Woolies to go 100pc green, Twiggy Forrest unveils global renewables energy push

Two corporate giants have sidestepped the hot political debate over green energy by setting their own ambitious agendas for renewable energy targets. 

Supermarket giant Woolworths plans to power all its operations with renewable energy by 2025 while Andrew Forrest's Fortescue Metals has revealed a plan to provide low cost green energy not just in Australia but right around the world. 

RE100 Australia coordinator Jon Dee tells ABC's Peter Ryan that global demand for green energy ignores the local toxic political debate.

Here's my report from this morning's AM program

CBA halves home loan deferrals; Westpac says consumers look forward to "normal" Christmas

Cautious optimism in Australia's economic recovery is growing with Westpac's latest confidence survey saying upbeat consumers are looking forward to a "normal" Christmas. 

Commonwealth Bank says home loans on deferrals fell 51 percent in October to 46,000 down from 125,000 in June. 

ABC's Peter Ryan says the upbeat mood is also reflected on the sharemarket with hopes of a successful vaccine from Pfizer creating winners but also losers.

Vaccine hopes stoke shares - Qantas, major banks surge

Global stocks have rocketed on news that Pfizer's COVID19 vaccine could be 90 percent effective. 

The euphoria saw the Dow Jones Industrial Average surge more than 5 percent at one point with big gains for travel stocks, oil producers and banks. 

But ABC's Peter Ryan says even in the best case scenario of the vaccine working, there'll be no economic snapback until the health crisis gets under control.

Global markets surge on Pfizer "90 percent effective" vaccine hopes

Global stocks have rocketed on news that Pfizer's COVID19 vaccine could be 90 percent effective. 

The euphoria saw the Dow Jones Industrial Average surge more than 5 percent at one point with big gains for travel stocks, oil producers and banks. 

But ABC's Peter Ryan says even in the best case scenario of the vaccine working, there'll be no economic snapback until the health crisis gets under control.

I also speak with Thomas Oriti on ABC NewsRadio

US President-elect Joe Biden to take heat out of US China trade war

Joe Biden's victory over Donald Trump is being welcomed by global investors with Australia likely to benefit with some heat coming out of the US China trade war. 

But with Mr Trump yet to concede defeat while he grasps at legal challenges, there's a lot of uncertainty ahead as Mr Biden confronts surging coronavirus cases, a deep recession in the US and much of his ambitious agenda likely to be blocked in the republican-controlled Senate.

ABC's Peter Ryan speaks with AMP Capital chief economist Shane Oliver.