Latest updates on Key Economic Indicators:

Australian Dollar: $0.6918 USD (down $0.0128)

Iron Ore Jul Spot Price (SGX): $119.50 USD (down $6.75 USD)

Oil Price (WTI): $109.56 USD (down $6.53 USD)

Gold Price (17 Jun): $1,840.25 USD (down $16.83 USD)

Gold Price (20 Jun): $1,840.60 USD (up $0.35 USD)

Copper Price (CME): $4.0115 (down $0.0900 USD)

Bit-coin: $20,560.59 (up 15.43% in the last 24 hours)

Dow Jones: 29,888.78 (down 38.29 points on Thursday's close)

All changes compared to 7am Friday, except gold and Bitcoin

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Australia sends first four M113A4 APCs to Ukraine

The first four M113AS4 armored personnel carriers handed over to Ukraine by the Australian government have left the RAAF Base Amberley.

That's according to the Ministry of Defense of Australia, Ukrinform reports.

Loaded into a Ukrainian Antonov AN-124 aircraft, the four vehicles are the first of 14 M113AS4s to be provided by Australia, the report says.

The Australian government’s military assistance package consists of over AUD 285 million worth of support including Bushmaster Protected Mobility Vehicles, M777 Howitzers; anti-armour weapons, ammunition, unmanned aerial systems and a range of personal equipment.

PM Albanese said the latest shipment of military assistance responds to a direct request by the Minister of Defence of Ukraine for additional vehicles and demonstrates Australia’s sustained commitment to the people of Ukraine.Prime Minister,

The M113AS4 Armored Personnel Carrier is a longstanding in-service ADF armored fighting vehicle capability, designed to transport infantry soldiers on the battlefield. 

Ukraine : NATO warns of long war

NATO Secretary-General Jens Stoltenberg said supplying state-of-the-art weaponry to Ukrainian troops would boost the chance of freeing its eastern region of Donbas from Russian control, Germany's Bild am Sonntag newspaper reported. read more

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," Stoltenberg was quoted as saying.

Russia said on Sunday its offensive to win Sievierdonetsk itself was proceeding 

Luhansk Governor Serhiy Gaidai told Ukrainian TV that fighting made evacuations from the city impossible, but that "all Russian claims that they control the town are a lie. They control the main part of the town, but not the whole town."

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'The new Bert' : Golden night for Hamish

The Australian - Page 3 : 20 June 2022 - Original article by Mackenzie Scott, Emily Kowal - PortMac.News Summary

'Lego Masters' host Hamish Blake was a big winner at the 62nd TV Week Logie Awards. He won the Gold Logie for the most popular personality, while he was presented with the inaugural Bert Newton Award for Most Popular Presenter.

'Lego Masters' itself won the Logie for the most outstanding comedy or entertainment program.

Richard Roxburgh and Anna Torv respectively won the Logies for the most outstanding actor and actress, while 'The Project' won the award for the most popular panel or current affairs program.

Bruce Mcavaney was inducted into the Logie hall of fame.

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Employers warn of economic suicide in 5%-plus pay claims

The Australian - Page 1 & 4 : 20 June 2022 - Original article by Ewin Hannan - PortMac.News Summary

Unions across a range of sectors will push for large pay rises for their members in the wake of the latest minimum wage case.

The Australian Manufacturing Workers' Union has flagged a push for an annual wage rise of 5.8 per cent for the first two years of new enterprise agreements, while the Finance Sector Union is seeking a 6% pay rise for Nat­ional Australia Bank and Westpac employees.

Australian Industry Group CEO Innes Willox says few employers can afford excessive wage claims in the current environment, and he warns that more businesses would have to cut jobs.

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Ita urges Labor on media reform

The Weekend Australian - Page 5 : 18 June 2022 - Original article by James Madden - PortMac.News Summary

Media industry veteran and ABC chair Ita Buttrose has used the annual Andrew Olle lecture to urge the federal government to take action on freedom of the press.

Amongst other things, she has called for an overhaul of Australia's defamation laws, greater legal protection for whistleblowers and action to ensure that the media is able to continue to disclose "Uncomfortable truths" without fear of being censored due to national security.

Buttrose also emphasised that fairly and impartially reporting the facts of a story is still the basis of good journalism.

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Southern Cross regional TV deal in limbo

The Age - Page Online : 20 June 2022 - Original article by Zoe Samios - PortMac.News Summary

There had been expectations that any deal for the sale of Southern Cross Media Group's regional television stations would be finalised by 1 July.

Southern Cross hired advisory firm Grant Samuel to handle the sale process in March, and first-round bids were slated to be submitted in May.

However, it is uncertain whether there were any formal bids, and banking industry sources have suggested that the sale process failed to attract a price that was deemed to be reasonable for Southern Cross shareholders.

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Workers jumping ship as jobs outlook brightens

The Australian Financial Review - Page 6 : 18 June 2022 - Original article by Georgie Moore - PortMac.News Summary

Data from the Reserve Bank of Australia shows that nearly 440,000 workers switched jobs in the three months to February.

This is the highest level of job mobility in more than a decade, and the trend is expected to prompt employers to offer pay rises in order to retain staff or to recruit them from other firms. The proportion of workers who changed jobs fell to its lowest level in more than two decades in mid-2020, as the COVID-19 pandemic hit the Australian economy.

However, job mobility has steadily increased since mid-2021, particularly among highly-skilled workers.

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'Workforce Australia' : Burke says 'Too late' to dump ScoMo plan 

The Guardian Australia - Page Online : 20 June 2022 - Original article by Sarah Martin - PortMac.News Summary

The federal government is under pressure to scrap or delay the introduction of the points-based mutual obligation system for JobSeeker recipients.

Employment Minister Tony Burke says a more flexible mutual obligation system is a good idea, but he wants to ensure that people are not unfairly penalised under the new system, which takes effect on 1 July.

The current mutual obligation system requires the unemployed to apply for 20 jobs each month.

Burke also says the government will look at increasing the JobSeeker payment in the wake of the latest rise in the minimum wage.

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Under-55s & higher educated voters backed Labor

The Guardian Australia - Page Online : 20 June 2022 - Original article by Paul Karp - PortMac.News Summary

A study of voters by the Australian National University and researchers at the Comparative Study of Electoral Systems has found that 34.9% of people under 55 who voted for the Coalition at the 2019 federal election voted for someone else at the 2022 election.

Those under 55 were one of the two groups that were found most likely to have abandoned the Coalition, along with the highly educated.

Women were also seen as playing a part in Labor's success, but that was largely viewed as a result of a higher vote by them for the Greens, with Labor then getting their preferences. 

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'I didn't release top-secret information' says Dutton

The Australian - Page 2 : 20 June 2022 - Original article by Ben Packham - PortMac.News Summary

Federal Opposition leader Peter Dutton continues to attract scrutiny over his recent claim that the US may agree to sell two nuclear-powered submarines to Australia by 2030.

The former defence minister has rejected suggestions that his comments constituted the release of classified information, contending that it was his "Professional judgment" that the US would agree to the plan.

Dutton maintains that Australia needs to acquire nuclear submarines quickly.

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Collins-class refit in trouble over stand-off with designers

The Australian - Page 1 & 2 : 20 June 2022 - Original article by Cameron England - PortMac.News Summary

The navy and Australia's naval shipbuilder, ASC, are involved in a $6 billion program that will extend the life of the Collins-class submarines by a decade.

The submarines were designed by Swedish company SAAB, but the navy and ASC are said to be shunning SAAB so far as the refit is concerned, and have so far only given it a minor role in the refit program.

Defence insiders claim that the refit program will be in doubt if SAAB is not fully involved in it.

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Independent expert panel to review RBA

The Australian Financial Review - Page 3 : 20 June 2022 - Original article by John Kehoe - PortMac.News Summary

Reserve Bank of Australia governor Philip Lowe had pushed for a review of it to be undertaken by the central bank itself, in partnership with the Treasury.

However, Treasurer Jim Chalmers has advised that a panel of independent experts will carry out the review.

Amongst other things, it is expected to consider issues such as the RBA's inflation target, the composition of its board and the processes for making appointments to the board.

A group of senior economists recently urged Chalmers to commission an independent review of the central bank.

The review is slated to report its findings by June 2023.

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Australia helps net deal on fishing subsidies at WTO

The Australian Financial Review - Page 8 : 20 June 2022 - Original article by Andrew Tillett - PortMac.News Summary

The World Trade Organization has reached a new agreement on fisheries subsidies, with Trade Minister Don Farrell noting that it has come after 20 years of negotiations.

He says it is the first significant multilateral agreement that the WTO has reached in a number of years, and that its conclusion should give people confidence that the WTO is capable of producing results.

Farrell also noted that Australia had "Pushed back" on attempts to weaken rules on agricultural subsidies, while he welcomed moves by trade ministers to reform the WTO.

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Heavy industries in regions could cut emissions by 80% & jobs bonanza

The Guardian Australia - Page Online : 20 June 2022 - Original article by Graham Readfearn - PortMac.News Summary

The Australian Industry Energy Transitions Initiative contends that the nation's industrial sector could slash greenhouse emissions using a range of known technologies along the supply chain.

The AITEI's report argues that carbon emissions could be reduced by about 69.5 million tonnes a year using technologies that are largely proven and are in some instances already commercially available.

However, decarbonising heavy industries would require a significant increase in renewable energy generation, although this could in turn create between 178,000 and 372,000 jobs. 

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Vanuatu calls on Australia to back its UN bid

The Guardian - Page Online : 20 June 2022 - Original article by Kate Lyons - PortMac.News Summary

Vanuatu wants the International Court of Justice to issue an advisory opinion on climate change.

With the ICJ being the world's highest court, issuing such an opinion could have a major impact on climate change litigation, as well as setting domestic law, along with international, regional and domestic disputes on climate harm.

In order to get the ICJ to do so, Vanuatu must get the majority of the United Nations general assembly to vote in favour of presenting a question on the climate crisis to the ICJ in September.

Leading Australian and Pacific NGOs have urged Australia to show its commitment for the Pacific region by voting in favour of Vanuatu's proposal.

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UK deploys navy ships to Indo-Pacific

The Australian - Page 2 : 20 June 2022 - Original article by Geoff Chambers - PortMac.News Summary

Royal Navy First Sea Lord Sir Ben Key is sending two of its offshore patrol vessels to the Indo-Pacific on a five-year mission.

They are being deployed as a result of Boris Johnson's 'Indo-Pacific tilt', with Sir Ben saying that the 'Indo-Pacific tilt' is the result of the UK's strong economic, cultural and historical ties to the region.

He says the type of work that the 'HMS Spey' and the 'HMS Tamar' will be involved in will include the monitoring of fishing grounds for illegal activities and the patrolling of exclusive economic zones.

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Aussie 'Drone gun' bringing down cartels

The Australian Financial Review - Page 11 : 20 June 2022 - Original article by Matthew Cranston - PortMac.News Summary

Australian company DroneShield supplies its technology to a number of defence forces and a range of US agencies, including the Department of Homeland Security.

It is understood that the Department is using DroneShield's DroneGun in its fight against Mexican drug cartels, which use drones to bring drugs across the US border and undertake surveilliance on the Department's agents.

The DroneGun essentially acts as a 'Jammer'; it brings a drone to ground without damaging it, enabling users to retrieve whatever data has been stored in it.

Demand for DroneShield's technology is expected to see its revenue double in calendar 2022.

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New South Wales to trial $780m shared equity scheme for first homebuyers

The Guardian Australia - Page Online : 20 June 2022 - Original article by Christopher Knaus - PortMac.News Summary

The NSW government plans a two-year trial of a $780 million shared equity scheme for first-home buyers; eligible participants will be to enter the property market with a deposit of just 2%.

The scheme will be means-tested and will include a cap on the value of the property.

Similar schemes already operate in Western Australia, South Australia, Tasmania, Victoria and the UK, while Prime Minister Anthony Albanese proposed a shared equity scheme in the lead-up to the federal election.

(See full story on PortMac.News today)

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Westpac chases childcare sector in lending push

The Australian Financial Review - Page 18 : 20 June 2022 - Original article by Ayesha de Kretser - PortMac.News Summary

Westpac will implement changes to its lending practices as regards the childcare sector, claiming that the changes will make it easier for childcare operators to get the funds they require in order to expand.

Westpac notes that the changes are aimed at aligning with the NSW government's new $5 billion childcare growthcare plan, with the federal government and the Victorian government also having increased funding for childcare.

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Flat plastic wine bottles turn Coles liquor shelves greener

The Australian Financial Review - Page Online : 20 June 2022 - Original article by Simon Evans - PortMac.News Summary

Some of Coles Group's liquor outlets have begun selling wine in flatter bottles made out of recycled PET plastic.

The environmentally-friendly bottles have been developed by Packamama, and are being made for the Australian market in conjunction with Visy.

Packamama founder and CEO Santiago Navarro says the wine sold in the bottles currently has a 'Life' of about 19 months, but he suggests that this could be extended to five or six years as new recycled materials are used.

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Australians dudded by faulty HiLux, Prado & Fortuner vehicles able to apply for como

abc.net au - Page Online : 20 June 2022 - Original article by Judd Boaz - PortMac.News Summary

The Federal Court ruled in April that Toyota HiLux, Prado and Fortuner vehicles sold between 1 October 2015 and 23 April 2020 had faulty diesel particulate filters, and that the defective filters reduced the value of the vehicles by 17.5%.

An estimated 260,000 drivers purchased the defective vehicles, and it is estimated that Toyota could be looking at a compensation bill of over $2.7 billion.

Drivers who purchased one of the faulty vehicles can apply for compensation from 20 June.

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Coal, gas to smooth transition to clean power

The Sydney Morning Herald - Page Online : 20 June 2022 - Original article by David Crowe, Mike Foley - PortMac.News Summary

The Energy Security Board has stated that the level of capacity needed to be built over the period until 2050 in order to provide reliable energy supply is 50 times that of the original Snowy Mountain scheme.

Its forecast comes as the ESB prepares to release its draft plan governing the new 'Capacity mechanism' that aims to reward power generators that can meet the need for new energy supplies.

It is understood that the plan will give the states the option to decide whether to include coal and gas as part of the mechanism.

It is believed that the ESB will recommend that existing generators should be included in the scheme, including coal and gas.

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Snowy boosts green image with wind deal

The Australian - Page 15 : 20 June 2022 - Original article by Perry Williams - PortMac.News Summary

Snowy Hydro has signed a 15-year deal to purchase power from CWP Renewables' proposed Uungula wind farm in central NSW.

The wind farm is due to commence operations in 2026 and will produce 414 megawatts, with Snowy Hydro to buy 200MW of that output.

The deal with CWP is part of Snowy Hydro's $2 billion plan to back up irregular renewable energy supply with its existing pumped hydro generation in order to push down electricity prices and introduce new com­petition to the energy market.

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Demand for rooftop solar batteries surge

The Guardian Australia - Page Online : 20 June 2022 - Original article by Caitlin Cassidy, Graham Redfearn - PortMac.News Summary

Solar retailers have reported a surge in sales enquiries as energy prices in eastern Australia soar, while Solar Victoria CEO Stan Krpan says it has experienced a spike in inquiries about rebates for solar batteries in the last fortnight.

Clean Energy Council CEO Kane Thornton notes that over three million Australian businesses and households already have solar systems installed, and that 2022 is likely to be another "strong year" for small-scale solar and storage systems.

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Qantas chief wants help to kick-start biofuels

The Australian Financial Review - Page 19 : 20 June 2022 - Original article by Ayesha de Kretser - PortMac.News Summary

Qantas has released details of a partnership with Airbus that will see an investment of up to $200 million in the development of a sustainable fuel industry in Australia.

Qantas CEO Alan Joyce has called on the new federal government to assist in the establishment of a sustainable aviation fuel sector in Australia; this type of fuel is viewed by airlines as an important element in their efforts to reduce carbon emissions.

Its use can reduce emissions by 80 per cent when compared to kerosene, and it can be used by existing aircraft without the need for modifications.

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Southern Cross leaps into 'Attention' economy

The Australian Financial Review - Page 28 : 20 June 2022 - Original article by Miranda Ward - PortMac.News Summary

Southern Cross Austereo will seek to measure radio listeners' attention levels, in partnership with Amplified Intelligence.

Southern Cross CEO Grant Blackley says the level of attention paid to audio is exceptionally strong, noting that unlike many platforms radio is essentially one-to-one engagement.

The initial feasibility study focused on Southern Cross Austereo's radio stations, but the media group plans to extend this to its podcasts.

Blackley is confident that media agencies and advertisers will value the new attention metric.

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Journalism centre in turmoil

The Australian - Page 20 : 20 June 2022 - Original article by Noah Yim, James Madden - PortMac.News Summary

The Judith Neilson Institute for Journalism and Ideas was intended to independent and non-partisan when it was founded in 2018.

However, concern about a change in the direction of the not-for-profit organisation and its funding priorities is believed to have prompted four of its independent directors to resign.

The institute, which provides grants for journalists and media organisations, was founded by billionaire philanthropist Judith Neilson.

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Home build cost crunch worsens

The Australian - Page 4 : 20 June 2022 - Original article by Geoff Chambers - PortMac.News Summary

New figures show that the cost of building a house in Australia has increased by 15.4% in the last year.

The cost of building materials such as timber, steel, clay bricks and plywood has also increased significantly over the last 12 months, while a shortage of tradespeople has pushed back the slated completion dates for homes across the nation.

Master Builders Australia CEO Denita Wawn says the price and availability of land is the biggest contributor to the rising cost of building a home.

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Auction clearance rates slump as volumes jump

The Australian Financial Review - Page 3 : 20 June 2022 - Original article by Michael Bleby - PortMac.News Summary

Preliminary data from CoreLogic shows that Sydney's residential auction clearance rate was 55.4% in the week to Saturday, with 793 auctions scheduled.

The preliminary clearance rate in Melbourne was 57.9%; this followed a final clearance of 52.4% for the previous week, which was affected by the Queen's Birthday holiday.

The national preliminary clearance rate fell to 57.8%, with the number of properties listed for auction nationwide rising by 83%t to 2,526 after the long weekend.