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Articles from MacroBusiness

Household disposable incomes are also falling

June 14, 2017 - 00:15 -- Admin

By Leith van Onselen The December quarter national accounts was a sobering experience for Australian workers. According to the ABS, the average compensation per employee fell by 0.2% in the year to March 2017 – the lowest growth on record: In a similar vein, separate per capita wages & salaries data registered an 0.7% decline

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Where the CPA saga ends

June 14, 2017 - 00:11 -- Admin

The AFR socked it CPA yesterday: Imagine an ASX listed company replacing direct board elections with an “owners’ council” where shareholders elect representatives who then in turn elect half the members of this council, while the board appoints the other half. Then that “representative” council votes on the membership of the board, from a slate

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Loon Pond comes for clean energy Turnbull

June 14, 2017 - 00:11 -- Admin

Via the AFR: Malcolm Turnbull has been hit with a stronger-than-anticipated backlash over plans to introduce a Clean Energy Target in a battle which is fast becoming a test of his leadership, Liberal sources say. Despite the CET having the support of senior conservatives and other ministers, it did not translate into backbench support late

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China funded shill slams China funded shill for China funding

June 14, 2017 - 00:10 -- Admin

Yes, you read it right. Only in the Australian and Kazakhstani parliaments would it be possible: The government has used a question to Foreign Affairs Minister Julie Bishop to highlight Labor Senator Sam Dastyari’s links to Chinese donors. Ms Bishop said that while the government had always confronted diplomatic challenges, such as China’s conduct in

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Chinese tourist arrivals hit another record high

June 14, 2017 - 00:10 -- Admin

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for April, which continued to show a trend rise in the number of inbound tourists, with Chinese arrivals continuing to boom. The number of short-term visitor arrivals rose 0.7% in April in trend terms, whereas short-term resident

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Daily iron ore price update (new lows)

June 14, 2017 - 00:05 -- Admin

Iron ore price charts for June 13, 2017:   Tianjin benchmark was smacked to $53. Paper was weak again overnight. Steel still holding up. Coals weak. Platts has texture: A supply glut and good availability of cheaper feedstock such as scrap have been the two main depressing factors for the seaborne iron ore market lately. “There’s

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Links 14 June 2017

June 14, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Corporate balance sheets in emerging markets: A comparison of the Global Crisis and the Asian financial crises – VOX The World Bank in the Era of Trump – VOX Trump’s steel import curbs could blow up global trade rules – FT Steel, Aluminum, Lumber, Solar: Trump’s Stealth Trade Protection – PIIE UBS Has

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Macro Afternoon

June 13, 2017 - 17:17 -- Admin

by Chris Becker The selloff in tech stocks overnight has not affected Asian bourses as much as expected, with real caution and volatility still surrounding the outcome of the UK election and the shenanigans in the US. In mainland China the Shanghai Composite zoomed straight up after the long lunch break, reversing some of yesterday’s

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Privatisation adds £50b cost to running Britain’s railway

June 13, 2017 - 14:02 -- Admin

By Leith van Onselen I have explained previously why I believe that various state government plans to sell-off of public assets to pay for infrastructure investment would likely end up being a dud deal for taxpayers and users, who are likely to pay more for services as the new private monopoly owners gouge customers. A

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REIA locust swarms Budget’s foreign buyer CGT changes

June 13, 2017 - 13:30 -- Admin

By Leith van Onselen The property lobby’s opposition to the Federal Budget’s modest changes affecting foreign buyers of residential property continues in earnest, with the Real Estate Institute of Australia (REIA) now complaining that the changes affecting capital gains tax (CGT) will increase real estate agents’ workloads. From The AFR: Under the government’s new regime

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