Midday News Bulletin 13 November 2024
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Australia aims to mediate US-China trade tensions under second Trump administration; Prime Minister Anthony Albanese discussed trade with Trump, emphasizing US trade surplus with Australia; Australia-Indonesia flights disrupted due to Mount Lewotobi Laki-laki's volcanic eruption, killing nine and evacuating over 15,000; Over 50,000 nurses and midwives strike in New South Wales for a 15% pay rise, delaying 600-700 surgeries; Biden administration finds Israel compliant with US law regarding Gaza aid, despite dire humanitarian conditions; Alex de Minaur's ATP Finals hopes fade after loss to Daniil Medvedev, needing a win against Taylor Fritz to advance.

#Australia #UsElection #Trade #Volcano #NursesStrike #Gaza #Tennis #Medvedev #Albanese #Trump

https://www.sbs.com.au/news/podcast-episode/midday-news-bulletin-13-november-2024/lr17qu8h4 

 'Not immune': Jim Chalmers to speak about Australian economy under Trump tensions
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Treasurer Jim Chalmers will address the Australian economy's resilience to potential pressures from a second Donald Trump presidency on November 11, 2024; he asserts Australia is 'not immune' but likely to fare better than other nations; Trump has proposed significant tariffs on imports; Chalmers anticipates a small reduction in output and price pressures in the short term; he emphasizes Australia's flexible exchange rate and independent central bank as mitigating factors; the global impact of US tariffs is expected to be more substantial; Chalmers highlights the interlinkage of economic and foreign policy; Prime Minister Anthony Albanese will attend APEC and G20 summits later in the week; Chalmers expresses confidence in navigating changes under a new US administration.

#JimChalmers #Australia #Trump #Economy #Tariffs #ForeignPolicy #Apec #G20 #Albanese #UsRelations

https://www.sbs.com.au/news/article/not-immune-jim-chalmers-to-speak-about-australian-economy-under-trump-tensions/8ltf2uy71 

 'Ugly' comments won’t stop diverse voters from supporting Trump. This is why
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Donald Trump's presidential campaign focuses on tough immigration policies; diverse voter support for Trump is increasing despite his inflammatory rhetoric; Trump blames Kamala Harris for crime associated with undocumented immigrants; Trump's comments about immigrants include derogatory language; a New York Times-Siena poll shows 37% of Hispanic voters support Trump, up from 32% in 2020; immigration is a key issue for many Latino voters; Trump's appeal includes economic concerns and a promise of tax cuts; some Latino voters do not see Trump's anti-immigrant rhetoric as targeting them; Trump's slogan 'Make America Great Again' resonates with voters feeling threatened by change; foreign policy may influence voting among communities affected by violence; Arab Americans are disillusioned with Biden's support for Israel; diverse communities' votes could significantly impact the election outcome; the election is expected to be very close.

#Trump #Harris #2024Election #Immigration #LatinoVoters #ArabAmericans #ForeignPolicy #DiverseCommunities #EconomicConcerns #PoliticalRhetoric

https://www.sbs.com.au/news/article/ugly-comments-wont-stop-diverse-voters-from-supporting-trump-this-is-why/kgnp1xale 

 Groups pen their frustration over skilled migrants and key shortages in economy
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An alliance of businesses, unions, and community organizations has written an open letter to the Australian Parliament urging action on skilled migrant recognition. The Productivity Commission reported in 2023 that over a third of occupations face national shortages, a 5% increase from 2022 and 17% from 2021, particularly in healthcare, engineering, and trades. Violet Roumeliotis, CEO of Settlement Services International, highlights that nearly half of permanent migrants work below their skill levels due to a cumbersome recognition system. The costs for recognition can exceed $8,000 for dentistry and $10,000 for construction. Antonio Michell, a physiotherapist from Chile, has faced an eight-year delay in getting his qualifications recognized. The Activate Australia’s Skills campaign, supported by former Socceroo Craig Foster, emphasizes that allowing skilled migrants to work at their capability could boost Australia's GDP by $9 billion annually. The alliance calls for a national governance system for recognition, reduced costs, and an online portal for navigation.

#SkilledMigrants #Economy #Australia #SkillsShortage #Recognition #Healthcare #Engineering #Trades #Migration #Gdp

https://www.sbs.com.au/news/podcast-episode/groups-pen-their-frustration-over-skilled-migrants-and-key-shortages-in-economy/4qjxysn0c 

 Donald Trump and Kamala Harris' presidential debate — as it happened
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The 2024 US Presidential Debate occurred on 11 September 2024 in Philadelphia; Kamala Harris emphasized a future-focused vision, advocating for an 'opportunity economy' and protection of fundamental rights; Donald Trump criticized Harris for inaction during her 3.5 years in office, labeling the US as a 'failing nation'; Trump stated he would keep Obamacare unless a better plan is found, while Harris defended the Affordable Care Act; Harris supported the withdrawal from Afghanistan, while Trump claimed he could resolve the Russia-Ukraine war quickly; both candidates discussed the Hamas-Israel conflict, with Harris advocating for a ceasefire; Trump repeated false claims about the 2020 election and made baseless claims about immigrants; the debate highlighted stark differences in economic policies, with Harris proposing a $6,000 child tax credit; the debate format included timed responses and no audience interaction.

#Trump #Harris #2024Election #Debate #UsPolitics #Healthcare #Immigration #Economy #ForeignPolicy #Abortion

https://www.sbs.com.au/news/live-blog/donald-trump-and-kamala-harris-presidential-debate-as-it-happened/hamz45b79 

 INTERVIEW: Former Trump adviser tells SBS he's backing Kamala Harris
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Anthony Scaramucci, former communications adviser to Donald Trump, endorses Kamala Harris for the November 2024 presidential election; warns Trump is a dangerous man; Scaramucci was sacked in 2017; he runs hedge fund SkyBridge Capital; attended Association of Superannuation Funds investment summit in Australia; criticizes US central bank for delaying interest rate cuts, risking recession; expects three rate cuts in 2024.

#AnthonyScaramucci #KamalaHarris #DonaldTrump #2024Election #UsEconomy #InterestRates #Politics #Australia #Investment #HedgeFund

https://www.sbs.com.au/news/podcast-episode/interview-former-trump-adviser-tells-sbs-hes-backing-kamala-harris/tr25vqr4u 

 'Markets in meltdown': ASX set for more pain as global stock markets drop sharply
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The Australian share market suffered its worst day in more than four years on Monday as rising fears of a US recession sparked global panic selling; Wall Street's main indexes have slumped as fears of the United States tipping into recession following weak economic data last week rippled through global markets; Bourses from Asia to Europe took a beating and bond yields slipped as investors rushed to safe-haven assets and bet the US Federal Reserve would need to cut interest rates aggressively to spur growth; US Treasury yields fell to their lowest in a year and a closely watched gap between two- and 10-year Treasury notes turned positive for the first time since July 2022, usually indicating US economy is heading into a downturn; Australian stocks closed down 3.7 per cent on Monday, wiping more than $100 billion from the stock market



https://www.sbs.com.au/news/article/markets-in-meltdown-asx-set-for-more-pain-as-global-stock-markets-drop-sharply/4ecl7isj7 

 SBS On The Money: Markets crumble ahead of US GDP
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Asian markets are tumbling as US tech stocks undergo a major correction, putting pressure on the Aussie dollar. Rhayna Bosch interviews Chris Weston, Head of Research at Pepperstone, to discuss the global economic factors at play.



https://www.sbs.com.au/news/podcast-episode/sbs-on-the-money-markets-crumble-ahead-of-us-gdp/nxabr9wsh 

 Counting the cost: Economists weigh in on the major IT outage's impact on Australia
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An IT outage in Australia caused by a software upgrade error by Crowdstrike impacted banks, supermarkets, airports, and other businesses. The financial costs are expected to be tallied by economists in the coming days. Many businesses had to close or operate in a limited capacity, leading to disruptions in transactions and money flow through the economy. The economic impact is expected to be significant, potentially in the billions of dollars, although some factors may mitigate the overall impact. The outage had a limited impact on the stock market in Australia, but the US market experienced a downturn. Experts do not expect long-term economic effects unless there are threats to national security. The incident highlights the vulnerability of Australia's systems and the need for backup options. Published on July 21, 2024, by Jessica Bahr for SBS News.

#ItOutage #Economy #Australia #Businesses #FinancialCosts

https://www.sbs.com.au/news/article/counting-the-cost-economists-weigh-in-on-the-major-it-outages-impact-on-australia/1dx3d2e5x 

 How well-prepared are Filipinos for the evolving methods of sending remittances to their loved ones
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Filipinos have been sending remittances through personal bank-to-bank deposits and online money transfers. In 2023, there were over 2.33 million registered overseas Filipino workers (OFWs) worldwide, and their remittances contributed significantly to the Philippine economy, amounting to US$37.2 billion. However, many Filipinos, like Wilma O'Brien, remain uncertain and unprepared for digital currencies such as cryptocurrency. Wilma O'Brien has been consistently sending remittances to her family in the Philippines since the 1990s. She used to send money through the bank but now prefers online money transfers for their convenience and speed. She has not experienced any scams so far. While she is comfortable with online and digital money transfers, she believes that older recipients may have difficulty with technology and internet access. She is not interested in learning about or investing in cryptocurrency due to concerns about scams. Overall, Filipinos rely on traditional methods of remittance but are slowly adapting to digital methods.

#Remittances #Filipinos #DigitalMethods #OverseasFilipinoWorkers

https://www.sbs.com.au/language/filipino/en/podcast-episode/how-well-prepared-are-filipinos-for-the-evolving-methods-of-sending-remittances-to-their-loved-ones/d0ros571x 

 Parks, bike paths and tiny treasures: Alice Springs' services call for a focus on funding families
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Alice Springs is preparing to exit a three-week youth curfew, and a local children's centre is advocating for alternative ways to fund safe communities. The Larapinta Child and Family Centre in Alice Springs has had success in creating safe spaces for children by revamping a local park and launching a bike riding program. The centre used its one-off seed funding to fund the park revamp and the pilot program, which has taught children to ride and build bush bikes. More than 200 bikes have been rebuilt and gifted to children in the Larapinta neighborhood. The program focuses on building leadership, social skills, community, and self-esteem. The coordinator of the centre, Cassie Boyle, emphasizes the importance of providing support to parents and hopes to see similar programs rolled out for other families and communities across Alice Springs. Blair McFarland, the founder of the Central Australian Youth Link Up Services, believes that addressing the problems in Alice Springs requires programs that build community, lift children, and create jobs. He highlights the need to address poverty, hunger, and homelessness affecting young people in the area. McFarland suggests implementing successful programs and changing government policies to bring about lasting change in Alice Springs.

#AliceSprings #YouthCurfew #Children'sCentre #Funding #Community #BikeRidingProgram

https://www.sbs.com.au/nitv/article/parks-bike-paths-and-tiny-treasures-alice-springs-services-call-for-a-focus-on-funding-families/x6v5y1b0a 

 'We will not walk away': Key takeaways from Joe Biden's State of the Union speech
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Joe Biden delivered his State of the Union address at a critical time in the 2024 election cycle. He took aim at former president Donald Trump without naming him, criticized him for 'bowing down' to Russian President Vladimir Putin, and called for continued support for Ukraine. Biden also spoke about reproductive rights, vowing to restore Roe v Wade, and addressed the ongoing crisis in the Middle East, calling on Israel to protect innocent civilians in Gaza. He accused Trump and Republicans of trying to rewrite history about the Capitol riot and emphasized the strength of the US economy. Opinion polls show Biden and Trump closely matched in the race for the White House.

#JoeBiden #StateOfTheUnion #DonaldTrump #2024Election #Ukraine #Russia #Nato #ReproductiveRights #RoeVWade #Israel #Gaza #CapitolRiot #UsEconomy

https://www.sbs.com.au/news/article/we-will-not-walk-away-key-takeaways-from-joe-bidens-state-of-the-union-speech/1wg2yt988 

 Detained Australian writer Yang Hengjun handed suspended death sentence by Chinese court
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Australian writer Yang Hengjun has been handed a suspended death sentence by a Chinese court. He was arrested in August 2019 on suspicion of espionage and has spent more than four years in a Beijing prison. Yang was charged in 2021 with endangering national security by joining or accepting a mission from an unidentified espionage organization. The sentence can be commuted to life imprisonment after two years if he does not commit any serious crimes during that period. The Australian government has expressed its objections to the outcome and will continue to advocate for justice and appropriate medical treatment for Yang. China's ambassador to Australia will be summoned to discuss the issue. Australian officials were not able to attend Yang's trial in 2021. Published on February 5, 2024, at 1:57 PM. Updated at 2:24 PM.

#YangHengjun #AustralianWriter #ChineseCourt #SuspendedDeathSentence #Espionage #NationalSecurity #Advocacy #MedicalTreatment

https://www.sbs.com.au/news/article/detained-australian-writer-yang-hengjun-handed-suspended-death-sentence-by-chinese-court/twjycxica