News live: Chris Bowen congratulates ‘good friend of Australia’ Tim Walz on VP campaign pick; ticketless parking fines surge in NSW | Australia news

Bowen congratulates ‘good friend of Australia’ Tim Walz on VP pick

The energy and climate change minister, Chris Bowen, has congratulated Tim Walz on being selected as Kamala Harris’s running mate in the upcoming US election.

In a post to X, Bowen wrote:

Congratulations Mate! Being chosen by any party as candidate for Vice President of the United States is a great honour, so huge congratulations. And it’s good to have a good friend of Australia running for such an important position.

Congratulations Mate!

Being chosen by any party as candidate for Vice President of the United States is a great honour, so huge congratulations

And it’s good to have a good friend of Australia running for such an important position.

🇦🇺🇺🇸 pic.twitter.com/ZvjB1ZWPaM

— Chris Bowen (@Bowenchris) August 6, 2024

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Key events

Australian shares edge lower as traders remain anxious

Jonathan Barrett

Jonathan Barrett

Australian shares are trading slightly lower early this morning, amid volatile conditions marked by growing fears of a US recession.

The benchmark S&P/ASX200 index fell to 7,650 shortly after traders opened their laptops, down 0.4% from yesterday’s close.

The negative conditions follow a dramatic week that included $160bn being wiped from the value of Australian equities over two trading days, before staging a modest recovery yesterday.

US equity markets snapped a three-day losing streak by finishing higher overnight, however some of the gains were pared late in the session when a lot of trading activity occurs.

Volatility indicators also remain elevated, which suggests investors are cautious. Charu Chanana, the head of foreign exchange strategy at Saxo, said:

Although markets are regaining some calm after a two-day rout, recession concerns are unlikely to disappear soon.

A pedestrian reflected on glass as indicator boards of the ASX are seen through, in Sydney. Photograph: Bianca de Marchi/EPA

The volatile conditions were sparked by several pieces of economic data released last week, including jobs and payroll data, which raised questions over the health of the US economy.

While ASX moves have been largely driven by events in the US and Japan, which have seen huge price fluctuations, investors are also weighing up guidance provided by Australia’s central bank.

The RBA left rates unchanged yesterday, while noting a “rate cut is not on the agenda”.

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NSW parking fines in 2023/24, as per AAP

  • Ticketless parking fines: 822,310 (up 49% on 2022/23), raising $158m (up 54%)

  • Traditional parking fines: 558,634 (down 22%), raising $95.6m (down 14%)

  • Total: 1.38m fines, raising $253.6m.

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Embrace fairness, councils told as digital fines surge in New South Wales

Ticketless parking fines have exploded in use in NSW, with some councils refusing calls to alert drivers immediately that they’ve been fined.

As AAP reports, about 822,000 ticketless parking fines were issued in the year to June, up 49% on the prior year.

Under the system introduced by the previous coalition state government, councils can issue fines without first giving drivers an immediate notification at the time the parking infringement is identified.

This makes gathering evidence difficult, reduces the impact of a fine to act as a deterrent, and means a driver could receive multiple infringements for parking in the same spot before receiving a notification, the NSW government said.

Since concerns were highlighted on 30 March, councils have stated they have or will leave instant, on-the-spot notifications for drivers, such as a paper card. But some councils have told government they won’t shift unless compelled by law.

NSW finance minister Courtney Houssos speaking to the media today. Photograph: Bianca de Marchi/AAP

The state’s finance minister Courtney Houssos urged a “common sense fix” before it got to the point of changing legislation, saying that councils should “come to the table and deliver a solution which embraces transparency and fairness”.

If councils aren’t willing to provide a common sense fix, the NSW government will step in and use our policy levers to ensure the ticketless parking fine system meets community expectations.

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Here are the Australian athletes to watch out for today, as day 12 of the Paris Olympics kicks off:

Australia’s Keegan Palmer will be out to defend his Olympic skateboarding title, with athletics and the Opals also in action on day 12 at Paris 2024. Photograph: Odd Andersen/AFP/Getty Images
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‘Labor cannot let this project proceed’: Greens on the Browse gas project

Greens leader Adam Bandt says that Woodside’s proposed Browse gas project off the coast of Western Australia should not proceed, given the environmental concerns laid out by the Environment Protection Authority.

In a post to X, he said:

The WA EPA has deep concerns about Woodside’s Browse gas project. It would lock in gas until the 2070s [and] is the most significant climate destroying project that minister [Tanya] Plibersek can stop.

If we want any chance at a safe future, Labor cannot let this project proceed.

Greens leader Adam Bandt. Photograph: Mick Tsikas/AAP
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NSW teacher arrested for alleged sex with student

A teacher will face court after she was arrested at a school, accused of having sex with a teenage student, AAP reports.

Detectives arrested the 30-year-old woman at a school in south-west Sydney after investigating reports a teacher had sexually touched a 17-year-old boy.

She is due to face Liverpool local court today after being refused bail and spending a night in custody.

She was charged with sexually touching a person aged between 17 and 18 under special care and having sexual intercourse with a person between the same ages while under special care.

The NSW Education Department has been contacted for comment on her employment status.

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Bowen congratulates ‘good friend of Australia’ Tim Walz on VP pick

The energy and climate change minister, Chris Bowen, has congratulated Tim Walz on being selected as Kamala Harris’s running mate in the upcoming US election.

In a post to X, Bowen wrote:

Congratulations Mate! Being chosen by any party as candidate for Vice President of the United States is a great honour, so huge congratulations. And it’s good to have a good friend of Australia running for such an important position.

Congratulations Mate!

Being chosen by any party as candidate for Vice President of the United States is a great honour, so huge congratulations

And it’s good to have a good friend of Australia running for such an important position.

🇦🇺🇺🇸 pic.twitter.com/ZvjB1ZWPaM

— Chris Bowen (@Bowenchris) August 6, 2024

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US plans more frequent bomber deployments to Australia

Earlier this morning, Daniel Hurst brought us updates from Ausmin talks in the United States, attended by the foreign minister, Penny Wong, and the deputy prime minister, Richard Marles.

Here’s his full story, looking at the US plan for “more frequent” deployments of bomber aircraft to Australia:

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Peter Hannam

Peter Hannam

Westpac mulls dropping November RBA rate cut prediction, while CBA stays put for now

The Reserve Bank left its cash rate unchanged at 4.35% yesterday, where it’s sat since November last year. The RBA governor, Michele Bullock, also made it clear the bank is not likely to cut the rate for six months, at least on the current forecasts (which it updated yesterday too).

CBA and Westpac were two of the big four banks to predict an RBA rate cut in November. (The ANZ had tipped February and NAB was “pencilling in” May.)

Composite: Reuters / The Guardian

In the immediate washup, CBA was sticking to its call, reckoning “data will continue to evolve in a way that sees the RBA cut the cash rate in November”.

Westpac, though, looks like it’ll revise its prediction.

“Given the Board apparently does not see its way to cutting rates this year, our expectation of a November rate cut is unlikely to be achieved,” said Luci Ellis, Westpac’s chief economist who was formerly in that role at the RBA.

Our rate forecasts are under review while we assess the basis for the RBA’s own economic outlook.

As we noted, the fact demand in the economy is continuing to outpace supply – which doesn’t bode well for bringing underlying inflation to the 2%-3% target band soon – has a possible upside. There’s more resilience should more shocks emerge like the severe market turmoil in the past week or so:

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Amy Remeikis

Amy Remeikis

RBA’s assistant governor outlines what goes in to making cash rate decisions

Back at the cost of living committee hearing, and the RBA’s Dr Sarah Hunter has once again been asked to explain what data the RBA looks at when making its decisions on monetary policy (the cash rate).

She goes through the data – it’s a mix of everything. CPI, markets, forecasts etc. Mortgages are not captured in headline inflation data. Hunter explains:

Individuals will certainly be feeling and seeing price rises in different ways. Yes, housing costs is one of the ways that it can impact different groups in different ways. Some people are facing very high mortgage costs that are going up [and] we’re very aware of that, and we hear from those people, and we’re very confident that other people who are renting for them, housing costs are captured through rents. So in a very direct sense, the level of the interest rate doesn’t really impact them in terms of their rental payments.

Other people might well own their own home outright and not really be feeling any housing costs at the moment, and so they have a different pattern of spending again. So the economy is full of lots of individuals who have their own personal experience.

The RBA is all about the aggregate, she said.

What the ABS does with its data is aggregate that up and look at sort of averages, if you like. And from our perspective, we’re of course, interested in the aggregate, so we are taking that aggregate data and working with that.

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Contingent of Australian firefighters heading to the US to bolster efforts

A contingent of Australian firefighters have departed for the United States today, to bolster local firefighting efforts in Washington State and Oregon.

67 Australians are making the journey, including 21 from the NSW Rural Fire Service.

Last month, dozens of Australian firefighters travelled to Canada to help battle wildfires there, as well.

This morning, the first contingent of Aussie firefighters began departing for the USA. The 67 firefighters, including 21 from the #RFS, will be deployed to Washington State and Oregon to bolster local firefighting efforts.

📷 Nicholas Moir – The #ParkFire burning in California pic.twitter.com/vimTHXyrJ2

— NSW RFS (@NSWRFS) August 6, 2024

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Unions want Queensland 50c fares to be made permanent

Unions are pushing for 50c public transport fares in Queensland to remain when a six-month trial ends as the state’s transport-dominated election campaign ramps up, AAP reports.

A petition by the Queensland Council of Unions (QCU) to keep 50c public transport fares has reached almost 2000 signatures since the six-month trial began on Monday. The peak body represents more than 400,000 workers across the state.

Unions are now hoping repeated calls will force the fourth-term-seeking Labor government to keep the cheap fare policy should they win in October. The QCU’s general secretary, Jacqueline King, said:

What we need next is confirmation that this trial isn’t just an exercise in vote buying but represents an ongoing commitment by the Miles Labor government to measures that will help alleviate not only rising cost of living, but also congestion on our roads and climate impact.

A petition by Queensland Unions to keep 50c transport fares has reached almost 2000 signatures. Photograph: Dan Peled/AAP
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Amy Remeikis

Amy Remeikis

RBA assistant governor predicts inflation to return to target band in December 2025

The cost of living select committee hearing has got underway with Dr Sarah Hunter, an assistant governor with the RBA. Hunter is being grilled on when the central bank believes inflation will return to the target band (2-3%).

Hunter says they don’t believe that will happen until the December quarter of 2025 now – previously they had believed it would be the middle of 2025.

This is what we heard yesterday with the updated monetary policy statement, but Liberal senator Jane Hume wants to hear it again.

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Amy Remeikis

Amy Remeikis

Select committee hearing on cost of living to begin in Sydney shortly

Good morning from Canberra, where the false spring continues in earnest. The sun is out and the sky is clear – but don’t be fooled, it’s 0.3 degrees right now, with a “feels like” of -3.1.

But our eyes are turning to Sydney today, where the select committee hearing on the cost of living is about to get underway. This committee, which is chaired by Liberal senator Jane Hume, was set up in late 2022.

First up is the Reserve Bank, where assistant governor Dr Sarah Hunter is appearing along with Natasha Cassidy from the bank’s economic analysis department. They’ll be asked about the current economic situation – and what it means for mortgage holders.

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Tributes flow for late Maribyrnong mayor, Sarah Carter

Tributes have been flowing for three-term Maribyrnong mayor, Sarah Carter, who has died at the age of 45.

Labor MP Andrew Leigh remembered her as “kind, funny [and] generous”, writing on X that she was “committed to international development [and] loved her local community.”

In 2017, I was part of a bipartisan delegation she led to Burma with [Save the Children Australia]. Sarah was a superb leader. I will miss her.

Nationals MP Michael McCormack penned a lengthy tribute and said she was “one of the most outstanding people I have ever met”.

Sarah was going places. She had so much more to accomplish … As shadow minister for international development and the Pacific, I was closely associated with Sarah and her wonderful work. My wife Catherine and Sarah were good friends, too. Sarah brightened any room she entered. She made everyone feel they were special…

Party politics aside, Parliament needs capable, strong people such as Sarah. It is a great pity Sarah will never fulfil her dream and sit in the House of Representatives.

Shocked & saddened by the passing of my good friend, the amazing Sarah Carter. Children’s lives in many developing nations have been improved due to her remarkable work. Goodbye, beautiful soul & thanks for making the world a better place.

Full tribute: https://t.co/FdsaVrhJWW pic.twitter.com/qAKp5OAzQq

— Michael McCormack (@M_McCormackMP) August 6, 2024

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Scientists mapping genome of Arabica beans amid climate crisis threat to coffee supply

A major breakthrough by a team of international scientists could help deliver a new Australian brew of coffee, AAP reports.

The team has been pouring its efforts into mapping the genome of Arabica beans – the world’s most widely consumed type of coffee. The research has been chronicled in peer-reviewed scientific journal Nature Genetics.

The University of Queensland’s Prof Robert Henry, who was part of the team, said the genomic sequencing would help researchers come up with new varieties of coffee in Australia, which produces very little domestically.

The global coffee supply is threatened by global heating, an Australian professor says. Photograph: Louise Beaumont/Getty Images

With global coffee supplies threatened by the climate crisis, Henry said it was important for producers to adapt:

If you look at where high-quality coffee in the world comes from, much of it is produced at high altitude in the tropics. Those environments are being lost at a great rate.

There is a real need to adapt coffee to future climates and work out how to produce it in the sort of climates we’re going to have available for agricultural production.

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‘The long-term prognosis is pretty dire’, scientist says of Great Barrier Reef

Dr David Wachenfeld from the Australian Institute of Marine Science just spoke with ABC RN about that report on the Great Barrier Reef, as mentioned in our previous post.

He said researchers would be back in the water in September, and those surveys would give a clearer picture of the balance between coral survival and mortality following the bleaching event in March:

We’ll be reporting on what we find as our survey’s progress, but we won’t have a final picture for the whole Great Barrier Reef until this time next year.

Wachenfeld said that even with the changing climate, scientists expect reefs around the world to have “some good years and some bad years” – but “the balance is shifting more towards bad than good”.

Whether or not an individual year is a good one doesn’t change the fact that climate change is a massive threat to the reef, and the long-term prognosis is pretty dire.

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Latest report into Great Barrier Reef shows coral cover is ‘fluctuating like never before’: WFF-Australia

A new report into the health of the Great Barrier Reef shows it is resilient, but increasingly vulnerable to climate change.

The Australian Institute of Marine Science released the latest report from its long-term monitoring program today, showing coral cover had increased in all three regions of the Great Barrier Reef.

But the results were released with a big note of caution, as noted by WWF-Australia, with most of the underwater surveys conducted before and during the recent mass coral bleaching in March. The data also had not yet captured how many corals survived or died from that event.

WFF-Australia’s head of oceans, Richard Leck, said in a statement:

The good news is this report shows the Reef is still resilient and has bounced back from the terrible bleaching events in 2016 and 2017. But it also shows the future of the Reef is uncertain.

We still don’t know the impact of this year’s mass bleaching event, which was one of the most extensive and severe on record. We can also see that coral cover is fluctuating like never before.

Great Barrier Reef suffering ‘most severe’ coral bleaching on record – video

Leck said Australia needed to do more to stabilise global heating to 1.5 degrees:

The prime minister must commit to a federal emissions reduction target of at least 90% below 2005 levels by 2035, stop approving new fossil fuel projects, and support a global treaty to phase out all fossil fuels.

The Reef is still resilient, but the big question is how long that resilience will last as temperatures become more extreme.

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