ASX 200 slivers ‘into the black' following push from banks and tech
'The continued gains in banks and tech just managed to offset losses from some blue-chip players like Macquarie,' Ms Willinge said.
'It wasn't just the tech and bank plays that outperformed – energy stocks also saw a really nice rally, extending gains ... Woodside there up by about 3.5 per cent at the end of the session.'
The ASX 200 finished the day up by 0.13 per cent on Wednesday.
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SBS Australia
an hour ago
- SBS Australia
Australia isn't exporting arms to Israel, weapons components a 'separate issue', Marles says
Germany is suspending all exports of military equipment that could be used in Gaza. Australia's Defence Minister says the country's part in the Lockheed Martin supply chain is a separate issue. Richard Marles argues Australia's exports are not on the same scale as Germany and have a limited impact. Acting Prime Minister Richard Marles says any action regarding Australia's exports of component parts to Israel are unlikely to have an impact on the war in Gaza, after reiterating that Australia did not supply weapons to Israel. Marles was asked on Sunday whether Australia would follow Germany's lead to suspend all exports of military equipment that could be used in Gaza. German Chancellor Friedrich Merz, a conservative whose support for Israel was a foundation of his election campaign, last week announced he would not authorise any exports of military equipment that could be used in Gaza "until further notice". Speaking on ABC's Insiders program on Sunday, Marles was questioned on whether Australia would cease exports of armoured steel and components for F-35 jets to Israel. Marles said Australia did not supply weapons to Israel and there was "a lot of misinformation" around this issue. When pressed further on the issue of components, he said that Australia was part of the F-35 supply chain and had been for decades. "That is a multi-lateral arrangement with supply chains that are organised by Lockheed Martin in the United States and have multiple supplies in respect of all of those supply chains," he said. But he said that was "a very different question" to the issue of being an arms exporter. Marles said components were "a separate issue, and this is about having an impact on Israel". Israeli Prime Minister Benjamin Netanyahu said the army will "prepare" to take over Gaza City with Israel's proposal outlining principles for "concluding the war". Source: Getty / Amir Levy "There is no step that we can take here which has any impact in relation to the activities of Israel. And it is a very different question to what is being talked about in relation to Germany which obviously has a significant supply in to Israel," he said. "We want to do everything we can to see an end to the hostilities that are occurring in Gaza. The most important thing that we can do is use our international voice here and that's what we have been doing." After the US, Germany is the next biggest supplier of arms to Israel. Source: SBS News The Greens and pro-Palestinian groups have been pressuring the government over its military trade arrangements with Israel in recent months. Responding to Marles' comment, Greens senator David Shoebridge said: "If the Albanese government stopped the export of F-35 fighter jet parts to Israel, then their F-35 fleet would be grounded." "International law is crystal clear, parts of weapons are weapons," he added. "Australia is a key part of the F35 fighter jet program. We are the only place in the world that makes parts like the bomb bay doors and we operate as one of the few regional distribution hubs." Anthony Albanese responds to calls for sanctions on Israel Meanwhile, Prime Minister Anthony Albanese has brushed off calls to impose sanctions on Israel. "No, we make decisions and we never foreshadow any of those measures, but sometimes it's just a slogan. I mean, sanctions, I've done this before at a press conference, which sanctions are you talking about," he replied. Australian Prime Minister Anthony Albanese may be on a visit to New Zealand, but broader world matters have continued to be a pressing issue, with questions about Australia's position in regard to Israel being directed his way. Source: AAP / Peter Meecham "People aren't clear. What we need to do here is to have very clear statements and actions by the Australian government that make a difference, rather than respond to a slogan on a protest. "What we do is make a difference. The sanctions that we put on Israeli government ministers are a serious action given the actions of those ministers. So, it's entirely appropriate." Albanese also repeated his government's call for Israel to abandon its plan to seize control of Gaza City which was approved by Israel's security cabinet on Friday. "We called for an immediate ceasefire," he told reporters on Sunday morning following a meeting with Kiwi counterpart Chris Luxon. "We called for the release of hostages and we called for the unimpeded entry of aid into Gaza. "We have a humanitarian catastrophe unfolding there. And the idea that it can just be continued is completely unacceptable." Concerns around Palestinian state recognition under Hamas Opposition home affairs spokesman Andrew Hastie said he was hesitant to recognise the state of Palestine with Hamas, which is listed as a terrorist organisation by Australia, still in "prime position" to control Gaza. "If they did move to elections, let's just say that the Gaza conflict wound up and they moved to elections, what guarantee would there be that Hamas would not win another majority?" he told Sky News. However, Home Affairs Minister Tony Burke said it would not be unprecedented for Australia to recognise a country while part of it was occupied by a terrorist organisation. "There have frequently been countries where half of that nation has been occupied by a terrorist group and we haven't ceased to recognise the country," he said. "Both Syria and Iraq had a long period where parts of those countries were being occupied and realistically controlled by ISIS." - with additional reporting by AAP
ABC News
an hour ago
- ABC News
What the e-symbol means on common foods, from coleslaw to shredded cheese
Have you ever felt slightly short-changed by a salad mix or bag of shredded cheese? You may be familiar with an "e" symbol or e-mark that appears after the listed weight on pre-packaged food products (cheese, cereal, butter, chips, to name a few). Despite "popular mythology", it does not mean estimate, according to the National Measurement Institute's Tony Blefari. But it does relate to variations in product weight, and how much variation is acceptable. So, how much can a product vary under the system? And, what can you do if you suspect you're being ripped off? Mr Blefari says the e-mark on the packaging of a product means it is being packed and manufactured according to the Average Quantity System (AQS). "It doesn't mean estimate in Australia, it's more related to the [European Union] law." He says the e-mark and the AQS have a French origin and "when you translate the words, it does mean some sort of estimation, but in Australia, the e-mark does not mean estimate". According to the National Measurement Institute, the AQS is an "internationally agreed method of determining the size or quantity of pre-packaged articles". It's subject to national regulations and "is intended for use in large-scale packaging plants where goods are packed in the same quantity in batches of at least 100 packages". Mr Blefari says it helps Australian food manufacturers export because it is an international industry standard. Associate professor in marketing, retail and consumer behaviour, Louise Grimmer, says it is helpful for consumers to understand "that the weight of [all] food packages does not have to be exact" under the AQS. While it is usually cheaper to make or prepare food from scratch yourself, Dr Grimmer says, "many consumers are happy to exchange paying a little more for the convenience that pre-packaged products offer". Unfortunately, the answer is not simple because it depends on factors such as the size of the batch the product was manufactured within. Some shortfall or "tolerable deficiency" is allowed, Mr Blefari says. For example, he says that in a batch of 500 sticks of 500-gram butter, it would be acceptable for seven sticks to have a shortfall of 15 grams or 3 per cent. "In essence", food under the system has a "97.5 per cent assurance" that the volume in the packet will match the label. Consumer campaigner Christopher Zinn says significant discrepancies in large-scale commercially produced food are "pretty rare". Whether deliberate or intentional, packaged foods are more likely to be sold underweight than products in less formal settings like local farmers' markets, he says. If you notice a pre-packaged food appears less full, is lighter, compares poorly to similar products, or comes in underweight on your home scales, Mr Blefari says to contact the retailer or the manufacturer. He says you can also contact the Institute with as much information as possible, as they can investigate. Mr Zinn says you can check the weight on your home scales if you suspect something is too underweight or as an "exercise in curiosity". And "if [something you bought] is seriously underweight, you should actually take it back".
News.com.au
3 hours ago
- News.com.au
Historic Melbourne News Corp site, Lindrum Hotel gets upgrade
A $200m tower is rising on the former Hotel Lindrum site, once home to the press room of evening paper The Herald as well as a legendary billiards hall. The five-level brick structure at 26-30 Flinders St, was originally built in 1900 for Griffiths Brothers Tea Merchants, designed in the Romanesque Revival style. By the 1940s, it was occupied by Verona Press, and from the 1960s it was used by the Herald and Weekly Times, becoming known as Gravure House and serving as the printing and publishing base for titles including Home Beautiful and New Idea. Shock city's homes to earn $178 a day in 2026 'Treacherous' home issue costing Vic big In the 1970s, the building was leased to Dolly Lindrum, niece of world champion billiards player Walter Lindrum, who operated a billiards hall from the premises. It ran until 1988, when News Corp Australia reclaimed the site for use by The Australian until it was converted into a boutique hotel in 1999 and operated as Hotel Lindrum, named in honour of the billiards great. The lobby featured a restored billiard table and photographs celebrating Lindrum's sporting legacy. The hotel ceased trading in 2022 following the sale of the building to developer Time & Place. Now, the historic building, is being redeveloped into a $200m, 27-storey office tower, with construction officially underway this week. Developer Time & Place held a groundbreaking ceremony on-site, attended by Lord Mayor Nicholas Reece, builder Kapitol, architects fjcstudio and project consultants. The redevelopment will retain the heritage-protected facade fronting Flinders Street, while delivering new premium office space behind and above the original structure. Time & Place director Tim Price said the site was a landmark Melbourne site 'in every sense'. 'We've carefully planned, designed and procured every component,' Mr Price said. 'This eastern pocket of the Melbourne CBD stands head and shoulders above the balance of the city's office market, it's characterised by the best breed of new and historical buildings, elite tenants, and strong food and hospitality offerings.' The new tower will include full-floor strata office suites with views across the Yarra River, the Botanic Gardens, and the MCG, along with end-of-trip facilities, a ground-floor event space, and a new laneway connection into the Flinders Lane dining precinct. According to Time & Place, about one third of the floors have already been secured by family offices and businesses via private deals. The remaining space will be released to the market in late 2025. Kapitol Group was appointed builder following a competitive tender process. Co-founder Andrew Deveson said significant planning had gone into minimising risk and disruption on the site. 'Every detail of Lindrum's build has been digitally mapped out,' Mr Deveson said. 'Elements like neighbouring tram lines, power lines, and crane movements have all been accounted for in advance. 'That's critical on a complex project like this, where preserving a heritage facade and integrating with a modern build leaves no room for error.' The project is expected to be completed in the second quarter of 2027.
