Australia’s Jess Hull prepares for the Olympics by breaking the 2000m world record in Monaco.

Jess Hull has broken the women’s world record in the 2000 meters at the Monaco Diamond League meeting with a stunning performance that reaffirms her as a genuine Olympic medal contender. The 27-year-old middle and long-distance star from NSW clocked 5 minutes 19.70 seconds, running solo in the rarely contested five-lap distance on Friday evening. Her brilliant effort, aided by pacemakers, shattered the previous record of 5:21.56 set by Burundi’s Francine Niyonsaba three years ago.

Australian consumers remain trapped in a recession.

A week ago, the Australian Bureau of Statistics (ABS) released its household spending indicator for May, revealing that consumers are continuing to cut back. Overall household spending increased by just 0.1% over the year to May, indicating a decline of around 6% in real per capita terms. This decline in household spending is mirrored in retail sales data, which experienced a similar drop in real per capita terms. The following chart from Justin Fabo at Antipodean Macro[more...]

Clean technologies are driving job growth in the energy sector, but the increasing skills shortage is a growing concern.

The IEA report examines global energy employment by region and technology, providing essential analysis of the industry’s evolving labor needs. The number of jobs in the global energy sector increased in 2022 as rising investments in clean energy technologies drove demand for new workers across all regions of the world. This new IEA report offers a benchmark for employment across all energy industries. The second edition of the World Energy Employment Report, published annually, maps energy sector[more...]

“The US discovery is set to infuriate financially strained Australians.”

It's enough to bring tears to the eyes of frustrated Aussies struggling with the soaring cost of living. An iconic Australian product, made in Australia from Australian ingredients, is cheaper to buy 16,000 km away from Australia than in Australia itself. In a New York's Lower East Side supermarket, owned by the family behind Aldi, news.com.au found scores of 500ml bottles of Red Island extra virgin olive oil. The brand is owned by Cobram Estates, Australia’s largest[more...]

Market Wrap: ASX200 Declines on Wednesday Due to Mining Retreat

Australia’s commodity heavyweights dragged the share market into the red on Wednesday, with another dip in iron ore prices causing a sell-off in large-cap mining stocks. The benchmark ASX200 fell 12.9 points, or 0.17 percent, to close at 7816.8, while the broader All Ordinaries index dropped 16.9 points, or 0.21 percent, to 8058.3. Tech stocks traded flat, finishing at 3109.7. The market recovered throughout the afternoon from a sharp morning slump, with the benchmark hitting a low[more...]

The Commonwealth Bank’s June Household Spending Index shows a decline for renters.

Banking giant Commonwealth Bank is warning of a growing divide in Australia between renters and homeowners. The bank’s latest household spending report indicates that Australians without homeownership are cutting back on expenses, while mortgage holders and outright owners are increasing their spending. According to the report, spending by renters has decreased by 0.9 percent in the year to June, whereas spending by mortgage holders has risen by 1.5 percent. Australians who own their homes outright have increased[more...]

Qantas’ new non-stop route to Europe has launched.

It's been two decades since the Flying Kangaroo tail-wing livery was regularly seen at Paris' Charles de Gaulle Airport, despite the global rise of ultra-long-haul flights. Now, the Flying Kangaroo is making a timely return to the French capital. The airline's first non-stop flight to Paris took off from Perth on Friday evening, just in time for the upcoming Paris Olympic Games, which kick off on July 26 with a spectacular opening ceremony along the Seine River,[more...]

Hollywood’s Democratic donors are distancing themselves from Biden.

Hollywood has always been a significant source of funding for the Democratic Party. However, concerns over US President Joe Biden's candidacy have not diminished, even after a lengthy news conference on Thursday where he asserted he had no plans to step aside despite mounting pressure from within his own party. Worries about his age have led some loyal A-list donors in one of the most liberal areas of the US to withdraw their support for Mr. Biden,[more...]

A passenger was ejected from a Rex Airlines flight from Perth to Melbourne for smoking a cigarette in the aircraft’s restroom.

A domestic flight departing from Perth was delayed nearly an hour when a passenger illicitly smoked a cigarette in the restroom. The Rex Airlines flight heading to Melbourne was held up for 50 minutes early on Thursday due to this incident. The Australian Federal Police were notified, and the individual voluntarily disembarked the plane around 12:30 am, according to an AFP spokesperson. The Federal Police are conducting an investigation, and no charges have been filed at this[more...]

The Commonwealth Bank’s June Household Spending Index shows a decrease in spending among renters.

The Commonwealth Bank has highlighted a widening gap in Australia between renters and other groups. According to their latest household spending report, Australians without property ownership have reduced their expenditures, while those with mortgages or outright ownership are increasing their spending. Spending among renters has decreased by 0.9% over the year to June, whereas mortgage holders have increased spending by 1.5% during the same period. Australians who own their homes outright have raised their spending by 2.1%[more...]