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Health concerns for Queen after new announcement

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Queen Elizabeth has pulled out of the 2022 State Opening of Parliament, citing mobility problems

It’s the first time since 1963 the monarch will miss the occasion, which is a commemorative day used to set out the government’s legislative plans for the year ahead.

Prince Charles is set to take his mother’s place, and will deliver a speech on Tuesday for the Queen.

Buckingham Palace had been hopeful Elizabeth would attend, with this cancellation the latest in a number of other events she has had to step back from due to health issues recently.

In a statement, the palace says the Queen has reluctantly decided not to attend the State Opening after extensive consultation with her doctors.

During her 70 years on the throne, Elizabeth has only missed two State Openings, when she was pregnant in both 1959 and 1963.

While the Lord Chancellor stepped in on those occasions, this year it will be the Prince of Wales.

At the event, the Queen’s throne will remain empty with with Charles, Camilla and Prince William seated in front of the parliamentarians.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Tech giants face new Australian news payment policy

ByteDance joins Meta, Google in Australia’s new news payment policy; potential charges for social media platforms begin January 1.

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TikTok’s parent company ByteDance will join Meta and Alphabet in paying new levies for Australian news unless they reach agreements with publishers.

Apple and Microsoft may also be affected if their revenues in Australia exceed $250 million annually.

Labor’s policy seeks to compel Meta to negotiate after it previously refused to pay for news.

Under the proposed legislation, the Australian Taxation Office will impose an annual levy on social media and search companies, exceeding the current news media bargaining code’s value of about $200 million annually.

Companies that negotiate payments to news publishers can offset these payments against their levy.

For example, if a platform faces an $11 million levy with a 10% uplift, it must secure at least $10 million in deals to avoid paying the ATO.

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Any shortfall between deals and the annual charge will be collected by the ATO and distributed to publishers.

Final policy details will emerge after consultations early next year.

The law takes effect on January 1, emphasizing quick negotiations with tech companies.

Assistant Treasurer Stephen Jones clarified that the policy aims to facilitate negotiations, not increase government revenue, stating that digital platforms benefit financially from Australia and should support quality journalism.

Labor’s decision follows Meta’s refusal to renegotiate under the existing bargaining code, which could lead to significant job losses in journalism.

The Labor-controlled committee has deemed the current code “broken” and called for an alternative.

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Australia’s unemployment rate drops, impacting interest rates

Australia’s unemployment hits 3.9%, challenging rate cut prospects; strong jobs growth influences RBA’s inflation outlook and future rate decisions.

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Australia’s unemployment rate fell to 3.9% last month, highlighting a robust job market and influencing interest rate forecasts.

The Australian Bureau of Statistics reported an increase of 35,600 jobs, marking the unemployment rate’s first decline below 4% since March.

Economists attribute this growth primarily to expansion in public service and government-funded roles in healthcare and education.

Source: AFR/ABS

Following the job report, Australian shares lost momentum while the local dollar rose by 0.7%, reflecting positive market reactions.

Despite the strong job numbers, Reserve Bank of Australia Governor Michele Bullock indicated a potential cash rate cut from 4.35% as early as February, suggesting confidence in returning inflation to the target range.

New expectations

This shift in the RBA’s stance revives expectations for a pre-election rate cut by the Albanese government, which had seemed unlikely amid solid job data.

NAB’s head of market economics, Tapas Strickland, noted that the employment figures may challenge the RBA’s confidence in its inflation projections.

The current unemployment rate averages 4% this December quarter, below the RBA’s prediction of 4.3%.

Betashares chief economist David Bassanese suggested that the strong employment report diminishes chances for a February rate cut, with May seen as a more likely time for adjustment post-election.

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Support for accused murderer Luigi Mangione grows online

Support for accused murderer Luigi Mangione surges amid outrage over US healthcare, raising $31,000 for his legal defense.

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In the aftermath of Luigi Mangione’s murder charge for killing UnitedHealthcare CEO Brian Thompson, a significant online fundraiser for his legal defense has garnered over a thousand donations.

The contributions come with messages that support Mangione and, in some cases, celebrate the act itself.

In New York, “Wanted” posters featuring CEOs have surfaced, and merchandise like “CEO Hunter” hats has appeared online.

Some social media users have expressed admiration for Mangione, highlighting his appearance.

Mangione is accused of shooting Thompson on December 4 outside a Manhattan hotel during an industry conference, which triggered a five-day manhunt.

Online support

While the crime has drawn widespread condemnation, the 26-year-old has gained a controversial following as a sort of folk hero in certain online communities. This support has grown since his arrest.

The messages on the crowdfunding site GiveSendGo reveal a shared frustration with the U.S. healthcare system and rising income inequality.

Some donors have argued that denying healthcare coverage can be seen as a lethal offense. More than $31,000 has been raised on the platform.

Former NYPD detective Felipe Rodriguez expressed concern over Mangione’s martyrdom status among some supporters, asserting that the reality of the crime should not be overlooked. Currently, Mangione faces extradition to New York as police link him to the murder through recovered evidence.

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