Last year it was local councils stripped of hosting Australia Day citizenship ceremonies. Now, MPs could be the ones facing a ban from hosting these ceremonies.
Labor Leader Bill Shorten says the uncertainty surrounding Brexit was bad for the people of Britain, but he urges Australia to continue to focus on trade opportunities, according to AAP.
China may not like it. But then China doesn’t like any actions that challenge the Communist Party’s authoritarian claims to domestic and regional power. However, Chinese displeasure hasn’t stopped the US and Australian militaries from joining for an annual anti-submarine exercise.
After the crushing defeat of the Brexit deal to leave the EU, the UK may turn their backs on the democratic referendum that saw the majority wanting to leave the EU. Now, we could see another referendum take place.
The Chinese economy has been slowing down for some time now, and as the world’s second largest economy, this could have flow-on effects around the world, including Australia.
It’s too soon to call Australia’s tumbling dwelling prices a full-blown crash. But with house prices in Sydney and Melbourne falling in 2018, the picture isn’t rosy.
Now, as lending in the housing market falls below its 10-year average, Treasurer Josh Frydenberg is urging banks to start approving home loans.
The Rum Rebellion is a new free daily e-letter brought to you by Port Phillip Publishing’s Head of Research Greg Canavan. The service provides a uniquely Australian voice commenting on the nexus between money, stocks, politics and economics.
Aussie stocks had another poor day yesterday, with the ASX 200 falling 0.8%. Commodities were the main drag on the index, thanks to the ongoing plunge in oil prices and now, the iron ore price as well. BHP and Rio Tinto both fell around 3.5%.