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Facebook and Google could soon pay for news in New Zealand

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New Zealand officials are seeking to pull digital media providers into line when it comes to paying for news

Digital companies like Google and Meta could begin paying media companies in New Zealand under a new scheme designed to protect local content publishers.

Lawmakers in Wellington will vote on the bill, where Prime Minister Jacinda Ardern’s Government is expected to pass it.

Willie Jackson is the Minister of Broadcasting, who said news outlets will benefit from deals reached with digital platforms.

“New Zealand news media, particularly small regional and community newspapers, are struggling to remain financially viable as more advertising moves online.”

The legislation is based on similar laws already passed in Canada and Australia.

“It is critical that those benefiting from their news content actually pay for it,” Mr Jackson said.

The Australian Government introduced the News Media Bargaining Code in 2021, which has led to 30 deals between media outlets and tech firms.

It allows lawmakers to step in when tech companies are negotiating content deals with local media outlets.

The Treasury Department recently found the “agreements have enabled news businesses to, in particular, employ additional journalists and make other valuable investments to assist their operations.”

The agreements are based on how often content is clicked, which ultimately leads to advertising revenue.

Google has cemented agreements with Nine Entertainment and Seven West Media, which are scheduled to run for five years.

Meanwhile, Meta has reportedly reached commercial agreements with 13 news businesses.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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France receives lowest credit rating due to crisis

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

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France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

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In Short:
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.
Fitch Ratings has downgraded France’s credit rating from AA- to A+, the lowest ever recorded, amid ongoing political and fiscal challenges.
The decision comes shortly after Prime Minister François Bayrou was removed in a vote of no confidence regarding his €44 billion austerity plan.
President Emmanuel Macron has appointed Sébastien Lecornu as the new prime minister, marking the fifth leadership change in under two years.Banner

Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.

The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.

Political Instability

The new prime minister faces a divided parliament and must secure budget approval by October 7.

The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.


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Trump moves to fast-track removal of Fed governor Lisa Cook

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The White House is set to fast-track a ruling on firing Federal Reserve Governor Lisa Cook, just days before the crucial FOMC meeting.

The move comes as markets reel from surging inflation, weak jobless data, and global currency shifts, raising questions about the Fed’s independence and the stability of policy decisions.

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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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