Latest updates on Key Economic Indicators

Australian Dollar: $0.7750 USD (down $0.0040 USD)

Iron Ore Apr Spot Price (SGX): $159.80 USD (down $5.10 USD

Oil Price (WTI): $65.61 USD (down $0.45 USD)

Gold Price (15 Mar): $1,728.15 (up $4.97 USD)

Gold Price (12 Mar): $1,723.18 (down $0.11 USD)

Bitcoin: $59,868.67 USD (down 0.74% in last 24 hours)

Dow Jones: 32,778.64 at 5 pm Friday NY close time (up 293.05 points on Thursday's close)

All changes compared to 7am Friday, except gold.

Leaders won't attend women's March 4 Justice

Deputy Prime Minister Michael McCormack won't attend a public march on Monday planned to demand action on violence against women at Parliament House, following a month of accusations that it harbours a toxic workplace.

Mr McCormack was asked why he couldn't take 10 minutes to speak with the women and men expected to descend on the nation's capital today.

"No, I have meetings all day," Mr McCormack told David Speers.

"Look, at the end of the day, we want Parliament to be a place which is a fit and proper workplace, and I know that indeed in my office I've said that to my staff, I've made sure that they know all the proper processes and protocols.

"If there are issues that people feel that they are not being supported in and there are issues that indeed are very grave, then they should be dealt with by the proper authorities, so department in cases of harassment and the police if the matters are more serious than that."

ScoMo plans blitz in WA after Liberals' election loss

The Australian - Page 1 & 4 : 15 March 2021 - Original article by Geoff Chambers, Paul Garvey, Greg Brown - PortMac.News Summary

Prime Minister Scott Morrison says Labor's landslide win in the Western Australian election is a 'Resounding endorsement' of Premier Mark McGowan's leadership.

However, Morrison does not believe that the Liberal Party's rout in WA has any implications for the federal government, arguing that electors understand the difference between federal and state politics.

The federal government is believed to have ruled out any intervention in its troubled WA branch, which may lose its party status in the wake of the election.

Labor is expected to win 52 seats in the state's 59-seat lower house, while the Liberals may win three and the Nationals may win four.

Another 20 people murdered in Myanmar protests

Security forces have killed scores of protesters in a poor, industrial suburb of Myanmar's main city, and at least three people in other parts of the country, according to local media.

State television said a policeman had also been killed in one of the bloodiest days of protests against the February 1 coup.

Protests are now in their sixth week since the coup toppled elected leader Aung San Suu Kyi and plunged the South-East Asian country into turmoil, with the economy paralysed by strikes by opponents of the army takeover.

Security forces opened fire on protesters in the Hlaingthaya district of Yangon, a poor suburb that is home to migrants from across the country, domestic media said. Plumes of black smoke rose over the area.

Myanmar Now said at least 14 protesters had been killed, according to the local hospital and a rescue worker.

"An official from Hlaingthaya Hospital said the death toll and wounded were still arriving," its report said.

Other Myanmar media gave even higher tolls in the area.

State television MRTV said martial law had been imposed in the district.

North Korean leader Kim Jong Un's health in question

As the United States is about to deploy its diplomatic and military heft to the Korean peninsula to re-set relations after fours years of Donald Trump,  Kim Jong Un's health is becoming an issue.

Although meetings with North Korea's leader Kim Jong Un will not form part of the itinerary, his metaphorical shadow looms large over the trip as the Americans and South Koreans discuss how to get him back to the negotiating table.

Mr Kim is the third in his family to hold the title of Supreme Leader of North Korea and, at just 37 years old, he could potentially rule for several more decades.

But some experts believe his preference for expensive champagne, imported cheese, Russian vodka and cigarettes are the greatest threat to the Kim Jong Un dynasty.

a research fellow at Yonsei University Institute for North Korean Studies, said Mr Kim's health has been questionable right from the start.

"When he assumed power at the age of 27, about 10 years ago, he was already overweight," he said.

Uncharted territory for not-so-minor WA Nationals

The Australian - Page 5 : 15 March 2021 - Original article by Paige Taylor - PortMac.News Summary

The Liberal Party of Western Australia's resounding defeat in the state election is set to see National Party leader Mia Davies become the Opposition leader.

The Nationals had six seats in the lower house prior to the election, and the party is expected to have 3-5 seats in the new parliament.

Davies concedes that it will be a challenge to lead a party with no more than five seats in a lower house that is dominated by Labor.

She adds that the Nationals will need to work with the Liberals, but says it is too soon to tell whether they might establish a Coalition or a formal alliance.

Scramble to contain hotel Covid leaks

The Australian - Page 1 & 2 : 15 March 2021 - Original article by Jess Malcolm, Charlie Peel - PortMac.News Summary

NSW has recorded its first locally-acquired COVID-19 case in 55 days after a quarantine hotel security guard tested positive.

The man has received his first dose of the Pfizer vaccine, and health authorities have yet to determine the source of his infection.

The case has prompted fears of a COVID-19 outbreak, given that the man worked at two quarantine hotels and had a secondary job as an office worker.

NSW has also recorded three new cases among returned travellers in hotel quarantine.

Meanwhile, Brisbane's Grand Chancellor quarantine hotel will be locked down for 72 hours after a person who had stayed there tested positive.

The case is not believed to be linked to a doctor who tested positive for the UK strain of COVID-19 on 12 March.

(See main story on PortMac.News tpday)

Vaccine rollout ramps up to 6m

The Australian - Page 2 : 15 March 2021 - Original article by Joseph Lam, Remy Varga - PortMac.News Summary

Nearly 160,000 Australians have received a COVID-19 vaccine since the rollout began in late February, including frontline workers and aged-care residents.

The next phase of the rollout will commence on 22 March, with the aim of vaccinating some 6.13 million people.

The government now expects to reach its initial target of vaccinating four million people by 26 April, rather than early April as initially intended.

Department of Health secretary Brendan Murphy has reiterated that the government still hopes that all Australians will have had access to a COVID-19 vaccine by the end of October.

Government 'very keen' for Singapore travel bubble

The New Daily - Page Online : 15 March 2021 - Original article by Josh Butler - PortMac.News Summary

Federal Tourism Minister Dan Tehan has flagged the possibility of expanding Australia's COVID-19 travel bubble to include Singapore.

Tehan says it is one of the issues that will be discussed during an upcoming visit to Singapore.

Other countries in the Asia-Pacific region could also potentially be added to the travel bubble.

However, the federal government's immediate priority is changes to the travel bubble with New Zealand to allow Australians to visit NZ without having to quarantine.

The present arrangement provides New Zealanders with quarantine-free access to Australia.

Welfare payment cuts could tip marginal Coalition seats

The Guardian Australia - Page Online : 15 March 2021 - Original article by Luke Henriques-Gomes - PortMac.News Summary

The modest increase in the unemployment benefit will be on the federal government's legislative agenda when parliament resumes on 15 March.

Analysis by the Australian Council of Social Service shows that 52 seats could be at risk in the next election due to the welfare reforms.

The proposed $50-per-fortnight increase in the JobSeeker allowance will be offset by the abolition of the coronavirus supplement of $150 a fortnight, and ACOSS says these seats are held on margins that are less than the number of people who will have their welfare payments reduced.

Labor holds most of the seats that are said to be at risk, although the party intends to support the bill.

Working parents hurt by part-time rules

The Australian Financial Review - Page 8 : 15 March 2021 - Original article by David Marin-Guzman - PortMac.News Summary

The Australian Chamber of Commerce & Industry has urged the Senate's crossbench to back provisions of the industrial relations omnibus bill that would provide greater flexibility for part-time workers.

The proposed amendments would allow part-time staff work to extra hours without attracting overtime rates.

Businesses contend that the existing overtime rules encourage employers to hire casual workers rather than part-time staff.

Victoria racks up a $10.1bn deficit in first half

7News - Page Online : 15 March 2021 - Original article by Benita Kolovos - PortMac.News Summary

The Victorian government's mid-year financial report shows that the state's deficit blew out to $10.1bn in the six months to 31 December.

The state has reported total revenue of $30.9bn for the half-year, which is $2.5bn lower than the same period in 2019.

Factors such as the state government's COVID-19 support measures and infrastructure spending resulted in net debt rising by $17.4bn to $61.7bn.

Shadow treasurer Louise Staley says the report shows that the government had lost control of the state's finances and contends that it will take decades for the state to pay off its debt.

James Merlino acting Victorian Premier

abc.net.au - Page Online : 14 March 2021 - PortMac.News Summary

Victorian Premier Daniel Andrews is out of intensive care and has been moved to a general ward at Melbourne's The Alfred Hospital.

Andrews fractured his T7 vertebra and broke several ribs in a recent fall.

Steve McGloughlin, the head of the hospital's intensive care unit, says there are no plans for Andrews to have surgery at present.

Acting Premier James Merlino has conceded that Andrews will not return to work for some time; he will seek permission to act as Andrews' proxy at the upcoming meeting of the national cabinet.

Facebook deal with Nine edges closer

The Australian Financial Review - Page 30 : 15 March 2021 - Original article by Miranda Ward - PortMac.News Summary

Social media giant Facebook is believed to be poised to sign a letter of intent with Nine Entertainment Company in coming days with regard to a revenue-sharing arrangement.

Nine is not expected to formally announce any such deal until the full commercial agreement has been determined.

Nine has already struck a deal with Google, which is said to be worth between $30m and $50m a year.

News Corp is also believed to be close to securing a deal with Facebook, which has previously struck deals with a number of smaller publishers.

No deal has yet been struck between PortMac.News & Facebook !

Most swipe left on dear Aunty

The Australian - Page 3 : 15 March 2021 - Original article by James Madden - PortMac.News Summary

New research shows that 79.25 of Australians would not pay to access ABC television if it became a subscription-only service.

This includes just 15% of the public broadcaster's core audience of people aged 55+.

The survey, which was undertaken by True North Research, also found that 66.1% of respondents believe that the ABC is more left wing than right wing.

The Menzies Research Centre's executive director Nick Cater says the survey shows that the ABC is not a going commercial concern in its present form, which should rule out any further debate about privatisation.

Channel 9 returns to WIN as Nine signs new affiliate deal

The Australian Financial Review - Page 26 : 13 March 2021 - Original article by Miranda Ward - PortMac.News Summary

Nine Entertainment Company has struck a seven-year affiliation agreement with regional broadcaster WIN Corporation.

Nine ended its long-standing commercial relationship with WIN five years ago, switching its regional alliance to Southern Cross Austereo.

Nine CEO Hugh Marks has attributed the move back to WIN to its larger broadcast footprint.

The new alliance with WIN will commence on 1 July, with the regional broadcaster's affiliation fee to comprise about 50% of its advertising revenue.

One final, big deal for Bruce Gordon?

The Weekend Australian - Page 25 & 29 : 13 March 2021 - Original article by Glenda Korporaal, Bridget Carter - PortMac.News Summary

The new affiliation agreement with WIN Corporation has prompted speculation that Nine could ultimately seek to acquire the regional broadcaster.

WIN owner Bruce Gordon is Nine's largest individual shareholder, and he is believed to be keen to gain a seat on its board.

Any deal to merge the two companies could result in Gordon and his family emerging with a larger stake in the combined group.

Gordon recently reduced his stake in the Seven Network's regional affiliate Prime Media Group from 19.5%t to less than 15%.

No monopoly in media industry, says watchdog

The Weekend Australian - Page 6 : 13 March 2021 - Original article by James Madden - PortMac.News Summary

Australian Competition & Consumer Commission chairman Rod Sims appeared before a Senate hearing into media diversity on 12 March.

He rejected suggestions that one company has a monopoly in the nation's media sector.

Sims contended that News Corp - which is the dominantly player in print media - is constrained by other media players, including Nine Entertainment, Seven West Media and the ABC.

Sims also argued that many other sectors are much concentrated than the media industry.

News Corp Australia papers labelled 'Sexist' and 'Toxic'

The Guardian Australia - Page Online : 12 March 2021 - Original article by Amanda Meade - PortMac.News Summary

Former News Corp Australia photojournalist Anna Rogers has told the Senate of the 'sexist and toxic culture' that prevailed during her career at the media group.

Rogers worked at various News Corp publications for nearly 30 years before being made redundant in 2020.

Amongst other things, she has told the inquiry into media diversity that photographers were told to only take pictures of attractive women rather than 'Pigs in lipstick', in order to increase News Corp's female readership.

Rogers added that all staff are required to sign employment contracts that gives News Corp the right to listen in on their telephone calls.

Disney forecast to steal Netflix's crown

The Guardian - Page Online : 15 March 2021 - Original article by Mark Sweney - PortMac.News Summary

The Walt Disney Company recently advised that its Disney+ subscription video-on-demand service has topped 100 million subscribers worldwide, just 16 months after its launch.

It took Netflix a decade to reach this milestone.

Netflix now boasts 203.7 million subscribers, ahead of Amazon Prime Video with an estimated 147 million.

Richard Broughton of Ampere Analysis expects Disney to overtake Netflix as the SVOD market leader by 2024, taking into account its ESPN+ and Hulu services in addition to Disney+.

Rich-listers bank on Maloney's Midas touch for gold play

The Australian - Page 15 & 18 : 15 March 2021 - Original article by Damon Kitney - PortMac.News Summary

Tulla Resources will make its Australian sharemarket debut in mid-March, following an IPO that raised more than $78m.

The gold hopeful is backed by the wealthy Maloney family's Tulla Group, which will retain a 65% stake in the listed company.

Tulla Resources' key asset is a 50% stake in the Norseman Gold Project in Western Australia, with production slated to commence in the March 2022 quarter.

Kevin Maloney previously founded MAC Services Group in 1996; it was sold to US-based Oil States International in 2010.

WA rare earths company gets a leg-up from Canada

The Australian Financial Review - Page 18 : 15 March 2021 - Original article by Brad Thompson - PortMac.News Summary

Australian-listed Vital Metals will shortly commence production at its Nechalacho rare earths project in Canada's Northwest Territories province.

The Perth-based company has struck a deal for the Saskatchewan Research Council to build and operate a cracking and leaching plant, which will be owned by Vital Metals.

The deal will make Vital Metals the first company to commence production of rare earths in Canada.

'Perfect storm' smashes residential auction reserves

The Australian Financial Review - Page 11 : 15 March 2021 - Original article by Nick Lenaghan - PortMac.News Summary

Preliminary data from CoreLogic shows that Sydney recorded a residential auction clearance rate of 87.4% in the week to 14 March, while the preliminary clearance rate in Melbourne was 80.3%.

The national preliminary clearance rate was 83.2%t from 2,232 scheduled auctions, following a final clearance rate of 80% for the previous week.

Louis Christopher of SQM Research says are no signs of a slowdown in auction activity ahead of the JobKeeper subsidy ending in late March.