Latest updates on Key Economic Indicators

Australian Dollar: $0.7669 USD (down $0.0035 USD)

Iron Ore Feb Spot Price (SGX): $161.40 USD (up $5.33 USD)

Oil Price (WTI): $47.50 USD (down $1.02 USD)

Gold Price: $1,942.49 (up $43.89 USD)

Dow Jones: 30,066.33 at 3.05pm NY time (down 540.15 on 31 December close)

All changes compared to 7am yesterday.

England to go into lockdown as Britain records more than 58,000 daily COVID-19 cases

British Prime Minister Boris Johnson has announced a new national lockdown for England until at least mid-February to combat a fast-spreading new strain of coronavirus.

Mr Johnson said the country was at "a critical moment", with cases rising rapidly in every part of the country.

Under the new rules, which are set to come into effect from midnight, primary and secondary schools and colleges will be closed for face-to-face learning, except for the children of key workers.

University students will not return for classes until at least mid-February.

People were told to work from home unless it was impossible to do so, and to only leave home for essential trips.

All non-essential shops and personal care services such as hairdressers will be closed, and restaurants will only be able to provide takeaway services.

The announcement came as the nation once again hit a daily high of coronavirus cases.

The new record number of cases was 58,784 on Monday, with a further 407 deaths of people within 28 days of a positive COVID-19 test, taking the nation's death toll to more than 75,500 — the world's sixth highest — according to official Government figures.

Vics reluctant to open border despite low case numbers

The Australian Financial Review - Page 4 : 5 January 2021 - Original article by Hannah Wootton - PortMac.News Summary

Victoria recorded just three new locally transmitted COVID-19 cases on 4 January, but Acting Premier Jacinta Allan said it was too soon to consider easing border restrictions with New South Wales.

She said health authorities were still too worried about the situation in NSW and the continued spread of the Berala cluster to look at easing restrictions.

Waiting times at one testing centre in Melbourne were as long as 4.5 hours, although Allan said that testing capacity was being increased.

The Victorian government has agreed to allow agriculture workers to travel between Victoria and NSW under the same exemptions that apply to the freight industry.

States clash on limits as expat infections rise

The Australian Financial Review - Page 4 : 5 January 2021 - Original article by Finbar O'Mallon - PortMac.News Summary

New South Wales reported two new cases of locally acquired COVID-19 cases on 4 January, with both cases believed to be linked to the Berala bottle shop cluster.

NSW had recorded no cases in the 24 hours to 8pm on 3 January, with the two cases discovered after the reporting period, while seven new cases were found in returned travellers in NSW quarantine hotels.

Western Australian Premier Mark McGowan and acting NSW Premier John Barilaro have clashed over the issue of hotel quarantine limits, while NSW Chief Health Officer Kerry Chant said that the state was seeing more virus infections in returned travellers.

Deliveroo safety reps elected in 'milestone'

The Australian Financial Review - Page 3 : 5 January 2021 - Original article by David Marin-Guzman - PortMac.News Summary

Riders from food delivery company Deliveroo in Sydney recently elected seven health and safety representatives (HSRs) from among their ranks.

It represents the first election of HSRs in the Australian gig economy, with the HSRs having various powers, such as being able to issue emergency stop work directions, while Deliveroo will pay them for their time when they are involved in tackling safety issues.

The Transport Workers' Union has described the election of the seven HSRs as a milestone for the gig economy, while Deliveroo has urged riders with any safety concerns to contact their HSR.

Right visa settings key for boom in projects

The Australian Financial Review - Page 9 : 5 January 2021 - Original article by Martin Newman - PortMac.News Summary

Infrastructure Partnerships Australia CEO Adrian Dwyer contends that infrastructure projects will be the key to the Australian economy's post-pandemic recovery.

He notes that governments are injecting almost $5 billion of infrastructure spending into the economy every month, while he says having enough skilled workers for infrastructure projects will involve a combination of good training and suitable visa settings as international borders reopen.

It is believed there are enough skilled workers for projects between $50 million to $500 million, but there is concern that multibillion-dollar projects will struggle to find enough staff.

Space tech flipped to find fires, fast

The Australian Financial Review - Page 8 : 5 January 2021 - Original article by Tom Burton - PortMac.News Summary

Australian space intelligence company Fireball International is using technology originally used to look at supernova explosions to locate bushfires within minutes.

CEO and founder Christopher Tylor notes research has found it takes around 30 minutes for bushfires to be reported using traditional reporting methods, and then up to 40 minutes for a response to be instigated.

He says Fireball detects 100 per cent of bushfires within 10 minutes, while CSIRO research indicates fire areas can grow by 300% within two hours of starting.

Fireball has secured a number of US western state contracts to monitor about 50 million hectares for wildfires

Australia's national interest must be weighed when deporting refugees, court tells government

The Guardian - Page Online : 5 January 2021 - Original article by Paul Karp - PortMac.News Summary

The Federal Court recently set aside then-acting immigration minister Alan Tudge's decision to deny an Afghan man a Safe Haven Enterprise Visa on character ground.

The man had failed a character test as a result of having been convicted of sex offences against children, and Tudge had refused to grant him a visa despite being aware of the risk that he could be killed by the Taliban in Afghanistan.

In setting aside Tudge's decision, the Court argued he had failed to take into account the full consequences of Australia breaching its international non-refoulement obligations.

Retirees' franking credits now safe as unfair policy ditched

The Australian - Page Online : 5 January 2021 - Original article by Robert Gottliebsen - PortMac.News Summary

Anthony Albanese has announced Labor will not make alterations to franking credits if it wins the next election, and it is unlikely that the Coalition government will do so.

When then shadow treasurer Chris Bowen announced in 2018 that Labor would make changes to franking credits with a view to raising $6 billion if it won the 2019 election, the shadow cabinet no doubt thought they were attacking the rich.

However, analysis of the policy revealed that it would most impact the 'retired poor'. An extensive campaign was mounted against the policy, and Labor went on to lose what many had considered was an 'unlosable' election.

ASX makes best start in 20 years

The Australian Financial Review - Page Online : 5 January 2021 - Original article by William McInnes = PortMac.News Summary

The Australian sharemarket recorded its best start to a year's trading since 2001 on 4 January, with the S&P/ASX 200 rising 97.1 points to close at 6684.2 points.

Fortescue Metals rose 5.9%t to a new record of $24.80, while fellow miners BHP Group and Rio Tinto rose 1.5% and 1.3% respectively.

The big four banks all rose, while Wesfarmers rose 2.2% to $51.51 and Telstra closed up one per cent at $3.01.

Retail rent wars to resume as online sales soar

The Australian Financial Review - Page Online : 5 January 2021 - Original article by Sue Mitchell - PortMac.News Summary

Retailers are calling for more flexible lease arrangements, but landlords are responding with demands that rents include a proportion of online sales.

Landlords are arguing having a 'bricks and mortar' presence helps retailers generate sales from their e-commerce sites, while they contend an increasing portion of online sales are collected or fulfilled from physical stores.

Australian Retailers Association chief executive Paul Zahra says no large retailer would agree to such a demand, but he says smaller retailers may lack the power and resources to do so.

The year regional housing turned property on its head

The Australian Financial Review - Page Online : 5 January 2021 - Original article by Michael Bleby - PortMac.News Summary

Regional property values rose by 6.9 per cent in the 12 months to December, according to figures released by CoreLogic on 4 January.

Property values for the combined capital cities rose by just two per cent, and it was the first time in almost 15 years that regional values had risen at a greater rate than metropolitan values, as the pandemic saw urban residents move to rural areas for more space and greater safety.

The number of transactions in 2020 was up nine per cent on 2019, although the volume of listings was down 21%.

Wuhan biological weapons lab 'leaked the virus'

The Australian - Page Online : 5 January 2021 - Original article by Didi Tang - PortMac.News Summary

US Deputy National Security Adviser Matthew Pottinger claims there is strong evidence that the coronavirus was leaked from the Wuhan Institute of Virology rather than developing in a Wuhan livestock 'wet market'.

The Institute is located 17 kilometres from the Wuhan market, with Wuhan reporting the first COVID-19 cases in December.

Pottinger was speaking on the eve of a visit by World Health Organisation experts to China to investigate the source of the coronavirus, although some claim the investigation will be a "whitewash".

A majority of scientists are of the view that coronavirus originated in nature.