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High noon for big tech in Washington? | Ticker VIEWS

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While everyone was focusing on the bipartisan deal between President Biden and a group of moderate senators last week, another drama was unfolding on Capitol Hill

Officials in the House Judiciary Committee were working on the most significant move to bring antitrust laws to bear on the most powerful companies in America (and the world) since Microsoft was the target of a move to break its business model 23 years ago.

As the Big Tech companies continue to grow, they face increasing scrutiny over how they operate and whether competition is limited as a result.

Facebook, Google and Amazon in particular have been growing and extending their power and scale. This has lead to questions as to whether these companies are abusing consumers’ rights.

This is one issue that has strong bipartisan support

It has support from Republicans, because Big Tech is seen as pro-left; cancelling out the voices of President Trump and other conservatives. And from Democrats, who fear Big Tech’s rampant concentration of power.

Since President Teddy Roosevelt’s extraordinarily successful crusades a century ago, a fundamental tenet of governance in a democracy is that no company or business interest is more powerful than the rule of law. That authorities can regulate corporate power to serve the public interest.

In US telecoms and tech, AT&T and Microsoft succumbed to this imperative of how capitalism must operate.

The US House Judiciary Committee.

It is this bipartisan cooperation that opened the door to aggressive enforcement activity in Washington

Under the Trump administration, the Justice Department and Federal Trade Commission filed landmark antitrust lawsuits against Google and Facebook.

40 US states have filed similar litigation.  The intent is consistent: break up their business models, introduce more competition, and establish rules to protect consumers.

The House Judiciary Committee last week approved five bills that would prevent Big tech mergers that could eliminate competitors. The Committee passed these bills with bipartisan support.

These bills will be difficult to enact into law, and Republicans in Congress remain divided

Trump supporters do not believe they do anything to stop Big Tech from closing down conservative media platforms. The concern comes after Twitter and Facebook both recently decided to turn off Trump. 

And if these bills do pass the House, successful Senate legislation requires a supermajority (60 votes out of 100 Senators) to pass.

What is most significant, however, is that the action sends a powerful signal that these issues are absolutely legitimate

This will strengthen the hand of both the Federal Commission, now under the new leadership of Lina Khan. It will also allow the Justice Department to litigate antitrust actions, bringing competition and consumer laws to these powerful commercial entities.  

Th Big Tech lobbyists can slow down how far Congress will go.  But not the landmark lawsuits managed by President Biden’s Executive Branch.

Read more by Bruce Wolpe here

Bruce Wolpe is a Ticker News US political contributor. He’s a Senior Fellow at the US Studies Centre and has worked with Democrats in Congress during President Barack Obama's first term, and on the staff of Prime Minister Julia Gillard. He has also served as the former PM's chief of staff.

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ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

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ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.


ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

#ANZ #Banking #Jobs #Unions #Australia #Economy #TickerNews


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1 in 8 households don’t have the money to buy enough food

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Katherine Kent, University of Wollongong

Around one in eight (1.3 million) Australian households experienced food insecurity in 2023. This means they didn’t always have enough money to buy the amount or quality of food they needed for an active and healthy life.

The data, released on Friday by the Australian Bureau of Statistics (ABS), show food insecurity is now a mainstream public health and equity challenge.

When funds are tight, food budgets suffer

The main driver of food insecurity in Australia is financial pressure.

Housing costs and energy bills expenses consume much of household income, leaving food as the most flexible part of the budget.

When money runs short, families cut back on groceries, buy cheaper but less nutritious food, skip meals, or rely on food charities.

These strategies come at the expense of nutrition, health and wellbeing.

Inflation has added further pressure. The cost of food has risen substantially over the past two years, with groceries for a family of four costing around $1,000 per fortnight.

Who is most affected?

Not all households are affected equally. Single parents face the highest rates of food insecurity, with one in three (34%) struggling to afford enough food.

Families with children are more vulnerable (16%) than those without (8%).

Group households, often made up of students or young workers, are also heavily affected at 28%.

Rates are even higher for Aboriginal and Torres Strait Islander households, where 41% report food insecurity.

Income remains a defining factor. Nearly one in four (23.2% of) households in the lowest income bracket experience food insecurity, compared with just 3.6% in the highest.

These headline numbers are only part of the story. Past research shows higher risks of food insecurity for some other groups:

While the ABS survey can not provide local breakdowns, it will also be important to know which states and territories have higher rates of food insecurity, to better inform state-level responses.

What are the impacts?

Food insecurity is both a symptom and a cause of poor health.

It leads to poorer quality diets, as households cut back on fruit, vegetables and protein-rich foods that spoil quickly. Instead, they may rely on processed items that are cheaper, more filling and keep for longer.

The ongoing stress of worrying about not having enough food takes a toll on mental health and increases social isolation.

Together these pressures increase the risk of chronic diseases including diabetes, heart disease and some cancers.

For children, not having enough food affects concentration, learning and long-term development.

Breaking this cycle means recognising that improving health depends on improving food security. Left unaddressed, food insecurity deepens existing inequalities across generations.

What can we do about it?

We already know the solutions to food insecurity and they are evidence-based.

Strengthening income support by increasing the amount of JobSeeker and other government payments is crucial. This would ensure households have enough money to cover food alongside other essentials.

Investment in universal school meals, such as free lunch programs, can guarantee children at least one nutritious meal a day.

Policies that make healthy food more affordable and available in disadvantaged areas are also important, whether through subsidies, price regulation, or support for local retailers.

Community-based approaches, such as food co-operatives where members share bulk-buying power and social supermarkets that sell donated or surplus food at low cost can help people buy cheaper food. However, they cannot be a substitute for systemic reform.

Finally, ongoing monitoring of food insecurity must be embedded in national health and social policy frameworks so we can track progress over time. The last ABS data on food insecurity was collected ten years ago, and we cannot wait another decade to understand how Australians are faring.

The National Food Security Strategy is being developed by the Department of Agriculture, Fisheries and Forestry with guidance from a new National Food Council. It provides an opportunity to align these actions, set measurable targets and ensure food security is addressed at a national scale.

Food insecurity is widespread and shaped by disadvantage, with serious health consequences. The question is no longer whether food insecurity exists, but whether Australia will act on the solutions.The Conversation

Katherine Kent, Senior Lecturer in Nutrition and Dietetics, University of Wollongong

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Inflation data impacts markets as stocks reach highs

Inflation data and tariff uncertainty loom as U.S. stocks near record highs ahead of potential Federal Reserve rate cuts

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Inflation data and tariff uncertainty loom as U.S. stocks near record highs ahead of potential Federal Reserve rate cuts

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In Short:
– U.S. stock investors face crucial inflation data amidst concerns over tariffs and bond yields.
– The Federal Reserve is expected to lower interest rates following weaker job growth and trade uncertainties.
U.S. stock investors are facing a week filled with critical inflation data.
Uncertainty over tariffs and government bond yields complicates the market landscape. Despite a record high for the S&P 500 index, the recent monthly employment report revealed weaker job growth in August, prompting concerns.Banner

Investor focus turns to the upcoming U.S. consumer price index data, with implications for potential interest rate cuts.

The Federal Reserve is widely expected to reduce rates at its upcoming meeting.

Market Risks

Concerns linger around tariffs, especially after a court ruling deemed many of President Trump’s tariffs illegal.

This has muddied the decision-making for corporations and investors. Higher long-dated U.S. government debt yields, which reached 5% for the first time in over a month, have also contributed to stock market challenges.

Despite a substantial 10% rise in the S&P 500 this year, traders remain cautious as economic releases could disrupt elevated stock valuations amidst ongoing trade uncertainties.


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