Squiz Today / 08 August 2018
Squiz Today – Wednesday, 8 August
THREE MINUTE SQUIZ
WITH THE COMMONWEALTH BANK
“When you understand the effects severe drought can have on your community, there is no time for talking, you have to act.”
Marla Hosegood is the Commonwealth Bank’s Moree branch manager – and she’s a woman on a mission. Backed by her colleagues across NSW and the ACT, the team has raised $80,000 to help the Burrumbuttock Hay Runners. We caught up with her for a Three Minute Squiz to talk about how the drought is affecting her community and what prompted her to take action.
WE’RE 25 (MILLION)!
We’re getting bigger, faster. No, not our waistlines (although that is also true). We’re talking about Australia hitting the 25 million-population mark while you were sleeping last night. The increase is mainly due to migration, not a baby boom. Overall, our 1.6% growth rate is outpacing the world's 1.2%.
WHAT'S THAT ALL ABOUT?
Australia has been going through a migration boom. Current net overseas migration (the number of arrivals minus departures) makes up 62% of our population growth. The rest is our ‘natural increase’ via new bubs. Social commentator George Megalogenis says; "Last time that happened was in the gold rushes of the 1850s." And the main issue on the minds of politicians, economists, infrastructure planners and demographers is the stretched resources in Sydney and Melbourne (and, to a lesser degree, south-east Queensland) where most migrants are settling.
WHAT HAPPENS NEXT?
You should expect immigration and population policy to become a political football, particularly in this coming election year. There is already talk of setting up a parliamentary inquiry into how our infrastructure is going to cope with our fast-growing population. And yesterday Citizenship Minister Alan Tudge talked about a program to place migrants around Australia to help other areas with their skills shortages and take pressure off Sydney and Melbourne. Consider the issue firmly on your radar.
SQUIZ THE REST
US PUTS SANCTIONS BACK ON IRAN
US President Donald Trump has made good on his promise to reimpose sanctions against Iran after walking away from the multination nuclear agreement. Under the terms of the 2015 deal, America relaxed sanctions in exchange for Iran curbing its nuclear activities. But those days are over. There are implications for countries trading with Iran with Trump tweeting that if they continue, they will "NOT be doing business with the United States." There's a clash ahead with the EU vowing to protect firms doing legit business with Iran. Iranian President Hassan Rouhani says he wants to talk. #goodluckwiththat
CALIFORNIAN FIRE BIGGEST EVER
Still with the US, the fire situation in California is getting worse. There are 18 major fires currently burning, the largest of which is the Mendocino Complex Fire that has grown by 80% since Friday night to become the largest the state has ever seen. The Carr fire (which last week claimed the lives of two children and their great-grandmother) took its seventh victim yesterday. Aussie and Kiwi firefighters are there to help the 14,000 emergency services personnel with the big task of bringing the fires under control.
INTEREST RATES STAY AT 1.5%
The Reserve Bank has held our interest rate at the record low level of 1.5%. Falling home prices, low wages growth and high levels of household debt are issues on the bank's mind. But it's happy with our level of employment growth, reckons inflation rates will go up, and that our economic growth rate for this and next year should exceed 3%. Yesterday's decision marks two years since the last official interest rate move.
WESFARMERS GO COAL (AND COLES) FREE
The Perth-based company has sold its stake in the Bengalla coal mine making the company free of coal assets for the first time in almost 30 years. New(ish) CEO Rob Scott has made some big calls since taking the reins, and there are more on the way. Pundits say they expect Wesfarmers will move into new industries and businesses after the Coles supermarket demerger is finalised later this year.
GAFF SUSPENDED FOR BRADSHAW HIT
The AFL tribunal has handed down an eight-match suspension to Andrew Gaff, the West Coast Eagle who broke the jaw of Fremantle Dockers opponent/mate Andrew Brayshaw. Seeing himself as a “caring, gentle and measured person”, Gaff said he is in a “world of pain” because of his actions. Almost as much as Brayshaw, who is recovering from surgery to fix his jaw and dislodged teeth… The suspension ends Gaff’s season.
And while we have you… sprint champ Usain Bolt is taking steps to become a pro footballer with news he will train with the Central Coast Mariners for “an indefinite period” starting later this month.
PINK SICK AS BEYONCÉ BLOOMS
Popstar Pink has had a shocker of an Aussie tour to date. She has cancelled three shows in five days; first with a sore throat, and then gastro. And it's not like she's bunging it on – she’s been in hospital. Some fans were irate on Monday night because they weren’t notified until after the venue doors opened. Still, Pink is incredibly popular in Oz and holds the record for the biggest selling tour by a solo female artist in Australia, outselling Adele and Taylor Swift. Meanwhile, Beyoncé is a bloomin’ beauty on US Vogue’s September issue cover…
SQUIZ THE DAY
11.30am (AEST) - Speech by Philip Lowe, Reserve Bank Governor on 'Demographic Change and Recent Monetary Policy' - Sydney
ABS Data Release - Housing Finance, June
Company earnings announcements - AMP; Commonwealth Bank; Tabcorp
Roger Federer's birthday (1981)
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