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Oil bounces on US stimulus hopes

Oil prices bounced overnight as investors turned optimistic that the US Congress may resume stimulus discussions that have been stuck in the swap. Lawmakers were all ears after a chorus of US Federal Reserve committee members were again at pain to point out the need for additional fiscal support. And cries from the world’s top…

Gas plan is load of hot air, say students

The Morrison government faces a nationwide call to pump money into renewable energy and clean technology, rather than gas, to stimulate the economy and cut emissions. Thousands of students are expected to gather at about 400 events across the country as part of the School Strikes for Climate campaign. The events, which will also occur…

Reforms cut cost and time to access credit

Access to credit is expected to be made easier under law changes to be announced by Treasurer Josh Frydenberg on Friday. At the same time, the Morrison government will strengthen consumer protections for vulnerable people accessing so-called “payday loans”. About $13 billion of credit is extended each month to help Australian families buy their own…

Aged care needs palliative care revamp

Palliative care should not just be viewed as a way of nursing people through the last few days of life. That’s the message from a group of advocates who argue it plays an essential and ongoing role in aged care. Palliative Care Australia is making eight key recommendations to improve palliative care in nursing homes,…

Wall St closes higher thanks to tech rally

Wall Street has rallied in a rocky session as beaten-down technology shares gained favour after data showing a surge in the sale of new homes revived faith in the economic recovery even as US jobless claims rose unexpectedly. Stocks also reacted positively to news of efforts to enact further stimulus in Washington DC, helping lift…

Insolvency change lifeline for small firms

Business groups believe proposed changes to insolvency laws will be a lifeline for thousands of small businesses struggling through the COVID-19 pandemic. Treasurer Josh Frydenberg wants to give more control to small businesses facing financial hardship to protect them from being wound up. Drawing on key features of bankruptcy laws used in the United States,…

Report slams water planning in NSW regions

The NSW government has failed to effectively support regional water infrastructure planning for the last six years, according to an independent report. The performance audit, released on Thursday, said the Planning, Industry and Environment Department had not “effectively supported or overseen town water infrastructure planning in regional NSW since at least 2014”. “It has also…

ASX closes down, AUD slides to 70 US cents

Australia’s share market has finished lower for the fifth time in the last six sessions and the Aussie dollar continued falling towards 70 US cents amid concerns about global economic recovery. The S&P/ASX200 benchmark index finished down 48.0 points, or 0.81 per cent, to 5875.9 points on Thursday. The All Ordinaries index closed lower by…

Aussie population growth hits 8½-year low.

Aussie population growth hits 8½-year low Most jobs added in Accommodation & Food Services Population; Employment by industry Population: Australia’s population increased by 357,000 people to 25,649,985 people over the year to March. Overall, Australia’s annual population growth rate eased from 1.45 to 1.41 per cent – the slowest pace in 8½ years. Natural increase…

Frydenberg praises RBA for COVID-19 work

Treasurer Josh Frydenberg says the Reserve Bank has done “very well” during the coronavirus crisis, while taking a swipe at Paul Keating for criticising the way the central bank operates. Mr Keating, the former Labor prime minister and treasurer, accused the Reserve Bank for its tardiness in the face of the pandemic. The spat came…