1. Guest
  2. Login | Subscribe
 
     
Forgot Login?  

FREE Newsletter Subscription, Click The 'Subscribe' Button Below To Subscribe!

Weekday News Bulletin

PortMac.News FREE Weekday Email News Bulletin

Be better informed, subscribe to our FREE weekday news Update service here:

PortMac Menu

This Page Code

Page-QR-Code

Dow rallies, $A and gold rise; iron ore and oil retreat; Donald Trump says Joe Biden 'Won because the election was rigged' & fuels talk he'll launch a Fox News rival.

Source : PortMac.News | Independent :

Source : PortMac.News | Independent | News Story:

main-block-ear
 
News Summary 16-11-20 | Trump Wants Own Network | $A Gold Up
Dow rallies, $A and gold rise; iron ore and oil retreat; Donald Trump says Joe Biden 'Won because the election was rigged' & fuels talk he'll launch a Fox News rival.

News Story Summary:

Latest updates on Key Economic Indicators:

Australian Dollar: $0.7267 USD (up $0.0031 USD)

Iron Ore Dec Spot Price (SGX): $119.00 USD (down $0.81 USD)

Oil Price (WTI): $40.13 USD (down $0.79 USD)

Gold Price (13 Nov): $1,887.72 (up $10.90 USD)

Gold Price (16 Nov): $1,889.63 (up $1.91 USD)

Dow Jones: 29,479.81 (up 522.91 points)

All changes compared to 7am Friday, except gold.


Trump fuels talk he'll launch a Fox News rival

The Sydney Morning Herald - Page Online : 13 November 2020 - Original article by Christopher Palmeri - PortMac.News Summary

Fox Corp held its AGM on 12 November, with the election of all director nominees approved and its executive compensation package endorsed.

Shares in the Rupert Murdoch-controlled company fell during trading on the day of its AGM, amid speculation that US President Donald Trump might launch or support a rival to Fox News when he departs the Oval Office.

With Trump angry that Fox News declared Arizona for Joe Biden at an early stage of counting in the presidential election, he has accused Fox of forgetting its 'Golden Goose' during its 2020 election coverage.


South Australia records four new local Covid cases linked to hotel quarantine worker

The Guardian Australia - Page Online : 16 November 2020 - PortMac.News Summary

South Australia's chief public health officer Nicola Spurrier says the emergence of new locally-acquired COVID-19 cases in the state is a 'wake-up call'.

Three members of a family have been infected with the coronavirus after one of them contracted it while working at a quarantine hotel.

Health authorities have advised that a fourth person linked to the family has tested positive, while about 90 people who were at an Adelaide hospital at the same time as one of the family members have been ordered to quarantine.

Spurrier says returned travellers in hotel quarantine clearly now present the greatest risk of coronavirus infection in Australia.

There are 19 active COVID-19 cases in SA; in contrast, Victoria has just three active cases, and the state has recorded no new cases for 16 consecutive days. [Click to view full article here]


Taxpayers, CSL to build vaccine plant

The Australian Financial Review - Page 1 & 4 : 16 November 2020 - Original article by Phillip Coorey, Simon Evans - PortMac.News Summary

CSL unit Seqirus will build a $800 million vaccine plant at Melbourne's Tullamarine Airport.

The federal government will underwrite the project and buy influenza vaccines produced at the plant for 10 years.

It will also buy antivenins for snake and spider bites, while the plant will also have the ability to be converted for the production of future pandemic vaccines.

Seqirus currently produces vaccines and antivenins at an ageing plant in Parkville, and the new facility will ensure that production remains in Australia.


Not even your hearing is safe: COVID-19 worsens tinnitus and may be a trigger

The New Daily - Page Online : 16 November 2020 - Original article by John Elder - PortMac.News Summary

Around one in three Australians suffer from tinnitus at some point in life, while around one in six have ongoing tinnitus symptoms.

A new study of over 3,000 people in 48 countries has found that 40 per cent of people displaying symptoms of COVID-19 experienced a worsening of their tinnitus symptoms at the same time, while some people felt their tinnitus condition had been triggered by COVID-19. The survey also found that a large number felt that their tinnitus had been made worse by social distancing measures aimed at trying to curb the spread of COVID-19. 


Damage to multiple organs recorded in 'long Covid' cases

The Guardian - Page Online : 16 November 2020 - Original article by Linda Geddes - PortMac.News Summary

The UK will conduct a study to assess the long-term impact of COVID-19 on organ health in around 500 'low-risk' individuals with ongoing symptoms of the virus.

Data from a preliminary assessment of the first 200 patients that have been screened for the study indicate that almost 70 per cent have impairments in one or more organs four months after their initial illness.

Amitava Banerjee from University College London notes that none of the patients were scanned before developing COVID-19, so they may already have had impaired organs.


Boost to military ties with Japanese

The Australian - Page 2 : 16 November 2020 - Original article by Simon Benson, Olivia Caisley - PortMac.News Summary

A new defence pact between Australia and Japan will be progressed during Prime Minister Scott Morrison's visit to Tokyo on 17 and 18 November.

The pact will cover issues such as use of the other country's military bases and the sharing of resources such as fuel. Morrison will become the first foreign leader to meet new Japanese Prime Minister Yoshihide Suga on Japanese soil since Suga took over from Shinzo Abe.


Grattan report attacks gas-led recovery plans

The Australian Financial Review - Page 23 : 16 November 2020 - Original article by Angela Macdonald-Smith, Elouise Fowler - PortMac.News Summary

A report by the Grattan Institute claims that the federal government's gas-led economic recovery plan will require huge subsidies.

The think tank also contends that it is 'inevitable' that the use of gas on Australia's east coast will decline, due to high prices and the need to curb carbon emissions.

The report's findings were made known to the federal government prior to its release, and the government has rejected the report's conclusions.

The federal government has claimed the fact that around 225,000 people are employed by gas-reliant manufacturers as justification for its economic recovery plan, but the Grattan Institute contends that the figure is little more than 10,000.


Report: Team approach to R&D needed

The Australian Financial Review - Page 4 : 16 November 2020 - Original article by Tom McIlroy - PortMac.News Summary

The CSIRO and Austrade have called for a refreshed and targeted R&D foreign direct investment program as one way of helping Australia to recover from the COVID-19 pandemic.

The report into global trade and investment trends also calls for Australia's critical minerals exports to be boosted, along with the expansion of agricultural, food and agri-tech exports and the formation of a "export-earning disaster-resilience" technology industry.

The report contends that foreign direct investment in R&D is especially desirable for Australia because of "spillover benefits".


The harm JobMaker will do to women and older workers far outweighs any benefits

The New Daily - Page Online : 16 November 2020 - Original article by Emma Dawson - PortMac.News Summary

Aimed at getting people under the age of 35 back into work, the federal government's JobMaker hiring-subsidy scheme has been passed into law.

The scheme's sole focus is on the number of jobs created, rather on their quality, and older workers are likely to be disadvantaged by the scheme, especially women.

The JobMaker scheme may well create more jobs, but it is likely that the jobs will be casual or part-time, and will do little to address the insecurity and under-utilisation that has characterised employment for young Australians for over a decade.


Legal challenge to compulsory vaccine

The Australian Financial Review - Page 5 : 16 November 2020 - Original article by David Marin-Guzman - PortMac.News Summary

The issue of an employers' right to require staff to be vaccinated against infectious diseases has come under scrutiny due to the coronavirus pandemic.

Maria O'Sullivan of the Castan Centre for Human Rights Law says employers have a duty of care to staff and customers, so strict rules on vaccination may be appropriate.

However, a former employee of Goodstart Early Learning has launched an unfair dismissal claim after she was sacked for refusing to get a flu shot, which is now mandatory under the company's new infectious diseases policy.


Union seeks to halt pay rise for CBA employees

The Australian Financial Review - Page 6 : 16 November 2020 - Original article by David Marin-Guzman - PortMac.News Summary

The Finance Sector Union has launched legal action in a bid to prevent the Commonwealth Bank of Australia from providing staff on enterprise agreements with a three per cent pay rise.

The pay deal only covers about 40,000 employees, while staff on individual agreements have been offered a lower pay rise.

The FSU wants all CBA employees to receive the three per cent pay rise, and has raised the prospect of industrial action.

The Fair Work Commission is scheduled to hear mediation talks on 17 November.


BHP may put quashed pay bid to workers

The Weekend Australian - Page 29 : 14 November 2020 - Original article by Nick Evans - PortMac.News Summary

The Fair Work Commission has quashed enterprise agreements aimed at covering workers in Operations Services, its internal labour hire arm.

BHP CEO Ken Henry contends that the Operations Services model is a desirable alternative to the use of labour hire contracting in its mines, but unions claim the model undermines pay and conditions negotiated at the company's mine sites.

They want BHP to start from scratch and negotiate an completely new agreement. although there is speculation that BHP will put the quashed agreements directly to its Operations Services workforce after making a few changes to them.


NSW Government to raise payroll tax threshold

The Australian Financial Review - Page 4 : 16 November 2020 - Original article by Edmund Tadros - PortMac.News Summary

The New South Wales government will announce an increase to the payroll tax threshold from $1 million to $1.2 million when it brings down the state Budget on 17 November.

Treasurer Dominic Perrottet has flagged he might sell the state's lottery revenue, which could raise $5 billion, while the Treasury predicts that the state's unemployment rate will fall from a peak of 7.5 per cent in the December quarter to about 5.25 per cent in June 2024.

The Budget will include $5 million for a tendering program aimed at helping small businesses to secure a bigger share of the state's government annual expenditure on procurement.


One word, one great chance to show who we've become

The Weekend Australian - Page 22 : 14 November 2020 - Original article by Katrina Grace Kelly - PortMac.News Summary

The COVID-19 pandemic has made people more likely to see and feel for others, and this has been shown by New South Wales Premier Gladys Berejiklian's wish for a change to the national anthem.

Berejiklian says she supports changing the line 'we are young and free' to 'we are one and free', as she believes this would recognise 60,000 years of ­Indigenous history.

Berejiklian says she can sympathise with ­Indigenous people who do not believe the current anthem does this.

A number of players who took part in the opening game of the 2020 State of Origin rugby league series appeared not to be singing while the anthem was being played, and if changes are not made to the anthem, this 'silence' could become more widespread.


Recovery will be long, with surprises: UBS

The Australian Financial Review - Page 16 & 23 : 16 November 2020 - Original article by James Thomson - PortMac.News Summary

Futures pricing suggests that the Australian sharemarket will gain about 0.9 per cent when trading resumes on 16 November, following a positive lead from Wall Street.

Meanwhile, UBS Group's global chairman Axel Weber says financial markets should expect the economy to take several years to recover from the coronavirus pandemic.

He will also tell the UBS Australasia Conference that companies, investors, policy makers and regulators should start preparing for the next global crisis.

UBS Australia's joint CEO Anthony Sweetman expects the recent upturn in deal-making activity to be sustained into 2021.


Banks need to act now to cut 'stubborn' costs

The Australian Financial Review - Page 20 : 16 November 2020 - Original article by James Frost - PortMac.News Summary

The Boston Consulting Group contends that Australia's major banks will need to significantly reduce their costs over the next three years in order to maintain dividend payouts and capital buffers.

The firm's modelling suggests that banks will need to cut their costs by between five and 10 per cent, depending on how swiftly the domestic economy recovers from the coronavirus pandemic.

Tim Dring of Ernst & Young says reducing costs is a key challenge for the banks, especially as interest rates are set to remain at a historical low for some time.


The biggest test for Australia's most famous wine brand

The Australian Financial Review - Page 16 & 22 : 16 November 2020 - Original article by Simon Evans - PortMac.News Summary

Shares in Treasury Wine Estates rose above $19 in late 2019 on the back of a boom in luxury wine sales in China.

However, fears that the Australian wine sector will become one of the trade victims of the diplomatic row between China and Australia, along with the impact of COVID-19, saw Treasury Wine's shares fall to a five-year low of $7.96 on 5 November.

Treasury Wine is the owner of Penfolds, Australia's most famous wine brand, and the China trade row is seen as being perhaps the biggest test of Penfolds' resilience in a history that dates back to 1844.


Neobank garners $10m in capital raise

The Australian Financial Review - Page 21 : 16 November 2020 - Original article by Yolanda Redrup - PortMac.News Summary

Digital bank Alex has raised $10.3m from institutional and high-net-worth investors.

Alex was founded in 2018 and hopes to secure a restricted licence as an authorised deposit-taking institution in early 2020; the so-called 'challenger' bank applied for a restricted licence in August 2019, but the prudential regulator put applications on hold due to the pandemic.

Alex's co-founder Simon Beitz is confident that there is room for another purely digital bank in the local market. Alex has already written more than $1m worth of loans.


ASIC to outline buy-now concerns

The Australian - Page 16 : 16 November 2020 - Original article by Cliona O'Dowd, Patrick Commins - PortMac.News Summary

The Australian Securities & Investments Commission will shortly release its latest review of the 'buy now, pay later' sector, two years after its first review.

Liberal senator Andrew Bragg has cautioned against excessive regulation of the BNPL sector, warning that doing so could damage the reputation of local financial technology companies and deter international investment in the sector.

It is estimated that about six million Australians now use BNPL services, compared with two million in 2018.


Distressed debt funds ready for mid-market credit crunch

The Australian Financial Review - Page 20 : 16 November 2020 - Original article by Jemima Whyte - PortMac.News Summary

Tim Klineberg from KPMG says he expects the distressed debt market to pick up in 2021, as Arbitrium Capital Partners becomes one of the latest distressed debt funds to target the market.

It will lend to mid-market companies, which co-founder Mukhtader Mohammed categories as companies that had revenues of between $50 million and $750 million prior to COVID-19.

Mohammed and Arbitrium Capital Partners' co-founder Daniel Liptak estimate that around 50,000 mid-market firms will be seeking $10 billion in finance when government COVID-19 support measures end in March.


Patience a virtue as Caledonia channels the wisdom of Buffett

The Australian - Page 13 & 16 : 16 November 202 - Original article by Damon Kitney - PortMac.News Summary

Boutique fund manager Caledonia Investments was founded in 1992 to manage the inherited wealth of John Darling, an immigrant to Australia from Scotland in the 19th century who operated a wheat and flour milling business.

The $10 billion fund has followed the high-conviction investing philosophies of legendary investor Warren Buffett since its formation; its main Global Fund delivered a return of 38 per cent in 2019-20.

Its three main investments are Canadian online gaming firm Flutter Entertainment, online food delivery company Grubhub and US online real estate group Zillow


Green giants: the massive projects that could make Australia a clean energy superpower

The Guardian - Page Online : 14 November 2020 - Original article by Adam Morton - PortMac.News Summary

Economist Ross Garnaut has claimed Australia has the potential to be a "clean energy superpower", and the $53 billion Asian Renewable Energy Hub arguably heads the list of projects and developments aiming to target that potential.

To be located in Western Australia's Pilbara region, the Hub will have 1,600 giant wind turbines and a 78 sq km array of solar panels.

If constructed in full, its generating capacity will exceed all of Australia's coal-fired power stations.

Although investment in clean energy has slowed recently, there have been a number of recent developments in the area.

Andrew Forrest has indicated Fortescue Metals Group will expand into renewable energy with the aim of constructing 235 gigawatts across the globe, while the New South Wales government intends to underwrite 12GW of renewable energy and 2GW of storage over the next 10 years.


Digital code to be law this year

The Australian - Page 19 : 16 November 2020 - Original article by James Madden - PortMac.News Summary

Treasurer Josh Frydenberg has advised that the federal government's News Media and Digital Platforms Bargaining Code will come into effect before parliament rises for the year on 10 December.

The Australian Competition & Consumer Commission released the draft code of conduct in June, and the government had initially aimed to legislate the code shortly after.

In addition to a revenue-sharing arrangement, the code is expected to enable news publishers to request the removal of potentially libellous comments on news stories that appear on digital platforms.


Seven confident over Games sponsors

The Australian Financial Review - Page 22 : 16 November 2020 - Original article by Michael Bleby - PortMac.News Summary

The Seven Network has locked in 85 per cent of its sponsorship deals for its coverage of the Tokyo Olympic Games.

Seven lost about 20 per cent of its expected revenue from the Olympics when some sponsors withdrew after the event was postponed until 2021 due to the pandemic.

Seven's chief revenue officer Kurt Burnette says the network will utilise its experience in broadcasting AFL matches remotely in its Olympics coverage.

Seven recently advised that it has secured a new sponsor for its Olympics coverage.


SBS adds to drama and doco selection

The Australian - Page 19 : 16 November 2020 - Original article by Lilly Vitorovich - PortMac.News Summary

Public broadcaster SBS will announce details of its 2021 program line-up at a virtual event on 18 November.

It will broadcast three new local dramas in 2021, compared with two in 2020.

Director of TV and online content Marshall Heald says SBS will not venture into reality TV shows, noting that it aims to be a strong alternative to commercial free-to-air networks.

The federal government contributes about $285m to SBS's annual budget of more than $400m.


Trade pacts will help bypass China: Pitt

The Australian - Page 15 : 16 November 2020 - Original article by Nick Evans - PortMac.News Summary

Federal Resources Minister Keith Pitt will visit New South Wales coal mines and ports over the next week.

The state's coal sector has been hard hit by factors such as the impact of the coronavirus pandemic and China's informal ban on Australian coal.

However, Pitt says local producers will find alternative export markets for their coal if China continues to target Australian imports.

He adds that the newly-signed 15-nation Regional Comprehensive Economic Partnership trade pact could open new markets for the Australian mining sector.


Same | News Story' Author : Staff-Editor-02

Users | Click above to view Staff-Editor-02's 'Member Profile'

Share This Information :

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

Add A Comment :


Security code

Please enter security code from above or Click 'Refresh' for another code.

Refresh


All Comments are checked by Admin before publication

Guest Menu

All Content & Images Copyright Portmac.news & Xitranet© 2013-2024 | Site Code : 03601