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Run Away ! Panicked Russians flee mobilisation | Barbra Streisand backs Ukraine | Rates: RBA to follow Fed | Integrity Deal | Aussie $ hits 2 year low | $A, Copper & Dow Down; Bit-coin, Iron & Gold Up

Source : PortMac.News | Independent :

Source : PortMac.News | Independent | News Story:

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23-09-22 | Russians run away | Barbra backs Ukraine | Trump
Run Away ! Panicked Russians flee mobilisation | Barbra Streisand backs Ukraine | Rates: RBA to follow Fed | Integrity Deal | Aussie $ hits 2 year low | $A, Copper & Dow Down; Bit-coin, Iron & Gold Up

News Story Summary:

Latest updates on Key Economic Indicators:

Aussie $: $0.6640 USD (down $0.0050 USD)

Iron (SGX): $98.35 (up $2.70 USD)

Oil (WTI): $83.55 USD (down $0.64 USD)

Gold: $1,671.32 USD (up $6.42 USD)

Copper (CME): $3.4630 (down $0.0350 USD)

Bit-coin: $19,283.25 (up 2.34%)

Dow Jones: 30,076.68 (down 107.10 pts)

All changes compared to 7am Wednesday, except Dow and Bitcoin

Run Away ! Long queues form at Russia's borders:

Russian men have rushed to leave the country after President Vladimir Putin ordered a partial mobilisation, with traffic at border crossings with Finland and Georgia surging and prices for plane tickets from Moscow skyrocketing.

Putin on Wednesday ordered Russia's first mobilisation since World War II and backed a plan to annex swathes of Ukraine, warning the West he was not bluffing when he said he would be ready to use nuclear weapons to defend Russian territory.

Prices for flights out of Moscow soared above $US5,000 ($7,000) for one-way tickets to the nearest foreign locations, with most air tickets sold out completely for coming days.

Social media groups popped up with advice on how to get out of Russia, while one news site in Russian gave a list of "Where to run away right now from Russia".

Ukraine wants Russia stripped of United Nations veto:

Ukraine urged the United Nations to create a special tribunal and strip Moscow of its UN Security Council veto power as a diplomatic showdown loomed on Thursday in New York.

“A crime has been committed against Ukraine, and we demand just punishment,” President Volodymyr Zelensky, dressed in his trademark green military T-shirt, told world leaders by video at the annual UN General Assembly on Wednesday.

The Security Council has been unable to take significant action on Ukraine because Russia is a permanent veto-wielding member, along with the United States, France, Britain and China.

Russian Foreign Minister Sergei Lavrov faced Ukrainian and Western counterparts when UN Secretary-General Antonio Guterres and International Criminal Court prosecutor Karim Khan briefed the 15-member council later on Thursday.

Lavrov walks out of UN meeting:

Russia's foreign minister was absent from the chamber as his country faced wide rebuke from the United States and others for its war in Ukraine at a UN Security Council meeting, with US Secretary of State Antony Blinken warning fellow diplomats "the very international order we've gathered here to uphold is being shredded before our eyes."

"We cannot -- we will not -- allow President Putin to get away with it," Blinken said in remarks at the meeting Thursday, held during the UN General Assembly's high level week.

The meeting came amid a week of escalatory actions by Moscow, including a mobilization order for hundreds of thousands of troops and planned "Sham referenda" in Russian-occupied parts of Ukraine.

"Tha Putin picked this week, as most of the world gathers at the United Nations, to add fuel to the fire he started shows his utter contempt and disdain for the UN Charter, the UN General Assembly, and this Council," Blinken said.

Barbra Streisand becomes UNITED24 ambassador:

Oscar, Emmy, Grammy, Tony, Golden Globe and Peabody award winning artists & performer Barbra Streisand will became the ambassador for the UNITED24! fundraising platform.

Ms Streisand will focus her efforts on the direction of “Medical assistance”.

Streisand discussed the details of cooperation during an online call with the President of Ukraine, Volodymyr Zelensky.

Streisand’s grandparents emigrated to the United States from Ukraine. She admits that she feels a strong connection with Ukrainians:

"Since I am of Jewish origin with Ukrainian roots, I am especially moved by the struggle of Ukrainians for freedom. The resilience and courage of the Ukrainian people have become a real inspiration for everyone who works to preserve democracy and fight against authoritarianism. You and your country have my full support" Streisand said.

The first project that Barbra Streisand will support as an ambassador is 24,000 Friends of Ukraine. Its goal is to attract 24,000 subscribers for a monthly contribution of $24, which goes to medical care.

'This is how a bully behaves': Ukraine requests Australian assistance

The Age - Page Online : 23 September 2022 - Original article by Matthew Knott, Farrah Tomazin - Portmac.News Summary

Opposition foreign affairs spokesman Simon Birmingham has called on the federal government to "swiftly, positively and generously" respond to Ukraine's request for military aid.

With Putin threatening nuclear war and ordering a partial military mobilisation, Ukrainian ambassador to Australia Vasyl Myroshnychenko says Putin's actions are "How a bully behaves".

Myroshnychenko has already asked the federal government for additional Bushmasters, 30 Hawkei four-wheel drives and howitzer long-range weapons, and would now also like a supply of anti-ship missiles known as Harpoons.

Foreign Minister Penny Wong says the federal government is actively considering Ukraine's request for more military weapons and ammunition.

Russia must pay the price for war

The Australian - Page Online : 23 September 2022 - Original article by Adam Creighton - Portmac.News Summary

Ukrainian president Volodymyr Zelensky has ruled out any peace deal with Russia until all its forces have been repelled from all parts of Ukraine's territory.

In a pre-recorded address to the United Nations that came hours after Vladimir Putin threatened to use nuclear weapons against the west and a week after Zelensky's forces secured a major victory against Russian armies in eastern Ukraine, Zelensky said Russia should be forced to pay Ukraine repatriation for the cost of the war.

He also said that Russia should be stripped of its veto power in the UN Security Council as punishment for its invasion of Ukraine.

Treasurer warns worst yet to come

The Australian - Page 1 & 2 : 23 September 2022 - Original article by Geoff Chambers - Portmac.News Summary

Federal Treasurer Jim Chalmers has warned that surging inflation and worsening "international headwinds" are leading to savage interest rate rises and increased economic uncertainty.

His comments came after the US Federal Reserve lifted interest rates by 75 basis points for the third month in a row, with further increases expected.

The Fed's decision saw the Australian dollar fall to a two-year low, while economists expect the Reserve Bank to lift rates by 50 basis points when it meets on 4 October.

Chalmers noted the US and UK economies are in reverse, while China's is slowing, and the energy crisis is showing no signs of easing, hence why the International Monetary Fund has not ruled out another global recession.

Libs, Labor could cut integrity deal

The Australian Financial Review - Page Online : 23 September 2022 - Original article by Phillip Coorey - Portmac.News Summary

Federal parliament will resume in the week beginning 26 September after the hiatus that resulted from the Queen's death, with the government's priority being tabling legislation for its proposed national integrity commission.

It wants the legislation to pass through both houses of parliament before Christmas, and while it has the numbers to pass it in the House of Representatives, support for the legislation in the Senate from the Greens and the cross-bench is less assured.

ACT Independent Senator David Pocock and lower house independent Helen Haines both want the commission to be able to investigate third parties, but neither Labor or the Coalition support this idea.

It is believed there is strong support within the Coalition for it to negotiate with Labor over the legislation, rather than let the Greens and independents shape it.

Donald Trump & family sued for fraud

The New Daily - Page Online : 22 September 2022 - Portmac.News Summary

New York State Attorney General Letitia James is suing former US President Donald Trump and his adult children for fraud.

It follows an investigation of more than three years by her into Trump's business practices, with the focus of her investigation being on whether the Trump Organisation misstated the values of its real estate properties to obtain favourable loans and tax benefits.

She has claimed her investigation uncovered "Significant evidence" that Trump and the Organisation fraudulently valued many of its assets.

Trump has denied any wrongdoing, and claims the investigation is a "Politically motivated witch hunt", with James being a Democrat and Trump a Republican.

Millions at risk in Optus breach

The Australian - Page 1 : 23 September 2022 - Original article by Ben Packham, David Swan - Portmac.News Summary

Optus chief executive Kelly Bayer Rosmarin has apologised to its 10 million customers, after the telco was the target of a major cyber breach.

The breach has resulted in 2.8 million Optus customers having their dates of birth, passport, driver's licence and phone numbers, email and home addresses stolen, while a further seven million had their dates of birth, email addresses and phone numbers stolen.

The Australian Signals Directorate is working with Optus to discover who carried out what was one of Australia's largest-ever data breaches; it is not yet clear if it was by a criminal or state-based hacking group.

Power grid test could be scrapped as build-out falls behind

The Australian Financial Review - Page 11 : 23 September 2022 - Original article by Angela Macdonald-Smith - Portmac.News Summary

The Australian Energy Market Commission has indicated it is considering scrapping what is known as the regulatory investment test for transmission (RIT-T) for new electricity transmission projects.

Aimed at preventing consumers being saddled with excessive network costs, the RIT-T can take several years, and getting rid of it is one of three options that the AEMC is considering amid fears that essential projects for new grid connections during the transition to clean energy will run late.

Energy Networks Australia CEO Andrew Dillon notes that new transmission and interconnectors between states are critically needed as "We transition to net zero".

More offshore projects urged to lure suppliers, avoid delays

The Australian Financial Review - Page 17 : 23 September 2022 - Original article by Colin Packham - Portmac.News Summary

Charles Rattray says multiple offshore wind projects are needed if suppliers are to be attracted to Australia and delays avoided, with Rattray being the CEO of the Star of the South.

The Star of the South is aiming to develop Australia's first offshore wind farm off the coast of Gippsland in Victoria, and is hoping to begin generating electricity by 2028.

It hopes to commence procurement of cables and turbines in 2023, but Rattray says this can only start once all federal and state rules and regulations have been finalised.

The federal government is targeting to have over 80% of electricity generated by net-emission sources by 2030, while Victoria is aiming to have 20% of its electricity generated by offshore wind farms by the end of the decade.

Crikey to test new public interest defence in Murdoch defamation fight

The Sydney Morning Herald - Page Online : 23 September 2022 - Original article by Michaela Whitbourn, David Estcourt - Portmac.News Summary

Fox Corporation CEO and News Corporation co-chairman Lachlan Murdoch launched defamation proceedings against online news web site Crikey in August over an article that appeared on its site in June.

The article named the Murdoch family as "Unindicted co-conspirators" of former US president Donald Trump after the attack on the US Capitol in January 2021.

Crikey has announced it will use a new public interest defence in its defamation battle against Murdoch, while it will argue against the contention that the article inflicted serious harm against his reputation.

 

Landlords selling before new tax hits Queensland

The Australian Financial Review - Page 23 : 23 September 2022 - Original article by Nila Sweeney - Portmac.News Summary

A Property Investment Professionals of Australia survey has revealed that nearly one in five landlords are planning to sell at least one of their properties in the coming 12 months.

More than one in three landlords cited Queensland's new land tax as the main reason, with the tax to allow the government to use the entire value of an investor's portfolio when calculating their land tax, including those held interstate.

Should the survey's forecast come to fruition, it would reduce rental supply by around 200,000 dwellings at a time when vacancy rates are already below 1%.

Wealthy property owners hit hardest by rate rises

The Australian Financial Review - Page Online : 23 September 2022 - Original article by Aaron Patrick - Portmac.News Summary

Property research firm CoreLogic has reported house and apartment prices in the most expensive quartile of Sydney suburbs have fallen 10.3% from their April peak, while the fall in the bottom quartile is just 3%.

In Melbourne, dwelling prices in the most expensive quartile are down 7.3% from their peak, while the fall in the cheapest quartile was 1.8%.

Australia-wide, dwelling prices in the most expensive quartile of suburbs are down 6.2% from their peak, while they are just down 0.2% in the bottom quartile.

The data backs research by the Reserve Bank that dwelling house prices in wealthy suburbs are more vulnerable to rising interest rates than poorer ones, while wealthy suburbs also rise faster when rates are falling.


'News Story' Summary By : Staff-Editor-02

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