Latest updates on Key Economic Indicators

Australian Dollar: $0.7950 USD (up $0.0030 USD)

Iron Ore Mar Spot Price (SGX): $170.05 USD (up $4.00 USD)

Oil Price (WTI): $63.14 USD (up $1.05 USD)

Gold Price: $1,799.51 (down $6.08 USD)

Bitcoin: $48,870.09 USD (up 4.26% in last 24 hours)

Dow Jones: 31,964.00 at 3.05pm NY time (up 330.03 points on yesterday's close)

All changes compared to 7am yesterday.

'Top Secret' Saudi documents show Khashoggi assassins used Saudi crown prince planes

The two private jets used by a Saudi Arabian assassination squad that killed and allegedly dismembered journalist Jamal Khashoggi were owned by a company controlled by Saudi crown prince Mohammed bin Salman, according to recently filed court documents.

The documents, filed as part of a Canadian civil lawsuit earlier this year, are labelled "Top Secret" and signed by a Saudi minister who relayed the orders of the crown prince, the young de facto ruler of Saudi Arabia.

"According to the instruction of His Highness the Crown Prince," the minister wrote according to a translation, "Immediately approve the completion of the necessary procedures for this."

The filing lays out how ownership of Sky Prime Aviation was ordered to be transferred into the country's $400 billion sovereign wealth fund in late 2017. The company's planes were later used in the October 2018 killing of Khashoggi.

The Kingdom's sovereign wealth fund, known as the Public Investment Fund, is controlled by the Saudi crown and is chaired by the crown prince, who is known as MBS. 

Brisbane 'Preferred host' for 2032 Summer Olympic Games

The International Olympic Committee's (IOC) Future Host Summer Commission has designated Brisbane as the "preferred candidate city" to host the 2032 Summer Olympic Games, a decision endorsed unanimously by the IOC's executive board.

The news was delivered by IOC president Thomas Bach during a press conference in Switzerland.

"We have unanimously after a very intense discussion approved this recommendation," Mr Bach said.

(See main PortMac.News story today for details)

Winter influenza deaths fell to just two

The Australian - Page 7 : 25 February 2021 - Original article by Stephen Lunn - PortMac.News Summary

Data from the Australian Bureau of Statistics shows that 126,974 certified deaths were recorded nationwide between January 1 and November 24.

There were 42 deaths from influenza during this period, although all but two occured before 22 April.

Australian Medical Association president Omar Khorshid attributes this to factors such as a record level of influenza vaccinations, plus social distancing and improved hygiene practices as a result of COVID-19.

He adds that these lessons must be heeded in the post-pandemic environment.

$90b French subs project could sink

The Australian Financial Review - Page 1 & 8 : 25 February 2021 - Original article by Andrew Tillett - PortMac.News Summary

The federal government will review the controversial contract for Naval Group to build a new fleet of submarines.

Several senior naval officers have been appointed to consider options regarding the $90bn submarines contract, which could potentially include terminating it and buying submarines from Sweden-based Saab Kockums.

Meanwhile, the future of Defence Minister Linda Reynolds in the portfolio is uncertain after she was admitted to hospital with a pre-existing medical condition.

'Jobdobber' hotline may lead to bogus claims

The Guardian Australia - Page Online : 25 February 2021 - Original article by Luke Henriques-Gomes - PortMac.News Summary

Australian Retailers Association CEO Paul Zahra has some concerns about the federal government's latest crackdown on JobSeeker recipients.

He says mutual obligation requirements need to be "fair and measured", and warns that the proposed hotline for employers to report people who are offered a job but refuse to take it could have unintended consequences.

The Australian Chamber of Commerce & Industry has expressed support for the hotline, but acting CEO Jenny Lambert says the focus should be on helping unemployed people to get work rather than increasing the punitive elements of the program.

Stocks slump as Appen tumbles

The Australian - Page 23 : 25 February 2021 - Original article by Rebecca Le May - PortMac.News Summary

The Australian sharemarket lost ground on 24 February, with the S&P/ASX 200 easing 0.9% to close at 6,777.8 points.

Appen shed more than 12% to end the session at $17.81, Scentre Group was down 1.05%t at $2.84 and Mosaic Brands was 16.33% lower at $0.82.

However, Woolworths got it's 'Woolies Worth' & rose 1.05% to finish at $39.50.

Google deal key to the future, says Nine CEO

The Australian Financial Review - Page 17 : 25 February 2021 - Original article by Miranda Ward - PortMac.News Summary

Nine Entertainment Company has posted a net profit of $186.9m for the first half of 2020-21, which is 64% higher than previously.

EBITDA rose by 42% to $355m, although revenue was down 2% at $1.2bn.

CEO Hugh Marks says deals with digital giants Google and Facebook will ensure the viability of Nine's publishing business and ensure that it returns to revenue growth.

Four people are said to be in contention to succeed Marks, including internal candidates Mike Sneesby and Chris Jansz.

'We haven't given ground to Facebook': Sims

The Australian - Page 2 : 25 February 2021 - Original article by David Swan - PortMac.News Summary

Legislation to enact the federal government's media bargaining code was passed by the Senate on 24 February.

Australian Competition & Consumer Commission chairman Rod Sims rejects suggestions that last-minute amendments to the code will undermine it and constitute a backdown by the government.

Sims has also downplayed concerns that smaller news publishers will not be able to strike deals with Facebook and Google.

Facebook over-enforced Australia news ban, admits Nick Clegg

The Guardian - Page Online : 25 February 2021 - Original article by Archie Bland - PortMac.News Summary

Facebook executive Nick Clegg says Facebook had been forced into blocking Australian news content, as the federal government refused to back down over its proposed media bargaining code.

He adds that the decision to remove non-news content from its platform was not taken lightly.

Britain's former deputy prime minister adds that Facebook had "erred on the side of over-enforcement" when imposing its now-repealed ban on Australian news content, which also resulted in the removal of the Facebook pages of government agencies and community organisations.

Fortescue's 'Deep regret' amid new indigenous heritage bungle

The Australian Financial Review - Page Online : 25 February 2021 - Original article by Peter Ker - PortMac.News Summary

Fortescue Metals Group CEO Elizabeth Gaines has apologised for an oversight which allowed work at a culturally significant site in the Pilbara to proceed without indigenous elders being present.

The Western Australian government approved Fortescue's plans to clear the Weelamurra Creek site, on the condition that at least two members of the Eastern Guruma people were present.

Fortescue was scheduled to undertake the disturbance works on 22 February, but an 'administrative error' resulted in the work being carried out on 1 February.

Anti-vaxxers wage WA poll crusade

The Australian - Page 1 & 7 : 25 February 2021 - Original article by Victoria Laurie, Chris Griffith - PortMac.News Summary

The COVID-19 vaccine rollout is set to be an issue in Western Australia's upcoming state election.

The No Mandatory Vaccination party will field candidates in every seat at the 13 March poll; party leader Cam Tinley says vaccination is not necessary and people cannot be forced to get the coronavirus jab.

Tinley was a candidate for the Micro Business Party at the 2017 state election.

Vaccination policy expert Katie Attwell is concerned that anti-vaxxers will spread misinformation about the vaccine rollout during the election campaign.

Woolworths calls last drinks

The Australian - Page 17 : 25 February 2021 - Original article by Eli Greenblat - PortMac.News Summary

Woolworths has booked a 2020-21 interim net profit of $1.135bn, which is 28% higher than previously.

Group revenue was up 10.6% at $35.845bn, while its core Australian supermarkets division's sales rose 10.6% to $23.449bn.

CEO Brad Banducci anticipates lower sales between March and June compared with the same period in 2020, which was boosted by pandemic-induced panic buying.

Meanwhile, Woolworths is aiming to demerge the Endeavour Group liquor stores and hotels business in June.