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Renew Economy Tuesday, May 18, 2021 - 15:00 Source

A major new report from the IEA highlights a potential pathway to net zero - and Australia will be a loser if it doesn't act soon.

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Renew Economy Tuesday, May 18, 2021 - 14:50 Source

Origin Energy's Eraring power station.

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Renew Economy Tuesday, May 18, 2021 - 14:49 Source

 Alcoa Australia).New analysis from BloombergNEF finds green aluminium is already cost competitive, and Australia could be a global superpower.

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Renew Economy Tuesday, May 18, 2021 - 14:46 Source

Wind Turbine Construction investor confidence - optimisedWind industry leaders say that despite hot investor appetite and lots of opportunity, developers are in "excruciating pain" trying to get projects online.

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MacroBusiness Tuesday, May 18, 2021 - 14:30 Source

Last year, independent economist Saul Eslake slammed the heavy handed display by the Victorian Government and Police against its own citizenry in enforcing its draconian COVID-19 lockdown rules. According Eslake, Victorians during the first lockdown payed almost $6 million in fines for breaching COVID restrictions, $2.2 million more than the rest of the country combined:

The post Saul Eslake slams Victorian police state appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 14:00 Source

The Fair Work Ombudsman (FWO) has taken court action against warehousing company Winit (AU) Trade over allegations that it underpaid 30 migrant workers in Sydney by $368,684. The FWO claims that four of the underpayments by Winit meet the definition of ‘serious contraventions’ under the Protecting Vulnerable Workers section of the Fair Work Act, which

The post Fair Work Ombudsman uncovers more migrant wage theft appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 13:30 Source

Gold has rebounded strongly in recent weeks as the generalised inflation panic has built up a head of steam. It has been particularly helped by the peculiar combination of high US inflation and a weakening DXY, trigger by the recent US jobs report which hinted at stagflation. This has led to a slump in real

The post New gold bull market or bear market rally? appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 13:00 Source

Despite having constitutional responsibility for quarantine, and having the nation’s deepest pockets, the Morrison Government continues to pass the buck to the states. Yesterday Prime Minister Scott Morrison outright rejected Queensland’s proposal to quarantine international arrivals in a mining-style camp near Toowoomba because it is located too far away from Brisbane Airport and a major

The post ScoMo’s quarantine negligence grows appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 12:40 Source

The federal government is considering renaming its “Pensions Loan Scheme’ (PLS), which was broadened in the May 2021 Budget . The expanded PLS allows retirees to borrow up to 150% of the aged pension rate against the equity in their home and is open to all retirees over the age of 60, not just those

The post Retiree reverse mortgage scheme needs overhaul not facelift appeared first on MacroBusiness.

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Renew Economy Tuesday, May 18, 2021 - 12:27 Source

The days of a ‘set and forget’ bidding strategy are long gone in Australia in a rapidly changing market with more wind and solar.

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Renew Economy Tuesday, May 18, 2021 - 12:21 Source

 VestasNew "game-changing" technology could be the final technological step towards a fully recyclable wind turbine.

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MacroBusiness Tuesday, May 18, 2021 - 12:20 Source

Morgan Stanley with a sensible note. I don’t agree with all of the allocations. Especially materials which I argue should be underweight as China slows fast but it’s still a solid framework: We’re entering mid-cycle faster than normal. Rate of change on growth & policy has peaked, and valuation is falling. Taxes, tapering & transitions

The post MS: Stocks in post-war boom appeared first on MacroBusiness.

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Renew Economy Tuesday, May 18, 2021 - 12:15 Source

Canva - NSW wind farm landscape Australia WWF - optimised

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MacroBusiness Tuesday, May 18, 2021 - 12:00 Source

There is only one thing worse than the Morrison Government under-investing in the economy to meet some political goal of budget austerity. That’s the Morrison Government electing to spend money and falling foul of its hapless implementation and project management. Exhibit number one is the vaccine rollout, the only job that Morrison gave himself in

The post Morrison’s mates cream the vaccine failure appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 11:40 Source

RateCity has released interesting data via Domain showing how new mortgage buyers are facing growing rates of mortgage stress, especially across Sydney and Melbourne. According to RateCity, the median buyer in Sydney needs to earn around $186,500 with a 20% deposit to avoid ‘mortgage stress’ – defined as spending more than 30% of a household’s

The post New buyers face rising mortgage stress appeared first on MacroBusiness.

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Renew Economy Tuesday, May 18, 2021 - 11:40 Source

German utility to consider earlier than planned shutdown of controversial coal-fired power plant after government sets higher emissions targets.

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MacroBusiness Tuesday, May 18, 2021 - 11:20 Source

Fairfax is at it again, claiming the restaurant industry is facing a “critical shortage of chefs, managers and sommeliers” necessitating the return of foreign workers. The usual arguments are put forward: The entire sector’s pandemic recovery is at risk without immediate access to a foreign workforce. More than 46,000 jobs are currently unfilled nationwide in

The post Restauranteurs prove immigration is used to suppress wages appeared first on MacroBusiness.

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Renew Economy Tuesday, May 18, 2021 - 11:04 Source

Trina Solar Australia assistant director and pillar of Australian solar industry, Govind Kant, 47, has died after contracting Covid19 in India.

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MacroBusiness Tuesday, May 18, 2021 - 11:00 Source

Another terrific note from Nordea: Finally, there was a pick-up in volatiliy. At least in the equity market. Bond and currency markets didn’t react much at all to the surprise surge in the US CPI “inflation” index. By the close of the week, the latter two markets (2y/5y/10y yields and the DXY index) had retraced

The post Nordea: The end of Oprahnomics appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 10:40 Source

Is a new US housing bubble inflating? US house prices have been on the march with global prices. Is this a rerun of the pre-GFC period when prices were driven wild by the worst collapse in lending standards in history? Or is this something different?  Deutsche is worried: Around many parts of the world housing

The post Not again! A new US housing bubble inflates (or not) appeared first on MacroBusiness.

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Renew Economy Tuesday, May 18, 2021 - 10:40 Source

JinkoSolar today announced that it was invited to participate in the panel discussion “Corporate Leadership: Getting On With Business” at 2021 Smart Energy Conferenc

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MacroBusiness Tuesday, May 18, 2021 - 10:20 Source

Speculation is mounting that S&P will strip Australia’s AAA rating. To my mind, this throws up a strange paradox. One on hand, what is the point of S&P if it does not? Australia’s fiscal outlook has thrown out the medium and long-term commitment to surpluses which constitute a key plank of AAA. On the other

The post What happens when Australia loses the AAA? appeared first on MacroBusiness.

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Prosper Australia Tuesday, May 18, 2021 - 10:19 Source

I was once told by a senior industry practitioner in a post-graduate property lecture: “The best way to make money in this game is to buy a piece of farm land on the urban fringe and lobby to have it rezoned.” Totally rational approach given the pot of honey in the Planning Ministers tick. The […]

The post Rezoning windfalls tax for Victoria! first appeared on Prosper Australia.

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MacroBusiness Tuesday, May 18, 2021 - 10:00 Source

MB has long argued that the higher education sector’s lust for international students has damaged pedagogical standards, eroding the quality of education and experience for local students. Our claim is evidenced by the following observations: The dramatic rise in the number of students to academic staff at Australia’s universities; and Domestic students being forced into

The post Tudge tells unis to stop shafting domestic students appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 09:40 Source

It’s fair to say that I’ve given crypto a fair hearing. I’ve tracked its rise. Pointed out its contradictions and embraced its uses and logic where they exist. I have always been skeptical. To me, it just looks like an attempt to create private money, which never works because its runs afoul of the sovereign.

The post Crypto stinks it up appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 09:20 Source

The ferrous complex is still in an advanced state of hysteria as spot and paper roar while steel continues to crash: As said in recent weeks, I have no idea where the price is going now in the near term. It is unhinged by fear and greed. What I can say is that the leading

The post Daily iron ore price update (bubble and bust) appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 09:00 Source

A fortnight ago, Jacinda Ardern’s Labour Government tasked the New Zealand Productivity Commission (PC) with undertaking a system-wide review of the nation’s immigration program, with particular focus on the “impact of immigration on the labour market, housing and associated infrastructure, and the natural environment”. The goal of the inquiry is to “enable New Zealand to strategically

The post Jacinda Ardern slams door on wage crushing immigration appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 18, 2021 - 08:30 Source

An inability to find confidence hindered risk markets overnight, with only commodities putting on gains with European and US stocks pulling back after what was a solid finish on Friday night. A lack of economic catalysts and concerns over Middle East tensions may be the underlying cause, but some dovish comments from both BOE and

The post Macro Morning appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, May 18, 2021 - 07:53 Source

Prime Minister Scott Morrison recently visited Williamtown Royal Australian Air Force (RAAF) base, about 26km north of Newcastle, and a photo was put up on his Instagram account showing him walking from the aircraft on a red carpet with an honour guard of six RAAF personnel on each side of the carpet holding flags and rifles1. 

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MacroBusiness Tuesday, May 18, 2021 - 06:47 Source

Overnight action continued the see-sawing action between US yields and other asset classes that has defined the last few months. This time it was yields up and other assets down. DXY was down as EUR bounced: The Australian dollar was pretty much flat: Oil and gold were up with all of the usual soft DXY winners.

The post Australian dollar ugly in the Euro mirror appeared first on MacroBusiness.

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