Australia


Australia posts faster than expected recovery as stimulus kicks in

Australia posts faster than expected recovery as stimulus kicks in

(ATF) Australia's economy expanded at a much faster-than-expected pace in the final quarter of 2020, data showed on March 3, helped by massive monetary and fiscal stimulus.The economy accelerated 3.1% in the three months to December, the Australian Bureau of Statistics (ABS) said, higher than forecasts for a 2.5% rise."The …

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Chinese investment in Australia plunges as relations sour

Chinese investment in Australia plunges as relations sour

(ATF) Chinese investment in Australia plunged almost two-thirds last year to less than US$1 billion as the impact of coronavirus was compounded by increasingly fraught relations.The new figure marks the fourth straight annual drop and is just a fraction of the US$13 billion injected into the country in 2016, with …

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Facebook switches news back on for Australians after content deal

Facebook switches news back on for Australians after content deal

(ATF) Facebook on February 26 restored access to news for its Australian users after a week-long hiatus as it reached agreement with the government on complying with a landmark law requiring tech firms to pay for editorial content.The US social media giant's Australian readers were able to read news from …

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Australia enacts landmark law to make tech firms pay for news

Australia enacts landmark law to make tech firms pay for news

(ATF) The online world is watching Australia this week after the nation’s parliament passed landmark legislation on February 25 requiring global digital giants to pay for local news content.The new law – the culmination of an often bitter tussle between the Australian government and media on one hand, and the …

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Facebook to restore news pages after deal with Australian govt

Facebook to restore news pages after deal with Australian govt

(ATF) A compromise has been reached between Facebook and the Australian government, which will see the internet giant restore local news pages after the government agreed to amend its proposed law. The bill will force tech giants to pay for media content displayed on their platforms.Australia and the social media …

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Facebook ratchets up fight with Australia over news payments

Facebook ratchets up fight with Australia over news payments

(ATF) The Australian government said on Thursday (Feb 18) that vital information on Facebook would be restored, after the social media giant erased local content in an escalating fight with Canberra over payments for news.The social media giant was widely criticised by politicians and human rights advocates after hundreds of …

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News Corp agrees global content deal with Google

News Corp agrees global content deal with Google

(ATF) Rupert Murdoch’s News Corp struck a global news deal with Google, the media company said on Wednesday February 17, in the most extensive agreement yet for news content with big tech.The two companies will develop a subscription platform, share advertising revenue through Google’s ad technology services, build audio journalism …

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Glencore reinstates dividend amid post-pandemic optimism

Glencore reinstates dividend amid post-pandemic optimism

(ATF) Glencore reinstated its dividend and flagged possible further payouts on the back of strong commodity prices, signalling an optimistic market for global miners and commodities brokers.The commodities trading giant recommended a distribution of $0.12 per share for 2021, representing a bigger than expected total payout of $1.6 billion, having …

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Second regulator to question Crown Resorts' fitness to run casino 

Second regulator to question Crown Resorts fitness to run casino 

(ATF) Australia’s largest gambling company, Crown Resorts, suffered another blow to its reputation on February 16 when Western Australia's watchdog announced an inquiry into its Perth casino.Crown was already reeling from last week's ruling in New South Wales, the country’s most populous state, that it was unfit to hold a …

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BHP bulks up its half-year dividend as demand for iron ore soars

BHP bulks up its half-year dividend as demand for iron ore soars

(ATF) BHP, the world’s biggest mining company, announced a record $5.1 billion interim dividend as half-year profits hit a seven-year high due to surging prices for iron ore. China’s reliance on commodities to sustain economic growth has sent prices of the steelmaking ingredient to multi-year highs, while the Covid-19 vaccination …

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