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Articles from MacroBusiness

Shareholders revolt at ProfitKeeper largesse

October 23, 2020 - 12:00 -- Admin

Last month we reported how the Morrison Government’s JobKeeper subsidy has been an absolute boon for Australian business owners, juicing company dividends and profits. This was reflected in the latest national accounts for the June quarter, which showed that employee wages & salaries fell by 3.3% over the quarter while company profits soared by 13.7%:

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Environmentalists must confront population problem

October 23, 2020 - 11:40 -- Admin

Fresh from shamelessly pumping mass immigration propaganda, The Conversation has published a more balanced article calling for environmentalists to confront the world’s bulging population: Brown recently declared the world’s population must start to decline before 2100, telling The Australian newspaper: “We are already using more than what the planet can supply and we use more than the

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Locally acquired COVID-19 infections crater

October 23, 2020 - 11:20 -- Admin

Australia recorded only 10 new COVID-19 infections overnight, down from 21 yesterday: However, only one was locally acquired with the rest returned travelers in hotel quarantine: Victoria’s 7-day average infection rate has cratered to just 2.4: And Melbourne’s 14-day average has cratered to just 5.5: NSW recorded zero new local cases, with 7 overseas acquired

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Another Victorian contact tracing fail?

October 23, 2020 - 11:00 -- Admin

Department of Health and Human Services Testing Commander Jeroen Weimar revealed yesterday that 500 people were instructed to self-isolate for 14 days after a grade 5 student tested positive for the virus in Victoria. The student, who attended East Preston Islamic College, was confirmed positive on Wednesday, resulting in the rapid closure of the entire

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Melbourne listings rocket after real estate restrictions ease

October 23, 2020 - 10:40 -- Admin

From Eliza Owen, Head of Research Australia at CoreLogic: One of the lessons learned about the property market through COVID-19 is that listings numbers have been extremely responsive to changes in social distancing policies. Despite an extended lockdown, Melbourne is no exception. Since onsite, private inspections resumed on the 28th of September, new listings volumes

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The Strayan Weekly: Melbourne wins “world’s most leavable city” award

October 23, 2020 - 10:20 -- Admin

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  Melbourne wins 2020 World’s Most Leaveable City Award Melbourne has been awarded the prestigious “World’s Most Leaveable City” Award for the first time since the early 1990’s. Melbourne shocked a tightly contested field

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Bill Evans on what the RBA should print

October 23, 2020 - 10:00 -- Admin

Via Bill Evans at Westpac: Our views on the likely decision by the RBA on November 3 have been clear since our note on September 23. “All the key policy rates – cash rate; three year target bond rate; and rate on Term Funding Facility will be cut from 25 basis points to 10 basis

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Australian flash PMI grinds higher

October 23, 2020 - 09:40 -- Admin

Via Markit: The recovery in the Australian private sector economy gathered momentum during October amid a further easing of containment measures, according to the latest PMI data. Business activity growth accelerated at the start of the fourth quarter, led by the service sector. The upturn in output was accompanied by a further rise in new

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Macro Morning

October 23, 2020 - 09:30 -- Admin

Wall Street was able to find some confidence overnight even though there was still no progress on fiscal stimulus measures. European stocks were flat at best while the USD returned to strength, mainly due to the fall in Euro. Commodities were again mixed with oil coming back while copper fell alongside gold, while Bitcoin shoots

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