Global Macro / Markets / Investing:
- Goldman Sachs warns of $1.2B loss from consumer unit: report – NY Post
- Tesla reportedly lays off 200 Autopilot employees in latest jobs cut – Engadget
- Uber, Lyft drivers switch to Teslas amid high gas prices – Yahoo
- Ten Ways Billionaires Avoid Taxes on an Epic Scale – ProPublica
- Crypto Exchange Unizen Receives $200M ‘Capital Commitment’ From Investment Group GEM – Yahoo
- Covid falls off world leaders’ agenda despite remaining threat from the virus – NBC News
- Microsoft faces investor call to publish tax data – Yahoo
Americas:
- Research Suggests the Pandemic has Accelerated the Decline of the American Middle Class – MSN
- ‘There is no more retirement’: Retirees are heading back to work amid soaring inflation — here’s what you need to know – Yahoo
- Every branch of the military is struggling to make its 2022 recruiting goals, officials say – NBC
- California sending out ‘inflation relief’ checks up to $1,050: Here’s how much you’ll get – KTLA
- ‘Just stop buying lattes’: The origins of a millennial housing myth – The Hustle
- America’s richest self-made woman grew up on a dairy farm—now she has a net worth of $11.6 billion – CNBC
- California Fights Inflation by Sending People Free Money – Reason
- Inflation will probably fall, but it won’t be the Fed’s doing: Morning Brief – Yahoo
Europe:
- While key workers facing poverty are being told to accept wage cuts, Downing Street is lifting pay caps for bankers – Tribune Mag
- The boomers destroyed the Tories – Unherd
- UK Economy Getting Crushed A Price “Worth Paying” For Freedom In Ukraine – Trade for Profit
- Russian Gas Cuts Threaten World’s Largest Chemicals Hub in Germany – WSJ
- Scottish independence: 19 October 2023 proposed as date for referendum – BBC
- Brexit: More Britons now say UK was wrong to quit the EU – Standard
- Polish court rules that four “LGBT-free zones” must be abolished – Reuters
Asia:
- Chinese company unveils new electric-car battery with 620+ miles of range — 50% more than Tesla’s Model S – Yahoo
- China’s economy didn’t bounce back in the second quarter, China Beige Book survey finds – CNBC
- Chinese manufacturing orders decline by 20-30%, according to shippers, as consumers pull back on buying goods – CNBC
- Analysis: Record numbers of Chinese graduates enter worst job market in decades. – Reuters
- China Eases Covid Restrictions and Will Support Growth – Christophe Barraud
- China’s move to set up a yuan reserve pool with Indonesia, Malaysia, Hong Kong, Singapore and Chile is being seen as a step towards challenging dollar hegemony – Asia Financial
- China’s Qinghai Salt Lake Jumps as New Lithium Carbonate Factory Comes Online – Yicai Global
Trans-Tasman:
- Albanese ‘is not Scott Morrison and that’s a big advantage’, Malcolm Turnbull tells French media – The Guardian
- John Barilaro’s office asked if changes to plum trade job recruitment were possible, inquiry told. – ABC
- Social housing stock barely changes as waiting lists blow out and rental stress doubles across Australia – The Guardian
- Australians double spending through buy now, pay later services, to $11.9bn – ABC
- Melbourne ‘space shuttle’ pods containing a single bed for rent for up to $900 a month – The Guardian
- Police, governments, businesses track protesters. Here’s how to avoid being surveilled – Crikey
- Uber and Transport Workers’ Union strike agreement on gig economy employment standards – The Guardian
- Everything to play for: whistleblower’s home on the line as Lendlease makes merry with tax code – Michael West
- Labor unveils last-minute tweak to controversial jobseeker reforms – ABC
- Banks may be deciding low equity loans to first home buyers are just not worth the risk – Interest.co.nz
- ASB has also ‘temporarily’ stopped offering home loans to those with deposits under 20% – Interest.co.nz
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also Chief Economist and co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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