Australia

ABSC Inc. celebrates its First Anniversary and launches Ekonomos magazine

  The Australian Business Summit Council Inc. held its inaugural Annual Gala Dinner to mark the first anniversary of the Council’s establishment at The Waterview in Bicentennial Park, Homebush on Wednesday 27 November 2019. Studded with almost 300 eminent business leaders, ambassadorial and consular officials, academics, political leaders, community leaders and representative members of the press, this sensational function celebrated ...

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Sydney news: NSW economy loses to Tasmania, suspected hydroponic set-up damaged by fire

Here’s what you need to know this morning. NSW economy falls behind Tasmania NSW’s economy has dropped behind Tasmania, while Victoria remains the best performing economy in the country, according to CommSec’s State of the States report. The quarterly report shows NSW was a solid performer in construction but fell on relative population growth and dwelling starts. CommSec said Victoria ...

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Boom, doom and gloom: The forces uniting Australia and the United States

Why the long faces, everyone? For years, Australian consumers have been twitchy. With good reason. A lethal combination of soaring household debt, overpriced real estate and painfully weak wages have seen households slam the brakes on spending. Now, the pessimism is spreading to the business world and to financial markets. A survey of corporate leaders last week — almost 1,500 ...

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Bill Shorten breaks his election loss silence and vows to remain in federal politics

Former Labor leader Bill Shorten has committed to a future in the Federal Parliament, vowing he has “still got the fire for politics” in his first formal interview since May’s election loss. Mr Shorten has kept a low profile since he stepped down as Labor leader after his party lost an election most expected it would win. In an interview ...

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Regional households are struggling to pay power bills and it’s not just about energy prices

Ron D’Arcy is often the last person in his family of nine to shower, so when the hot water ran out one winter’s morning, it didn’t occur to him the electricity had been cut off. It wasn’t until the next week — a long one spent showering at his father’s house — that the family realised the problem wasn’t technical, ...

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Marion council backflips on decision to evict Cove Cobras over sexual harassment allegations

The City of Marion has backflipped on a decision to evict the Cove Cobras Football Club from its Hallett Cove premises over sexual harassment and intimidation allegations. The council will instead renegotiate the club’s lease with strict conditions to improve club culture. The decision follows a campaign to stay from long-time Cobras members and comes just nine days before the ...

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IMF predicts synchronised slowdown in global growth, warns rate cuts are not enough to stop it

Australia has been caught up in a sharp downturn being forecast for the global economy as headwinds from the US-China trade war and Brexit tensions bite into growth. The International Monetary Fund is predicting a “synchronised slowdown” with global growth in 2019 downgraded once again to 3 per cent — noting a “serious climbdown” from 3.8 percent in 2017. The ...

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Australia and US looking to challenge China’s hold on the rare earths market

Australia and the US are in discussions to try and open up the rare earths market which is currently dominated by China. Australia and the US have been in discussions to form a rare earths joint action plan to open up what has become a concentrated market that’s dominated by China. Rare earths are metals and alloys that are used ...

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Michael Lavarch to review NSW Labor after ‘shocking’ allegations at Icac

Anthony Albanese and Jodi McKay announce the appointment of the Keating government attorney general The former attorney general Michael Lavarch will lead a review into New South Wales Labor after the suspension of the general secretary Kaila Murnain over claims the party accepted $100,000 in banned developer donations from Huang Xiangmo. The New South Wales Labor leader, Jodi McKay, and ...

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Australia’s tortured energy debate: what is the state of play?

A look at how we got from national energy guarantee to ‘big stick’ – and what’s next There are a lot of moving parts in Australia’s tortured energy debate – and many of the parts are moving in the wrong direction. With parliament set to resume next week, and with energy back on the agenda, it is timely to recap ...

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