Friday, June 14, 2019

Adani approval against backdrop of growing concerns about coal exposure

The approval of the Adani mine comes as Norway's sovereign wealth fund receives approval to dump billions of dollars of stocks linked to fossil fuels. 

ABC's Peter Ryan says Adani has been forced to self-fund the project after banks in Australia and China declined to bankroll it.

Thursday, June 13, 2019

Unemployment remains steady at 5.2pc despite an extra 42,300 jobs

Australia's unemployment rate remained stuck at 5.2 per cent last month, despite the creation of 42,300 jobs in May. 

The Bureau of Statistics figures show part-time employment increased by 39,800, while full-time employment only rose by 2,400. 

However, ABC's Peter Ryan says the jobs creation won't be enough to stop the Reserve Bank from cutting interest rates further this year.

Wednesday, June 12, 2019

Netflix the new barbeque stopper with streaming services on track to dominate

A report from the advisory firm PriceWaterhouseCoopers says video streaming services like Netflix and Stan are on track to outstrip free-to-air television and subscriptions to News Corporation's Foxtel. 

Increasingly popular streaming services are tipped to grow by 13.7 percent between 2019 and 2023 with subscription services like Foxtel falling 2.9 percent in the same period as the market continues to fragment. 

Read the report here

Report author and PWC partner Justin Papps speaks with ABC's Peter Ryan.

Tuesday, June 11, 2019

Retail sector "clearly in recession" as economy slows: NAB survey

Australia's private sector is losing momentum, with business conditions "well below average" and weakening further, according to the National Australia Bank's monthly business survey. 

Chief economist Alan Oster tells ABC's Peter Ryan the retail sector is "clearly in recession".

Friday, June 7, 2019

ABC chair Ita Buttrose condemns AFP raid, vows to fight attempts to 'muzzle' broadcaster

ABC chair Ita Buttrose has "grave concern" about this week's Australian Federal Police (AFP) raid at the national broadcaster, which she says were "clearly designed to intimidate". 

The Afghan Files stories, by ABC investigative journalists Dan Oakes and Sam Clark, revealed allegations of unlawful killings and misconduct by Australian special forces in Afghanistan and were based off hundreds of pages of secret Defence documents leaked to the ABC.

Here's my report from The World Today

AFP raids on ABC damage Australia's reputation, warns business lobby chief Innes Willox

Business is becoming increasingly concerned that this week's federal police raids on the ABC and News Corporation risks eroding confidence in Australia's reputation as a free and open democracy. 

Innes Willox - a former political advisor, diplomat and now chief executive of the Australian Industry Group - worries about the perceived politicisation of supposedly independent government departments and agencies. 

Mr Willox speaks with ABC's Peter Ryan.