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First Australian company to follow U.S lead on mandating vaccines



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,


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. 

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Moody’s downgrades China credit outlook, cites growth concerns



Moody’s Investors Service has downgraded China’s credit outlook, expressing concerns about the country’s economic growth prospects and the ongoing property market crisis.

The credit rating agency revised its outlook from stable to negative, citing a combination of factors that are putting pressure on China’s economy.

China’s economic growth has been slowing down in recent years, and Moody’s warns that this trend is expected to continue. The country faces challenges such as high debt levels, a rapidly aging population, and a declining labor force. These factors could hamper its ability to sustain robust economic growth in the future.

Additionally, the ongoing property market crisis in China is a major concern for Moody’s. The real estate sector has been a significant driver of the country’s economic growth, but it is currently experiencing a severe downturn with falling property prices and a growing number of unsold homes. This crisis has the potential to further weigh on China’s economic performance.

Moody’s decision to downgrade China’s credit outlook raises questions about the country’s ability to manage its economic challenges effectively. It also underscores the importance of addressing issues in the property market to prevent a broader economic crisis.

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Australia Post to shift to alternate-day mail delivery



In a move aimed at modernising its operations and accommodating the growing e-commerce industry, Australia Post has announced plans to reduce letter deliveries to every second day.

This significant shift is part of a broader strategy to expand its parcel business and adapt to changing consumer preferences.

Australia Post has recognized the declining demand for traditional letter services in an increasingly digital age. With more people communicating electronically and relying on email and messaging apps, the postal service has faced challenges in sustaining daily mail deliveries. By transitioning to alternate-day letter delivery, Australia Post aims to optimize its resources and focus on meeting the surging demand for parcel deliveries, driven by the booming online shopping market.

This strategic shift comes as a response to the changing landscape of postal services worldwide. Many postal agencies are diversifying their services to remain relevant and profitable. Australia Post’s move is expected to not only streamline its operations but also reduce costs associated with daily letter deliveries, ultimately benefiting both the organization and its customers.

While the change may be welcomed by those who prefer faster parcel deliveries, it raises questions about the impact on individuals and businesses reliant on daily mail services. Australia Post will need to address concerns regarding the potential delay of important correspondence and provide solutions to ensure minimal disruption for customers during this transition period.

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RBA maintains 4.35% rates as mortgage applications surge



The Reserve Bank of Australia (RBA) has decided to keep its official cash rate at 4.35%, citing concerns over the rapidly increasing number of mortgage applications.

This decision comes after several consecutive meetings where the RBA has refrained from adjusting interest rates.

The central bank’s decision to hold rates steady reflects their cautious approach to managing the current housing market boom. Mortgage applications have seen a significant surge in recent months, driven by record-low interest rates and increased demand for housing. While this has been a boon for the real estate industry, it has raised concerns about the potential for a housing bubble and financial stability.

Experts are divided on whether the RBA’s decision is the right course of action.

Some argue that maintaining low-interest rates is necessary to support economic recovery, especially in the wake of the COVID-19 pandemic. Others worry that the continued surge in mortgage applications without rate adjustments could lead to unsustainable levels of household debt.

In light of this decision, homeowners, prospective buyers, and investors will be closely watching the housing market’s trajectory and wondering how long the RBA can maintain its current stance.

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