The great contest killing the budget
The audit commission’s clear picture of Australia’s hopeless fiscal mess, public-sector inefficiencies and state-federal duplications will in most cases be ignored.
Iron ore miners will be spitting chips
Goldman Sachs sees the iron ore price sinking to $80 per tonne next year as a surplus in the metal’s seaborne market emerges much faster than expected. But the pain is likely to fall far more heavily on Australian than Chinese mines.