SA Government blocks Lomborg…err…grant

From The Australian: In a series of statements yesterday aimed at the Flinders University Council and the Coalition, the Weatherill government warned Dr Lomborg that he was not welcome in the state as it would damage South Australia’s image among the climate change fraternity. State Labor also warned Flinders University that its academics would be

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NZ confirms TPP sell-out

By Leith van Onselen Last month, the Department of Foreign Affairs and Trade (DFAT) released a “fact sheet” that promised no adverse changes to Australia’s intellectual property arrangements under the Trans-Pacific Partnership (TPP) trade deal – the US-led trade pact between 12 Pacific Rim nations: Sixth myth: the TPP will require changes to Australia’s intellectual


ASX at the close

Chris Weston, Chief Market Strategist at IG Markets We are supposed to be focusing on the FOMC meeting this week, given the market is only pricing a modest 10 basis points of tightening from the Fed over the coming three months. However, China is firmly front and centre and calls of ‘China’s Lehman moment’ and


Why is iron ore rising?

From Bloomie: Recent weakness seen in Australian shipments is only a temporary lull on the way to further expansion, analyst Christian Lelong said in a note received on Tuesday. When operations among major Australian producers are back at full strength, and a new mine at Roy Hill opens in a couple of months, the downward


Taxpayers cop $50m bill to fight Philip Morris

By Leith van Onselen The Productivity Commission’s (PC) recently released Trade and Assistance Review warned that Australian taxpayers were facing a potential reaming from an investor-state dispute settlement (ISDS) law suite taken against Australia’s plain package cigarette laws by tobacco giant Philip Morris, under an obscure investment agreement with Hong Kong: [Philip Morris Asia] is


Australia’s new boom: Fantasy exports

The AFR is full of it again today on Aussie exports: …”Tourism may also soon overtake iron ore, Australia’s largest export, given we expect the price of iron ore to remain under pressure,” he said. The Barclays note is the latest piece of research suggesting that Australia’s long-awaited transition away from mining-related infrastructure development is well under


South Australia’s economy deteriorates

By Leith van Onselen I wrote earlier this month how South Australia’s economy appeared to be experiencing an employment shock. Full-time jobs growth is tanking: Hours worked are tanking: And unemployment is surging, hitting a 16-year high in June: As reported in The ABC at the time, the collapse of the manufacturing industry is having


Consumer confidence continues bounce

By Leith van Onselen The ANZ-Roy Morgan Research consumer confidence index continued to recover in the week ended 26 July, rising 0.7 points to 112.5 to be tracking around the long-run average of around 113 points (see next chart). ANZ Chief economist, Warren Hogan, welcomed the result but cautioned that it is unlikely to translate


Illegal foreign buyers target QLD

By Leith van Onselen Another day, another report about foreign investors hoovering up established Australian homes, this time in Queensland [my emphasis]: MOVE over, Sydney and Melbourne. Chinese interest in Australian property is increasing, and there’s a new hot location. Chinese purchasing intent was up 35 per cent month-on-month and up 17 per cent on


Australia’s dividend doom loop

By Alpha Beta Strategy and Economics, republished with permission The ASX’s growth problem Australian companies are on an investment strike that is already making the ASX one of the lowest earnings-growth share markets in the world and threatens to damage long term returns for Australian shareholders. Rising dividends & falling investment Instead of using their


Labor is right to oppose China FTA workers

By Leith van Onselen The Australian’s Judith Sloan has penned a vitriolic piece today claiming that Labor leader, Bill Shorten, is a “coward” for siding with the unions in opposing the China-Australia Free Trade Agreement (ChAFTA). Sloan’s main argument revolves around the union’s claims that ChAFTA will allow the importation of cheap Chinese labour, thus


NAB hikes rates on interest only loans

Cross-posted from Martin North. NAB is the latest player to announce mortgage repricing changes, but with a focus in interest-only loans (whether owner-occupied or investment loans). “National Australia Bank today announced it will increase variable interest rates on interest-only home loans and line of credit facilities by 29 basis points. The changes are in response


Roy Morgan: When Bronny belted Tony

Fresh from Roy Morgan: In late July L-NP support is down 3% to 46% cf. ALP 54% (up 3%) after Opposition Leader Bill Shorten sided with the Government on their ‘turning back the boats policy’ and committed Labor policy to ensure 50% of Australia’s energy needs are met with renewable energy by 2030. If a


Labor 50% RET “aspirational”

Crikey it’s pathetic, from Tristan Edis: When questioned yesterday by Andrew Bolt about Labor’s 50 per cent renewable energy target by 2030, Labor frontbencher and a public critic of the Renewable Energy Target several years ago, Joel Fitzgibbon, said: “it’s not a policy – it’s an aspiration”. Shadow Environment Minister Mark Butler effectively confirmed that they