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2500 employees to be stood down from Qantas

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About 2500 frontline Qantas and Jetstar employees will be stood down for two months

BREAKING NEWS

It comes as the airline struggles to deal with lockdowns in states across Australia.

The national carrier says the stand-down is a temporary measure to deal with a drop in flying caused by COVID restrictions in Sydney, – which is its home base.

No job losses are expected as part of the move.

QANTAS CEO ALAN JOYCE

In a statement, Qantas CEO Alan Joyce says:

“This is clearly the last thing we want to do, but we’re now faced with an extended period of reduced flying and that means no work for a number of our people.”

“We’ve absorbed a significant amount of cost since these recent lockdowns started and continued paying our people their full rosters despite thousands of cancelled flights.“

Qantas said it welcomed the targeted Federal Government support offered for those stood down outside of declared hotspots and to retain domestic aviation capability.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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