Here is a look at what is making news around the country today.
Today’s national news includes Australian Inflation slowing down, Australians fuming over high airfares, more than 160 public schools in SA being affected by strike action, and Lockheed bagging Australia’s $487 million missile shield program.
Economy
Australian Inflation slows down
Australia’s inflation slowed to a 17-month low in July, driven by falls in holiday travel and fuel prices, while a measure of core inflation cooled, a signal that interest rates might not need to rise again, Reuters has reported. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 4.9% in the year to July, down from 5.4% the previous month and under market forecasts of 5.2%. In an encouraging sign, CPI rose by 0.3% in July on a monthly basis, taking the three-month annualised rate to 2.8%, back in the RBA’s target band of 2-3%.
Business
Australia fumes over soaring airfares as Qatar Airways flights blocked
Canberra is being accused of protecting national carrier Qantas’s bottom line at the expense of consumers. After soaring during the COVID crisis, the cost of air travel in Australia has remained as high as double pre-pandemic levels – and critics have placed much of the blame on protectionism by the Australian government. Last month, Canberra rejected a bid by Qatar Airways to add 21 weekly flights to the 28 it already operates between Europe and Sydney, Brisbane and Melbourne. The proposal would have added approximately one million extra seats annually, putting downward pressure on the spiking airfares, Aljazeera reported.
Education
More than 160 public schools in SA to close due to strike action
More than 160 preschools and public schools across South Australia are set to close on Friday as teachers strike for better pay and conditions, 9 News reported. The South Australian Education Union has planned to strike on Friday, September 1 after 80 per cent of members voted in favour of industrial action for the first time since 2019. The union said failed negotiations with the government have been underway for nine months. The union wants an 8.6 per cent pay rise in the new enterprise agreement with the government, followed by a 5.5 per cent increase in the two years after.
Defence
Lockheed bags Australia’s $487 million missile shield program
Lockheed Martin has secured a contract for 765 million Australian dollars ($487 million) to begin the first phase of Canberra’s Air6500 missile defence project, Defensepost.com reported. The company edged out fellow American defence giant Northrop Grumman in the bid to provide the Australian Defence Force (ADF) with a Joint Air Battle Management System (JABMS) for future Integrated Air and Missile Defense capability. Lockheed’s first-of-its-kind JABMS would provide improved situational awareness and defence against increasingly advanced air and missile threats.
https://www.thedefensepost.com/2023/08/30/lockheed-australia-missile-defense/?expand_article=1
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