{"id":15390,"date":"2016-02-05T09:16:22","date_gmt":"2016-02-05T01:16:22","guid":{"rendered":"http:\/\/westchina.austcham.org\/?p=15390"},"modified":"2016-02-27T14:46:51","modified_gmt":"2016-02-27T06:46:51","slug":"financial-services-talking-points-04-02-2016","status":"publish","type":"post","link":"https:\/\/westchina.austcham.org\/?p=15390","title":{"rendered":"Financial Services Talking Points 04-02-2016"},"content":{"rendered":"

\"financial<\/a><\/p>\n

Joyce adamantly denies rumours of a GST increase<\/strong><\/p>\n

Senator Barnaby Joyce, in response to rumours of a GST increase in the near future, has said that “there is no change to\u00a0the GST. There is not even a concrete plan of something to\u00a0consider in regards to changes\u00a0to the GST.\u201d Despite Treasurer Scott Morrison ruling out giving the states any of the extra revenue from a GST increase, Mr Joyce said the\u00a0states, as benefactors of the\u00a0GST revenue that is generated, should be behind any future increase. It is argued that Mr Joyce\u2019s stance on the issue is politically the safest option, considering the fact that Nationals MPs are among those on the Coalition backbench warning of a revolt should the government proceed with the tax increase. Click here<\/a> for full article.<\/p>\n

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Tesla\u2019s stock still showing no signs of recovery<\/strong><\/p>\n

Tesla\u2019s stock has been in a free fall since the beginning of the year, down 28% from $240 to $173, and is breaking through technical support levels. On August 7th<\/sup> last summer, Tesla analyst Adam Jonas raised the stock price target from $280 to $465 (stock was at $243), claiming that an analysis of the company\u2019s shared mobility shows a lot of potential to add value to the company. This week the target was lowered to $333 in response to a slower take-off and lower expectations surrounding the Model 3, lower valuation for Tesla Energy, and increased competition in the electric, shared and autonomous vehicle market in the past four to five months. Click here<\/a> for full article.<\/p>\n

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AGL retreats from gas production projects in response to falling prices <\/strong><\/p>\n

Energy provider AGL, one of Australia\u2019s largest energy retailers, has made the expensive decision to quit gas exploration and production in response to the collapse in oil and gas prices, long lead times for developing the projects, and lower than expected production volumes for Gloucester. Included in the list of projects to be dropped is the controversial Gloucester coal seam gas project in northern NSW which was estimated to supply more than 15 percent of NSW\u2019s gas needs. AGL also plans to sell its natural gas assets in Moranbah, Silver Springs and Spring Gully, all in Queensland. The company\u2019s retreat from gas production projects has come as good news for activist groups who have criticised them in recent months. They argued that the Gloucester project threatens drinking water, dairy, horticulture and tourism operations in the area. Click here<\/a> for full article.<\/p>\n

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Bleak forecast on Australia\u2019s future housing prices as capital outflow from China continues<\/strong><\/p>\n

Goldman Sachs chief economist, Tim Toohey, has claimed that a flood of money out of China in the last six months means that it may be too early to call the top of the property market. There has long been uncertainty about the effect of accelerating private sector capital outflows, however it is predicted to elevate already high house prices. Mr Toohey said that current capital outflows from China is \u201cprobably the biggest private sector movement out of a country since World War II so the idea that it won\u2019t be distortive in this part of the region is too optimistic\u201d. This statement comes as a warning considering a decline in Australia\u2019s employment growth and migration likely won\u2019t be able to keep up with the increasing oversupply of housing in Australian cities. Click here<\/a> for full article.<\/p>\n","protected":false},"excerpt":{"rendered":"

Joyce adamantly denies rumours of a GST increase Senator Barnaby Joyce, in response to rumours of a GST increase in the near future, has said that “there is no change …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-15390","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/15390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15390"}],"version-history":[{"count":3,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/15390\/revisions"}],"predecessor-version":[{"id":15399,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/15390\/revisions\/15399"}],"wp:attachment":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}