Articles from MacroBusiness

How extensive is flammable cladding across nation’s high-rises?

By Leith van Onselen Last week, Victoria’s Planning Minister, Richard Wynne, assured Melbournians that a fire like the one which engulfed London’s Grenfell Tower, killing more than 50 people, could not happen in Melbourne: “This would not be possible in Melbourne, or Australia in fact, because we have the strongest building codes really of any

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Victoria’s roads crack-up amid population deluge

By Leith van Onselen You don’t have to be a rocket scientist to acknowledge that the unprecedented immigration-fueled population growth into Victoria: Which is projected to continue ad infinitum: Necessarily requires massive infrastructure spending to ensure that incumbent residents’ living standards are not eroded. So why then has the Victorian Government slashed funding for road

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Dollar-exposed industrials moonshot

Via UBS: US$ Earners Outperform In Face Of Stronger AUDUSD Our “US$ Earners” (which make up 17% of the ASX200 market cap) have continued to outperform the broader market this year despite a moderately stronger AUDUSD, posting an average return of 13.7% versus 3.1% for the ASX200 over the last six months. The decoupling of

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Gonski onski as Senate passes bill

By Leith van Onselen It’s now official. The Senate last night voted 34-31 in favour of the Turnbull Government’s schools funding package. It follows two days of parliamentary debate over the package, which the Government agreed to increase from $18.5 billion to $23.5 billion in order to gain the support of Senate crossbenchers. The first

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Chinese steel sector thumping along

Macquarie has released its monthly Chinese steel mill survey and it paints a picture of a sector in rude health:  Opinions on the outlook for the steel and iron ore markets appear to have diverged in line with recent price performance. Steel mills and steel traders are more optimistic in our latest survey than

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Australian banks re-risked

A fading China, downgrades, levies, housing bubbles and no growth. Why would you own an Aussie bank? UBS see more to come: South Australia hits the banks with a further State Bank Levy In today’s South Australian budget, Treasurer Tom Koutsantonis announced it will be introducing a state based Bank Levy on the Major banks

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ABC joins Naked CEO roasting

Via the ABC: It is said “success breeds success”, but at troubled professional accounting body CPA Australia, it seems failure is delivering a pretty healthy revenue stream. Amid mounting controversy about CPA Australia’s management style, heavy spending on promoting its chief executive officer Alex Malley as well as his $1.8 million pay packet, heavy losses

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Macro Morning

By Chris Becker A mixed night – read: traders looking at each other working out what to do – as oil hovered at its recent lows, Treasuries sold off and USD remained firm as US stocks put in a scratch session, unable to decipher the latest domestic political agenda, particularly for healthcare stocks. In

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Bank protection racket explodes

The conniption begins, from Chanticleer: Bad policy clearly breeds bad policy, as shown by South Australia’s $370 million tax on the big four banks and Macquarie Group. But South Australian Treasurer Tom Koutsantonis has created a problem for himself by aligning his “super profits” tax on the banks with the state’s share of the national

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Mr IQ begins dumping properties

Remember Nathan Birch? He’s dumping properties: For a long time now, I’ve been collecting properties like kids collect action figurines in a happy meal. I never like to see one go. But recently, the finance environment has changed… It’s a bitter pill to swallow for a buy and hold investor – but I need to

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