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MacroBusiness Tuesday, April 16, 2019 - 16:30 Source

A lot better conditions here in Asia today with Chinese markets rebounding on the expectation of much better economic data while the Australian dollar was the biggest currency mover on the release of the RBA Minutes, sending the Pacific Peso down over 30 pips. The Shanghai Composite has rebounded sharply by climbing over 2% to close

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Renew Economy Tuesday, April 16, 2019 - 15:41 Source

As more coal generators don their cloaks and ride into the sunset we must make sure their owners do not keep making off with the family silver.

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MacroBusiness Tuesday, April 16, 2019 - 15:23 Source

Via Westpac: The RBA minutes clearly indicate that they are willing to cut the cash rate and have set out the conditions that need to be fulfilled for it to occur. We are encouraged by this new detail, and continue to believe the RBA will cut the cash rate in August and November this year.

The post Bill Evans: RBA tilts towards rate cuts appeared first on MacroBusiness.

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Renew Economy Tuesday, April 16, 2019 - 15:11 Source

Climate-KIC Australia is now accepting applications for ClimateLaunchpad 2019.

The post How WA cleantech startup Sunovate got their big break appeared first on RenewEconomy.

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Renew Economy Tuesday, April 16, 2019 - 14:42 Source

More confusion and uncertainty for wind and solar farms as AEMO admits errors and makes revisions to key marginal loss factors.

The post Confusion, uncertainty grips market as marginal loss factors changed again appeared first on RenewEconomy.

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MacroBusiness Tuesday, April 16, 2019 - 14:00 Source

By Leith van Onselen With the election campaign in full swing, Prime Minister Scott Morrison suddenly cares about traffic congestion across Melbourne: More than $150 million of ‘congestion busting’ road projects in Melbourne will be announced by the Coalition on Monday. The Morrison government says the $154 million investment will help ease gridlock across the

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Renew Economy Tuesday, April 16, 2019 - 13:38 Source

AGL wins tender to use an old copper mine near Adelaide to provide 250MW of pumped hydro capacity and eight hours of storage, and help the shift from fossil fuels in the grid.

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MacroBusiness Tuesday, April 16, 2019 - 13:30 Source

By Leith van Onselen EY has released analysis claiming that the majority of Sydneysiders would be better-off renting and investing in shares than purchasing an owner-occupied dwelling. From Domain: “It’s time to give up on the mindset that renting is dead money,” said EY chief economist Jo Masters. “There’s this idea that the only way

The post EY: Sydney property a dud investment appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 13:00 Source

Authored by Michael Every via Rabobank. Mmm…MT For those who haven’t noticed, there has been a lot of discussion about Modern Monetary Theory (MMT) in the press of late. Clearly MMT, which has actually been around for decades, is currently a hot topic at the highest levels. However, even a cursory glance above shows that it is

The post The pros and cons of MMT appeared first on MacroBusiness.

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Renew Economy Tuesday, April 16, 2019 - 12:41 Source

In first "impact" statement, Tesla says mix of solar, batteries and EVs have slashed emissions, saved fuel and boosted grid stability as it plots the end of fossil fuels.

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Club Troppo Tuesday, April 16, 2019 - 12:40 Source

Who Was Adam Smith and What Were His Works?This recent essay in the Mandarin is a reworking of

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Renew Economy Tuesday, April 16, 2019 - 12:32 Source

Traffic at SunsetWith the energy transition in the main grid gathering pace, more focus is turning to de-carbonising transport. We talk to Australian engineer Stephanie Moroz, who has worked in all three sectors, about the pros and cons of biofuels, batteries and hydrogen.

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MacroBusiness Tuesday, April 16, 2019 - 12:30 Source

CoreLogic has released its quarterly auction market report, which has reported a combined capital city clearance rate of only 49.9% over the March quarter, alongside tanking volumes: Around half of all homes up for auction across Australia’s capital cities sold during the first quarter of 2019, with the latest CoreLogic Quarterly Auction Market Review showing

The post Auction clearances stuck below 50% in March quarter appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 12:00 Source

Via Martin North: The Australian Prudential Regulation Authority (APRA) has released details on the future role and use of enforcement activities in achieving its prudential objectives. Guiding principals include “risk-based”, “forward-looking”, “outcomes-based” and deterrence impact. Of course the question is, will it really make any difference? Here is the release. APRA’s new Enforcement Approach, published today, sets

The post APRA releases new lettuce leaf appeared first on MacroBusiness.

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Club Troppo Tuesday, April 16, 2019 - 11:57 Source

Cross posted with the Mandarin

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MacroBusiness Tuesday, April 16, 2019 - 11:41 Source

Dovish RBA minutes out just now: International Economic Conditions Members commenced their discussion by noting that the slower pace of global economic activity had continued in recent months. This had been particularly evident in the manufacturing sector. Survey measures of conditions in the manufacturing sector had declined across a range of economies, although they had

The post Dovish RBA realises its ‘pushing on a string’ appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, April 16, 2019 - 11:40 Source

The spectacle of political parties jostling with each other for ascendancy is ugly. Promises of money are thrown around like confetti – a tax cut in five years’ time, an infrastructure spend after two more elections, hubs aplenty, and always a crumb for the little people at the local sporting club. Huge numbers over ridiculous…

The post Election campaigns are unedifying spectacles nowadays appeared first on The AIM Network.

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MacroBusiness Tuesday, April 16, 2019 - 11:30 Source

By Leith van Onselen Australian Finance Group (AFG) has released its housing finance data for the March quarter, which registered a heavy quarterly decline in the number and value of mortgage applications, with applications also crashing over the year. The number of mortgage applications fell by 9.7% over the March quarter and was down by

The post AFG: Home loan activity crashes to five year low appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 11:15 Source

Via RIO this morning: Rio Tinto chief executive J-S Jacques said “Our iron ore business faced several challenges at the start of this year, particularly from tropical cyclones. As a result, and following the continuing assessment of damage at the port resulting from the cyclones and other minor disruptions, 2019 guidance for Pilbara shipments is

The post RIO iron ore damage less than expected appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 11:00 Source

Bit dodgy this: In the next three years ANZ CEO Shayne Elliott will get rid of another 8000 of the bank’s employees — almost a quarter of the big four’s workforce. …When Elliott took over the Melbourne-headquartered bank in January 2016 its total workforce was just over 50,000, according to its annual report. As of

The post ANZ job cuts to dwarf CBA? appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, April 16, 2019 - 10:57 Source

It was mostly members
of the coalition who railed against the Racial Discrimination Act 1975, and in particularly
Section 18C of that act1. This campaign got going in earnest when
one of their mouthpieces, Andrew Bolt, was found guilty of breaching the Racial
Discrimination Act after he was sued by nine Aboriginal people for two articles
he wrote in 2009. These articles maintained that pale-skinned people who
identified as Aboriginal did so for personal gain2. The Coalition, then
in opposition and after 2013, in government, used the pretext of free speech to

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MacroBusiness Tuesday, April 16, 2019 - 10:45 Source

By Leith van Onselen The Australian Chamber of Commerce & Industry (ACCI) and the Council of Small Business of Australia (COSBA) has urged Labor to reconsider its proposed $17 billion reforms to the taxation of discretionary trusts, arguing that many small and family-owned businesses could be adversely affected by the policy. From The Australian: “Our

The post Business rents seekers bawl at Labor’s trust reforms appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 10:30 Source

CLSA’s excellent Brian Johnston is on the money here: Veteran CLSA bank analyst Brian Johnson said while funding costs had fallen, margins were still under pressure due to increased costs as investors coming to the end of their interest-only periods are forced to switch mortgage products to pay off both the principal and interest. Switching

The post CLSA: Banks won’t cut mortgage rates appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 10:15 Source

By Leith van Onselen Instead of arguing on policy merit, baby boomer mouthpiece Robert Gottliebsen has urged the Coalition to wage an almighty scare campaign against Labor’s tax policies in a bid to wrestle electoral victory from the jaws of defeat: A scare campaign would raise the prospect that all pensioners are in danger [from

The post Deplorable Gotti urges Coalition scare campaign appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 10:14 Source

Not getting worse any more at least, according to CoreLogic’s leading mortgage index: Listings still rising year on year as sales volumes are so low: The great Hayne RC drop appears to have eased now and we’re back into a grind lower for prices. Full report.

The post A little mortgage life? appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 10:00 Source

By Leith van Onselen Australia’s migrant slave economy continues to be exposed. After last week labelling “outrageous” a Fair Work Commission ruling that fruit pickers should be entitled to overtime if they work excessive hours, it has now been revealed that farmers are choosing to employ migrant workers because they are easier to exploit. From 7News:

The post Farmers prefer migrant workers because they’re easier to exploit appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 16, 2019 - 09:45 Source

Via the AFR comes Australia’s secessionist China state: Victorian premier Daniel Andrews will attend Chinese president Xi Jinping’s forum to promote its controversial Belt and Road Initiative (BRI) infrastructure program next week, as Australia’s relationship with Beijing comes under fresh scrutiny ahead of the federal election. The visit by Mr Andrews and Australian business groups

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MacroBusiness Tuesday, April 16, 2019 - 09:30 Source

By Leith van Onselen With the Budget projected to head back to surplus, and the Coalition pledging money for tax cuts and retirees, it still refuses to throw the unemployed a bone. Yesterday, social services minister, Paul Fletcher, again dismissed calls to raise Newstart, claiming the government’s current policy is “appropriate”. From The Guardian: Asked if

The post Cruel Coalition: Newstart “appropriate” and no rise necessary appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, April 16, 2019 - 09:30 Source

By Ad astra   Will they ever learn? After watching the first Question Time of the most recent sitting of the House of Representatives, the only plausible answer to that question is a resounding NO. On April 2, parliament resumed after a brief recess to enable the Budget for the next year to be tabled, a necessary…

The post Will they ever learn? appeared first on The AIM Network.

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Renew Economy Tuesday, April 16, 2019 - 08:45 Source

Sales of Tesla's all-electric Model 3 sedan have officially topped all previous sales of former EV favourite, the Chevrolet Bolt.

The post Tesla Model 3 takes lead as all-time best-selling EV in US appeared first on RenewEconomy.

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