Here is a look at what is making news around the country today.
Today’s national news includes Australia’s trade minister Don Farrell warning the European Union he would not sign a trade deal unless the bloc opens its market to more Australian farm products, and Australia’s economy grew at the weakest pace in 1½ years. Also in the news are swastika and SS signs to be banned, Australia to phase out checks as a payment method by 2030, and Aussies shelled out a total of $4.21 billion on video games last year.
Nation
Trade boss Don Farrell talks tough on EU trade
Australia’s trade minister Don Farrell warned the European Union he would not sign a trade deal unless the bloc opens its market to more Australian farm products, Reuters has reported. He said an agreement with the bloc was possible only if the EU backed down on its demands not to expose its farmers to competition.
https://www.reuters.com/markets/australia-talks-tough-eu-trade-ft-2023-06-07/
Politics
Swastika, SS sign to be banned
Australia said on Thursday it would introduce laws to the parliament next week banning public displays and sales of Nazi hate symbols, citing a rise in far-right activities at home. The swastika, one of the most recognisable symbols of Nazi propaganda, and the insignia of Schutzstaffel (SS), the paramilitary wing of the Nazi party, will be outlawed to be used as flags and armbands or printed on clothes, Reuters reported.
Economy
GDP growth weakest in 18 months
Australia’s economy grew at the weakest pace in 1½ years in the last quarter as high prices and rising interest rates sapped consumer spending while emerging signs pointed to further softness ahead amid elevated borrowing costs and a slowdown in global growth, The Star has reported. Data from the Australian Bureau of Statistics yesterday showed real gross domestic product (GDP) rose 0.2 per cent in the first quarter, easing from 0.5 per cent in the previous quarter and under forecasts of 0.3 per cent. Annual growth came in at 2.3 per cent, also missing forecasts for 2.4 per cent expansion.
Technology
Checks to be phased out by 2030
Australia will phase out checks as a payment method by 2030, and the nation’s government will stop issuing them two years earlier, The Register reported. The death of checks was recommended in a Strategic Plan for Australia’s Payments System, delivered on Wednesday and endorsed by Treasurer Jim Chalmers in a speech announcing the decision the same day. Australia’s government will lead the way by reforming its business processes that rely on checks by 2028.
https://www.theregister.com/2023/06/07/australia_phases_out_checks/
Lifestyle
Aussies shelled out a total of $4.21 billion on video games last year
Data from the Interactive Games and Entertainment Association (IGEA) and Newzoo has revealed Australians spent a whopping $4.21 billion on video games in 2022, across a range of categories – hardware, software, peripherals, and more. The majority of expenditure was on mobile games and in-app purchases, with $1.56 billion spent, while $1.5 billion was spent on digital games. Expenses for traditional retail games were pegged at $1.15 billion. Video game buyers also spent $251 million on subscriptions, $499 million on full games, and a whopping $750 million on in-game transactions, Games Hub has reported.
https://www.gameshub.com/news/news/australian-video-games-industry-worth-2022-igea-report-2619293/
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