The latest data suggests that momentum in the housing market has softened as buyers await further interest rate cuts from the Reserve Bank of Australia (RBA). This week’s mortgage finance data from the Australian Bureau of Statistics (ABS) showed that the value of new housing lending declined by 1.6% in the March quarter, taking the annual
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International Reading: DOGE worker admits the government works fine and was hoping for more easy wins. – Futurism What has Elon Musk’s Doge actually achieved? – FT Mike Johnson Argues Congress Needs Stock Trading to ‘Support Their Families’ Due to ‘Frozen’ Salaries – Latin Times GOP civil war breaks out over Medicaid as right calls
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Keir Starmer’s attack on our planning system is an almost-perfect repeat of Boris Johnson’s disaster. Why can’t he see that?
By George Monbiot, published in the Guardian 15th May 2025
The precedent is uncanny, and the failure to learn from it downright mystifying. Keir Starmer is rushing gladly towards the catastrophe Boris Johnson inflicted on himself in 2020. Had he set out to stymie Labour’s chances of re-election, he couldn’t be doing it better.
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
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Australia has too many cafes, and many will need to close down. According to IBIS World, over 27,000 cafes and coffee shops operate in Australia. Competition is fierce, with multiple cafes often operating at the same locations. And there isn’t enough consumer demand to sustain them. Australian households are caught in a cost-of-living crisis. Real
Much ado about nothing in iron ore. Some good charts from ANZ. Property steel is still falling. I expect it to fall much more than they do this year. Non-property demand is going nowhere in volume terms. Exports are at risk. The market is supported somewhat by a weak CNY restock. 90-100 per tonne probably
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Now this is some good news on gas for once. The planned LNG import terminal at Port Kembla, backed by billionaire Andrew Forrest’s Squadron, will not be ready to receive gas until at least mid-2027, delaying a key project intended to safeguard Australia’s east coast energy supply. Rob Wheals, the chief executive of Squadron Energy,
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