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Banks pounded as utility future sinks in

May 3, 2017 - 13:39 -- Admin

Dalian is hosing off iron ore coking coal today: Big Iron is down sharply with RIO and BHP leading, the latter at new correction lows: So much more to come! Big Gas is up despite oil: Big Gold too: The real action today is in banks which are all down approaching -2% as their run

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Labor to lift foreign worker visa fees

May 3, 2017 - 13:13 -- Admin

By Leith van Onselen From The Australian comes Labor’s response to the Turnbull Government’s crackdown on 457 visas: A Labor government would triple the cost of temporary foreign worker visas to encourage bosses to look locally… A four-year visa would cost about $1600 a year, up from the $575 a year for two years under

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Domainfax goes ex-journalism

May 3, 2017 - 13:08 -- Admin

Via The Guardian: The editorial director, Sean Aylmer, outlined the numbers in an email to staff on Wednesday, a month after announcing the restructure which will see the mastheads narrow their coverage and rely more on contributors. …“While we will be looking across all parts of the newsroom, at the end of the redundancy program

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Citi forecasts 2018 Australian housing bust

May 3, 2017 - 12:54 -- Admin

Via Citi at the AFR: House prices could fall as much as 7 per cent by 2018 as lending curbs bite and household debt is lowered, according to Citi. “APRA’s tightening measures probably contributed to the April prices result, but Easter and school holidays may also have contributed to the slowdown. Given the stretched house price

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Game of Mates: Grey gifts

May 3, 2017 - 12:37 -- Admin

Excerpt from Chapter 4 of Game of Mates: How favours bleed the nation. Get the book via gameofmates.com. Follow Cameron on Facebook and Twitter. Come to the Brisbane book launch on 23rd May, 6pm at Avid Reader, West End (Details and RSVP link) At its core, the underlying power that James co-opted when playing the

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The Iron Road to nowhere

May 3, 2017 - 12:35 -- Admin

Sadly it falls to poor old me to once again pop an iron ore dream: SA MINING company Iron Road’s $4.5 billion Eyre Peninsula iron ore mine and infrastructure projected is set to create thousands of jobs after receiving approval from the State Government. The Central Eyre Iron Project, if developed, would employ up to

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Cost of living pressures rose in March quarter

May 3, 2017 - 11:43 -- Admin

The Australian Bureau of Statistics (ABS) today released its cost of living indices for the March quarter, which revealed increasing cost of living pressures across cohorts, but especially pensioners and welfare recipients (see below table). According to the ABS, the cost of living for households headed by working Australians rose by 1.5% in the year

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New Zealand First doubles down against population ponzi

May 3, 2017 - 11:09 -- Admin

By Leith van Onselen I noted last week how anti-immigration party, New Zealand First, has increased its voter support from 3% to 10.5%, according to the latest Roy Morgan polling, meaning that it could hold the balance of power and decide who forms the next government. Well, this morning New Zealand First’s leader, Winston Peters,

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Bob Gregory slams Peter Costello’s tax vandalism

May 3, 2017 - 11:07 -- Admin

Via The Guardian: One of Australia’s most respected economists has questioned the Turnbull government’s ability to balance the budget, saying the budget is projecting large tax increases to close the deficit but the government hasn’t admitted that yet. …But he warns that path to budget repair is unrealistic because the public won’t accept personal income

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