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Vale mulls S11D expansion

June 20, 2019 - 11:00 -- Admin

Via BNAmericas: Brazil’s supreme court of justice has authorized local miner Valeto resume operations at its largest iron ore asset in Minas Gerais state, the 30Mt/y Brucutu complex. In a release on Wednesday, Vale said that the decision will allow the full resumption of wet processing operations at Brucutu within 72 hours, thus increasing the average

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NZ GDP per capita growth lowest since 2011

June 20, 2019 - 11:00 -- Admin

By Leith van Onselen Statistics New Zealand has released national accounts figures for the March quarter of 2018, with Gross domestic product (GDP) rising by 0.6% over the quarter to be up 2.7% year-on-year. GDP per capita rose by 0.1% over the March quarter and rose by 0.9% year-on-year – the lowest annual GDP per

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Is an NBN writedown imminent?

June 20, 2019 - 10:45 -- Admin

By Leith van Onselen Last month, the NBN reported that it “continues to bleed” cash as revenue targets remain elusive: In its third-quarter results, released on Monday, NBN Co announced revenues of $2 billion but a net loss of $3.4 billion for the nine months to March 31, bringing accumulated losses to $20.7 billion over

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MB Fund Podcast: Oil Canary Dead in the Cage? LIVE TODAY

June 20, 2019 - 10:40 -- Admin

This week’s LIVE webinar (12:30pm AEST, Thursday 20th June) – we dive into our take on the current state of the global liquid dinosaur trade. Key short term fundamentals reflection on recent price volatility What are the implications for global growth, markets and interest rates? How do these short term measures play into our longer forecasts? Join

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Interest only mortgages swing from downside to upside risk for house prices

June 20, 2019 - 10:30 -- Admin

APRA released quarterly ADI property exposures yesterday. It is a great guide to many things but I use it mostly to track interest only mortgages. The good news is that the interest only mortgage bubble that drove the last leg up in Australian house prices is now massively de-risked. The March quarter saw IO mortgage

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China is enjoying a little funding squeeze

June 20, 2019 - 10:15 -- Admin

Via Bloomie: China’s central bank has acknowledged its monetary tools are insufficient. The most powerful ones are proving too blunt to drill through a hardening financial system. The country’s money markets have been shuddering since regulators took over Baoshang Bank Co. last month, despite initial assurances from the central bank and other authorities that they would maintain ample liquidity.

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Faulty apartments create generation of “mortgage prisoners”

June 20, 2019 - 10:00 -- Admin

By Leith van Onselen Australia’s apartment market is in crisis. On Christmas Eve, all residents at the 392-apartment Opal Tower high-rise were evacuated after serious cracking sent soundwaves across the complex. And then over the weekend, residents of a 12 year-old, 10-storey high-rise apartment complex in Mascot were evacuated after cracks were discovered in the foundation

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Back in the USSR: How China saw the Hong Kong rebellion

June 20, 2019 - 09:45 -- Admin

Via Bloomie: As hundreds of thousands of protesters march in Hong Kong’s streets against unpopular China-backed extradition legislation, another battle is unfolding across Beijing’s Great Firewall. Photos and information about the biggest protests since the handover of the former British colony are being systematically wiped from China’s internet. Meanwhile, Chinese state media is pushing a

Aussie bond rocket passes Betelgeuse

June 20, 2019 - 09:30 -- Admin

On and on it goes, at all news highs again: And still there is no curve steepening. Indeed the belly of the curve inverted more deeply than any time in this cycle: We could not outdo US bonds and the spread narrowed: It is the end of inflation.

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Centre Alliance patriots hammer gas cartel

June 20, 2019 - 09:15 -- Admin

Bravo Centre Alliance, via the AFR: The Coalition is risking a brawl with the gas industry by actively considering a domestic gas reserve on the east coast for new projects as part of its push to get income tax cuts through parliament. The proposal, similar to a gas quota policy conceived by Labor three years

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