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Renew Economy Wednesday, August 15, 2018 - 14:09 Source

Could the Tesla Model 3 sport the slogan 'Made in Australia'? Source: TeslaTesla tells Senate inquiry it would consider making EVs in Australia - if the market was big enough.

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MacroBusiness Wednesday, August 15, 2018 - 14:03 Source

By Leith van Onselen Last month, BIS Oxford Economics projected that housing starts will fall 22% from 2018’s estimated figure of 219,000 to 171,350 in 2020. Today, the Housing Industry Association (HIA) has updated its housing starts forecasts, projecting a smaller 15% fall over three years: “The fall in house prices will dampen demand for new

The post HIA: housing starts to fall 15% over 3 years appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 13:29 Source

AEMO report notes that more renewables in the second quarter meant lower gas and coal output, lower prices, and lower emissions.

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MacroBusiness Wednesday, August 15, 2018 - 13:23 Source

Some thin-sliced Chanticleer today: …perhaps the best supporting evidence for Scott’s big Coles spin-off comes when you examine the returns on capital each division of this conglomerate is producing. At Bunnings, which will officially be crowned the flagship of the Wesfarmers fleet after the Coles demerger, return on capital was a staggering 49.4 per cent, up from 41.8

The post Buy Coles, short Wesfarmers appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 13:16 Source

It may come as a shock but the former One Steel/Arrium dog is now the birthplace of the Australian energy future, via the AFR: British billionaire Sanjeev Gupta expects to begin construction of the Cultana solar energy project which encompasses 780,000 solar panels near the revived Whyalla steelworks early in 2019 as part of a broader $1.37

The post Aussie energy future born in Whyalla appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 13:00 Source

By Leith van Onselen The NSW Legislative Council last night passed the Fair Trading Amendment (Short-Term Rental Accommodation) Bill 2018. The Hansard transcript of the debate can be found (introduction) here and (arguments) here. The new rules are summarised by 7News: Under the policy, anyone who commits two serious breaches of the code within two

The post NSW Parliament passes weak Airbnb legislation appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 12:55 Source

Infratil Limited and Mercury NZ Limited have today announced their intention to make a full takeover offer for Tilt Renewables Limited.

The post Infratil and Mercury to make full takeover offer for Tilt Renewables appeared first on RenewEconomy.

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MacroBusiness Wednesday, August 15, 2018 - 12:52 Source

AUD breaks again: Mid-71s looming as crucial support. Long bond yields are falling too as wages go precisely nowhere: ASX lovin’ it: Dalian is sniffing at those Chinese house prices: Big Iron is down anyway: Big Gas looks toppy: Big Gold is in trouble as DXY powers: Big Mortgage is enjoying falling yields but CBA

The post Australian dollar breaks, ASX hits new high appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 15, 2018 - 12:34 Source

We have a choice in Australia. We can succumb to the increasingly shrill voices of greed, intolerance, bigotry and division or we can rally together to walk forward in respect. With more than 300 languages spoken in our homes, over 100 religions and more than 300 different ancestries, the 2016 Census highlights Australia’s rich cultural…

The post Walk together in respect appeared first on The AIM Network.

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MacroBusiness Wednesday, August 15, 2018 - 12:10 Source

The great Chinese ponzi is alive and well with house prices for July off to the races up monthly 1.1% and annual 5.8%: Price gains are broad-based outside of a few top tier eastern megacities: Which is a lot of them: Here’s the raw data: And the prices versus iron ore inventories tracker: Given these

The post Chinese house prices off to the races appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 12:01 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has just released its Labor Price Index for the June quarter of 2018, which revealed a trend weakening in wages growth from already anaemic levels: According to the ABS, wages grew by 0.62% (s.a.) and 0.47% (trend) in the June quarter. Private sector wages grew

The post Weak wages growth demolishes Budget forecast appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 11:43 Source

 Kārlis DambrānsScottish researches claim breakthrough in flow battery technology that could see electric vehicles being charged in a fraction of the time of current standards.

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MacroBusiness Wednesday, August 15, 2018 - 11:41 Source

From Martin North today: The latest edition of the DFA Household Financial Confidence Index to end July 2018 remains in below average territory, coming in at 89.6, compared with 89.7 last month.  We had expected a bounce this month, in fact the rate of decline did slow, thanks to small pay rises for some in the

The post Aussie household financial confidence erodes further appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 11:30 Source

By Leith van Onselen It’s amazing how an election campaign suddenly forces politicians to speak in the public interest. Fresh from flogging-off the Port of Melbourne, Victorian Treasurer Tim Pallas last year confirmed that more asset sales were on the agenda: “I have said since before we formed government that we were committed to the idea

The post Vic Labor backflips on privatisation appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 11:15 Source

By Leith van Onselen With Australia’s Senate all but certain to defeat the Turnbull Government’s Bill to lower the tax rate for all companies with turnovers above $50 million by 2026-27, Bluescope chief Mark Vassella has called on the Government to allow companies to write-off new investments. From The AFR: Speaking on ABC radio, Mr

The post As company tax cuts face defeat, business pivots to Labor appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 11:11 Source

I really did not want to touch this poison but the media is going nuts so here it is: Queensland senator Fraser Anning has praised the White Australia Policy and called for a plebiscite as “the final solution to the immigration problem” in the most inflammatory maiden speech to an Australian Parliament since One Nation

The post Idiot gate-crashes immigration debate appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 11:06 Source

Via Bill Evans: The consumer mood deteriorated in August, giving back about half of the surprisingly strong gains seen in June and July. Those gains look to have been partly a positive response to the tax cuts announced in the May Budget, which passed into legislation in June, the first round of cuts coming into

The post Westpac consumer sentiment reverses appeared first on MacroBusiness.

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Club Troppo Wednesday, August 15, 2018 - 11:02 Source

Image result for industry funds

It’s funny how not-for-profit is more efficient than for profit where there’s masses of opportunities to rip people off? Who’da thunk? The Industry Funds were dragged into the Royal Commission in line with the well established principle of public administration: Never let a good deed go unpunished.

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MacroBusiness Wednesday, August 15, 2018 - 11:00 Source

By Leith van Onselen “Smoke and mirrors”. That’s the best way to describe the Coalition’s fake 21,000 cut to the permanent migrant intake. From The ABC: International students, graduates and people on bridging visas are continuing to fuel Australia’s immigration boom. The number of temporary visa holders in Australia in June increased by 107,000 in

The post Peter Dutton’s fake immigration cuts exposed appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 10:48 Source

Infigen Energy to install 25MW/52MWh Tesla Powerpack battery storage system at its Lake Bonney wind farm in South Australia.

The post Tesla big battery to be installed at Lake Bonney wind farm appeared first on RenewEconomy.

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MacroBusiness Wednesday, August 15, 2018 - 10:45 Source

Via the AFR today: The scale of NAB’s inability to report licence breaches on time has been revealed in a document published by the Hayne royal commission which shows the bank breaking conditions of its licence at the alarming rate of around once every week between 2014 and 2017. Of the 297 breaches the bank

The post Ken Henry should resign appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 10:36 Source

solar farmGupta confirms plans for 1GW of dispatchable renewables at ground-breaking ceremony at new Cultana solar project, a day after Coalition agree to NEG policy that models zero new investment in large scale renewables and storage over next decade.

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MacroBusiness Wednesday, August 15, 2018 - 10:30 Source

Via Gottiboff today: Let’s assume such a major overseas event will not take place and concentrate on the events we can control which are contributing to the housing mess in Sydney and Melbourne. We’ll start with the banks and their regulators. The banks now have a set of rules that have been imposed on them

The post How far will house prices fall? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 10:15 Source

“Beijing” Bob Carr is back: Australia was “unimaginable” without the dynamic presence of Chinese-Australians. Those were the words of Malcolm Turnbull last week, resetting the rhetoric of Australia-China relations. The new language is welcome, especially to someone such as Kun Huang, who might be wondering if it had been a mistake to have been born

The post China apologists seize their moment appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 10:00 Source

By Leith van Onselen Toronto’s housing market is showing further signs of life after both prices and sales abruptly plunged. The Teranet-National Bank House Price Index for July was released overnight, which shows that house prices in Toronto are rebounding after plunging 7.4% between July and December 2017: As at July, Toronto values were 4.0% below

The post Toronto house prices recovering after sharp plunge appeared first on MacroBusiness.

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xkcd.com Wednesday, August 15, 2018 - 10:00 Source

Just make sure all your friends and family are out of the car, or that you've made backup friends and family at home.

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MacroBusiness Wednesday, August 15, 2018 - 09:45 Source

By Leith van Onselen Labor has backed the Turnbull Government’s proposed broadband tax for residential and business users of non-NBN services. From IT News: The tax, which is officially called the regional broadband scheme (RBS), would see some 385,000 residential and business users of “NBN-equivalent” fixed line services hit with a $7.10 per month fee.

The post Labor backs broadband tax for non-NBN services appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 15, 2018 - 09:30 Source

By Leith van Onselen Last week, it was revealed that Qantas had secured a special migration deal with the federal government to bring in foreign pilots: The labour agreement granted last month allows the airline’s regional arm, QantasLink, to bring 76 pilots and instructors into the country for up to four years, avoiding new two-year restrictions

The post Fly Cooliestar: All day, every day, low wages appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 09:17 Source

Construction of the 48-turbine Cattle Hill Wind Farm commenced recently, with the project aiming to be fully operational in 2019. The project is expected to have up to 150 jobs on site during construction peaks on site and employ up to 10 permanent staff when operational.

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MacroBusiness Wednesday, August 15, 2018 - 09:15 Source

This is old school AFR from Alan Mitchell: Economists call the problem “regulatory capture” and, as well as being under-resourced, it seems the financial sector’s main regulators, APRA and ASIC, may have fallen prey to it. None of these problems are new. The failures of governments and regulators to protect the public from the behaviour of industry have

The post APRA, ASIC “captured” by banks appeared first on MacroBusiness.

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