Sunday, September 1, 2024

Perth leads house price gains

Good morning and welcome back, it's Ainsley here with all the news you need to get your working week going.Today's must-reads:• House prices

Good morning and welcome back, it's Ainsley here with all the news you need to get your working week going.


Today's must-reads:
• House prices climb
• ANZ's alcohol policy
• Hong Kong VIP visit

What's happening now

House prices in Perth rose 2% in August, leading gains, while Adelaide's climbed 1.4% and Brisbane's 1.1%, property consultancy CoreLogic said. Sydney's home prices increased 0.3%, while Melbourne's declined by 0.2%, leaving the combined capitals index 0.5% higher for the month.

ANZ will re-examine its alcohol policies after complaints of inebriated staff on the trading floor, part of a broader probe into allegations of cultural problems at the Australian bank. Three people have left the bank following a number of allegations that relate to conduct, CEO Shayne Elliott said Friday during testimony in parliament.

Shayne Elliott, chief executive officer of ANZ Group Holdings Ltd., speaks during a hearing before the House of Representatives economics committee in Canberra, Australia, on Friday. Photographer: Tracey Nearmy/Bloomberg

Hong Kong Financial Secretary Paul Chan aims to attract more Australian companies to the city during his visit to Sydney and Melbourne this week. Chan will meet with technology firms including in the biomedical, new energy and finance fields in Australia, he wrote in a blog published on Sunday. 

There's no denying the environmental threat a stricken oil tanker in the Red Sea could pose, writes David Fickling for Bloomberg Opinion. And yet one paradox of oil spills is that the long-term damage is often far less than you'd suspect from the apocalyptic scenes of the initial days. The damage done by the hydrocarbons that make it safely to the refinery each year, however, is global, and almost imperceptible in the stealthy way it is changing our environment.

What happened overnight

Chancellor Olaf Scholz's ruling coalition was punished in two regional elections in eastern Germany on Sunday, with populist parties on the extreme right and left taking more than 60% of the vote in Thuringia and almost half in Saxony.

Israel's largest labor group is poised for a nationwide strike on Monday, the strongest push yet to force the government into a Gaza cease-fire and secure the release of hostages held by Hamas. Hundreds of thousands of Israelis demonstrated in cities around the nation on Sunday after the bodies of six hostages were found in a tunnel in the Gaza Strip.

Israelis protest for hostage release and against the government during a demonstration in Tel Aviv, Israel, on Sunday. Photographer: Kobi Wolf/Bloomberg

Elon Musk's X started to go dark in Brazil at the order of the top court as Latin America's largest nation became the latest front in a global fight over the regulation of free speech on the internet.

Kamala Harris is counting on union support to help power her to victory in November. Labor leaders are lining up to oblige, even if she hasn't spelled out just how she'd follow a president hailed as the most worker-friendly in generations.

What to watch

All times Sydney
• 9:00 a.m.:  Aug. Judo Bank Australia PMI Manufacturing
• 11:30 a.m.: Aug. ANZ-Indeed Job Advertisements
• 11:30 a.m.: Australia July Building Approvals

One more thing...

A rush for tickets to Oasis' first concerts in more than a decade crashed the sites of Ticketmaster and other ticket sellers, prompting a backlash from fans who missed out. Tickets for the 17-night UK and Ireland tour went on sale Saturday on Live Nation Entertainment's Ticketmaster as well as Manchester-based promoter SJM Concerts' GigsAndTours.com. Both sites were overwhelmed. And you thought it was hard to get a Taylor Swift ticket.

A photo illustration showing demand for Oasis concert tickets on Aug. 31. Photographer: Huw Fairclough/Getty Images Europe

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