The Australian Broadcasting Corporation’s (ABC) decision to axe the role of political editor has been roundly criticised by media figures. In a staff email, the public broadcaster’s managing director, David Anderson, said up to 120 employees would potentially be let go as the national broadcaster restructures. The redundancies come after the journalist union, the Media,…
Public Broadcaster’s Decision to Cut Political Editor Roundly Criticised
June 16, 2023
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Andrew ProbynAustraliaAustralian Broadcasting CorporationBusiness & MarketsCompaniesDavid AndersonInternationalMedia & Big TechWorld
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World Shares Reach 14-month Highs as Investors Shrug Off the Fed
June 16, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares rose to 14-month highs on Friday, as investors took the view that the Federal Reserve may not need to raise rates much more, while the dollar headed for its biggest weekly slide since January. The MSCI All-World index was up 0.2 percent, around its highest since mid-April 2022. This has been an intense…
Taiwan Eases Restrictions on Canadian Beef Imports
Taiwan’s government agreed Thursday to ease restrictions on imports of Canadian beef from cattle aged 30 months or older, granting Canadian beef exporters full access to the Taiwanese market. Taiwanese Food and Drug Administration (FDA) Director Wu Shou-mei said the changes will take effect immediately, but six types of offal, including brains and eyes, will…
Australian Energy Giant Sued for Allegedly Manipulating Electricity Prices
One of Australia’s top energy companies has been sued for allegedly using bids to manipulate power prices and inflict financial damage on customers. In early June, law firm Piper Alderman announced that it had launched a class action lawsuit against energy giant AGL following an investigation into abnormal hikes in electricity spot prices in South…
TikTok to Invest Billions of Dollars in Southeast Asia to Boost E-Commerce Business
June 16, 2023
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Asia & PacificBusiness & MarketsChina NewsCompaniesdatae-commerceplatformSocial MediaTechtechnologyTikTokWorld
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JAKARTA—Short video app TikTok, owned by China’s ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down on the region amid intensifying global scrutiny over its data security. Southeast Asia, a region with a collective population of 630 million—half of them under 30—is…
China’s Economy Slows in May; Central Bank Cuts Interest Rate
June 16, 2023
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Business & MarketsChinaChina Business & EconomyChina NewsCOVID lockdownseconomic policieseconomyinterestMarketsratesRecovery
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BEIJING—China’s economy stumbled in May with industrial output and retail sales growth missing forecasts. The economic rebound seen earlier this year has lost momentum in the second quarter, prompting China’s central bank to cut some key interest rates this week for the first time in nearly a year, with expectations of more to come. “The…
Australia Reports Surprise Drop in Unemployment Rate in May
The Australian economy has been surprised by a slight drop in the unemployment rate in May, which defies market expectations and is anticipated to have implications on the central bank’s July interest rate decision. According to the latest labour force data from the Australian Bureau of Statistics (ABS), the jobless rate dipped by 0.1 percent…
Bankman-Fried to Get 2nd Trial on Bank Fraud, Bribery Counts
June 15, 2023
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Business & MarketsCrime and IncidentscryptocurrencyFTXMarketsNew YorkRegional & State NewsSam Bankman-FriedState NewsUSUS News
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NEW YORK—A U.S. judge on Thursday granted a request from prosecutors to try some of their charges against Sam Bankman-Fried in a second trial next year separate from his scheduled Oct. 2 trial over the collapse of now-bankrupt cryptocurrency exchange FTX. Bankman-Fried, 31, will be tried on March 11, 2024, on five counts, including bank…
Delta Air Lines Resumes Dividend Suspended in 2020 During Pandemic
Delta Air Lines said on Thursday it would pay a quarterly dividend, resuming a payout that the carrier had suspended in March 2020 during the COVID-19 pandemic. The dividend, of $0.10 per share, will be paid on Aug. 7 to shareholders of record as of the close of business July 17, the U.S. airline said….
New Airline Planes Will Be Required to Have Secondary Barriers to the Cockpit to Protect Pilots
U.S. officials said Wednesday they will require new airline planes to have a second barrier to make it harder for passengers to break into the cockpit when the main door is open. The Federal Aviation Administration (FAA) rule will apply to commercial planes made after mid-2025. The rule will affect airlines that operate scheduled flights,…
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