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FILE PHOTO: Facebook logo and Australian flag are displayed in this illustration taken, February 18, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoWhile Facebook has announced deals with most of the country’s largest news outlets, some media companies including TV broadcaster SBS have been left out in the cold, raising questions about the scope and effectiveness of the law. The U.S. social media giant has inked deals with a range of Australian big media companies including News Corp to the Australian Broadcasting Corp and has a collective bargaining arrangement with rural publishers. As previously reported by Reuters, Facebook declined to negotiate a deal with the Conversation, which publishes public affairs commentary by academics, prompting a rebuke from the regulator which drafted the law. The Australian Communications and Media Authority, which will help enforce the law, declined to comment on the grounds that no technology firm had been designated so the law did not technically apply.
Persons: Dado Ruvic, , Andrew Hunter, Hunter, Hunter didn’t, we’ve, newsfeeds Organizations: SYDNEY, Facebook Inc, Reuters, REUTERS, Facebook, SBS, Special Broadcasting Service, Google, News Corp, Australian Broadcasting Corp, Australian Competition, Consumer Commission, Australian Communications, Media Authority Locations: U.S
FILE PHOTO: Facebook logo and Australian flag are displayed in this illustration taken, February 18, 2021. Facebook’s regional head of news partnerships, Andrew Hunter, said in an August email to publishers it had “now concluded” deals where it would pay Australian companies for content on its just-launched “Facebook News” channel. Facebook did not respond directly to questions about the statements from Broadsheet Media and SBS. The U.S. social media giant has inked deals with a range of large Australian big media companies including News Corp and the Australian Broadcasting Corp and has a collective bargaining arrangement with rural publishers. “The treasurer has no alternative but to revisit designating Facebook to ensure that it meets its commitments to public interest journalism in Australia.”
Persons: Dado Ruvic, Andrew Hunter, Nick Shelton, , Hunter, we’ve, newsfeeds, Josh Frydenberg, Peter Lewis Organizations: SYDNEY, Facebook Inc, Reuters, REUTERS, Facebook, SBS, Media, Special Broadcasting Service, Google, News Corp, Australian Broadcasting Corp, Australian Competition, Consumer Commission, Centre for Responsible Technology Locations: Australia, U.S
The Reserve Bank of Australia (RBA) remains adamant that its rates are likely to stay at 0.1% until 2024, which is why local 10-year bond yields trade five basis points below Treasuries at 1.28%. Both are set to be way behind the Reserve Bank of New Zealand (RBNZ) which is considered almost certain to raise its rates early next month. Markets are fully priced for a move of 25 basis points to 0.5%, though they scaled back wagers on a half-point hike following a speech from RBNZ Assistant Governor Christian Hawkesby on Tuesday. The RBNZ has not raised interest rates by 50 basis points since 2000 when they were up at 6.0%. While 10-year yields eased a touch to 1.89%, they remain 56 basis points above Treasuries.
Persons: , Jonathan Petersen, Christian Hawkesby, Jacqueline Wong Organizations: New, U.S . Federal, Capital Economics, Fed, Reserve Bank of Australia, Reserve Bank of New Zealand Locations: New Zealand
A 5.8-magnitude earthquake struck southeastern Australia on Wednesday morning, causing shaking in Melbourne, officials said. There were no immediate reports of injuries following the earthquake shortly after 9 a.m. local time (7 p.m. A woman in the Melbourne suburb of Carrum Downs told Seven News that she ran out of her house. They are very rare events in Australia, and as a result, I am sure people would have been quite distressed and disturbed," Morrison told reporters. South Australia Police said the earthquake was felt in Adelaide, which is around 450 miles from the area of the epicenter.
Persons: Mount Buller, Scott Morrison, Morrison Organizations: Geological Survey, Carrum Downs, Seven News, Washington , D.C, South Australia Police Locations: Australia, Melbourne, U.S, Mount, Carrum, Washington ,, Adelaide, Victoria
SINGAPORE (Reuters) - Stocks found support and U.S. futures lifted in relief on Wednesday after teetering developer China Evergrande said it would pay some bond interest due on Thursday, allaying fears of an imminent and messy collapse that had spooked investors. FILE PHOTO: An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. S&P 500 futures reversed an early loss to trade slightly higher after Evergrande pledged to pay the scheduled coupon on a yuan bond that is due on Thursday. [FRX/]Moves were capped ahead of Wednesday’s Fed meeting, however, and the dollar was firm at $1.1727 against the euro. [MET/L][O/R]Brent crude futures were last up 0.9% at $75.02 a barrel and U.S. crude rose 1% to $71.18.
Persons: Stocks, China Evergrande, allaying, Thomas Peter, Evergrande, Treasuries, , Ryan Felsman, Lehman, Powell, Tapas Strickland, Gold Organizations: REUTERS, Federal Reserve, Japan’s Nikkei, Rabobank, Australian, Fed, Treasury, Australia, Brent Locations: SINGAPORE, China, Beijing, Taiwan, Asia, Pacific, Japan, Hong Kong
SINGAPORE (Reuters) - Stocks found relief on Wednesday after teetering developer China Evergrande said it would be able to pay a coupon on one of its bonds, easing some market jitters, however, the Federal Reserve’s looming policy decision kept investors cautious. That weighed on MSCI’s broadest index of Asia-Pacific shares outside Japan, which fell 0.3%, however, Australia was higher. S&P 500 futures were last up 0.2%. [FRX/]Moves were capped ahead of Wednesday’s Fed meeting, however, and the dollar was flat against the euro, with the risk of a hawkish Fed supporting the dollar. Most analysts think the Fed will not go into detail about its tapering plans but say risks lie in board members’ “dot plot” of rates projections.
Persons: Stocks, China Evergrande, Thomas Peter, , Rob Carnell, Evergrande, Lehman, Powell, Tapas Strickland, Gold Organizations: Federal, REUTERS, People’s Bank of, Shanghai, Japan’s Nikkei, ING, Treasury, Rabobank, Fed, Australia, Brent Locations: SINGAPORE, China, Beijing, People’s Bank of China, Asia, Pacific, Japan, Australia, Hong Kong, Singapore
Safe-haven assets such as the yen and U.S. Treasuries rose slightly in morning trade. S&P 500 futures fell 0.4% in early Asia trade and the offshore yuan was under pressure near a one-month low at 6.4850 per dollar. But investors are now anticipating some sort of regulatory response from Beijing and hoping global fallout can be contained. The dollar held firm at $1.1722 against the euro and bought 109.13 yen. Brent crude futures were last up 0.4% at $74.64 a barrel and U.S. crude rose 0.4% to $70.75.
Persons: Lehman, , Powell, Tapas Strickland, Gold Organizations: China, Federal Reserve, Nikkei, Equity, Rabobank, Bloomberg, Treasury, Australia, Brent Locations: SINGAPORE, China, Singapore, Asia, Hong Kong, Beijing
MELBOURNE, Australia — An earthquake of 5.8 magnitude hit southeast Australia on Wednesday morning, damaging buildings and forcing apartment buildings and hospitals to evacuate staff members and patients. It was the largest onshore earthquake in the state of Victoria in recorded history, according to Adam Pascale, chief scientist at the Seismology Research Center. And it was the largest land earthquake to rattle the country since 2016, when a 6.1-magnitude temblor hit the Northern Territory, according to Geoscience Australia. The quake on Wednesday collapsed the walls of buildings in Melbourne, Australia’s second-largest city and the capital of Victoria. It forced residents to flee apartments, shattered windows, left cracks in roads and led to power outages.
Persons: Scott Morrison, Adam Pascale, Australia’s Organizations: General, Geoscience Australia Locations: MELBOURNE, Australia, New York, Victoria, Northern Territory, Melbourne
Damaged buildings (Betty's Burgers) following an earthquake are seen along Chapel Street on September 22, 2021 in Melbourne, Australia. The epicenter of the quake was near Mansfield, Victoria with tremors felt as far away as Canberra, Sydney and Tasmania. A magnitude 6.0 earthquake struck near Melbourne on Wednesday, Geoscience Australia said, one of the country's biggest quakes on record, causing damage to buildings in the country's second largest city and sending tremors throughout neighboring states. He knew of no serious damage near the quake epicenter, although some residents reported problems with telecommunications. No tsunami threat was issued to the Australian mainland, islands or territories, the country's Bureau of Meteorology said in a statement.
Persons: Scott Morrison, Mark Holcombe, Holcombe Organizations: Geoscience, Geoscience Australia, ABC, country's, Meteorology Locations: Melbourne, Australia, Mansfield, Victoria, Canberra, Sydney, Tasmania, Geoscience Australia, Adelaide, South Australia, New South Wales, Washington, Newcastle
CANBERRA, Sept 22 (Reuters) - An Australian-EU trade deal would be mutually beneficial and allow EU members a greater presence in the Indo-Pacific, said Australia's trade minister, as Canberra tries to repair ties with Paris after the scrapping of a $40 billion submarine deal. In solidarity with France, EU lawmakers have publicly questioned whether a trade deal with Australia could be possible. Australia's Minister for Trade Dan Tehan on Wednesday urged the EU to progress ahead with a trade deal. Australia and the EU are set to hold the next round of talks on a trade deal on Oct 12. Morrison is in the United States to attend the quadrilateral security dialogue, made up of India, Japan, the United States and Australia - which convenes later this week.
Persons: Navy's Collins, Waller, Collins, Trade Dan Tehan, Tehan, Scott Morrison, Charles Michel, Morrison, Joe Biden, Emmanuel Macron, Colin Packham, Michael Perry Organizations: Royal, EU, Canberra, Paris, France's Naval Group, U.S, Trade, Wednesday, United Nations, Australia's, Thomson Locations: Sydney Harbour, CANBERRA, Australian, EU, Australia, France, United States, Canberra, Washington, New York, India, Japan
"I'm not going to talk about the tactics we'll deploy today," Patton said at a media briefing in Melbourne, the state capital. read moreSydney and Melbourne, Australia's largest cities, as well as the capital Canberra have been in lockdown for weeks to contain a Delta outbreak. Melbourne is in its sixth lockdown, the most of any Australian city since the pandemic began. Authorities are aiming for a staggered reopening in Sydney and Melbourne, easing some curbs when the adult population reaches 70% fully vaccinated, expected next month. A City of Sydney spokesperson said they want to limit the "mixing of crowds" between the two separate events.
Persons: Sandra Sanders SYDNEY, Shane Patton, I'm, Patton, Rick Nugent, Australia's, Renju Jose, Cynthia Osterman, Richard Pullin Organizations: REUTERS, Victoria State, Protesters, state's Police, Authorities, Thomson Locations: Victoria, Melbourne, Australia, Sydney, Australia's, Canberra, New South Wales
An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. read moreSingapore-traded FTSE China futures are about 2% below Friday's closing level. S&P 500 futures fell 0.4% in early Asia trade and the offshore yuan was under pressure near a one-month low at 6.4850 per dollar. Evergrande - as expected - missed interest payments due Monday to at least two of its largest bank creditors, Bloomberg reported on Tuesday. Brent crude futures were last up 0.4% at $74.64 a barrel and U.S. crude rose 0.4% to $70.75.
Persons: Thomas Peter, Lehman, Powell, Tapas Strickland, Gold, Tom Westbrook, Richard Pullin Organizations: REUTERS, China, Federal Reserve, Nikkei, Equity, Rabobank, Bloomberg, Treasury, Australia, Brent, Thomson Locations: Beijing, China, SINGAPORE, Singapore, Asia, Hong Kong
"I'm not going to talk about the tactics we'll deploy today," Patton told media in Melbourne. By early afternoon, television footage showed several hundred protesters had gathered at the Shrine of Remembrance, a memorial near the city centre honouring service in war, under the watch of police. RE-OPENING PLANSAustralia's largest cities of Sydney and Melbourne, as well as its capital, Canberra, have been in lockdown for weeks to contain a Delta outbreak. It is the sixth lockdown for Melbourne, the most of any Australian city since the pandemic began. New South Wales, whose capital is Sydney, had a total of 1,035 new infections, up from 1,022 on Tuesday.
Persons: Sandra Sanders, Shane Patton, I'm, Patton, Rick Nugent, Daniel Andrews, Renju Jose, Richard Pullin Organizations: REUTERS, Melbourne, Police, Protesters, Authorities, Victoria, Thomson Locations: Victoria, Melbourne, Australia, Sydney, SYDNEY, COVID, Canberra, New South Wales
Khatibzadeh spoke as Iran's new foreign minister, Hossein Amirabdollahian, was in New York for the annual U.N. General Assembly, where he was expected to discuss reviving the nuclear deal with other governments. Iran has refused to meet with U.S. negotiators in the nuclear talks; Washington and Tehran must pass messages through European intermediaries, instead. All parties must stay true to the nuclear deal," Raisi said in a recorded speech by video. The monitoring regime was introduced as part of the 2015 nuclear deal. The U.S. will discuss how to proceed with Iran in talks with European allies and other world powers in New York on Wednesday.
Persons: Saeed Khatibzadeh, IRNA, Khatibzadeh, Hossein Amirabdollahian, Ebrahim Raisi, Trump, Donald Trump, Joe Biden, We're, Biden, Raisi, Antony Blinken Organizations: Foreign Ministry, General Assembly, European Union, Iranian, U.S, Biden, U.S ., U.K, General, ., Capitol, Trump, International Atomic Energy Agency, . Security Locations: WASHINGTON, Iran, Vienna, Tehran, Iranian, New York, France, Germany, U.S, Washington, China, Russia, Afghanistan, Australia
An American Airlines Boeing 777-300ER plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020. REUTERS/Loren Elliott/File PhotoSept 21 (Reuters) - The United States and several U.S. states on Tuesday filed an antitrust lawsuit against American Airlines Group Inc (AAL.O) and JetBlue Airways Corp (JBLU.O), according to records in Boston federal court. The lawsuit came after American's chief executive, Doug Parker, said he expected the U.S. government to challenge the carriers' partnership on antitrust grounds. Other plaintiffs in the lawsuit include Arizona, California, the District of Columbia, Florida, Massachusetts, Pennsylvania and Virginia, the court records show. Reporting by Jonathan Stempel in New York; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Loren Elliott, Doug Parker, Jonathan Stempel, Leslie Adler Organizations: American Airlines Boeing, Sydney Airport, REUTERS, American Airlines Group Inc, JetBlue Airways Corp, of, Thomson Locations: Sydney, Australia, United States, Boston, Arizona , California, of Columbia , Florida , Massachusetts, Pennsylvania, Virginia, New York
FILE PHOTO: General Motors President Mark Reuss talks about the Chevrolet 2021 Suburban and Tahoe SUVs in Detroit, Michigan, U.S. December 10, 2019. REUTERS/Rebecca CookDETROIT (Reuters) -General Motors Co’s president said on Tuesday the global supply of semiconductor chips will begin to stabilize but at lower levels than the auto industry wants as it tries to rebuild vehicle inventories. “We’re going to see a stablization to some extent before we see getting the volume we really need,” Mark Reuss said at a conference hosted by the Detroit Regional Chamber on Mackinac Island in northern Michigan. The global chip shortage has caused GM and automakers globally to idle production at plants, with some executives warning the issue could linger into 2023. Reuss said GM was also looking at opportunities in Australia, without disclosing details.
Persons: Mark Reuss, Rebecca Cook DETROIT, General Motors, We’re, ” Mark Reuss, Paul Jacobson, Reuss, , , GM Organizations: General, REUTERS, Detroit Regional Chamber, GM, EVs Locations: Detroit , Michigan, U.S, Mackinac, Michigan, Australia
The speech will be Biden’s first as president at the meeting, which will look much different from past gatherings with many world leaders opting to deliver their remarks virtually. “America is back,” Biden said during a meeting with the U.N. secretary general Monday. Among the challenges Biden plans to address are the Covid pandemic, climate change, trade and economics, investments in clean infrastructure, counterterrorism, and “vigorous competition with great powers, but not a new Cold War,” the official said. This year’s gathering of world leaders will be largely scaled down because of the pandemic. The UN has said that 83 leaders will make their remarks in person with the rest of the global leaders’ making pre-recorded remarks.
Persons: Joe Biden, Biden, Scott Morrison, Boris Johnson, ” Biden, , we’ve, , America's, Emanuel Macron, Jen Psaki, Still, Organizations: WASHINGTON, United Nations General Assembly, Australian, White, United Nations, NATO, French, World Health Organization, WHO, The, U.S, Trump, Covid, UN Locations: Afghanistan, New York, U.S, France, Australia, United Kingdom, United States, The U.S, Europe
TOKYO (Reuters) - Japanese land prices fell for the second straight year as the country’s closed borders and state of emergency curbs to combat the coronavirus pandemic hit demand for new restaurants and hotels, an annual government survey showed. Overall property prices in the world’s third-largest economy fell 0.4% in the year to July after last year’s 0.6% decline, which was the first fall in three years, a land ministry survey showed on Tuesday. Residential land prices, which have been falling for nearly three decades due to Japan’s shrinking population, slid 0.5% after a 0.7% decline in the previous year, the survey showed. The decline stands in contrast to a troubling surge in property prices in many other industrialised nations such as Australia, where home prices rose a record 6.7% in April-June despite low economic growth. “We’re continuing to see prices fall as profitability plummets, demand shrinks and the outlook darkens due to the pandemic,” a land ministry official told a briefing.
Persons: Kim Kyung, “ We’re Organizations: REUTERS, Japan’s Locations: TOKYO, Tokyo, Japan, Australia, Osaka
MORNING BID Losing the plot
  + stars: | 2021-09-21 | by ( )   time to read: +2 min
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas/File PhotoA look at the day ahead from Julien PonthusThis week was supposed to be all about the so-called 'dot plot' and what kind of rate-rise projections U.S. Federal Reserve policymakers might make. Came Monday morning though, default worries surrounding Chinese property firm Evergrande triggered a selling storm the likes of which had not been seen for a while. Alongside headlines generated by surging gas prices ahead of winter. More realistically, few believe current market instability will change Fed thinking of when the economy might be ready for higher interest rates.
Persons: Francis Mascarenhas, Julien Ponthus, Lehman, Evergrande, Powell, Australia, Canada's Trudeau, Biden, Sujata Rao Organizations: REUTERS, Federal, Pfizer, Fed, Universal Music, UN, Thomson Locations: Mumbai, India, Asia, Pacific, Japan, Britain, Australia, Norway
STOCKHOLM (Reuters) - London-based fintech startup TrueLayer said on Tuesday it had raised $130 million from investment firm Tiger Global Management and payments technology provider Stripe in a funding round that valued the company at more than $1 billion. The company, which last raised $70 million in April, has seen 400% growth in monthly payment volume this year so far, as it expanded across Europe and doubled its customer base. TrueLayer, which counts Freetrade, Revolut and Cazoo among its customers, accounts for more than half of all open banking traffic in the UK, Ireland and Spain. While several fintech firms look toward the United States as a source of growth, TrueLayer has no immediate plans to enter that market. “I think U.S. poses a different set of challenges that we certainly want to tackle at some point,” Simoneschi said.
Persons: TrueLayer, Francesco Simoneschi, ” Simoneschi Organizations: Tiger Global Management, European Union Locations: STOCKHOLM, London, Europe, Australia, Ireland, Spain, United States
The central bank delayed raising rates last month after the country was put into a snap COVID-19 lockdown. Hawkesby’s comments “appeared to pour cold water on the prospect of a 50 basis points hike,” said Westpac head of New Zealand Strategy Imre Speizer. “Markets are still fully priced for a 25 basis points move though.”New Zealand bonds rose to push yields between 4-and-6 basis points lower across the curve, with 10-year yields 4 basis points lower at 1.878%. That was 55 basis points above Treasuries, reflecting expectations the RBNZ will raise interest rates next month. Australian 10-year bond futures were three points higher at 98.705, equivalent to a yield of 1.295%.
Persons: Christian Hawkesby, , , Imre Speizer, Evergrande, Paulina Duran, Simon Cameron, Moore Organizations: Kiwi, New Zealand, Reserve Bank of New Zealand, Westpac, New, , Reserve Bank of Australia Locations: , Zealand
FILE PHOTO: Crew members stand near an Airbus A321 aircraft of Bamboo Airways before a flight at Noi Bai airport in Hanoi, Vietnam January 16, 2019. REUTERS/KhamHANOI (Reuters) - Vietnam’s Bamboo Airways will sign a deal valued at nearly $2 billion with General Electric to purchase GEnx engines to power Boeing 787-9 Dreamliner aircraft, the airline said on Tuesday. The deal will be signed in the United States later on Tuesday in the presence of Vietnam President Nguyen Xuan Phuc, Bamboo said in a statement. Bamboo said it aims to finalise procedures for non-stop commercial flights to the United Sates early next year, pending government approvals. Bamboo said it is also seeking to expand its international flight network and open more routes to Australia, the United Kingdom and Germany, using its Boeing 787-9 Dreamliner aircraft.
Persons: Nguyen Xuan Phuc, Bamboo Organizations: Airbus, Bamboo Airways, REUTERS, General Electric, Boeing, San Francisco International Airport, Los Angeles International Airport Locations: Noi Bai, Hanoi, Vietnam, Kham HANOI, United States, Australia, United Kingdom, Germany
“The economy was expected to bounce back as vaccination rates increase and restrictions are eased,” the minutes showed. Yet analysts are also wary given the nature of the Delta variant. “The evidence from other countries that are highly vaccinated shows that even at high vaccination rates, outbreaks may still need to be managed using suppression measures and lockdowns,” said HSBC’s chief Australian economist Paul Bloxham. That means the RBA is set to be “fashionably late” to the global tightening party, says RBC chief economist Su-Lin Ong. Markets are priced for a Federal Reserve hike in late 2022 and the Bank of England also sometime next year.
Persons: , HSBC’s, Paul Bloxham, Su, Lin Ong, Ong, QE, Wayne Cole, Richard Pullin Organizations: Reserve Bank of Australia’s, , RBC, Bank of England Locations: SYDNEY, Sydney, Melbourne, Canberra, , Norway’s, New Zealand
SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday trade as investors continued monitoring the situation surrounding embattled developer China Evergrande Group. The Nikkei 225 dropped 1.79% in afternoon trade while the Topix index shed 1.51%. Hong Kong's Hang Seng index, which was dragged down by more than 3% on Monday amid investor fears around Evergrande, sat 0.32% lower by Tuesday afternoon in the city. Shares of China Evergrande Group fell 3.51%, while the Hang Seng Properties index climbed 1.59%, bouncing back partially from Monday's losses. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.18% lower.
Persons: Evergrande's, Evergrande Organizations: China Evergrande Group, Nikkei, Reuters, Japan Locations: SINGAPORE, Asia, Pacific, Evergrande, Beijing, Australia, China, South Korea
Big miners are steeled against falling iron ore
  + stars: | 2021-09-21 | by ( Jeffrey Goldfarb | )   time to read: +2 min
A surge in the price of iron ore earlier this year fueled market chatter about an extended period of commodities demand. Iron ore fell almost 20% last week to $103 a tonne and is down by more than half over the past two months. Supply from Brazil is slowly rebounding after a dam disaster and the pandemic hit production. All those trends augur a return to the sub-$100 iron ore price that prevailed between 2014 and 2019. As iron ore prices fall, this gives them scope to smooth out some of the wrinkles.
Persons: Fortescue, Swaha Pattanaik, Katrina Hamlin Organizations: Reuters, Economic, China, BHP Locations: Hangzhou, Zhejiang province, China, CHINA, MELBOURNE, Singapore, Australia, Brazil, Beijing, Rio Tinto
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