Latest updates on Key Economic Indicators:

A$: $0.6490 USD (up 0.0040 USD)

Iron (SGX): $128.80 USD (up $0.75 USD)

Oil (WTI): $76.42 USD (down $1.26 USD)

Gold: $1,990.31 USD (down $2.44 USD)

Copper (CME): $3.7025 (down $0.0020 USD)

Bit-coin: $51,769.54 (up 5.21%)

Dow Jones: 38,382.79 (up 110.04 pts)

All changes compared to 7am yesterday.

Trump ‘unhinged’ & ‘diminished’, says Nikki Haley:

Republican’s last rival for presidential nomination tells NBC News’s Today ‘he is not the same person he was in 2016’

“To mock my husband, Michael and I can handle that,” the former South Carolina governor and UN ambassador told NBC News’s Today, referring to comments by Trump about Michael Haley, a national guard officer deployed in Djibouti.

“But you mock one member of the military, you mock all members of the military … Before, when he did it, it was during the 2016 election, and everybody thought, ‘Oh, did he have a slip? What did that mean?’ The problem now is he is not the same person he was in 2016. He is unhinged. He is more diminished than he was.”

In the 2016 campaign, Trump mocked John McCain, an Arizona senator and former nominee for president who was a prisoner of war in Vietnam.

Having avoided the draft for that war, Trump was expected to pay a heavy political price but did not, going on to attract controversy in office for allegedly deriding those who serve.

Haley’s use of the word “diminished” spoke to concerns about Trump’s age – 77 – but also that of the president, Joe Biden, who at 81 is facing a barrage of Republican attacks about his fitness for office. Haley, 52, has said older politicians should face cognitive tests.

Initially shy of attacking Trump, Haley has turned fire his way as primary rivals have dropped out, leaving her the last impediment to a third Trump nomination. 

Haley continues to say she will support Trump if he is nominated to take on Biden.

“But I will also tell you there is no way that the American people are going to vote for a convicted criminal. They’re not.”

Harry & Meghan rebrand as they launch new website:

Prince Harry and Meghan, the Duke and Duchess of Sussex, have had an online overhaul, relaunching a new website.

They used to be known as Sussex Royal, but their new website drops 

This is the couple's latest rebranding since their departure from royal duties in 2020.

It's not clear exactly when the website 'sussex.com' was launched but the BBC called it a "Brand revamp", noting the site's lack of royal references.

Harry and Meghan first, Duke and Duchess second:

The site's home page greets users with a photo of the couple, branded as "The office of Harry and Meghan", with the pair's names in the largest font. 

When they stepped down as working royals, Prince Harry and Meghan were stripped of the HRH aspect of their titles but they were still considered the Duke and Duchess of Sussex. 

The website features a biography for both Harry and Meghan.

They mention their children, Prince Archie and Princess Lillibet, but no other royal family members.

The prince's profile details his 10-year military career, his charities and his memoir Spare, but nothing about being fifth in line to the throne.

Meanwhile, Meghan's profile focuses strongly on her work supporting women, her career in the entertainment industry, her role in the TV series Suits and her work as an author.

Labor's tax sales blitz to cost $40m

The Australian - Page 1 & 5 : 15 February 2024 - Original article by Patrick Commins - Portmac.News Summary

Finance Minister Katy Gallagher has revealed that the federal government has allocated a budget of up to $40m for a public information campaign on its changes to the stage-three income tax cuts.

She also said this campaign will be of a "Similar size and scale" to the one undertaken by the Coalition to promote the three-stage income tax package in 2019; however, she later advised that the Coalition had spent just $24m over three years on this campaign.

Meanwhile, Treasury secretary Steven Kennedy has told a Senate estimates hearing that he told Treasurer Jim Chalmers in mid-December that any options to provide cost-of-living relief for middle-income Australia would most likely need to include changes to the tax system.

Public servants working from home not 'disconnected'

The Australian Financial Review - Page 3 : 15 February 2024 - Original article by Tom McIlroy, Cindy Yun -Portmac.News Summary

The Department of Employment & Workplace Relations is under scrutiny over revelations that about a third of its staff have an approved working-from-home arrangement.

They currently work remotely for about 1.9 days per week.

The revelation has coincided with the passage of the federal government's latest tranche of industrial relations reforms, which includes a 'right to disconnect'.

The department's secretary Natalie James has rejected suggestions that its staff are disconnected from the office when they are working from home.

She has told a Senate estimates hearing that the staff are highly engaged with their duties when working remotely and are entitled to a work-life balance.

Supermarkets target to ease price pressure

The Australian Financial Review - Page 9 : 15 February 2024 - Original article by Tom McIlroy, Cindy Yin - Portmac.News Summary

Independent MP Bob Katter has used a submission to the Senate's inquiry into supermarket pricing to argue that mark-ups on groceries should be capped.

He claims that consumers are being charged price mark-ups of up to 267% of what retailers such as Coles and Woolworths pay their suppliers.

He has called for mark-ups to be restricted to a maximum of 100%, as well as a requirement for grocery retailers to publicly disclose the prices they pay suppliers.

Katter has also advocated capping the market share of each grocery retailer at 23%

'No vetting' before Fiji ADF role

The Australian - Page 1 & 6 : 15 February 2024 - Original article by Ben Packham, Stephen Rice - Portmac.News Summary

Australian Defence Force chief Angus Campbell has advised that the controversial appointment of Fiji's Col­onel Penioni Naliva to a senior army role is being reviewed.

Campbell has told a Senate estimates hearing that the ADF failed to conduct independent background checks on Naliva prior to his appointment as the deputy commander of the Australian Army's 7th Brigade.

Campbell also stressed that Naliva deserves the presumption of innocence until the allegations of human rights abuses are investigated.

He also said Naliva has not been stood aside and is currently working from home on full pay.

Services Australia employees publicly shamed for toilet breaks over 5 minutes

abc.net.au - Page Online : 15 February 2024 - Original article by Nicole Hegarty - Portmac.News Summary

The federal government agency that is responsible for Centrelink and Medicare is continuing to attract scrutiny over allegations that staff are micro-managed.

It has been claimed that Services Australia's call-centre employees can face disciplinary action for exceeding their allocated five-minute toilet break; this includes having their name displayed on a whiteboard in the office.

Independent senator David Pocock raised the issue in a Senate estimates hearing on Wednesday, saying it is unacceptable to publicly humiliate people over the length of their toilet break.

Services Australia CEO David Hazlehurst says he will investigate the allegations.

RBA might not cut until 2025: CBA

The Australian Financial Review - Page 1 & 18 : 15 February 2024 - Original article by Lucas Baird, Cecile Lefort, Joshua Peach, James Eyers -Portmac.News Summary

Commonwealth Bank of Australia economists expect the Reserve Bank to begin easing monetary policy in September.

However, CEO Matt Comyn says the central bank could potentially delay the first interest rate cut until early 2025, citing the "Persistent" inflationary environment.

Stronger-than-expected US inflation data has heightened speculation that interest rates in both nations will not be reduced in the near-term; the US inflation rate fell to 3.1% in the year to January, but economists had expected it to fall to 2.9%.

US consumer prices also rose by a higher-than-expected 0.3% in January.

Australia's inflation rate eased in the year to December, but the RBA has flagged further interest rate increases if this proves necessary to curb inflation.

Home loan hardship on the rise: CBA

The Australian - Page 15 & 20 : 15 February 2024 - Original article by Paulina Duran - Portmac.News Summary

The Commonwealth Bank of Australia has reported cash earnings of $5.02b for the first half of 2023-24, which is 3% lower than previously.

The impact on businesses and households of higher interest rates and cost-of-living pressures has prompted CBA to slightly increased its bad debt provisions, to $6.06b.

Meanwhile, CEO Matt Comyn says the proportion of mortgage customers experiencing hardship has risen by about 20%.

CBA shareholders will receive a fully franked interim dividend of $2.15 per share.

Qantas to fly in strike busters

The Australian - Page 17 : 15 February 2024 - Original article by Robyn Ironside - Portmac.News Summary

Industrial action by pilots at Qantas subsidiary Network Aviation has resulted in the cancellation of 50 flights on Wednesday and Thursday.

More flights are expected to be cancelled in coming days after the Australian Federation of Air Pilots advised that the strike has been extended from two days to six.

The Network Aviation pilots are seeking pay parity with their Qantas peers, but the airline contends that this is unreasonable given that they fly significantly fewer hours.

Qantas has also drawn up contingency plans to use charter aircraft and pilots from other airlines if the industrial action is prolonged.

Huge leap in cancer vaccine research

The Australian - Page 3 : 15 February 2024 - Original article by Natasha Robinson - Portmac.News Summary

Scientists at Melbourne's Peter MacCallum Cancer Centre have made a significant breakthrough in the use of mRNA-based vaccines in treating a range of medical conditions.

These vaccines are effective in inducing an immune response in viral diseases such as COVID-19, but the genetic material breaks down quickly in the body and is therefore difficult to apply to other diseases.

However, the scientists have discovered how a type of genetic material called circular RNA is actively transported out of the nucleus of cells to their site of action in the body of the cell.

This means that circRNA vaccines could eventually be developed for cancer and other diseases.

Cut costs: Network Ten set to axe staff

The Australian - Page 2 : 15 February 2024 - Original article by Sophie Elsworth - Portmac.News Summary

Paramount Global's CEO Bob Bakish has informed staff via email that earnings growth is a top priority for the media group in 2024.

He added that Paramount must continue to increase revenue while reducing costs, which will require job cuts across its operations.

Bakish did not reveal the extent of the job losses, but it is believed to comprise hundreds of jobs worldwide.

Bakish confirmed that the job cuts will affect its non-US operations, although the extent of any job cuts at Paramount's Ten Network subsidiary in Australia is not yet known.

Stokes warms to billionaires gas pact

The Australian Financial Review - Page 13 : 15 February 2024 - Original article by Brad Thompson - Portmac.News Summary

Seven Group has posted a statutory net profit of $225m for the first half of 2023-24, which is 36% lower than previously.

However, underlying net profit rose 31% to $474m, due to the performance of its WesTrac and Coates Hire businesses.

Meanwhile, Seven Group's CEO Ryan Stokes says the Western Australian government should review its ban on exports from onshore gas projects.

The Watsia project of Beach Energy - in which Seven has a 30% stake - was granted a special exemption from the export ban in 2020.

Stokes says the Watsia partners may be open to working with other players in WA's onshore gas industry, including mining billionaires Gina Rinehart and Chris Ellison.

ASX Shares fall as inflation dashes rate cut hopes

The Australian Financial Review - Page 24 : 15 February 2024 - Original article by Joanne Tran - Portmac.News Summary

The Australian sharemarket retreated on Wednesday, with the S&P/ASX 200 shedding 0.7% to close at 7,547.7 points.

Local investors took their lead from Wall Street, which was sold down in response to a rise in the US headline inflation rate, which is likely to rule out interest rate cuts in Australia and the US in the near-term.

BHP fell 0.8% to $45.95, the Commonwealth Bank was down 1.7% at $114 and GrainCorp shed 12.3% to end the session at $7.20.

However, AMP rose 10.3% to $1.07 and Downer EDI was up 11.1% at $4.79.