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Evergrande wires funds, averting default

HONG KONG, RAW – China Evergrande Group has wired funds to a trustee account for a dollar bond interest payment due on September 23, a source says, days before a deadline that would have plunged the embattled developer into formal default. The source corroborated a story in the state-backed Securities Times on Friday that the…

FedEx workers to strike next week

SYDNEY, AAP – FedEx workers across the country will walk off the job next week as talks over a workplace agreement break down. It’s the latest strike in a troubled few months for the parcel delivery industry, which has seen companies and workers standing off over work conditions and outsourcing. The Transport Workers’ Union says…

Palmer ‘reluctant’ to run for parliament

BRISBANE, AAP – Businessman Clive Palmer says he’s “reluctant” to run for federal parliament again because he’s got a new boat and has faith in Craig Kelly to lead the United Australia Party. The former federal MP said the party he founded is now the largest in the country, with 70,500 members, and that it’s…

ASX even as miners, oil traders lag

SYDNEY, AAP – An overnight fall in commodity prices is weighing on the Australian share market and causing notable losses for miners and energy providers. BHP dropped more than two per cent on Friday after prices for iron ore and other metals fell. Rio Tinto was down by about two per cent. Fortescue lost more…

G20 split over coal ahead of Rome summit

ROME, RAW – The Group of 20 rich countries are divided over phasing out coal and committing to limit global warming to 1.5 degrees Celsius as they prepare for a crucial summit in Rome next week, sources familiar with the negotiations say. The need to curb emissions will be high on the agenda of the…

Inquiry questions News Corp climate splash

CANBERRA, AAP – News Corp’s global head has defended the editorial independence of the company’s Australian newspapers. Robert Thomson said there was no direction from News Corp’s global management to local editors who chose to splash Australian mastheads with support for net-zero emissions. “I read about about the initiative on the same day you did,”…

RBA Governor: wages growth key to inflation spike

RBA Governor: wages growth key to inflation spike Reserve Bank Governor speech; Purchasing managers’ indexes The Reserve Bank Governor Philip Lowe participated in an online panel at Universidad de Chile’s Conference on Central Bank Independence, Mandates and Policies this morning. Governor Lowe said he did not think the rise in inflation would be sustained unless…

Task force to assess country bank closures

CANBERRA, AAP – A government task force including the big four banks will assess the consequences of regional branch closures for country communities. Ministers will hold their first meeting with banks, peak bodies and Australia Post in November to examine how closures have affected local businesses and industries. Regionalisation Minister Bridget McKenzie says access to…

Qantas restarts more international fights

CANBERRA, AAP – THE BIG QANTAS RESTART * Australia is preparing to reopen its international border to and from Sydney, NSW, for fully-vaccinated travellers from November 1. * Qantas and its low-cost carrier Jetstar will bring forward the restart of more international flights by up to three months. * All initial flights are limited to…

Nationals leader given climate talks nod

CANBERRA, AAP – Nationals leader Barnaby Joyce has been given the nod from his party room to strike a deal with Scott Morrison on climate policy ahead of global talks. It is understood a meeting of Nationals MPs on Thursday handed Mr Joyce a broad set of principles, rather than a wishlist of specific projects,…