(Last from me): www.theguardian.com/business/202...

Some news from me: I’ll be leaving my wonderful colleagues at Guardian Australia to take up a role at the Climate Change Authority in the new year.

Looks like Christmas will be hot in Melbourne...and the Boxing Day Test Match will get off to a scorcher: (Via BoM)

Mostly dry in southern Australia from now until Boxing Day... (Via BoM)

Fresh dawn…

ANALYSIS: Five things #Myefo tells us about the state of the Australian economy from @phannam.bsky.social

(New from me): www.theguardian.com/business/202...

Year-end Westpac-ACCI's industry survey finds sentiment finely balanced among manufacturers who were optimistic or pessimistic to round out 2024. The 'Expected' outlook, though, picked up further and is now at its highest since September 2022.

These surveys are amazing - as I found out three years ago: www.theguardian.com/environment/...

Unfortunately, federalism works both ways. Cities and states can do a lot to rectify and fill in for federal government missteps and neglect of vulnerable populations. However, the opposite is also true. Cities can be preempted by their states (and states by federal government), tho not always.

Before the heat…

The Coalition's climate policy plan would result in a cool extra gigatonne of GHGs out to 2050, from Australia's power sector alone. Great analysis by @dylanjmcconnell.bsky.social www.theguardian.com/australia-ne...

Parts of western Melbourne topping 43.3C today, and tomorrow it'll be Sydney's turn to bake. Parts of western Sydney may reach 42C. (Via BoM)

A host of inland regions are competing to be the hottest place in Australia - and probably the planet - today. Presently, this is the hottest station (according to BoM):

(New from me): Jim Chalmers reveals two appointments to Reserve Bank’s new monetary policy board www.theguardian.com/australia-ne...

Choosing the "progressive change" scenario - with lower economic growth, and significant decline in large industrial loads - as your preferred version of the future is really quite a choice from the coalition...

(New from me): www.theguardian.com/australia-ne...

(New from me:) Yet more signs of a surprisingly strong labour market: www.theguardian.com/business/202...

The coming heatwave for eastern Australia will cover about half the nation. This is the Saturday-Monday chart. (Via BoM)

Humpback whale makes record journey of more than 13,000km from South America to Africa

RBA’s Andrew Hauser giving a bit of a history lesson…

(Should post this on X): www.theguardian.com/media/2024/d...

From this week, the Bureau of Meteorology stopped publishing their "climate drivers" page, although values for the Nino 3.4 region used for monitoring are still available. Chances of a standard La Nina continue to fade...

Most of eastern Australia will bake in a heatwave from the weekend. (Via BoM)

(New from me): how ‘wild’ in 2024 may look mild before too long… www.theguardian.com/australia-ne...

February rate cut looks a bit more likely…

(New from me): No Christmas gift for Australian borrowers as RBA leaves interest rates on hold - but hopes for a cut improve www.theguardian.com/australia-ne...

As we await the RBA's rates verdict (likely keeping the cash rate at 4.35% for a 9th meeting in a row), it's interesting inflation expectations have lately receded a lot. ANZ/Roy Morgan's weekly survey has noted a 0.5ppt drop in the past fortnight, with the gauge near its lowest since Aug 2021.

Why Murdoch’s succession case could be major blow to his rightwing legacy www.theguardian.com/media/2024/d...

Annoying words used by the Canberra press gallery and almost nobody else, ever: "swingeing"...

Have been doubtful about 'economy has no pulse' or 'economy being strangled by government' takes for a while. Business confidence back to its highest level in almost two years, NAB's latest survey finds. Sure, it's not 'boom' times, but neither are they 'bust'.

Murdoch’s succession plan hits a snag: www.theguardian.com/media/2024/d...

Anywhere near Reno and a certain courthouse...?

This @arielbogle.bsky.social @readfearn.bsky.social piece is so good, for many reasons but importantly is shows the spectrum of community opposition to renewables: from bad-faith political / fossil fuel networks to genuine sentiment from communities left out of the process. Read --->>>

Ahead of today's RBA rates decision, here's how the major banks think the central bank is going to cut the cash rate next year. (NAB's view implies cuts at five of the last six meetings of 2025.) (Via RateCity)

Wow. That is some opening paragraph. James E. Hansen at ICJ hearing today (on Obligations of States in Respect of Climate Change). 1/ www.columbia.edu/~jeh1/mailin...

Jaw dropping season finale cliff hanger

Meanwhile… www.theguardian.com/environment/...

The falling solar and battery prices that make decarbonisation possible are remarkable and owe much to Chinese investment and innovation. (Via GenCost/CSIRO)

And here's the CSIRO draft GenCost report (which is an annual one...): www.csiro.au/en/research/...

The Australian, meanwhile, says "The CSIRO has stepped up its attack" on Dutton's nuclear power plans. (No sighting of GenCost report in the Daily Telegraph...)

And here's the AFR's GenCost report, framing the CSIRO as 'The federal government's science agency' in its top line...

Seven turns out to be the limit of gas-funded coverage in the Murdoch tabloids. Bet they would never run a comment piece like this one:

Csiro still finds nuclear energy far more expensive than renewables...and too slow for Australia's needs. www.theguardian.com/australia-ne...

(New from me): www.theguardian.com/australia-ne...

background

Light rail services in eastern Sydney likely to be snarled for a while by a fire in a shop in Surry Hills….

Now up to 7 days in a row of gas-sponsored coverage in the Murdoch tabloids....