Here is a look at what is making news around the country today.
Today’s national news includes the Australian dollar cutting its rally over the lingering banking crisis, migrant workers feeling unsafe at work in Australia, property prices still strong despite the market downturn, and the iconic Caruso’s Italian Restaurant in Sydney shutting down due to inflationary pressures on doing business.
National
Migrant workers feel unsafe at work in Australia
A new survey by the Migrant Workers Center revealed that half of all migrant workers in Australia feel unsafe at work, the Manila Times has reported. The poll, involving 1,000 migrant workers, found that half of the respondents have experienced discrimination, bullying and verbal abuse in Australian workplaces, while 58 per cent have been victims of wage theft. Almost 60 per cent of respondents in precarious employment said they often or always felt unsafe at work.
Economy
Australian dollar cuts rally over lingering banking crisis
The Australian and New Zealand dollars reversed early gains yesterday, as investor optimism faded over a rescue deal for Credit Suisse and a concerted effort by global central banks to restore confidence, The Financial Post has reported. The Aussie eased 0.1% to $0.6692, after rising as much as 0.6% to $0.6743 earlier in the day. The Reserve Bank of Australia said the stress in the global banking system was mainly confined to a small number of poorly managed banks and was one of many considerations for domestic monetary policy.
Business
Caruso’s Italian Restaurant shuts down
Caruso’s Italian Restaurant in Gymea in Sydney’s Sutherland Shire has eased operations due to the cost of living crisis and greedy corporations’ brutal pursuit of excessive profits, Sky News reported. Rocky Pitarelli, who owns the Caruso’s said the restaurant’s doors were finally closed for good after he could no longer survive the impact of skyrocketing costs (soaring shipping costs and inflation) month after month.
Property
Australian property prices remain robust
Australia’s property markets remain healthy despite some grim outlooks from market analysts, News.com has reported. PropTrack’s report on the national housing market in February shows a rise in housing prices in most capital cities but notes new listings are way down at the same time in 2022. PropTrack analysis shows that properties are moving fast in states like Queensland, Tasmania, Western Australia, and Adelaide, which all had suburbs in the top 10 for the shortest median times houses were on the market in the year to February.
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