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☆ Australia to End Daily Letter Delivery as Postal Service Pivots to Parcels
▼ + stars: | 2023-12-05 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

By Lewis JacksonSYDNEY (Reuters) - Australia Post will soon end daily letter deliveries as part of a series of postal reforms announced on Wednesday designed to modernise the government-owned postal service and help it turn a profit. Australia Post will also have an extra day to deliver regular mail. Australia Post delivered half a billion parcels last financial year, or roughly 20 per person. Losses in the letter business rose 50% to A$384 million. Australia Post has applied to the competition regulator to increase the basic letter postage rate to A$1.50 from A$1.20 from early near year.

Persons: Lewis Jackson SYDNEY, Paul Graham, eCommerce, Graham, Lewis Jackson, Jamie Freed Organizations: Australia Post, Australia Locations: Australia

☆ Australia posts first budget surplus in 15 years as tax revenues soar
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Reed Acquire Licensing RightsSYDNEY, Sept 21 (Reuters) - Australia on Friday recorded a final budget surplus of A$22.1 billion ($14.2 billion) for the year to June 2023, five times earlier estimates, as strong jobs growth and bumper mining profits helped the country post the first surplus in 15 years. In its May budget, the Labor government had projected a surplus of A$4.2 billion, a huge turnaround from the pandemic-driven deficits of the two previous years. However, the budget is projected to return to deficit this year amid intensifying spending pressures on healthcare, energy and defence. By banking revenue upgrades, the government lowered gross debt by A$87.2 billion and will avoid around A$12 billion in interest payments over the five years to 2026-27. Chalmers said in July the budget surplus was likely to be a little over A$20 billion for the past financial year.

Persons: Jason Reed, Jim Chalmers, Chalmers, Stella Qiu, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Treasury, Labor, ABC News, Thomson Locations: Australia's, Australia

☆ Morning Bid: Riding the Fed dragon
▼ + stars: | 2023-02-01 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Feb 2 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. "The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal." The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday. Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already.

☆ Corporate travel propels boom in sustainable aviation fuel
▼ + stars: | 2022-12-07 | by ( Jamie Freed | ) www.reuters.com time to read: +5 min

SAF accounted for only 0.5% of aviation fuel in 2021, but many airlines have a target of 10% by 2030 and the industry's goal of "net zero" emissions by 2050 relies on SAF accounting for 65% of fuel. The corporate sector interest could build momentum for the SAF industry to scale up given businesses account for around 20% of air travel globally and 30% in Europe, said Denise Auclair, corporate travel campaign manager at European non-governmental organisation Transport & Environment. 'GREEN PREMIUM'Buying SAF is more costly than purchasing emissions offsets but experts say it can play a key role in reducing travel emissions alongside switches to video-conferencing and cleaner alternatives like rail. "They contract with us, they pay for the cost premium of sustainable aviation fuel over the conventional jet fuel, and then enable us to deliver sustainable aviation fuel for our partner airlines to consume," he said. Companies are able to contract directly with airlines, travel agencies like American Express Global Business Travel (Amex GBT) (GBTG.N) and fuel providers like Neste as they look to claim SAF credits and avoid pitfalls like double claiming.

☆ Vegemite and more: An A to Z of the top foods and drinks Australians love most
▼ + stars: | 2018-01-20 | by ( Brooke Chenoweth | ) edition.cnn.com time to read: +19 min

“During the Second World War, Vegemite captured the Australian market. Marmite was unobtainable and the Australian Army supplied Vegemite to its troops,” says the museum in a post highlighting defining symbols of Australia. “In the 1950s and 60s, despite acquisition by the American company Kraft, Vegemite became a distinctively ‘Australian’ food. 🥳No round-up of Aussie foods would be complete without this ubiquitous salty brown spread, which turns 100 on October 25. For those living in countries where it’s not yet exported, Vegemite comes in massive 560 gram jars and travel-sized tubes.

Persons: CP, Fred Walker, Vegemite, Marmite, ”, “ Bertie, Bert Appleroth –, grandma, Bowen, Egypt –, Expats, they’re, Kevin Rudd, ” Rudd, Hilary Whiteman, Allen’s, Cadbury Cherry Ripes, Caramello Koalas, Violet Crumbles, snacking, gyros, Lord Lamington, Cameron Spencer, Pavlova, pavlova, Vince Caligiuri, quince, Maggie Beer’s quince, GREG, Bundy, barbie, Ian Waldie, expats, Tim Tams, Tam, Tobys, we’re, ike “, ove, ou., rab, abby, abbies, ritter, ake Organizations: CNN, National Museum of Australia, CP Callister, Australian Army, “, American, Kraft, Aeroplane, tradies, OSCAR RIVERA, AFP, Getty, Weis, Arnott’s, Cadbury Australia, Nestlé, Sydney Fish Market, antipodes, Bundaberg Rum's, Producers, Geographic Locations: Australia, Melbourne, British, “, Australian, Bega, ”, Sydney, American, Queensland, Bowen, Kensington, Christmas, Egypt, AFP, mayo, Switzerland, United States, Asia, Bundaberg, Balmain, Moreton, Niseko, Japan, ried

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