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AMA report says public hospitals in crisis

CANBERRA, AAP – Public hospitals are caught in an unending cycle of crisis caused by a funding formula which has failed to arrest a decline in performance over a decade, the Australian Medical Association says in a new report. “Our hospitals are full – there simply aren’t enough hospital beds or enough doctors and nurses…

Wall St up sharply, earnings lift optimism

NEW YORK, RAW – US stocks have surged on Thursday as companies including Morgan Stanley and UnitedHealth gained following strong results, while data on the labour market and inflation soothed worries about the outlook for higher rates. The technology sector gave the S&P 500 its biggest boost, with shares of Microsoft Corp and Apple Inc…

Miners, tech help ASX end losing streak

SYDNEY, AAP – Investors on the Australian share market have had their first day of gains this week and recouped most of their losses. The market on Thursday closed about half of one per cent higher after a good lead from Wall Street. Technology stocks were standout performers, followed by materials. There were losses for…

Asian stocks up as US dollar squeezed

SINGAPORE, RAW – Asian stock markets have risen, the US dollar has eased and longer-dated bonds rallied as investors reckoned on inflation bringing forward rate hikes around the world. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent. Japan’s Nikkei climbed one per cent. The Shanghai Composite was marginally softer while Hong…

Jobs data in the twilight zone

Jobs data in the twilight zone Labour force Employment fell by 138,000 in September. Part-time jobs fell by 164,700, but full-time jobs rose by 26,700. The participation rate fell from 65.2 per cent to a 15-month low of 64.5 per cent. The unemployment rate rose from a 12½-year low of 4.5 per cent to 4.6…

NSW public servants to help with harvest

SYDNEY, AAP – As some NSW farmers head into what’s expected to be one of their best harvests in 90 years, a severe labour shortage is continuing to bite. But in an innovative attempt to try and help growers, thousands of public servants will soon be able to get five days leave in an effort…

Employment falls by further 138,000

CANBERRA, AAP – Australia’s unemployment rate ticked up to 4.6 per cent in September as a further 138,000 jobs were lost due to lockdowns in NSW, Victoria and the ACT. The jobless rate had unexpectedly eased to a near-13-year low of 4.5 per cent in August as a result of people giving up searching for…

Facebook expands harassment policy

SAN FRANCISCO, AP – Facebook will expand its policies on harassment in its latest change following congressional testimony from a whistleblower who accused the social media giant of not doing enough to stop harmful content. Under its new, more detailed harassment policy, Facebook will bar content that degrades or sexualises public figures, including celebrities, elected…

Aust shares set for first gains of week

SYDNEY, AAP – Australia’s share market appears set for its first gains of the week while the unemployment rate also rose due to coronavirus lockdowns. The market was higher by 0.8 per cent on Thursday following a good lead from the US helped by technology stocks. ASX technology shares benefited most. Artificial intelligence software vendor…

S&P 500 rises but JPMorgan a drag

NEW YORK, RAW – The S&P 500 has ended higher, led by gains in shares of big growth names like Amazon and Microsoft, but JPMorgan shares fell and weighed on the index even though the bank beat earnings expectations. The S&P 500 briefly added to gains following the release of minutes from the September Federal…