Here is a look at what is making news around the country today.
Today’s national news includes essential workers in Australia who are unable to afford to rent alone, Australia reaching an agreement with China to resolve a trade dispute, the world’s largest cryptocurrency exchange can no longer legally operate within Australia after license revocation, and poor discipline in Australian schools driving teachers away.
Nation
Workers unable to afford to rent alone in Australia
Soaring rents have made living alone impossible for Australia’s essential workers: new research shows some would have to spend around two-thirds of their income to afford a place on their own, The Guardian has reported. There were virtually no regions of Australia where a single full-time worker, such as those in aged care, early childhood or nursing, could afford to rent by himself or herself. In the past three years, typical rents across the country have gone up by more than $100 a week, hitting $489 in March, according to SQM Research. For essential workers, that means they’ve lost an average of six hours from their weekly income – an average of 37 days each year – on rent increases.
Economy
Breakthrough in Australia-China trade dispute
Australia has reached an agreement with China to resolve trade blockages on barley exports its hopes will be followed by the removal of similar tariffs on wine, The Courier Mail reported. Foreign Minister Penny Wong announced on Tuesday the two nations had reached a partial breakthrough in their long-running trade dispute over Chinese sanctions on Australian products worth an estimated $20 billion a year. China had agreed to undertake an “expedited” review of the tariffs it imposed on Australian barley when relations between the two countries plummeted in 2020. In return, Australia will temporarily suspend its appeal to the World Trade Organisation over the matter.
Business
ASIC revokes licence of Binance Australia
The world’s largest cryptocurrency exchange can no longer legally operate within Australia after financial regulator ASIC cancelled the firm’s financial services license due to policy breaches that left consumers financially exposed, ia.acs.org has reported. Binance Australia Derivatives—the trading name of Oztures Trading Pty Ltd—was found to have been selling the products to hundreds of retail customers while inaccurately classifying them as wholesale customers.
https://ia.acs.org.au/article/2023/asic-revokes-licence-of-binance-australia.html
Education
Poor discipline in Australian schools driving teachers away
The Organisation for Economic Co-operation and Development said poor discipline in Australian schools is contributing to a “high level of teacher attrition”, The Guardian has reported. The Department of Education statistics said that Australia faces a projected deficit of 4,100 high school teachers by 2025. Australian teachers worked “higher-than-average net teaching hours” and received “slightly less competitive salaries compared to other similarly educated professions, except for school principals”, the OECD said.
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