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All changes compared to 7am yesterday.

BREAKING | Israeli troops attacking Gaza

Israel says forces 'attacking' in Gaza Strip as Middle East conflict intensifies

The Israel Defense Forces says air and ground troops are "Currently attacking" in the Gaza Strip in what would be an escalation of the conflict. However there is uncertainty around the statement as the exact position of the troops and the nature of the attack remains unclear.

Israeli media are reporting that residents within four kilometres of the border have been ordered into bomb shelters.

The development comes after Israel earlier said it was massing troops along the Gaza frontier and calling up 9,000 reservists as days of cross-border fighting showed no sign of abating.

Just after midnight (local time), Israel Defense Forces tweeted: "IDF air and ground troops are currently attacking in the Gaza Strip."

It was not immediately clear how many troops the tweet was referring to, where they entered or what their objective was.

(See breaking story on PortMac.News)

Seven new AstraZeneca blood clot cases

News.com.au - Page Online : 14 May 2021 - Original article by Anthony Piovesan - PortMac.News Summary

The Therapeutic Goods Administration has advised that more Australians who received AstraZeneca's COVID-19 vaccine have experienced a rare blood clotting syndrome.

Three new cases of thrombosis with thrombocytopenia syndrome have been confirmed, while another four are being treated as probable cases of TTS.

All seven are aged between 59 and 81; all but one had been vaccinated after 8 April, when it was recommended that the rival Pfizer vaccine should be restricted to people below the age of 50.

A total of 18 Australians have now developed blood clots after receiving the AstraZeneca vaccine, including a woman who died.

Variety of Covid shots immune 'Boost'

Herald Sun - Page 12 : 14 May 2021 - Original article by Sue Dunlevy - PortMac.News Summary

The federal government's deal to buy 25 million doses of Moderna's COVID-19 vaccine means that many Australians may be given both mRNA and adenovirus-based vaccines.

Department of Health secretary Brendan Murphy says there may be some benefits to a 'Mix and match' approace, noting that some people could develop immunity to adenovirus vaccines such as the AstraZeneca jab. Moderna is developing booster shots that specifically target mutant strains of COVID-19; the deal with Moderna includes 15 million doses of these vaccines.

Australia must learn to 'Live with Covid'

The Australian - Page 1 & 5 : 14 May 2021 - Original article by Rosie Lewis - PortMac.News Summary

A University of Sydney-based task force contends that Australia's international borders must re-open as soon as possible, arguing that it is unrealistic to pursue a 'zero COVID-19' strategy.

The task force comprises prominent figures from a range of sectors, including business, academia and the arts.

Amongst other things, the task force contends that the nation's borders should be fully opened when the vaccination program has resulted in a sufficient level of herd immunity.

Australia has recorded six new cases of COVID-19 in hotel quarantine in the last 24 hours. Meanwhile, six returned travellers from Victoria are isolating for an additional 14 days; they had stayed on the same floor of an Adelaide quarantine hotel as a man who tested positive after returning to Melbourne.

Decade of deficits a 'Big risk'

The Australian Financial Review - Page 12 : 14 May 2021 - Original article by John Kehoe - PortMac.News Summary

Former Business Council of Australia president Tony Shepherd has expressed concern that the federal Budget is now forecast to remain in deficit for a decade and net debt is slated to top $1bn.

Shepherd has praised the federal government's economic management during the pandemic, but he contends that more fiscal responsibility is needed in the medium to long term.

Former Liberal leader John Hewson has in turn criticised the government's "Unconstrained" spending in the Budget, particularly the use of debt to fund recurrent expenditure.

Tesla China sales down 27%

Although Tesla does not report monthly sales or regional revenue, the China Passenger Car Association earlier this week estimated Tesla's Chinese sales were down 27% from March to just under 26,000 cars — much worse than the overall 10% decline in China's electric vehicle sales overall.

Yulong believes that the drop in sales is due to bad publicity that Tesla has suffered in the Chinese market since the start of April.

The company also has five Chinese regulatory agencies investigating the quality of its Shanghai-made Model 3 cars. Chinese media also reported that China's military had banned Tesla vehicles from entering its complexes, expressing concerns that onboard cameras could be used for spying — a charge Tesla CEO Elon Musk has denied.

(See full story on PortMac.News today)

Tax relief for higher earners '110% sure'

The Australian - Page 4 : 14 May 2021 - Original article by Patrick Commins - PortMac.News Summary

The federal government has urged Labor to clarify whether it will support the stage-three income tax cuts that are slated to take effect in 2024.

Finance Minister Simon Birmingham says the tax cuts would definitely go ahead under a Coalition government, and he contends that the case for proceeding with the cuts is stronger in the wake of the COVID-19 pandemic.

Jeremy Thorpe of PwC says the stage-three tax cuts are aimed at addressing the issue of 'bracket creep'; however, Labor has questioned the appropriateness of providing tax relief for people on high incomes given the forecast blowout in the deficit and net debt.

Weak wages outlook emerges as budget battleground

The New Daily - Page Online : 14 May 2021 - Original article by Euan Black - PortMac.News Summary

The Budget papers show that wages growth is forecast to be just 1.25% in 2020-21 and 1.5% in 2021-22.

In contrast, the consumer price index is expected to rise by 3.5% in 2020-21 and 1.75% in the following year. Shadow treasurer Jim Chalmers says the wage and inflation forecasts show that that the Budget will "Leave workers behind".

However, Indeed APAC economist Callam Pickering says the Treasury has been "Cautious" with its forecast for wages growth, and notes that factors such as a shortage of skilled labour points to an increase in wages.

Victoria pushes for gig economy rethink

The Sydney Morning Herald - Page Online : 14 May 2021 - Original article by Noel Towell - PortMac.News Summary

The Victorian government's Budget on 20 May will allocate $5m for reforms aimed at providing greater protection for workers in the gig economy.

The state government has accepted the key recommendations of an inquiry that was headed by former Fair Work Ombudsman Natalie James, including minimum employment standards for gig economy workers and a dispute resolution process.

Victoria's Industrial Relations Minister Tim Pallas has criticised the federal government's "Leadership vacuum" regarding the issue, and says greater action is needed at federal level.

Environment dept. tried to bury endangered species under spend

The Guardian Australia - Page Online : 14 May 2021 - Original article by Lisa Cox - PortMac.News Summary

Documents released under Freedom of Information laws show that the federal government attempted to suppress a research paper which showed that Australia's expenditure on endangered wildlife is just one-tenth that of the US.

The documents have revealed that senior officials in the Department of the Environment put pressure on the authors of the report to withhold it from publication.

The scientists were from the Threatened Species Recovery Hub, which is funded by the government.

Moving on diabetes

Herald Sun - Page 3 : 14 May 2021 - Original article by Brigid O'Connell - PortMac.News Summary

The Baker Heart & Diabetes Institute is seeking volunteers for a landmark study into a possible link between sedentary work and type 2 diabetes.

The 18-month study aims to determine whether office workers who use a standing desk and regularly walk around the office can improve glucose control and insulin levels.

An estimated one million adult Australians have type 2 diabetes. The study is open to people in Melbourne and Geelong who have desk-bound jobs.

oOh!Media bats off query on Sydney Trains contract

The Australian Financial Review - Page 22 : 14 May 2021 - Original article by Miranda Ward - PortMac.News Summary

Listed outdoor advertising group oOh!Media held its AGM on 13 May, although the company declined to comment on speculation that it has lost the Sydney Trains contract.

Chairman Tony Faure said it is not company policy to comment on live tenders.

Sydney Trains is expected to make a decision on the future of the contract in mid-2021.

Meanwhile, CEO Cathy O'Connor advised shareholders that the group's total revenue in Australia was 22% lower year-on-year in the first quarter of 2021.

Art fair framed by contemporary factors

The Australian - Page 6 : 14 May 2021 - Original article by Nicholas Jensen - PortMac.News Summary

One of Australia's leading art fairs, the Sydney Contemporary, will be held from 9-12 September.

The COVID-19 pandemic forced it to be cancelled in 2020, and Sydney Contemporary director Barry Keldoulis says the pandemic is likely to be a key theme of artworks to be showcased at the event.

He is upbeat about the viability of art fairs in the post-Covid environment.

India virus crisis could hit coal

The Australian - Page 16 : 14 May 2021 - Original article by Nick Evans - PortMac.News Summary

Mining services group Orica has posted an after-tax profit of $77m for the six months to 31 March, which is 54% lower than previously. Revenue was down 9%, while shareholders will receive an interim dividend of $0.075 per share.

Orica has noted that demand for its explosives products has been impacted by China's ban on Australian coal imports.

Orica CEO Sanjeev Gandhi adds that demand for Australian thermal coal in India may fall as that nation continues to battle a second wave of COVID-19.

ASX on three-day losing streak

The Australian - Page 19 : 14 May 2021 - Original article by Gerard Cockburn - PortMac.News Summary

The ASX retreated again on 13 May, with the S&P/ASX 200 shedding 0.9%t to close at 6,882.7 points.

The local bourse took its lead from Wall Street, which fell sharply in response to a higher-than-expected inflation rate for April.

Fortescue Metals Group was down 4.05% at $23.44, Afterpay fell another 5.4% to $84.50 and Qantas eased 2.2% to finish at $4.40.

However, the ANZ Bank added 0.85% to end the session at $27.15 and GrainCorp was up 5.2% at $5.43.