Updates on Key Economic Indicators:

A$: $0.6564 USD (up 0.0039)

Iron (SGX): $117.45 USD (down $0.40)

Oil (WTI): $82.72 USD (down $1.13)

Gold: $2,335.63 USD (down $2.30)

Copper (CME): $4.6795 USD (up $0.0920)

Bit-coin: $62,990.59 USD (down 1.02%)

Dow Jones: 38,386.09 (up 146.43 pts)

All changes compared to 7am yesterday

Israel reportedly offers a 40-day ceasefire Deal in exchange for hostages:

World leaders are urging Hamas to accept Israel's latest offer of a truce, which reportedly includes a 40-day ceasefire. 

British Foreign Secretary David Cameron said in addition to a pause in fighting, the "very generous" offer would potentially see thousands of Palestinian prisoners exchanged for the release of Israeli hostages.

"I hope Hamas do take this deal and frankly, all the pressure in the world and all the eyes in the world should be on them today saying, 'Take that deal'," Mr Cameron said in a World Economic Forum special meeting held in Riyadh.

Those sentiments were echoed by US Secretary of State Antony Blinken.

"Hamas has before it a proposal that is extraordinarily, extraordinarily generous on the part of Israel," Mr Blinken said.

"The only thing standing between the people of Gaza and a ceasefire is Hamas. They have to decide and they have to decide quickly," he said. 

"I'm hopeful that they will make the right decision."

Budget airline Bonza cancels flights across the country as it considers 'viability' of business

Embattled regional airline Bonza has cancelled flights across the country today, stranding potentially thousands of passengers, as it considers its future.

Early Bonza flights in and out of its base on Queensland's Sunshine Coast, along with Melbourne legs to Rockhampton, Gladstone and Tamworth were all cancelled this morning.

Bonza CEO Tim Jordan released a statement just after 8am saying all services would be "temporarily suspended".

He said discussions were being had about the ongoing viability of the business.

Mr Jordan apologised to customers, saying Bonza was trying to find a way to keep flying.

(More on this story to come)

ALP stills election winning : ALP 52% cf. L-NP 48% 2PP

Market Research Update - Page Online : 30 April 2024 - Original article by Roy Morgan - Portmac.News Summary

The Albanese Labor Government has retained the lead for the second week in a row with support on 52% (unchanged) ahead of the Coalition on 48% (unchanged) on a two-party preferred basis.

If a Federal Election were held now the ALP would be re-elected with a slim majority as they have now, the latest Roy Morgan survey shows.

Primary support for both major parties increased this week, at the expense of the Greens, with the ALP up 1% to 31.5% but still behind the Coalition, up 1% to 36.5%; support for the Greens dropped 2% to 14%.

Looking at the minor parties, support for One Nation was unchanged at 5.5%. Support for Independents was up 0.5% to 8% and support for Other Parties was down 0.5% to 4.5%.

Spending cuts must 'take heat off' rates

The Australian Financial Review - Page 4 : 30 April 2024 - Original article by John Kehoe - Portmac.News Summary

Economists are calling on the federal government to cut net discretionary spending in its 14 May budget, contending that such spending is making it harder for the Reserve Bank to combat inflation.

Shadow treasurer Angus Taylor and Coalition finance spokeswoman Jane Hume said on Monday that the government should "Restore budget discipline" by reintroducing the Coalition's 23.9% tax-to-GDP cap.

Treasurer Jim Chalmers responded by claiming that the Coalition is advocating cuts to spending.

National Legal Aid calls for $300m funding increase to keep Australian women safe

The Guardian Australia - Page Online : 30 April 2024 - Original article by Nino Bucci - Portmac.News Summary

National Legal Aid contends that over $300 million in extra government funding a year is needed to meet demand for legal aid services related to family violence.

Figures reveal that 27 women have been killed so far this year as a result of violent attacks.

Melanie Alexander from Legal Aid NSW says that not only were more women seeking help but that they often have a wider range of concerns, such as help with housing and debt.

She says the work she does in this area is often very confronting, with many women facing harrowing circumstances.

'Intifada' protest gave kids 'agency'

The Australian - Page 2 : 30 April 2024 - Original article by Noah Yim - Portmac.News Summary

Independent MP Allegra Spender says the federal government and universities must ensure that campuses are "Safe and inclusive for all students".

She adds that pro-Palestine encampments at the nation's universities are escalating the sense of fear among Jewish students.

Her comments were made in the wake of reports that supporters of Palestine took young children to an encampment at the University of Sydney and encouraged them to express anti-Semitic sentiments; this included getting them to call for an intifada and describe Israel a "Terrorist state".

Muslim academic Randa Abdel-Fattah has defended the intifada chants, contending that they were intended to give the young children a "Sense of agency".

Mehreen Faruqi v Pauline Hanson : Greens senator tells court attacks on white people not racist

The Guardian Australia - Page Online : 30 April 2024 - Original article by Karen Middleton - Portmac.News Summary

Greens senator Mehreen Faruqi is suing One Nation senator Pauline Hanson over a social media post in which Hanson told Faruqi to "Pack your bags and piss off back to Pakistan", with Faruqi describing the post as "The ultimate racist slur".

Appearing as the first witness in the case on Monday, Faruqi was accused by Hanson's lawyer, Sue Chrysanthou SC, of being a hypocrite, with Chrysanthou claiming Faruqi had made and endorsed racist remarks about white people.

Faruqi denied that verbal attacks on white people are racist, claiming that racism is also about power and the use of that power to perpetrate racism and oppress people; she claimed that power in Australia is held by white people.

Taxpayers in quantum leap of faith

The Australian - Page 1 & 4 : 30 April 2024 - Original article by Joe Kelly, Geoff Chambers - Portmac.News Summary

The federal government has revealed the latest funding deal via its Future Made in Australia policy.

The government and its Queensland counterpart will provide US-based start-up PsiQuantum with a combined $940m in in equity and loans to help it develop a fault-tolerant quantum computer in Brisbane.

PsiQuantum has agreed to base its Asia-Pacific headquarters in Brisbane in return for the funding deal; it will also create up to 400 highly-skilled jobs.

Queensland Premier Stephen Miles says the Miles says the PsiQuantum investment will generate "Billions in economic opportunity" for the state.

Farmers 'at the mercy' of supermarket pricing tactics

The Australian - Page 6 : 30 April 2024 - Original article by Charlie Peel - Portmac.News Summary

Queensland dairy farmers appeared before a parliamentary inquiry into supermarket prices on Monday.

They warned that the predatory pricing tactics of the major grocery retailers are prompting a growing number of farmers to quit the sector.

The farmers also noted that the number of dairy farms in the state has fallen by 60% since Coles and Woolworths launched a $1-per-litre milk price war in 2011.

The farmers expressed support for a mandatory food and grocery code of conduct; the existing code is voluntary.

'Riot act' : Australians warned about delaying tax returns amid ATO expense crackdown

The New Daily - Page Online : 30 April 2024 - Original article by Matthew Elmas - Portmac.News Summary

Australians who do not submit their tax returns on time this year can be fined up to $1,500, with Perigee Advisers principal Lisa Greig saying she is "Reading the riot act to my clients" in terms of getting their returns in on time.

With the Australian Taxation Office targeting a $8.7 billion shortfall, all taxpayers can expect to have their expense claims closely scrutinised.

Tax agents have stated that people working in the gig economy or investing in cryptocurrencies must take particular care when completing their tax returns

Facebook's deep-fake ASX video scam

The Australian - Page 15 : 30 April 2024 - Original article by Paulina Duran - Portmac.News Summary

A representative for the ASX has confirmed that a video advertisement featuring former CEO Dominic Stevens that has been appearing on Facebook is a fake, and that it has reported the matter to Facebook.

The deep-fake video sees Stevens promoting a 'Australian Securities Exchange-ASX' group purporting to give investment advice, with the ad claiming that 14,781 members have joined the group.

The ASX deep-fake video is the latest in a series of such videos of prominent business people, celebrities and politicians being used to initiate contact with potential scam victims, with figures released this week revealing that Australians lost $2.7 billion to scams in 2023.

Tax breaks see Electric & hybrid vehicles racing ahead in outer suburbs

The New Daily - Page Online : 30 April 2024 - Original article by Jennifer Dudley-Nicholson - Portmac.News Summary

Analysis by the National Automotive Leasing & Salary Packaging Association has estimated that 40% of new electric and plug-in hybrid vehicles are being bought with fringe benefits tax breaks.

The Association found that outer suburbs tend to be the place where the purchase of new electric and plug-in hybrid cars using novated leases is most popular, including Sydney suburbs such as Kellyville and Beaumont Hills, Melbourne suburbs such as Point Cook and Werribee, and Brisbane suburbs such as Camp Hill and Carindale.

Optus parent writes off billions

The Australian Financial Review - Page 13 & 18 : 30 April 2024 - Original article by Jenny Wiggins - Portmac.News Summary

Singapore Telecommunications has announced a $S3.1 billion ($3.5 billion) writedown, most of which relates to its Australian subsidiary Optus.

However, its potential impact has been offset by Optus's agreement with TPG Telecom to share regional telecommunications networks.

The agreement will see TPG pay Optus service fees of $1.59 billion over 11 years.

Optus will use that money to accelerate its investment in 5G networks and complete them two years faster than foreshadowed.

TPG's deal with Optus comes after competition regulators rejected a $1.8 billion deal proposed by TPG and Telstra in 2023 to share networks and spectrum.

Companies use AI to defeat hackers

The Australian - Page 18 : 30 April 2024 - Original article by Jared Lynch - Portmac.News Summary

It has been revealed that AustralianSuper, Powerlink and TAL Insurance have been using Microsoft's artificial intelligence Copilot for Security platform to help boost their defences against cyber attacks.

AustralianSuper chief technology officer Mike Backeberg contends that for four members of its cyber defence team, AI essentially adds a fifth member.

Meanwhile Powerlink general manager of business IT and technology delivery Mark Pozden notes that recruiting talented cybersecurity workers is a big challenge.

Seven news chief quits scandal-hit network

The Australian - Page 7 : 30 April 2024 - Original article by Sophie Elsworth - Portmac.News Summary

The Seven Network's director of news and current affairs Craig McPherson is the latest Seven West Media executive to depart in the wake of a series of scandals at the group.

Seven has advised that McPherson has stepped down and will be succeeded by The West Australian's editor-in-chief Anthony De Ceglie.

Seven has been under scrutiny in recent weeks after naming an innocent man as the Westfield Bondi Junction killer, as well as a controversy over its Spotlight program.

After a long illness, print audits finally die

unmademedia.com - Page Online : 30 April 2024 - Portmac.News Summary

The Audited Media Association of Australia has announced that it will no longer audit any of Australia's media, with the demise of print audits having been anticipated for some years.

It comes at a time when there seems to be an ongoing trend towards less transparency and accountability in media, with media transparency changing with the emergence of Facebook.

Marketers seem happy to use Facebook despite its insistence on "Marking its own homework" and continuing to do so despite the emergence of stories regarding dubious metrics

Cosmopolitan magazine to return to Australian market

Mumbrella - Page Online : 30 April 2024 - Original article by Nathan Jolly - Portmac.News Summary

It has been announced that Cosmopolitan has become the latest glossy to return to the Australian magazine market.

Cosmopolitan will be published by Katarina Kroslakova's publishing house KK Press in collaboration with Hearst Magazines International.

The revived Cosmopolitan will be published six times a year, with the first issue to come out in August.

Commenting on the return of Cosmopolitan, Kroslakova says it "Remains as essential and vibrant today as it was under Helen Gurley Brown's pioneering vision in 1965".

Australia urged to impose big tech tax to fund trusted media and fight disinformation

The Guardian Australia - Page Online : 30 April 2024 - Original article by Daniel Hurst - Portmac.News Summary

A paper from the The Asia-Pacific Development, Diplomacy & Defence Dialogue (AP4D) thinktank urges Australia to impose a digital platform tax on large tech firms in order fund trusted media at a time of increased misinformation and disinformation.

AP4D also contends there is a need for Australians to be educated on how to better detect misinformation and disinformation, with AP4D calling for digital media literacy to be taught from early childhood onwards.

BHP hunts big game in Africa

The Australian Financial Review - Page 13 & 17 : 30 April 2024 - Original article by Peter Ker - Portmac.News Summary

BHP's primary interest in making a takeover bid for Anglo American is the latter's copper assets, which include the Quellaveco, Los Bronces and Collahuasi projects.

The proposed $59.6bn deal would see BHP regain exposure to commodities that it has been seeking to exit for the last decade, such as diamonds and manganese.

BHP has also indicated that it has no desire to hold long-term ownership of Anglo American's platinum and iron ore assets in South Africa.

Nevetheless, BHP is expected to make a sweetened takeover offer for Anglo American.

Rivals such as Glencore could also potentially make a bid now that Anglo American is in play.

Market direction hinges on rates: Stockland

The Australian Financial Review - Page 31 : 30 April 2024 - Original article by Michael Bleby - Portmac.News Summary

Listed property developer Stockland has advised that net sales in its master-planned communities rose to 1,242 in the March quarter.

The group expects sales volumes to remain at around this level in the near-term. Stockland also notes that enquiries from prospective buyers rose to 4,325 during the period, compared with 2,581 in the December quarter.

Meanwhile, Stockland now expects to settle between 5,300 and 5,500 homes in 2023-24, compared with previous guidance of 5,200 to 5,600.

The company has also cautioned that a further improvement in residential sales is highly dependent on the outlook for interest rates.

ASX Real estate and technology lead

The Australian Financial Review - Page 28 : 30 April 2024 - Original article by Joshua Peach - Portmac.News Summary

The Australian sharemarket posted a solid gain on Monday, with the S&P/ASX 200 adding 0.8% to close at 7,611.4 points.

Boss Energy rose 9.1% to $4.78, TPG Telecom advanced 5.3% to $4.36 and Perpetual ended the session 3.1% higher at $24.02.

However, Megaport was down 1.3% at $14.10.