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MacroBusiness Thursday, October 1, 2020 - 09:40 Source

Sir Fomo McSpruikerson is a local billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  Frydenberg orders Parliament House to replace toilet paper with copies of Hayne Royal Commission Treasurer Josh Frydenberg has ordered all Parliament House bathrooms to replace their standard toilet paper with copies of the

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MacroBusiness Thursday, October 1, 2020 - 09:40 Source

Via The Fake Left: A former New South Wales judge has called for “independent” to be dropped from the name of the state’s planning commission after it approved the controversial Narrabri coal seam gas development, arguing the body is effectively controlled by the government. The commission on Wednesday gave what it described as “phased approval” of the

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MacroBusiness Thursday, October 1, 2020 - 09:20 Source

Iron ore prices for September 30, 2020: The whole complex launched on the Port Hedland virus scare. A big overreaction unless I’m missing something and the virus has already skipped the boat. Underneath that, the broader signals are still weakening. The Chinese steel PMI was downright poor with new orders a particular concern: With mill

The post Daily iron ore price update (bearish) appeared first on MacroBusiness.

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MacroBusiness Thursday, October 1, 2020 - 09:00 Source

DXY pumped and dumped overnight: The Australian dollar likewise: Gold too: Oil lifted: Metals bifurcated: Miners are still not well: EM stocks jumped: Junk too: And yields: Stocks added small gains: Westpac has the data wrap: Event Wrap US ADP private sector employment was stronger than expected, with a rise of 749k jobs (vs est. 649k)

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MacroBusiness Thursday, October 1, 2020 - 09:00 Source

A turgid twenty-four hours on risk markets as traders and bewildered algo’s absorbed the first US presidential debate debacle, with Wall Street finally lifting on more stimulus hopes which should translate into a somewhat positive mood here in Asia on the open. Last night saw two major releases, first German (and hence European) unemployment figures

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, October 1, 2020 - 09:00 Source

At The Australian: Scott Morrison will pour $1.5bn into revitalising Australian manufacturing through the COVID-19 economic recovery and unveil a strategy to boost large-scale production, develop new products and expand access to global ­markets. The Prime Minister will use a major pre-budget speech to ­announce a $1.3bn Modern Manufacturing Initiative that will see the government

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MacroBusiness Thursday, October 1, 2020 - 08:30 Source

Via AIG: Nothing to crow about there. Full report.

The post Manufacturing PMI back into recession appeared first on MacroBusiness.

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Cheeseburger Gothic Thursday, October 1, 2020 - 06:45 Source

We decided to evict our teenaged son… from the TV room. It had only recently occurred to me that he’d completely conquered the place. It was full of chip packets and Xbox discs. It was… not nice.

He’d been sitting with his feet up on the furniture, the way they do, and had pretty much destroyed my white leather couch.

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Your Democracy Thursday, October 1, 2020 - 05:05 Source
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MacroBusiness Thursday, October 1, 2020 - 00:20 Source

The latest private sector credit data released yesterday by the Reserve Bank of Australia revealed that the stock of personal credit collapsed by 12.5% in the year to August – the biggest plunge in recorded history: As shown above, this decline in personal credit growth dwarfs the troughs of the GFC (-7.8%) and the early

The post Aussie households pull deleveraging handbrake appeared first on MacroBusiness.

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MacroBusiness Thursday, October 1, 2020 - 00:15 Source

The Australian Bureau of Statistics (ABS) yesterday released dwelling approvals data for the month of August. At the national level, the number of dwelling approvals fell by a seasonally adjusted 1.6% to 13,691. The overall fall in approvals was driven by the volatile units & apartments segment (-11.0%), partly offset by a 4.8% increase in

The post HomeBuilder saves dwelling approvals appeared first on MacroBusiness.

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MacroBusiness Thursday, October 1, 2020 - 00:15 Source

APRA has released its August lending data which we use to track growth trends in investor loans for property. After a big monthly spike in June as the economy reopened, July and August have both disappointed. Perhaps June was pent-up demand and August will certainly be hit by the Melbourne shock. Monthly growth for the

The post Property investment lending points to further price falls appeared first on MacroBusiness.

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MacroBusiness Thursday, October 1, 2020 - 00:01 Source

Global Macro / Markets / Investing: Wall Street trader gets 5 years in prison in Ponzi scheme – Fairfield Citizen Online Insurance increasingly unaffordable as climate change brings more disasters – Market Watch The Largest Companies by Market Cap – Tech Is Eating The World – Asset Dash Why Silicon Valley CEOs are such raging

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Renew Economy Wednesday, September 30, 2020 - 23:51 Source

The future gets described in confusing ways. Things that are likely, improbable and impossible are constantly muddled. As RenewEconomy has documented for a good part of the past decade, the recent history of clean energy has sat in the middle of this muddled language. Many have peeked into the future, and declared the rapid growth...

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Renew Economy Wednesday, September 30, 2020 - 23:51 Source

China's goal is to hit net zero emissions by the year 2060, which means an incredible, deep shift in just a few decades.

The post A rapid Chinese energy transition is far more feasible than you think appeared first on RenewEconomy.

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Renew Economy Wednesday, September 30, 2020 - 23:29 Source

Hear how to make the leap to smart, sustainable transport in this first in a series of webinars to discuss the global transition to electric vehicles.

The post Webinar: The EV transition – Policy and practice appeared first on RenewEconomy.

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Your Democracy Wednesday, September 30, 2020 - 19:27 Source

debate

CLEVELAND, Ohio — CNN’s chief political correspondent Dana Bash unapologetically called Tuesday evening’s chaotic presidential debate a “s— show” live on the air.

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John Quiggin Wednesday, September 30, 2020 - 17:42 Source

Ross Gittins makes some obvious, but important, points about what is lsot when vital public services are contracted out. As he says, economists have known this since the work of Oliver Hart, last century, but it’s only now penetrating the policy establishment. In the UK, which led the charge for outsourcing under Thatcher, insourcing is the New Big Thing.

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The Australian Independent Media Network Wednesday, September 30, 2020 - 17:19 Source

September 29. Central Criminal Court, London. Julian Assange’s defence team spent the day going over, reemphasising and sharpening the focus on what awaited their client should he, with the blessing of Her Majesty’s Government, make his way to the United States. Not only will he confront 17 charges under the US Espionage Act and one…

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John Quiggin Wednesday, September 30, 2020 - 16:55 Source

Here’s an extract from my contingent* book-in-progress, Economic Consequences of the Pandemic commissioned by Yale University Press. Comments and compliments appreciated, as always.

The Covid-19 pandemic has taught us several things about inequality, or rather, it has dramatically reinforced lessons we, as a society, have failed to learn. The first is the importance of luck in determining unequal outcomes.

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MacroBusiness Wednesday, September 30, 2020 - 16:30 Source

  As markets continue to discount the shitshow that is the US presidential election, shares across Asia retreated with broad losses, as the very positive start on Monday becomes a distant memory. The USD is clawing back its recent losses on the risk aversion trade with gold moving lower to the $1886USD per ounce level:

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, September 30, 2020 - 15:24 Source

malcolm turnbull national smart energy summit - optimisedTurnbull says there is no such thing as cheap gas on the east coast of Australia, because of the cost of getting it out of the ground.

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Renew Economy Wednesday, September 30, 2020 - 15:16 Source

Former UK climate minister John Gummer says Australian politicians still haven't accepted that climate change is happening and that they have a responsibility to act. 

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Renew Economy Wednesday, September 30, 2020 - 15:13 Source

The Victorian Government is helping local businesses use more renewable energy technologies that reduce electricity costs, create jobs and support clean power.

The post Bringing clean energy to regional Victorian communities appeared first on RenewEconomy.

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Renew Economy Wednesday, September 30, 2020 - 15:08 Source

S.A-based Green Gold Energy reveals plans for two new solar farms totalling more than 300MW in south east region of state.

The post Plans revealed for two new big solar farms in South Australia appeared first on RenewEconomy.

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Renew Economy Wednesday, September 30, 2020 - 15:08 Source

AGL today announced it had completed the acquisition of Click Energy, a wholly owned subsidiary of ASX-listed amaysim Australia Limited, for $115 million

The post AGL finalises acquisition of Click Energy appeared first on RenewEconomy.

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Renew Economy Wednesday, September 30, 2020 - 15:04 Source

Regulator finalises "light touch" changes to market rules that will prevent wind and solar dropping capacity with no notice when prices go negative.

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Renew Economy Wednesday, September 30, 2020 - 14:59 Source

NSW energy minister Matt Kean. (AAP Image/Joel Carrett)NSW energy minister Matt Kean breaks ranks with federal Liberal party colleagues, saying clean energy, not gas, is key to long term Australian prosperity.

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MacroBusiness Wednesday, September 30, 2020 - 14:26 Source

See our Coronavirus data Dashboard for individual country data. COVID-19 statistics and cases around the World   India   Eastern Europe Europe’s second wave is becoming more apparent and many countries in Eastern Europe are also seeing spikes in new cases.   More COVID-19 Statistics and Analysis See our latest blog posts or podcasts here.

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MacroBusiness Wednesday, September 30, 2020 - 14:20 Source

Economist Saul Eslake has slammed the obsession with tax cuts for small businesses. Eslake believes these tax concessions have done little to boost jobs growth since they were introduced in 2015. Instead, small businesses have in fact shed jobs over the last five years. Eslake has instead called for the tax concessions to be scrapped and

The post Why small business tax cuts are a waste appeared first on MacroBusiness.

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