Summer Chorus: Japan wants nuclear power again
Japan reverses ban on nuclear power plants imposed after Fukushima disaster; US stocks slump 2.6% after stronger US growth data worsens rate hike fears; Queenstown rental crisis deepens
TLDR: This is a cut-down version of today’s Chorus, with the key news overnight being:
US stocks are down 2.6% this morning after higher-expected-GDP numbers and firmer than forecast job loss figures raised fears again the Fed will have to hike interest rates harder and higher than previous expected; Reuters
Japan deciding to reverse its Fukushima-disaster-era policy of removing its nuclear power plants, saying it would replace the currently-shut old reactors with new ones to control power price inflation; NPR
Tesla shares are down another 10% this morning after it doubled its discounts to sell more Model 3 and Model Y vehicles; WSJ
Queentown recruiters report one in five of the staff they put in jobs there quit their jobs in the first week of December because they could not find places to live; and, NZ Herald
The Inland Revenue Department is ramping up its checks on the expenses claims of self-employed taxpayers. Stuff.
Useful longer reads and listens
Keep reading with a 7-day free trial
Subscribe to The Kākā by Bernard Hickey to keep reading this post and get 7 days of free access to the full post archives.