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US ships $1 billion of arms to Ukraine | Olivia Newton-John dies at 73 | Biosecurity | Climate bill 'Aligns US and Australia' | Kookaburras win 7th Games gold | $A, Iron, Oil & Copper Up; Gold Down.

Source : PortMac.News | Independent :

Source : PortMac.News | Independent | News Story:

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09-08-22 | US ships $1B of arms to Ukraine | Climate | $A Up
US ships $1 billion of arms to Ukraine | Olivia Newton-John dies at 73 | Biosecurity | Climate bill 'Aligns US and Australia' | Kookaburras win 7th Games gold | $A, Iron, Oil & Copper Up; Gold Down.

News Story Summary:

Latest updates on Key Economic Indicators:

Australian Dollar: $0.6988 USD (up $0.0083 USD)

Iron Ore Sep Spot Price (SGX): $111.35 USD (up $2.65 USD)

Oil Price (WTI): $90.40 USD (up $1.39 USD)

Gold Price: $1,789.48 USD (down $1.72 USD)

Copper Price (CME): $3.5865 (up $0.0355 USD)

Bit-coin: $24,042.22 (up 3.28% in the last 24 hours)

Dow Jones: 32,832.54 (up 29.07 points on Friday's close)

All changes compared to 7am yesterday.


US shipping $1 billion more rockets, other arms to Ukraine

The Biden administration confirmed Monday it is shipping its biggest yet direct delivery of weapons to Ukraine as that country prepares for a potentially decisive counteroffensive in the south against Russia, sending $1 billion worth of rockets, ammunition and other material to Ukraine from Defense Department stockpiles.

The new U.S. arms shipment would further strengthen Ukraine as it mounts the counteroffensive, which analysts say for the first time could allow Kyiv to shape the course of the rest of the war, now at the half-year mark.

Kyiv aims to push Russian troops back out of Kherson and other southern territory near the Dnipro River.

Russia in recent days was moving troops and equipment in the direction of the southern port cities to block the Ukrainian counteroffensive.

“At every stage of this conflict, we have been focused on getting the Ukrainians what they need, depending on the evolving conditions on the battlefield,” Colin Kahl, undersecretary of defense for policy, said Monday in announcing the new weapons shipment.

Russian forces declare their readiness to blow up Zaporizhzhia nuclear plant:

The press service of Energoatom National Nuclear Energy Generating Company said this on Telegram, Ukrinform reports.

"The Russians do not hide their plans and are openly blackmailing the whole world, declaring that they have mined the Zaporizhzhia NPP and that they are ready to blow it up," the report reads.

According to Energoatom, the head of the radiation, chemical and biological defense troops of the Russian Federation, Major General Valeriy Vasiliev, who currently commands the ZNPP garrison, said that "There will be either Russian land or a scorched desert."

Zelensky has video call with Bill Clinton:

President Zelenskyy has had a video meeting with President Bill Clinton.

The Head of State thanked the US for the comprehensive support at various levels, as well as for the personal support of Ukraine from Bill Clinton and his wife, in particular for the participation in the Summit of First Ladies and Gentlemen.

“The United States helps us prevent Russia from freezing this conflict. And this is exactly what Russia wants. We are well aware of what happens with “frozen conflicts”. It stretches for years, for decades. We cannot allow that,” Zelenskyy said.

Plot To Kill Top Officials Foiled:

The SBU said it arrested "Killers from the Russian special services" who were plotting the assassinations of Defense Minister Oleksiy Reznikov and military intelligence boss Kyrylo Budanov.

It published a video on Telegram showing an armed group subduing and handcuffing two men in civilian clothing who were approaching a car.

The arrests took place in Kovel in northwestern Ukraine. The SBU said one of the alleged plotters arrived in the country from Russia via Belarus.

It claimed the men were preparing "the physical liquidation" of the two top officials and an unnamed "Ukrainian activist." It said each killing was to be rewarded with a sum of $100,000 to $150,000.


Historic climate bill 'Aligns US and Australia'

The Australian - Page 2 : 9 August 2022 - Original article by Ben Packham - PortMac.News Summary

Legislation passed by the US Senate puts the US on path to cutting its greenhouse gas emissions by 40% by 2030.

Its passage follows the recent passing of similar legislation in Australia, which calls for a 43% cut to emissions within the same period.

US Secretary of State Wendy Sherman says the US bill will align it and Australia in terms of dealing with the issue of climate change in the Pacific, with Sherman having met with Foreign Minister Penny Wong for talks on 8 August.

With China intending to continue to lift its greenhouse gas emissions until 2030, the US and Australia want Pacific nations to view China as the "Climate enemy", rather than the West.


Penny Wong calls for China restraint

Brisbane Times - Page Online : 9 August 2022 - Original article by David Crowe - PortMac.News Summary

Foreign Minister Penny Wong has again called for "Restraint and de-escalation" from China after four days of military drills around Taiwan.

China has flagged its intention to continue the drills, ignoring urging from countries in the region to halt the drills for fear that they could lead to a miscalculation.

Visiting US deputy secretary of state Wendy Sherman, who met with Wong for talks on 8 August, claims the extension of the drills is a further sign of China's "Completely disproportionate response" to the recent visit by US House Speaker Nancy Pelosi to Taiwan.


Dutton wouldn't visit Taiwan but says Pelosi was right to go

The Australian Financial Review - Page 4 : 9 August 2022 - Original article by Phillip Coorey - PortMac.News Summary

Opposition Leader Peter Dutton says that US House Speaker Nancy Pelosi was right to visit Taiwan, while he claims that China's reaction to her visit was "Completely over the top".

However, he says he would not visit Taiwan if he was invited to do so, as it would be viewed as unnecessarily provocative.

Dutton's backing of Pelosi's visit puts him at odds with Foreign Minister Penny Wong, who declined to endorse it, while Dutton contends that Labor is starting to realise that the comments he made about China when in government were not alarmist.


National plan to tackle growing threats to biosecurity

Brisbane Times - Page Online : 9 August 2022 - Original article by Mike Foley - PortMac.News Summary

Federal Agriculture Minister Murray Watt will announce on 9 August that Australia will develop its first national biosecurity plan, with Watt saying the states and territories have agreed to the idea.

It will look at how Australia can deal with the growing financial and environmental threats posed by exotic pests and diseases, with a 2020 CSIRO biosecurity report noting that incursions by exotic pests and diseases were increasing in volume and complexity.

The CSIRO has estimated that pests, weeds and diseases cost Australia $25 billion a year.


Calls for boost to foreign food aid

The Australian - Page 2 : 9 August 2022 - Original article by Sarah Ison - PortMac.News Summary

The Australian Council for International Development has asked the federal government to increase its foreign aid by over $150 million to help countries affected by famine.

AICD CEO Marc Purcell says that increasing food aid will help in prevent destabilisation, with Purcell noting that there have already been 17 countries where food insecurity has led to civil unrest.

Plan International Australia CEO Susanne Legena contends that millions will be "Dead or dying before the end of the year" if the federal government does not provide more foreign food aid in its October budget.


Unions urge end of EBA pay axe 'Rort'

The Australian Financial Review - Page 3 : 9 August 2022 - Original article by David Marin-Guzman - PortMac.News Summary

Workplace Relations Minister Tony Burke said on 8 August that the ability of employers to reduce pay and conditions by terminating enterprise agreements during bargaining will be on the agenda at the federal government's jobs summit in September.

Businesses have defended the termination of agreements during bargaining, claiming that it acts as a 'Circuit-breaker' to achieve productivity gains, but unions claim that it unfairly gives employers massive leverage in bargaining.

ACTU secretary Sally McManus says the issue does not need to be discussed with business, and that the government should act immediately to cancel what she calls a "rort".


Billions on table for aged-care staff in pay case

The Australian - Page 1 & 4 : 9 August 2022 - Original article by Stephen Lunn - PortMac.News Summary

The federal government has told the Fair Work Commission's aged-care wage case that it supports a minimum wage increase for aged-care workers, and will commit to funding whatever increase the FWC decides to award them.

Unions have asked the FWC to award aged-care workers a minimum increase of 25%, while the Health Services Union's national president Gerard Hayes contends that the aged care sector needs extra funding of $20 billion over four years for it to attract and retain a workforce that will meet the needs of older Australians.


Builders and baristas share in JobKeeper billions

The Sydney Morning Herald - Page Online : 9 August 2022 - Original article by Shane Wright - PortMac.News Summary

The Australian Tax Office has released data on the industries and suburbs that benefited the most from the former Coalition government's $88bn JobKeeper wage subsidy scheme.

More than one million business entities received financial support via the scheme, headed by the construction and hospitality sectors.

Meanwhile, the Melbourne suburbs of Cranbourne, Werribee, Hoppers Crossing and Craigieburn were most dependent on JobKeeper, with some 80,000 residents receiving the subsidy.

The ATO data also shows that people aged 18-24 withdrawal the highest amounts from their superannuation fund via the government's early access scheme in 2019-20; they were also the cohort with the lowest super balance.


Labor plans to start work on social housing next year

The Australian Financial Review - Page 2 : 9 August 2022 - Original article by Tom McIlroy  - PortMac.News Summary

Federal housing and homelessness minister Julie Collins has told the National Homelessness Conference that homelessness is no longer an issue that impacts just a few people in society.

Collins said the federal government wanted to renew cooperation with the states and territories on housing policy, while she says that "Safe and affordable housing is central to the dignity of all Australians".

Collins said the federal government would start work on the construction of 30,000 social and affordable home around Australia in 2023, although Greens MP Max Chandler-Mather contends Labor's plans on social housing will not "Even come close to even touching the surface of Australia's massive housing crisis".


Labor escalates fight against 'Tricky' offshore marketing hubs

The Australian Financial Review - Page 5 : 9 August 2022 - Original article by Jacob Greber, Angela Macdonald-Smith, Mark Ludlow - PortMac.News Summary

Assistant treasury minister Andrew Leigh says Labor does not want to see an economy where multinationals see tax loopholes as a "Shortcut to success".

With it having been revealed that Shell is using a marketing hub in Singapore to sell Queensland gas to offshore customers, Leigh says Labor will give the Australian Tax Office the resources it needs to pursue the "Lurks and loopholes such as marketing hubs" that multinationals use.

Leigh claims that smaller resources companies should not be placed at a competitive disadvantage because they do not use marketing hubs and other "Tricky tax arrangements".


Covid becomes Australia's 3rd most common cause of death

The Guardian Australia - Page Online : 9 August 2022 - Original article by Melissa Davey - PortMac.News Summary

Analysis by the Actuaries Institute's pandemic mortality working group suggests that COVID-19 is likely to have been the third-leading cause of death in Australia during the first seven months of 2022.

It estimates that there were about 7,100 deaths from COVID-19 between January and July, compared with just 5,500 expected deaths from cardiovascular disease and 5,400 expected deaths from lung cancer.

Data from state and territory health departments show that there were 9,550 coronavirus-related deaths nationwide between January and June; the Actuaries Institute's analysis is based on deaths for which COVID-19 was the primary cause. 


Fears crypto chill to close exchanges

The Australian Financial Review - Page 20 : 9 August 2022 - Original article by Max Mason, Jessica Sier - PortMac.News Summary

McGrathNicol partner and head of advisory Matt Fehon contends that the Australian cryptocurrency exchange industry is looking at a rationalisation of as much as 50%, in what has been described by experts as a looming 'Crypto contagion'.

His comments come after a week in which Australian-founded exchange Zipmex filed for bankruptcy protection in Singapore and $US190 million ($273 million) was stolen from a cryptocurrency cross-bridge known as Nomad.

McGrathNicol director John Feeney says he cannot predict when the collapses of exchanges will begin, but says it will be pretty soon.


Suncorp says floods force price jumps

The Australian Financial Review - Page 1 & 18 : 9 August 2022 - Original article by Liam Walsh - PortMac.News Summary

Shares in Suncorp ended down 4.6 per cent at $11.14 on 8 August after it reported that its full-year cash profit fell 36.7% to $673 million.

Suncorp's net profit after tax declined 34.1% to $681 million on a statutory basis, while its final dividend of $0.17 was significantly down on the $0.40 dividend it had paid a year earlier. In reporting its full-year results.

Suncorp reported that home insurance prices had risen by the most since 2013, in part as a result of devastating floods, and that increases of a similar nature were likely in 2022.


Axe hangs over Clive's 'Clean' coal project

The Australian - Page 1 & 5 : 9 August 2022 - Original article by Sarah Elks - PortMac.News Summary

Clive Palmer's Waratah Coal contends that its proposed high-efficiency low-emissions coal-fired power plant in Queensland's Galilee Basin will be carbon neutral.

The $3.5bn plant would have an operational life of 50 years, and internal documents show that it would emit 9.427 million tonnes of carbon ­dioxide a year at its full capacity of 1,400MW.

The project has the support of the local community, but it now seems unlikely to proceed given the state government's concerns about the plant's potential impact on the environment.


Ampol moves into EV charging with 5 pilot sites

The Australian Financial Review - Page 15 : 9 August 2022 - Original article by Angela Macdonald-Smith - PortMac.News Summary

Petrol and diesel supplier Ampol is looking to enter the retail electricity sector and has secured an energy retailing licence.

It has also opened its first AmpCharge electric vehicle charging site at an Ampol Woolworths Metro store in the Sydney suburb of Alexandria; it is the first of 120 charging sites that Ampol intends to roll out across Australia by December 2023.

Each site will have the ability to deliver charge to an electric vehicle at up to 150kw and have the capacity to charge at least two vehicles concurrently.


India tempted by Russian coal

The Australian - Page 13 & 17 : 9 August 2022 - Original article by Perry Williams, Nick Evans - PortMac.News Summary

Indian steel maker Tata Steel relies on Queensland for 60 per cent of its coking coal needs, amounting to $4.3 billion in trade a year.

Tata Steel CEO TV Narendran says Indian steel consumption or production is tipped to double in the next 10 years, which presents an opportunity for Australia to double its coking coal exports to India over that period.

However, he will tell the Queensland government that a failure to develop new supplies may leave Indian steel makers with no choice but to buy cheaper coking coal from Russia, despite current sanctions on Moscow.


Bidders lining up for One Rail's east coast business: Aurizon

The Australian Financial Review - Page 13 & 18 : 9 Aug 2022 - Original article by Lucas Baird - PortMac.News Summary

Aurizon released its full-year results on 8 August, reporting a 15% fall in after-tax profits to $513 million, while cutting its final dividend from $0.144 to $0.109 per share.

Aurizon recently acquired One Rail Australia for $2.4 billion, but the Australian Competition & Consumer Commission only approved it on condition that Aurizon divest One Rail's east coast business.

Aurizon CEO Andrew Harding says that there a number of parties interested in buying the business, while it could also look at demerging it.


Stan will build on success with a new, multi-year Sony content deal

The Australian Financial Review - Page 17 : 9 August 2022 - Original article by Max Mason - PortMac.News Summary

Nine Entertainment's Stan streaming service has secured exclusive Australian rights to new scripted dramas from Sony Pictures International.

The deal also includes a large a back catalogue of popular TV shows and films.

Stan has previously locked in content deals with other US companies, including Lionsgate, MGM and Paramount.

The release of Nine's 2021-22 financial results on 24 August will include an update on Stan's subscriber numbers and earnings guidance for the current financial year.

Stan had 2.5 million active subscribers in February.


Victoria 2026: What to expect from the next Commonwealth Games

The New Daily - Page Online : 9 August 2022 - Original article by Genevieve Thorpe - PortMac.News Summary

Australia will host the Commonwealth Games for the fifth time in 2026.

The Games will be held across multiple cities for the first time, with the opening ceremony to be held in Melbourne and most of the events to be hosted by regional cities such as Ballarat, Geelong, Bendigo and Shepparton.

The decentralised model may allow Commonwealth countries or regions that have never hosted the event to do so.

Meanwhile, diving star Melissa Wu has been chosen as Australia's flagbearer for the closing ceremony in Birmingham. Australia topped the medal tally at Birmingham with 67 gold medals, 57 silver and 54 bronze.


ASX flat, copper stocks soar after BHP play

The Australian Financial Review - Page 28 : 9 August 2022 - Original article by Emma Rapaport - PortMac.News Summary

The Australian sharemarket closed slightly higher on 8 August, with the S&P/ASX 200 adding 0.1% to close at 7,020.6 points.

OZ Minerals rose 35.25% to $25.59 in response to BHP's takeover bid, Lake Resources was up 15.6% at $1.07 and Redbubble advanced 16.7% to $1.33.

However, Suncorp Group shed 4.7% to finish at $11.11 and Aurizon Holdings was down 3.5% at $3.90.


'News Story' Summary By : Staff-Editor-02

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