A global recession?

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It’s beginning to look like the economic game of 2016 will be a tug of war, defined by a simple question. Will the plodding but steady U.S. recovery be derailed by the weakness of so-called “emerging market” economies, led by China, Brazil and others? The betting (so far) is that the American recovery will survive, but it’s hardly a sure ... Read More »

Make coal companies pay full costs of clean-up, say Greens

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EXCLUSIVE Greens leader Richard Di Natale has proposed a direct levy on coal miners to fund “billions of dollars” in environmental rehabilitation work on former coal mine and storage sites as well as the retraining of coal industry workers for the clean energy jobs of the future. The Sydney Morning Herald - In one of its most important policy markers leading ... Read More »

Don’t Fear the IMF

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CAMBRIDGE – The International Monetary Fund is, in many places, the organization that everybody loves to hate. According to some, the IMF is bad for the poor, women, economic stability, and the environment. Joseph Stiglitz, whose influence is amplified by his Nobel Prize, blames the IMF for causing and then worsening the economic crises it was called on to resolve. ... Read More »

Forecast for China and US rates steer sentiment amid pick-up in local data flow

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China’s outlook and speculation around US interest rates will continue to drive market sentiment this week, although the line-up of local data releases has just enough weight to move asset prices at the margins. The Canberra Times - Mark Mulligan, Markets and economy reporter Foremost of these is Friday’s retail trade figures for August, which should provide a snapshot of consumer sentiment. Westpac expected an improvement in retail sales ... Read More »

President Xi’s Double Talk on Doing Business in China

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At the start of his visit to the United States, President Xi Jinping of China sought to reassure American companies that his government was committed to protecting the interests of foreign companies and fighting cybercrime. The New York Times – By THE EDITORIAL BOARD “The Chinese government will not, in whatever form, engage in commercial theft or encourage or support ... Read More »

Emerging headache: Brazil sinks deeper into recession

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Poor government policy and slowing demand for natural resources are plaguing the world’s 7th largest economy. Fortune Chris Matthews @crobmatthews Brazil’s central bank now forecasts that the once high-flying emerging market economy will shrink by 2.7% this year—the worst contraction in a quarter century, according to the Wall Street Journal. The revised forecast comes as Brazil’s currency, the real, has ... Read More »

Transfield Services to change name to Broadspectrum as founders sever ties

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Transfield Services will ask investors to approve a name change to Broadspectrum Limited at its annual meeting in October, after its founding family withdrew its rights to use the Transfield name earlier in 2015. The Sydney Morning Herald – Jenny Wiggins and Michael Smith The name change comes as Transfield Holdings, a privately held company owned by the sons of Transfield’s founder Franco ... Read More »

New Well Containment Simulator for GOM

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Wood Group has been awarded a contract with Marine Well Containment Company (MWCC) to provide an operator training simulator, supporting training for containment in the event of a deepwater well control incident in the Gulf of Mexico. The Maritime Executive - By MarEx  Under the contract, the simulator will be developed by Wood Group Kenny using its proprietary software and ... Read More »

ACCC set to investigate whether Australia’s banks are acting unlawfully by blacklisting Bitcoin traders

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Australia’s competition watchdog is set to investigate the country’s biggest banks for shutting down the accounts of Bitcoin traders. ABC – PM By Mandie Sami The ACCC confirmed the investigation to Queensland Nationals Senator Matthew Canavan, who sent a letter to the chairman of the Australian Competition and Consumer Commission Rodd Sims urging him to launch a formal investigation. “It ... Read More »

China factory activity contraction worsens

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China’s factory activity contracted at the fastest pace for six and a half years in September, according to a preliminary survey of the vast sector. BBC – The Caixin/Markit manufacturing purchasing managers’ index (PMI) fell to 47 in September, below forecasts of 47.5 and down from 47.3 in August. A reading below 50 indicates contraction in the sector, while one ... Read More »