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Posts area Latest 1 of 1 Go to latest Pinned post from 5.04am Voters think Albanese government has wrong priorities, poll finds By Josefine Ganko Most Australians feel they are poorer now than they were three years ago, as a poll reveals widespread dissatisfaction with the Albanese government’s priorities. A new Redbridge poll found 52 per cent of those surveyed either disagreed or strongly disagreed with the proposition that the government has the right focus. 40 per cent of voters said Peter Dutton was ready for office, slightly more than the 39 per cent who said he was not. Asked on Seven’s Sunrise if the polling meant Australia was “in the mood for change”, Social Services Minister Amanda Rishworth said the government was focused on the cost of living, while the Coalition was blocking bills. Loading Directing her comments to Liberal senator Jane Hume, Rishworth said: “You’ve voted against our housing bills. Blocked our cost of living measures. Fought against our energy price measures. Everything we’ve done, the Liberal Party have fought against it...” Hume repeatedly interjected Rishworth’s response, asking “Where have you been for 21⁄2 years?” “You spent a year concentrating on the Voice referendum,” she quipped. Meanwhile, on Nine’s Today , Nationals senator Matt Canavan also responded to the poll, saying Australians were poorer because “we’ve adopted a lot of stupid policies that deny Australians the use of their own energy resources that load our country with way too much red tape”. Last month, the Resolve Political Monitor found Australians hold Labor accountable for the financial pain of rising prices and the cost of housing. Thirty-six per cent believe the federal government is responsible for their rising living costs – far greater than the 13 per cent who blame global factors outside Australia’s control. Latest posts Latest posts 5.56am ‘I’ve done a backflip’: MP turns against social media ban By Olivia Ireland Independent MP Andrew Wilkie has backflipped on supporting the government’s teen social media ban, saying he has realised “the whole thing’s a nonsense”. Yesterday, moderate Liberal MPs Bridget Archer and Richard Colbeck threatened to vote against the ban that Opposition Leader Peter Dutton wants to ram through the parliament with Labor. “I got it wrong and I’ve changed my mind”: Independent MP Andrew Wilkie. Credit: Mick Tsikas Speaking on ABC Radio National this morning, Wilkie said he had changed his mind about supporting the bill. “I’ve got a confession to make. I’ve done a backflip on this,” he said. Loading “I got it wrong and I’ve changed my mind. I’ve got two teenage daughters and I’ve got three teenage stepsons. My first response to the news that under 16s would be banned: ‘I agree with joy’, I thought ‘that’s a great idea’. “But as soon as I started to research it, as soon as I started to hear commentary from youth and adolescent mental health experts, from youth welfare experts, from technical experts to talk about the practicalities of this ... I realise[d] the whole thing’s a nonsense and, frankly, I am doubtful that it will ever be realised.” 5.43am Road closures for the opening of Parliament By Felicity Caldwell The Queensland election was a month ago but the pomp and circumstance will happen today, with the Governor to travel to Parliament House to formally open the 58th Parliament, meaning there will be road closures in the city. Upon Governor Dr Jeannette Young’s arrival at the Queensland Parliament at 1.40pm, a 19-gun salute will fire from Kangaroo Point, and she will receive a royal salute from the Royal Guard, be invited to inspect the Guard, the Australian Army band, Brisbane and Queensland mounted police escort. She will then deliver the opening address in Parliament, outlining the priorities and objectives of the incoming LNP government. These are the road changes: Alice Street parking lanes between Albert and William streets will be closed 10am to 3pm; George Street will be closed between Alice Street and the entrance to QUT from 9am to 4pm. QUT drop-off will be available until 9am and after 4pm; Pedestrian access from the intersection of George and Alice streets to QUT will be closed from 12pm to 2pm; Lower River Terrace, Kangaroo Point will be closed to traffic from 6am to 4pm; Footpaths and bikeways along Lower River Terrace will be closed for 10 to 15 minutes from 1.40pm. 5.35am Biden welcomes Israel-Hezbollah ceasefire, as Israeli cabinet approves deal By AP President Joe Biden on Tuesday called Israel and Hezbollah’s ceasefire agreement “good news” and expressed hope the pause in more than 13 months of fighting will be the catalyst to also end the war in Gaza. Biden made his comments in a Rose Garden speech. He stressed that Israel reserved the right to quickly resume operations in Lebanon if Hezbollah broke the terms of the truce. US President Joe Biden administration has been trying to calm relations with Beijing. Credit: AP Biden added that the deal between Israel and Hezbollah “was designed to be a permanent cessation of hostilities”. The president’s comments come as Israeli Prime Minister Benjamin Netanyahu’s security Cabinet approved a ceasefire deal with Hezbollah, clearing the way for the truce to take effect. Netanyahu’s office said the plan was approved by a 10-1 margin. The late-night vote came shortly before President Joe Biden was expected to announce details of the deal in Washington. Earlier, Netanyahu defended the ceasefire, saying Israel has inflicted heavy damage on Hezbollah and could now focus its efforts on Hamas militants in Gaza and his top security concern, Iran. Netanyahu vowed to strike Hezbollah hard if it violates the expected deal. Read more about the ceasefire deal in the full story here. Advertisement 5.04am Voters think Albanese government has wrong priorities, poll finds By Josefine Ganko Most Australians feel they are poorer now than they were three years ago, as a poll reveals widespread dissatisfaction with the Albanese government’s priorities. A new Redbridge poll found 52 per cent of those surveyed either disagreed or strongly disagreed with the proposition that the government has the right focus. 40 per cent of voters said Peter Dutton was ready for office, slightly more than the 39 per cent who said he was not. Asked on Seven’s Sunrise if the polling meant Australia was “in the mood for change”, Social Services Minister Amanda Rishworth said the government was focused on the cost of living, while the Coalition was blocking bills. Loading Directing her comments to Liberal senator Jane Hume, Rishworth said: “You’ve voted against our housing bills. Blocked our cost of living measures. Fought against our energy price measures. Everything we’ve done, the Liberal Party have fought against it...” Hume repeatedly interjected Rishworth’s response, asking “Where have you been for 21⁄2 years?” “You spent a year concentrating on the Voice referendum,” she quipped. Meanwhile, on Nine’s Today , Nationals senator Matt Canavan also responded to the poll, saying Australians were poorer because “we’ve adopted a lot of stupid policies that deny Australians the use of their own energy resources that load our country with way too much red tape”. Last month, the Resolve Political Monitor found Australians hold Labor accountable for the financial pain of rising prices and the cost of housing. Thirty-six per cent believe the federal government is responsible for their rising living costs – far greater than the 13 per cent who blame global factors outside Australia’s control. 4.57am Another warm day, and it could be wet, too It’s likely to be another cloudy day in Brisbane, with a medium chance of showers throughout the day. And the temperature is forecast to reach a maximum just short of 30 degrees. The weather bureau predicts a slight breeze throughout the day also, dropping off into the evening. Here’s the seven-day outlook: 4.55am Headlines of what’s happening elsewhere Stories making the rounds further afield this morning: The grieving families of two backpackers who died after a suspected mass methanol poisoning have returned to Australia with the bodies of their daughters after living every parents’ nightmare. The Australian economy has been destabilised by incoming US president Donald Trump’s declaration of a tariff war on three of America’s biggest trading partners. Natalie Harp watches Donald Trump. Credit: Doug Mills/The New York Times Trump has always demanded loyalty from his aides but few have answered the call quite like Natalie Harp . A 33-year-old former far-right cable TV host, Harp is nearly always at Trump’s side and has written him a series of devotional letters. Now she is poised to play an influential role in his White House. Israeli Prime Minister Benjamin Netanyahu has announced he will recommend a proposal for a ceasefire with Hezbollah to his cabinet for approval, setting the stage for an end to nearly 14 months of fighting. And from January 8, Australians will need an electronic travel authorisation to enter the UK. You can apply for yours now. Advertisement 4.43am The top stories for this morning Good morning, thanks for joining us for Brisbane Times’ live news blog. It’s Wednesday, November 27, and we’re expecting a partly cloudy day and a top temperature of 29 degrees. In this morning’s local headlines: Did Brisbane’s buses get more crowded after 50¢ fares? What impact has working from home had on public transport? We have the latest figures from Translink . Queensland’s new LNP government will push a regular end-of-year budget update into early 2025 to give it time to “get our head around” Labor’s cost blowouts, says Treasurer David Janetzki. Queensland remains in the grip of a whooping cough outbreak , with staff at Brisbane public hospitals reporting up to 28 times the number of cases normally seen by this time of year. Thirty-four years ago, former umpire Ian Stewart was viciously assaulted . As he reflects on the damage caused by an angry player, a Queensland academic explains why decision-makers shouldn’t be surprised by “concussion crises”. And it took just a $30 investment and a tug on his heartstrings to convince former St George Illawarra captain Ben Hunt that he belonged back at the Broncos , where his career began. Ben Hunt has agreed to a two-year Broncos deal worth about $550,000 annually – significantly less than what he was earning at St George Illawarra. Credit: Getty Latest 1 of 1 Latest Most Viewed in National LoadingNoneYoung Republican and Democratic Lawmakers and Activists Receive Political Bridge-Building Award
NEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.
A trade adviser to President-elect Donald Trump indicated that the administration would adopt a tough stance against any attempts by China to manipulate its currency. Peter Navarro, Trump's senior counselor for trade, emphasized that while the Treasury Department's reviews will proceed without White House interference, any manipulative actions by China would be met with resistance. In 2019, Trump's administration labeled China a currency manipulator for the first time since 1994; although the determination was later revoked, it highlighted a willingness to confront China economically. Reuters reported that with Trump's potential return to the White House, Chinese leaders are considering weakening the yuan by 2025 in anticipation of heightened trade tariffs. The move signals a need for economic stimulus as threats of punitive measures persist. Trump's trade adviser, Navarro, suggested that the U.S. might impose higher tariffs if China proceeds with its currency plans. Immediate action against currency manipulation might include increasing tariff rates without waiting for Treasury reports. (With inputs from agencies.)
Manchester United criticised over ‘offensive’ price increase for match tickets