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Fundy titan makes goose of himself on rates

August 19, 2015 - 12:00 -- Admin

From the AFR in US interest rates: Magellan’s Hamish Douglass…rattled out plenty of evidence for a rate rise – such as the fact that investors in Europe and the US are accepting negative or zero returns while nations like Mexico can raise funds for 100 years. …”We believe is it’s likely that these transitory effects are

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Leading index sliding away

August 19, 2015 - 11:43 -- Admin

From Westpac’s chief economist, Bill Evans: The six month annualised deviation from trend growth rate in the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months in the future, decreased from 0.02% in June to –0.49% in July. As we noted last month, the change in the growth

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DEEWR jobs ads plod sideways

August 19, 2015 - 11:41 -- Admin

DEEWR August job ads are out: A bit better on the month but still very luke warm:  State by state mix is pretty odd though year on year makes more sense:

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Gina mini-me defends 457 labour importation

August 19, 2015 - 11:31 -- Admin

By Leith van Onselen Gina Rinehart-backed Bannister Downs Dairy has warned that Australia has a problematic “workforce culture”, whereby younger people did not want to do menial labour or wanted to get paid too much money to do it, thus forcing businesses to use imported labour under 457 worker visas. From The Age: “It is

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Miner probes chicken’s butt for profits

August 19, 2015 - 11:27 -- Admin

From the AFR: The iron-ore business is so lousy that one Canadian mining company is shelving its biggest project and starting a new venture: selling Australian eggs to China. The abrupt shift at Century Iron Mines was prompted by a global iron-ore surplus that sent prices plunging 68 per cent in four years. Chief executive officer

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Red Book: Housing sentiment souring

August 19, 2015 - 11:16 -- Admin

From Westpac’s superb Red Book: ― Survey responses around housing shaped as a particularly important aspect of the Aug survey. The ‘time to buy a dwelling’ sub-index fell heavily in Jul (–15.4%), pointing to a potential break-out from the 105-120 range that had prevailed since early 2014. The Aug update showed a decent 8.2% rebound

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Should we build roads or rail?

August 19, 2015 - 10:47 -- Admin

By Leith van Onselen Opposition transport spokesman, Anthony Albanese, has penned a spirited piece in the Huffington Post asking whether Australians are being left “stranded on roads to nowhere”: Mr Abbott’s exclusive roads agenda is a policy cul-de-sac which will have far-reaching effects on urban quality of life in Australia. The National Infrastructure Audit by Infrastructure

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Lousy ASX profits plod through lost decade

August 19, 2015 - 10:45 -- Admin

From The Australian: Deutsche Bank’s Aussie equity strategist Tim Baker says it is “not a good start” to reporting season. With some 30 per cent of companies having reported – or 45 per cent by market cap “the picture isn’t great so far,” Baker says. He says the ratio of beating forecasts to falling short

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Melbourne’s population monster feasts on

August 19, 2015 - 09:55 -- Admin

By Leith van Onselen Earlier this year, the ABS released its annual population figures for Australia’s capital cities, which revealed that Melbourne has dominated the nation’s population growth, leading the way in each and every year since 2004 (see next chart). Over the decade to June 2014, Melbourne added just under 800,000 people – well

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