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Sydney behind the gates as Melbourne and Adelaide exit lockdown

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As Sydney continues to battle high Covid-19 case numbers, Melbourne and Adelaide will come out of lockdown from 11:59pm local time tonight

From 11.59pm tonight, Victorians will be able to leave their homes for any reason. Restaurants and cafes can also reopen for seated service. Retail and beauty and personal care will open in line with density limits, as will entertainment venues and community facilities.

Melbourne to lift lockdown restrictions

Premier Daniel Andrews has announced the “cautious” easing of restrictions, in place to limit social interaction while allowing business to reopen.

It follows Melbourne and the state of Victoria recording 10 new Covid-19 infections today, which were all linked to current outbreaks and all quarantining whilst infectious. 

What changes for Victoria?

This news will be a welcome relief for businesses who have been severely impacted by this fifth lockdown.

“To every Victorian who checked in with our QR system, who got tested and quarantined, and stayed home to slow the spread of this virus, thank you – it’s because of you we’ve able to get on top of this Delta outbreak and open up our state”

Premier Daniel Andrews

The conservative easing of regulations will see hospitality and retail reopen, with strict density limits, but masks will still be required both indoors and outdoors and visitors at home will remain banned. 

Public gatherings will be allowed with up to 10 people, with infants under 12 months not included in the cap.

“Today is welcome news but with thousands of Victorians in quarantine, we need to remain vigilant to keep each other safe – so please check in everywhere, every time, wear a mask and get vaccinated as soon as you’re eligible.

Minister for Health Martin Foley

However, due to the significant transmission risk we have seen throughout the pandemic, gatherings in the home are still not permitted. People will only be able to book accommodation with their household, intimate partner or single bubble person.

Live music venues, dance classes and physical recreation facilities, including gyms, will all open with density requirements of 1 person per 4sqm.

“We understand that that will be challenging for people who have not seen family and friends for a couple of weeks now … but we know that this is where transmission occurs.”

Mr Andrews also said there will be no crowds at large gatherings for a few weeks.

“No crowds at large events theatres or those sorts of gatherings for at least two weeks.”

A maximum of 50 people will be permitted at weddings. Funerals will also have a cap of 50 mourners, plus those conducting the funeral.

Health officials say they take “some comfort” in knowing that all cases over the past 48 hours have been in isolation whilst infectious. 

Sydney records highest daily covid-19 numbers

NSW has reported 172 new local coronavirus cases on Tuesday, its highest daily case total since the start of Sydney’s current outbreak, with at least 60 infectious in the community.

“My message to everybody is please come forward and get the vaccine,” the Premier said.

“Not only are you protecting yourself but you’re protecting those closest to you.”

Half of Australia’s population in lockdown until midnight Tuesday

Australia’s second-biggest city plunged into lockdown five two weeks ago after an outbreak of COVID-19.

NSW has now recorded its ninth and 10th deaths related to outbreak.

Meanwhile, South Australia’s lockdown is expected to end at midnight but a range of restrictions will remain in place.

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Money

Fed cuts rates, signals more potentially ahead

Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

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Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

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In Short:
– The Federal Reserve cut interest rates by a quarter-point to address job market concerns.
– Officials expect at least two additional rate cuts by year-end amid ongoing economic uncertainties.
The Federal Reserve has reduced interest rates by a quarter-point, addressing concerns about a weakening job market overshadowing inflation worries.
A majority of officials anticipate at least two additional cuts by year-end during the remaining meetings in October and December.Banner

Fed Chair Jerome Powell noted a significant shift in the labour market, highlighting “downside risk” in his statements.

The recent rate cut, supported by 11 of 12 Fed voters, aims to recalibrate an economy facing uncertainties from policy changes and market pressures.

Policy Dynamics

The decision comes amid intense political scrutiny, with President Trump openly criticising Powell’s reluctance to lower rates.

Despite the controversy, Powell asserts that political pressures do not influence Fed operations.

The current benchmark federal-funds rate now sits between 4% and 4.25%, the lowest since 2021, providing some reprieve to consumers and small businesses. Economic forecasts indicate ongoing complexities, including inflation trends and the impact of tariffs on labour dynamics, complicating future policy decisions.


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Fed faces unusual dissent amid leadership uncertainty

Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

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Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

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In Short:
– This week’s Federal Reserve meeting faces unusual dissent as Chair Powell approaches his term’s end.
– Analysts predict dissent over expected rate cuts due to political pressures from Trump-appointed officials.
This week’s Federal Reserve meeting is set to be particularly unusual, with Chair Jerome Powell facing significant disagreements over future policy as he approaches the end of his term in May.Tensions began before the meeting when Fed governor Lisa Cook won a court ruling allowing her to attend, despite opposition from President Trump, who is attempting to remove her.

The situation is further complicated by the recent swearing-in of Trump adviser Stephen Miran to the Fed’s board, following a Senate confirmation.

Analysts believe Powell may encounter dissent on an expected quarter-percentage-point rate cut from both Trump-appointed officials and regional Fed presidents concerned about inflation.

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Potential Dissent

Trump has urged significant rate cuts and for the board to challenge Powell’s decisions.

Some analysts predict dissenting votes from Miran and other Trump appointees in favour of larger cuts. Federal Reserve veterans express concerns that political motivations may undermine the institution’s integrity, with indications that greater dissent could become commonplace.


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RBA plans to ban credit card surcharges in Australia

Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards

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Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.

In Short:
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.

The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.Banner

The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.

A final decision by the RBA is anticipated by December 2025.


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