Fri, November 29, 2024

[ Fri, Nov 29th 2024 ]: Brian Stokes

Lower interest rates, richer households: Just add a dash of competition

The nation's treasurers have signed up to a decade-long program that promises lower inflation, a cut in interest rates and richer households.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Kennedy's Inheritance: How Addiction and Trauma Shaped a Turbulent Life

Donald Trump's pick to be health secretary, Robert F. Kennedy Jr. has reached a pinnacle of power after a life of fame and addictions and a career intertwined with conspiracy theories.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: Landmark assisted dying debate under way, with result of vote uncertain

Louise Haigh has quit as transport secretary after Sky News revealed she pleaded guilty to an offence connected with incorrectly telling police that a work mobile phone was stolen in 2013. Meanwhile,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Japan PM Ishiba aims to form broad consensus as leader of minority government

[ Fri, Nov 29th 2024 ]: Brian Stokes

Actress Silvia Pinal, legend of Mexican film and television, dies at 93

Silvia Pinal, a legendary Mexican actress who starred in Luis Buñuel's iconic "Viridiana," has died, according to officials. She was 93.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Transport secretary Louise Haigh quits over phone offence

Transport Secretary Louise Haigh has admitted pleading guilty to a criminal offence relating to a police investigation over a mobile phone she claimed was stolen. She has admitted that, a decade ago, she told police she had lost her work mobile phone in a mugging, but later found it had not been taken.

[ Fri, Nov 29th 2024 ]: Brian Stokes

European Stocks Pause as Tariff Risks, French Politics Weigh

European stocks were steady on Friday as investors looked for fresh catalysts amid worries over trade tariffs and recent political turmoil in France, with the government struggling to approve the budget.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Major winter fuel payment update in Scotland as Keir Starmer comes under pressure

The Prime Minister is under pressure after the Scottish government announced every OAP north of the border would receive a winter heating payment worth at least £100 in 2025

[ Fri, Nov 29th 2024 ]: Brian Stokes

Who is Louise Haigh, as the transport secretary quits over phone offence?

Louise Haigh had been the youngest member of the Cabinet before it came to light that she had an old conviction for fraud by misrepresentation

[ Fri, Nov 29th 2024 ]: Brian Stokes

'Wildly disruptive': What happened last time Trump moved a federal agency out of DC

As part of his campaign to reclaim the White House, Donald Trump made clear that in a second term in office, he'd move tens of thousands of federal jobs outside the "Washington swamp" and into "places filled with patriots who love America.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: Landmark assisted dying debate under way; Tories attack PM's 'poor judgement'

Louise Haigh has quit as transport secretary after Sky News revealed she pleaded guilty to an offence connected with incorrectly telling police that a work mobile phone was stolen in 2013. Meanwhile,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Inside the AI back-channel between China and the West

The race for technological advantage makes it hard for China and America to reach agreement on shared AI safety protocols. When representatives from both governments met in Geneva in May to discuss the risks of AI, they struggled to move beyond China's fury at the semiconductor export ban.

[ Fri, Nov 29th 2024 ]: Brian Stokes

UK crackdown: Employers underpaying migrant workers to face penalties

[ Fri, Nov 29th 2024 ]: Brian Stokes

Ottawa to announce boost to border-security measures after Trump's tariff pledge

Border measures would likely be announced in a fall economic statement unless government determined that parliamentary gridlock prevented it, source says

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: Landmark assisted dying debate to begin; Tories attack PM's 'poor judgement'

Louise Haigh has quit as transport secretary after Sky News revealed she pleaded guilty to an offence connected with incorrectly telling police that a work mobile phone was stolen in 2013. Meanwhile,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Global Hot List: The nine most important elections of 2024

From India, to Mexico, to the UK and the USA, the world's course was charted in the year that saw more than one billion people cast a ballot.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Nigeria: To Achieve Meaningful Change in Nigeria, You Need to Seek Political Power - Osinbajo

[ Fri, Nov 29th 2024 ]: Brian Stokes

Georgia suspends talks on joining the European Union and accuses the bloc of blackmail

Georgia is suspending talks on its bid to join the European Union for four years, its prime minister said Thursday, in view of what he described as "blackmail and manipulation" from some of the bloc's politicians.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Labor can't legislate its way out of this battle with the RBA

There is growing disagreement over when unemployment is inflationary - and the RBA's view helps explain why it is still so bearish on rate cuts.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Louise Haigh's rise from young Labour MP to Transport Secretary

Ms Haigh became the youngest female Cabinet minister to ever be appointed when she was made Transport Secretary earlier this year.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: 'Shocking' net migration figures are so high 'you have to double take', says Starmer

Keir Starmer has vowed to end the Tories' "open borders experiment" after new stats show net migration to the UK fell by 20% in the year to June 2024, but from what was a record high of more than 900,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Deepfake extortion targets Singapore officials, highlighting growing cyber threat

[ Fri, Nov 29th 2024 ]: Brian Stokes

Social media ban, migration laws and RBA overhaul headline Federal Parliament's chaotic media week

EXPLAINER: After months of deadlock and dispute, Federal Parliament burst to life to pass an extraordinary 45 bills before MPs headed home for the long summer break.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Birmingham was a failed moderate who leaves a legacy of rolling over and letting the right win

Liberal Senator Simon Birmingham was a leading moderate, or so we were repeatedly told. But what does he have to show for it?

[ Fri, Nov 29th 2024 ]: Brian Stokes

High-ranking military official in China suspended and placed under investigation

A member of China's powerful Central Military Commission has been suspended and put under investigation, the country's Defense Ministry said Thursday. Miao Hua was director of the political work department on the commission,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: Top Tory says it's a 'day of shame' for his party - as PM condemns 'shocking' migration figures

Keir Starmer has vowed to end the Tories' "open borders experiment" after new stats show net migration to the UK fell by 20% in the year to June 2024, but from what was a record high of more than 900,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Adam Gopnik's "Going There With Donald Trump" Eight and a Half Years Later

The idea that it can be bounded in by honest conservatives in a Cabinet or restrained by normal constitutional limits is unsupported by history. — Adam

[ Fri, Nov 29th 2024 ]: Brian Stokes

Trudeau Liberals' two-month GST holiday bill passes the House, off to the Senate

The federal government's five-page piece of legislation to enact Prime Minister Justin Trudeau's promised two-month tax break on a range of consumer goods over the holidays passed in the House of Commons late Thursday.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Starmer: 'the previous government were running an open borders experiment'

The ONS have revealed that nearly one million people arrived in the UK in the year ending June 2023, as the PM cited the Conservative Party's 'Global Britain' slogan.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Death threats in Marcos-Duterte feud highlight the Philippines' problem with political violence

Family dynasties have a stranglehold on Filipino politics — and this week was a reminder that some dynasties at the top are militaristic and fond of violence.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Anthony Albanese gets down and dirty in deal making and breaking as Senate rushes to Christmas finish

The prime minister personally intervened in the wrangling and deal-making as the government battled to get as much as possible of Labor's legislation passed in the chaotic dying days of 2024's parliamentary sitting.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Miners rejoice as Albanese shelves environment watchdog

But the onset of early season bushfires heralds a heated debate over summer about the future of the government's election commitment.

[ Fri, Nov 29th 2024 ]: Brian Stokes

French government crisis: Mobilize the working class to bring down Barnier and Macron!

The struggle against Macron cannot be left to parliamentary maneuvers by the neo-fascist Le Pen and Jean-Luc Mélenchon, whose New Popular Front enabled the forming of the government.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Election 2024 Day 21: one last push from major parties deadlocked as nation goes to the polls on Friday

With less than 24 hours to go until the country heads to the polls, it's a short but hard fought campaign as parties and Independents attempt to fill as many of the 174 Dáil seats as possible.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Ready for an election, Albanese unveils his new catchphrase

After driving 45 pieces of legislation through parliament in a week, the prime minister has signalled his election campaign strategy.

[ Fri, Nov 29th 2024 ]: Brian Stokes

France's bond yields rise above Greece's for first time amid political instability in Paris

Borrowing costs for France have hit a 12-year high relative to Germany, and were more than those of Greece for the first time ever

[ Fri, Nov 29th 2024 ]: Brian Stokes

Nelson Mayor Nick Smith on why he suggested Lindsay McKenzie as Wellington City Council's Crown observer- On the Tiles

When the Government announced a Crown observer was being appointed at Wellington City Council, former Cabinet minister and current Mayor of Nelson Nick Smith knew just the man for the job. Smith wrote to Local Government Minister Simeon Brown and recommended Lindsay McKenzie,

[ Fri, Nov 29th 2024 ]: Brian Stokes

Death threats and division: A political feud takes a dramatic turn

Behind all this drama is a once powerful political alliance which has spectacularly unravelled. The decision by the Marcos and Duterte clans to join forces in the 2022 presidential election was a marriage of convenience.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Jharkhand gov to take legal action for Rs 1.36 trillion coal dues: CM Soren

Soon after taking oath as the chief minister of Jharkhand, Hemant Soren announced that his government would take legal action to realise its Rs 1.36 lakh-crore coal dues from the Centre.

[ Fri, Nov 29th 2024 ]: Brian Stokes

Chinese journalist and former Harvard fellow sentenced to 7 years

[ Fri, Nov 29th 2024 ]: Brian Stokes

Politics latest: Starmer holding news conference as deal announced with Iraq to tackle small boat crossings

Prime Minister Sir Keir Starmer is holding a Downing Street news conference after new stats show net migration to the UK fell by 20% in the year to June 2024, but from what was a record high of more than 900,
Thu, November 28, 2024

[ Thu, Nov 28th 2024 ]: Brian Stokes

Government "R&D Special Zone Natural Green Area Ratio Raised to 200%"

[ Thu, Nov 28th 2024 ]: Brian Stokes

Politics live updates: ANZ bank pushes interest rate cut back until May 2025

One of Australia's big four banks has sent a chilling message to borrowers, making a big call on rates before Christmas.

[ Thu, Nov 28th 2024 ]: Brian Stokes

Liberia: Former Warlord and Politician Prince Johnson Dies At 72

[ Thu, Nov 28th 2024 ]: Brian Stokes

The general election campaign is over and it's time to face the music

The first indication of the success or otherwise of each party's campaign will come at 10pm today, when an exit poll result is announced

[ Thu, Nov 28th 2024 ]: Brian Stokes

After a blur of bills, Albanese and Dutton must sharpen their focus for the fight ahead

The frantic passage of 31 bills in a day has a real downside as the changes will be a blur to many voters. In fact, they were blur to some in parliament.

[ Thu, Nov 28th 2024 ]: Brian Stokes

SWAPO's drop in polls - could this be a death knell to struggle politics?

[ Thu, Nov 28th 2024 ]: Brian Stokes

Fubler welcomes new role in Government

Mischa Fubler was sworn in as a Junior Minister of the Cabinet Office and the Ministry of Public Works at Government House this afternoon. The Progressive Labour Party election candidate, who was

Lower interest rates, richer households: Just add a dash of competition

The nation's treasurers have signed up to a decade-long program that promises lower inflation, a cut in interest rates and richer households.

The article from The Sydney Morning Herald discusses the economic implications of lower interest rates in Australia, particularly focusing on how these rates benefit richer households more than others. It highlights that while lower interest rates are intended to stimulate economic activity, they disproportionately advantage those with significant assets, like property, as their borrowing costs decrease, thereby increasing their disposable income. The piece also touches on the lack of competition in the banking sector, which has been criticized for not passing on the full benefits of rate cuts to consumers. This situation exacerbates wealth inequality, as wealthier individuals can leverage lower rates to invest further, while those with less wealth see minimal benefits. The article suggests that increasing competition among banks could help distribute the benefits of lower rates more equitably across different income groups. Additionally, it mentions the government's and the Reserve Bank of Australia's (RBA) ongoing efforts to address these disparities through policy measures and potential reforms in the financial sector.

Read the Full Sydney Morning Herald Article at https://www.smh.com.au/politics/federal/lower-interest-rates-richer-households-just-add-a-dash-of-competition-20241129-p5kukt.html