Latest updates on Key Economic Indicators:

Australian Dollar: $0.7113 USD (up $0.0009 USD)

Iron Ore Sep Spot Price (SGX): $109.45 USD (down $2.55 USD)

Oil Price (WTI): $92.09 USD (down $1.94 USD)

Gold Price (12 Aug): $1,801.89 USD (up $12.06 USD)

Gold Price (15 Aug): $1,815.50 USD (up $13.61 USD)

Copper Price (CME): $3.6795 (down $0.0135 USD)

Bitcoin: $24,320.71 (down 0.69% in the last 24 hours)

Dow Jones: 33,761.05 (up 424.38 points on Thursday's close)

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

Russian Offensive Campaign Assessment

criticalthreats.org - Page Online : 13 August 2022 - Original article by Karolina Hird, Grace Mappes, Angela Howard, George Barros, Frederick W. Kagan - PortMac.News Summary

Critical Threats has released an updated assessment of the Russian Offensive Campaign as of 13 August, with the following being some of its observations.

It states that Ukrainian forces are continuing their efforts to disrupt Russian ground lines of communication that support Russian forces on the right bank of the Dnipro River, while Russian forces could be reprioritizing efforts in northeastern Donetsk Oblast in order to draw Ukrainian attention away from the Southern Axis.

Russian forces conducted limited ground attacks northwest of Slovyansk, east of Siversk, and south and east of Bakhmut, along with conducting a limited ground assault north of Kharkiv City.

Ukraine Targets More Russian Arms Depots

Ukrainian officials have reported that more Russian munitions depots were targeted by the military amid mounting safety concerns over a Russian-occupied nuclear plant in the south of the country.

"Large" depots in the Kherson region were destroyed overnight, Yuriy Sobolevskiy, the first deputy head of the Kherson regional council, said on August 14.

"There is confirmed information about the destruction of objects both in Nova Kakhovka and in Muzykivka. Quite large military warehouses with weapons and ammunition were located there. Military equipment was also stored there," he told Ukrainian media.

Russian pilots want to “Surrender” their leadership in the international tribunal

The crews of Russian aircraft are aware that their leadership will shift the responsibility for war crimes onto them.

Russian pilots are collecting confirmations of the orders they received and plan to submit them to an international tribunal over the leadership of the Russian Federation.

The intelligence notes that the Russian invaders are trying to hide their participation in the commissioning of war crimes.

“The crews of the aircraft that launched missiles at civilians in Ukraine are already aware that the leadership of the Russian army will continue to shift responsibility for war crimes onto them."

In addition, the  Russian's are “Are trying to destroy any evidence of their participation in the killings of the civilian population of Ukraine.”

“By bribing and offering bribes, the occupiers are trying to remove information about themselves from combat orders and instructions,” the intelligence service noted.

Xi Jinping Plans to Meet With Biden in First Foreign Trip in Nearly Three Years

The Chinese leader, who has remained at home during the pandemic, is organizing a visit to Southeast Asia, say people familiar with the matter

Chinese officials are making plans for Xi Jinping to visit Southeast Asia and meet face-to-face with President Biden in November, according to people familiar with the preparations.

In what would mark the Chinese leader’s first international trip in nearly three years and his first in-person meeting with Mr. Biden since the American leader’s inauguration.

The trip preparations suggest that the 69-year-old Mr. Xi is confident about his fortunes at a twice-a-decade congress set to take place this fall, where he is expected to break with recent precedent and claim a third term as Communist Party chief.

Officials involved in the preparations said the Chinese leader is first expected to conclude the party congress, then would likely attend a summit of leaders from the Group of 20 nations on the Indonesian island of Bali on Nov. 15-16.

U.S. lawmakers arrive in Taiwan with China tensions simmering

A delegation of U.S. lawmakers arrived in Taiwan on Sunday for a two-day trip during which they will meet President Tsai Ing-wen, the second high-level group to visit while there are military tensions between the self-ruled island and China.

The de facto U.S. embassy in Taipei said the delegation is being led by Senator Ed Markey, who is being accompanied by four House lawmakers on what it described as part of a larger visit to the Indo-Pacific region.

Taiwan's presidential office said the group would meet Tsai on Monday morning.

Gunshots at Canberra's airport spark panic, security fears

The Australian - Page 3 : 15 August 2022 - Original article by Robyn Ironside, Sarah Ison - PortMac.News Summary

The Australian Federal Police will review security at Canberra Airport after a man fired about five gunshots near the terminal's security screening zone at around 1.30pm on Sunday.

The terminal was evacuated and the airport was placed in lockdown in response to the incident, which is not believed to have been terrorism-related.

The gunman fired at glass windows inside the terminal, and police have confirmed that there have been no reported injuries.

Detective acting superintendent Dave Craft says the man had not directed the gunshots at people in the terminal.

The man is in custody and is expected to appear before the Canberra Magistrates Court on Monday. The airport reopened at 5pm.

The day Morrison shut door to China

The Australian - Page 1 & 2 : 15 August 2022 - Original article by Geoff Chambers, Simon Benson - PortMac.News Summary

Former prime minister Scott Morrison says the decision to close Australia's borders with China because of COVID-19 was a "Huge one".

He says in a new book called 'Plagued' that he and his advisers were aware it would have a major impact on tourism and international students, with the decision coming on 1 February 2020, the day after Donald Trump closed US borders to China.

The book relates how chief medical officer Brendan Murphy told the National Security Committee he was of the view that China was under-reporting COVID-19 cases and mortality rates and was recommending that the borders be closed.

The book also outlines new information on the Morrison government's push for an inquiry into the origins of COVID-19.

Why Australian iron ore could save Taiwan

abc.net au - Page Online : 15 August 2022 - Original article by Ian Verrender - PortMac.News Summary

China has imposed trade restrictions on a range of Australian exports in recent years, including wine, lobsters and coal.

However, it has so far avoided iron ore, with almost 80% of Australia's iron ore exports going to China.

Australia supplies around 60% of the world's iron ore, with iron ore playing a hugely important role in China's economy.

Should China seek to use force to reclaim Taiwan, there would be immense pressure placed on Australia by its allies to block the export of iron ore to China.

Rushdie's 'Defiant sense of humour' intact as he recovers from New York stabbing

abc.net au - Page Online : 15 August 2022 - PortMac.News Summary

Salman Rushdie's son Zafar says his father's "Usual feisty & defiant sense of humour remains intact", following the stabbing attack on him at the Chautauqua Institution in western New York on Friday.

24-year old Hadi Matar has pleaded not guilty to attempted murder and assault, after his attack on Rushdie left the author with a damaged liver and severed nerves in an arm and eye.

Rushdie's agent Andrew Wylie had previously confirmed he was no longer on a ventilator and was "on the road to recovery"; he had earlier stated that Rushdie was likely to lose the injured eye.

(See full story on PortMac.News today)

Innovation hubs, fix IR barriers, says BCA

The Australian Financial Review - Page 1 & 4 : 15 August 2022 - Original article by Andrew Tillett - PortMac.News Summary

The Business Council of Australia says the upcoming jobs and skills summit should be used to "Reset" government policy in seven key areas.

Amongst other things, the BCA has called for an increase in temporary migration in response to labour shortages and restoring the role of enterprise bargaining in the industrial relations system.

The BCA also advocates the creation of special innovation zones in metropolitan and regional areas that could be used to attract investment and skilled migrants.

BCA CEO Jennifer Westacott says the jobs summit must focus on economic diversification, productivity and flexibility.

Nats defend stalled agricultural visa

The Australian - Page 4 : 15 August 2022 - Original article by Rhiannon Down - PortMac.News Summary

Nationals leader David Littleproud claims the federal government is siding with unions against farmers and regional Australians over the stalled agricultural visa program.

He claims the only reason the visa is not being continued with is because unions over-generalised its potential for workers to be exploited. Littleproud is hoping to revive the proposed program when he attends the federal government's jobs summit.

AWU national secretary Daniel Walton has accused Littleproud of seeking to ride into the summit on his "One-trick pony".

'The scumbag scale': How organised crime has infiltrated the NDIS

The Age - Page Online : 15 August 2022 - Original article by Nick McKenzie, Amelia Ballinger - PortMac.News Summary

Australian Criminal Intelligence Commission chief Michael Phelan has called for a new multi-agency taskforce to tackle the rorting of the National Disability Insurance Scheme by organised crime.

The NDIS costs $30 billion a year, and Phelan suggests as much as 20 per cent of that sum could be misused; he claims that previous estimates that NDIS fraud is at 5% are "Conservative".

He queries how far someone has to be down the "scumbag scale" to be prepared to be rip off some of Australia's most vulnerable people.

Marginal seats the first to tell of mortgage stress

The Australian Financial Review - Page 8 : 15 August 2022 - Original article by Samantha Hutchinson - PortMac.News Summary

The rising cost of living is currently the only thing that focus groups are talking about, according to political strategist Kosmos Samaras.

Marginal federal seats in Sydney and Melbourne are among the most financially stressed in Australia, according to the University of New South Wales' City Futures Research Centre, and highly likely to be impacted by further increases in interest rates.

This poses potential problems for state governments in both NSW and Victoria, with elections coming up. Samaras says people in those marginal electorates are already "Living on the edge", and will be in a "Lot of pain" if interest rates go up.

Crisis of trust in building

The Australian - Page 17 : 15 August 2022 - Original article by Robert Gottliebsen - PortMac.News Summary

The fear and mistrust that is engulfing Australia's commercial and residential building industry is a much greater threat to long-term construction activity than rising interest rates.

The collapse of many building firms has made subcontractors increasingly reluctant to tender for work.

Likewise, builders do not have much confidence in the solvency of subcontractors, as many of them are also accumulating big losses.

The federal government will need to intervene in order to restore confidence in the construction industry, much as a former Labor government had stepped in to restore confidence in the banking sector during the global financial crisis.

Service NSW helps state lead uptake of digital services

The Australian Financial Review - Page 6 : 15 August 2022 - Original article by Tom Burton - PortMac.News Summary

Personalisation refers to the tailoring of government services and is considered the "Next big thing" in that area.

A survey by Boston Consulting Group and Salesforce has revealed that NSW has the highest level of digital engagement and willingness to embrace personalisation, due to the efforts of Service NSW.

Western Australian was found to be the state next most comfortable with personalisation, followed by South Australia and Victoria, while Queenslanders were the least engaged in terms of using digital government services.

Employers admit defeat in work-from-home battle

The Australian - Page 13 & 15 : 15 August 2022 - Original article by Helen Trinca - PortMac.News Summary

The Australian Human Resources Institute has released the findings of a survey which shows that most employers have accepted that working from home is the new normal in the wake of the pandemic.

The survey of 1,177 employers found that just 4% of respondents now require staff to work entirely from the office, while 34% no longer require staff to spend any time in the office.

The survey also found that 58% of employees now work from home on at least one day per week, compared with just 23% prior to the pandemic.

The Albanese Amendment

The Weekend Australian - Page 18 & 19 : 13 August 2022 - Original article by Janet Albrechtsen - PortMac.News Summary

There are claims that parliamentary democracy as Australians know it will no longer exist if the amendments that Prime Minister Anthony Albanese is proposing be made to the Constitution to enact the Aboriginal and Torres Strait Islander voice are approved in any referendum.

The Voice has already been criticised by some as being divisive and inequitable, and leading to permanent race-based privilege, but analysis of the wording that Albanese is proposing to be added to the Constitution suggests that any legislation passed, or actions taken by the executive government, without suitable compliance with the second sentence of its wording as "Elaborated by the High Court" will be invalid.

Marginal seats the first to tell of mortgage stress

The Australian Financial Review - Page 8 : 15 August 2022 - Original article by Samantha Hutchinson - PortMac.News Summary

The rising cost of living is currently the only thing that focus groups are talking about, according to political strategist Kosmos Samaras.

Marginal federal seats in Sydney and Melbourne are among the most financially stressed in Australia, according to the University of New South Wales' City Futures Research Centre, and highly likely to be impacted by further increases in interest rates.

This poses potential problems for state governments in both NSW and Victoria, with elections coming up.

Samaras says people in those marginal electorates are already "living on the edge", and will be in a "lot of pain" if interest rates go up.

'Stuck in time warp': Foxtel boss unloads on outdated regulation

Brisbane Times - Page Online : 15 August 2022 - Original article by Zoe Samios - PortMac.News Summary

Foxtel CEO Patrick Delany contends that Australia's anti-siphoning laws for sports broadcasts are outdated and do not reflect changes in the media landscape.

The anti-siphoning rules were introduced in 1992 in response to the development of pay-TV in Australia.

However, Delany says these rules do not take into account the emergence of subscription video-on-demand services, which are now operated by free-to-air networks such as Nine and Ten, and which compete with Foxtel.

He says Foxtel is still highly regulated, while the FTA-owned streaming services are not subject to regulation.

Ousted boss of Judith Neilson Institute seeks legal advice over dismissal

Brisbane Times - Page Online : 15 August 2022 - Original article by Zoe Samios - PortMac.News Summary

Mark Ryan was removed from his role as executive director of the Judith Neilson Institute for Journalism & Ideas earlier in 2022.

Ryan says he has yet to be provided with the reasons for his dismissal, adding that he has been advised by employment law firm Clayton Utz that he has strong grounds to pursue an adverse action claim against the institute.

The Judith Neilson Institute's four independent directors also recently resigned due to concerns about its future independence.

Lachlan Murdoch sends legal threat to Crikey over January 6 article

The Age - Page Online : 15 August 2022 - Original article by Zoe Samios - PortMac.News Summary

Lachlan Murdoch is seeking an apology from Australian news website Crikey over an article that appeared on its site in June.

Written by Bernard Keane, it implied that Lachlan Murdoch and his father Rupert were blame for the 6 January 2021 attack on the US Capitol as a result of their ownership of right-wing news channel.

It is the third time in three years that Lachlan Murdoch has demanded an apology from Crikey, and Crikey editor-in-chief Peter Fray says it and its publisher Private Media are sick of being intimidated by him.

Google to pay $60m fine for misleading Australians about collecting location data

The Guardian Australia - Page Online : 12 August 2022 - PortMac.News Summary

Google has agreed to pay a $60 million fine as a result of a long-running legal battle with the Australian Competition and Consumer Commission concerning misleading consumers regarding the collection of location data on mobile devices.

The fine relates to a finding by the Federal Court in April 2021 that Google had breached a number of consumer laws in regard to the collection of people's location data.

The ACCC stated at the time that the Court's ruling sent a clear message to digital platforms to be honest with consumers about what was happening with their data. 

Making money in news? Keep it short

The Australian - Page 19 : 15 August 2022 - Original article by Danny Fortson - PortMac.News Summary

Axios publisher Nick Johnston contends the 'Hypothesis' behind the launch of the US digital news start-up was that existing media companies had not evolved to deal with the invention of the internet and the smartphone.

Hence, it delivers its news in a format called 'Smart brevity', which is suited to people using mobile screens.

His comments come as Axios agreed to sell itself to American cable company Cox Enterprises for $US525 million ($736 million), with the deal being announced in the same week that Buzzfeed reported it had lost $US68 million for the first half of 2022.

ASX BHP likely to disappoint on dividends

The Australian Financial Review - Page 14 & 22 : 15 August 2022 - Original article by Alex Gluyas - PortMac.News Summary

Futures pricing suggests that Australian equities will gain about 0.6% when the market opens on today, after a positive lead from Wall Street.

BHP is likely to dominate the reporting season, with the resources giant to release its full-year results on Tuesday; analysts anticipate a record full-year dividend, but Dermot Ryan of the Renaissance Equity Income Fund says the payout for the second half is likely to be below expectations.

Other companies to report in coming days include CSL, Santos and Transurban, while investors will also be awaiting the release of the latest wages and employment data.