Latest updates on Key Economic Indicators:

Australian Dollar: $0.7303 USD (down $0.0009 USD)

Iron Ore Nov Spot Price (SGX): $125.75 USD (up $8.10 USD)

Oil Price (WTI): $79.35 USD (up $0.50 USD)

Gold Price (8 Oct): $1,756.94 USD (up $1.05 USD)

Gold Price (11 Oct): $1,757.40 USD (up $0.46 USD)

Copper Price (CME): $4.2785 USD (up 0.0265 USD)

Bit-coin: $55,378.17 (up 1.28% in last 24 hours)

Dow Jones: 34,746.25 (down 8.69 on Thursday's close)

All changes compared to 7am Friday, except gold.

'Taiwan won't be forced to bow to China' President says

Taiwan will keep bolstering its defences to ensure nobody can force them to accept the path China has laid down that offers neither freedom nor democracy, President Tsai Ing-wen said on Sunday, in a riposte to Beijing that its government denounced.

Chinese President Xi Jinping vowed on Saturday to realise "Peaceful reunification" with Taiwan and did not directly mention the use of force. Still, he got an angry reaction from Taipei, which said only Taiwan's people can decide its future.

Addressing a National Day rally, Tsai said she hoped for an easing of tensions across the Taiwan Strait, and reiterated Taiwan will not "Act rashly".

"But there should be absolutely no illusions that the Taiwanese people will bow to pressure," she said in the speech outside the presidential office in central Taipei.

"We will continue to bolster our national defence and demonstrate our determination to defend ourselves in order to ensure that nobody can force Taiwan to take the path China has laid out for us," Tsai added.

"This is because the path that China has laid out offers neither a free and democratic way of life for Taiwan, nor sovereignty for our 23 million people."

China has offered a "One country, two systems" model of autonomy to Taiwan, much like it uses with Hong Kong, but all major Taiwanese parties have rejected that, especially after China's security crackdown in the former British colony.

'Freedom Day' : No turning back

The Australian - Page 1 & 4 : 11 October 2021 - Original article by Geoff Chambers - PortMac.News Summary

New South Wales Premier Dominic Perrottet has praised the resilience of the state's residents during the lockdown that ran for 106 days.

The state's so-called Freedom Day on 11 October will see restrictions ease, particularly for those who are fully vaccinated.

The lockdown which began in late June is estimated to have cost about $700m per week in Greater Sydney and some $900m across the NSW economy.

Federal Treasurer Josh Frydenberg says Australians must "Learn to live with the virus", adding that the reopening of the NSW economy should signal the end of lockdowns.

More than 73% of the state's population aged 16+ is now fully vaccinated.

Loophole allows unvaccinated to work

The Australian Financial Review - Page 3 : 11 October 2021 - Original article by David Marin-Guzman - PortMac.News Summary

Fully vaccinated workers will be able to return to work in Sydney offices from 11 October under the New South Wales government's rules for reopening the economy at a 70% double vaccination rate.

The same rules will apply to many unvaccinated people who were previously unable to work because they lived in one of the 12 local government areas of concern, unless they work in retail, hospitality, entertainment or salon venues; the new rules mean that there are no longer any LGAs of concern.

Michael Tooma from law firm Clyde & Co notes some employers had all their workers from the 12 LGAs and had relied on the public health orders as their default vaccination policy, and that more employers may now have to adopt their own vaccination mandates.

Covid vaccine booster shots : why are they needed?

The Guardian Australia - Page Online : 11 October 2021 - Original article by Elias Visontay - PortMac.News Summary

Severely immunocompromised people will able to get a COVID-19 vaccine booster shot from 11 October, following a recommendation by the Australian Technical Advisory Group on Immunisation.

It has recommended that a booster shot be given to all those aged 12+ who have conditions that severely weaken their immune defences, along with patients receiving cancer treatment and other therapies.

It is expected that around 500,000 people will be eligible for the initial rollout of booster shots, with chief medical officer Paul Kelly recommending that eligible people get their booster shot two to six months after their second vaccine dose.

'Authoritarian-style' evidence to deport migrants

The Guardian Australia - Page Online : 11 October 2021 - Original article by Ben Murphy - PortMac.News Summary

The federal government is being accused of introducing legislation that would "Install a regime of alarming secrecy" regarding the cancellation of visas on the basis of sensitive information, according to opponents of the legislation.

They contend the legislation would make challenges to the cancellation of visas under such circumstances more difficult, with the legislation allowing visas to be cancelled without the visa holders' knowledge, or what evidence the decision to cancel the visa was based.

Local firms down $120m on sub deal

The Australian - Page 2 : 11 October 2021 - Original article by Ben Packham - PortMac.News Summary

The Australian Industry & Defence Network estimates that small and medium defence businesses will incur a $120 million hit as a result of the federal government's decision to cancel the $90 billion submarine contract with France's Naval Group.

One company surveyed by the AIDN stated it had spent $3.4 million on new systems, equipment and personnel to become a Naval Group supplier, and that it would now have to retrench around half of its workforce because they were no longer required.

Australia urges haste on rejig of global tax rules

The Australian Financial Review - Page 10 : 11 October 2021 - Original article by Tom McIlroy - PortMac.News Summary

Treasurer Josh Frydenberg will push for progress on new international tax rules and the implementation of a 15% minimum tax rate for corporations at an upcoming meeting of G20 finance ministers and central bank governors.

OECD Secretary-General Mathias Cormann has called for the new rules to be speedily implemented, but some nations will have to rewrite their domestic tax laws for the rules to be adopted, including Australia and the US.

The new rules are aimed at preventing a 'race to the bottom' on company tax rates, while it has been estimated that Australia could earn up to $3 billion more a year in tax revenue through the adoption of a minimum tax rate on corporations.

Morrison must help states achieve emission targets

The Australian - Page 16 : 11 October 2021 - Original article by Robert Gottliebsen - PortMac.News Summary

The federal government's cabinet ministers will shortly meet to discuss a national emissions reduction plan.

However, such a plan is not necessary; rather, Australia requires a national "Outcome", and it already has this via the commitment of each state and territory to embrace emission reduction targets and a net-zero target of 2050.

The fact that the states and territories are leading the way with regard to emissions reduction demonstrations that the Constitution and the federation are working the way they were intended.

Now is the time for Prime Minister Scott Morrison to show leadership and work with the states to ensure that their climate targets are met.

Cadbury staff strike in bid for permanent jobs

The Weekend Australian - Page 8 : 9 October 2021 - Original article by Ewin Hannan - PortMac.News Summary

Mondelez International says industrial action at one of its Cadbury plants in Melbourne will have no impact on chocolate production.

Members of the Australian Manufacturing Workers' Union at the Ringwood plant have gone on strike for 24 hours over enterprise bargaining negotiations.

The union is seeking pay rises of three per cent annually for three years, although Mondelez has offered a 3% rise in the first year and 2% for the following two years.

The AMWU is also pushing for workers who have been employed on a casual basis for up to 10 years to be given permanent employment.

Woolies heads off wages lawsuit

The Weekend Australian - Page 23 : 9 October 2021 - Original article by Eli Greenblat - PortMac.News Summary

Supermarket chain Woolworths announced on 8 October that it had paid $50 million to provisionally settle a class action that was launched against it by Adero Law in 2019.

The action was launched in regard to remediation of salaried team members covered by the General Retail Industry Award (GRIA), with the action being prompted by Woolworths announcing that it may have underpaid its staff by as much as $390 million over a number of years.

The $50 million was paid on the basic that the class action be discontinued, with CEO Brad Banducci saying it means that its approach to full remediation of staff can be suitably addressed through proceedings that have been launched by the Fair Work Ombudsman.

Perrottet would 'Iron out' ICAC weaknesses

The Australian - Page 1 & 2 : 11 October 2021 - Original article by Sharri Markson - PortMac.News Summary

NSW Premier Dominic Perrottet says he is willing to look at changes that might address "Weaknesses" in the Independent Commission Against Corruption.

Perrottet recently became Premier following ICAC's announcement that it would launch a formal investigation into his predecessor, Gladys Berejiklian.

ICAC has been criticised for its "Naming and shaming" of public figures who have subsequently been proven to be innocent, and it has been suggested that it should conduct its hearings in private, and not name someone publicly until it is confident that the subject of its investigations has, in fact, acted corruptly.

CBA looks for slice of global carbon credit trade

The Australian - Page 13 & 16 : 11 October 2021 - Original article by Joyce Moullakis - PortMac.News Summary

The Commonwealth Bank of Australia contributed $15m to the recent capital raising of environmental, social and governance commodities marketplace Xpansiv.

Andrew Hinchliff of CBA says the investment is part of a broader 'green banking' push; he adds that Australia has the potential to become a major supplier of carbon credits globally.

Meanwhile, CBA recently joined forces with fintech CoGo to launch a pilot program that will allow personal banking customers to track their carbon footprint.

There are plans to extend the program to business customers in 2022.

Buy now, pay later contender 'Butn' expands into real estate

The Australian Financial Review - Page 18 : 11 October 2021 - Original article by Jessica Sier - PortMac.News Summary

'Buy now, pay later' provider Butn will expand into the commercial real estate sector as a result of two deals.

The first deal involves an integration arrangement with customer relationship management software provider Agentbox, and will see real estate agents provided with early access to commissions in over 2,000 offices across Australia.

The second deal will see Butn partner with Ready Media Group to have its ButnPay option installed on the latter's platform, making it accessible to around 60,000 website users each month and more than 2000 agency clients.

Three risks for retailers

The Weekend Australian - Page 32 : 9 October 2021 - Original article by Robert Gottliebsen - PortMac.News Summary

Retailers are set to benefit from a surge in spending by cashed-up consumers as the Australian economy reopens.

However, there are a number of risks for retailers.

There has been a big shift to online retailing due to the pandemic, although most retailers are dependent on Australia Post to deliver customers' goods, and Christmas trade could be affected by the delivery issues being experienced by the government-owned company.

Meanwhile, factors such as the energy crisis and labour shortages in China could result in shortages of Chinese-made goods in coming months, while price rises can be expected.

Consumer spending would also be hit if there is an outbreak of inflation and a resulting rise in interest rates.

Battery boom could hit the brakes on electric vehicles

The Australian - Page 13 & 15 : 11 October 2021 - Original article by Cameron England - PortMac.News Summary

The price of battery metals such as lithium, cobalt and nickel has risen sharply in the last year or so.

S&P Global Platts Analytics has warned that this could curb the boom in sales of electric vehicles, given that sales of such vehicles are sensitive to cost increases in some regions.

UBS has forecast that demand for electric vehicles will progressively rise over coming decades, and it doubts that supply of battery metals will be sufficient to meet demand.

UBS expects a supply deficit to emerge after 2024.

Foxtel to refine TV with Flash

The Australian - Page 18 : 11 October 2021 - Original article by Sophie Elsworth - PortMac.News Summary

News streaming service Flash will be the third streaming service to be launched by Foxtel in as many years, with Flash following on from entertainment service Binge and sports service Kayo.

Flash will feature over 20 local and overseas live news services, while its October launch coincides with its announcement of a global partnership to roll out smart TVs, with Australian users due to get the Sky Glass smart TV in 2023.

53% of Foxtel's four million subscribers have a streaming service, while research from Deloitte released in September found 70% of Australians had at least one TV or movie streaming subscription.

Guardian freelance pay stoush

The Australian - Page 17 : 11 October 2021 - Original article by James Madden - PortMac.News Summary

Guardian Australia editor Lenore Taylor says the online news website believes that its pay rates for freelance journalists are in line with industry standards.

The Media, Entertainment and Arts Alliance has launched an online petition calling for freelancers to receive a "Fair" minimum pay rate, annual rate increases and superannuation contributions.

An MEAA spokesman says freelancers do not have the protection of a minimum wage.

Offsets needed to help coal, gas survive?

The Australian Financial Review - Page 1 & 6 : 11 October 2021 - Original article by Mark Ludlow, Angela Macdonald-Smith, Jacob Greber - PortMac.News Summary

Federal Energy Minister Angus Taylor will emphasise the need for carbon offsets in achieving net zero emissions in an upcoming speech.

He will also stress that net zero does not mean zero emissions, and that this distinction will ensure that Australia's export industries survive and prosper.

Taylor and Prime Minister Scott Morrison will seek to assure National Party MPs that adopting a net zero target would not result in a widespread shutdown of the resources and agricultural sectors.

Taylor will also reiterate the government's commitment to reducing carbon emissions via technology rather than taxes.

Bickering holds up deal on national skills funding

The Australian Financial Review - Page 13 : 11 October 2021 - Original article by Julie Hare - PortMac.News Summary

A new National Skills Agreement was due to be implemented in August, but its adoption has been delayed until early 2022.

The delay is the result of disagreement between the federal and state governments over the terms of the deal and how it should be funded, with the agreement being the main funding arrangement for skills and training in Australia.

One source of disagreement is what courses will be funded, while there is also dissatisfaction among the states and territories about the work being done by the National Skills Commission to make the pricing of courses "More consistent and more efficient."

Tech giants beef up misinformation controls

The Age - Page Online : 11 October 2021 - Original article by Zoe Samios - PortMac.News Summary

Facebook, Google, Twitter are among the members of DIGI that have signed up to the voluntary code which the technology industry association launched in early 2021.

The lobby group has advised that it will establish an independent board to oversee the code and ensure that DIGI members are complying with it.

Amongst other things, the code requires members to outline measures they are taking to address the issue of misinformation and disinformation on their platforms.

DIGI CEO Sunita Bose says the industry is capable of self-regulation.

Monsters of Rock: BHP boss pours cold water on green steel

Stockhead - Page Online : 11 October 2021 - Original article by Josh Chiat - PortMac.News Summary

BHP CEO Mike Henry says it could be up to three decades before coking coal is replaced with hydrogen in the manufacture of steel, in part because of the huge amount of capital needed to develop green DRI.

Andrew Forrest, the head of rival iron ore miner Fortescue Metals Group, is well and truly on the green hydrogen "Bandwagon", while BHP has noted that it has sold its first carbon neutral product - a parcel of copper from its mines in Chile that was sold to US processor Southwire.

Forrest to build $1b hydrogen plant

The Australian Financial Review - Page 6 : 11 October 2021 - Original article by Mark Ludlow, Angela Macdonald-Smith - PortMac.News Summary

Fortescue Metals chairman Andrew Forrest and Queensland Premier Annastacia Palaszczuk have announced that Fortescue Future Industries will construct a $1 billion electrolyser factory in Gladstone.

Forrest says hydrogen-equipment manufacturing industries will be vital for Australia if it is to create a hydrogen sector, with hydrogen electrolysers using power to split hydrogen from water.

Palaszczuk says developing a a hydrogen industry in Queensland would be as significant as "Hosting the 2032 Olympics".

Capital Cities hit 80%+ clearance rate

The Australian Financial Review - Page 8 : 11 October 2021 - Original article by Nila Sweeney, Ronald Mizen - PortMac.News Summary

Sydney's residential auction clearance rate for the week to 9 October was 83.2%, according to preliminary data from CoreLogic.

Melbourne's clearance rate fell to 81.9%, with the number of auctions that were scheduled to be held solely online reaching a record 1,114. All other capital cities also recorded clearance rates of more than 80%, which the national clearance rate was down slightly at 83.3%.

Meanwhile, Chris Richardson of Deloitte Access Economics says interest rates are set to remain low for a long time, which will further boost housing prices.

Elders rides the farmland boom as sales rise 25%

The Australian Financial Review - Page 32 : 11 October 2021 - Original article by Larry Schlesinger - PortMac.News Summary

Elders' real estate division reported growth in farmland sales for a sixth successive year in the 12 months to 30 September.

Sales of agricultural land rose by 25% to a record $1.6bn during the year, while total real estate and water sales rose by 40% to around $7bn.

Tom Russo of Elders notes that a lot of capital is available to invest in agricultural property at present. Elders will release its financial results for 2020-21 on 15 November.