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265 new cases | 'Freedom Day 2.0' | Haiti kidnappings | Murdered UK MP family 'Absolutely broken' | 'Auction frenzy' | DoorDash | 7 & 9 fight for TV crown | $A, Gold, Bit-coin Down, Dow & Copper Up.

Source : PortMac.News | Independent :

Source : PortMac.News | Independent | News Story:

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18-10-21 | 265 cases | 'Freedom Day 2.0' | Haiti kidnappings
265 new cases | 'Freedom Day 2.0' | Haiti kidnappings | Murdered UK MP family 'Absolutely broken' | 'Auction frenzy' | DoorDash | 7 & 9 fight for TV crown | $A, Gold, Bit-coin Down, Dow & Copper Up.

News Story Summary:

Latest updates on Key Economic Indicators:

Australian Dollar: $0.7414 USD (down $0.0001 USD)

Iron Ore Nov Spot Price (SGX): $123.00 USD (down $0.65 USD)

Oil Price (WTI): $82.28 USD (up $0.88 USD)

Gold Price (15 Oct): $1,767.63 USD (down $29.21 USD)

Gold Price (18 Oct): $1,768.30 USD (up $0.67 USD)

Copper Price (CME): $4.7200 USD (up 0.107 USD)

Bit-coin: $59,999.99 (down 1.11% in last 24 hours)

Dow Jones: 35,294.76 (up 382.20 points on Thursday's close)

All changes compared to Friday, except gold.


Haiti : Missionary group confirms kidnapping of 16 Americans, one Canadian

A missionary group including 16 Americans and one Canadian were kidnapped in Haiti on Saturday while on a trip to an orphanage, the Ohio-based Christian Aid Ministries group said on Sunday.

"We request urgent prayer for the group of Christian Aid Ministries workers who were abducted while on a trip to visit an orphanage on Saturday, October 16," it said in a statement, saying seven women, five men and five children were taken.

Gang members kidnapped the group after they left an orphanage in the Caribbean nation, where violence has surged since the assassination of President Jovenel Moise in July and an earthquake in August, CNN and the New York Times reported earlier.

Christian Aid Ministries provided no information about where the group may have been taken or on efforts to free them, beyond saying "we are seeking God’s direction for a resolution, and authorities are seeking ways to help."

U.S. Congressman Adam Kinzinger (Above0, an Illinois Republican, said the United States must find the group and see if it can negotiate their release without paying a ransom or should use the military or police to secure their freedom.

"We need to track down where they are and see if negotiations - without paying ransom - are possible. Or do whatever we need to do, on a military front or a police front," Kinzinger who sits on the House Foreign Affairs Committee, said.


NSW Freedom Day 2.0 comes early

The Australian - Page 5 : 18 October 2021 - Original article by Jess Malcolm - PortMac.News Summary

More than 80%of New South Wales residents are now fully vaccinated, prompting the state government to bring forward the next stage of its reopening plan to 18 October, one week ahead of schedule.

Amongst other things, most students will return to classrooms, the limit on household gatherings will be doubled to 20, and density limits will be relaxed for hospitality and retail venues.

The requirement for office staff to wear a face mask at work has also been scrapped; however, restrictions on travel between Sydney and regional areas will remain until 1 November, due to lower vaccination rates outside of the metropolitan area.

NSW recorded 265 new locally-acquired COVID-19 cases on Sunday; the state's death toll from the current outbreak rose by 5, including four people who were fully vaccinated.


ICAC inquiry into Gladys Berejiklian begins today

The NSW Independent Commission Against Corruption (ICAC) will hold public hearings for the next two weeks, as part of their investigation into whether Ms Berejiklian breached the public trust or turned a blind eye to any alleged corrupt behaviour by her ex-boyfriend Daryl Maguire.

Mr Maguire, the former Liberal MP for Wagga Wagga, has been the subject of a lengthy ICAC investigation, called Operation Keppel, into whether he used his public position to benefit his private business interests.

This was spurred by his admission during an ICAC hearing in 2018 into the former Canterbury City Council, that he sought payment to help broker a deal with a Chinese property developer.

He resigned from parliament in the wake of that admission.

It was during another public hearing a year ago that Ms Berejiklian admitted to being in a five-year secret relationship with the former MP.

(See full story on PortMac.News today)


Commonwealth says over 100% vax possible due to anomalies

The Canberra Times - Page Online : 18 October 2021 - Original article by Finn McHugh - PortMac.News Summary

More than 99% of Australian Capital Territory residents aged 12+ have now received at least one dose of a COVID-19 vaccine.

This is based on population data from the 2016 Census, and the federal government has advised that it will no longer report vaccination rates above 95% as Australian Bureau of Statistics data does not track real-time population changes.

A spokesperson notes that such anomalies could result in an official vaccination rate of more than 100%. There are 486 active COVID-19 cases in the ACT, with 33 new cases reported on Sunday.


Covid surge from new variants possible after 80% vax

The Guardian Australia - Page Online : 18 October 2021 - Original article by Melissa Davey - PortMac.News Summary

New modelling suggests that there could be a rise in COVID-19 infections and hospitalisations if opening Australia's borders results in new variants with similar infectiousness to Delta coming into the country, even if the 80% double vaccination threshold has been reached.

The authors of the modelling contend that policymakers should recognise that mass vaccination is not likely to offer complete protection against COVID-19, rather than exclusively looking at defining vaccination thresholds at which certain restrictions can be removed.


Jab proof a problem for international travellers

The Australian Financial Review - Page 10 : 18 October 2021 - Original article by Emma Connors, Hans van Leeuwen, Michael Smith, Matthew Cranston - PortMac.News Summary

Australians living abroad will no longer have to undergo hotel quarantine from 1 November if they arrive in Sydney.

The announcement by New South Wales Premier Dominic Perrottet prompted Singapore Airlines to put an additional 32,000 tickets on sale for flights between Singapore and Sydney before Christmas, while Qantas has brought forward its starting date for international flights.

One stumbling block for customs and immigration officials at Sydney Airport is being able to recognise the various national and international certification systems in use.

Australia's Therapeutic Goods Administration is also yet to recognise Sinopharm, one of the two main COVID-19 vaccines used by China.


U.S Anti-vax tragedy playing out in cemeteries

The Weekend Australian - Page 19 : 16 October 2021 - Original article by Katrina Grace Kelly - PortMac.News Summary

Many anti-vaxxer activists in the US have contracted COVID-19, and many have also died.

Many of these anti-vaxxers are in positions of influence, including politicians, religious leaders and radio hosts; while some have died of COVID-19 themselves, they have also contributed to the deaths of others by promoting their anti-vaccination stance.

Anti-vaxxers are also prevalent in Australia, and rather than simply promoting their views, some are now selling fake vaccination certificates online or actively targeting GP clinics or pharmacies that offer vaccination.

However, the future belongs to the vaccinated, as well as cities with the highest levels of vaccination.


Prepare for inflation and higher interest rates

The New Daily - Page Online : 18 October 2021 - Original article by Alan Kohler - PortMac.News Summary

The pandemic has resulted in a temporary surge in inflation, but consumers must also be ready for more persistent inflation over the longer term.

Wages must rise, and permanently, which will cause inflation to increase, while climate change also comes at a cost, either if it is being dealt with or if it is not.

The prospect of more persistent inflation could see the Reserve Bank put the 'Brakes' on the economy by lifting interest rates.

However, it must not overdo things, due to Australia's household debt to income ratio being so high; even a light touch on the 'brakes' will bring the economy to a screeching halt.


Nats to get billions for net zero

The Australian Financial Review - Page 1 & 4 : 18 October 2021 - Original article by Phillip Coorey - PortMac.News Summary

The National Party has received a presentation from Energy Minister Angus Taylor on the federal government's plan to achieve net zero emissions by 2050 through technological innovations.

The Nationals have not yet endorsed the plan, calling for more detail, with deputy leader David Littleproud saying that there are "Still some more questions that need to be answered'.

It is understood that the plan sees "Billions of dollars on the table" for regional Australia, while Nationals leader Barnaby Joyce said prior to the meeting that there was no chance that the party would accept an increased emissions reduction target for 2030.


'Extreme urgency' Tony calls for nuclear submarine stop gap

The Australian - Page Online : 18 October 2021 - Original article by Adam Creighton - PortMac.News Summary

The recently announced AUKUS security treaty involving Australia, the US and UK will see Australia get at least eight nuclear-powered submarines.

However, former Australian prime minister Tony Abbott is concerned that the new submarines will not be delivered fast enough to counter what he contends is China's growing aggression, and he has urged Australia to secure retiring American or British submarines as soon as possible.

Abbott also says he would like to see Japan become part of the 'five eyes' group of nations, which currently includes Australia, New Zealand and the US.


Wage theft is Uni sector's dirty little secret

The Australian Financial Review - Page 12 : 18 October 2021 - Original article by Damien Cahill - PortMac.News Summary

The pandemic has brought to light the university sector's 'Dirty little secret'; namely, its reliance on staff with insecure work contracts.

Around 70% of the sector's staff are on such contracts, either part-time or casual, while the underpayment of staff is widespread.

The Fair Work Ombudsman has investigated 14 universities over potential underpayment of staff since the start of the pandemic, and Monash and the University of NSW are among the universities to have 'Owned up' to millions of dollars in underpayments.


UK migrants could help fill worker shortfall

The Australian Financial Review - Page 6 : 18 October 2021 - Original article by Hans van Leeuwen - PortMac.News Summary

Federal Trade Minister Dan Tehan says he is keen to conclude Australia's proposed free trade agreement with the UK, which will see the extension of both countries' working holiday schemes.

Tehan hopes the FTA will result in more young British people coming to Australia, stating that they can help to address staffing shortages in sectors such as tourism and hospitality. For Australians, he says he wants the UK to be behind only New Zealand in terms of ease of entry.

The federal government is hoping the trade deal will be in place by 1 July 2022.


Bumper harvests at risk in port turmoil

The Australian - Page 4 : 18 October 2021 - Original article by Adeshola Ore - PortMac.News Summary

Australian farmers are tipped to reap a record $73 billion from their output in the 2021-22 financial year, but there are claims their harvest is under threat from a combination of price gouging and strikes at Australian ports.

The Australian Competition & Consumer Commission has confirmed it is investigating allegations of price gouging by port operators and shipping firms, while National Farmers Federation CEO Tony Mahar says farmers needing to import machinery are being hurt by industrial action at ports.


Seven & Nine fight over ratings crown

The Australian Financial Review - Page Online : 18 October 2021 - Original article by Miranda Ward - PortMac.News Summary

Seven West Media CEO James Warburton says the Seven Network is in an unbeatable position for the 2021 ratings year, having won 26 of the 41 weeks in the calendar year to date.

Seven has also won 19 of the 31 weeks of the ratings year so far, which excludes the Easter break and the Tokyo Olympic Games.

Meanwhile, Seven has an overall audience share of 38.7%, ahead of the Nine Network's 37.6%.

Nine in turn contends that it is leading in the key 25-54 age demographic, with an audience share of 37.6%.

The Ten Network will hold its annual upfronts on 20 October.


Nine poised to pay 'Top dollar' for NRL

The Australian - Page 19 : 18 October 2021 - Original article by James Madden - PortMac.News Summary

The Nine Network is expected to sign a new five-year broadcasting rights deal with the National Rugby League in coming days.

The current rights deal has cost Nine some $575m in cash and contra, and the new deal is tipped to cost it around $600m, given the strong interest in the NRL from rival free-to-air networks.

Nine currently broadcasts three NRL matches per round, plus all finals and the State of Origin Series, while pay-TV provider Foxtel broadcasts every NRL match.


Old school approach to new-age journalism

The Australian - Page 19 : 18 October 2021 - Original article by David Murray - PortMac.News Summary

'Shandee's Story' is the latest investigative podcast by journalist Hedley Thomas, examining the unsolved murder of Shandee Blackburn.

'Teacher's Pet', his first podcast that looked at the disappearance of Lyn Dawson, was downloaded over 60 million times, and Thomas followed it up with 'The Night Driver', which investigated the disappearance of retail worker Janine Vaughan from Bathurst in NSW in 2001.

Thomas claims that there is a "Truth and an authenticity in podcasts" that those who listen to them respond well to.


Facebook may identify trolls in defamation cases

The Australian Financial Review - Page 28 : 18 October 2021 - Original article by Miranda Ward - PortMac.News Summary

Social media companies have come under scrutiny recently from both Prime Minister Scott Morrison and his deputy Barnaby Joyce over the lack of accountability regarding the many defamatory comments on these platforms.

Such comments on traditional media would see them hit with hefty fines.

Facebook has since indicated that it is willing to disclose the identity of people who post defamatory comments on its platform if it is asked to by someone who has been the victim of such comments or if it receives a court order.


DoorDash in push for bigger bite of food delivery market

The Australian Financial Review - Page Online : 18 October 2021 - Original article by Miranda Ward - PortMac.News Summary

US delivery service DoorDash has launched its first advertising campaign in Australia, using the slogan 'We DoorDash'.

The campaign was devised by Cummins & Partners, and is being run on billboards, television and digital.

The campaign is aimed at informing consumers that they can use DoorDash to get a wide range of goods delivered, including haircare, groceries, takeaway food and pharmaceuticals.

DoorDash has been operating in Australia since September 2019, and DoorDash Australia's general manager Rebecca Burrows says it currently covers 85% per cent of the nation's population.


Live music just wants to break free

The Australian Financial Review - Page 10 : 16 October 2021 - Original article by Michael Bailey - PortMac.News Summary

PwC estimates that live performances accounted for $1bn of the $1.8bn in direct revenue generated by the Australian music industry in 2019.

Although live music venues in New South Wales will be able to operate at 100% capacity from 1 December, ongoing border restrictions within Australia will prevent many musicians from going on tour for some time.

'A Day On The Green' is among the music festivals that has been hard by the COVID-19 pandemic, after grossing about $36m in 2019.


House prices 'Moving before buyers' eyes' in auction frenzy

The Australian Financial Review - Page 2 : 18 October 2021 - Original article by Larry Schlesinger - PortMac.News Summary

Preliminary data from CoreLogic shows that Sydney recorded a residential auction clearance rate of 85% for the week to 16 October.

This compares with a final clearance rate of 81.7% for the previous week.

Melbourne's preliminary clearance rate was 79.4%, following a final figure of 77.3% for the previous week.

Buyers' agent David Morrell notes that many properties are being sold almost immediately upon being listed. The preliminary national clearance rate was 81.8%, with a total of 2,920 homes going under the hammer.


Commercial property is running hot

The Australian - Page 13 & 16 : 18 October 2021 - Original article by Ben Wilmot - PortMac.News Summary

Preliminary data from JLL shows that some $27.8bn worth of commercial property was sold across Australia in the first nine months of 2021; this compares with just $20.2bn for the whole of 2020.

Sales of industrial, logistics and retail properties have already surpassed 2020 levels, and sales of office properties are poised to do so.

The commercial property sector's rebound from the COVID-19 pandemic is being driven by factors such as access to cheap debt and strong competition for assets.


Investor slams Coalition 'Ideology' against BTR

The Australian Financial Review - Page 31 : 18 October 2021 - Original article by Michael Bleby - PortMac.News Summary

Chris Key contends that the federal government is 'Stonewalling' efforts to develop a viable build-to-rent sector in Australia because it challenges its 'ideology' that home ownership is all-important.

Key is the Australian MD of Greystar, the world's biggest investor in BTR.

Prime Minister Scott Morrison imposed a 30% withholding tax on the BTR sector when he was Treasurer in 2017, and Labor has stated that it will reduce this tax to 15% if it wins the next federal election.


ASX Stocks tipped to rise after strong US lead

The Australian - Page 14 : 18 October 2021 - Original article by Cliona O'Dowd - PortMac.News Summary

Futures pricing suggests that the Australian sharemarket will open about 0.4% higher on 18 October, with positive leads from the US and Europe.

Craig James of CommSec says a rise in the price of crude oil and base metals should boost stocks in these sectors, although he notes that this may be offset by a fall in the price of iron ore and gold.

Meanwhile, the Reserve Bank will release the minutes from its latest board meeting in coming days.


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