Blogotariat

The AFR’s Michael Read reported that Australian insurers lost more than $650 million on home insurance policies over the past four years despite soaring premiums. As illustrated in the next chart, insurance premiums soared by 16.2% last year—the fastest rate of growth since HIH Insurance collapsed in 2000: The Australian Bureau of Statistics (ABS) explained

The post Australians batten down for insurance storm appeared first on MacroBusiness.

Australia's biggest utility, still mulling the closure timing for the country's biggest coal plant, buys a massive wind and battery project in NSW.

Now that we have the final voting figures for the City of Brisbane, it was possible to update the analysis of preference flows and the impact of optional preferential voting (OPV) that I published prior to the election.

Immediately after the election, it became clear that there had been an increase in the proportion of Greens preferences flowing to Labor and vice versa at the 2024 election, compared to the 2020 council election.

DXY remained firm: AUD managed to undo a some damage: No help from North Asia: Oil is awaiting a new shock. New gold shows no sign of paying attention to old drivers like DXY or real interest rates: Dirt fell: Miners too: EM still poised: But junk is risk off: As yields pile it on:

The post Australian dollar to lift on RBA cuts appeared first on MacroBusiness.

The major obstacle to lobbying reform is that for members of parliament, their staff and senior officials, lobbying provides a very lucrative income when they leave parliament, the military or the public service. So they refuse to act on the lobbying scourge.

The lobbying scourge    By John Menadue

Last week, the Australian Bureau of Statistics (ABS) released data showing that only 12,400 homes were approved for construction in trend terms in February, the lowest monthly reading since April 2012. On that run rate, Australia would only build 149,000 homes a year, 91,000 below the Albanese government’s construction target of 240,000 homes a year. Data

The post Construction collapse crushes Albo’s housing target appeared first on MacroBusiness.

A very mixed trading session across stock markets in Asia today due to the fallout of the overnight US CPI print which came in much hotter than expected which spiked the USD but more importantly is seeing bond markets selloff across the world. The Australian dollar went down over 100 pips overnight to the 65

The post Macro Afternoon appeared first on MacroBusiness.

PM's Made in Australia plan could crowd-in private climate capital from the massive super pool and the Big 4 banks.

The latest prototype shows energy beams can be directed from Earth, the latest step towards shooting electricity via microwaves from space.

Climate Council Media Release   THE CLIMATE COUNCIL celebrates today’s announcement that the Future Made In Australia Act is soon to roll off the Federal Government’s policy production line. Climate Council CEO Amanda McKenzie said: “This is exactly the sort of leadership Australia needs to tackle climate pollution, generate clean jobs, and ensure a brighter future…

The post Seizing a Future Made in Australia appeared first on The AIM Network.

Construction is underway on first stage of one of Australia's biggest batteries, designed to support a major data centre and help usher coal off the grid.

Data from the Australian Securities & Investments Commission (ASIC) shows that 502 businesses in the retail sector have gone into administration so far in 2023-24, compared with just 193 during the same period in 2021-22. Factors such as the cost-of-living crisis and high mortgage interest rates are weighing on consumer spending, with smaller retailers bearing

Pacific Energy lands new $350 million debt facility as it seeks to accelerate rollout of remote and off-grid renewable energy systems.