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Links 15 November 2019

November 15, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Wework loses $1.3 billion against topline of $934M ahead of aborted IPO – Bloomberg Is retirement dying? The old work model is disappearing for boomers, Gen Xers – USA Today Global Economy ‘Breakdown’ Seen Putting More Workers at Risk of Slavery – VOA News Google reportedly offering checking accounts

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Macro Afternoon

November 14, 2019 - 17:00 -- Admin

Stocks are generally down across Asia with only local issues rising due to the fall in the Aussie dollar as the latest unemployment print undershot, sending interest rate expectations down with it. The risk off mood hasn’t been helped by a slip in Chinese industrial production numbers alongside retail sales. Chinese stocks are diverging in

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Can Hong Kong anarchy “happen anywhere”

November 14, 2019 - 15:00 -- Admin

So says the FT: Demonstrators and police officers are experiencing a kind of epiphany when they realise there are no repercussions for smashing the thin veneer of civility. As a consequence, the range of acceptable behaviour has widened dramatically and the most brazen and outrageous actions are becoming normalised. This is fed by social media

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Scummo ignored repeated fire chief warnings

November 14, 2019 - 14:45 -- Admin

Via News, this does not read well for anybody: A group of 23 former fire and emergency chiefs tried repeatedly for several months to warn Scott Morrison and senior government ministers of a looming bushfire crisis. Had they been successful in their requests for a meeting, the group would’ve urged authorities to immediately lease aerial

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Insolvent developers forced into fire sales

November 14, 2019 - 14:30 -- Admin

Earlier this week, we learned that construction insolvencies are booming, according to ASIC: Insolvencies in the $150bn residential and non-residential construction industry remain at a high level… insolvencies in the three months to September jumped 78 per cent in Victoria, 41 per cent in Queensland and 7 per cent in NSW. This was a significant

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Westpac: RBA still won’t cut until Feb

November 14, 2019 - 14:15 -- Admin

Via Justin Smirk at Westpac:: The October Labour Force Survey surprised with a –19.0k decline in employment – the market median was for 16k while the lowest forecast in the range was +7k. It was a surprisingly soft update all the more so for while the participation rate eased back to 66.0% from 66.1%, as

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Who are the “quiet Australians”?

November 14, 2019 - 14:00 -- Admin

Not me, that’s for sure. The ABC investigates: Claiming victory on election night six months ago, Scott Morrison said it was “the Quiet Australians who have won a great victory tonight”. “It has been those Australians who have worked hard every day, they have their dreams, they have their aspirations; to get a job, to

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China unbalances as it builds like its life depends upon it

November 14, 2019 - 13:46 -- Admin

Amazing data again from China in October. All weak: Industrial Production 4.7% Fixed Assets Investment  5.2 % Retail Sales 7.2% All part of the relentless slowing: Under the bonnet, the all important real estate sector continues a near one man band super effort. Sales are still weak: So are developer land purchases though they have

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Final auction clearance rate holds at 70%

November 14, 2019 - 13:45 -- Admin

Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 1.4% decline in the final national auction clearance rate to 72.0% – well above the same weekend last year (43.3%) and above last week’s 68.0%: As you can see, Sydney’s

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Universities required to declare CCP links

November 14, 2019 - 13:30 -- Admin

Via the AFR: Under sweeping new rules, universities will have to fully disclose who they’re working with on research projects and all financial dealings with other countries and donors, as the federal government demands action against “corrupting” foreign interference. Amid concern about China’s influence in universities that have become heavily financially dependent on foreign students, research projects