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Articles from MacroBusiness

Are new car sales about to boom?

May 27, 2020 - 14:20 -- Admin

According to Robert Gottliebsen, new car sales may be about to boom: Google searches for new and used cars have risen rapidly in recent weeks and this could signal that demand for new and used cars has finally turned… The car industry should benefit from further COVID-19 relaxations. Australians have been slashing their expenditure on

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Rich Listers gush manufacturing nonsense

May 27, 2020 - 14:00 -- Admin

There is nothing more amusing than miners and realtors governing a manufacturing revival. At the AFR of course: It’s the end of April and Nev Power is a lone figure marching up Perth’s St Georges Terrace. He’s on the phone, a device that has become an extension of his body since Prime Minister Scott Morrison

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Time QLD opened up

May 27, 2020 - 13:40 -- Admin

The Queensland government is reviewing its border restrictions on a monthly basis, as it faces growing pressure to relax the ban on interstate travellers. However, Premier Annastacia Palaszczuk says the state will not re-open its borders until no new coronavirus infections have been recorded in New South Wales and Victoria for 28 days. They are

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Falling CNY sends out another AUD warning

May 27, 2020 - 13:34 -- Admin

Another new low for CNY this afternoon: The AUD has trended in lockstep with CNY since 2015, though the amplitude of the moves are larger. The AUD can’t charge on in trend term if the CNY goes the other way because the falling CNY hammers EMs and commodities by making China more competitive across the

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Qatar turns the LNG screw

May 27, 2020 - 13:20 -- Admin

More excellent news for Australian energy prices. Qatar is flooding the global market, at the AFR: Qatar is forging ahead with the expansion of the world’s largest liquefied natural gas project and eyeing investment opportunities overseas despite a slump in global energy demand and the collapse of oil prices. Saad al-Kaabi, the country’s energy minister

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Mascot Tower owners sue neighbours for structural defects

May 27, 2020 - 13:00 -- Admin

In June last year, Sydney’s 132-apartment Mascot Tower was evacuated after large cracks were discovered. Fresh cracks appeared in February, prompting authorities to close shops and set up an exclusion zone around the building. Then last month it was revealed that apartment owners are face a repair bill of $53 million, or $405,300 per apartment.

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Business, unions decide reform is too hard

May 27, 2020 - 12:52 -- Admin

Big news: nothing will happen! At New Daily: Streamlining awards and overhauling enterprise bargaining agreements is worth it for working people, the head of Australia’s largest union says. Australian Council of Trade Unions head Sally McManus says she will be genuinely listening to employers’ groups. “We’re going to give it a go and we reckon

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ASX bath of blood drains into bank rip

May 27, 2020 - 12:43 -- Admin

The Australian dollar is pulling back a little from the overnight surge: Bonds are firm: XJO is holding: Underneath the bonnet, however, there is considerable action. Big Iron is copping it: Big Gas marches on: Big Gold is bashed: But Big Banks have launched as Australia’s virus victory percolates: The financials index has very a

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Sailing barley ships show limits of Chinese power

May 27, 2020 - 12:40 -- Admin

Via The Australian: Australian barley on its way to China has been diverted mid route to Japan and the United Arab Emirates following China’s decision to impose punitive trade tariffs on the grain. Four ships carrying Australian barley have changed course or cargo after rising trade tensions led to China — Australia’s biggest barley buyer

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ScoMo: No extension to JobKeeper

May 27, 2020 - 12:20 -- Admin

Speaking to Sky News this morning, Prime Minister Scott Morrison pushed back against union calls to extend JobKeeper payments beyond its legislated late-September expiry date: “These are temporary measures and it is important that we get the economy out of ICU as quickly as we can. we can’t have Australians living on borrowed money for

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