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All changes compared to 7am yesterday.

Ukraine War:

Poland asks Germany to send Patriot missiles to Ukraine:

Warsaw was promised Germany's missile defenses but Polish officials now urge Berlin to send them to Ukraine instead but Berlin says their Patriot missiles are for NATO deployment only.

Polish Defense Minister Mariusz Blaszczak has asked the German government to deliver US Patriot missiles destined for Poland to Ukraine instead.

"I have asked Germany to have the proposed Polish Patriot batteries transferred to Ukraine and deployed at the western border," wrote Blaszczak on Twitter Wednesday. 

But Berlin insisted the missiles are only to be deployed within NATO.

Germany had offered Poland, a neighbor and NATO partner, the US-made surface-to-air missile (SAM) defense system after a stray rocket struck a Polish village 6 kilometers (4 miles) from the Ukrainian border last week, killing two people. 

Following Blaszczak's tweet, Berlin said the missiles are strictly intended for Poland, with German Defense Minister Christine Lambrecht emphasizing, "Patriots are part of NATO's integrated air defense, meaning they are intended to be deployed on NATO territory."

"Any use outside NATO territory," said Lambrecht, "would require prior discussions with NATO and the allies."

Morale the key in Kyiv as winter sets in:

The residents of Kyiv taking shelter in their local “invincibility station” were well aware that their own morale has become the central battlefield of the war, and it is not territory they are prepared to concede to Vladimir Putin.

The insulated grey tent set up on a street corner in the Pecherskyi district of Kyiv, one of thousands established around the country this week, was offering electricity, warmth, tea and sandwiches after the latest Russian onslaught.

“It’s like 24 February, when the invasion started, and the beginning of March, when people really came together,” said Maryna Honcharova, who was bundled up in a winter coat in the middle of the tent. If this was Putin’s grand plan for grinding down the will of the people, she added, it had backfired.

“It just makes the anger towards Russia grow stronger. We just curse and hate Russia more.”

“We are Ukrainians. We’re strong and we can get through this,” said Angelina Anatolieva, a 50 year-old Pecherskyi resident. “Do you remember the siege of Leningrad? They lived through that and we can live through this. We can live through anything.”

Weapons industry booms as Eastern Europe arms Ukraine:

Eastern Europe's arms industry is churning out guns, artillery shells and other military supplies at a pace not seen since the Cold War as governments in the region lead efforts to aid Ukraine in its fight against Russia.

Allies have been supplying Kyiv with weapons and military equipment since Russia invaded its neighbour on Feb. 24, depleting their own inventories along the way.

nearly a dozen government and company officials and analysts who spoke to Reuters said the conflict also presented new opportunities for the region's arms industry.

"Taking into account the realities of the ongoing war in Ukraine and the visible attitude of many countries aimed at increased spending in the field of defence budgets, there is a real chance to enter new markets and increase export revenues in the coming years," said Sebastian Chwalek, CEO of Poland's PGZ.

State-owned PGZ controls more than 50 companies making weapons and ammunition - from armoured transporters to unmanned air systems - and holds stakes in dozens more.

Anwar Ibrahim sworn in as New Malaysian PM

Malaysia's veteran opposition leader Anwar Ibrahim (Above left)will be the country's new prime minister, after a turbulent 25 year pursuit for the job that saw him jailed twice.

Promising to give up his salary as PM, he pledged to fight corruption and focus on the economy. The new PM was sworn in by the king on Thursday afternoon.

The appointment ends days of post-election deadlock following inconclusive elections.

It took five days of intense negotiations to reach an agreement on a new government, during which time various combinations of parties and forms of alliances were discussed, and then rejected.

Many of the political leaders have personal and ideological differences which made it hard to find a workable majority.

In the end it was left to Malaysia's constitutional monarch, King Abdullah, to summon all the leaders to the palace to try to find sufficient common ground.

Cristiano Ronaldo scores in fifth World Cup

A laboured contest morphed into a thriller and, cutting through it all, Cristiano Ronaldo managed to own the story. That was hardly a surprise in the circumstances and it was certainly what the crowd, many dressed in Portugal shirts but a vast swathe clearly present to see one man only, demanded.

Their loyalty was rewarded by an emphatically converted penalty that brought a moment in history. Ronaldo became the first male player to score at five different World Cups and, whether you loathe the circus or adore the fanatical drive and egoism that make him such excruciatingly hard work at 37, it is an achievement nobody can brush off.

Pocock digs in on union veto power

The Australian Financial Review - Page 4 : 25 November 2022 - Original article by Phillip Coorey - Portmac.News Summary

Workplace Relations Minister Tony Burke will hold further talks with independent senator David Pocock on Friday regarding the Secure Jobs, Better Pay Bill.

Pocock will push for a number of concessions in return for supporting the bill, including the removal of a provision that enables a single union to veto multi-employer agreements. Burke has already signalled that he is open to Pocock's push for an increase in the employee threshold for small businesses to be exempt from the single-interest multi-employer bargaining stream.

Former Wallaby holds key to IR bill's passage

The Australian - Page 22 : 25 November 2022 - Original article by Robert Gottliebsen - Portmac.News Summary

Independent senator David Pocock may determine the fate of the Secure Jobs, Better Pay Bill.

The federal government is likely to offer 'sweeteners' to Pocock and fellow senators Jacqui Lambie and Pauline Hanson in return for backing the legislation,

However, the three crossbenchers should heed the recent warning from Reserve Bank governor Philip Lowe regarding the potential for a wage-price spiral.

Should the bill in its present form fail to pass the Senate and the current wage moderation is sustained, there is a chance that Australia will avoid the "Painful" and "Disastrous" experience of which Lowe has warned.

However, union pressure on Labor means the government will offer whatever it takes to pass the legislation, and it will worry about the consequences later.

RBA board 'could give up rates lever'

The Australian - Page 4 : 25 November 2022 - Original article by Patrick Commins - Portmac.News Summary

Carolyn Wilkins, Renee Fry-McKibbin and Gordon de Brouwer provided an update on their review of the Reserve Bank of Australia on 24 November.

They hinted that they might recommend that the RBA board's power to set interest rates could be devolved to a specialist monetary policy committee.

Meanwhile de Brouwer said the review had been given feedback that the RBA could do a better job of communication concerning its monetary policy stance and policy decisions.

Coalition eyeing a Greens alliance on integrity commission bill

The Australian - Page 4 : 25 November 2022 - Original article by Rosie Lewis - Portmac.News Summary

The House of Representatives passed legislation to establish the National Anti-Corruption Commission on Thursday.

The federal government used its numbers in the lower house to block amendments put forward by crossbenchers, including removing the "Exceptional circumstances" test for public hearings of the NACC.

This is among the changes that had been sought by independent MP Helen Haines, who says her amendments would have made the NACC stronger and more independent.

Meanwhile, there is speculation that the Coalition and the Greens may join forces to pursue admendments to the bill in the Senate, where the government does not have a majority.

Rare earths gateway to next boom

The Australian - Page 1 & 4 : 25 November 2022 - Original article by Geoff Chambers - Portmac.News Summary

Federal Treasurer Jim Chalmers will tell a critical minerals summit on 25 November that allowing a concentrated global market in rare earths and other critical minerals is not a good idea.

Although Australia is the biggest miner of lithium, the third-largest producer of cobalt and the fourth-largest producer of rare earths, China produces three-quarters of all lithium-ion batteries and makes over half of the world's electric vehicles; in addition, it has 70% of the production capacity for cathodes and 85% for anodes.

Chalmers will say that critical minerals could be the "Opportunity of the century", and one that Australia cannot afford to squander.

Australia can be a global powerhouse, says US ambassador

The Australian - Page 1 & 4 : 25 November 2022 - Original article by Geoff Chambers - Portmac.News Summary

The US ambassador to Australia, JFK's daughter Caroline Kennedy, will tell a a critical minerals summit on 25 November that Australia has the potential to become a world leader in the mining of critical minerals, lithium, rare earths and nickel as part of the transition to clean energy and technology.

In a pre-recorded speech, she will note that a number of Australian companies have already set up operations in the US, where they are supplying carmakers with battery minerals from Australia.

Meanwhile, Resources Minister Madeleine King will tell the summit that Australia's critical minerals and rare earths are central to the global energy transition required to reach net-zero emissions by 2050.

'Not my problem': Nurses Union boss Janet vows to defy orders

The West Australian - Page Online : 25 November 2022 - Original article by Caitlyn Rintoul, Peter Law, Josh Zimmerman - Portmac.News Summary

The Australian Nursing Federation is defying orders by the WA Industrial Relations Commission not to take strike action on 25 November, with the action to result in the cancellation of 14,000 hospital appointments and hundreds of surgical procedures.

The ANF faces fines of up to $10,000 for defying the WAIRC's orders, while it has been summoned to appear before the WAIRC at 9am on 25 November, where the WAIRC may try to convince the ANF to call off its strike at the last minute.

The WAIRC has accused the ANF of bargaining in "Bad faith", but ANF secretary Janet Reah stated that was "Not my problem - that's their problem"

We're nowhere near a recession says Harvey

The Australian Financial Review - Page 15 : 25 November 2022 - Original article by Carrie LaFrenz - Portmac.News Summary

Electronics and furniture retailer Harvey Norman has advised that its same-stores sales rose by 6.3% in the first four months of 2022-23.

The group's Australian franchised stores posted sales growth of 9.1%, or 8.8% on a same-store basis.

Meanwhile, executive chairman Gerry Harvey has downplayed fears of a recession in Australia, noting that the unemployment rate is still very low.

Meanwhile, Harvey Norman will significantly expand its presence in Malaysia; it currently has 28 stores in that country, and aims to increase this to 80 by 2028. Harvey Norman's Malaysian sales rose risen by 44.5% in the four months to 31 October.

EnergyAustralia warns on coal, gas closures

The Australian Financial Review - Page 18 : 25 November 2022 - Original article by Colin Packham - Portmac.News Summary

EnergyAustralia MD Mark Collette has called for the adoption of so-called closure contracts, which aim to ensure that fossil fuel power plants are not closed until sufficient renewable energy capacity is available to replace it.

Collette says that renewable energy generation is not being created at a sufficiently fast place to replace the capacity lost as a result of fossil fuel generators being shut, with AGL Energy's Torrens Island B gas plant in South Australia the latest slated for closure.

It could have been closed as early as 2023, but the SA government has struck a deal with AGL that will see it operating until at least 2026.

Rex calls out airfare price 'gouging'

The Australian Financial Review - Page 3 : 25 November 2022 - Original article by Samantha Hutchinson, Lucas Baird - Portmac.News Summary

Regional Express's deputy chairman John Sharp contends Qantas's domestic fares would suggest it is gouging customers, with Sharpe speaking before Rex's AGM on 24 November.

Sharp contends its fares for a business customer are around half for what Qantas is charging for an economy customer on some of its flights, even though both airlines are using the same planes.

His comments come at a time when domestic air fares are at their highest since September 2007, with the average Melbourne-Sydney flight having risen to $268 in December, up from $172 in September.

Calls for tougher fines after latest Telstra scandal

The New Daily - Page Online : 25 November 2022 - Original article by Matthew Elmas - Portmac.News Summary

Australian Communications Action Network CEO Andrew Williams says the nation's telecommunications companies should face larger financial penalties for breaking consumer protection laws.

He also wants a review of the telecommunications consumer protection code in 2023 to result in greater powers for industry regulators.

The telco sector has come under scrutiny following the latest regulatory action against Telstra.

The Australian Communications & Media Authority found that Telstra had penalised 70 customers between August 2019 and April 2022 for failing to pay their bills, despite the fact that they had financial hardship arrangements. 

Responsible Wagering Australia on verge of collapse

The Australian - Page Online : 25 November 2022 - Original article by Jared Lynch - Portmac.News Summary

Justin Madden has quit as CEO of Responsible Wagering Australia, which represents bookmaking companies such as Sportsbet, Unibet and Entain, while other senior executives are said to be considering their future.

RWA's members have appointed an external consultation to run the organisation and to undertake a review of its operations.

RWA chairman Nick Minchin says it understands that the community's view of gambling was evolving, and that the review was an opportunity to ensure that the RWA operates in a manner that continues its leadership "In the advocacy for consumer protection and responsibility".

Big guns lead Seven to more ratings glory

The Australian - Page 8 : 25 November 2022 - Original article by James Madden - Portmac.News Summary

Data from OzTAM shows that the Seven Network will end the official television ratings year with a 40.7% national audience share, ahead of Nine with a 37.2% share of 'Total people'.

Seven has now topped the ratings for a second consecutive year, and Seven West Media CEO James Warburton notes that it has been the highest-rating free-to-air network for 14 out of the last 16 years.

The Nine Network's director of programming Hamish Turner in turn emphasises that that it has won the key 25-54 age demographic, which is preferred by advertisers.

Major investor opposes News Corp-Fox merger, pushes for break-up

The Australian - Page 20 : 25 November 2022 - Original article by Alex Frangos - Portmac.News Summary

London-based investment firm Independent Franchise Partners has stakes in both News Corp and Fox Corp.

The firm believes that Rupert Murdoch's proposal to reunify the two companies should not proceed unless the deal ensures that News Corp's shares are valued at more than $US30; at present the media's stock is trading at around $US18 per share.

IFP contends that divesting some of News Corp's assets - including its online real-estate businesses - would be the best way of achieving this valuation.

Irenic Capital has also advocated spinning off the digital real estate assets, as well as Dow Jones.

ARIAs 2022: Historic night for Indigenous artists

The Age - Page Online : 25 November 2022 - Original article by Robert Moran, Angus Thompson - Portmac.News Summary

Baker Boy has become the first Indigenous Australian to win Album of the Year at the ARIA awards in its 35-year history, with his award for 'Gela' one of five that he took out at the 2022 ARIAs.

The awards were dominated by Indigenous artists, with other winners including King Stingray for the Michael Gudinski breakthrough artist award, Kid Laroi for best pop release, and Budjerah for best soul/R&B release, while the late Archie Roach won best independent release for 'One Song'

Hope Downs row: Gina Rinehart asks for delay

The West Australian - Page Online : 25 November 2022 - Original article by Neale Prior - Portmac.News Summary

Lawyers for mining magnate Gina Rinehart have asked that Supreme Court claims over her Hope Downs iron ore mines be delayed until federal arbitration involving her and her two oldest children, Bianca Rinehart and John Hancock, is settled.

The arbitration is being heard by a panel led by former WA Chief Justice Wayne Martin, and was due to be handed down in the first quarter of 2023, but this is now unlikely.

The Supreme Court case involves Wright Prospecting, DFD Rhodes and Bianca Rinehart and Hancock, and is due to begin in June. Gina Rinehart's lawyers want that case to be postponed until the final quarter of 2024.

Clough engineering group carrying $103m in losses

The Australian Financial Review - Page 17 : 25 November 2022 - Original article by Jenny Wiggins - Portmac.News Summary

Engineering group Clough is being sold by its South African parent company Murray & Roberts to Italian contractor Webuild for just $500,000 in cash in a deal that was announced in early November.

Murray & Roberts has indicated Clough is carrying losses of $103 million, and would have to be placed into administration if the deal with Webuild had not been struck, while Murray & Roberts may have suffered the same fate.

Clough and Webuild have worked together on a number of projects in Australia, including the $6 billion Snowy 2.0 hydropower project and the $14 billion Inland Rail project

ASX Sharp rise in gold stocks lifts bourse

The Australian - Page 21 : 24 November 2022 - Original article by Matt Bell - Portmac.News Summary

The Australian sharemarket posted a small gain on 24 November, with the S&P/ASX 200 adding 0.1% to close at 7,241.8 points.

St Barbara rose 9.1% to $0.66, Kogan was up 7.8% at $3.70 and WiseTech finished 2.6% higher at $55.23.

However, Westpac shed 0.9% to end the session at $23.87 and Harvey Norman was down 1.4% at $4.17.