The gas scum want a pat on the back: APA Group will spend $20m to upgrade a pipeline in Queensland to transport new gas supplies from Senex’s new $1bn expansion, after the two companies signed a 20-year agreement. The deal will facilitate much-needed gas to Australia’s east coast as the region struggles with a looming
A less hawkish than expected RBNZ that held fire at today’s meeting was the only major economic release outside of China to move markets today with the Middle Kingdom’s latest inflation figures not having much of an impact. Local stocks are flat while the USD remains relatively strong against the majors as Wall Street prepares
Data from the Australian Bureau of Statistics (ABS) shows that the nation’s job mobility rate has fallen to around pre-pandemic levels. About 8% of Australians changed jobs in the year to February, compared with 9.6% in the previous corresponding period. Some 27% did so in order to get a better job or because they wanted
The notion that the Reserve Bank of Australia (RBA) needs to hike the official cash rate (OCR) further was put into question on Tuesday amid a hat-trick of weak economic data. Three private surveys were released on Tuesday: (1) NAB June Business Survey; (2) WBC/MI July Consumer Sentiment Survey; and (3) SEEK’s June Employment Dashboard.
What is it, who knows, all I can say is it a regular occurrence: More than 30 fire trucks are responding to a large factory fire in Derrimut, in Melbourne’s west. Fire Rescue Victoria said there had been a large chemical explosion at the factory on Swann Drive, resulting in a significant fire. Crews arrived
Via Goldman. Interview with Daron Acemoglu, Institute Professor at MIT and has written several books, including Why Nations Fail: The Origins of Power, Prosperity, and Poverty and his latest, Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity. Below, he argues that the upside to US productivity and growth from generative AI technology over the next decade—and
The Australian’s Judith Sloan has labelled the Albanese government’s Future Made in Australia (FMIA) legislation an act of crony capitalism and a charade. Treasurer Jim Chalmers contends the rationale for the FMIA is about the “global economy being transformed by the net-zero opportunity”. However, Sloan argues that the latest developments in this area should give
Barristas are burning: Hospitality businesses are failing at nearly twice the rate of a decade earlier, as industry players warn that soaring food and energy prices are pushing an increasing number of cafes and restaurants to the brink of collapse. Independent Food Distributors Australia chief executive Richard Forbes said restaurant suppliers had typically experienced a
I warned on Monday that the Victorian Government’s idiotic decision to forge ahead with the $200 billion Suburban Rail Loop (SRL) would starve existing transport corridors and growth areas of funding for decades. As a result, the Victorian Labor government will consign the state’s taxpayers to decades of debt servitude and reduce the living standards
In January, The AFR reported that plans to triple foreign investment fees for purchases of established homes and to double the vacancy fee for homes that overseas investors own could breach double-taxation agreements with eight countries, including India. Worse, “large numbers of property buyers from India, in particular, may be eligible for tax refunds”, reports