In an Australian first, manufacturer SPC will mandate that all of its staff must be fully vaccinated by the end of November to enter any location
It’s a leaf out of the U.S book, following big tech companies allowing only vaccinated employees into US Offices.
Alphabet Inc.’s Google and Facebook Inc. said on Wednesday all U.S. employees must get vaccinated to step into offices. Google is also planning to expand its vaccination drive to other countries in the coming months
How will SPC vaccinate staff before year-end?
It may seem to be a common trend in the U.S. but this is a first for Australia.
SPC is a leading producer of premium packaged fruit in Australia.
SPC’s said the company recognises the significant threat the COVID-19 Delta variant poses to both the business and the broader Australian community.
“A fully vaccinated workforce will ensure that SPC can continue to deliver an essential service while helping Australia return to an open economy in line with the Prime Minister’s four-point plan out of COVID,” Australia’s #1 producer of premium packaged fruit said in a statement on Thursday.
All SPC staff, including casual and permanent staff as well as contractors, must have at least the first dose of the vaccine scheduled by September 15 2021, with the first dose administered by the end of October.
Any visitors to an SPC site will also be required to be vaccinated.
SPC Chairman, Hussein Rifai, said lockdowns are not a sustainable solution and the Australian economy needs to open up again.
“The Delta variant poses a significant threat to our people, our customers and the communities we serve. The only path forward for our country is through vaccination,
RIFAI SAID.
Bold new plans to get Aussies vaccinated by Christmas
Australia’s vaccination rollout coordinator has unveiled a bold new strategy that would see 80 per cent of the country’s residents fully vaccinated against Covid-19 by December.
The latest statistics show that 80 per cent of the eligible population could receive both doses by the year’s end, with 70 per cent protected by November.
It comes as the Federal government calls for an elevated level of collaboration and cooperation across the country to increase the speed of the rollout.
Sydney is currently in its sixth week of strict stay-at-home orders – with the state’s premier previously flagging that vaccines may be the only option to bring the Delta variant under control.
It follows the national cabinet meeting to endorse a plan that would see Australia begin to move into a pandemic “consolidation” phase following 80 per cent of the eligible population being vaccinated.
Should companies be mandating vaccines?
“As a Company, we believe it is the right thing to do and we must go further to minimise risk and to protect the people we care about from the Delta variant,” said Rifai.
SPC CEO, Robert Giles, said Australian companies must go further by rapidly vaccinating their staff.
“By taking proactive steps now, we are shoring up our Company for the future. We firmly believe that it will be manufacturers and innovators like SPC who will help drive Australia’s post-COVID economic recovery,” Giles said.
All staff will be aided and offered compensation via paid time off when required to receive their vaccinations as well as special paid leave of up to 2 days for any staff who may become unwell after vaccination.
For those with a pre-existing condition and are unable to receive the vaccine their circumstances will be considered on a case by case basis.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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