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Investment giant pumps as it dumps Aussie bank paper

October 17, 2017 - 12:19 -- Admin

Amusing stuff! Aberdeen Asset Management, which manages more than half a trillion dollars worth of assets, said there was no housing bubble in 2015 and re-affirmed this view in a new research paper written by its Asia Pacific head of property research Milan Khatri. “We don’t believe that the Australian housing market is in a

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New car sales trend lower in September

October 17, 2017 - 11:49 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released new motor vehicle sales for the month of September, which registered a 0.5% seasonally adjusted decline in the number of sales over the month and a 0.8% fall over the year: Six jurisdictions reported decreases in new car sales in August whereas two

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Zero urgency in RBA minutes

October 17, 2017 - 11:41 -- Admin

RBA minutes: Domestic Economic Conditions Members commenced their discussion by noting that the Australian economy had grown by 0.8 per cent in the June quarter, in line with the Bank’s forecast. Growth in consumption and the contribution from net exports had been higher than in the March quarter, partly reflecting the unwinding of temporary factors. Members noted

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Coal Energy Target is some serious skullduggery

October 17, 2017 - 11:33 -- Admin

My head is exploding on this new energy stuff. The Greens are in uproar: Greens leader Richard Di Natale says the government has “effectively pulled out of the Paris Agreement” as he labelled Malcolm Turnbull “hollow” and “cowardly”. Senator Di Natale said the government would “argue against the laws of physics” by saying it could

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Turns out Australia’s company tax rate isn’t high after all

October 17, 2017 - 10:52 -- Admin

By Leith van Onselen The Business Council of Australia (BCA) and the Turnbull Government continue to argue that Australia’s company tax rate is among the highest in the world and that if we don’t reduce it then  Australia will be left behind economically. For example, here’s the BCA’s chief executive, Jennifer Westacott, commenting on this

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The great superannuation rip-off

October 17, 2017 - 09:53 -- Admin

By Leith van Onselen Following former treasurer Peter Costello’s call last week for compulsory superannuation contributions to be taken out of the hands of bank-run retail super funds and union-backed industry super funds, who are gouging members with excessive fees, and instead be invested in a government-run fund, commentators at The Australian have unloaded on

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NSW plays Highrise Harry for a chump

October 17, 2017 - 09:42 -- Admin

By Leith van Onselen “Highrise” Harry Triguboff has reportedly turned to vendor financing to maintain apartment sales to Chinese buyers. From The AFR: Meriton has spent $120 million cutting prices and covering stamp duty costs for buyers of its apartments over the past year, founder Harry Triguboff says. Cutting prices by five per cent and additional

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RIO pumps iron ore hard

October 17, 2017 - 09:37 -- Admin

From RIO’s third QTR production report: Pilbara operations Pilbara operations produced 241.9 million tonnes (Rio Tinto share 198.4 million tonnes) in the first nine months of 2017, one per cent lower than the same period of 2016, mainly due to weather disruptions in the first half of the year. Third quarter production of 85.0 million

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Use spare older workers to overcome ‘labour shortages’

October 17, 2017 - 09:11 -- Admin

By Leith van Onselen A few weeks back, the Benevolent Society released a report which found that age-related discrimination is particularly rife in the workplace, with over a quarter (29%) of survey respondents stating they had been turned down for a job because of their old age, whereas 14% claimed they had been denied a

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Macro Morning

October 17, 2017 - 09:00 -- Admin

By Chris Becker Another night of record highs on stock markets with US Treasuries falling after Fed Chair Janet Yellen indicated more interest rate rises are on the way. Currency markets were not as USD focused, with Pound Sterling falling on Brexit fears and the Euro weaker due to Spanish political imbrolios. The lack of

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