10 things you need to know this morning in Australia

10 things you need to know this morning in Australia

Good morning all. Hope you had great weekends.

The governments of NSW and Victoria are both signalling they won’t be pursuing an ‘Omicron zero’ plan, and will maintain their current reopening strategies. NSW Premier Dominic Perrottet said we still have a lot to learn about the new variant, but that the number of people ending up seriously ill in hospital is low. Victoria Premier Daniel Andrews said the two states would do “everything we can” to keep travel rules relaxed for Christmas.

Ready for the election campaign? Me neither! but it certainly seems to be kicking off regardless. Early signals over the weekend show Labor’s Anthony Albanese wants to make the campaign about Scott Morrison’s trustworthiness and character, whereas Morrison is raising the spectre of a Labor-Greens coalition. Anyway, it all promises to be very edifying for us, the voters.

The TGA has given provisional approval for the Pfizer coronavirus vaccine in children aged 5 and up. This means kids aged from 5 to 11 are set to be vaccinated early next year. ATAGI, the government’s panel of vaccine experts, will have to offer their approval next.

Alternative energy retailers say they have picked up hundreds of former Powershop customers in recent weeks. Last month, fossil fuel titan Shell announced its acquisition of the climate focused power retailer. They hope a small but committed tide of new customers will help change how power is made and used in Australia.

An in-principle agreement between FedEx and the union marks the end of negotiations with the major logistics companies operating in Australia. Bargaining led by the Transport Workers Union (TWU) has affected over 20,000 transport workers. The rolling strikes have also halted parcel deliveries in a year that has seen an explosion in e-commerce. 

There’s speculation former NSW Premier Gladys Berejiklian could announce a tilt at federal politics, in Tony Abbott’s old seat of Warringah. Senior Liberals told the Sydney Morning Herald they think she has the best shot of unseating independent MP Zali Steggall, and that the fact Berejiklian is, you know, currently the subject of a corruption inquiry won’t be a barrier.

More than half — 54% — of Australian businesses say cumbersome banking infrastructure has forced them to abandon international expansion plans, according to Wise. High costs, long wait times and complicated fee structures are among the leading hang-ups among businesses. Tristan Dakin, Australian country manager at Wise, told Business Insider Australia that the trend has only been intensifying over the last five years.

More stats, coming at you. Some 43% of millennial Australians would rather invest in the stock market than spend, new research from CommSec shows. The finding reflects upward user activity, as the generation accounted for 63% of the CommSec accounts opened during the pandemic. Millennials are also increasingly eager to talk about it, alarming regulators as unlicensed financial advice swarms social media.

The pay of bank bosses could be linked to climate change targets in the future, analysts predict. Investors are applying pressure to banks over their exposure to coal, oil and gas businesses, with Citi analysts predicting that this could turn into more concrete targets for executives.

The metaverse will give cryptocurrencies a chance to wipe out “broken” business models like internet ad platforms, a Solana co-founder said. Anatoly Yakovenko told Insider in an interview believed crypto could make the metaverse better and change how companies use data. Many high-profile investors believe the metaverse could become a trillion-dollar opportunity.

BONUS ITEM

A funny one in the AFR’s Rear Window this morning about Rio Tinto and sly Twitter accounts.