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Renew Economy Tuesday, June 12, 2018 - 13:38 Source

GreenSync is pleased to announce the appointment of Mark Woodall as Chairman of the board, effective immediately.

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MacroBusiness Tuesday, June 12, 2018 - 13:28 Source

Recall from defense expert Brian Toohey two years ago: …everything is wrong about the Turnbull government’s decision to build 12 extremely large submarines in Adelaide. …The government’s refusal to go with an off-the-shelf design will cost more billions, because the first of new submarines won’t be operational until after 2030 and the last until almost 2060. This means the decrepit

The post Chris Pyne’s salary rises to $175bn appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 13:14 Source

Yes, somehow the farce has doubled in just a few days. Last week it was Twiggy Forrest importing gas to NSW. Now it’s AGL to Victoria: AGL Energy has struck several deals for its proposed liquefied natural gas import jetty at Crib Point in Victoria, which could help deliver more gas to Victoria and South

The post East coast gas farce doubles appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 12:50 Source

It’s not yet the sovereign downgrade, but it’s the pre-downgrade downgrade, from S&P: • In the past two years, information has emerged on the Australian banking system that highlights lapses in governance and risk management. As a result, we are revising our previous view on the competitive dynamics and institutional framework of the Australian banking

The post S&P kicks Australia out of “very low risk” sovereign club appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 12, 2018 - 12:49 Source

It may come as something of a surprise to many to learn that we are currently in the midst of what is called the ‘Sixth Extinction’ – that is, the sixth wave of mass extinctions of plant and animal species since the demise of the dinosaurs some 65 million years ago. What is particularly concerning…

The post The Sixth Extinction & The Third Book appeared first on The AIM Network.

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Prosper Australia Tuesday, June 12, 2018 - 12:18 Source

Having recently read biographies of Paul Keating, Wayne Swan, and Craig Emerson, I’m astounded at their incredible levels of political commitment and investment in the Labor Party, and to Australia, during the Hawke-Keating period of government from 11 March 1983 to 11 March 1996. But their economics was fatally flawed. Emerson’s account expands into the […]

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Renew Economy Tuesday, June 12, 2018 - 12:10 Source

Victoria's newest wind farm - Salt Creek - has begun exporting to the grid.

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Renew Economy Tuesday, June 12, 2018 - 12:05 Source

Sonnen says it is using combined capacity of 2,500 residential batteries it has installed in Australia to play in wholesale markets.

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MacroBusiness Tuesday, June 12, 2018 - 12:02 Source

By Leith van Onselen Today’s housing finance data for April released by the Australian Bureau of Statistics (ABS) revealed a continuing slump in overall finance commitments, led by investors. According to the ABS, the total number of owner-occupier finance commitments (excluding refinancings) fell another 1.9% in April in seasonally adjusted terms and was down 4.4%

The post Housing finance slump rolls on appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 11:51 Source

Not that it was ever as good as advertised bu the NAB survey boom is looking toppy: Of note, employment, profitability down sharply, stocks up sharply. The leading indicators of forward orders and capex are rolling: And services confidence is off hard ahead of conditions with ponzi-states in the south east hit hardest: Business confidence

The post NAB business survey boom goes bust appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 11:45 Source

Via Domainfax: Cuts in power sector emissions are unlikely to be maintained, while those from the transport sector will continue to climb in the absence of mandatory standards, according to analysis by The Australia Institute. “From now on … electricity emissions will fall much more slowly” if not remain flat, Hugh Saddler, an energy analyst

The post Straya still the global carbon glutton appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 11:30 Source

By Leith van Onselen In the lead-up to last year’s September general election, New Zealand Labour Party launched a plan to reduce immigration by around a third in a bid to relieve chronic housing and infrastructure pressures (especially around Auckland): Last weekend, the Labour-led Government announced that it would triple the amount of time that

The post NZ Labour sinks into immigration lies appeared first on MacroBusiness.

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Club Troppo Tuesday, June 12, 2018 - 11:24 Source

Image result for seven types of atheismThe God of monotheism did not die, it only left the scene for a while in order to reappear as humanity – the human species dressed up as a collective agent, pursuing its self-realization in history. But, like the God of monotheism, humanity is a work of the imagination. The only observable reality is the multitudinous human animal, with its conflicting goals, values and ways of life.

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MacroBusiness Tuesday, June 12, 2018 - 11:23 Source

AUD is down sharply through the morning as DXY rallies across Asia: Bonds are bid: The ASX is ignoring overnight leads and remains soft: Dalian is down: Big Iron too: Big Oil up: Big Gold down as DXY rallies: Big Scum is still wrestling with its giant support line: Big Puswad likes what it sees

The post Australian dollar slides back into 75s appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 10:45 Source

By Leith van Onselen Consumer groups are calling for the income threshold that determines when a worker qualifies for mandatory superannuation payments to be increased or indexed. The $450 a month threshold has not changed since compulsory super was introduced nearly 30 years ago. As usual, the superannuation industry is pushing back as it stands

The post Consumer groups demand lift in compulsory super threshold appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 10:30 Source

“Are you seriously saying people who are uncomfortable with their wage growth are whingers?”, asks @farrm51, as the Insiders panel discuss the impact of wage growth. #Insiders #auspol @barriecassidy @annabelcrabb pic.twitter.com/sNVRW0daGU — Insiders ABC (@InsidersABC) June 10, 2018 By Leith van Onselen We all know that The AFR’s Editor, Michael Stutchbury, has a pro-business bias. But

The post Stutchbury: Aussies “whingers” about wages growth appeared first on MacroBusiness.

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Tuesday, June 12, 2018 - 10:30 Source

Seventy-five years ago, two English composers were born on the same day. It’s an amusing  coincidence, because Gavin Bryars and Brian Ferneyhough have almost nothing else in common.

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MacroBusiness Tuesday, June 12, 2018 - 10:15 Source

Did he just say it? At the AFR: It’s not that the public are opposed outright to immigration. All but a handful of extremists know immigration is necessary and inevitable. All they ask for is for immigration to be properly managed. Remember the old Howard slogan: we decide who comes to our country and the

The post Alexander Downer: Cut immigration appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 10:00 Source

By Leith van Onselen The Housing Industry Association’s (HIA) Population and Residential Building Hotspots report has declared ‘boom’ times in Melbourne from record population growth [my emphasis]: Twelve out of the top 20 areas in the latest “Hotspots Report” are in Melbourne. “This year’s Hotspots Report is a tale of one city,” the report said. “Last

The post HIA pimps Melbourne’s rat wheel perpetual motion economy appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 09:59 Source

By Chris Becker Emerging frontlines in what could be the biggest trade war in decades are being ignored left and right by risk markets as Asia wakes up to the Korean/US summit in Singapore today. Two tin-pots clamouring for attention on the world stage might attraction volatility, but so far the signs are normal across

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 09:45 Source

Recall the recent op-ed by Migration Council Chair Innes Willox: Anti-business rhetoric in Victoria has reached fever-pitch, risking jobs and investment. By parroting overly emotive unions terms such as “wage theft”, the State Government is supporting a divisive agenda that will only serve to drive employers away. Running businesses is risky, complex and tough. The

The post ACTU dumb on Migration Council wage attack appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 09:30 Source

By Leith van Onselen While the Turnbull Government and the Business Council of Australia (BCA) continue to insist that reducing the company tax rate is essential to fuel investment, jobs and wages growth, evidence of the impact from the recent US corporate tax cuts to 21% from 35% continues to disappoint, fuelling little more than

The post Why cutting company taxes will fail to boost investment appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 09:15 Source

This is about right, at the AFR: Sydney and Melbourne’s already faltering house prices are set to slide by another 9 per cent under Labor’s planned property tax changes which would be the equivalent of borrowing costs rising by more than 20 per cent. A detailed study of how the reforms would affect 84 local

The post Negative gearing reform to hit house prices hard appeared first on MacroBusiness.

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The Tally Room Tuesday, June 12, 2018 - 09:15 Source

There has been a lot of discussion recently about the lack of representation of women in the Liberal Party, and it got me thinking about what sort of seats tend to be represented by women. Do they tend to hold safer seats, or more marginal seats? I recently noticed that most coalition women hold marginal seats, in the context of Jane Prentice and Ann Sudmalis facing preselection threats.

Firstly, I just looked at what sort of seats current federal MPs hold. For this graph, I divided seats into “safe” (margin over 12%), “reasonably safe” (margin 6-12%) and “marginal” (margin under 6%).

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MacroBusiness Tuesday, June 12, 2018 - 09:00 Source

By Leith van Onselen The Minerals Council of Australia (MCA) claims Australia is facing budding shortage of mining engineers because of a lack of students studying engineering at university. From ABC News: The Minerals Council of Australia says close to 300 mining engineers were graduating every year during the resources investment boom. Based on current

The post Why study engineering unless you plan to emigrate? appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 12, 2018 - 06:00 Source

Tuesday 12 June 2018 The electorate has always believed that the Liberal Party are better managers of the economy. That it is a myth is unimportant. “Life is about perception, not what is but what we perceive it to be” Pensioners will always vote for the Coalition even though the right of politics couldn’t give…

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MacroBusiness Tuesday, June 12, 2018 - 06:00 Source

Over the long weekend, DXY and EUR were roughly stable: The market is now a little less hilariously long EUR: AUD was soft against DMs:   EMs are still struggling vs AUD: The market pulled its AUD short in a little last week: Gold is flat: Oil bottoming: Base metals soft: And big miners: EM

The post Will the Fed crush the Australian dollar? appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 05:34 Source

Via The Guardian: There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend. A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows. The world’s best-known cryptocurrency lost $500 (£372)

The post Bitcoin’s founding ponziteers cash out appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 00:20 Source

While the world’s press is busy lapping up the anti-Trump hysteria post-G7, let’s stop and ask what did they expect? Via The Guardian: Donald’s Trump’s chief economic adviser said the US pulled out of a G7 communique because the Canadian prime minister, Justin Trudeau, “stabbed us in the back” and accused the leader of one America’s

The post G7 screws the US pooch appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 12, 2018 - 00:20 Source

By Leith van Onselen The March quarter national accounts was another shocker for Australian households. According to the ABS, the real average compensation per employee fell by 0.3% in the year to March 2018 to be 3.8% lower since March 2012: Late last week, the Reserve Bank of Australia (RBA) also released real household disposable

The post Real household disposable income continues to fall appeared first on MacroBusiness.

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