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Qantas boss paid nearly $2m last year

SYDNEY, AAP – Qantas boss Alan Joyce was paid almost $2 million in the past financial year, while thousands of the airline’s staff were cut due to the effect of COVID-19. Mr Joyce’s pay of $1.98 million was about 80 per cent less than his pre-pandemic annual earnings of about $10 million, according to Qantas’…

Facebook slaps German anti-lockdown group

LONDON, RAW – Facebook has removed a network of accounts linked to an anti-coronavirus restrictions movement in Germany as it announced a new crackdown on coordinated campaigns of real users that it says cause harm on and off its platforms. Facebook has been working for several months to use tactics against “coordinated social harm,” its…

IMF, World Bank urge more jabs for poor

WASHINGTON, RAW – The International Monetary Fund and and other multilateral organisations are urging countries with high COVID-19 vaccination rates to boost efforts to send doses to low- and middle-income countries. IMF managing director Kristalina Georgieva and the heads of the World Bank Group, World Health Organisation and World Trade Organisation have expressed concern in…

Wall St dips amid rising Treasury yields

NEW YORK, RAW – The S&P 500 has ended slightly down, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the US economic recovery. The three major indexes spent much of the day in negative territory as rising US Treasury yields pressured market-leading tech stocks and the rising US…

World Bank ‘pressured’ to boost China rank

WASHINGTON, D. C., RAW – The World Bank says it has ended publication of its “Doing Business” report on country investment climates after a probe of data irregularities cited “undue pressure” by top bank officials to boost China’s ranking in 2017. The World Bank said in a statement that the decision came after internal audit…

High Court test for electric vehicle tax

MELBOURNE, AAP – Victoria’s new tax on electric vehicles is set for a High Court challenge, with two Melbourne drivers mounting a legal case. A levy of up to 2.5 cents per kilometre was introduced for electric vehicle users in July this year, but Chris Vanderstock and Kathleen Davis believe the tax is unconstitutional. Their…

ASX posts biggest gains since early August

SYDNEY, AAP – Investors have enjoyed their biggest gains on the ASX since early August despite jobs figures showing lockdown impacts on the economy. The market on Thursday gained more than 0.5 per cent after a broad-based rally. Many workers in Australia have given up looking for jobs during coronavirus lockdowns in the ACT, NSW…

Lockdowns play havoc with job market data

Lockdowns play havoc with job market data Labour force What happened? Employment fell by 146,300 in August after rising by 3,100 in July. Full-time jobs fell by 68,000 and part-time jobs fell by 78,200. The participation rate fell from 66 per cent to 65.2 per cent. Hours worked fell by 3.7 per cent. Hours worked…

Wesfarmers to buy pharmacy group

SYDNEY, AAP – Wesfarmers looks like it may have sealed a takeover of Australian Pharmaceutical Industries (API) after an increased offer for all shares. The two companies have agreed for Wesfarmers to buy all API shares for more than $736 million after the former raised its offer from $1.38 per share to $1.55 per share….

CommSec Daily Report Thursday

Latest news The Aussie market is back in the winner’s column for a third time this week, with the ASX 200 up by ~0.7 per cent. This is more than enough to recoup Wednesday’s 0.27 per cent decline and follows a strong lead from Wall Street overnight. While Australian equities are still down by ~1…