Latest updates on Key Economic Indicators:

Australian Dollar: $0.6926 USD (down $0.0169)

Iron Ore Jul Spot Price (SGX): $135.15 USD (down $6.45 USD)

Oil Price (WTI): $120.90 USD (down $0.47 USD)

Gold Price: $1,819.22 USD (down $28.65 USD)

Copper Price (CME): $4.2000 (down $0.1680 USD)

Bit-coin: $23,291.63 (down 14.94% in the last 24 hours)

Dow Jones: 30,516.74 (down 876.05 points on Friday's close)

All changes compared to 7am Friday, except Dow and Bitcoin.

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Socceroos to 2022 World Cup after nail-biter win against Peru

The Socceroos have qualified for a fifth-straight World Cup after penalty shootout win over Peru in their intercontinental play-off in Qatar.

Substitute goalkeeper Andrew Redmayne was the humble hero, making the winning save as Australia won the shootout 5-4 after the match finished 0-0 after extra-time.

"I'm no hero. I just played my role like everyone else did tonight," the A-League veteran said after the match.

"Not even the 11 on the pitch, it was much more than that, it is a team effort.

"I can't thank the team enough, the staff enough. You know, I'm not going to take credit. The boys ran out 120 minutes, and it not only takes 11 on the field but the boys on the bench, the boys in the stands."

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Ukraine : All 3 bridges into Severodonetsk are now impassable

All three bridges connecting the embattled city of Severodonetsk with its twin city Lysychansk to the west, are now impassable for vehicles, severely limiting evacuation options for those trying to flee the city and supply routes in, according to Serhiy Hayday, head of the Luhansk region military administration.

“The bridges made it possible to carry at least some humanitarian cargo, something related to reserves. It is currently impossible to use the bridges,” Hayday said.

A second of three bridges were destroyed over the weekend. Hayday’s office explained that the third bridge, which has come under sustained shelling, is now impassable for vehicles.

The destruction of the bridges gives the Russian military another advantage since supply lines are interrupted, Hayday said. Getting in weapons and reserves is now “Difficult, but not impossible,” he said.

Hayday said that travel between Severodonetsk and Lysychansk was still possible, but did not go into detail for security reasons.

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Business praises 'Critical first step' in Beijing detente

The Australian Financial Review - Page 10 : 14 June 2022 - Original article by Tom McIlroy, Emma Connors, Michael Smith - PortMac.News Summary

Defence Minister Richard Marles is on his way to Japan, following a gathering of Asian leaders in Singapore which included a hour-long meeting with Chinese Defence Minister General Wei Fenghe on 12 June.

It was the first ministerial-level meeting between China and Australia in almost three years, and Marles says the meeting was an important 'First step' in a possible easing of tensions between the two nations.

Treasury Wine Estates CEO Tim Ford says it was encouraging to see the discussions between Australia and China, while China's Ambassador to Australia Xiao Qian told a conference in Perth on 11 June that it is in Beijing's interests to have a healthy bilateral relationship.

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Australia demands China end 'Unjustified trade strikes'

The Guardian Australia - Page Online : 14 June 2022 - Original article by Daniel Hurst - PortMac.News Summary

Foreign Minister Penny Wong has welcomed signs of improved relations between Australia and China, and she says the federal government will seize every opportunity to urge China to wind back its trade sanctions.

Wong adds that the government will always stand up for Australia's values and interests, while Chinese foreign ministry spokesperson Wang Wenbin has urged the federal government to seek "Common ground while putting aside differences".

Richard McGregor of the Lowy Institute says the face-to-face meeting between the two nations' defence ministers on Sunday is a positive step, but he stresses that it would be wrong to "Over-interpret one meeting".

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Bowen, US 'In lockstep on climate'

The Australian - Page 4 : 14 June 2022 - Original article by Greg Brown - PortMac.News Summary

Minister for Climate Change and Energy Chris Bowen has held a virtual meeting with US special envoy for climate change John Kerry, ahead of an upcoming virtual meeting of energy ministers.

The virtual meeting comes as a report by NewClimate Institute claims that many of the plans by countries and businesses aimed at achieving net zero contain "Major flaws".

Meanwhile Bowen says that he and Kerry agreed that Australia and the US will work closely together on lowering carbon emissions.

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Labor to 'Reset' stalled talks over $12b skills deal

The Australian Financial Review - Page 7 : 14 June 2022 - Original article by Ronald Mizen - PortMac.News Summary

Brendan O'Connor says reviving talks over the stalled $12 billion National Skills Agreement will be his top priority as Skills Minister.

Talks on the proposed agreement stalled in the leadup to the federal election when state and territory skills ministers accused then minister Stuart Robert of failing to "Genuinely negotiate and address key concerns".

On the issue of using migration to help address skills shortages, O'Connor says there will certainly need to be a response in the immigration portfolio to the large number of people who left Australia during the pandemic, but that migrants should not be used at the expense of the "Local labour market".

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Hope for US subs by 2030 sinking fast

The Australian - Page 2 : 14 June 2022 - Original article by Ben Packham - PortMac.News Summary

The prospect of Australia acquiring two Virginia-class nuclear-powered submarines from the US by the end of the decade appears to have diminished.

Opposition leader Peter Dutton recently expressed his hope that the US would agree to sell two of the vessels to Australia by 2030.

However, US government reports have indicated that the nation's shipbuilders are already struggling to meet the US Navy's own target of acquiring two Virginia-class submarines each year.

The US government is also prioritising the construction of the next-generation Columbia-class ballistic missile submarines.

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Private equity eyeing NDIS as next 'Cash cow'

The Australian - Page 5 : 14 June 2022- Original article by Stephen Lunn - PortMac.News Summary

Roland Naufal claims that private equity companies are viewing the National Disability Insurance Scheme as their next "cash cow".

The director of disability consultancy DSC contends that private equity firms are buying small therapy clinics and combining them into large ones that operate along the lines of Medibank bulk-billing clinics.

Naufal says the NDIS should be about boosting capacity for recipients and their families and not about outlaying funds on costly individual therapies, with his comments coming amid claims that as much as 5% of the NDIS's $30 billion annual cost is being lost to fraud.

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Crossbench women push for code of conduct

The Weekend Australian - Page 6 : 11 June 2022 - Original article by Jess Malcolm - PortMac.News Summary

Newly-elected female independent MPs will work together with existing female crossbenchers on pushing for a code of conduct for federal parliament when it resumes in July.

They argue that a code of conduct is standard procedure for any Australian workplace. The Jenkins report into parliamentary culture recommended the adoption of a code of conduct for federal parliament, and returning independent MP Helen Haines says it is "Crucial" that one be established; newly elected independent Zoe Daniel says it is a "top priority".

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Drive to renewables won't bring energy prices down soon

The Australian - Page 11 : 14 June 2022 - Original article by Judith Sloan - PortMac.News Summary

The national electricity market is under considerable stress, but the new federal government's actions are constrained by its election pledges to reduce carbon emissions and to increase the share of renewables.

The most obvious medium-term solution for problems with the national electricity market is to create a capacity mechanism.

The former Coalition government had been slowly working toward developing such a mechanism, but some of the states have resisted including coal - and even gas - in it.

Australia is now a long way from the affordable and reliable electricity system we had when the NEM was created. Fixing the problems will not be easy.

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Union seeks 6% pay rise

The Weekend Australian - Page 1 & 4 : 11 June 2022 - Original article by Ewin Hannan - PortMac.News Summary

The Electrical Trades Union will begin negotiations for new enterprise agreements in the power and commercial construction sectors later in 2022.

Acting national secretary Michael Wright has confirmed that the ETU will push for a wage rise of 6% in the first year of the new agreements, stating that it will not accept wage deals that do not keep pace with the cost of living.

He adds that the ETU is open to including a provision that allows for lower pay increases in subsequent years if the inflation rate falls.

Australian Industry Group CEO Innes Willox says the proposed wage would increase inflation, interest rates and energy prices.

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NSW calls for federal help to end stamp duty

The Australian Financial Review - Page 5 : 14 June 2022 - Original article by Samantha Hutchinson, John Kehoe - PortMac.News Summary

The New South Wales government plans to include a number of measures aimed at improving housing affordability in its upcoming Budget.

However, Premier Dominic Perrottet says any changes to long-term property taxes will not be possible without the help of the federal government.

He will raise the issue of replacing stamp duty with a land tax at a meeting of state and federal leaders on 17 June, but comments from federal Treasurer Jim Chalmers on 13 June suggest that he is not prepared to compensate states which go down that path.

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NSW Libs at war: shut up or face sack

The Australian - Page 4 : 14 June 2022 -Original article by Brad Norington - PortMac.News Summary

NSW Transport Minister David Elliott has publicly accused Treasurer Matt Kean of "Treachery" against Scott Morrison during the federal election.

In a statement read out with his permission on 2GB, Elliott claims he was 'disgusted' that Kean had encouraged a television journalist to press Morrison on an embarrassing issue.

NSW Premier Dominic Perrotet has told Elliott and Kean to cease their feuding or face the sack, with Keen due to soon bring down the latest NSW budget

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QLD wants Jap investment to power hydrogen revolution

The Australian - Page Online : 14 June 2022 - Original article by Anthony Marx - PortMac.News Summary

Queensland deputy premier Steven Miles has told Japanese business leaders that it is looking for Japanese investment to help with its transition to clean energy, especially in hydrogen.

Currently in Japan on a trade mission, Miles says that the Queensland government has committed $2 billion to a renewable energy and hydrogen jobs fund, and that Queensland currently has 34 large-scale renewable energy projects operational.

With Brisbane due to host the Olympics in 2032, Miles also hopes to meet with Olympics infrastructure experts during his visit to Japan, with Tokyo having staged the Olympics in 2021.

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Banking apps 'Easy targets' in trojan war

The Australian - Page 5 : 14 June 2022 - Original article by Cliona O'Dowd - PortMac.News Summary

Research undertaken by mobile security company Zimperium reveals that 34 Australian banking apps are under attack from malicious backdoor programs known as trojans.

Report author Richard Melick suggests that Australia's poor hardwired infrastructure and subsequent high use of mobile devices makes it an 'Easy target' for such trojans, along with a lack of consumer protection in terms of how they are spread.

Melick contends the banks have turned people's phones into mobile ATMs, but that there is much less protection provided for their phones than for ATMs out on streets.

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Bitcoin in freefall as sell-off picks up pace

The Australian - Page 19 : 14 June 2022 - Original article by David Swan - PortMac.News Summary

Bitcoin fell below $US25,000 ($35,600) on 13 June, it being the first time since December 2020 that it has fallen under the $US25,000 mark.

Euro Pacific Capital chief economist Peter Schiff suggests that Bitcoin could fall to as low as $US20,000 and ethereum to as low as $US1,000.

Financial advisory and asset management firm Devere Group CEO Nigel Green claimed during the week ending 10 June that the price of bitcoin would recover significantly during the 2022 fourth quarter.

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Call for social impact investing 'Wholesaler' to woo capital

The Australian Financial Review - Page 13 & 19 : 14 June 2022 - Original article by James Eyers - PortMac.News Summary

A report prepared for the Department of the Prime Minister & Cabinet that the previous government never released calls for the creation of a "Social investing wholesaler" within the federal bureaucracy.

The proposed entity could help to encourage investment by private capital in the funding of social services, and Michael Triall, who chaired the taskforce that delivered the report and who is CEO of Social Ventures Australia, says it would be an Australian version of the UK's Big Capital Society.

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Remi Capital investors left broken by 'Glorified Ponzi scheme'

The Australian Financial Review - Page 6 : 14 June 2022 - Original article by David Marin-Guzman - PortMac.News Summary

Administrators of the failed property investment firm Remi Capital have indicated that their preliminary investigations suggest it may have been insolvent since its launch in 2018.

It was placed into administration in May, with its $124 million collapse resulting in hundreds of investors losing their life savings.

One investor told its first creditors' meeting that Remi Capital appeared to be nothing more than a "Glorified Ponzi scheme", while the meeting heard that Remi Capital had never completed a property development or lodged financial statements.

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Cleanaway won't waste its $2b energy gamble

The Australian Financial Review - Page 15 : 14 June 2022 - Original article by Simon Evans - PortMac.News Summary

Cleanaway will construct waste-to-energy plants in Victoria and Queensland, which are expected to be operational by 2026 or 2027.

Cleanway will tap into Macquarie's expertise in developing such plants, with Macquarie operating over 30 of them around the world.

Cleanaway has revealed at an investor day that the two waste-to-energy plants could cost as much as $2 billion, but it believes that diversification into waste-to-energy will not make it a riskier company for investors.

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Dispute at Nine papers over wages, diversity

The Australian - Page 20 : 13 June 2022 - Original article by David Ross - PortMac.News Summary

Nine Entertainment Company has proposed a pay rise of 3.5% for employees in its publishing division.

However, the journalists' union is seeking a wage rise of 6%; the MD of publishing, James Chessell, has warned that this is "Unrealistic" and would increase costs by $20m over the next three years.

Nine's management is also opposing a push for the media group's new enterprise bargaining agreement to include a diversity and inclusion target.

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Streaming services warn government to dump production quota plan

The Age - Page Online : 13 June 2022 - Original article by Zoe Samios - PortMac.News Summary

Launched in the week ending 10 June, 'Made in Australia' is a campaign by local producers, directors, writers and actors aimed at ensuring that global streaming services spend a certain level of revenue on local content.

New communications minister Michelle Rowland says Labor intends to regulate streaming services for Australian content, despite claims by both overseas and local streaming services that the adoption of local content quotas would have unforeseen consequences and would make the cost of production "Unpalatable".

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SMH admits its Rebel column was 'Wrong'

The Australian - Page 3 : 14 June 2022 - Original article by David Ross - PortMac.News Summary

The 'Sydney Morning Herald' has withdrawn a column in which it reported on Rebel Wilson's relationship with a woman, with celebrity columnist Andrew Hornery saying he had got it "Wrong" in writing the story.

The withdrawal of the column comes a day after editor Bevan Shields denied suggestions that the paper had "Outed" Wilson.

In apologising to Wilson, Hornery has denied that his attempts to contact her about his plans to write about her relationship with Ramona Agruma amounted to a threat.

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News publishers brace as Facebook rethinks deals

The Weekend Australian - Page 32 : 11 June 2022 - Original article by Alexandra Bruell, Keach Hagey - PortMac.News Summary

Facebook agreed to three-year content deals in 2019 with news publishers such as the 'New York Times' and the 'Washington Post'.

However, it is understood that Facebook has not given the publishers any indication that it intends to renew the deals in their current form, or indeed at all, forcing the organisations to contemplate the possible loss of tens of millions of dollars in revenue.

It is being suggested that Facebook is looking to move away from news content in favour of products that appeal to creators such as short-form video producers, so as to better compete with TikTok.

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Fuel frenzy a boon for Aussie uranium sector

The Australian - Page 16 : 13 June 2022 - Original article by Cameron England - PortMac.News Summary

Bell Potter claims that the 'Fundamentals could not be better" for Australian uranium companies Paladin Energy and Boss Energy, saying that the two firms are its top picks in the uranium sector.

The turmoil that has impacted fossil fuel production in the wake of Russia's invasion of Ukraine has also affected the uranium industry, with producers of nuclear energy historically sourcing a lot of uranium from Kazakhstan and Russia.

Bell Potter has a price target of $3.32 per share for Boss Energy, which is $1 up on its current price. Its target for Paladin is $1.06, $0.30 higher than its 10 June closing price of $0.76.

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Hunt for Metricon chief's assets

The Weekend Australian - Page 25 & 31 : 11 June 2022 - Original article by Yoni Bashan - PortMac.News Summary

Builders and contractors operating in New South Wales must secure insurance coverage with Insurance and Care NSW (icare) under its Home Building Compensation Fund scheme.

Icare is understood to have underwritten struggling building company Metricon's eligibility and certification by relying on deeds comprising the personal property of late CEO Mario Biasin and other company ­directors.

With it being revealed that Biasin moved his assets in an irregular fashion prior to his death, there are suggestions that the deeds have now essentially been breached or annulled because of his distribution of assets, or more simply because of his passing.

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Hurricane all but certain to hit housing market

The Australian - Page 20 : 14 June 2022 - Original article by Robert Gottliebsen - PortMac.News Summary

A downturn in Australia's housing construction market is looming in 2023; builders and home buyers with large mortgages will be mauled unless they understand what is coming.

Rising interest rates will reduce the borrowing limits for prospective home buyers, a trend that will be felt across all price segments of the housing market.

Likewise, house price falls will result in many people having negative equity, particularly those who took out mortgages over the last two years.

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ASX Don't come the raw prawn on revenue

The Australian - Page 13 & 19 : 14 June 2022 - Original article by David Ross - PortMac.News Summary

The ASX has written to salmon and prawn producer Tassal following a presentation it made to a Bell Potter conference.

The ASX noted there had been a fall in its share price following the presentation, along with a jump in the volume of Tassal shares being traded.

Some analysts have suggested that the presentation indicated an apparent change in its prawn production forecasts, but Tassal has told the ASX that there have been no alterations to its prawn production plans.