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Dumb coal gets its comeuppance

June 9, 2015 - 00:07 -- Admin

From The Guardian: Norway’s parliament has formally endorsed the move to sell off coal investments from its $900bn sovereign wealth fund, the world’s biggest. It is the largest fossil fuel divestment yet, affecting 122 companies across the world, and marking a new success for the fast-growing and UN-backed climate change campaign. …A dozen coal-related companies

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More poor China data

June 9, 2015 - 00:05 -- Admin

The first batch of Chin’a May data arrived yesterday and if it’s going to set the tone for the week ahead then the iron ore top will be in. Trade data for May registered a 2.8% fall in exports, which was slightly better than the 4% expected but imports continue to tank with commodity prices,

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Another Greek deadline upon us

June 9, 2015 - 00:03 -- Admin

From BofAML: The European proposal is asking three times more fiscal measures than what the former Greek government was willing to accept, despite a much lower primary surplus target. The Greek proposal is not specific enough on reforms, while insists on pre-election promises that we believe are unacceptable to the other side—reversing labor market reforms

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Queen’s Birthday links, June 8, 2015

June 8, 2015 - 01:12 -- Admin

Asia China Merchants’ explosive private-banking growth sets up global expansion push – SCMP Finance ministers’ talks back on track – SCMP Androids invade Japan’s service industry – Nikkei Asian Review Japan’s fertility rate headed for long-term decline – Nikkei Asian Review The key to India’s economy? Look to the heavens – Nikkei Asian Review Turks

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Weekend Links June 6-7, 2015

June 6, 2015 - 10:09 -- Admin

 ….updated Sunday morning… China China’s Stock Market Capitalization Set to Reach $10 Trillion – Bloomberg China’s retail investors don’t care what you think about their stock market – CER Banking on a Remote Future for Chinese Homes – Caixin Asia Growth pains for Asia’s eco-capitalists – Reuters India GDP growth is one-third statistical illusion –

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ASX at the close

June 5, 2015 - 16:01 -- Admin

Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets News that Greece deferred its IMF payment due this week resulted in a bund rally as the sell-off in Greek bonds resumed. While optimism had been growing that progress had been made in negotiations between Greece and its creditors, it’s clear there is still

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ACCI right on income & land taxes, wrong on negative gearing

June 5, 2015 - 14:36 -- Admin

By Leith van Onselen The Australian Chamber of Commerce and Industry (ACCI) has provided a response to the Abbott Government’s tax discussion paper, calling on the Government to, among other things, end bracket creep and implement a broad-based land tax in place of inefficient and inequitable stamp duties: The ACCI’s roadmap for tax reform consists

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BHP joins big oil carbon price push

June 5, 2015 - 13:18 -- Admin

You wouldn’t read about it, from the AFR: In an exclusive interview with AFR Weekend, BHP chief executive Andrew Mackenzie confirmed that he “was in conversation” with the group of six petroleum industry chief executives who are reported to have approached the UN and national governments with expressions of interest in manufacturing a workable global

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China local debt falls as debt swap stutters

June 5, 2015 - 13:10 -- Admin

Cross-posted from Investing in Chinese Stocks. Jiangsu govt bond issued at 100. Sina shows no trades, but: In the days after the deals printed, the secondary market has shown precisely what it thinks about the pricing of these bonds. Many haven’t traded at all – private investors are clearly giving them a wide berth –

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Four ways to clean up corruption in land rezoning

June 5, 2015 - 13:03 -- Admin

Cross-posted from The Conversation: One routine governance decision prone to corruption is the zoning of our cities. Land zoning rules supposedly ensure complementary uses are co-located while conflicting uses are not. For instance, zoning ensures chemical plants are not built next to schools and electricity grids are planned for areas with future population pockets. But

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