Your Daily Scan of the New Global Economy

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Australia
Donald Trump orders more Iran sanctions as Saudi Arabia readies attack proof US President Donald Trump says he has ordered Treasury Secretary Steven Mnuchin to “substantially increase sanctions” imposed on Iran, amid escalating tensions between Washington and Tehran. Posted: September 18, 2019 2:48 pm by ABC.net.au
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'Months rather than years': UK pins hopes on swift post-Brexit Australian trade deal Britain’s Trade Minister says she expects her Government to complete a wide-ranging trade deal with Australia within months of exiting the European Union. Posted: September 18, 2019 9:17 am by ABC.net.au
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Car makers costing consumers $1b a year in mechanic's bills because they won't share data, ACCC says Australia’s car owners are paying more than $1 billion a year more than they need to because car makers are refusing to share technical information with independent mechanics, according to the competition watchdog. Posted: September 18, 2019 8:49...
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Butcher's 'non halal certified' sign changed after complaint upheld by ad watchdog An Adelaide butcher shop with a sign claiming its products were “non halal certified” changes its signage after the advertising watchdog upheld a complaint that it perpetuated “a culture of vilification” towards Muslim people. Posted: September 18, 2019 8:17 am by ABC.net.au
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Retail sales are surging — or are they? Two of the big banks have very different views It is one of the big questions hovering over the Australian economy: has the combined impact of lower borrowing costs and tax cuts loosened consumers’ purses strings? Posted: September 18, 2019 6:48 am by ABC.net.au
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How Much of Your Super Fund is Government Bonds? Almost three trillion dollars. That’s what the total value of Australia’s superannuation system is predicted to be at the end of this year. Right now, it’s at $2.5 trillion. Not bad for a country of 25 million people. Now let’s put that figure in perspective. Australia’s...
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Why the Markets Will Fall in October Gold took a tumble three weeks ago. Diving from US$1,550 to as low as US$1,485 in a little over a week. That’s a 4.9% slide. While the fall was unexpected, I don’t expect it to last. As Jim has written over the past couple of weeks, China and...
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One Attack? Or the Start of Something Bigger… I can’t remember a time when the Asian market open was watched so closely. Yet this morning, I’ll bet a year’s salary most US traders stayed up late into the night to see what would unfold… And they wouldn’t have been disappointed… US crude futures soared 15%...
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What Goes Up…and Up…and Up, Must Come Down How long did it take for the US’ sub-prime meltdown to send your portfolio skidding? The US housing market topped out in 2006, or even earlier. Durable goods orders shrunk that year too. It took a few quarters for the American statistics keepers to realise they were...
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What the Aussie Dollar Reveals about Gold As I write this, the US dollar gold price is a few bucks under US$1,500. Last week I mentioned that gold would fall into the US$1,500–20 range. Well, it did, but then dived another 10 bucks or so lower as Trump and China pretended to reach a truce....
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