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US jobs preview

December 7, 2018 - 11:45 -- Admin

Via Calculated Risk: On Friday at 8:30 AM ET, the BLS will release the employment report for November. The consensus is for an increase of 190,000 non-farm payroll jobs in November (with a range of estimates between 140,000 to 220,000), and for the unemployment rate to be unchanged at 3.7%. Last month, the BLS reported

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How big a problem is Huawei?

December 7, 2018 - 11:30 -- Admin

At the diplomatic level most definitely and that could deliver a market shock if it goes badly. Via NYT: As President Trump was arranging a trade truce with President Xi Jinping of China in Buenos Aires over dinner on Saturday night, his administration was coordinating the arrest of a top Chinese technology executive who was flying through

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Thanks to Labor, young worker super gouge intensifies

December 7, 2018 - 11:15 -- Admin

By Leith van Onselen The Morrison Government failed to pass its bill that would have seen fees for low-balance superannuation accounts capped at 3% and exempt funds members under the age of 25 from compulsory life insurance after it failed to convince enough cross-benchers to vote for the bill. Consequently, younger workers and those with

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Coalition gives workers one last kick in nuts as it exits

December 7, 2018 - 11:00 -- Admin

As we know, Aussie households are mired in an historic income recession: But it’s not enough for the Coalition. It wants even less money for workers, to wit: The Australian can reveal that Jobs and Industrial Relations Minister Kelly O’Dwyer has ­appointed six new deputy presidents — including four who have worked directly for employer groups

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Adelaide Brighton warns on housing

December 7, 2018 - 10:45 -- Admin

Via ASX: That’s now CSR, FBU, BKW and ABC all warning on the dwelling construction pipeline: It’s only the beginning and they’ve already gone and lost their minds…

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Evaporating Chinese demand to deepen property bust

December 7, 2018 - 10:30 -- Admin

By Leith van Onselen The Foreign Investment Review Board’s 2016-17 annual report, released in May, revealed a sharp contraction in residential real estate applications from foreign buyers, driven by a halving in applications from China: This was followed in October by NAB’s quarterly property industry survey, which revealed a sharp contraction in demand from foreign buyers: Especially

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UK cracks down on money laundering visas as Australia washes furiously

December 7, 2018 - 10:15 -- Admin

By Leith van Onselen The UK has cracked down on their equivalent of Special Investor Visas, halting the scheme because of fears it is being used to launder money. From BBC News: Ministers are halting a “gold-plated” visa scheme offering foreign investors a fast-track to settling in the UK, as part of a crackdown on financial

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Election investment freeze begins

December 7, 2018 - 10:00 -- Admin

It’s a long way out but not soon enough, via The Australian: Two of Australia’s biggest energy companies say they will delay investment in new generation capacity that could help drive down prices until there is more certainty around the direction of policy, after Scott Morrison’s “big stick” legislation to break up retailers who charged

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WA Government summons sub-prime first home buyers

December 7, 2018 - 09:45 -- Admin

By Leith van Onselen Earlier this year, leading real estate rent-seeker, the Property Council of Australia (PCA), pushed another idiotic policy “solution” to fix Australia’s housing affordability woes: offering a government-backed low deposit home loan scheme: A government-backed low-­deposit home loan scheme could help address housing affordability by getting more buyers into the market and

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Real household disposable income also continues to fall

December 7, 2018 - 09:30 -- Admin

By Leith van Onselen The September quarter national accounts was another shocker for Australian households. According to the ABS, the real average compensation per employee fell another 0.7% in the year to September 2018 to be 4.7% lower since March 2012: Yesterday, the Reserve Bank of Australia (RBA) also released real household disposable income (HDI)

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