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All changes compared to 7am yesterday.

Queensland Will be nuclear hub under Coalition’s new energy plan 

Dutton has told his Coalition colleagues he will go to the next election promising to build seven nuclear power stations.

Dutton will promise the first two sites can be operational between 2035 and 2037, several years earlier than the timeframe the CSIRO and other experts believe is feasible.

As had been previously flagged, the stations are all on retiring or retired coal sites.

Government to own plants but price tag unknown

The Coalition is proposing that the government should partially fund the plants in partnership with "experienced nuclear companies" and then own the plants in a similar model to Snowy Hydro and the National Broadband Network.

further funding details will not be announced today, including the total cost. Mr Dutton said "comprehensive site studies" would be needed before that price tag could be revealed.

The Coalition has been promising details of a nuclear policy, including specific sites and funding details, for several months amid expert concerns over the cost and timeframe. 

Last week, Mr Dutton also revealed the Coalition would campaign against the Labor government's legislated target to reduce emissions by 43 per cent by 2030, and would not outline a 2030 emissions reduction target of its own before the election.

Dutton said the policy was the result of "an enormous amount of work … We want to utilise existing assets that we have got … Poles and wires that are used at the moment on the coal-fired power station sites can be utilised to distribute the energy generated from [nuclear reactors]."

Israel approves ‘operational plan’ for Lebanon offensive:

The Israeli military on Tuesday said operational plans for an offensive in Lebanon were "approved and validated" even as US special envoy Amos Hochstein visited Lebanon in a bid to de-escalate tensions.

Israel has warned Hezbollah that it would be destroyed in the event of a "total war", after a US envoy called for de-escalation on the Lebanese border as tensions flare.

Foreign Minister Israel Katz's comments came after Hezbollah published a video showing drone footage purportedly taken by the Lebanese movement over northern Israel, including parts of the city and port of Haifa.

"We are very close to the moment when we will decide to change the rules of the game against Hezbollah and Lebanon," Katz said in a statement.

"In a total war, Hezbollah will be destroyed and Lebanon will be hit hard."

US envoy Amos Hochstein, on a visit to Lebanon, earlier Tuesday called for an "urgent" de-escalation of the cross-border fire between Hezbollah and Israel.

"The conflict... between Israel and Hezbollah has gone on for long enough," said the US presidential envoy.

"It's in everyone's interest to resolve it quickly and diplomatically -- that is both achievable and it is urgent."

PM's last word on press freedom as Li departs

The Australian - Page 2 : 19 June 2024 - Original article by Paul Garvey, Will Glasgow, Joe Kelly - Portmac.News Summary

Chinese Premier Li Qiang ended his four-day visit to Australia on Tuesday.

However, the federal government failed to make any progress in getting China to lift its ban on Australian lobster imports, which is the only major export that remains subject to Chinese trade restrictions.

Meanwhile, Prime Minister Anthony Albanese has belatedly responded to Chinese officials' attempts to block freed journalist Cheng Lei from the view of cameras during a joint press conference with Li on Monday.

Albo said the action was "clumsy" and "ham-fisted", but Opposition leader Peter Dutton has called on him to "grow a backbone" and stand up for Australia.

The government also waited until Li had left Australia before releasing a statement expressing its "grave concern" over an incident in which Chinese ships had rammed Philippines vessels in the South China Sea.

Investment tax break call falls on deaf ears

The Australian Financial Review - Page 6 : 19 June 2024 - Original article by Brad Thompson - Portmac.News Summary

The federal government has declined to state its position on whether companies with links to China will be eligible to receive production tax credits.

Resources Minister Madeleine King says the main purpose of this incentive is to encourage the downstream processing of critical minerals in Australia.

She acknowledged that China-based Tianqi is doing this at its Kwinana lithium processing plant in Western Australia.

Chinese Premier Li Qiang visited the plant on Tuesday, accompanied by Prime Minister Anthony Albanese. Li has told China's state-run media that he hopes for a "fair and non-discriminatory" business environment for Chinese companies that have assets in Australia.

Treasurer on the defensive as RBA raises alarm over big-spending budgets

The Australian - Page 1 & 4 : 19 June 2024 - Original article by Patrick Commins - Portmac.News Summary

Reserve Bank governor Michele Bullock says the central bank's board is prepared to "do what is necessary" to restore inflation to its target range by mid-2025.

The RBA's decision on Tuesday to leave the cash rate unchanged at 4.35% had been widely expected by economists.

Bullock has indicated that the board had considered a rate rise, while a rate cut had not been on the agenda; she notes that the inflation figures for April were "a bit higher than expected".

The RBA also expressed concern in its monetary policy statement that cost-of-living relief and other spending measures in federal and state budgets may fuel inflation.

However, Treasurer Jim Chalmers says the government's strategy is "the right one".

Retailers welcome June cash rate relief

Australian Retailers Association - Page Online : 19 June 2024 - Portmac.News Summary

The Australian Retailers Association has welcomed the Reserve Bank of Australia's decision to again hold cash rates at 4.35% following subdued retail trade data.

The ARA's Chief Industry Affairs Officer Fleur Brown says retailers continue to battle the dual headwinds of a spending downturn coupled with high costs of doing business.

She notes that whilst interest rates have remained on hold since November, most Australian household budgets remain under significant pressure, Brown adds that retail sales continued to soften in April, with most discretionary categories remaining in decline - making it all the more important to avoid another cash rate increase.

Brown also says that changes to interest rates typically have a lag effect on sales, and the retail sector is still experiencing the impacts of interest rate increases in 2023.

The RBA will meet again early August, and retailers are hopeful that an interest rate reduction may be on the horizon.

Labor moves to break up CFMEU

The Australian Financial Review - Page 3 : 19 June 2024 - Original article by David Marin-Guzman - Portmac.News Summary

Workplace Relations Minister Tony Burke will introduce a bill to parliament next week to enable the CFMEU's manufacturing division to demerge.

The proposed legislation will allow the division to apply to the Fair Work Commission to leave the construction-dominated CFMEU.

The federal government has been prompted to push ahead with the bill in response to demands from the CFMEU's Victorian state secretary John Setka for the AFL to sack its head of umpiring due to his former role as head of the defunct Australian Building & Construction Commission.

The CFMEU's mining division has previously demerged to form its own union.

Australia's biggest companies made nearly $100bn in 'crisis profits'

The Guardian Australia - Page Online : 19 June 2024 - Original article by Stephanie Convery - Portmac.News Summary

Analysis by Oxfam Australia suggests that the nation's 500 largest companies were boosted by about $98bn in 2022 and 2023, due to global crises such as the COVID-19 pandemic and Russia's invasion of Ukraine.

Oxfam estimates that iron ore producers benefited the most, generating so-called 'crisis profits' of $34bn in 2022 and $5.7bn in 2023.

Other sectors that recorded strong growth in profits due to crisis-driven inflation include supermarkets, banks, energy companies and the broader retail sector.

Oxfam has urged the federal government to introduce a 'crisis profits tax'.

Social media age ban risks stoking surveillance

The Age - Page Online : 19 June 2024 - Original article by David Swan - Portmac.News Summary

Former Google employee Meredith Whittaker has questioned the merits of a push to ban Australians under the age of 16 from accessing social media.

The president of encrypted messaging company Signal contends that imposing age restrictions is technically unfeasible and age verification technologies are not 'fit for purpose'.

Whittaker adds that while technology platforms need to be "reined in", the proposed restrictions could result in greater monitoring of internet usage, as the age of everybody who logs onto a social media site would need to be verified.

NSW Budget a missed opportunity for cost-of-living relief

Australian Retailers Association - Page Online : 19 June 2024 - Portmac.News Summary

The Australian Retailers Association has welcomed a number of measures in the New South Wales budget, but highlighted the lack of support for small businesses and families doing it tough.

Major announcements of interest to the retail sector include the Future Women Jobs Academy program; the extension of subsidised apprenticeships and traineeships; significant investment to build, upgrade and repair roads, in order to improve supply chain efficiencies and resilience; and additional support for the Office of the 24-Hour Commissioner to focus on regulatory reform and other initiatives to support growth of the night-time economy.

The ARA's Chief Industry Affairs Officer Fleur Brown said the supply chain and training measures announced in the budget are much needed.

However, she adds that with Australians facing one of their toughest years financially, the sector was hoping for more solutions to ease pressures on struggling households and businesses.

AgTech is used by a majority of Australian farmers

Market Research Update - Page Online : 19 June 2024 - Original article by Roy Morgan - Portmac.News Summary

A Roy Morgan survey of Australian farmers with a special focus on Agricultural Technology shows that 89% of farmers have used, or would consider using, AgTech.

In contrast, only 11% of farmers would not consider using it. AgTech use is widespread amongst farmers, with 78% of farmers using AgTech either now or in the past, and 72% of farmers currently using AgTech in their business.

These results mean that only 6% of farmers have used AgTech and then given up on the technology.

Leading forms of AgTech used by Australian farmers include farm management software, electronic ID tags, satellite technology, precision farming, drones and remote sensors.

AI-enhanced blood test may detect Parkinson's years before onset

The Guardian - Page Online : 19 June 2024 - Original article by Ian Sample - Portmac.News Summary

More than 10 million people worldwide have been diagnosed with Parkinson's disease, including about 150,000 in the UK.

A research team from the University College London and Germany's University of Gottingen have developed a blood test which can predict whetherr someone is at risk of the neurodegenerative condition up to seven years before symptoms appear.

The researchers used a machine learning algorithm to identify a signature pattern of eight blood proteins in patients who have Parkinson's; the algorithm was then able to predict future Parkinson's in other patients via their blood samples.

Investor exodus picks up pace in major cities

The Australian Financial Review - Page 31 & 32 : 19 June 2024 - Original article by Nila Sweeney - Portmac.News Summary

Data from Suburbtrends shows that more than 4,000 ex-rental residential properties across Victoria were listed for sale in May.

This includes 3,126 in Melbourne, which is 32% higher year-on-year. Suburbtrends founder Kent Lardner says the state government's new tax on property investors has been a key driver of the trend for landlords to exit the housing market.

Some 2,372 ex-rental properties were listed for sale in Sydney during May, a year-on-year increase of 20%, while there were 3,593 such listings across NSW.

Propertybuyer CEO Rich Harvey says the state government's land tax changes will prompt more investors to sell up.

ASX All sectors Up

The Australian Financial Review - Page 28 : 19 June 2024 - Original article by Joanne Tran - Portmac.News Summary

The Australian sharemarket was boosted by a positive lead from Wall Street on Tuesday, with the S&P/ASX 200 adding 1% to close at 7,778.1 points.

Rio Tinto rose 0.9% to $119.26, the Commonwealth Bank was up 2% to a new high of $127.98 and Origin Energy advanced 3.5% to $10.41.

Fortescue shed 5.2% to end the session at $21.79 and Beach Energy was down 2.2% at $1.53.