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Iron ore

Budget deficit slashed as tax take soars

The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses.In a move designed to ease inflationary pressures, the Mid-Year Economic and…

ASX on three-day winning streak

The Australian sharemarket extended its winning streak to a third day on Tuesday, buoyed by an increase in interest rate-sensitive stocks as traders await fresh US CPI data to be released on Wednesday night (AEDT). The benchmark S &…

Why the Aussie dollar is soaring

For anyone planning a trip to the US in the coming months, the sudden and substantial increase in the Australian dollar will come as welcome news.Against the US dollar, our currency has added nearly 5 per cent over November, the biggest…

ASX climbs despite grim rates warning

The Australian share market rose on Tuesday as traders shrugged off the release of new Reserve Bank board minutes which showed it was prepared to hike interest rates again. The S&P/ASX200 added 0.3 per cent, or 19.8 points, to close at…

Sign Australia is about to be ‘gutted’

In a world of gamed markets and financialisation, iron ore stands out as one commodity still traded largely on fundamentals. There are three clear reasons for the current price falls. The first is that demand for steel in China is weak,…

Chinese city that decides Australia’s fate

In the 122 years since the individual colonies of Australia were federated into an independent nation, Australia has been consistently reliant on exports and the health of economy’s far beyond on our shores. In the early decades of…

Mysterious move could cripple Australia

Recent events in the iron ore industry — a critical part of Australia’s economy — have raised concerns about its stability, with questions around China’s relationship as Australia’s key trading partner swirling. Although the price of iron…

Clive Palmer sues Australia for $300b

Mining billionaire Clive Palmer has launched a $300 billion lawsuit against the Australian government over the Balmoral South Iron Ore Project in Western Australia. Palmer’s Singapore-based company, Zeph Investments, has served a notice of…

Panic as Brazil, China ditch US dollar

Brazil has just cut a deal with China to ditch the US dollar when paying each other for trade goods. It’s the latest victory in Beijing’s long-term drive to stomp on the greenback and establish the yuan as the dominant international…

Two more major building firms collapse

Another two more construction companies in Western Australia have gone under due to labour shortages and increasing construction costs. WA Housing Group, founded in 2019 and focused on custom builds and remodelling, was forced into…