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NBN a breeding ground for fat cats

October 22, 2020 - 13:40 -- Admin

When it comes to the age of entitlement, you would be hard pressed to beat NBN Co, which is packed flush with literally hundreds of employees paid exorbitant ‘fat cat’ salaries: NBN Co chief executive officer, Stephen Rue receives the highest salary in the public sector, after earning more than $3 million in the 2019-20

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I’ve signed Kevin07’s media royal commission petition

October 22, 2020 - 13:20 -- Admin

Kevin07 has his problems but I can’t see how having a media diversity RC can do anything but good: Reason: Our democracy depends on diverse sources of reliable, accurate and independent news. But media ownership is becoming more concentrated alongside new business models that encourage deliberately polarising and politically manipulated news. We are especially concerned that

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AUSTRAC demands property money laundering laws

October 22, 2020 - 13:00 -- Admin

The CEO of AUSTRAC – the Australian Government agency responsible for detecting, deterring and disrupting criminal abuse of the financial system – has warned that lawyers, accountants and real estate agents are being used to launder illicit, necessitating then need for the industry participants to be brought into the anti-money laundering (AML) regulatory net: Austrac

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Labor pushes for federal ICAC

October 22, 2020 - 12:40 -- Admin

Labor leader Anthony Albanese has urged the federal government to press ahead with its proposed national integrity commission in the wake of revelations about a controversial land deal at Badgerys Creek in New South Wales. The government paid $30 million for land at the site of Sydney’s new airport that was subsequently valued at just

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Trump closes the gap!

October 22, 2020 - 12:20 -- Admin

Via RealClear some movement to the incumbent at the headline: Battlegrounds not so much: Betting still all over the joint:   No gap closure at FiveThirtyEight: An embarrassingly Trump worshipping Zero Hedge makes a big deal of registrations: Last week, we published an article detailing a warning from JPMorgan’s top quant Marko Kolanvoci to all those expecting

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MB Fund Podcast: Is Superannuation Distorting Investment Markets? LIVE 12:30 AEDT

October 22, 2020 - 12:00 -- Admin

Our attention turns this week to what is most Australian’s second biggest asset, Superannuation. Super means a lot things to every Australian. For some it’s a tax efficient long term savings vehicle that if managed well can provide security and reassurance that retirement will be comfortable and reliable. For others it is an annoying, mandated

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Chinese desperado gobbles up Aussie wool

October 22, 2020 - 11:40 -- Admin

It likes to pretend it can hurt our commodities but, in the end, the Chinese paper tiger is desperately short of pretty much everything, via Bloomie: Mill shutdowns in China, along with weaker demand for textiles, had “turbo charged” a downturn in the market earlier in the year, Robert Hermann, managing director at adviser Mecardo,

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RBA uberbull says print!

October 22, 2020 - 11:20 -- Admin

In his recent Lowy Institute commentary, RBA alumnus John Edwards demanded MOAR: Just as the Australian government has little choice but to continue for some time with the expansionary fiscal stance it adopted in response to the pandemic, so too the RBA has little choice but to continue its expansionary monetary stance. In the RBA’s

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Rampant AUD refills ASX bath of blood

October 22, 2020 - 11:04 -- Admin

The Australian dollar is down sharply this morning after last night’s leap: Bonds are bid except way out past the RBA’s QE horizon: XJO is off sharply: Big Iron is mixed: Big Gas bashed: Big Gold still can’t break the corrective trend: Big Banks have reversed the recent gains: US futures are weak. Also, for

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Only 6 local COVID-19 cases recorded overnight

October 22, 2020 - 11:00 -- Admin

Australia recorded 12 new COVID-19 infections overnight, below yesterday’s 16: However, only 6 were locally acquired, whereas 6 were returned travelers in hotel quarantine: Victoria recorded 5 new infections, the highest in a week: However, Melbourne’s 14-day average infection rate has fallen to just 6.1: Both jurisdictions’ infection rates are bouncing around low levels: Active

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