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FIRB unable to police foreign property buying

March 24, 2015 - 14:05 -- Admin

By Leith van Onselen Foreign Investment Review Board (FIRB) chairman, Brian Wilson, has appeared before the Australian Securities and Investment Commission’s annual conference and admitted that FIRB’s ability to track foreign real estate transactions is “sorely limited” due to fundamental lack of data. From The AFR: “There are about 11 million residential dwellings in Australia, […]

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The population ponzi and housing are linked

March 24, 2015 - 13:24 -- Admin

By Leith van Onselen The Age’s Michael Short has produced a curious article today offering some “innovative” solutions to Melbourne’s housing affordability woes, including living in floating apartments and shipping containers: Would you live in a funky floating apartment? It’s happening all over the world, and might help solve Melbourne’s housing crisis… Floating homes are […]

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Mac Bank: Thermal coal set to worsen

March 24, 2015 - 13:22 -- Admin

From Mac Bank: Weak power demand, a lower cost curve and a build-up of mine inventory have continued to suppress prices. Historical patterns suggest that thermal coal prices are likely to stay flat at best in 2Q, with the high inventory at both mines and powerplants adding downside risk.               Share on Facebook […]

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US to open oil exports?

March 24, 2015 - 13:13 -- Admin

A little note from JPM worth remembering: US Senate Energy Sub-Committee meets during the week to consider lifting crude oil export ban. The tone of the senate hearing was generally positive towards an eventual lifting of the ban with panel members citing “security dividends” that could accrue to the US regarding free trade initiatives and policies on […]

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China Flash PMI tanks

March 24, 2015 - 12:55 -- Admin

This won’t help iron ore (or maybe it will in this upside down world): Flash China Manufacturing PMI™ at 49.2 in March (50.7 in February). 11-month low. Expected was 50.5. Dollar hit 30 pips. Share on Facebook Share on Twitter Share on Reddit + -

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Japan to build gigantic wall to nowhere

March 24, 2015 - 12:40 -- Admin

From AP: Four years after a towering tsunami ravaged much of Japan’s northeastern coast, efforts to fend off future disasters are focusing on a nearly 400-kilometer (250-mile) chain of cement sea walls, at places nearly five stories high. Opponents of the 820 billion yen ($6.8 billion) plan argue that the massive concrete barriers will damage […]

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Woodside cuts 300 jobs

March 24, 2015 - 12:10 -- Admin

From Dad’s Army: Woodside Petroleum will slash about 300 jobs and freeze pay company-wide as it intensifies its cost-cutting efforts in the face of falling oil prices.   Share on Facebook Share on Twitter Share on Reddit + -

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MS cuts Fortescue

March 24, 2015 - 11:57 -- Admin

Here’s another one for the sell-side scrap heap from the SMH blog: Another analyst is turning bearish on Fortescue: Morgan Stanley has cut the iron ore miner’s shares to “underweight” with a price target to $1.65. “Previously we applied a positive stance predicated on an expectation of rising prices and a debt re-finance,” analyst Brendan […]

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Australian downgrades roll

March 24, 2015 - 11:50 -- Admin

Hoocoodanode? From Citi via The Australian: GDP should average 2.4% in 2015 and 3.0% in 2015 vs previous forecasts of 3% and 3.25%, Citi economists Paul Brennan and Josh Williamson say. They expect the RBA to cut rates twice more in this cycle, to 1.75% vs 2.25% currently. The downgrades follow a slight lowering of global […]

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