DIRS.INFO The most relevant business & tech news

☆ Australia's central bank considered raising rates in October, RBA minutes show
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Australia's central bank considered a rate hike of 25 basis points at its monetary policy meeting on Oct. 3, but eventually opted to hold its benchmark lending rate at 4.1%. In minutes released by the Reserve Bank of Australia, board members noted that inflation remained well above its target of 2% to 3%, and was "expected to do so for some time." "The tightening of monetary policy since May 2022 was still permeating through the economy and it would take some time for the full effects of this to be observed in the data," the minutes showed. In light of both sides of the argument, the RBA concluded there was not enough new information from financial markets or economic data to adjust its monetary policy in October.

Organizations: Bank of Australia, Reserve Bank of Australia Locations: Sydney, Australia, Australia's

☆ Chevron Australia workers to restart strikes next week after deal talks falter
▼ + stars: | 2023-10-10 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Union workers are set to go on strike at Chevron’s liquefied natural gas (LNG) facilities in Australia next Thursday, in renewed action that could disrupt about 7% of global LNG supply. The proposed deals had contained improvements in pay and other conditions, leading unions to call off strikes at the time. Fresh strikes could again threaten to disrupt production at Chevron’s hugely significant Wheatstone and Gorgon facilities, located near the coast of Western Australia. In separate statements shared with CNN, Chevron and the alliance said they had worked to draft agreements based on recommendations from Australia’s Fair Work Commission. Chevron added that it remained “committed” to a deal and hoped to resolve the last outstanding issues.

Persons: “, ”, Felix Booth, — Olesya Dmitracova Organizations: Hong Kong CNN — Union, Chevron, Offshore Alliance, CNN, Chevron Australia Locations: Hong Kong, Australia, Western Australia, reneging, ”

☆ Chevron workers at key LNG facilities in Australia vote to restart strikes
▼ + stars: | 2023-10-06 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Union members have voted to restart industrial action at Chevron’s liquefied natural gas facilities in Australia, threatening renewed strikes that could disrupt about 7% of global LNG supply. In the past days, the Offshore Alliance had been working with Chevron (CVX) to finalize the agreements, the alliance said in the statement. In Europe, the threat of strikes in Australia had caused a series of spikes in natural gas prices since August. “Persistently high and volatile gas prices will erode European competitiveness, [which is] a longer-term risk,” the credit rating agency wrote. “Gas prices will remain higher in Europe than elsewhere, making energy-intensive sectors like chemicals less competitive.”

Persons: Brad Gandy, “, Wheatstone, Daniel Toleman, Wood Mackenzie, “ It’s, ”, Alex Froley, Russia —, Moody’s Organizations: London CNN — Union, Offshore Alliance, Chevron, Commission, Enterprise, CNN, Fair, ” Workers Locations: Australia, Europe, Russia, Ukraine, Norway, LNG, United States, Qatar, Moscow

☆ Australia says Qatar strip-searches of women in 2020 a factor in blocking extra flights
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

A view shows the Qatar Airways' airbus A350 parked outside Qatar Airways maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad Creidi/File Photo Acquire Licensing RightsSYDNEY, Sept 7 (Reuters) - Australia said a strip-search of women at Qatar's main airport in 2020 played a part in its decision this year to stop Qatar Airways from selling more flights to Australia, denying it was acting due to pressure from rival Qantas Airways. The claim brings a new element to a controversy surrounding the Australian Labor government's relationship with Qantas (QAN.AX) which had lobbied against a Qatar Airways request to increase its flights. It was "nonsense" to suggest that adding more Qatar Airways flights would have put downward pressure on international fares, King added. Antitrust regulator the Australian Competition and Consumer Commission (ACCC) has said more Qatar Airways flights would have lowered fares.

Persons: Imad Creidi, Catherine King, King, Alan Joyce, Vanessa Hudson, Byron Kaye, Kirsty Needham, Michael Perry Organizations: Qatar Airways, airbus, REUTERS, Rights, Qantas Airways, Australian Labor, Qantas, Australian, Hamad International Airport, Antitrust, Australian Competition, Consumer Commission, ACCC, Thomson Locations: Doha, Qatar, Australia, Qatar's, Canberra

☆ The CEO of airline Qantas is stepping down with a $24 million golden handshake, with one politician calling it the 'swindle of the century'
▼ + stars: | 2023-09-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Qantas' CEO is stepping down from his role two months early and will receive a $24 million bonus. AdvertisementAdvertisementAlan Joyce, CEO of Australian national airline Qantas, is facing criticism for the $24 million golden goodbye he will receive after announcing that he is stepping down from his role early on Monday. "If the Board allows Mr Joyce to walk away with $24 million after illegally sacking 1,700 people, gouging customers and while subject to an ACCC prosecution, it will be the swindle of the century," Sheldon said. If Mr Joyce walks away with his $24 million, he will make their annual salary in less than 6 hours." AdvertisementAdvertisementJoyce earned $125 million over the 15 years he spent as Qantas' CEO and was even ranked the highest-paid CEO in Australia in 2018, Sky News Australia reported.

Persons: Alan Joyce, Joyce, Vanessa Hudson, Joyce's, Tony Sheldon, Mr Joyce, Sheldon, Michael Kaine Organizations: Qantas, Australian, Australian Competition, Consumer Commission, Australian Labor Party, Transport Worker's Union of Australia, Australian Aviation, Sky News Australia, Transport Workers Union, ABC, Australia's Federal Locations: Australia

☆ Woodside Heads Off Australian Labor Dispute Roiling Gas Markets
▼ + stars: | 2023-08-24 | by ( Stuart Condie | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/commodities-futures/woodside-heads-off-australian-labor-dispute-roiling-gas-markets-6fbc9da8

Persons: Dow Jones Locations: woodside

☆ Natural gas prices are spiking again. Here’s why
▼ + stars: | 2023-08-10 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Natural gas prices have spiked again this week, just as Europe prepares for the heating season. The price of Dutch natural gas, the European benchmark, has jumped 24% to €40 ($44) per megawatt hour since Tuesday on news of potential industrial action at liquefied natural gas (LNG) plants in Australia. US natural gas prices have climbed 18% so far this month. “As much of the spare LNG supply comes from the US, natural gas prices there have also jumped higher,” he added. The sudden rise in gas prices follows a recent run-up in oil prices, driven by production cuts by major exporters such as Saudi Arabia and Russia.

Persons: Brad Gandy, Tom Marzec, ”, Russia —, Bill Weatherburn, Brent, Weatherburn, Massimo Di Odoardo, Wood Mackenzie, “, Woodside, — Hilary Whiteman Organizations: London CNN, Offshore Alliance, Chevron, North West, Woodside Energy Group, Facebook, CNN, —, Capital Economics, European Union, Asia —, Reuters Locations: Australia, Europe, Russia, Ukraine, Norway, LNG, United States, Qatar, Moscow, Saudi Arabia, Marzec, “, Asia, Asia — Japan, —, Brisbane

He warned that contaminated medicines could still be found for several years, because adulterated barrels of an essential ingredient may remain in warehouses. Cough syrups and the ingredient, propylene glycol, both have shelf-lives of around two years. Unscrupulous actors sometimes substitute propylene glycol with toxic alternatives, ethylene glycol and diethylene glycol, because they are cheaper, several pharmaceutical manufacturing experts told Reuters. The WHO said it has also offered help to Liberia and Cameroon – which recently signalled that it too may have contaminated cough syrups for sale. The contaminated syrups in Liberia were made by India's Synercare Mumbai, according to the Nigerian regulator.

Persons: Rutendo Kuwana, Kuwana, –, syrups, Naresh Kumar Goyal, QP Pharmachem, India's Synercare, Synercare, It's, Jennifer Rigby, Krishna N.Das, Edward McAllister, Stanley Widianto, Sumit Khanna, Sophie Yu, Sara Ledwith, Michele Gershberg Organizations: World Health Organization, WHO, Reuters, Pharmaceutical, Marshall, Indonesian, –, PT Universal Pharmaceutical Industries, AFI, Pharmaceuticals, Marion Biotech, Maiden Pharmaceuticals, Thomson Locations: LIBERIA, CAMEROON, Liberia, Nigeria, Gambia, Uzbekistan, Micronesia, Indonesian, – Timor Leste, Cambodia, Senegal, Philippines, Cameroon, syrups, Marshall Islands, India's Synercare Mumbai, Nigerian, Liberian, India, Panama, Delhi, Dakar, Jakarta, Ahmedabad, Beijing

☆ Labor party takes power in 'fresh start' for Australia's biggest state
▼ + stars: | 2023-03-26 | by ( ) www.cnbc.com time to read: +2 min

The Australian Labor Party in New South Wales state claimed power in an election on Saturday night, with voters backing the center-left party's pledges on anti-privatization and cost of living relief. Labor's win in New South Wales means the party now governs at state and federal level across Australia's mainland, leaving island state Tasmania as the conservative outlier. "After 12 years in opposition the people of New South Wales have voted for a fresh start," Minns told supporters in Sydney late on Saturday. "The people of New South Wales voted to put in a government that would put people at the heart of all decision-making". Speaking on Sunday, Minns said Labor had "commonsense initiatives" that would help bring down cost of living in the state.

☆ Labor Party takes power in 'fresh start' for Australia's biggest state
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 26 (Reuters) - The Australian Labor Party in New South Wales claimed power in a state election on Saturday, with voters backing the centre-left party's pledges on anti-privatisation and cost of living relief. "A huge congratulations to @ChrisMinnsMP ... and the whole NSW Labor team on your election victory," Albanese said on Twitter late on Saturday. Labor's win in New South Wales means the party now governs at state and federal level across Australia's mainland, leaving island state Tasmania as the conservative outlier. "After 12 years in opposition the people of New South Wales have voted for a fresh start," Minns told supporters in Sydney late on Saturday. "The people of New South Wales voted to put in a government that would put people at the heart of all decision-making".

Search resuls for: "Australian Labor"

10 mentions found