Harris and Trump end campaign duel with opposing messages

Original article by Farrah Tomazin
The Age – Page: Online : 6-Nov-24

The Republican Party’s candidate Donald Trump has cast his ballot in Florida, telling reporters that he is confident of winning a presidential election that is widely tipped to be very close. Trump and Vice-President Kamala Harris both spent the last day of the election campaign in Pennsylvania, one of seven swing states that are likely to decide the outcome of the election. Harris called for unity and a "fresh start", while Trump claimed that the US has been "destroyed" under the Biden-Harris administration. He also committed to imposing punitive tariffs of up to 100 per cent on imports from Mexico of that nation’s government does not take action to prevent illegal immigrants from entering the US.

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REPUBLICAN PARTY (UNITED STATES)

Resist your urge to splurge, ALP told

Original article by Jack Quail
The Australian – Page: 1 & 5 : 6-Nov-24

The Reserve Bank of Australia’s decision to leave the cash rate unchanged at 4.35 per cent on Tuesday had been widely expected. The RBA remains focused primarily on underlying inflation, which governor Michele Bullock says is still too high for the central bank to consider reducing the cash rate. Underlying inflation was 3.5 per cent in the year to September, and Bullock notes that temporary electricity rebates contributed to the headline inflation rate falling to 2.8 per cent. Bullock has also emphasised the need for Treasurer Jim Chalmers to avoid any spending measures that may fuel inflation ahead of the federal election.

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RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

ANZ-Roy Morgan Consumer Confidence unchanged at 86.5 in early November – before RBA meeting on interest rates

Original article by Roy Morgan
Market Research Update – Page: Online : 6-Nov-24

ANZ-Roy Morgan Consumer Confidence was unchanged at 86.5 in the week to 3 November; however, it has stayed above the mark of 85 for a third consecutive week for the first time since January 2023. Consumer Confidence is now 8.7 points above the same week a year ago (77.8), and 4 points above the 2024 weekly average of 82.5. A look at Consumer Confidence by State shows varied results around the country with small increases in NSW, Victoria, and SA, an unchanged result in Queensland and a small decline in WA. Now 23% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 47% (unchanged) say their families are ‘worse off’. Looking forward, 35% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 30% (down 1ppt) expect to be ‘worse off’. Now 10% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 28% (down 1ppt) expect ‘bad times’. Meanwhile, 22% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 46% (up 1ppt) say now is a ‘bad time to buy’.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Scandalous Covid betrayal of trust

Original article by Rosie Lewis
The Australian – Page: 1 & 5 : 30-Oct-24

An independent panel’s review of the federal government’s response to the COVID-19 pandemic has made 26 recommendations; it concluded that 19 of them should be prioritised over the next 12-18 months. The inquiry found that the public generally supported Covid measures such as lockdowns at the onset of the pandemic, but "draconian" measures were not justified after the initial wave and merely reduced trust in governments. The report noted that the nation is now less prepared for a future public health emergency because the health system has not recovered from the pandemic and Australians are now unlikely to comply with onerous restrictions in the wake of Covid.

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ALP delays small business IR review beyond election

Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 30-Oct-24

The federal government agreed to review small business exemptions from the Fair Work Act in return for the support of crossbench senators David Pocock and Jacqui Lambie for its second tranche of industrial relations reforms. Amongst other things, the proposed review will consider the definition of a small business, which is currently set at fewer than 15 employees. However, the government has advised that the review may be delayed until mid-2025. Council of Small Business Organisations Australia CEO Luke Achterstraat says the current definition of a small business is not ‘fit for purpose’, and the government needs to provide the sector with as much certainty and confidence as possible.

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COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Push to upgrade freebie Albanese to corruption watchdog

Original article by Rhiannon Down, Geoff Chambers, Rosie Lewis
The Australian – Page: 1 & 2 : 30-Oct-24

Prime Minister Anthony Albanese is continuing to attract scrutiny over revelations that he accepted free flight upgrades from Qantas when he was transport minister and shadow transport minister. However, Albanese contends that he has been "completely transparent" about his flights as an MP. Opposition leader Peter Dutton says Albanese had most likely been in breach of the ministerial code of conduct. Dutton has called for Albanese to refer himself to the National Anti-Corruption Commission, arguing that it should investigate his relationship with Qantas and the federal government’s decision to block Qatar Airways’ application for additional flights to Australia.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QANTAS AIRWAYS LIMITED – ASX QAN, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. NATIONAL ANTI-CORRUPTION COMMISSION, QATAR AIRWAYS

ANZ-Roy Morgan Inflation Expectations drop to 4.6% in late October – down from 4.7% for the month of September

Original article by Roy Morgan
Market Research Update – Page: Online : 30-Oct-24

The latest weekly ANZ-Roy Morgan Inflation Expectations are 4.6% for the week of October 21-27. This figure is below the average this year of 4.9%, and down 0.1% points from the month of September. A look at monthly Inflation Expectations for September shows the measure at 4.7% for the month – down 0.3% points from a month earlier and below the average so far this year of 4.9%. Looking back over the first nine months of the year, weekly Inflation Expectations have moved in a narrow band of 4.5% to 5.3% and averaged 4.9%. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 5,200 Australians aged 14+ per month over the last decade, and includes interviews with 6,031 Australians aged 14+ in September 2024.

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ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence eases 1.1pts to 86.4 in late October – second week in a row above the mark of 85

Original article by Roy Morgan
Market Research Update – Page: Online : 30-Oct-24

ANZ-Roy Morgan Consumer Confidence fell 1.1pts to 86.4 in the week to 27 October; however, Consumer Confidence has stayed above the mark of 85 for a second consecutive week for the first time since January 2023. Consumer Confidence is now 11.4 points above the same week a year ago (75.0), and 4 points above the 2024 weekly average of 82.4. A look at Consumer Confidence by State shows the measure driven down by falls in New South Wales, Queensland and South Australia, virtually unchanged in Victoria and up in Western Australia. Now 24% of Australians (unchanged) say their families are ‘better off’ financially than this time last year (the equal highest figure for this indicator since November 2022), while 47% (up 2ppts) say their families are ‘worse off’. Looking forward, 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 2ppts) expect to be ‘worse off’. Now 10% (up 2ppts of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 29% (up 1ppt) expect ‘bad times’. Meanwhile, 23% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 45% (unchanged) say now is a ‘bad time to buy’ (the equal lowest figure for this indicator since October 2022).

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Israeli parliament votes to ban UNRWA from Israel within 90 days

Original article by Andrew Roth
The Guardian – Page: Online : 30-Oct-24

The US and British governments have expressed concern after the Israeli parliament voted 92-10 to ban the United Nations Relief & Works Agency from operating in the country. The ban is slated to take effect within 90 days, and will prohibit the UNRWA from conducting any activity or providing any service in Israel, including Gaza and the occupied West Bank. UNRWA’s Commissioner-General Philippe Lazzarini says the vote will set a dangerous precedent, while British Prime Minister Keir Starmer warns that the ban will jeopardise the international humanitarian response in Gaza.

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UNITED NATIONS RELIEF AND WORKS AGENCY FOR PALESTINE REFUGEES IN THE NEAR EAST, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER

US on track to sell us Virginia-class subs

Original article by Joe Kelly
The Australian – Page: 5 : 23-Oct-24

Democrats congressional representative Joe Courtney has downplayed suggestions that the US government may adopt an alternative model for the AUKUS alliance. Veteran naval analyst Ronald O’Rourke recently proposed a so-called ‘Plan B’, whereby the US would retain ownership of Virginia-class nuclear-powered submarines rather than selling them to Australia. O’Rourke contended that this would allow the federal government to redirect billions of dollars to other defence programs. Courtney says he is not aware of any discussions in Congress regarding the O’Rourke plan, and he contends that the current AUKUS arrangement largely has bipartisan support.

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DEMOCRATIC PARTY (UNITED STATES)