The world watches as Australia prepares for youth social media ban

The world watches as Australia prepares for youth social media ban

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Good morning and welcome back. We're kicking off the week with a close look at how Australia's trailblazing move to ban young people from popular social media services like TikTok and Instagram is paving the way for other countries. From Dec. 10, platforms in Australia will be required by law to block under-16s from holding accounts or face fines. My colleagues have spoken to policymakers around the world who say they're watching Australia's rollout closely — and preparing to follow suit. - Ainsley Thomson, wealth deputy team leader What's happening now Australian home prices extended gains in November as demand continued to outstrip supply. The Home Value Index jumped 1.0% following a 1.1% gain in October, property consultancy Cotality said. Perth led the increases with 2.4%, while Sydney notched 0.5% growth and Melbourne climbed 0.3%.   Sweden's Anna Breman is taking the helm of New Zealand's central bank at an ideal time, according to the man she's replacing. Breman, who begins her five-year term as Reserve Bank governor Monday in Wellington, inherits an economy embarking on a robust recovery just as inflation tracks back to target, Christian Hawkesby said. What happened overnight Here's what my colleague, market strategist Mike "Willo" Wilson says happened while we were sleeping… US stocks closed higher in a Thanksgiving muted session that saw light volumes and flows mainly from the retail client segment as the big fund managers gave themselves a long weekend. The Aussie and kiwi edged higher on the day and the month. Highlights this week are a parliamentary appearance by the RBNZ on Tuesday and Australian third quarter GDP on Wednesday. ASX futures point to a flat start to the week. Airlines across the world raced to keep their fleet operating after a major software glitch forced an urgent update for Airbus's most widely flown aircraft, with the rapid response avoiding a major meltdown during a crucial holiday-travel season. US and Ukrainian negotiators said they had productive discussions about a framework for a peace deal, but there was no final breakthrough as President Donald Trump continues to push for a truce with Russia. "This is delicate. It's complicated," Secretary of State Marco Rubio said. White House National Economic Council Director Kevin Hassett touted a positive market response to indications that Trump may pick the next Federal Reserve chair before the end of the year — a job that the president's chief economic adviser is seen as likely to win. Walt Disney's Zootopia 2, an animated feature about a rabbit cop and her crime-fighting partner, brought in $156 million at the US and Canadian box office over the Thanksgiving weekend, making it the No. 1 film. Zootopia 2 Source: Walt Disney Co. ByteDance is best known abroad as the embattled parent of TikTok. At home, though, it has quietly seized the crown for China's top consumer artificial intelligence app while bucking all the trends — a feat that offers lessons in the global tech race, writes Catherine Thorbecke in Bloomberg Opinion. What to watch All times Sydney • 09:00 a.m.: November S&P Global Australia PMI Manufacturing • 11:00 a.m.: November. Melbourne Institute Inflation One more thing... Prime Minister Anthony Albanese has married partner Jodie Haydon, becoming the nation's first leader to wed while in office. The couple tied the knot at a small ceremony on Saturday in the presence of family and close friends at the prime minister's official residence in Canberra, Albanese said in a statement. Anthony Albanese and his new wife Jodie Haydon walk together during their wedding ceremony in Canberra on Nov. 29. AFP We're improving your newsletter experience and we'd love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow us You received this message because you are subscribed to Bloomberg's Australia Briefing newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |