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Qantas takes big step towards sustainable future

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Australian airline Qantas is ramping up its efforts to be better on the environment

Passengers on Qantas flights will start to notice some big changes over the next couple of years.

The Australian national carrier has announced its officially quitting plastic packaging and utensils altogether.

Knives, forks, bags, wrapping, and cups are among the type of things no longer to be found on flights by 2027.

A look at Qantas’s new targets:

  • Sustainable Aviation Fuel (SAF)  10 per cent use of SAF in the Group’s fuel mix by 2030, and approximately 60 per cent by 2050.
  • Waste reduction – Zero single-use plastics by 2027 and zero general waste (excluding quarantine waste) to landfill by 2030.
  • Fuel efficiency – Increase fuel efficiency by an average of 1.5 per cent per year to 2030. Achieved through updating our aircraft fleet and using more efficient flight planning, while continuing research into next generation technologies, including hydrogen and battery power.
  • Offsets – continue to build our offsetting program particularly into key Australian projects
QANTAS ZEROS IN ON EMISSIONS WITH INTERIM TARGET

Leading the biofuels industry:

Qantas says that sustainable aviation fuel (SAF) is critical to the decarbonisation of the industry. The carrier is setting a target of 10 per cent SAF in fuel uptake by 2030, and approximately 60 per cent by 2050.

Qantas has already started flying with SAF sourced from overseas, with 15 per cent of fuel used out of London comprised of SAF since the beginning of 2022. A second major supply deal has been signed for almost 20 million litres a year of blended SAF out of Californian airports from 2025, with options to increase amounts as production increases. Negotiation on other offshore supply agreements are underway.

SAF is produced from certified bio feedstock, including used cooking oil, sugar cane, forestry residues, animal tallow and other waste products. It is blended with normal jet fuel and produces up to 80 per cent less emissions on a life cycle basis when compared with traditional jet kerosene.

The airline will also tie its climate change goals to the pay packets of its management team from July.

It is also aiming for zero landfill waste by 2030.

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Money

Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

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Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

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#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

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Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

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Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

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Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

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U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

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#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

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