Happy Friday, team.
1. Australia’s vaccine rollout has again been tweaked. Now, over 50s won’t be able to get the Pfizer shot until the end of the year. They’ll be given AstraZeneca instead, with Pfizer going first to younger critical workers and the remaining vulnerable aged care residents.
2. Also announced was a tightening of travel restrictions for India and a swathe of other countries facing particularly bad COVID-19 outbreaks. Arrivals from India in particular have been slashed by 30%. “These are difficult decisions we’ve had to make but the increasing risk we’ve seen from some countries, we believe necessitates managing that risk in the best way possible,” Scott Morrison said. This week India reported more than 314,000 coronavirus cases in one day, the most ever recorded by a single country.
3. Morrison appeared at a virtual climate summit overnight with a number of other world leaders. He reiterated his claim that Australia will get to net zero eventually with technology rather than regulation. “Future generations will thank us not for what we have promised but for what we deliver and on that score Australia can be relied upon,” Morrison said.
4. That may be all well and good, but Australia looks like an unambitious laggard next to the rest of the world. Joe Biden has pledged to cut US greenhouse gas emissions by 50% to 52% from 2005 levels by 2030. The goal more than doubles what the US agreed to when Biden re-joined the Paris Climate Accord, which former President Donald Trump withdrew from.
5. Vacancy rates are set to tighten in a number of inner-city suburbs as investors offload their properties in a hot market. Across the Sydney inner-city area, 10% of property listings are ex-rentals, with 14% in Perth city and 5% in Melbourne city. CoreLogic research director Tim Lawless said low rental returns and falling apartment values are also likely to be prompting some investors to sell in other areas.
6. A new survey from the Australian Bureau of Statistics reports that most Australians who withdrew super early spent the money on mortgages, rent, bills and debt. It definitely flies in the face of some suggestions the money was being splurged on discretionary purchases. The government says that the program was an “overwhelming success” at helping Australians deal with financial hardship through the pandemic.
7. A new report by social analytics agency HypeAuditor revealed the trends that impacted social media marketing in 2020. It showed that micro and nano influencers with fewer than 5,000 followers create the most engagement and value for brands. Influencers on newer platforms “care more about engaging” with their audiences, Clare Winterborn, founder of influencer and communications agency Born Bred Talent told Business Insider Australia.
8. NASA’s Ingenuity helicopter flew sideways over Mars for the first time on Thursday. Ingenuity’s team plans to fly it farther and faster in the next three flights – even if it crashes. The space drone is expected to beam back colour photos from its new flight.
9. The chairman of the catastrophically failed European Super League says the competition is not dead and merely on “standby.” That’s despite the fact that nine of the original 12 teams to join have already withdrawn following fierce backlash. “You cannot get out of the contract like this — they are binding contracts,” Florentino Pérez said. Sure buddy.
10. US President Joe Biden is eyeing tax increases for some of America’s wealthiest, Bloomberg reports. His new infrastructure bill may nearly double the country’s capital gains tax rate, the report says. The capital gains tax rate on long-term investments goes up to 20% – meaning that the new rate of 39.6% represents a significant hike.
BONUS ITEM
Alright, I’ll give this one to the ABC.
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