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MacroBusiness Thursday, October 22, 2020 - 13:40 Source

When it comes to the age of entitlement, you would be hard pressed to beat NBN Co, which is packed flush with literally hundreds of employees paid exorbitant ‘fat cat’ salaries: NBN Co chief executive officer, Stephen Rue receives the highest salary in the public sector, after earning more than $3 million in the 2019-20

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Renew Economy Thursday, October 22, 2020 - 13:34 Source

Japan Shinjuku coal gas - optimisedAustralia's largest buyer of gas and coal, Japan, set to announce a commitment to zero emissions by 2050.

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Renew Economy Thursday, October 22, 2020 - 13:28 Source

Spain-based solar developer X-Elio lands its first renewable power purchase agreement in Australia, for the output of the 200MW Blue Grass solar farm.

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MacroBusiness Thursday, October 22, 2020 - 13:20 Source

Kevin07 has his problems but I can’t see how having a media diversity RC can do anything but good: Reason: Our democracy depends on diverse sources of reliable, accurate and independent news. But media ownership is becoming more concentrated alongside new business models that encourage deliberately polarising and politically manipulated news. We are especially concerned that

The post I’ve signed Kevin07’s media royal commission petition appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 13:00 Source

The CEO of AUSTRAC – the Australian Government agency responsible for detecting, deterring and disrupting criminal abuse of the financial system – has warned that lawyers, accountants and real estate agents are being used to launder illicit, necessitating then need for the industry participants to be brought into the anti-money laundering (AML) regulatory net: Austrac

The post AUSTRAC demands property money laundering laws appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, October 22, 2020 - 12:56 Source

The Crown Resorts Annual General Meeting last year, held inside the company’s now flagging flagship Melbourne casino, was an ill-tempered matter. Members of the board were in no mood to please shareholders, many of whom have occupied the barricades of activism. Crown executive chairman John Alexander had little time for those who had been muddying…

The post Tarnished Crown: Finding the Thorns of a Gambling Empire appeared first on The AIM Network.

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MacroBusiness Thursday, October 22, 2020 - 12:40 Source

Labor leader Anthony Albanese has urged the federal government to press ahead with its proposed national integrity commission in the wake of revelations about a controversial land deal at Badgerys Creek in New South Wales. The government paid $30 million for land at the site of Sydney’s new airport that was subsequently valued at just

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The Australian Independent Media Network Thursday, October 22, 2020 - 12:25 Source

To anyone who looks for consistency, political commentary can be confusing. You know the sort of thing, Brett Sutton is meant to be in trouble because he claims that he didn’t remember something in one of the thousands of emails he received, but Gladys is ok because she can’t be expected to remember that her…

The post Forget Kevin Rudd’s Petition, I Have A Much Better Idea… appeared first on The AIM Network.

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MacroBusiness Thursday, October 22, 2020 - 12:20 Source

Via RealClear some movement to the incumbent at the headline: Battlegrounds not so much: Betting still all over the joint:   No gap closure at FiveThirtyEight: An embarrassingly Trump worshipping Zero Hedge makes a big deal of registrations: Last week, we published an article detailing a warning from JPMorgan’s top quant Marko Kolanvoci to all those expecting

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Renew Economy Thursday, October 22, 2020 - 12:06 Source

Tesla Megapack batteryTesla says shortage of battery cells impacting supply of battery storage, and the roll out of new vehicles like the Tesla Semi.

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MacroBusiness Thursday, October 22, 2020 - 12:00 Source

Our attention turns this week to what is most Australian’s second biggest asset, Superannuation. Super means a lot things to every Australian. For some it’s a tax efficient long term savings vehicle that if managed well can provide security and reassurance that retirement will be comfortable and reliable. For others it is an annoying, mandated

The post MB Fund Podcast: Is Superannuation Distorting Investment Markets? LIVE 12:30 AEDT appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 11:40 Source

It likes to pretend it can hurt our commodities but, in the end, the Chinese paper tiger is desperately short of pretty much everything, via Bloomie: Mill shutdowns in China, along with weaker demand for textiles, had “turbo charged” a downturn in the market earlier in the year, Robert Hermann, managing director at adviser Mecardo,

The post Chinese desperado gobbles up Aussie wool appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 11:20 Source

In his recent Lowy Institute commentary, RBA alumnus John Edwards demanded MOAR: Just as the Australian government has little choice but to continue for some time with the expansionary fiscal stance it adopted in response to the pandemic, so too the RBA has little choice but to continue its expansionary monetary stance. In the RBA’s

The post RBA uberbull says print! appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 11:04 Source

The Australian dollar is down sharply this morning after last night’s leap: Bonds are bid except way out past the RBA’s QE horizon: XJO is off sharply: Big Iron is mixed: Big Gas bashed: Big Gold still can’t break the corrective trend: Big Banks have reversed the recent gains: US futures are weak. Also, for

The post Rampant AUD refills ASX bath of blood appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 11:00 Source

Australia recorded 12 new COVID-19 infections overnight, below yesterday’s 16: However, only 6 were locally acquired, whereas 6 were returned travelers in hotel quarantine: Victoria recorded 5 new infections, the highest in a week: However, Melbourne’s 14-day average infection rate has fallen to just 6.1: Both jurisdictions’ infection rates are bouncing around low levels: Active

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MacroBusiness Thursday, October 22, 2020 - 10:40 Source

News has a nice Swedish panic feature today: Coronavirus cases have exploded in Sweden as authorities try to keep hold of twin battles – containing the virus and controlling the narrative. The breakaway Nordic nation divided experts by refusing to lock down its citizens when the virus swept through the country earlier this year. But

The post Why are Swedish second wave deaths so low? appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 10:20 Source

Lawyers say that Victoria’s Chief Health Officer (CHO) Brett Sutton is among several government officials who could potentially face criminal charges over their evidence to the inquiry into the state’s hotel quarantine program. Sutton recently came under scrutiny over revelations that he had instructed Health Department lawyers to withhold an email from the inquiry which

The post Hotel Quarantine Inquiry liars could face charges appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 10:00 Source

September has historically been the worst month for the stock market, and this year was no exception with global equities producing their first monthly negative return since bottoming in March. In Australia, rising concerns about the deteriorating trade relationship with China, Victoria’s continuing shutdowns and looming end-September step-downs in income support programs all took a

The post MB Fund September 2020 Performance appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 09:40 Source

Iron ore prices for October 21, 2020: Spot up. Paper up. Really just following broader trends of USD weakness. China’s empties are rebounding: ‘ It looks like sales have been pushed around a lot by stimulus-led discounting waves: But there are still signs of weakness creeping in. Price growth is weak, starts have softened and

The post Daily iron ore price update (empties come good) appeared first on MacroBusiness.

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The Tally Room Thursday, October 22, 2020 - 09:30 Source

The New Zealand electoral system tends to produce a flattening effect on the results. Most electorate results don’t really make a difference to the national outcome so the results analysis tends to just look at the national figures. But there is value in delving down and looking at the geography.

Overall the swings away from National and towards Labour were remarkably consistent. In this post I’ll include some maps and tables showing the swings in different parts of New Zealand, and look at how the swing on the candidate vote tended to be bigger in National seats.

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MacroBusiness Thursday, October 22, 2020 - 09:30 Source

Risk sentiment remains tenuous across the North Atlantic overnight with Wall Street stumbling and European stocks almost in full retreat as the triple whammy of COVID, Brexit and the upcoming US elections weigh on markets. USD is falling sharply against the majors, with both gold and Bitcoin taking advantage, while commodity prices are completely messed

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 09:20 Source

The Depressionberg Unstimulus will take a little time to wreck the joint. This week’s payrolls plunge is probably early evidence that the radical fiscal tightening embedded in the budget, somehow missed by all and sundry, has already hit the  economy hard: The dramatic plunge in SME payrolls is precisely what we expect as JobKeeper is

The post How long before Depressionberg realises he’s crashed economy? appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 09:00 Source

Via CNBC: AstraZeneca shares turned negative Wednesday after a Brazilian health authority said a volunteer in its coronavirus vaccine study died. The Federal University of Sao Paulo, which is helping coordinate late-stage trials in Brazil, separately said that the volunteer was Brazilian, according to Reuters. Shares of AstraZeneca, a front-runner in the Covid-19 vaccine race, gave

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MacroBusiness Thursday, October 22, 2020 - 07:56 Source

DXY sank last night with CNY and EUR blasting higher: The Australian dollar joined in: Gold too: Not oil: Metals liked it: Miners firmed: EM stocks too: Junk is stable: Treasuries are backing up at the long end: As stocks fell again: Westpac has the wrap: Event Wrap Brexit: After a series of encouraging comments

The post Australian dollar jumps with bond back-up appeared first on MacroBusiness.

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Renew Economy Thursday, October 22, 2020 - 02:01 Source

Beautiful Heart Reef in the Great Barrier Reef Australia - optimisedHSBC and the Queensland Government become the first buyers of 'reef credits', under a new scheme to limit pollution flowing into the Great Barrier Reef.

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Renew Economy Thursday, October 22, 2020 - 00:10 Source

Battery storage revenue falls to its lowest levels in nearly two years as Hornsdale takes a break to boost its capacity, and FCAS and energy arbitrage earnings fall.

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Renew Economy Thursday, October 22, 2020 - 00:10 Source

Battery storage revenue falls to its lowest levels in nearly two years as Hornsdale takes a break to boost its capacity, and FCAS and energy arbitrage earnings fall.

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MacroBusiness Thursday, October 22, 2020 - 00:10 Source

A group of university academics have called on the Morrison Government to significantly increase housing stimulus in order to help drive Australia’s economic recovery: In response to the COVID-19 recession, federal, state and territory governments quickly provided support to the housing industry for two reasons. First, to safeguard jobs and, second, because investment in the

The post Why Australia needs more housing stimulus appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 00:05 Source

The South China Morning Post (SCMP) reports that four out of five affluent Chinese families are shunning Western universities amid strained foreign relations and negative sentiment towards the COVID-19 pandemic: After being inundated with news about the worsening coronavirus pandemic and rising tensions between China and the West for months, Beijinger Joe Gao… who runs

The post Chinese international students are not coming back appeared first on MacroBusiness.

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MacroBusiness Thursday, October 22, 2020 - 00:04 Source

One of the most asinine lockdown restrictions implemented by the Andrews Victorian Government is the banning of gyms in regional Victoria. There are only a handful of active COVID-19 infections across regional Victoria: And the 14-day average rate of infection has fallen to just 0.4: So for all intents and purposes, COVID-19 has been eliminated

The post Why are gyms not allowed to open in regional Victoria? appeared first on MacroBusiness.

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