Aged care reform pledge as election looms
CANBERRA, AAP – Anthony Albanese has pledged $2.5 billion to help the country’s aged care sector, as the Labor leader made the case in his budget reply speech to become the nation’s next prime minister. Mr Albanese laid out a five-point plan on Thursday night to overhaul aged care, including requirements for every aged care…
US taps oil reserve for six months: Biden
WASHINGTON, D. C., RAW – US President Joe Biden has launched the largest release ever from the country’s emergency oil reserve and challenged oil companies to drill more in an attempt to bring down petrol prices that have soared during Russia’s war with Ukraine. Starting in May, the United States will release one million barrels…
Russian gas ‘must be paid for in roubles’
MOSCOW, RAW – Russian President Vladimir Putin says he has signed a decree saying foreign buyers must pay in roubles for Russian gas from April 1 and contracts would be halted if these payments were not made. “In order to purchase Russian natural gas, they must open rouble accounts in Russian banks. It is from…
S&P has biggest quarterly drop in 2yrs
NEW YORK, RAW – Wall Street has slumped to close out the first quarter with its biggest quarterly decline in two years as concerns persisted about the continuing conflict in Ukraine and its inflationary effect on prices and the Federal Reserve’s response. While optimism about a possible peace deal between Ukraine and Russia helped lift…
Aust share market has best month in 16
SYDNEY, AAP – Surging commodity prices and the prospect of banks charging higher rates have helped the ASX to its best month in the past 16. The Australian market slipped lower in the final minutes of trading on Thursday but ended March with gains of 6.39 per cent. The benchmark S&P/ASX200 index closed down 14.9…
PM issues budget challenge to Albanese
CANBERRA, AAP – The government has challenged Anthony Albanese to outline Labor’s alternative economic approach when the Labor leader hands down his budget reply speech on Thursday night. Prime Minister Scott Morrison has attacked the opposition leader for having a lack of economic plan, just days out from the start of the federal election campaign….
US may tap oil reserve as fuel prices soar
WASHINGTON, RAW – President Joe Biden’s administration is considering releasing one million barrels of oil a day for several months from the Strategic Petroleum Reserve to reduce petrol prices, two senior US officials say. Biden will give remarks on Thursday on his administration’s actions, the White House says, after Russia’s invasion of Ukraine and sanctions…
Energy official tested on renewable claims
CANBERRA, AAP – A budget cut in climate spending and federal government claims about billions of dollars of investment in renewable energy are under scrutiny. Labor senator Jenny McAllister grilled officials on Thursday on the budget papers, which she said showed climate spending “falling precipitously” over the next four years. Deputy Secretary of the Department…
WA caps airfares for regional residents
PERTH, AAP – In a national first, Western Australia has capped the cost of airfares for people living in regional areas. The Labor government says fares will be capped for residents travelling to and from Perth from July 1. Under the plan, people travelling from an airport within 1000km driving distance from the state capital…
Vacancy data to confirm lower jobless rate
CANBERRA, AAP – New job vacancy figures are likely to back the case for a sustained move in the unemployment rate under four per cent. This week’s federal budget, and the Reserve Bank of Australia’s most recent forecasts, point to the jobless rate hitting 3.75 per cent this year, a level not seen since the…
