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Renew Economy Thursday, August 6, 2020 - 06:05 Source

Global gold miner says it's looking to “bolt-on” renewables at more of its Western Australian mining operations, including the addition of wind turbines at Granny Smith.

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MacroBusiness Thursday, August 6, 2020 - 00:10 Source

With three epidemiologists and genomic sequencing experts scheduled to appear on today, the judicial inquiry into Melbourne’s botched hotel quarantine disaster was conveniently delayed by six weeks: The inquiry into what went wrong in Victoria’s hotel quarantine program has been delayed due to the state’s coronavirus crisis. The board of inquiry, headed by former Family

The post Dodgy Dan Andrews delays hotel quarantine inquiry appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 00:06 Source

Yesterday’s mortgage commitment data from the Australian Bureau of Statistics (ABS) continues to point to price falls for Australian property. The next chart plots the annual change in the value of mortgage commitments (excluding refinancings) against CoreLogic’s 5-city dwelling value growth to July: As shown above, mortgage growth has historically been a strong leading indicator

The post Mortgage collapse points to further property price falls appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 00:05 Source

Who cares. Deficits are irrelevant… Overview • On Aug. 3, 2020, the State of Victoria declared a “state of disaster” in response to rising cases of COVID-19, triggering additional lockdown measures that we expect to severely hit economic activity. • There is an increasing possibility that we will lower our long-term rating on Victoria within

The post Irrelevant S&P dumps Victoria on downgrade watch appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 00:05 Source

The Federal Chamber of Automotive Industries (FCAI) yesterday released new car sales for the month of July, which revealed that sales have collapsed to December 2009 levels following 28 consecutive months of decline: New car sales fell by 12.8% relative to the same month of 2019, with annual sales volumes 22% below their March 2018

The post Australian car dealerships face collapse appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 00:02 Source

In other countries, this is called corruption. In Australia, it is the natural course of a political career. Via the AFR: It wasn’t until several hours after the state government brought down the shutters on retail and construction in Victoria that the Australian Banking Association was able to breathe a sigh of relief. With the

The post Evil Anna gets jump on lockdown appeared first on MacroBusiness.

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Renew Economy Thursday, August 6, 2020 - 00:01 Source

solar farm construction retail electricity prices AEMC - optimisedCEFC looks to replicate's Australia's success in large-scale solar in the emerging green hydrogen sector, and is ready to step in for grid investments.

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MacroBusiness Thursday, August 6, 2020 - 00:01 Source

Global Macro / Markets / Investing: Gold Hits $2,000 For the First Time In History As Dollar Extends Declines – The Street Richard Branson’s Virgin Atlantic is the 2nd Virgin airline to declare bankruptcy as the pandemic rips apart the industry – Business Insider Stock Market Crash: Is The End Game Here? – Forbes Disney

The post Links 6 August 2020 appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 5, 2020 - 18:00 Source

A sorry state of affairs has descended upon Australian academic institutions like a suffocating cloak. Vice-Chancellors and their overly remunerated toadies are getting human relations departments to scribble their apologias for sins against thought. Overt political opinions, notably when expressed in a manner that might threaten brands and compromised lines of funding, are being hunted…

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MacroBusiness Wednesday, August 5, 2020 - 17:00 Source

by Chris Becker Asian stock markets are quite mixed going into the tail end of the trading week, with all eyes remaining on the big moves in precious metals with gold maintaining and then pushing well above the $2000USD per ounce level with silver again re-engaging its own little bubble, currently zooming past the $26USD

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 16:00 Source

See our Coronavirus data Dashboard for individual country data. COVID-19 statistics and cases around the World   Population and Death Rates This week the Brazilian Prime Minister commented that it was likely every Brazilian would contract the virus. With Brazil reporting a high number of cases daily you may think a large proportion of Brazilians

The post Weekly COVID-19 (Coronavirus) statistics and analysis flipbook appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 5, 2020 - 15:55 Source

Reef Bleaching From James Paten Gilmour, Research Scientist, Coral Ecology, Australian Institute of Marine Science writing in The Conversation (July 15, 2020): “With no work in lockdown, tour operators helped find coal bleaching on Western Australia’s remote reefs.” “This most recent event (2019/20) is significant because of the extent and duration of heat stress. It’s…

The post Climate Snippets #1 appeared first on The AIM Network.

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Renew Economy Wednesday, August 5, 2020 - 15:31 Source

goldwind wind turbines esperance - optimisedGoldwind wins contract to supply two wind turbines to hybrid renewables and battery storage project that aims to meet half the electricity needs of W.A. town of Esperance.

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Renew Economy Wednesday, August 5, 2020 - 15:07 Source

COAG Energy Council meeting ministers - optimisedState and Territory energy ministers again looking to sidestep Morrison government on energy policy, saying it's possible to cut emissions without the Feds.

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MacroBusiness Wednesday, August 5, 2020 - 14:40 Source

The slimmed-down Virgin Australia, purchased by Bain Capital in June, has announced that it will slash 3,000 jobs – roughly one-third of its former 9,000 strong workforce: The private equity firm’s plan for the airline sees the end of the Tiger Australia brand, although Virgin Australia said it would retain the air operator certificate so

The post Virgin Australia slashes 3,000 jobs appeared first on MacroBusiness.

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Renew Economy Wednesday, August 5, 2020 - 14:33 Source

SMASMA’s AC-coupled storage solution is now even more versatile to suit the Australian and New Zealand market needs.

The post SMA Sunny Boy Storage now compatible with the new BYD Battery-Box Premium HVM model appeared first on RenewEconomy.

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MacroBusiness Wednesday, August 5, 2020 - 14:20 Source

Paul Keating continues to scaremonger against freezing the superannuation guarantee (SG) at 9.5%, claiming it would leave Australians destitute in retirement: “You cannot have a decent income in retirement without self provision. Otherwise, you would have people on the pension which is now what $23,000 or $540 a week?,’’ he said… Mr Keating said if

The post Paul Keating’s superannuation lies swell appeared first on MacroBusiness.

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THE BLOT REPORT Wednesday, August 5, 2020 - 14:12 Source

The second amendment to the United States Constitution
states:

“A well regulated Militia, being necessary
to the security of a free State, the right of the people to keep and bear Arms,
shall not be infringed.”1

This was passed by Congress on September 25th,
1789 and was ratified on December 15, 17911. At that time the most
sophisticated weapons of war were musket and cannon.

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MacroBusiness Wednesday, August 5, 2020 - 14:00 Source

Perennial housing bull, Michael Yardney, has issued a stern warning that off-the-plan apartment buyers face financial ruin as the market collapses: In my opinion, off-the-plan apartments have never represented a good investment, even during the rosiest of boom times – and least of all during a once-in-a-century global health event. Apartments in our inner cities,

The post Off-the-plan property buyers drown in negative equity appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 13:40 Source

Gareth Aird, head of Australian economics at CBA, has cut his GDP growth forecast to -4.2% in 2020 versus -3.8% previously due to Melbourne’s lockdown: We have downwardly revised our outlook for Australian GDP and employment due to the six week stage 4 lockdown across metropolitan Melbourne. We now expect GDP to contract by 4.2%

The post CBA slashes Australia’s GDP forecast appeared first on MacroBusiness.

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Renew Economy Wednesday, August 5, 2020 - 13:36 Source

Goonumbla solar farm near Parkes in New South Wales has been fully completed and is ready to fulfil its PPA with government owned utility Snowy Hydro.

The post FRV’s Goonumbla solar farm completed in NSW, to supply Snowy Hydro appeared first on RenewEconomy.

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MacroBusiness Wednesday, August 5, 2020 - 13:20 Source

The RBA has released its commodity price index for July, which rose 0.9% in SDR (currency weighted) terms – the key determinant of the terms-of-trade – but slumped by 12% over the year: Preliminary estimates for July indicate that the index increased by 0.9 per cent (on a monthly average basis) in SDR terms, after

The post Commodity price index lifts in July appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 13:00 Source

Via the excellent George Tharenou at UBS: Q2 retail volumes fell a record 3.4% q/q (-2.4% y/y); as retail prices lifted 1.2% Meanwhile, Q2 retail volumes fell a record 3.4% q/q (UBS & mkt: -3.0%, pre: +0.7%), and -2.4% y/y (after +1.1%). In contrast to a record 1.9% q/q collapse of CPI, retail prices (1.2%,

The post UBS: Retail, Victoria virus smash GDP appeared first on MacroBusiness.

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Renew Economy Wednesday, August 5, 2020 - 12:42 Source

Loy Yang power station AGL shareholder resolutionAGL faces fresh calls from shareholders to accelerate closure of its coal power fleet, including the Loy Yang A brown coal plant, one of Australia's dirtiest.

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MacroBusiness Wednesday, August 5, 2020 - 12:40 Source

One would have thought that the global COVID-19 pandemic, the effective closure of Australia’s international border, and mass unemployment would have dampened calls from business lobbies to import cheap migrant labour. Not so, with National Farmers Federation telling a Senate inquiry that it wants streamlined arrangements to make it easier to import migrant workers: Agricultural

The post Farm lobby demands more migrant slaves appeared first on MacroBusiness.

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Renew Economy Wednesday, August 5, 2020 - 12:39 Source

Gold Fields says ground-breaking West Australian project that shifted gold mine to 50-60% wind, solar and battery storage could aim for a target of 99% renewables.

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MacroBusiness Wednesday, August 5, 2020 - 12:31 Source

Victoria has registered another 725 COVID-19 infections, the highest daily increase since the pandemic began: Other key figures: 15 deaths – the deadliest day on record Includes 12 linked to aged care and one man in his 30s. 538 people in hospital 42 in ICU 1435 people in aged care infected NSW recorded another 12

The post Victoria’s COVID-19 infections surge by 725 appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 12:28 Source

Economists speak for ‘we’re fooked’. Via Bill Evans: I have never seen a more uncertain economic outlook than we currently face both domestically and globally. Nevertheless it is important to try to set out a framework for assessing the outlook. In this note we take the unusual approach of looking at the prospects of the

The post Bill Evans: “I have never seen a more uncertain economic outlook” appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 12:20 Source

The ABS has released cost of living indices for June, which has recorded sharp falls across all segments and record falls among employed households related to free childcare and petrol: According to the ABS: Large price movements in response to the impacts of COVID-19 in the June 2020 quarter have resulted in the largest fall

The post Record fall in living costs for Australian workers appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 5, 2020 - 12:00 Source

A couple of gold bugs talking it up: Both of these blokes are from the Austrian economic school so you need to be careful of their more extreme price projections. I don’t see any return of the gold standard nor erosion of the USD as the global reserve. But I can still see gold shooting

The post Gold $15k? appeared first on MacroBusiness.

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