ASX falls sharply in global sell-off
SYDNEY, AAP – The Australian share market has closed down sharply amid growing concerns the global economy will suffer a hard downturn and that the cost of capital will rise. The benchmark S&P/ASX200 index was saturated with red on Friday, falling 119.5 points, or 1.57 per cent, to close at 7473.3. Miners drove the exchange…
Cost of medicines a key election issue
CANBERRA, AAP – Health and community pharmacy peak bodies have formed a coalition urging parties to recognise medicine affordability as a key election issue. The Pharmacy Guild of Australia, the Australian Patients Association, Chronic Pain Australia and Musculoskeletal Australia, say 30 per cent of voters are struggling to afford medicines on the Pharmaceutical Benefit Scheme….
NT man charged over $1.47m cattle theft
DARWIN, AAP – A 71-year-old man faces theft and deception charges after allegedly taking cattle worth almost $1.5 million from a Northern Territory station. Detectives went to a station on the Sturt Plateau, south of Darwin, in June last year amid allegations that 435 head of cattle had been taken from a nearby property. They…
Australian bank Westpac penalised $113 million
The Federal Court has ordered Westpac to pay penalties in the amount of $113 million for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands. Justice Beach today handed down his decision in the last of six separate civil penalty proceedings filed by ASIC against Westpac in November 2021…
Australian aged care world ‘standard’: PM
CANBERRA, AAP – Prime Minister Scott Morrison says Australia’s aged care system is seen as a global standard, with the government working to introduce round the clock nurses in facilities by 2025. Mr Morrison is campaigning in Brisbane on Friday, where he said the government was planning to introduce the recommendation made by the royal…
Labor, coalition war of words over China
CANBERRA, AAP – WAR OF WORDS OVER CHINA Prime Minister Scott Morrison has sought to pivot from criticism he was too slow to act against a China-Solomons security pact by attacking Labor’s record on Beijing. Mr Morrison seized on reported comments from Deputy Labor Leader Richard Marles, accusing him of hypocrisy. But Labor has hit…
Trivago fined $44.7m over misleading rates
MELBOURNE, AAP – Travel booking company Trivago has been fined $44.7 million for misleading consumers about its hotel room rates. Trivago was found guilty in 2020 for telling consumers it would show them the cheapest rates, when it actually ranked hotels by factoring in which advertisers paid the highest per-click fee. The company admitted that…
Reef water quality program funded in Qld
BRISBANE, AAP – Innovative land and water quality monitoring tools will improve water quality in the Great Barrier Reef as part of a new $3.1 million program. The Reef Catchments Science Partnership will be a joint project with the University of Queensland and the Department of Environment and Science launched on Friday. The partnership will…
US gives $6.4b to carbon reduction schemes
WASHINGTON, D. C., RAW – The US Transport Department will award $US6.4 billion ($A8.6 billion) over five years to fund projects to reduce greenhouse gas emissions. The funding, part of a $US1 trillion ($A1.3 trillion) infrastructure bill approved by Congress in November, will help states fund facilities for pedestrians and cyclists as well as projects…
Musk says he has $46.5b to buy Twitter
NEW YORK CITY, RAW – Elon Musk has secured $US46.5 billion ($A62.5 billion) in funding to buy Twitter Inc and is considering a tender offer for its shares, a filing with US regulators shows. Musk himself has committed to put up $US33.5 billion, which will include $US21 billion of equity and $US12.5 billion of margin…
