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

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3 years ago

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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. 

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Money

U.S. small business confidence hits 3-1/2-year peak

US small business confidence hits 3.5-year high post-election, driven by optimism for economy and hiring plans.

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12 hours ago

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December 11, 2024

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U.S. small-business confidence reached its highest point in nearly 3-1/2 years in November, according to the National Federation of Independent Business (NFIB).

The NFIB’s Small Business Optimism Index increased by 8.0 points to 101.7, marking the highest level since June 2021.

This surge followed the recent elections, which saw Donald Trump winning the presidential race and the Republican Party gaining control of Congress.

Small business owners, who typically lean Republican, showed increased confidence, a trend anticipated by economists.

Other sentiment surveys also reported improvements in consumer confidence post-election.

Economic improvement

The percentage of small business owners expecting economic improvement rose significantly, indicating a shift in outlook.

More owners believe now is a good time to expand their business, with expectations for higher sales growth increasing. Concerns about inflation slightly lessened, as fewer owners cited it as their primary issue.

Additionally, the uncertainty index for small businesses dropped, reflecting increased stability in economic expectations.

Despite ongoing labor shortages in various sectors, the number of businesses planning to hire rose to the highest level in a year.

Compensation for employees saw an uptick; 32% of owners reported increases, while a notable percentage plans further raises in the coming months.

 

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Money

Inflation report tests stock rally before Fed meeting

**Inflation report next week could impact stock rally; Fed rate cuts anticipated amid strong job growth and resilient economy.**

Published

3 days ago

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December 9, 2024

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An upcoming inflation report will assess the strength of the U.S. stock market rally and influence the Federal Reserve’s rate cut strategy.

The S&P 500 has recorded its third consecutive weekly gain, increasing over 27% year-to-date.

This upward momentum in equities is influenced by expectations of additional Fed interest rate cuts amid a resilient economy.

Friday’s employment report indicated stronger than expected job growth, reinforcing this positive outlook. However, this data is not expected to change the Fed’s rate plans for its upcoming December meeting.

The consumer price index data due on Wednesday may alter this optimistic sentiment if inflation exceeds expectations, posing risks for well-performing stocks.

Experts note that if inflation rates are high, it could create uncertainty for investors before the Fed meeting.

Following the recent jobs report, the probability of the Fed cutting rates has increased, with nearly a 90% chance predicted for a 25 basis point cut.

The consumer price index is expected to rise by 2.7% over the past year.

If CPI results are higher than expected, it might prompt a cautious approach on future cuts, affecting outlooks for 2025.

Additionally, inflation concerns are heightened by the potential introduction of tariffs by President-elect Donald Trump.

Despite these factors, stock prices continue to rise, although there are warning signs of overly optimistic sentiment in the market.

Some analysts maintain a positive view on stocks heading into the year-end, citing a reduction in concerns surrounding the economy and interest rates.

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Money

Stocks on the way to achieve three consecutive years of gains

S&P 500’s strong 2024 raises hopes, but concerns linger over AI sustainability and economic headwinds affecting future gains.

Published

3 days ago

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December 8, 2024

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The S&P 500 has risen 28% in 2024, poised for consecutive annual gains of over 20%.

Major banks forecast more modest returns for 2025, projecting the index reaching 6500, a 6.7% rise from approximately 6090.

Barclays has a more optimistic target of 6600, with Bank of America and Deutsche Bank expecting 6666 and 7000, respectively.

President-elect Donald Trump’s policies are seen as potentially beneficial for stocks, though high interest rates and geopolitical issues pose risks.

Investors remain cautious about the sustainability of the rally.

Economic conditions

Upcoming inflation data will be crucial for assessing economic conditions before the Federal Reserve’s anticipated rate cut in December.

Increasingly, small-cap stocks are joining the rally, with the Russell 2000 index nearing record highs.

More than 220 S&P stocks have hit 52-week highs recently, which indicates broader market strength, making it less susceptible to downturns.

The early market gains were largely driven by major tech stocks, which continue to perform well amid various challenges.

Long-term growth expectations, however, appear dim, with forecasts suggesting limited gains over the next decade.

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