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Australia’s interest rates to remain at record-low

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Australia’s official interest rate will remain on hold at the historic low level of 0.10 percent

The country’s top economists of the Reserve Bank of Australia met this afternoon, deciding to hold rates steady for the month of July.

The Australian central bank slashed interest rates to 0.10 percent in November 2020 as a way of easing the potential economic pain brought on by the coronavirus pandemic.

In February 2020, Australia’s official cash rate was sitting at 0.75 percent

According to the Australian Bureau of Statistics, Australia’s economy is officially above pre-pandemic levels.

It comes as surging levels of construction and business investment lift the nation’s bottom line.

Over the past 12 months, Australia’s economic activity has recovered to be above pre-pandemic levels and has grown 1.1 percent.

The nation’s unemployment is at just 5.1 percent and job advertisements are growing.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Germany recalls Tesla models due to emergency fault

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Tesla is in the spotlight again, with Germany’s road traffic agency recalling models Y and 3 due to a fault in the automatic emergency call system

It’s a fault that could possibly impact around 59,000 vehicles globally.

Germany’s watchdog says a software flaw is causing a breakdown of the e-Call, a system designed to alert authorities after a serious accident.

The glitch follows the company delivered almost 18 per cent fewer electric vehicles in the second quarter than in the previous.

This is largely due to China’s Covid-19-related shutdowns and the ongoing supply chain crunch.

Meanwhile, CEO Elon Musk says Tesla’s new factories in both Texas and Berlin are “losing billions of dollars”.

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World’s first city to charge tourists for visiting

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If you’re lucky to be heading abroad this summer, a visit to the famous canals in Venice, Italy might be on your itinerary, but beware of new fees to come.

Venice will charge most of its visitors an entry fee from next year as it tries to tackle overcrowding.

The city’s tourism chief says Venice are pioneers and will be the first city in the world to apply a measure that could be revolutionary.

From mid January next year, day-trippers must book their visit online before travelling.

They will pay a basic fee of 3 euro, which will rise to 10 euro at peak times.

Tourism is bouncing back in Venice after the pandemic with daily visitors again often outnumbering the 50-thousand residents of the city centre.

The scheme will be closely watched by other popular tourist destinations, overwhelmed with travellers around the world.

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Pubs in UK declining by thousands, new research

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It’s no secret Brit’s love their Pub Grub, but plating up Bangers and Mash is a tradition on the decline

The number of pubs in England and Wales is continuing to fall, hitting its lowest level on record this year

After struggling through Covid the industry now faced soaring prices and higher energy costs, it warned.

There were just under 40-thousand pubs in June, down by 7,000 in the past decade, according to new research.

In fact, thousands of pubs have closed as younger people drink less, supermarkets sell cheaper alcohol and the industry complains of being too heavily taxed.

Pubs which had “disappeared” from the communities they once served had either been demolished or converted for other purposes, meaning that they were “lost forever”.

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