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Queensland Investment Corporation, an Australian investor, has written off its stake in Thames Water, marking its value as zero. This comes as Thames Water faces a crisis after its parent company defaulted on its debts and shareholders refused to invest more equity. The utility is running out of cash and is being put into special measures by regulator Ofwat. Other investors, including Omers Farmoor Singapore Pte and Church Water Investment, have also written off their stakes in Thames Water's parent company. [Extracted from the article]

Australian Prime Minister Anthony Albanese has criticized social media company Meta Platforms Inc., calling them arrogant and irresponsible. The government is currently engaged in a battle to ensure that Meta continues to pay local media organizations for their content. Under the Australian news media bargaining code, Meta could face fines of 10% of its Australian revenue if it does not engage in payment discussions with news organizations. Albanese believes that social media companies have a responsibility to keep news on their platforms and should fulfill their previous commitments to pay for content. [Extracted from the article]

The Greens party in Australia is proposing the establishment of a Truth and Justice Commission to address injustices against Indigenous peoples. This comes after a failed proposal to include First Nations citizens in the constitution. The commission would examine the impact of injustices, seek redress in a culturally appropriate manner, and increase public understanding of Aboriginal and Torres Strait Islander experiences. The Minister for Indigenous Australians, Linda Burney, emphasized the need to understand the outcome of the previous referendum before moving forward. [Extracted from the article]

Australian Treasurer Jim Chalmers has stated that while inflation in Australia is still too high, it is following a similar trajectory to countries like the US and Canada. Chalmers emphasized that although Australia's inflation peaked later and lower than other countries, the overall experience has been comparable. Concerns have arisen that the Reserve Bank of Australia may resume its tightening policy due to a recent increase in consumer prices. Chalmers pointed out that inflation does not always decrease in a straight line, but rather fluctuates along the way. [Extracted from the article]

Chinese investors and creditors are selling off real estate holdings around the world to raise cash amid a deepening property crisis in China. The prices they receive will provide insight into the extent of the industry's troubles. The slump in property values has already wiped off over $1 trillion in office property values alone, but the full extent of the damage is still unknown due to the lack of asset sales. The market freeze could be concealing large losses, posing risks for banks and asset owners. Chinese developers are now starting to sell overseas assets acquired during a decade-long expansion spree, even at a financial loss, to support domestic operations and pay off debts. The market is expected to gain more clarity as more transactions occur, which will help appraisers value other assets and potentially trigger wider impairments. While there has been a slow trickle of Chinese-owned sales in Europe, the volume is starting to grow again, with distressed developers selling off assets. The sales are part of a rebound in disposals after some developers paused for restructuring plans. The article also mentions specific examples of Chinese-owned properties being sold at discounts in London and Australia. The wider impact of these disposals will depend on how seriously the market takes the results. [Extracted from the article]

Blackstone Inc. and Brookfield Corp. are among the global investors investing in the multifamily apartment market in Australia, which is facing a housing crisis with rental vacancies at around 1%. Other players in the sector include Ontario Municipal Employees Retirement System, UBS Asset Management, PGGM, and Greystar Real Estate Partners LLC. Currently, there are over A$14 billion in institutional commitments to Australian projects in the build-to-rent sector. The build-to-rent sector is expected to become the largest property class in terms of construction starts by 2030, with an estimated value of A$10 billion per year. However, challenges such as low returns, high land prices, construction costs, and compliance issues need to be addressed. [Extracted from the article]

AustralianSuper, the largest shareholder of Origin Energy, increased its stake in the company to 16.5% ahead of the shareholder vote on the Brookfield Asset Management-led bid. This comes after AustralianSuper rejected an invitation to participate in the bid, stating that it has no interest in engaging with the consortium. AustralianSuper has opposed the deal, arguing that the price is below the utility's long-term value and expressing willingness to provide capital to Origin as it transitions to cleaner electricity generation. The shareholder vote is scheduled for November 23, and a minimum of 75% approval is required for the takeover offer to proceed. [Extracted from the article]

The menu changes daily - you might kick things off with a swordfish empanada or two, followed by southern calamari and yellowfin tuna nduja (A$36), which the restaurant describes as "spaghetti bolognese without the pasta or the bolognese." More extravagant offerings include a salt-baked whole mud crab menu that comes with a slew of accompaniments, like chicken fat rice (A$220 per person), and the suckling pig feast (A$190 per person). [Extracted from the article]

"There is no silver bullet when it comes to addressing our housing crisis", Rose Jackson, the state's minister for housing, said in an emailed reply to questions. (Bloomberg) -- It's getting harder than ever to rent a home in Australia as one of the world's most acute real estate shortages worsens by the day. Housing "Vicious Spiral" Drags Australia Into Deepening Crisis. [Extracted from the article]

: QuickTake Backers of small modular reactors include Bill Gates and Warren Buffett, though there's currently only a handful of operating plants and key developers have recently flagged cost challenges. (Bloomberg) -- Replacing Australia's coal-fired power stations with small modular nuclear power reactors would cost A$387 billion ($249 billion), according to Climate Change and Energy Minister Chris Bowen. Australia would need 71 small modular reactors to replace the 21 gigawatts of coal-fired power in the system, he said, discussing analysis from the Climate Change Department. [Extracted from the article]

Australia supports the law, Russia has not been real good at upholding the law in recent times", Albanese said at a press conference in Canberra on Monday. (Bloomberg) -- A Russian diplomat who had been squatting on the disputed site of Moscow's proposed new embassy in Canberra has left, after Australia's High Court ruled that Russia has no claim to the property, local media has reported. [Extracted from the article]

(Bloomberg) -- Australia plans to end the use of checks by 2030 as more efficient digital methods become the preferred way of paying, according to a plan to overhaul the country's payments system. There's been a rapid fall in the use of checks in the past 10 years, and they now comprise only 0.2% of non-cash payments in the country, according to the government plan released Wednesday. [Extracted from the article]

Australian vintners have sought new buyers for their wine after China imposed heavy tariffs on the country's wine exports in 2020, decimating what was once its most lucrative market. (Bloomberg) -- Australia's wine exports to China could take years to recover fully after any easing of steep tariffs, the head of Penfolds owner Treasury Wine Estates Ltd. said, as frosty ties between the two countries show signs of thawing. [Extracted from the article]

Meanwhile, government interventions mean that average national retail electricity prices are expected to rise about 10% in 2023-24, compared to an earlier estimate of 36%, while those getting electricity bill relief will generally face smaller price increases, according to budget papers. Big Superannuation Balances The tax rate on income from large pension account balances will be doubled to 30% from 2025-26, in a move the government said would impact less than 0.5% of account holders and make the system more sustainable. (Bloomberg) -- Welfare programs have been given priority in Treasurer Jim Chalmers's latest budget, as the Albanese government follows through with some of the election promises that helped sweep it into office last year. [Extracted from the article]

(Bloomberg) -- Chinese and Australian officials will meet in Beijing next week for talks related to their trade dispute, Guardian Australia reported. Australia's Trade Minister Don Farrell and Chinese Commerce Minister Wang Wentao held virtual discussions in February, the first between top trade ministers on both sides since 2019. [Extracted from the article]

The house cocktail weaves its way through the food menu too: Briny Sydney rock oysters arrive with a Negroni dressing, while the housemade tiramisu packs a long Campari-orange finish. (Bloomberg) -- More than half a million people are expected to descend on Sydney in mid-February over the two-plus weeks of WorldPride, an event that's expected to inject A$112 million ($78 million) into the state economy and provide a much needed boost to the harbor city's night life. Step away from the tourist magnets and seek out martini-centric bars or raucous beer pubs in the buzzing Inner West, surprising wine lists in the swanky Eastern Suburbs and establishments offering mezcal in the middle of the city. [Extracted from the article]

"Flags from Russia and Belarus are banned onsite at the Australian Open", Tennis Australia said in a statement Tuesday. (Bloomberg) -- Russian and Belarussian flags will be banned from the Australian Open after a confrontation at a match on the first day of the tennis tournament, organizers said Tuesday. [Extracted from the article]

The Places With New Covid Rules for China Travelers There is a growing list of countries testing passengers and sequencing samples from people arriving from China in an effort to identify any dangerous new mutations that could spread rapidly through their populations. (Bloomberg) -- Australia said travelers departing China, Hong Kong and Macau will require a negative Covid-19 test before boarding flights to the country. [Extracted from the article]

The National Party, which is in an opposition Coalition with the Liberal Party, has said it will oppose the referendum. Opposition Leader Peter Dutton, who has criticized a lack of detail surrounding the government's proposal, said the Liberal Party would finalize its position on the vote early in the new year, according to the Sun-Herald. (Bloomberg) -- Australians could vote on changing the country's constitution to set up a representative Indigenous body in parliament as early as August, Indigenous Australians Minister Linda Burney told the Sun-Herald newspaper. [Extracted from the article]

(Bloomberg) -- Australia will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government's chief science and weather agencies. Australia has warmed on average by 1.47C since 1910, the bureau's manager of climate environmental prediction services, Karl Braganza, said in a statement. [Extracted from the article]

The MV Portland Bay and its 21 crew was towed into Port Botany in the city's south by tugboats on Wednesday afternoon. (Bloomberg) -- A bulk carrier that's been stranded off the coast of Sydney for three days in ferocious weather has reached port as wild conditions that caused widespread flooding eased. [Extracted from the article]

The MV Portland Bay, which has been without power since early Monday,has been off the coast of New South Wales state since leaving PortKembla, as Australia's east coast has been lashed by days of strongwinds and rain. (Bloomberg) -- Twenty-one crew members remain aboard a bulk carrierwhich lost power in turbulent waters near Sydney, after overnight rescueattempts failed. [Extracted from the article]

(Bloomberg) -- Twenty-one crew members remain aboard a bulk carrierwhich lost power in turbulent waters near Sydney, after overnight rescueattempts failed. The MV Portland Bay, which has been without power since early Monday,has been off the coast of New South Wales state since leaving PortKembla, as Australia's east coast has been lashed by days of strongwinds and rain. [Extracted from the article]

The pay problem is accentuated by the fact that in every age group, no more than 50% of women were in full-time work in 2021, yet more than 90% of managers are working full-time. These include gender-neutral parental leave policies, childcare subsidies support, and flexible work policies. Economic opportunity for women is one of the big issues facing Australia's newly elected Labor government, with the country home to one of the world's biggest gender pay gaps. [Extracted from the article]

Between interruptions to his speech on Friday, Xiao said that the ministerial talks between China and Australia were "very significant" following the difficult period in relations. (Bloomberg) -- China's chief envoy to Australia was heckled by several protesters in Sydney on Friday as he delivered a speech that attempted to go some way toward repairing relations between the trading partners. [Extracted from the article]

(Bloomberg) -- Australia's new government wants to hold areferendum to enshrine a First Nations voice in itsconstitution within three years, as it seeks to narrowthe deep crevice that exists between Indigenous peopleand the rest of the country's population. Enacting the Uluru Statement from the Heart, a petitionwith roots spanning back 85 years and named after thesacred sandstone monolith formerly known as Ayers Rock,first requires building consensus on the issue inparliament and in the community, she said in an interviewwith Bloomberg Television. Despite the gains, the country still lags othernations including Canada and New Zealand in terms ofFirst Nations lawmakers. [Extracted from the article]

(Bloomberg) -- A Chinese surveillance ship has been tracking Australia's western coastline for the past week, Defence Minister Peter Dutton said Friday. Read: Solomons, China Dominate Australia Defense Debate Ahead of Polls Last November, when a Chinese surveillance ship was spotted off the Australian coast, Prime Minister Scott Morrison told reporters: "They have every right to be there, under international maritime law, just like we have every right to be in the South China Sea.". [Extracted from the article]

Read: Solomons, China Dominate Australia Defense Debate Ahead of Polls The ship is a Dongdiao Class Auxiliary Intelligence ship named Haiwangxing, the Department of Defence said in a statement. (Bloomberg) -- A Chinese surveillance ship has been tracking Australia's western coastline for the past week, Defence Minister Peter Dutton said Friday. [Extracted from the article]

PM Scott Morrison, meanwhile, vowed to limit the nation's tax income should his party win re-election. Inflation Watch: Australia's inflation data is out tomorrow, with the core gauge expected to breach the upper end of the Reserve Bank's 2% to 3% target for the first time since 2010. Dollar Gains: The inflation data could also mean the Aussie dollar springs back from four weeks of losses, economists reckon. [Extracted from the article]

We're now the exclusive barley supplier to Saudi Arabia, the USDA's Foreign Agricultural Service said in a report, when Ukraine and Russia had been supplying 13% apiece. Vladimir Putin declared that Russia had seized Ukraine's Mariupol even as his defense minister said more than 2,000 opposing troops remain holed up in an industrial complex. Traders are bracing for the possibility of more aggressive policy tightening by the Federal Reserve. [Extracted from the article]

Australia's two most-populous states will scrap isolation periods for close contacts of Covid-19 cases on Friday, as the highly vaccinated country lives with the virus in the community. In New South Wales state, from 6pm Friday close contacts will have to do daily rapid antigen tests before coming into contact with people outside their household and wear a mask in indoor settings outside their home. [Extracted from the article]

(Bloomberg) -- Australian Prime Minister Scott Morrison is traveling to the national capital, Canberra, on Sunday morning to call a federal election, according to local media reports. He's expected to leave Sydney after 9 a.m. local time, then will visit the country's Governor-General David Hurley to tell him he plans to call the national poll, according to the Sydney Morning Herald. [Extracted from the article]

(Bloomberg) -- Australian world tennis number one Ashleigh Barty has announced her retirement from the sport at age 25. "Today is difficult and filled with emotion for me as I announce my retirement from tennis", an emotional Barty said in the post. [Extracted from the article]

"The reopening of WA's border is likely to unlock a recovery of inbound interstate migration, and just in time", said Bloomberg Economics's economist James McIntyre. Labor Shortage Western Australia's closure sparked an acute labor shortage in the state, where the unemployment rate tumbled to 3.7% in January. "The border reopening will definitely help in easing some of the labor shortages.", said Diana Mousina, senior economist at AMP Capital Markets. [Extracted from the article]

Keywords: ALLTOP; BUSINESS; CORONAVIR; COS; DRG; HEA; INDUSTRIES; WORLD EN ALLTOP BUSINESS CORONAVIR COS DRG HEA INDUSTRIES WORLD More than 14 million people living in Australia's two biggest states will soon be able to sing and dance at nightclubs and other venues, after New South Wales and Victoria states announced a further easing of restrictions as Covid-19 hospitalizations and ICU admissions continue to decline. R7FF9XT0AFB5 (Bloomberg) -- More than 14 million people living in Australia's two biggest states will soon be able to sing and dance at nightclubs and other venues, after New South Wales and Victoria states announced a further easing of restrictions as Covid-19 hospitalizations and ICU admissions continue to decline. [Extracted from the article]

(Bloomberg) -- Australia will allow double-vaccinated visa holders to enter the country from Feb. 21, ending around two years of strict international border controls introduced to stem the spread of Covid-19. The news will be welcomed by Australia's billion-dollar tourism industry, which saw jobs tumble by almost 12% in the year to September as the country's lengthy border closure devastated the sector. [Extracted from the article]

(Bloomberg) -- Australia will allow double-vaccinated visa holders to enter the country from Feb. 21, ending around two years of strict international border controls introduced to stem the spread of Covid-19. Story Link: Australia to Reopen for Vaccinated Visa Holders From Feb. 21 ©2022 Bloomberg L.P. [Extracted from the article]

Keywords: ALLTOP; ASIA; AU; CORONAVIR; GEN; GENTOP; TOP; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA AU CORONAVIR GEN GENTOP TOP WORLD WWTOP WWTOPAS Covid-19 hospital admissions have eased for two days straight in Australia's most-populous state, New South Wales, the first time that's happened in more than a month. R6153ET1UM0X (Bloomberg) -- Covid-19 hospital admissions have eased for two days straight in Australia's most-populous state, New South Wales, the first time that's happened in more than a month. [Extracted from the article]

Omicron represents about 90% of cases in New South Wales state, Chief Health Officer Kerry Chant told reporters Wednesday, the remainder being delta variant. (Bloomberg) -- Australia's Covid case numbers continue to surge but deaths and hospitalization rates are gaining much more slowly than overall infections, as omicron becomes the dominant variant. [Extracted from the article]

The mostpopulous state also reported its first known death fromthe omicron variant -- a man in his 80s with underlyinghealth issues who had received two doses of vaccine andbecame infected in his nursing home. (Bloomberg) -- Australia reported more than 10,000 dailyCovid-19 cases for the first time since the start of thepandemic amid the rapid spread of the omicron strain. [Extracted from the article]

Heard and Depp later recorded a video expressing remorse for their actions and noting the importance of Australian biosecurity laws. (Bloomberg) -- Actress Amber Heard has named her new dog after Australia's outspoken Deputy Prime Minister Barnaby Joyce, following a battle with the politician over pet quarantine during a visit to the country in 2015. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CORONAVIR; COS; DRG; GENTOP; HEA; INDUSTRIES; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BUSINESS CORONAVIR COS DRG GENTOP HEA INDUSTRIES WORLD WWTOP WWTOPAS Existing Covid-19 vaccines are effective at preventing serious illness from the omicron variant, but they're not as good as with other strains in preventing transmission and mild illness, Australia's Chief Health Officer Paul Kelly said at a briefing Friday. R48PR6DWLU6H (Bloomberg) -- Existing Covid-19 vaccines are effective at preventing serious illness from the omicron variant, but they're not as good as with other strains in preventing transmission and mild illness, Australia's Chief Health Officer Paul Kelly said at a briefing Friday. [Extracted from the article]

(Bloomberg) -- Australia's most-populous state reported a daily record of 1,742 Covid-19 cases Thursday, as the government loosens long-running restrictions ahead of the summer holiday period. NSW Health has urged people in the Newcastle area to cancel holiday parties in light of the surge in cases. [Extracted from the article]

Keywords: ALLTOP; ASIA; AU; BUSINESS; COS; DRG; HEA; INDUSTRIES; TOP; WORLD EN ALLTOP ASIA AU BUSINESS COS DRG HEA INDUSTRIES TOP WORLD (Bloomberg) -- One of the world's final Covid-zero strongholds is to reopen -- almost two years after slamming its borders shut. ALLTOP, ASIA, AU, BUSINESS, COS, DRG, HEA, INDUSTRIES, TOP, WORLD While other Australian states have gradually reopened as vaccination rates have risen, McGowan held strong and the state's residents were able to live almost restriction-free lives within its borders. [Extracted from the article]

While other Australian states have gradually reopened as vaccination rates have risen, McGowan held strong and the state's residents were able to live almost restriction-free lives within its borders. Western Australia will welcome fully-vaccinated international and domestic travelers from Feb. 5, Premier Mark McGowan told reporters in Perth on Monday. McGowan had previously said the state would reopen once it hit 90%, but is now prepared to open the borders in February even if that target isn't reached. [Extracted from the article]

Two other students who have early indications of an omicron infection are also being tested, Hazzard said at a briefing. (Bloomberg) -- Australia's New South Wales state is investigating whether its ninth case of the omicron variant was caused by community transmission, Health Minister Brad Hazzard said Friday. [Extracted from the article]

(Bloomberg) -- White supremacist groups including some in the U.S. are spreading vaccine misinformation online among Indigenous communities in remote parts of Western Australia in order to create fear of inoculation and cause harm, state premier Mark McGowan said. The star of that campaign, Indigenous entertainer Ernie Dingo, and his family received death threats from anti-vaccination campaigners after he participated in the inoculation push, the Sydney Morning Herald reported. [Extracted from the article]

The government last month launched a five-week vaccination blitz for First Nations people, with vaccination rates in the state's Indigenous communities at less than 50% as of Nov. 19. (Bloomberg) -- White supremacist groups including some in the U.S. are spreading vaccine misinformation online among Indigenous communities in remote parts of Western Australia in order to create fear of inoculation and cause harm, state premier Mark McGowan said. [Extracted from the article]