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President Joe Biden will address the United Nations General Assembly for the final time as commander in chief Tuesday morning amid the spiraling conflict in the Middle East, Russia’s ongoing war in Ukraine and growing global concerns about China’s influence. They are also Biden’s first remarks before the General Assembly since Hamas’ attack on Israel in October and the conflict that has ensued in Gaza, killing thousands of civilians. He’ll speak to the leaders of other nations as hope for a cease-fire deal between Israel and Hamas has dimmed. As Israel continues its battle with Hamas, its conflict with Iran-backed Hezbollah has also escalated in recent days. Other key speakers expected at the General Assembly include Iran’s new president, Masoud Pezeshkian; Ukrainian President Volodymyr Zelenskyy; Palestinian Authority President Mahmoud Abbas; and Israeli Prime Minister Benjamin Netanyahu.

Persons: Joe Biden, Kamala Harris, Donald Trump, Israel, John Kirby, Biden, ” Kirby, Kirby, António Guterres, Masoud, Volodymyr Zelenskyy, Mahmoud Abbas, Benjamin Netanyahu, Sabrina Singh, ’, Antony Blinken, “, ” Biden, Trump Organizations: United Nations General Assembly, White, Hamas, National Security, U.N, United Nations, General Assembly, Palestinian, Defense Department, Foreign Ministry, Congressional Republicans Locations: Ukraine, Israel, Gaza, Iran, Lebanon, New York, Sudan, United States, U.S, Mexico, Ukrainian, Wilmington , Delaware, Australia, India, Japan, China, Afghanistan

☆ HSBC: RBA unlikely to cut rates before Q2 next year
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC: RBA unlikely to cut rates before Q2 next yearPaul Bloxham, HSBC's Chief Economist of Australia, New Zealand & Global Commodities, talks about Australia's struggle with persistent inflation, especially in the housing space.

Persons: Paul Bloxham Organizations: HSBC, Global Commodities Locations: Australia, New Zealand

☆ Australia's central bank keeps rates on hold, stays hawkish
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +2 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. The hawkish stance sent the Australian dollar 0.4% higher to $0.6864, the highest this year, and markets pared the chance of a December rate cut to 59% from 64% before the decision. Markets had wagered heavily on a steady outcome given underlying inflation remained sticky and the labor market held up surprisingly well. Governor Michele Bullock has used every opportunity recently to stress that the central bank does not expect a near-term rate cut. The RBA already trails other central bank in cutting rates, and the political pressure is ramping up for an easing.

Persons: Michele Bullock Organizations: Bank of Australia, Federal Reserve, Reserve Bank of Australia, Wednesday, Greens, Monday Locations: Sydney, Australia, Australia's

☆ Biden looks to burnish foreign policy legacy at the UN as leaders grapple with a world on fire
▼ + stars: | 2024-09-24 | by ( Sam Fossum | Kayla Tausche | ) edition.cnn.com time to read: +10 min

CNN —After more than five decades at the forefront of United States foreign policy, President Joe Biden may have hoped to use his speech to over a hundred world leaders at the United Nations General Assembly in New York to burnish both his own legacy and the country’s leadership on the world stage. “The world has changed, and the world’s gotten more difficult in many ways,” one senior administration official said. Election loomingIn New York, world leaders will find themselves grappling with the growing list of global flashpoints – all while an election just weeks away looms over the US’ role as the democratic world’s champion, benefactor and leading arms supplier. While Biden will be formally representing the US at the table, former president Donald Trump and Vice President Kamala Harris are separately meeting with world leaders to bolster relationships and outline their own goals. This will be followed by a meeting focused on Ukraine reconstruction with world leaders – a critical topic ahead of Biden’s meeting with Zelensky later this week.

Persons: Joe Biden, Biden, ” Biden, ” –, Ukraine –, Volodymyr Zelensky, ”, Donald Trump, Kamala Harris, –, We’re, ” Ali Zaidi, Zelensky, Sheikh Mohamed bin Zayed Al Nahyan, we’re, Linda Thomas, Greenfield, Jon Alterman, ” Alterman, ” Thomas, “ Organizations: CNN, United, United Nations General Assembly, General, White House White, Global Coalition, United Nations, Hezbollah, UN Security Council, UN, Center for Strategic, International Studies, US, Biden Locations: United States, New York, Israel, Lebanon, Gaza, Ukraine, Lebanon’s, Russia, China, White, Vietnam, Southeast Asia, Australia, India, Japan, Wilmington, United Arab Emirates, Sudan, “, Africa, Greenfield

☆ Aussie dollar near 2024 high before RBA; yen drifts as Ueda awaited
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +3 min

The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".

Persons: Kazuo Ueda, —, Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China

☆ Asia-Pacific markets climb with China's central bank in focus; S&P and Dow set fresh records
▼ + stars: | 2024-09-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.

Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's

☆ Asia-Pacific markets open lower after Federal Reserve rate cut optimism sent markets higher last week
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month

Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore

☆ Quad group expands maritime security cooperation at Biden's farewell summit
▼ + stars: | 2024-09-22 | by ( ) www.cnbc.com time to read: +5 min

US Secretary of State Antony Blinken (R) prepares to pose for a group photo with Australia's Foreign Minister Penny Wong (2nd R), Japan's Foreign Minister Yoko Kamikawa (2nd L) and India's Foreign Minister Subrahmanyam Jaishankar (L) at the start of their Quad Ministerial Meeting at the Iikura Guest House in Tokyo on July 29, 2024. The leaders announced joint coast guard operations next year that will include Australian, Japanese and Indian personnel spending time on a U.S. coast guard vessel. The leaders' joint statement included sharp language about North Korea, condemning its ballistic missile launches and "malicious cyber activity." "But I think China's recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation," she said. Before the summit, Albanese met with Biden at his home and discussed bilateral cooperation between the two close allies across defense and security, including in the Indo-Pacific.

Persons: Antony Blinken, Penny Wong, Yoko Kamikawa, Subrahmanyam Jaishankar, Joe Biden, Biden, Fumio Kishida, Narendra Modi, Anthony Albanese, Xi Jinping, he's, Lisa Curtis, Kishida, Modi, Albanese, Donald Trump, Kamala Harris Organizations: Australia's Foreign, Japan's, India's, of, Indian, Australian, Pacific Partnership, Maritime Domain, House, Analysts, East China Seas, East China, U.S, China, Center, New, New American Security, congressional Locations: Tokyo, of Australia, India, Japan, United States, China, Delaware, U.S, Beijing, South China, South, East, Taiwan, Philippines, Brunei, Malaysia, Vietnam, North Korea, Islands, Southeast Asia, Asia, New American, Australia, Philadelphia

Senior Biden administration officials told reporters ahead of the meeting that the leaders would announce plans to expand an Indo-Pacific Partnership for Maritime Domain Awareness, launched two years ago to include the Indian Ocean region. Analysts said the expected outcomes would mostly build on work that has already been done within the Quad, which Biden elevated to summit level in 2021. It is true in the South China Sea, the East China Sea, South China, South Asia and the Taiwan Strait,” Biden continued. “But I think China’s recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation,” she said. Albanese told reporters on Thursday that Canberra and Washington share concerns about China’s security ambitions in Pacific islands countries where Beijing is seeking a growing policing role.

Persons: Joe Biden, Biden, Anthony Albanese, Narendra Modi, Fumio Kishida, Saturday’s, “, ”, Antony Blinken, he’s, ” Biden, Xi Jinping, Jake Sullivan’s, Sullivan, ” Sullivan, “ It’s, Lisa Curtis, Kishida, “ We’re, Donald Trump, Kamala Harris, Albanese, “ We’ll Organizations: United States, Australian, Anthony Albanese , Indian, Japanese, Biden, Pacific Partnership, Maritime, Indian, U.S . Coast Guard, Journalists, China’s, People’s Republic of China, Analysts, East China Seas, Center, New, New American Security, White House, CIA, State Department, congressional Locations: Australia, India, Japan, China, Anthony Albanese ,, Wilmington , Delaware, Southeast Asia, South China, East China, South Asia, Taiwan Strait, People’s Republic of, South, East, Beijing, Asia, New American, U.S, Canberra, Washington, Pacific

☆ Minneapolis housing program and Kentucky sheriff accused of killing judge: Morning Rundown
▼ + stars: | 2024-09-20 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

A Minneapolis program might offer a solution to the housing shortage. A Kentucky sheriff is expected to be charged with murder in the fatal shooting of a district judge. One city’s secret to fixing housing: Build moreRoughly five years into a program in Minnesota aimed at adding to the housing supply, Minneapolis Mayor Jacob Frey says "the results speak pretty clearly for themselves." 🏡 The housing stock in Minneapolis grew 12%, compared to 4% statewide between 2017 and 2022, according to a Pew Research report. Minneapolis’ program offers potential solutions to address housing supply and affordability.

Persons: Trump, Harris, Jacob Frey, ected to Organizations: Minneapolis Locations: Minneapolis, Kentucky, Minnesota

WASHINGTON — While President Joe Biden’s primary residence is still the White House for another few months, he plans to host world leaders at another home this weekend: his house in Wilmington, Del. NBC News is the first to report that he will host those meetings at his Delaware home. Biden first discussed hosting the summit in his hometown after Kishida brought leaders of the G7 alliance to his hometown of Hiroshima in 2023. “The prime minister is rightly very proud of Hiroshima and his experiences there. Biden has also had each prime minister to the White House for an official state visit, an honor reserved for the closest allies.

Persons: Joe Biden’s, Biden, Anthony Albanese, Narendra Modi, Fumio Kishida, ” John Kirby, Kishida, ” Kirby, —, Kamala Harris Organizations: White House, NBC, Archmere Academy, Anthony Albanese , Indian, Japanese, White, National Security Communications, United Nations General Assembly, Economic Cooperation, U.S Locations: WASHINGTON, Wilmington, Del, Australia, India, Japan, Delaware, Anthony Albanese ,, Hiroshima, South China, New York, U.S, Africa, Angola, Asia, Peru, Brazil

☆ Australia to strip medals from veterans after alleged war crimes
▼ + stars: | 2024-09-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

SYDNEY, Australia — Australia will strip military awards from a group of war veterans over allegations that those under their command committed war crimes in Afghanistan, Defense Minister Richard Marles said Thursday. As part of delivering the final recommendations of the inquiry, known as the Brereton Report, Marles had written to several officers who served in Afghanistan, to inform them that medals awarded for service would be withdrawn, the defense minister said. “The allegations which are the subject of the Brereton Report are arguably the most serious allegations of Australian war crimes in our history,” Marles told Parliament on Thursday. A former soldier was charged with war crimes last year. More than 39,000 Australian troops served in Afghanistan and 41 were killed.

Persons: Richard Marles, Paul Brereton, Brereton, Marles, ” Marles Organizations: Australia —, Defense, Australian Defence Force, Australia, NATO Locations: SYDNEY, Australia, Australia — Australia, Afghanistan

☆ Mega El Niño events may have caused planet’s greatest mass extinction
▼ + stars: | 2024-09-12 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

The El Niño of 252 million years ago would have originated in the Panthalassic Ocean, a body of water much larger than today’s Pacific that could hold more heat, which in turn would have strengthened and sustained El Niño effects. The planet had experienced similar episodes earlier but they hadn’t triggered a mass extinction. A prolonged and intense El Niño also explained why extinctions had begun on land before they occurred in the ocean, the study said. This data showed how temperature rose at different latitudes as the mass extinction unfolded. El Niño events today are known to cause coral bleaching and mass mortality of fish, the study noted, but the ecological impact and future trajectory of El Niño events in a warming climate are unknown.

Persons: ”, Paul Wignall, David Bond, Paul Wignall El, Alex Farnsworth, El, ” Wignall, Niño, “, Yadong Sun, Niños, Wignall, Farnsworth, Alfio Alessandro Chiarenza, Chiarenza, wasn’t Organizations: CNN, University of Leeds, El, University of Hull, UK’s University of Bristol, China University of Geosciences, University of Bristol, Royal Society Newton International, University College London’s, supervolcanoes Locations: what’s, Russia, United Kingdom, Ellesmere, El, Pacific, Wuhan

☆ Four Olympic medals stolen from Australian rower’s car
▼ + stars: | 2024-09-11 | by ( Isaac Yee | Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —Police have arrested and charged a man for allegedly stealing four Olympic medals belonging to Australian rower Drew Ginn. Authorities said Ginn’s medals were believed to have been stolen from the back of a Land Rover parked in the Victorian capital about a week ago. A GoPro camera, headphones and a wetsuit were also stolen, with police saying Ginn had left them along with the medals inside his car during a speaking engagement at a school. “They were hidden away in the car but the car was ransacked completely so lots of stuff was broken and destroyed,” he added. The 49-year-old voiced hope that, rather than being sold, the medals might find their way back to their rightful owner.

Persons: Drew Ginn, Ginn, ”, “ They’ve, …, ” Ginn, “, Australia's Drew Ginn, Duncan, Gregory Bull Organizations: CNN — Police, Authorities, Rover, Olympic, London Olympics, ABC Radio Melbourne, Duncan Free, Police Locations: Brunswick, Melbourne, Atlanta, Beijing

☆ Britain's Rightmove rejects $7.3 billion takeover offer from Murdoch's REA Group
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: +2 min

Australian property listing firm REA Group said on Wednesday that Britain's largest real estate portal Rightmove had rejected its 5.6 billion pounds ($7.32 billion) cash-and-stock takeover offer. REA shares dropped 1.25% in early trade on Wednesday. The offer consisted of 305 pence in cash and 0.0381 new REA shares and was non-binding and subject to due diligence. REA said had a deal been completed, Rightmove shareholders would have owned about 18.6% of the combined group. The cash component of the deal was due to be funded by debt and existing cash, REA said.

Persons: REA, Rightmove, Entcho Raykovski, Raykovski Organizations: Rupert Murdoch's News Corp, Reuters, Jefferies, Australian, REA Locations: London

☆ Australian breakdancer Raygun, who was trashed at the Paris Olympics, just got ranked world No. 1. Here's why.
▼ + stars: | 2024-09-11 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read previewRachael "Raygun" Gunn, the Australian breakdancer who earned notoriety at the Paris Olympics, has been named the world's No.1 female performer in the sport. To those who know Gunn through her much-mocked Olympics performance, the ranking will likely come as a surprise. As such, the World DanceSport Federation — the governing body that produces the ranking — issued an explanation to go along with the news. The ranking, the body explained, does not take into account scores notched up at the Paris Olympics, nor at their qualifying rounds. Mark Kolbe/Getty ImagesThe current WDSF world No.2, Japanese breaker Riko, also gained 1,000 points in a qualifying competition.

Persons: —, Rachael, Raygun, Gunn, Rachael Gun, Mark Kolbe, Zack Slusser Organizations: Service, breakdancer, Paris Olympics, World, —, Business, Olympic Games, Oceania Continental, Getty, USA, Associated Press, Macquarie University, Guardian Locations: Paris, Sydney, Australia, Seoul, Leuven, Belgium

☆ Australia plans minimum age for social media use, angering digital rights advocates
▼ + stars: | 2024-09-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SYDNEY, Australia — Australia plans to set a minimum age limit for children to use social media citing concerns about mental and physical health, drawing a backlash from digital rights advocates who warn the measure could drive dangerous online activity underground. Prime Minister Anthony Albanese said his center-left government would run an age verification trial before introducing age minimum laws for social media this year. The law would put Australia among the first countries in the world to impose an age restriction on social media. Representatives of Meta, the owner of Facebook and Instagram, which has a self-imposed minimum age of 13, YouTube owner Alphabet and TikTok were not immediately available for comment. Australia has one of the world’s most online populations with more than four-fifths of its 26 million people on social media, according to government and tech industry figures.

Persons: Anthony Albanese, Albanese, “, ” Albanese, ”, Daniel Angus, Jordy Kaufman Organizations: Australian Broadcasting Corp, European Union, Meta, Facebook, Queensland University of Technology Digital Media Research, Swinburne University, University of Sydney Locations: SYDNEY, Australia

☆ Raygun: Viral Olympian ranked No. 1 breaker in the world by sport’s governing body
▼ + stars: | 2024-09-10 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +5 min

CNN —Australian breaker Rachael Gunn, the Olympian widely known as B-Girl Raygun who went viral after her performance at the Paris Games, is now ranked the No. The 37-year-old claimed the top spot in the latest women’s rankings released by the World DanceSport Federation (WDSF) – the governing body of breaking and other dancesports. However, she won the gold medal at the 2023 WDSF Oceania Championships, securing her 1,000 ranking points and vaulting her up to No. “In alignment with the Olympic Qualification System, ranking events were intentionally not held between 31 December 2023 and the Olympic Games Paris 2024. From our perspective, that was nothing really shocking.”Raygun became one of the stories of the Paris Games after her performances at La Concorde Urban Park.

Persons: Rachael Gunn, Raygun, Japan’s Ami, Lithuania’s, WDSF, Robin, Ezra Shaw, Adele, Rachel Dratch, Jimmy Fallon, ” Raygun, –, ”, Martin Gilian, Frank Franklin, “, that’s, “ It’s Organizations: CNN, Paris Games, World DanceSport, Oceania, Oceania Championships, Olympic, Games, Olympic Games, Olympics, Getty, Twitter, Concorde Urban Locations: United States, France, Lithuania, Japan, Paris, Shanghai, Budapest, Australia, Munich, Los Angeles

☆ Australia plans a minimum age limit for social media use
▼ + stars: | 2024-09-10 | by ( ) edition.cnn.com time to read: +3 min

Australia intends to set a minimum age limit for children to use social media, citing concerns about mental and physical health. Prime Minister Anthony Albanese said his center-left government would run an age verification trial before introducing age minimum laws for social media this year. The law would put Australia among the first countries in the world to impose an age restriction on social media. Australia has one of the world’s most online populations, with four-fifths of its 26 million people on social media, according to tech industry figures. But the inquiry has also heard concerns about whether an age limit would inadvertently harm younger people by encouraging them to hide their online activity.

Persons: Anthony Albanese, Albanese, “, ” Albanese, TikTok, ”, Daniel Angus, we’re Organizations: Australian Broadcasting Corp, European Union, Meta, Facebook, YouTube, University of Sydney, Queensland University of Technology Digital Media Research Locations: Australia

Rupert Murdoch at his annual party at Spencer House, St James' Place in London. Activist investor Starboard Value moved Friday to dissolve News Corp's dual-class share structure, a challenge to the Murdoch family's control over the Wall Street Journal parent, according to people familiar with the matter. News Corp's structure as of September gave Rupert Murdoch control over around 40% of the company's voting stock. Last November, Rupert Murdoch, 93, stepped down as chair of the board at both News Corp and Fox Corp. His son, Lachlan Murdoch, is the sole chair of News Corp., and continued his role as Fox Corp.'s executive chair and CEO.

Persons: Rupert Murdoch, St James, Murdoch, Jeff Smith, Smith, Lachlan Murdoch Organizations: Spencer, Wall Street Journal, News Corp, CNBC, REA Group of Australia, New York Times, Wall Street, Fox Corp, Reuters, Autodesk, Match, . News Corp, Sun, HarperCollins Locations: London

The World, a luxury liner, has many descriptions, but "cruise ship" is not one of them, said resident Jim Minarik. "The only thing that's similar between the world and a cruise ship is they float on the water," he said. Minarik and his wife bought their apartment in 2020 with plans to spend one to two months a year on the ship. Source: The WorldYet money is not a big topic aboard The World, Minarik said. Wong said that while other companies have tried, The World is still the only ship of its kind.

Persons: Jim Minarik, we're, Minarik, Eddie Wong, Wong, There's, I'd Organizations: CNBC, CNBC Travel Locations: Singapore, Antarctica, French Polynesia, Easter, Amalfi Coast, Australia's Kimberley, Papua New Guinea, Solomon, South America, South Africa, Cape Town, Orange County , California, Africa's, Penola Strait

☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.

Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand

☆ Australia's second-quarter wages rise at slowest pace in a year
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. "The RBA will be somewhat relieved to see wage pressures subsiding," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. "However, absent an improvement in productivity growth, the current pace of wage growth is still a little too strong for inflation to return to target quickly." The overall increase in annual wages was still just enough to take it above inflation of 3.6%, a welcome return to real pay growth after years of negative outcomes. Incomes will get an added boost from a major round of tax cuts that started in July.

Persons: Sean Langcake Organizations: Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia

☆ 4 former officers accused of staging sham raid to extort nearly $37 million from California man
▼ + stars: | 2024-08-12 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +5 min

According to prosecutors, the victim and his business partner had a yearslong dispute over their ownership in the rubber chemical manufacturer. In December 2018, the unindicted co-conspirator allegedly contacted Turbett to help with her business dispute. Turbett and Hart flew from Australia to Los Angeles, where they met with Cozart and Lankford to plan out the sham raid, prosecutors said. During the hoax raid, the defendants forced the victim and his family into one room. The unindicted co-conspirator paid Turbett’s company about $419,813 and emailed Turbett to thank him for a “very good job,” prosecutors said.

Persons: ”, Steven Arthur Lankford, Glen Louis Cozart, Max Samuel Bennett Turbett, Matthew Phillip Hart, Lankford, Hart, Martin Estrada, Turbett, Cozart Organizations: Attorney’s, Central, Central District of, Los Angeles County Sheriff’s Department, Angeles County Sheriff’s Department, Crime Information Locations: California, Irvine, U.S, Central District, Central District of California, Jiangsu Sinorgchem, Country , California, Upland , California, Australia, United Kingdom, Los, Santa Clarita, Angeles, China, Atlanta, Jiangsu, —, Los Angeles

☆ Meet Gina Rinehart, the Australian mining magnate worth almost $19 billion
▼ + stars: | 2024-08-12 | by ( Paige Bruton | ) www.businessinsider.com time to read: +4 min

Read previewGina Rinehart has long been one of Australia's richest people thanks to her company Hancock Prospecting, which controls the country's largest iron ore mine. Rinehart has also been highly involved in funding Australian sport — and made headlines following family disputes. When he died in 1992, Rinehart took over Hancock Prospecting and acquired the Roy Hill mine soon after. Paul Morigi/Getty ImagesSports enthusiastRinehart has been called a "godmother" to Australian sport after donating millions of dollars to swimming, rowing, volleyball, and artistic swimming teams in recent years. Rinehart has also been embroiled in court battles with her son John Hancock and daughter Bianca Rinehart over the rights to mining royalties worth billions of dollars.

Persons: —, Gina Rinehart, Hancock, She's, Chile's SQM, Rinehart, Queen Elizabeth II, Paul Kane, Lang Hancock, Hill, Paul Morigi, Rinehart's, Rose Porteous, John Hancock, Bianca Rinehart, Vincent Namatjira, Vincent Namatjira's Organizations: Service, Bloomberg, Forbes, Business, University of Sydney, Hancock, House, Australian, Getty, National Gallery of Australia Locations: Perth, Pilbara, Western Australia

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