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Renew Economy Thursday, October 17, 2019 - 14:01 Source

AEMO offers glimpse of new energy system, one dominated by wind and solar, with storage, batteries and EVs playing a key role, and fossil fuels barely to be seen.

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MacroBusiness Thursday, October 17, 2019 - 14:00 Source

Via Wood Mackenzie: There has been an uneasy tension around hard coking coal (HCC) prices for some time. Few would argue that US$200/t prices for seaborne HCCs were sustainable. But at the same time, the market had become accustomed to sky-high prices, kept artificially strong while China focused on restructuring its steel and coal sectors.

The post What killed coking coal? appeared first on MacroBusiness.

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Prosper Australia Thursday, October 17, 2019 - 13:54 Source

The true value of public transport is well understood by property investors. It is certainly understood by John Sidoti MP. He is currently facing ICAC after purchasing land near proposed new rail developments during his time as parliamentary secretary to the ministers for transport and planning. So why can’t some of this value be leveraged […]

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The Australian Independent Media Network Thursday, October 17, 2019 - 13:42 Source

Media release from the Office of the Public Advocate Vulnerable Victorians living in disability accommodation remain in abusive situations for months due to NDIS bureaucracy. This was a key finding the Community Visitors Annual Report, tabled in State Parliament today. Nearly half of all serious incidents in disability group homes reported by the visitors each…

The post NDIS red-tape leaves vulnerable Victorians in abusive homes appeared first on The AIM Network.

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MacroBusiness Thursday, October 17, 2019 - 13:40 Source

Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 3.8% decline in the final national auction clearance rate to 73.5% – well above the same weekend last year (47.0%) and above last week’s 67.6%: As you can see, Sydney’s

The post Final auction clearance rate surges to mid-70s appeared first on MacroBusiness.

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Renew Economy Thursday, October 17, 2019 - 13:35 Source

zali steggall parliament house politics - optimised legislationZali Steggall to propose climate legislation to parliament based on UK example to compel government action on climate change.

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MacroBusiness Thursday, October 17, 2019 - 13:20 Source

Via SCMP: A building frenzy in southern China’s answer to Silicon Valley has driven the vacancy in Grade A offices to a record high, putting the squeeze on part-time developers whose blind inexperience have led them into the industry. A record 1.79 million square metres (19.27 million sq ft) of vacancy, equivalent to 10 of

The post Trade war empties China’s office towers appeared first on MacroBusiness.

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Renew Economy Thursday, October 17, 2019 - 13:17 Source

telecommunications devices in the data center network internet - optimisedAGL makes $27.5 million offer for regional telecommunications company as energy giant revives plans to offer combine energy and data services.

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MacroBusiness Thursday, October 17, 2019 - 13:00 Source

From Nathan Attrill at Lowy Interpreter: In a week which began with images of Xi Jinping waving at his own giant portrait in a military parade for the People’s Republic of China’s (PRC) 70th anniversary, it ended in an even more surreal manner – with a cartoon Winnie the Pooh being strangled to death in

The post Don’t trust corporations to liberalise China appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 12:40 Source

In today’s webinar, hear from MB Fund’s Head of Investment Damien Klassen and Tim Fuller as they investigate “Revelations from the coal face of Australian Lending with Stephen Mitchell.” Stephen’s the CEO of private capital lender Oak Capital, and second-tier mortgage broker Resicom. With the Australian property market in major flux, we take an on-the-ground

The post MB Fund Podcast: Confessions of a non-bank lender appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 12:30 Source

As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for September, which registered a 14,700 increase in total employment and a decrease in the headline unemployment rate (from 5.3% to 5.2%) due to a 0.07% decrease in labour force participation. In trend terms, the unemployment rate was steady at

The post ABS employment in detail: More bad news for wages appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 12:20 Source

Instead, it will lower living standards. With dwelling construction crashing, and population growth remaining turbo-charged on the back of never-ending mass immigration, pundits are now tipping that Australia’s housing market will soon shift back into chronic shortage: “CBA estimates suggest an undersupply of apartments from 2020,” CBA economist Kristina Clifton said… Ms Clifton said an

The post The next houses shortage will not boost rents or prices appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 12:00 Source

Via Wood Mackenzie: International gas and LNG prices have collapsed. For most of 2019, the global market has seen improving gas supply and intense supplier competition result in lower prices. In August 2019, Asian spot LNG prices went below U.S.$4 per million British thermal unit (mmBtu) (A$5.70 per gigajoule (GJ)), two and a half times

The post A much bigger gas crisis is building in Australia appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 11:45 Source

Labor’s caucus will shortly decide whether to support the federal government’s proposed free trade agreements (FTA) with Indonesia, Hong Kong and Peru. Sources have indicated that Labor is unlikely to oppose the legislation. Meanwhile, the ACTU is lobbying Labor MPs to oppose the bill, due to concerns about issues such as allowing thousands of Indonesians

The post Labor betrays workers to support wage-crushing Indonesian FTA appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 11:31 Source

The ABS is out with September Labour Force and the news is decent: SEPTEMBER KEY POINTS TREND ESTIMATES Employment increased by 20,200 to 12,942,800 people. Full-time employment increased by 9,000 to 8,840,200 people and part-time employment increased by 11,300 to 4,102,600 people. Unemployment increased by 1,600 to 718,000 people. Unemployment rate remained steady at 5.3%.

The post Australian unemployment eases appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 11:30 Source

In July, the Victorian Government launched a $600 million funding package to remove dangerous flammable cladding, the cost of which is to be split 50/50 by taxpayers and a new developer building levy. Now, the Victorian Government has announced new laws to chase ‘dodgy’ builders for the costs of rectification. From The AFR: On Tuesday

The post Victorian Government chases ‘dodgy’ builders for flammable cladding costs appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 11:15 Source

Welcome to the future of Aussie banks, via UBS on UQ: ONE LINER NPAT miss on higher Bad Debts. Dividend cut for the second consecutive half. KEY NUMBERS (FY19) FY19: (1) Cash NPAT down 14% to $320m (Cons. $330m); (2) Cash basic EPS down 16% to 80cps (Cons. 81cps); (3) Final 2H dividend 31cps (Cons.

The post UBS: BOQ cuts divvy again appeared first on MacroBusiness.

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The Tally Room Thursday, October 17, 2019 - 11:00 Source

I’ve posted a few times recently about the Brisbane City Council ward redistribution, but it’s not the only Queensland council redrawing its electoral boundaries.

A total of 17 councils are undergoing redistributions during this council term in the lead-up to next March’s election.

So far 11 of these 17 councils have finalised their boundaries. The draft boundaries have been published for the other six (including Brisbane) and I would expect them all to be finalised fairly soon.

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MacroBusiness Thursday, October 17, 2019 - 11:00 Source

Via Washington Post: U.S. and international law enforcement authorities have shut down one of the world’s largest child pornography websites following a raid and the arrest of Jong Woo Son, the underground site’s alleged South Korean-based administrator, federal officials said Wednesday. Federal prosecutors with the U.S. attorney’s office in Washington, D.C., and IRS and Homeland

The post Paedocoin exposed appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 10:45 Source

Via BofAML: Tweeting the October Global FMS #bottomline: Oct FMS shows investor sentiment bearish despite credit & equity rally; if trade war and BREXIT fears unrealized in Q4 then macro can beat expectations validating our contrarian bullish view. #up-in-cash: FMS cash levels up to 5.0% from 4.7%, leaving BofAML Bull & Bear Indicator at an

The post BofAML: Bearish fundies point market higher appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 10:15 Source

Yeh, they’re onto it at last. Deputy Governor Guy Debelle today: The housing market has a pervasive impact on the Australian economy. It is the popular topic of any number of conversations around barbeques and dinner tables. It generates reams of newspaper stories and reality TV shows. You could be forgiven for thinking that the

The post RBA outlines “sizeable” construction crash appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 10:00 Source

Via Domain and drawn from the OMG files: A University of Queensland student has sought a court order similar to a restraining order against the Chinese Consul-General in Brisbane, Dr Xu Jie, who he claims has endangered him by describing him as an anti-Chinese separatist in a statement published on the Consul-General’s website. Drew Pavlou,

The post Bullied student seeks restraining order against Angry China diplomat appeared first on MacroBusiness.

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Your Democracy Thursday, October 17, 2019 - 09:56 Source

taliban

Time for Gus to drink the Red Ned served at Communion or sing “god is my way” with Brian Houston’s deluded multitudes?

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MacroBusiness Thursday, October 17, 2019 - 09:40 Source

As stalled developments mushroom across Australia’s east coast following a surge in completions: The AFR reports that desperate developers are offering up to $20,000 in cash to clear the backlog of high-rise apartments and house-and-land packages: Cash payments of $20,000 are being offered to buyers of high-rise apartments around Melbourne’s central business district amid concerns

The post Desperate developers puke cash for unwanted apartments appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 09:20 Source

L-plate Treasurer Josh Recessionberg continues down his self-destructive path today. Via the AFR: In an interview with The Australian Financial Review before flying to an International Monetary Fund meeting in Washington DC, Treasurer Josh Frydenberg said restoring the budget to surplus was not a vanity exercise but integral to the government’s plan to buttress the

The post He ain’t called Recessionberg for nuthin’ appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 09:15 Source

Via SEEK: “We are seeing a slight improvement in the market with the rate of job ad decline moderating, with September at -7.4% compared to August, which was -8.6%. Month to month we continue to see growth come from the large employing sectors of Community Services and Development which has seen a jump from 13%

The post SEEK: Bedpan jobs boom rolls on appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 09:00 Source

Texture from Reuters: Benchmark Dalian iron ore futures slumped in morning trade on Wednesday, extending losses into a third session, after China’s top steelmaking city of Tangshan issued a second-level smog alert that requires mills to further limit operations. …The losses widened further after China outlined its annual anti-pollution plan for winter in a document

The post Daily iron ore price update (the thumpening) appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 08:30 Source

By Chris Becker  Wall Street pulled back slightly overnight with a mixed Europe also weighing on positive sentiment as retail data disappointed and UK CPI came in lower than expected. Lack of news on a looming Brexit deal kept the continental currencies elevated slightly, while the US retail sales print saw USD flop, spiking Aussie

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MacroBusiness Thursday, October 17, 2019 - 06:14 Source

DXY fell last night as EUR lifted: The Australian dollar was mixed against DMs: And EMs: Gold firmed: Oil too: Not metals: Nor miners: EM stocks are trying: So is junk: The Treasury curve flattened: And bunds: Aussie bonds copped it:   And stocks eased: It was a US and Europe double bunger that lifted

The post Australian dollar lifts on US and Europe double bunger appeared first on MacroBusiness.

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MacroBusiness Thursday, October 17, 2019 - 00:10 Source

Via S&P: China would probably agree to a side deal on currency policy if it rests on allowing market forces to play a greater role, said S&P Global Ratings today in a report titled “Trade Deal Entree With A Side Of Currency.” The U.S. has become fond of including currency provisions in its recent trade

The post US/China currency deal madness appeared first on MacroBusiness.

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