🚀Prime minister says government needs to be ‘more strategic and more sophisticated’ to compete globally
Good Evening .
Welcome back to the Evening Post Wrap.
There is a lot going on today. The prime minister stated that his government was leading a "new wave" of public engagement in the private sector and the missile defence system that the United States had previously announced with assistance from the United Kingdom, Australia, and Japan.
Let’s dive in
Contact me via email, and don't forget to sign up for this newsletter here if you haven't already. Encourage a friend to subscribe as well!
The S&P/ASX 200 closed 34.9 points lower, down 0.45%.
With a final value of 7,813.6, the S&P/ASX 200 (XJO) fell 34.9 points from its session high and 0.79% from its low. Advancers trailed decliners in the more general S&P/ASX 300 (XKO) by a pitiful 90 to 190 points.
Probably as a result of a slight increase in the price of natural gas and crude oil overnight, the Energy (XEJ) (+1.2%) sector had the best performance today. Today's rally was significant for the sector because it ended a three-day losing streak and validated a recovery from the critical short-term trend ribbon support.
[ Read more ]
💡Evening’s Headlines
The latest report from Domain shows that rents for homes and apartments in Australia's big cities have reached all-time highs.
After receiving new information, crews searched for missing Ballarat mother Samantha Murphy for two days, but were unable to find her body.
Following hints that the US may drop charges against Julian Assange, the founder of WikiLeaks, Anthony Albanese has said, "Enough is enough."
🗳️ AUS POLITICS
Prime minister says government needs to be ‘more strategic and more sophisticated’ to compete globally
The Future Made in Australia Act, unveiled by Prime Minister Anthony Albanese on Thursday, aims to accelerate the clean energy transition by infusing government funds into the technology and infrastructure sectors.
The Prime Minister hailed the interventionist plans as a modern take on protectionism in a speech to the Queensland Media Club. Rather than attempting to retreat from free markets and global trade opportunities, the plans would realign Australia's economy to spur job growth and improve job security for the country's citizens. [Read more ]
🚨Health
What's the deal with social media and youth mental health?
Increasing use of social media and smartphones often cops the blame for an increase in youth mental health issues but the reality is not so simple.
We are in the middle of a mental health crisis.
Two new studies show that Americans are more worried about their mental health than their physical health. In the UK, research by King's College London found people of all ages agree that young people are struggling with their mental health, with parents blaming the COVID pandemic. In Australia, mental health services are in a ‘constant state of crisis’.
The trend has been around for some time, however, with significant increases in mental ill-health over the past two decades. [ Read more ]
📠 BUSINESS
Major Australian supermarket chains are alleged to have bought properties in order to "turf out" independent retailers.
The head of the company that makes IGA said that big supermarkets are holding on to land and paying too much for properties to keep other stores from opening.
During his testimony before a parliamentary enquiry into supermarket prices, Metcash CEO Grant Ramage called for steps to be taken to stop land banking.
🖥️ Technology
Porn, deep fakes, sextortion, and coercive control: Sold out symposium on technology-facilitated sexual violence explores the "new normal."
Sexual Assault Services Victoria (SASVic) will host: Responding to the New Normal: Technology-facilitated sexual violence, a symposium in Melbourne featuring leading UK and Australian experts exploring how technology is enabling sexual violence and investigating how to tackle its rise.
Forms of image-based abuse or non-consensual pornography, including deepfake pornography, are presenting new and profound challenges for victim survivors and for the specialist sexual assault and specialist family violence sectors.
SASVic is the peak body for Victoria’s 18 sexual assault services. Their work with close to 20,000 adults, young people and children gives them a unique insight into how sexual violence is evolving. [Read more ]
🌎 World Tonight
During a visit to Lithuania on Thursday, Ukrainian President Volodymyr Zelensky reiterated his calls for new air defence systems, as his war-torn nation faced increased Russian bombardment of its major cities. [AFP]
In the biggest financial fraud case in Vietnam history, real estate tycoon Truong My Lan was found guilty on Thursday and given the death penalty by a Ho Chi Minh City court, according to state media Vietnam Nett.
[ AP]The German airline Lufthansa (LHAG.DE), opens new tab on Thursday extended the suspension of its flights to Tehran due to the situation in the Middle East, which is on alert for Iranian retaliation for a suspected Israeli air strike on Iran's embassy in Syria. [REUTERS]
🏅 Fact Check
Navigating expanded nuclear power generation will require stronger and better safeguards while making sensible use of new technologies.
As the world counts down to a net zero future by 2050, nuclear energy is being touted as a potentially promising alternative to fossil fuels in achieving this target.
Nuclear power shows promise as a ‘green’ way to establish energy security while providing a reliable and scalable source of baseload power. [Read more ]
📰 Good News, Inspiring, Positive Stories
La Trobe recognised for health innovation in QS world subject rankings
La Trobe University has achieved impressive results in the prestigious QS World University Rankings by Subject, confirming its position as a global leader of tertiary education, particularly in health research and teaching innovation.
Notably, La Trobe has strengthened its performance in Nursing, which has entered the top 50 for the first time and is now ranked 44 in the world. It joins Sports-related Subjects in the top 50, which ranked 46 in the latest rankings.
Medicine has also entered the rankings for the first time, placing in the world’s top 200 at 192 and ranked third in Victoria and tenth nationally.