Property investors drunk on house price 'wealth effect' report warns
AFR, 8 June 2017
Middle-aged property investors are more likely than most Australians to be seduced into tapping rising house equity for consumption, ramping up debt to a level that threatens to become a systemic risk to the economy.
Australia house prices 'very elevated,' ANZ chief executive says
Business Times, 6 June 2017
[SYDNEY] The chief executive of Australia & New Zealand Banking Group Ltd has joined the chorus of voices warning of risks in Australia's surging housing market, though he said the probability of an outright crash is "really low".
John Holland snaps up $80m Sydney site from QIC
The Australian, 5 June 2017
Chinese-backed construction major John Holland Group is stepping up its shift into property development and has swooped on a site in Sydney where it can build a large-scale mixed-use project in a deal worth more than $80 million.
Australian expats caught up in federal government’s ‘foreign investor’ rule changes
Domain, 10 June 2017
The federal government’s changes for “foreign investors” will also apply to some Australian citizens who don’t live in the country, with experts warning it expats should “think twice” before selling their home.
Global house prices: Australia marches up to 20th in Knight Frank index
AFR, 9 June 2017
Australia has jumped to 20th place in Knight Frank's latest global house price index, boosted by booming performances in the Sydney and Melbourne markets.
Currency & Financial
Australia now holds the record for a country not having a recession — 26 years
News.com.au, 7 June 2017
IT’S official, no matter what the doomsayers say and write. Australia now has not had a recession for 26 years — a new world record.
CME Group says slowing China, high debt pose risks for the Australian dollar
SMH, 8 June 2017
From its lows of below US50¢ in 2001 to its highs of $US1.10 in 2015,the Aussie dollar's trading range has been "gigantic", CME Group senior economist Erik Norland marvels.
A financial crisis in China could also take down Australia
ABC News, 8 June 2017
Australia managed to survive the global financial crisis with the help of a huge stimulus program from China.
Agriculture & Food
Qatar's sovereign wealth fund to sell more Australian farming assets
AFR, 7 June 2017
Hassad Food – owned by Qatar's sovereign wealth fund the Qatar Investment Authority – is moving to sell more of its 13-strong rural property portfolio across five states acquired since 2010 to provide food production for the tiny Middle Eastern nation.
Gina Rinehart ushers in a new Kidman cattle era with big plans for Australia's most famed pastoral estate
ABC News, 4 June 2017
From mine dust to bulldust, Australia's richest businesswoman Gina Rinehart takes it all in her stride as she shows the ABC around Helen Springs Station in the Northern Territory.
AGL to build "rapid response" power station in Adelaide
INDAILY, 7 June 2017
AGL will build a $295 million power station near Torrens Island in Adelaide which will be able to provide a "rapid response" to fluctuations in the renewable energy supply.
Australian energy explorer to invest in California gas discovery
Australian Mining, 5 June 2017
Magnum Gas and Power has entered into a Letter of Intent (LOI) with Gasfields LLC to farm in to the Tulainyo high-pressure gas project in California’s Sacramento Basin.
Australia’s high-cost power a stark contrast to US prices
The Australian, 5 June 2017
As US Secretary of State Rex Tillerson and Secretary of Defence James Mattis land in Australia they will find a country that has taken a completely different path to their homeland.
Coles steps up investment to back its ‘Down Down’ cheaper prices push
The Australian, 7 June 2017
Coles says it won’t allow rival Woolworths to steal a march on it when it comes to offering low grocery prices to shoppers, and will accelerate a $65 million investment in prices made in the first half to as much as triple through the second half of 2017.
Rio Tinto bidding war: Glencore offers US$100m more for Australian coalmines
The Guardian, 11 June 2017
A multibillion-dollar bidding war for most of Rio Tinto’s Australian coalmines has broken out between China-backed Yancoal and Glencore after the Swiss commodities company made an unexpected offer.
Retail & Tourism
Malls feel tremors from Amazon
The Australian, 6 June 2017
Real estate groups heavily exposed to Amazon’s entry into Australia have been hit by investor fears that older shopping centres will be decimated by the online giant, but some players will suffer more than their more agile rivals.
Chinese e-commerce giant JD.com is developing a drone that can deliver packages weighing as much as one ton
CNBC, 10 June 2017
China's second largest e-commerce giant is developing a drone that can deliver packages weighing as much as one metric ton throughout rural areas of the country, according to JD.com's Chief Technology Officer (CTO).
China dream still alive with ANZ hungry for institutional growth
The Australian, 9 June 2017
As ANZ’s board visited Beijing and Shanghai this week with a special focus on online commerce, chief executive Shayne Elliott stressed that while the bank was selling down its retail presence in Asia, “we haven’t lost ambition” for institutional growth in the region.
A Word of Caution: Choose Your China Ambassadors Wisely
Business of Fashion, 2 June 2017
SHANGHAI, China — All eyes were on Dior in May when Maria Grazia Chiuripresented her first cruise collection for the French luxury house. Set in the Santa Monica hills in Los Angeles, guests ranged from Rihanna to Charlize Theron to Chiara Ferragni. But one expected face was notably absent: Angela Yeung Wing, better known as Angelababy.
Mark Zuckerberg read this book to understand China — here's what it's about
Business Insider, 10 June 2017
This post is part of Blinkist's books-in-blinks series. The series provides key messages from books that you might not have time to read in their entirety.
China app WeChat to fight fake news
The Australian, 11 June 2017
China's popular social media app WeChat has launched a new feature that warns users if a news item circulating on its accounts is false.
China’s youngest female billionaire Zetian Zhang lists The Rocks penthouse for $18 million
Domain, 9 June 2017
Finding the time to get to your holiday home is hard enough when it’s an 11-hour flight away, even for one of China’s richest couples, e-commerce billionaire Richard Liu and his young wife Zetian Zhang.