Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Sinn Fein claims first win – what will change in Northern Ireland?

Published

on

The former political win of Ireland’s IRA has secured its first election win in Northern Ireland’s history, securing 27 of the region’s 90 Assembly seats

Known as Sinn Fein, the party’s representative says the vote represents a significant moment of change for the territory.

Sinn Fein, the former political wing of the Irish Republican Army (IRA), hailed its first election win in Northern Ireland’s history on Saturday as a “defining moment” for the British-controlled region – ending a century of domination by pro-British parties.

“Today represents a very significant moment of change. It’s a defining moment for our politics and for our people.”

Sinn Fein Vice President Michelle O’Neill.

Sinn Fein was ahead of the pro-British Democratic Unionist Party by 27 to 24 seats with two left to declare, making it the first Irish nationalist party to secure control of the assembly.

O’Neill said there should now be an “honest debate” around the party’s goal of unification with the Republic of Ireland.

“Let’s have a healthy debate about what our future looks like, something that’s better for each and every one of us, where we all have a valued place in our society.”

Party leader Mary Lou McDonald said she expects O’Neill to be appointed First Minister.

“This is a time for grown-up, sensible, partnership politics. That’s what people want and we look forward to an executive being established. I look forward to Michelle O’Neill being nominated as First Minister to lead from the front.”

While the largest party has the right to put forward a candidate for First Minister of the region’s compulsory power-sharing government, disagreements with the DUP mean such an appointment could be months away.

The Sinn Fein victory will not change the region’s status, as the referendum required to leave the United Kingdom is at the discretion of the British government and likely years away.

The party was long shunned by the political establishment on both sides of the Irish border for its links to IRA violence during three decades of fighting over Northern Ireland’s place within the UK.

Since a 1998 peace deal, it has reinvented itself to become the most popular party in the Republic of Ireland where it has carved out a successful base by campaigning on everyday issues such as the cost of living and healthcare.

Continue Reading

News

Dollar steady as markets await Fed’s rate decision

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

Published

on

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

video
play-sharp-fill
In Short:
– The U.S. dollar stayed stable as investors await the Federal Reserve’s interest rate cut announcement.
– Asian equities rose, with the MSCI Asia Pacific Index hitting a record high amid U.S. market gains.
The U.S. dollar remained stable on Monday as investors await the Federal Reserve’s upcoming policy meeting, where the central bank is expected to announce its first interest rate cut in nine months.
Trading volumes were low due to a holiday in Japan, causing currencies to remain rangebound.Banner

Market participants have largely priced in a 25 basis point reduction in the federal funds rate, anticipated to bring the key rate to between 4.00%-4.25%.

This marks the first easing action since December 2024.

Recent economic data indicates a cooling labour market, with jobless claims rising to the highest levels since 2021, overshadowing inflation concerns.

Market Movements

Asian equities experienced gains, continuing a global rally, with the MSCI Asia Pacific Index reaching a record high.

Chinese shares rose close to 1% despite disappointing factory and retail sales data.

This momentum follows historical closes in U.S. markets, with the Dow Jones Industrial Average surpassing 46,000.


Download the Ticker app

Continue Reading

News

ANZ to pay $160 million for bond deal violations

ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny

Published

on

ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny

video
play-sharp-fill
In Short:
– ANZ Group will pay A$240 million in penalties for multiple violations, including fees to deceased customers.
– The bank plans to implement A$150 million in reforms and has announced 3,500 job cuts.
Australia’s ANZ Group will pay A$240 million in penalties, the largest ever imposed by the Australian Securities and Investments Commission (ASIC) against a single entity.
The penalties arise from multiple violations, including acting “unconscionably” during a government bond deal and continuing to charge fees to deceased customers.
The development comes alongside ANZ’s announcement of 3,500 job cuts as new CEO Nuno Matos seeks to enhance profitability.Banner

ANZ has admitted to the allegations and acknowledged the need for significant operational changes.

The bank’s trading practices during an A$14 billion government bond issuance negatively impacted bond prices, which led to a substantial loss for the government.

ANZ plans to submit a remediation strategy to the Australian Prudential Regulation Authority by the end of the month.

Company Changes

ANZ has stated it will spend A$150 million on reforms by the end of the financial year.

The Finance Sector Union is expected to file a claim regarding the recent job cuts made by the bank.


Download the Ticker app

Continue Reading

News

Climate report warns of rising heat deaths and property losses

Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action

Published

on

Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action

video
play-sharp-fill
In Short:
– Climate change could cause hundreds of deaths and $500 billion decline in property values in Australia.
– Increased extreme weather events may lead to rising insurance costs and potential uninsurability of homes.
A government report warns that climate change could lead to significant challenges for Australia, with hundreds of deaths expected from heat-related illnesses.
Property values may decline by up to $500 billion as homes risk becoming uninsurable due to extreme weather events.
The assessment by the Albanese Government forecasts increased frequency of floods, cyclones, and bushfires.The report anticipates over a thousand potential heat-related fatalities in Sydney and Melbourne if action is not taken.

The projected increase in heat-related deaths in Australia’s capital cities, as outlined in the report. Picture: Climate Risk Assessment

Rising sea levels and extreme weather are expected to escalate insurance costs, making coverage unaffordable or unavailable.

Climate Change and Energy Minister Chris Bowen acknowledged that many Australians will find these projections distressing, but they underscore the urgency of addressing climate change.

Banner

Changes in total annual freight costs by Local Government Area in a 2090 scenario, compared to 2024. Picture: Australia’s National Climate Risk Assessment

Property Risks

Projected increases in heat-related deaths are particularly concerning. For instance, at a 1.5-degree rise in temperatures, heat-related mortality in Sydney could increase by 103%, reaching about 450 deaths annually at a 3-degree rise.

Coastal flooding days are expected to increase significantly in major urban areas, necessitating critical intervention.


Download the Ticker app

Continue Reading

Trending Now