Latest updates on Key Economic Indicators

Australian Dollar: $0.7362 USD (down $0.0008 USD)

Iron Ore Dec Spot Price (SGX): $126.75 USD (up $2.07 USD)

Oil Price (WTI): $44.99 USD (down $0.64 USD)

Gold Price: $1,810.33 (up $3.46 USD)

Dow Jones: 29,872.47 (unchanged - public holiday)

All changes compared to 7am yesterday.

AstraZeneca hopes the world can focus on its positive vaccine news.

When the British-Swedish drugmaker AstraZeneca announced on Monday that its experimental coronavirus vaccine is 70% effective on average, the world exhaled a collective sigh of relief and stocks rallied. Another vaccine with promising results had arrived.

But a lack of clarity surrounding several aspects of the data from the AstraZeneca vaccine trials have raised some eyebrows in the scientific community, potentially setting back the timing for the vaccine to be authorized in Europe and the US.

AstraZeneca said on Monday that study participants in the UK had been given two different courses of the vaccine.

The drugmaker, which developed the vaccine with the University of Oxford, did not however, at the time, explain why they used two different dosing regimens or why the size of one group was significantly smaller than the other.

In one group, 2,741 participants received a half-dose of the vaccine and then a full dose at least a month later. This group was 90% protected against Covid-19.

In the second group, 8,895 participants received a full dose followed by another full dose at least a month later. This group was only 62% protected.

But some scientists are questioning why the company would report on a pooled result of two different trials, as it deviates from standard reporting on clinical trials.

And in the days following that announcement, another point of confusion has emerged.

On Tuesday, Mene Pangalos, AstraZeneca's Executive Vice President who heads up non-oncology research and development, first explained to Reuters that a lab error was the reason why some volunteers had received a smaller dose -- the dose that proved to be 90% effective.

"The reason we had the half dose is serendipity," Pangalos said, adding that researchers had "underpredicted the dose of the vaccine by half."

Speaking to the Wall Street Journal on Wednesday, Menelas Pangalos AstraZeneca's Executive Vice-President said, "The mistake is actually irrelevant.

"Whichever way you cut the data -- even if you only believe the full-dose, full-dose data... We still have efficacy that meets the thresholds for approval with a vaccine that's over 60% effective," Pangalos said, according to the WSJ.

Thais that bind: secret mission ends Aussie's torment

The Australian - Page 1 & 11 : 27 November 2020 - Original article by Ben Packham, Richard Ferguson - PortMac.News Summary

It has been revealed that Australia's director-general of national intelligence Nick Warner led a secret, year-long effort to secure the release of Melbourne University lecturer Kylie Moore-Gilbert after she had spent over 800 days in Iranian jails.

Moore-Gilbert was released in a prisoner swap deal that involved Thailand releasing three Iranian terrorists; Moore-Gilbert had been serving a 10-year sentence on trumped-up espionage charges.

Warner had been Australia's ambassador in Iran during the mid-1990s and used his connections in Iran to help secure her release. Australia's ambassador to Thailand, Allan McKinnon, lobbied that nation's authorities to release the three Iranian terrorists.

(See full story today on PortMac.News)

SAS soldiers sacked in rapid Defence strike

The Australian - Page 1 & 2 : 27 November 2020 - Original article by Ben Packham - PortMac.News Summary

A Department of Defence spokeswoman has confirmed that a number of Special Air Service Regiment soldiers have been issued with 'show cause' notices as to why they should not be sacked.

At least 10 SAS soldiers are understood to have received such notices, although it is not clear if any of them are among the 19 SAS soldiers who will be investigated over alleged war crimes in Afghanistan or if they were accessories to the alleged crimes.

New South Wales Supreme Court judge Paul Brereton had found "credible evidence" that as many as 25 special forces soldiers were involved in the alleged killing of 39 Afghan civilians and prisoners.

Adelaide pizza bar linked to new infection

The Australian Financial Review - Page 9 : 27 November 2020 - Original article by Simon Evans - PortMac.News Summary

South Australia has recorded two new coronavirus cases.

The number of cases in the Parafield cluster has risen to 31 after it was revealed that a Woodville High School student who tested positive for COVID-19 had visited the pizza store which had prompted a brief state-wide lockdown.

The student visited the Woodville Pizza Bar on 14 November, and Woodville High School has now been closed for deep cleaning.

Meanwhile, the state government will introduce a QR codescanning system for hospitality venues and other businesses on 1 December.

There are 36 active COVID-19 cases in the state.

NSW advised to relocate quarantine away from CBD

The Australian Financial Review - Page 9 : 27 November 2020 - Original article by Finbar O'Mallon - PortMac.News Summary

University of New South Wales epidemiologist Mary-Louise McLaws says returned travellers should be quarantined at a dedicated facility outside of Sydney rather than at hotels in the CBD.

Professor McLaws has suggested that the Christmas Island Detention Centre could be one option, adding that older military bases would probably be best.

Premier Gladys Berejiklian has also urged other states to quarantine more returned travellers, arguing that NSW is taking the bulk of them.

Tourism operators chase staff to deal with rush on Qld border

The Australian Financial Review - Page 10 : 27 November 2020 - Original article by Mark Ludlow - PortMac.News Summary

Direct flights from Sydney and Melbourne to North Queensland's Hamilton Island will resume in the week beginning 30 November, with the Queensland border to re-open to the two cities on 1st of December.

Hamilton Island CEO Glenn Bourke says he is thrilled about the border reopening, but he needs to find about additional 200 employees to operate the popular tourist destination.

Queensland Tourism Industry Council CEO Daniel Gschwind says staff shortages are likely to be a problem for a while, with 200,000 working holiday visas gone since the commencement of the COVID-19 pandemic.

High Court to hear casual 'double dipping' case

The Australian Financial Review - Page Online : 27 November 2020 - Original article by David Marin-Guzman - PortMac.News Summary

The High Court of Australia has granted special leave to appeal the WorkPac v Rossato casual labour 'double dipping' case.

The Federal Court had ruled that casual employees who worked regular and predictable shifts were entitled to entitlements normally enjoyed only by permanent workers, such as paid annual leave, despite the 25 per cent loading for casual labour.

Attorney-General Christian Porter has claimed that the case could impose a backpay burden on employers of up to $38 billion.

No jail for Jackson in $100,000 fraud

The Australian Financial Review - Page 7 : 27 November 2020 - Original article by David Marin-Guzman - PortMac.News Summary

The Health Services Union's former national secretary Kathy Jackson has avoided jail despite having defrauded it of more than $100,000.

Jackson was given a two-year jail sentence by the Victorian County Court on 26th of November, but the sentence was suspended for two and a half years because she had pleaded guilty to some of the charges.

Justice Amanda Fox told Jackson that she would have been jailed for 3.5 years had she not pleaded guilty.

Justice Fox also told Jackson that she may have to serve the entire sentence in jail if she is convicted of another serious offence.

Cyber security promoted to cabinet in rejig

The Australian - Page 4 : 27 November 2020 - Original article by Simon Benson, Geoff Chambers - PortMac.News Summary

The Department of Home Affairs will have an expanded role with regard to cyber security as part of a ministerial reshuffle in December.

Home Affairs already has oversight of cyber security legislation and the roll out of the federal government's Cyber Security Strategy.

The move to elevate cyber security to cabinet status has coincided with an increase in cyber attacks on critical infrastructure in Australia.

The government also proposes to expand the definition of 'critical infrastructure­', which is currently limited to the electricity, gas, water and maritime sectors.

Water row: minister tells the states to 'get on with it'

The Australian - Page 2 : 27 November 2020 - Original article by Olivia Caisley - PortMac.News Summary

Federal Water Minister Keith Pitt is refusing to give Victoria and New South Wales an extension on the timeframe for the delivery of water-saving projects under the Murray-Darling Basin Plan.

Eight of the projects that New South Wales is involved with are at risk of delay, as are three of the projects in which Victoria is involved.

The current deadline for delivering on the projects is 2024, and Pitt says there is $4 billion in funding "on the table" to get them completed.

New $16m deal signed to boost recycling modernisation

The Australian Financial Review - Page Online : 27 November 2020 - Original article by Tom McIlroy - PortMac.News Summary

Federal Environment Minister Sussan Ley has announced that the Tasmanian recycling industry will receive a $16 million boost under an agreement between the industry and the federal and Tasmanian governments.

Ley says the industry will be required to make new products from recycled waste under the agreement, while Tasmanian Environment and Parks Minister Roger Jaensch says the agreement represents a significant boost to the Tasmanian resources recovery industry.

The announcement of the $16 million deal follows Ley's recent announcement that 2021 will see a big push to reduce waste from building and demolition projects, along with urging Australians to discard fewer textiles.

Chinese fishing plant in Torres Strait raises alarm for Australian industry and islanders

The Guardian - Page Online : 27 November 2020 - Original article by Aaron Smith - PortMac.News Summary

China's Ministry of Commerce recently announced plans to construct a $200 million fishing plant on Daru Island in Papua New Guinea's Western Province.

This follows the signing of a memorandum of understanding between Fujian Zhonghong Fishery Company, the PNG Fisheries Minister and the governor of Western Province.

There are concerns the deal could see PNG-flagged fishing vessels backed by Chinese funding fish legally in the Torres Strait under the Torres Strait Treaty between Australia and PNG.

PNG has previously not had the capacity to commercially fish its share of quotas allowed under the Treaty, but that could now change.

Federal MP Warren Entsch says the "biggest losers" from the deal will be the treaty villages of PNG's Western Province, as there may no longer be any fish for them to catch for their families.

Logging in NSW bushfire-hit coastal regions to be reviewed after stand-off between industry and EPA

The Guardian Australia - Page Online : 27 November 2020 - Original article by Lisa Cox - PortMac.News Summary

The New South Wales government is believed to be planning a review of logging in bushfire-hit coastal regions, with the review likely to be conducted by the Natural Resources Commission.

The review comes at a time of increased tension between the NSW Environment Protection Authority and the state-owned Forestry Corporation, with the EPA having imposed stricter rules for logging operations covered by the coastal integrated forestry operations approval (IFOA).

The EPA has issued a number of stop-work orders against the Commission for breaches of its licence in bushfire-hit forests on the south and north coasts. Independent MP Justin Field says he would welcome such a review, while he would like to see a move away from public native forestry to plantations and private land forestry.

Bourse snaps its winning streak

The Australian - Page 27 : 27 November 2020 - Original article by Lachlan Moffet Gray - PortMac.News Summary

The Australian sharemarket retreated on 26 November, with the S&P/ASX 200 easing 0.7 per cent to close at 6,636.3 points.

Rio Tinto shed 1.36 per cent to end the session at $102.86, Santos was down 2.3 per cent at $6.38 and National Australia Bank finished 2.37 per cent lower at $23.48. However, Harvey Norman was up 5.46 per cent at $4.83 and Gold Road Resources added 5.17 per cent to close at $1.22.

Bears caught short by a flood of cheap money

The Australian - Page 27 : 27 November 2020 - Original article by Robert Gottliebsen - PortMac.News Summary

Incorrect assumptions about China is one of the reasons Australian bear investors have struggled in 2020.

They thought China would decline because of its high initial COVID-19 infection rate and its reliance on export markets, which would hurt Australia.

However, China has done a sterling job of controlling the virus, and Australia has benefited.

Bear investors have also been hurt because central banks and governments have flooded economies with money to help offset the impact of COVID-19, and part of the result of this has been to boost asset prices.

Bega cooks up Aussie food champ

The Australian Financial Review - Page 1 & 28 : 27 November 2020 - Original article by Simon Evans - PortMac.News Summary

Bega Cheese's executive chairman Barry Irvin expects to achieve synergies of about $41m soon after the deal to acquire Lion Dairy & Drinks from Kirin Holdings is completed in early 2021.

Bega will raise $401m from investors to partially finance the $534m deal, with new shares to be offered at $4.60 apiece.

The acquisition will add milk and yoghurt brands such as Pura, Dairy Farmers and Yoplait to Bega's portfolio, which includes non-dairy products such as Vegemite and peanut butter.

The federal government blocked the sale of Lion to China Mengniu Dairy in August, deeming that the $600m deal was not in the national interest.

Quotas plan 'for survival of broadcasters'

The Australian - Page 8 : 27 November 2020 - Original article by Richard Ferguson, Geoff Chambers - PortMac.News Summary

The federal government will release a green paper on media industry reform on 27th of November.

Amongst other things, the reforms would introduce local content quotas for subscription video-on-demand providers, as well as the ABC and SBS.

TV networks would also be offered a new broadcasting licence that has less regulation, in return for surrendering some of their frequency spectrum.

This spectrum would then be auctioned, with the proceeds used for two new funds that will help to finance locally-produced news and drama content.

'Lowball Village bid dishonours legacy'

The Australian - Page 19 : 27 November 2020 - Original article by Ben Wilmot - PortMac.News Summary

Mittleman Investment Management recently increased its stake in takeover target Village Roadshow from 14.34 per cent to 15.1 per cent.

The US investment adviser is of the view that BGH Capital's revised offer still significantly undervalues Village Roadshow, contending that it does not reflect the likely earnings boost as consumers return to its cinemas and theme parks in the post-coronavirus environment.

Village Roadshow's independent directors have endorsed BGH's bid.

Lendlease veteran to lead Stockland

The Australian - Page 19 : 27 November 2020 - Original article by Ben Wilmot - PortMac.News Summary

Residential property developer Stockland has advised that Tarun Gupta will succeed CEO Mark Steinert in June.

Stockland considered both internal and external candidates for the role, and chairman Tom Pockett says Gupta's significant experience across the property sector was a key factor in his selection.

Gupta has worked at rival developer Lend Lease for 26 years, and is currently group CFO.

Michael Vincent of Jefferies says Stockland may reduce its exposure to the retirement communities sector under Gupta, a strategy that he pursued at Lend Lease.

Gore jailed for defrauding super investors

The Australian - Page 19 : 27 November 2020 - Original article by Blake Antrobus, Ben Wilmot - PortMac.News Summary

Former Queensland property developer Craig Gore has been sentenced to five years' jail with a non-parole period of two years.

He had previously been found guilty of six charges of fraud in relation to a debenture scheme that saw superannuation investors lose $345,000. Gore had an estimated fortune of $183 million prior to the global financial crisis.

However, he filed for bankruptcy nearly 10 years ago, citing debts of $282.9 million.