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MacroBusiness Tuesday, August 15, 2017 - 00:15 Source

By Nathan Lynch, Asia-Pacific bureau chief, financial crime and risk, Thomson Reuters The Commonwealth Bank money laundering scandal claimed its first scalp yesterday morning, with the imminent departure of chief executive Ian Narev. For the embattled CBA chief, the A$8.9 billion smart laundromat affair was the last straw. This article explores the untold story of

The post As regulators circled, CommBank board was forced to take action appeared first on MacroBusiness.

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North Coast Voices Tuesday, August 15, 2017 - 00:15 Source

As reports of widening FBI investigations and a grand jury surface......

https://youtu.be/o6AUrHnkQuo

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MacroBusiness Tuesday, August 15, 2017 - 00:10 Source

CoreLogic’s Cameron Kusher yesterday published a blog post revealing that the proportion of homes selling for at least one million dollars has risen to new heights, with the immigration and bubble hotspots of Sydney and elbourne leading the way. Below are some key extracts: Over the 12 months to June 2017, 15.4% of all house

The post CoreLogic: Million dollar property sales at record appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 00:06 Source

Judith Sloan has a point today: The National Electricity Market is on its last legs. What started off as a good idea has descended into a joke, with state governments ­increasingly going it alone. …The NEM operates one of the world’s longest interconnected power system. It covers a total distance of about 5000km from Port

The post The gas cartel has wrecked the national electricity market appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 00:01 Source

Global Macro / Markets / Investing: Financial globalisation and market volatility – VOX Why Is It So Hard for Intellectuals to Envision Alternative Forms of Globalization? – CEPR Either China’s Bond Market Or Commodities Are Getting It Wrong – Bloomberg Bond Market Looks Expensive, Until You Factor in Threat of War – Bloomberg Americas: Consumer

The post Links 15 August 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, August 14, 2017 - 19:17 Source

By Christian Marx This week we have seen the murderous ways of the far-right. One woman is dead and many others injured as a result of a white supremacist who ploughed his car into a counter left-wing demonstration. This act of evil is the direct result of the proliferation of hate from corporate, mainstream media.…

The post Manufacturing Social Dislocation: The Road To Fascism appeared first on The AIM Network.

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The Australian Independent Media Network Monday, August 14, 2017 - 18:45 Source

Gee, that’ll make a really great piece for satire, I thought last night. Then, after hearing this morning’s news, I thought, nah, that one’s much better. After a day’s work, and checking the news at times throughout the day, I am forced to admit that in these times of Donald and Malcolm and Barnaby and…

The post Think Of The Children Say Some Church Leaders Without Even A Hint Of Irony… appeared first on The AIM Network.

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En Passant Monday, August 14, 2017 - 18:00 Source


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The Turnbull Government’s requirement for a postal plebiscite on marriage equality but not for sending troops to North Korea only reinforces the importance of voting ‘yes’, says John Passant in Independent Australia.

 

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Renew Economy Monday, August 14, 2017 - 17:26 Source

South Australia government chooses solar tower and storage for its power needs, after SoalrReserve wind tender for baseload power with $78/MWh for 150MW plant in Port Augusta. South Australia suggests it is beginning of the end for coal.

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Renew Economy Monday, August 14, 2017 - 17:26 Source

South Australia government chooses solar tower and storage for its power needs, after SoalrReserve wind tender for baseload power with $78/MWh for 150MW plant in Port Augusta. South Australia suggests it is beginning of the end for coal.

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The Australian Independent Media Network Monday, August 14, 2017 - 16:50 Source

The Australian banker is a smug species, arguably more than his international peers. Caught off guard by the financial disasters of the late 1980s and early 1990s, the Australian banking system has become an expression of a classic oligopoly, manipulating prices and squeezing customers. Such an Australian banker is perky as well, self-assured that any…

The post Money Laundering in Chief: Scandal at the Commonwealth Bank of Australia appeared first on The AIM Network.

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MacroBusiness Monday, August 14, 2017 - 16:22 Source

by Chris Becker Its bounceback day here in Asia as no news about North Korea is good news, with Friday’s night slight return to risk helped today with positive Chinese economic prints. Although the industrial production number disappointing, the mood has been positive, with Yen also weakening slightly alongside gold as Aussie dollar came back

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Monday, August 14, 2017 - 15:46 Source

The great immigration conspiracy of silence has descended upon Dick Smith with Domainfax implicitly positioning him with US neo-Nazis: “The Labor Party’s beholden to what they call their ‘ethnic vote’. They’re deluded. They think the ethnic people who are here want unlimited immigration – they don’t. They don’t want to turn Sydney into Shanghai. “The Liberals are

The post Pollies refuse to meet ‘neo-Nazi’ Dick Smith appeared first on MacroBusiness.

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Renew Economy Monday, August 14, 2017 - 15:07 Source

Federal treasurer says cheap new coal power a "myth", federal energy minister says it must be considered – even if the market disagrees.

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MacroBusiness Monday, August 14, 2017 - 15:06 Source

He’s got to go: The Opposition laughs in excitement as Bill Shorten tells the PM how the New Zealand government has confirmed Joyce is a citizen of NZ. Turnbull says the High Court will find in Joyce’s favour, winning jeers from the Labor backbench. “The Leader of the National Party, the Deputy Prime Minister, is

The post Barnaby confirmed as deputy PM of NZ, a appeared first on MacroBusiness.

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MacroBusiness Monday, August 14, 2017 - 14:39 Source

As I noted earlier today, Chinese data today was the first persuasive signal that growth is set to slow as expected in H2 this year. Capital Economics has more:  The activity and spending data for July all came in below expectations, reversing most of improvement seen at the end of Q2. Nonetheless, industrial production

The post Some more on a slowing China appeared first on MacroBusiness.

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Renew Economy Monday, August 14, 2017 - 14:35 Source

Powerwall, as part of the newly created Tesla Tiny House is hitting the road and making its way around Australia.

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Renew Economy Monday, August 14, 2017 - 14:25 Source

Market Forces will lodge a new shareholder resolution against Commonwealth Bank after its climate change position statement released today fell well short of its publicly-made 2 degree commitments.

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MacroBusiness Monday, August 14, 2017 - 14:17 Source

Via Reuters: Chinese iron ore futures dropped more than 2 percent on Monday, adding to the previous session’s steep losses, as steel prices extended declines after the Shanghai exchange increased transaction fees to fight speculative trading. The higher fees followed a rally in rebar futures last week to their highest since 2013 amid strong volumes,

The post China rings bell at top for iron ore and steel appeared first on MacroBusiness.

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Renew Economy Monday, August 14, 2017 - 14:10 Source

SEA Electric says $5m CEFC loan will help meet growing demand for technology that converts commercial trucks and vans to electric vehicles.

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Renew Economy Monday, August 14, 2017 - 13:46 Source

The president promised a surge of jobs and tax revenue from oil. His policies won’t deliver either one.

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MacroBusiness Monday, August 14, 2017 - 13:46 Source

By Leith van Onselen With the rate of home ownership collapsing for younger Australians, Westpac’s head of consumer banking, George Frazis, has called for more assistance to be given for first home buyers (FHBs) to help them get on the property ladder. From The AFR: Westpac’s head of consumer banking, George Frazis, says saving a

The post Westpac sheds crocodile tears for first home buyers appeared first on MacroBusiness.

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Renew Economy Monday, August 14, 2017 - 13:43 Source

To support the Paris Agreement’s goal of limiting temperature increase to 1.5°C, Europe will need a CO2-neutral electricity supply by 2045.

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Renew Economy Monday, August 14, 2017 - 13:36 Source

First it was the networks, then the generators. Now it's the retail arms gouging consumers. Bipartisan review of Victoria's retail electricity prices reveals failed experiment that has wound up delivering the most inflated power bills in Australia. Much tighter market regulation is recommended.

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Renew Economy Monday, August 14, 2017 - 13:36 Source

A bipartisan review of Victoria's electricity prices reveals a failed experiment in competitive retail markets that has wound up delivering the most inflated price of energy in Australia, and some of the highest prices in the developed world. Much tighter market regulation recommended.

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Political Owl Monday, August 14, 2017 - 13:33 Source

Kevin Andrews MP :

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MacroBusiness Monday, August 14, 2017 - 13:26 Source

Weeoo, weeoo, weeoo. It appears SSM is imminent: If there ever was an excellent case made for compulsory voting, it’s the election of Donald Trump. Boris Johnson’s Brexit vote is another example, whereby it was possible to thwart the will of the majority. The optional nature of the Liberal Party’s Mickey Mouse postal survey, let

The post Pascometer red lines on SSM appeared first on MacroBusiness.

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Your Democracy Monday, August 14, 2017 - 13:22 Source

bomb 1959

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MacroBusiness Monday, August 14, 2017 - 13:08 Source

See ya and wouldn’t wanna be ya. That’s today’s market message for Ian Narev as CBA jumps on his exit:   Dalian is eroding as China data heralds the slowdown: Not that Big Iron cares: But it will! Big Gas also looks weakish: Big Gold is flying though: I’m a seller here as the DPRK

The post ASX parties on Narev exit appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, August 14, 2017 - 12:46 Source

In November 2009, Four Corners aired a program called Malcolm and the Malcontents. At the time, Malcolm Turnbull was leader of the Liberal party but his support for an ETS was being challenged by Tony Abbott, Barnaby Joyce and Cory Bernardi who feature in the program. Prime Minister Kevin Rudd had ominously identified climate change…

The post Malcolm and the Malcontents eight years on appeared first on The AIM Network.

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