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Aurizon ices West Pilbara madness

May 11, 2015 - 09:58 -- Admin

From Aurizon today: This project will never see the light of day. It was ill-conceived, ill-timed and a criminal waste of money.

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Mac Bank: Dollar exposed industrials bullish

May 11, 2015 - 09:45 -- Admin

From The Australian come another sell-side update to one of the MB’s favoured themes: Internationally exposed companies generally gave the most positive presentations at the Macquarie Conference last week, with offshore expansion opportunities a key theme, Macquarie says. Among companies highlighting offshore growth opportunities, Macquarie points to Ramsay Healthcare (RHC), Resmed (RMD), Lend lease (LLC),

Macro Morning (trading week)

May 11, 2015 - 09:40 -- Admin

By Chris Becker Friday being the monthly non-farm payroll (NFP) unemployment release in the US gives us the direction of risk sentiment for the remainder of the month. Or so one would think, except the Chinese authorities (in their infinite wisdom) deciding to cut interest rates over the weekend muddy the waters a little more.

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Australia’s last chance Budget

May 11, 2015 - 00:50 -- Admin

After a year of fiscal deterioration, last year’s Budget “emergency” has vanished, from Peter Martin: Tuesday’s budget is genuinely new. Two of the six-member expenditure review committee that put it together weren’t there before – the new Social Services Minister Scott Morrison and the new Assistant Treasurer Josh Frydenberg​. The three top bureaucrats who put it together

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What’s in and what’s out of the Budget?

May 11, 2015 - 00:45 -- Admin

Courtesy of Saul Eslake and Alex Joiner at BofAML: What will be in the Budget In keeping with what has become the normal practice over the past decade or so, many of the decisions to be contained in next week’s Budget have been ‘preannounced’ over the past few weeks. As a result, we know that

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At war with terror, except in real estate

May 11, 2015 - 00:41 -- Admin

From Michael West, one the few journalists left in Australia: …last week when a fund manager touched base and bewailed, albeit with good reason, how real estate agents were still excluded from all obligations under Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act. …The reason for this AML (Anti-Money Laundering) apartheid is the reluctance of government to ping other sectors

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RP Data weekly housing market update

May 11, 2015 - 00:40 -- Admin

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 19 April 2015. This week’s report includes: Latest weekly dwelling value results; Auction results & clearance rates; Latest median house & unit prices; Average time on market & vendor discounts; Mortgage market activity;

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Auction clearances remain strong

May 11, 2015 - 00:40 -- Admin

From RP Data: Combined capital city weighted clearance rate remains steady, showing buyer confidence continues. The number of homes taken to auction this week fell slightly to 2,385, compared with 2,540 over the previous week. However, the preliminary clearance rate of 78.2 per cent has remained steady, down only slightly from 78.6 per cent last week.

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Evil geniuses of climate conspiracy exposed!

May 11, 2015 - 00:19 -- Admin

The government’s counter-revolutionary task force on climate change has chalked up two spectacular wins over the weekend. From the AFR: Danish political scientist Bjorn Lomborg has blamed “toxic politics, ad hominem attacks, and premature judgment” for the University of Western Australia’s decision to pull out of his planned Australia Consensus Centre which would have advised on the

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Australian dollar rally hammers uber-bear

May 11, 2015 - 00:18 -- Admin

Our old mate Crispin Odey is back and not in a good way, from the FT: Odey Asset Management founder Crispin Odey’s flagship hedge fund slumped 19.3 per cent last month, after it was caught out when the Australian dollar strengthened against the US dollar. The large one-month move, from one of London’s best-known hedge

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