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Tag: cuts

  • Roxy Jacenko cuts ties with Australia after $10m property exit | Roxy Jacenko cutting final Aussi…

    Roxy Jacenko cuts ties with Australia after $10m property exit | Roxy Jacenko cutting final Aussi…

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    Roxy Jacenko cuts ties with Australia after $10m property exit

    Roxy Jacenko has cut ties with Australia for good after pocketing more than $10m from a string of Sydney property deals.

    The former PR queen, who has lived in Singapore for three years, made her move permanent after liquidating her luxury Australian lifestyle.

    According to The Daily Telegraph, Jacenko has sold off her furniture, her luxury Range Rover and even her prized custom number plates, which fetched $309,000 at auction.

    The businesswoman also handed over her agency, The Ministry of Talent, to employee Emily Hayman.

    Roxy Jacenko has cut ties with Australia for good. Picture: Jonathan Ng

    Jacenko with her husband Oliver Curtis and their children Pixie and Hunter. Picture: Instagram

    PR icon Roxy Jacenko officially quits Australia with final acts

    Sydney PR legend Roxy Jacenko has completely quit Australia, selling her assets and handing over her agency to an employee.

    The Daily Telegraph reports that Jacenko, who moved to Singapore three years ago, has been selling her luxury possessions over the last few months, “including furniture, prized number plates, which sold at auction for $309k, and her luxury Range Rover.”

    The ‘PR Queen’ has also given her talent management business, The Ministry of Talent, to staffer Emily Hayman.

    Sources told the DT that Jacenko is “loving Singapore” and “has no plans to return to Australia on a full-time basis.”

    One source said: “Pixie is loving school in Switzerland and is thriving, and Hunter absolutely loves Singapore." 

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  • Samsung reportedly cuts some U.S. jobs, offers relocations ahead of HQ move | Samsung laying off …

    Samsung reportedly cuts some U.S. jobs, offers relocations ahead of HQ move | Samsung laying off …

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    Samsung reportedly cuts some U.S. jobs, offers relocations ahead of HQ move

    Samsung Electronics has cut jobs at its U.S. display, phone and other consumer electronics operations — affecting workers mainly in New Jersey and Texas, according to documents and two people familiar with the matter.

    The South Korean tech giant said on Sunday in a statement to Reuters that 739 roles in Englewood Cliffs, New Jersey, have been affected by plans by Samsung Electronics America (SEA) — which is focused on consumer electronics and does not include chips — to move its headquarters to Texas.

    A majority of people affected have received relocation offers, but others were let go, it added without elaborating.

    At SEA's Plano, Texas, office, some 100 workers, including staff in its mobile division, have been let go, according to one person who said they were among the employees laid off. Sources declined to be identified because of the sensitivity of the issue.

    Samsung cuts hundreds of US consumer electronics jobs ahead of Texas HQ move — 739 roles affected in New Jersey as chip division posts record profit

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  • Rate cuts could come earlier than expected — but there’s a catch | Westpac stands firm on Augus…

    Rate cuts could come earlier than expected — but there’s a catch | Westpac stands firm on Augus…

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    Rate cuts could come earlier than expected — but there's a catch

    SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

    Even if you weren’t a Telstra customer, you were likely affected by its network outage on Wednesday, as its share price fell in the aftermath.

    However, sharemarkets were more impacted by the renewed hostilities in the Middle East which caused a spike in oil prices and will likely lead to higher petrol prices in a few weeks.

    On a positive note, the Australian sharemarket welcomed its newest company in what was a successful listing.

    And one of our biggest banks is now expecting interest rates to fall earlier than expected, albeit with a condition: they need to rise first.

    Major bank drops new expectation for 2027 rate cuts

    All of Australia’s largest home loan lenders anticipate Aussie households are now in line for interest rate relief from next year.

    It comes as Westpac – typically the most hawkish of the big four banks – updated its expectations around the Reserve Bank’s interest rate path today, confirming it now expects rate relief next August rather than in 2028.

    The change comes after the bank updated its inflation outlook on the back of ongoing conflict in the Middle East, noting some improvement in the energy market outlook.

    It comes after a challenging few months for households juggling high fuel and food prices as the global oil crisis wreaks havoc on supply changes internationally.

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  • No rate cuts until 2027 as a fourth rise looms, say economists | Interest rate cut all but ruled …

    No rate cuts until 2027 as a fourth rise looms, say economists | Interest rate cut all but ruled …

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    No rate cuts until 2027 as a fourth rise looms, say economists

    Economists have all but ruled out an interest rate cut from the Reserve Bank of Australia before well into next year, while the chance of another rate increase remains a line-ball call as the central bank waits to see what happens with inflation.

    A very slim majority of the 32 economists polled for The Australian Financial Review’s latest quarterly survey said the cash rate had peaked at 4.35 per cent. That’s after three back-to-back rate rises at the start of the year before the RBA held fire at its June board meeting.

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    Interest rate cut all but ruled out until 2027

    Borrowers could have to wait until 2027 before a rate cut, according to dozens of Australia’s top economists.

    However, the prospect of no further rate hikes looks more likely, with just over half of the 32 economists polled for The Australian Financial Review’s latest quarterly survey predicting that the cash rate had peaked at 4.35 per cent.

    Reserve Bank of Australia Governor Michele Bullock has explicitly refused to rule out further rate hikes this year. Louise Kennerley

    HSBC’s chief economist for Australia and New Zealand Paul Bloxham told the AFR he expected “an extended pause” on interest rates.

    He estimated that it would take until at least mid-2027 for the Reserve Bank to be sufficiently convinced that inflation was heading back to target – particularly after an unexpected uptick in inflation late last year forced the RBA into a sharp about-face on rates.

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  • Fuel price cuts extended through July, but discount drops by half | Federal fuel tax discount ext…

    Fuel price cuts extended through July, but discount drops by half | Federal fuel tax discount ext…

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    Fuel price cuts extended through July, but discount drops by half

    The fuel excise rebate was originally set to expire on June 30. (ABC News)

    The federal government is winding back its discount to the fuel excise over the next month.

    The 32 cents per litre fuel discount will drop to 16 cents per litre, and the Heavy Vehicle Road User Charge will increase from free to 16 cents per litre.

    Prime Minister Anthony Albanese has not ruled out extending the discount again. 

    The federal government is winding back its discount to the fuel excise, after three months of relief for motorists.

    The 50 per cent discount, which has knocked 32 cents off each litre of petrol, will drop back to 16 cents between July 1 and August 2, before tapering off altogether.

    Federal fuel tax discount extended, but not in full

    SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

    Cost relief at the bowser has been extended for another month, although the savings won't be as substantial.

    Prime Minister Anthony Albanese has announced a limited extension of the fuel excise, making petrol and diesel 16 cents per litre cheaper than the full price in July.

    The current saving is 32 cents a litre after it was cut three months ago, following the outbreak of war in the Middle East and ensuing strangulation of global oil supplies.

    That discount is scheduled to expire on 30 June, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.

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    Petrol prices in Australia are now lower than before the Iran war began. Is the oil crisis over and what happens next?

    Fuel suppliers outside the Middle East have proved to be much more flexible than analysts expected – and China surprised everyone

    Australians were warned soon after the Middle East conflict started that the country could run short on fuel, with prices rising to record levels owing to disrupted oil supplies.

    Now, amid an uneasy peace deal and continued supply disruptions, petrol prices are lower than they were before the conflict began and official warnings over fuel usage have largely disappeared.

    Why haven’t we run out of fuel? Why were we told to cut back? And what will happen now?

    The US-Israel war on Iran closed the strait of Hormuz, through which about a third of the world’s crude oil travelled in 2025. Oil is refined into petrol, diesel and other fuel products.

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  • Thailand cuts visa-free stay period for more than 90 countries including UK | Thailand to slash t…

    Thailand cuts visa-free stay period for more than 90 countries including UK | Thailand to slash t…

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    Thailand cuts visa-free stay period for more than 90 countries including UK

    UK citizens are among dozens of nationalities who will soon have to apply for a visa if they wish to stay in Thailand for more than 30 days.

    Tourists from 93 countries have been able to visit without needing a visa for 60 days since July 2024, as part of a government effort to boost the economy following the Covid pandemic.

    But it approved plans on Tuesday to revoke this exemption, with how long travellers can stay to now be decided on a country-by-country basis. It cited security and a confusing visa scheme among reasons for the change.

    There have been a series of high-profile arrests of foreigners in the south-east Asian nation, including cases linked to drugs and sex trafficking.

    Thailand to slash tourist visa-free stays

    Southeast Asia’s tourism powerhouse to introduce new tiered visa system.

    Thailand’s cabinet has approved a drastic reduction to its visa-free entry scheme for tourists from more than 90 countries.

    The decision, issued on Tuesday, shifts the country away from a sweeping 60-day visa exemption introduced in July 2024 to stimulate its post-pandemic recovery. That exemption was for areas that included the United States, Israel, parts of South America and Europe’s 29-nation Schengen zone.

    Under the new framework, the government will revert to a tiered system, capping visa-free stays at 30 days while shortening permission for citizens of some countries to just 15 days.

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  • Huge cuts to national disability insurance scheme aim to save more than $36bn in budget’s large…

    Huge cuts to national disability insurance scheme aim to save more than $36bn in budget’s large…

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    Huge cuts to national disability insurance scheme aim to save more than $36bn in budget’s largest single measure

    NDIS changes foreshadowed by health minister Mark Butler will drastically reduce access to the scheme, with nearly 700 staff positions to go at NDIA

    Federal budget 2026 LIVE updates: Australia government budget announcement and speech – latest news

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    The government expects to recoup $36.2bn by curbing the national disability insurance scheme’s growth over the next four years as it looks to return to the NDIS’s “original purpose” of supporting people with “significant and permanent disability”.

    The treasurer, Jim Chalmers, said the budget’s savings package amounted to genuine economic reform, beyond the “usual nips and tucks”.

    'Live at my house for a week' says mum of kids on NDIS

    Kirsty Johnson wants the federal health minister to understand how important her family's National Disability Insurance Scheme supports are. (ABC Riverland: Shannon Pearce)

    Federal Health Minister Mark Butler has been invited to spend a week at the home of a regional family on the National Disability Insurance Scheme (NDIS).

    Kirsty Johnson is concerned about what recently announced changes to the NDIS might mean for the support for her two autistic boys.

    Families are anxiously waiting to hear more detail about how the changes will be implemented.

    A single mother of two autistic boys has a proposal for the federal health minister: spend a week with her family in regional South Australia.

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    Federal budget 2026: NDIS legislation takes priority over tax changes as Labor chases savings

    Savings measures in Tuesday’s federal budget, including a $37.8 billion cut to the runaway cost of the NDIS, will help shave $45 billion from the cumulative deficit over the next five years, but a return to surplus is expected to be still at least a decade away.

    The NDIS cut is by far the largest savings measure in the budget, contributing well over half the $63.8 billion total savings measures the government will claim by 2029-30 when it releases the budget on Tuesday night.

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  • “Power Cuts, CCTVs Turned Off”: Mamata Banerjee’s Big Charge Before Counting | ‘Cars with BJP fla…

    “Power Cuts, CCTVs Turned Off”: Mamata Banerjee’s Big Charge Before Counting | ‘Cars with BJP fla…

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    'Cars with BJP flags allowed entry at Bhowanipore counting centre': TMC’s big charge ahead of results

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  • Big cuts at Nine, ‘all roles’ impacted | Nine Network unveils plan to make TV news better, fa…

    Big cuts at Nine, ‘all roles’ impacted | Nine Network unveils plan to make TV news better, fa…

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    Nine Network unveils plan to make TV news better, faster (and cheaper)

    Australia’s biggest television newsroom has unveiled a radical restructure that will slash the cost and complexity of producing broadcast news, as it bids to reinvent itself in the age of TikTok, Netflix and YouTube.

    Senior executives at the Nine Network have been working for more than a year on the plan, called Future News, which was revealed to the newsroom’s 800 national staff on Thursday at a town hall meeting.

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    Nine announces redundancies as part of ‘Future News’ consolidation project

    Nine has announced a raft of redundancies in its broadcast division as part of a consolidation project dubbed “Future News”, Crikey can reveal. 

    Following a briefing on Thursday afternoon, a memo to staff from director of news and current affairs Fiona Dear, seen by Crikey, said at least 20 jobs were initially expected to be cut as part of the changes. It stressed that “this isn’t about doing the same work with fewer people to save money; it’s about acknowledging that the work itself is changing across our industry and we must adapt to survive and thrive”.

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  • Qantas cuts domestic flights and raises fares as fuel costs blow out | Higher fares, fewer flight…

    Qantas cuts domestic flights and raises fares as fuel costs blow out | Higher fares, fewer flight…

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    Qantas cuts domestic flights and raises fares as fuel costs blow out

    The airline announced an increase in its fuel cost estimates to up to $3.3 billion for the second half of the financial year. (AAP: Dan Himbrechts)

    Qantas estimates its fuel bill could reach up to $3.3 billion due to the ongoing war in the Middle East, more than $800 million above its previous estimate.

    The airline says it has reduced domestic flight capacity in May and June, with most cuts on routes between major capital cities.

    Qantas say its fuel suppliers and the government continue "to provide confidence in fuel supply for the remainder of April and well into May".

    Qantas will cut domestic flights due to higher fuel costs and the uncertainty of the Middle East war, as it flags as much as $800 million in extra fuel costs.

    Higher fares, fewer flights: Qantas goes into damage control

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    Cancelled flights, $20,000 one-way international airfares, moves to bolster the balance sheet – sounds familiar? Qantas is in the eye of the US-Iran storm as it attempts to use all weapons in its arsenal to blunt a hit of up to $800 million in additional fuel costs.

    It has a COVID-esque feel to it without the existential hue, without ghost flights sold to customers or the airline’s passenger service catastrophe. But make no mistake, Qantas is in damage control as its profit is being ravaged by Donald Trump’s Middle East war.

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    ASX 200 LIVE: ASX rises on Iran war optimism; Future Fund to cut costs; Qantas cuts domestic capacity

    Crypto rallies as easing Middle East tensions revive risk trade: IG

    ASX rises on hope of further US-Iran talks; BHP jumps on China reports

    Australian shares advanced on Tuesday, and oil retreated as US President Donald Trump raised hopes for an Iran deal even as a blockade of the Strait of Hormuz took effect.

    The S&P/ASX 200 Index rose 44.2 points, or by 0.5 per cent, to 8970.2 at 2.04pm AEST, with six of the 11 sectors stronger.

    Asian equities were higher as markets weighed optimism that a US-Iran deal could still be reached despite failed ceasefire talks in Pakistan over the weekend. Sentiment was also supported after Trump said Iran had contacted his administration on potential peace talks, even as the US moved to begin a naval blockade of the Strait of Hormuz in the seventh week of the conflict.

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