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“Tears and Cheers” as Australia’s international border reopens
Nearly 600 days after Australia closed its international borders, the country is again reopen to the world
Sydney’s international airport became the scene of emotional family reunions after the first flights with fully vaccinated Australians landed in the country.
Fully jabbed Australians are now able to fly into and out of the country without an exemption – something that has been off the cards for 583 days in total.
Many of the passengers who were onboard the first flights from Singapore and Los Angeles walked into the arrivals terminal shortly after 6am on Monday morning local time to be greeted by emotional family members and loved ones.
Qantas Fight 12 from Los Angeles touched down in Sydney at 6.00am today with no border or quarantine restrictions for incoming passengers who are fully vaccinated. QF1 (Sydney to London via Darwin) will be the first Qantas International flight to depart out of Sydney at 6.30pm.
While the national carrier has flown hundreds of Federal Government repatriation flights during the COVID-19 pandemic, and operated under a temporary border bubble arrangement with New Zealand earlier this year, these are the first regular Qantas international passenger flights after the Australian and NSW governments relaxed restrictions on overseas travel.
All passengers on Qantas International flights are required to be fully vaccinated, unless they are under 12 years old, are 12-17 year olds travelling to Australia with their family or guardian or have an exemption.
Initial flights are limited to Australian citizens, permanent residents and their immediate families and parents in line with Federal Government requirements.
Qantas CEO Alan Joyce said: “This day has been a long time coming for our people and our customers. It’s wonderful to see Australians able to reunite with loved ones after such a long time apart.
“It’s been very challenging time for our international crew, with many of them stood down since March 2020. We are in the process of standing up our Australian-based team members who are excited to get back to doing what they love.”
Joyce said in a statament.
In a move that will ramp up domestic flights along the usually busy Melbourne-Sydney route, travel between Victoria, NSW and the ACT also becomes unrestricted from Monday
“It was amazing to welcome back our passengers, and the whole team was really emotional and excited to be able to take care of them on their journey home.”
Joyce said in a statement.
Unvaccinated travellers will still face quarantine restrictions and all travellers need proof of a negative COVID-19 test prior to boarding.
While Western Australia, which takes in one of the world’s biggest iron ore precincts, remains largely cut off from the rest of the country – and the world – as the state tries to protect its virus-free status.
News
This may be the AI market correction, according to traders
US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.
US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.
US stocks have taken a sharp dive as investors grow nervous about stretched valuations and uneven earnings reports from tech giants. Major Wall Street banks, including Morgan Stanley and Goldman Sachs, are warning that the rally could be nearing a 10% correction – a wake-up call for traders betting on unstoppable market momentum.
Nvidia, the world’s most valuable public company, dropped nearly 4%, wiping out around $200 billion in market value. Meanwhile, Palantir slid 6%, dragging other AI and semiconductor names lower. Even gold — a traditional safe haven — dipped 1.6%, signaling widespread investor anxiety.
Bitcoin also broke below the $100,000 mark for the first time since June, underscoring how jittery markets have become. As earnings season unfolds and the US government shutdown looms, investors are questioning whether the bull run that lifted the S&P 35% since April has finally run out of steam.
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News
Dick Cheney dies at 84: The end of an era in American power
Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.
Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.
Former U.S. Vice President Dick Cheney has died at the age of 84, marking the end of one of the most influential — and controversial — political careers in modern American history. Cheney served under four Republican presidents, most notably George W. Bush, where he became known as one of the most powerful vice presidents in U.S. history.
His family confirmed he passed away from complications related to pneumonia and heart disease. Cheney’s decades in Washington were defined by his hardline approach to national security and his role in shaping America’s response to the September 11 attacks.
Even after leaving office, Cheney remained a strong defender of his policies, particularly the 2003 invasion of Iraq. His passing leaves behind a complicated legacy — one that reshaped U.S. foreign policy and continues to influence Republican politics today.
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Nasdaq sell-off deepens amid AI stock concerns
Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings
Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings
– Stocks fell due to concerns over AI valuations; S&P 500 down 1.2%, Nasdaq down 1.9%.
– Palantir shares dropped 9% despite strong performance, raising questions about sustainability of high valuations.
Other tech stocks also faced declines, including Oracle and AMD, which saw drops of 4% and more than 3%, respectively.
Gains in AI stocks have inflated the S&P 500’s price-earnings ratio above 23, raising concerns about stock valuations. Ameriprise market strategist Anthony Saglimbene highlighted potential risks, stating that investors are questioning if future profit growth will support high capital expenditures.
Market Outlook
Comments from executives at Goldman Sachs and Morgan Stanley further added to market worries.
Both firms predicted potential market pullbacks, with drawdowns of 10% to 20% possible within the next two years. Saglimbene noted a narrow market breadth in recent months, suggesting limited alternatives if a downturn occurs in the tech sector.
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