Via AFR: The days of Chinese companies bidding up asset prices in Australia appear to be numbered, after the banking regulator in Beijing ordered a review of the sector’s exposure to the most acquisitive private firms. The companies singled out for review include property and entertainment conglomerate Dalian Wanda, which has interests in Sydney and
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By Leith van Onselen Lost among the ruckus over the South Australian Budget’s implementation of its own bank levy was the announcement that foreign buyers and temporary residents will also be levied an additional 4% stamp duty from 1 January 2018: Surcharge on foreign buyers of residential property The State Government is introducing a conveyance
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From NAB: NAB has today announced changes to its variable home loan interest rates, effective Friday 30 June 2017. The following three changes have been announced: The interest rate for owner occupiers making principal and interest repayments will decrease by 0.08% per annum, to 5.24% per annum The interest rate for owner occupiers making interest
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By Jane Salmon Piling on against Hanson is hard to resist. She’s under-educated and holds the entire nation back. There is not a vulnerable or minority group she hasn’t tried to isolate or turn the white middle Australian bogan pack on. This is more of the same. However, disability parents owe her thanks for this…
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By Leith van Onselen Last week, Victoria’s Planning Minister, Richard Wynne, assured Melbournians that a fire like the one which engulfed London’s Grenfell Tower, killing more than 50 people, could not happen in Melbourne: “This would not be possible in Melbourne, or Australia in fact, because we have the strongest building codes really of any
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A few weeks ago, Queensland Premier Palaszczuk and Adani’s Australian head, Jeyakumar Janakaraj opened the company’s new Regional Headquarters in Townsville. It was announced that “Townsville will benefit from about 500 jobs in Adani’s regional headquarters and about half of those should happen within weeks”.
By Leith van Onselen You don’t have to be a rocket scientist to acknowledge that the unprecedented immigration-fueled population growth into Victoria: Which is projected to continue ad infinitum: Necessarily requires massive infrastructure spending to ensure that incumbent residents’ living standards are not eroded. So why then has the Victorian Government slashed funding for road
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Via UBS: US$ Earners Outperform In Face Of Stronger AUDUSD Our “US$ Earners” (which make up 17% of the ASX200 market cap) have continued to outperform the broader market this year despite a moderately stronger AUDUSD, posting an average return of 13.7% versus 3.1% for the ASX200 over the last six months. The decoupling of
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By Leith van Onselen It’s now official. The Senate last night voted 34-31 in favour of the Turnbull Government’s schools funding package. It follows two days of parliamentary debate over the package, which the Government agreed to increase from $18.5 billion to $23.5 billion in order to gain the support of Senate crossbenchers. The first
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Macquarie has released its monthly Chinese steel mill survey and it paints a picture of a sector in rude health: Opinions on the outlook for the steel and iron ore markets appear to have diverged in line with recent price performance. Steel mills and steel traders are more optimistic in our latest survey than
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A fading China, downgrades, levies, housing bubbles and no growth. Why would you own an Aussie bank? UBS see more to come: South Australia hits the banks with a further State Bank Levy In today’s South Australian budget, Treasurer Tom Koutsantonis announced it will be introducing a state based Bank Levy on the Major banks
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Via the ABC: It is said “success breeds success”, but at troubled professional accounting body CPA Australia, it seems failure is delivering a pretty healthy revenue stream. Amid mounting controversy about CPA Australia’s management style, heavy spending on promoting its chief executive officer Alex Malley as well as his $1.8 million pay packet, heavy losses
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By Chris Becker A mixed night – read: traders looking at each other working out what to do – as oil hovered at its recent lows, Treasuries sold off and USD remained firm as US stocks put in a scratch session, unable to decipher the latest domestic political agenda, particularly for healthcare stocks. In
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By Keith Davis “I have never had to flee my country in order to save my life. How lucky am I? I have never had to fear being returned to a country where the likely consequence of such an unwanted move would be my death. How lucky am I?” I wrote those words many months…
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