, who was shopping at Mall of America in Bloomington, Minnesota, with her boyfriend. She bought a Blue-Ray player at the mall’s Best Buy store. She says she started holiday shopping on Black Friday, but she likes to go to the mall to shop.“I like to see what I’m buying. I like to touch it, feel it, know exactly what I’m getting and part of it is the experience,” she said. “I mean, sitting online is fine, but there’s just something about starting the holiday season with Black Friday.”The shift to online buying is a major factor as industry analysts watch how the nation’s malls fare this holiday shopping season. The Mall of America in Minnesota says that 2,500 people were in line at the 5 a.m. opening Friday, in line with a year ago. Shoppers started queuing up as early as 5:45 p.m. on Thanksgiving. Jill Renslow, Mall of America’s executive vice-president of business development, said stores like Nordstrom, Macy’s and Best Buy were crowded. She said the items that caught shoppers’ attention included were voice-activated devices like Amazon Echo, nostalgic toys, clothing and shoes.Macy’s CEO Jeff Gennette said customer counts are higher and business was better in the North and Northeast even with fewer promotions from a year ago.But much depends on whether people are buying or just looking, and if they’re buying things that aren’t on sale as well.Chuck Boyd said he and his son arrived at 4 a.m. as one of the first five or six in line at Best Buy in Nashville to get one each of about 14 “doorbuster” deals on a 55-inch Toshiba smart TV for $280, a $220 savings. Boyd said he never goes out for Black Friday deals and prefers online shopping. But his son wanted a TV for his apartment at school, so Boyd came along to get one too.“I’d much rather do online,” Boyd said. “But this was the deal you could only do in the store.”____Associated Press reporters Adriana Gomez Licon in Miami, Jonathan Mattise in Nashville and Jeff Baenen in Minneapolis contributed to this report.___Follow Anne D’Innocenzio at http://www.Twitter.com/adinnocenziolast_img read more

72 quake rocks Papua New Guinea

first_imgPort Moresby: A powerful but deep 7.2-magnitude earthquake rocked Papua New Guinea on Tuesday, officials said, cutting power and knocking items off shelves though there were no immediate reports of serious damage. The quake struck at a depth of 127 kilometers (80 miles) about 30 kilometers (20 miles) from the town of Bulolo at 2119 GMT Monday according to the US Geological Survey, and was felt in the capital Port Moresby about 250 kilometres away. Also Read – Saudi Crown Prince Salman ‘snubbed’ Pak PM Imran, recalled his private jet from US: ReportOfficials said there were no immediate reports of major damage and the depth of the tremor meant there was no tsunami threat. “We have no reports as yet” of serious damage, Inspector Leo Kaikas, Bulolo police station commander, told AFP. “We are still assessing the situation,” he said. Staff at Bulolo’s Pine Lodge hotel said there was very minor damage from objects falling off tables, but nothing more serious. Residents in Lae, more than 100 kilometres away, said the quake knocked things off shelves and worktops and cut electricity in some areas. Also Read – Iraq military admits ‘excessive force’ used in deadly protests”I had just woken up,” Christopher Lam, a designer who lives in the city, told AFP. “It lasted a little more than 30 seconds. We had household items knocked off their shelves and the power got cut. “Things seem to have returned to normal. No structural damage here, though I’m not sure about other buildings in the city.” There are estimated to be around 1,10,000 people living within 50 kilometers of the epicentre, according to UN data. The Moresby-based National Disaster Management office said while there were no early reports of damage, but news from the quake zone could take time to trickle in. “We are awaiting assessments,” a spokesman told AFP. The country’s rugged highlands region was hit by a 7.5-magnitude quake in February last year that buried homes and triggered landslides, killing at least 125 people. The scale of that disaster did not become apparent for days due to PNG’s poor communications and infrastructure. There are regular earthquakes in Papua New Guinea, which sits on the so-called Pacific Ring of Fire — a hotspot for seismic activity due to friction between tectonic plates. Along the South Solomon trench, an area of the Pacific that includes PNG, there have been 13 quakes of magnitude 7.5 or more recorded since 1900, according to USGS data.last_img read more

Yemen attacks kill two senior security officials

first_imgSANAA– Two senior security officials were killed in separate attacks in Yemen, security sources said. Colonel Saddam Hussein, head of security operations at the presidential palace in Taizz, was gunned down in the central Yemeni province by unidentified gunmen, a military source said.He said Hussein was refilling his car at a petrol station in Ta’izz when the gunmen shot him down before fleeing the scene, Elsewhere in the country, Abdullah Daif, a senior officer in the emergency police department, was shot dead in the central Yemeni province of Al-Bayda. The official was ambushed by gunmen on a road in the province. Yemen has been in a state of security chaos since the ouster of long-serving president Ali Abdullah Saleh in 2012. Yemeni officials blame Qaeda-linked militants for most attacks in the country.last_img read more

Ohio State mens lacrosse downs Jacksonville in Moes Southwest Grill Classic

The Ohio State men’s lacrosse team won its matchup against Jacksonville, 9-6, in the Moe’s Southwest Grill Classic in Jacksonville, Fla., on Sunday. OSU’s potent offensive play overcame the return of Jacksonville’s junior goalkeeper Pete DeLuca, improving its record to 2-0 on the season. OSU senior attacker Logan Schuss dominated against Detroit in the season opener when he recorded a career-high 10 points. Sunday’s matchup saw the goals more spread out as six different players found the back of the net. Schuss, senior co-captain midfielder Dominique Alexander and sophomore midfielder Jesse King each scored twice as OSU pulled away in the fourth quarter with a comfortable win. The two goals pushed Schuss’ total points to 12 on the season. Jacksonville was hoping its defense could keep the game close, a plan that succeeded until fatigue set in late in the fourth quarter. DeLuca, who was sidelined in the Dolphins season opener, returned with nine saves for Jacksonville and kept the game closer than the final score showed. Attempting to break a troublesome trend of letting teams outplay them early, OSU came out and doubled up the Dolphins in the first quarter, leading 4-2. The teams settled down after that point and exchanged goals back and forth, with the Buckeyes’ lead closed to one, 6-5, heading into the fourth and final period. Three goals then put things out of reach, and saw OSU head home victorious. Much improved from the first game against Detroit, the Buckeye defense took leaps and bounds toward reaching last season’s level of success, forcing 18 turnovers as junior goalkeeper Greg Dutton made nine saves. The victory was a welcome one for OSU, which is now heading into the heart of its schedule with tough games against Penn State, Denver, Virginia and Notre Dame in the coming month. Looking to build on their hot start to the year, OSU is scheduled to take on the Marquette Golden Eagles at the Woody Hayes Athletic Center Saturday at 1 p.m. read more