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👋 I’m Miko and welcome back to the Evening Wrap.
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At 7,821.8, the S&P/ASX 200 (XJO) closed 52.8 points higher than its session low and just 0.20% below its high. A notable 186 to 92 difference separated advancers and decliners in the more general S&P/ASX 300 (XKO).
Today, all eleven of the main ASX sectors saw gains, with one sub-sector, Gold (XGD) (+2.2%), showing the greatest performance of the group. After bouncing back on Wednesday, the prices of silver and gold have both continued to rise in Asian trading. [Read More]
💡Here are a few headlines from this morning:
Greens Leader Threatens Legal Action Against Dreyfus for Defamation. Attorney General Mark Dreyfus has been threatened with legal action by Greens leader Adam Bandt for comments he made that he claims were defamatory.
New Investment Housing Loans Rise 5.6% in April: ABS. The Australian Bureau of Statistics reported today that new housing loans to investors rose 5.6% to $10.9 billion in April, up 36.1% from a year earlier.
NSW Premier Chris Minns says he apologizes for the state's past anti-gay laws. Chris Minns, the premier of NSW, is expressing his regret to LGBTIQ people who suffered discrimination as a result of homosexuality laws in parliament.
🗳️ HEADSTART
Australian Political Tensions Rise: Greens Accused of Encouraging Violence
Greens leader Adam Bandt has threatened legal action against Attorney General Mark Dreyfus for comments he claims were defamatory.
In a statement, Mr. Bandt said, "My lawyers have written to the Attorney-General regarding what I consider to be defamatory statements he made about the Greens and me yesterday.
During Question Time in Parliament
The opposition leader, Peter Dutton, called the Greens "evil" and said they were "central" to protests on college campuses, adding to the tensions in parliament over a rise in antisemitism and Islamophobia brought on by the Gaza War.
Question Time in Parliament broke out on Wednesday when Dutton claimed the Greens were encouraging acts of violence rather than denouncing them. Anthony Albanese accused the party of disseminating false information about Australia's military exports.
Peter Dutton
Petter Dutton has told 2GB that the Greens leader, Adam Bandt, is “not fit to be in public office” over his position on Gaza.
PM Anthony Alabanese
Prime Minister Anthony Albanese has accused the Greens of "causing division in the Australian community" by supporting anti-Israel rhetoric and pro-Palestine protests.
Mr. Albanese and Opposition Leader Peter Dutton attacked the Greens on Wednesday for supporting "unacceptable" pro-Palestinian protests targeting MPs' offices and spreading misinformation about Australia's military exports.
Green Leader Adam Bandt
Earlier, Mr. Bandt claimed that Labour's attempts to shift the blame away from their involvement in the ongoing carnage and onto the Greens in order to justify the growing dissatisfaction in the community over their support for the invasion of Gaza.
In response, Mr. Bandt said, “I will not be lectured to about peace and non-violence by a Prime Minister and Opposition Leader who back the invasion of Gaza.”
Why does this matter?
This matters because it highlights the ongoing political tensions surrounding the situation in Gaza and the differing stances of political parties. It also underscores the importance of clear communication and accountability in times of conflict.
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🔥 HOT COPY
Multiple Probes into Robodebt Scheme: NACC's Decision Not to Pursue
Six public officials involved in the Robodebt scandal are the subject of new corruption investigations by the National Anti-Corruption Commission (NACC), which has declared that it will not pursue these cases.
The background
In accordance with section 6P(2B) of the Royal Commissions Act 1902 (Cth), the National Anti-Corruption Commission (Commission) received referrals regarding six public officials from the Royal Commission into the Robodebt Scheme (Robodebt Royal Commission) on July 6, 2023.
Based on information obtained, the Commission has learned that five of the six public servants were also referred to the Australian Public Service Commission (APSC).
The APSC was looking into 16 former public servants, the government announced in November. However, the attorney general would not comment on NACC investigations.
Between 2015 and 2019, the scheme fraudulently collected over $1.7 billion in debt against over half a million recipients of social security.
NCC Statement :
The Commission reviewed the material provided by the Robodebt Royal Commission and discovered that five of the six officials were also subjected to referrals to the Australian Public Service Commission.
The Commission is aware of the impact of the Robodebt Scheme on individuals and the seniority of the officials involved.
However, the Commission has concluded that it is unlikely to obtain significant new evidence and that conducting multiple investigations into the same matter could lead to inconsistent outcomes, further burdening the individuals involved, and potentially perpetuating injustice and unfair treatment.
The Commission will persist in addressing integrity issues highlighted in the final report, specifically concerning ethical decision-making, to guarantee that lessons are absorbed and public officials are held accountable for their actions.
Why does this matter :
This issue is crucial as it underscores the need for accountability and transparency in government operations, especially in managing public funds and making decisions that directly influence the lives of individuals. Furthermore, it stresses the critical need to establish robust oversight and ethical standards within government agencies to prevent the recurrence of such issues in the future.
🛒 MARKET EDGE
ACCC Voices Concerns Over Icon Group's Lease Acquisitions
The Australian Competition and Consumer Commission (ACCC) has expressed some concerns about Icon Group's proposed acquisitions of leases at St Andrew's Ipswich Private Hospital in Queensland, St Vincent's Private Hospital Northside in Chermside, Queensland, and St John of God Geelong Hospital in Victoria. [ Read more ]
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🌎 World Tonight
🇪🇸 Spain. Spain's foreign minister announced Thursday that it will request UN court permission to join South Africa's Gaza genocide case.
🇿🇦 South Africa. Authorities in KwaZulu-Natal, South Africa, reported 11 deaths and over 50 injuries from tornadoes on Monday.
🇮🇱 Israel. Local officials say an Israeli air strike on a UN school with hundreds of displaced people in central Gaza killed at least 27.
🇷🇺 Russia. After NATO allies allowed Ukraine to attack Russia, President Vladimir Putin warned Wednesday that Russia could provide long-range weapons to others to strike Western targets.
🇲🇽 Mexico. A Mexican man died from a bird flu strain called H5N2 that has never been found in humans, the WHO said Wednesday.
🏅VIEWPOINT 360
Modi's grip on power slips with resounding personal defeat
The people of India have rejected Narendra Modi's majoritarian Hindu politics. Even if Modi's coalition returns him to power, his message has to change.
Despite his reluctance to concede defeat, the results of the Indian general election are a major setback for outgoing Prime Minister Narendra Modi. His party, the Bharatiya Janata party (BJP), has failed to secure a majority on its own.
The BJP has heavily lost ground in its traditional stronghold states of Uttar Pradesh, Haryana, Rajasthan and Maharashtra, with a combined swing of 57 seats against it across the four regions.[Read more]
📰 Good News, Inspiring, Positive Stories
Migraine Australia re-commits to drug fight on Burple Day
Migraine Australia is doubling down on the fight for equality in medical care on the inaugural 'Burple Day' to raise awareness of migraine.
Migraine Awareness Month is held in June each year. It is the major annual awareness activity of the global migraine community with over 35 countries conducting activities throughout the month. Migraine Australia, the only patient body supporting Australians living with migraine, has led the month of activities each year since bringing the event to our shores in 2020.
Burple Day was added to the activities this year to make it easy for everyone to show their support for the five million Australians living with migraine by simply wearing anything burgundy or purple on the first Friday in June, June 7. [Read more]
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