Chinese port city reports COVID case dip
BEIJING, RAW – The Chinese city of Tianjin has reported fewer COVID-19 cases after conducting mass testing and locking down some areas to curb the highly transmissible Omicron variant. Tianjin, a key port in northern China, reported 18 domestically transmitted cases with confirmed symptoms for Monday, National Health Commission (NHC) data showed on Tuesday. That…
‘Blue carbon’ projects to offset emissions
SYDNEY, AAP – “Blue carbon” is among a range of new options that can earn credits in Australia’s voluntary carbon market. Minister for Industry, Energy and Emissions Reduction Angus Taylor announced on Tuesday that farmers, businesses and industries can benefit from the new methods of offsetting carbon emissions, as part of the Emissions Reduction Fund…
Qld to reopen international border on Sat
BRISBANE, AAP – Queensland will scrap quarantine for twice-vaccinated international travellers from 1am on Saturday. Premier Annastacia Palaszczuk announced that almost all restrictions on vaccinated international arrivals will dumped for the first time since March 2020. She says the date has been set as the state is set to hit a vaccination coverage target of…
Gas-fired ‘con’ banked by net-zero lenders
CANBERRA, AAP – Bankers have been accused of “industrial-scale greenwashing” by financing a huge new gas field. But National Australia Bank and Westpac insist they’re on board with the global push for net-zero emissions. Woodside and BHP signed a $16.5 billion offshore LNG joint venture in November, which will cement another 30 years of gas…
Omicron likely to restrain economic growth
CANBERRA, AAP – Economists will get some clues for Thursday’s crucial labour force figures when payroll jobs data is released for the first half of December. The latest payroll jobs report from the Australian Bureau of Statistics on Wednesday will cover the fortnight to December 18. Economists expect the strong employment recovery seen in November,…
Wall Street falls as tech stocks drop
NEW YORK CITY, RAW – Wall Street’s main indexes have fallen as big technology stocks were slammed by rising Treasury yields while Goldman Sachs led declines among banks after posting its quarterly profit below expectations. Two-year Treasury yields, which track short-term rate expectations, crossed 1.0 per cent for the first time since February 2020 amid…
Tree changers push NSW land value up $400b
SYDNEY, AAP – “Ski changers” and “tree changers” are being blamed for pushing the price of land in NSW to a record-high peak. Land in the state was valued at $2.2 trillion in the 12 months to July 2021, up from $1.8 trillion – an uptick of 24.8 per cent. The biggest growth was recorded…
Aust shares rolled by rising bond yields
SYDNEY, AAP – A second-half fade for the ASX has left investors with a reminder that rising interest rates could dominate 2022. The Australian market turned from gains to losses on Tuesday as bond yields rose here and abroad. The Australian government 10-year-bond was at 1.93 per cent as investors anticipate the US Federal Reserve…
Statewide Superannuation to pay $4 million penalty
The Federal Court has imposed combined penalties of $4 million on Statewide Superannuation Pty Ltd (Statewide) for providing members with misleading information regarding their insurance and failing to breach report the issue to ASIC in the time required by law. ASIC Deputy Chair Sarah Court said, ‘Statewide provided misleading communication to thousands of its members,…
Rapid tests to ‘play role’ in NSW schools
SYDNEY, AAP – NSW Premier Dominic Perrottet says rapid antigen tests will play a role in the government’s strategy to get kids back to school for term one as the state’s COVID-19 situation worsens. “We see a role of rapid antigen tests … as we open up schools … and that’s why we procured here…
