Thanks for joining us. This is where we’ll end today’s coverage.
Here’s a look back at this afternoon’s major stories:
Energy retailer Engie has been fined almost $1.7 million for failing to protect the personal information of dozens of family violence victims.
A former journalist on Seven’s Spotlight program has launched legal action against the media company in the Federal Court.
Less than seven weeks before the US presidential election, Vice President Kamala Harris and former president Donald Trump are neck and neck in opinion polls.
In VIC, a teenager accused of raping a female jogger in Melbourne’s north has been released on bail.
In NSW, Thousands of nurses and midwives will return to the picket line next week, bringing the state’s health system to a 24-hour standstill for a second time in their bitter pay dispute with the state government
Join us again next week.
Impact of US rate cut in Australia remains to be seen
Cuts to US interest rates won’t necessarily prompt Australia’s central bank to do the same, a federal minister says, but could deliver some cost-of-living relief in the long run.
The US Federal Reserve cut interest rates by 50 basis points yesterday – the first reduction in its benchmark federal funds rate in four years.
While the move prompted speculation the Reserve Bank could cut Australia’s cash interest rate at its next meeting on Tuesday, Government Services Minister Bill Shorten said that was unlikely to happen.
“It is significant that the Fed has decided to lower interest rates in America by half a per cent, but our economies are not identical, so how long that takes to flow through, and the impact that has, remains to be seen,” Shorten told ABC Radio today.
“Our dollar rallied on the basis that the Fed was cutting rates, and of course, with a rallying dollar, it means that we’re able to buy more; it takes some inflationary pressure off us.”
Expectations remain the Reserve Bank will keep interest rates on hold at 4.35 per cent after stronger than expected jobs data yesterday. The unemployment rate remained steady at 4.2 per cent for August, with the number of jobs added to the economy being almost double what was forecast.
The figures prompted the Commonwealth Bank to revise its predictions for an interest rate cut, shifting its forecast from November to December.
Kentucky judge shot dead in his chambers by sheriff, police say
Let’s cross to some world news.
A judge in a rural Kentucky county in the United States has been shot and killed in his courthouse chambers, and the local sheriff was charged with murder, police said.
The preliminary investigation indicates Letcher County Sheriff Shawn Stines shot District Judge Kevin Mullins multiple times following an argument inside the courthouse, according to Kentucky State Police. Mullins, who held the judgeship for 15 years, died at the scene, and Stines surrendered without incident.
Kentucky Supreme Court Chief Justice Laurance VanMeter said he was “shocked by this act of violence” and that the court system was “shaken by this news”.
Letcher County’s judge-executive signed an order closing the county courthouse on Friday.
Mullins, 54, was hit multiple times in the shooting, Kentucky State Police said.
Stines, 43, was charged with one count of first-degree murder.
The investigation is continuing, police said.
Responding to the shooting, Governor Andy Beshear said in a social media post: “There is far too much violence in this world, and I pray there is a path to a better tomorrow.”
Racing NSW faces scrutiny over ‘wrongful’ interference
By Max Maddison
Racing NSW may face the state’s powerful privileges committee over concerns it is in contempt of parliament after “wrongfully” seeking out the identity of a whistleblower covered by immunity.
A special report released by the committee on Friday raised concerns about correspondence sent by Racing NSW chief operating officer Graeme Hinton on August 12 regarding allegations raised during a public hearing three days earlier.
The fiery August 9 hearing featured several senior members of the Australian Turf Club and Racing NSW. But during evidence provided by Racing NSW chief executive Peter V’landys, independent MLC Mark Latham alleged the racing supremo interfered in stewards’ inquiries by letting favoured trainers off lightly while comprehensively investigating others.
Latham also alleged a “toxic culture … an environment of fear and reprisal” had become prevalent under V’landys.
V’landys categorically denied the accusations, labelling them “complete rubbish” while claiming the committee was accepting “submissions from undesirables and people who are cruel to horses”.
“Let me say again under oath, Mr Latham: I have never, ever, ever interfered in a stewards’ inquiry, ever,” he said at the time.
The inquiry was convened to consider the proposed sale of Rosehill Racecourse but during the three days of public hearings turned in part to an examination of Racing NSW.
The committee said in its report the correspondence from Hinton made “specific reference to allegations” and Racing NSW had “investigated the issues raised with utmost urgency”.
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“The committee is concerned that such an ‘investigation’ could be interpreted as a wrongful attempt by Racing NSW to uncover the identity of confidential submission authors, potentially with the intention of discouraging or intimidating these inquiry participants from giving evidence,” the special report stated.
“If this interpretation is correct, this would have a substantial and detrimental impact on the ability of this committee to conduct its inquiry, and would be a matter of utmost seriousness.”
V’landys told this masthead: “The injustice and hypocrisy on this is mind-boggling. Persons can make spurious allegations that are complete fabrications and when we try to get procedural fairness, we are persecuted without any opportunity to defend ourselves against these fictional allegations.
“Needless to say, any reasonable person could see the bias from some on the committee to satisfy self-interest groups.”
The NSW Legislative Council will consider the referral as early as next week.
A scams bill that protects banks over victims is the biggest scam of all
By Waleed Aly
Let’s move to an opinion piece by Waleed Aly.
When the Albanese government released draft legislation to deal with scams last week, it no doubt hoped victims would rejoice. “Massive fines for banks, telcos and tech giants”; “Compensation for victims”: these were the headlines the policy is intended to generate (and partially did). Then, this week, independent senator David Pocock stood before a press conference at Parliament House flanked by two such victims, who were telling a very different story: one of legislation the banks like more than they do.
That’s because the federal government has refused to follow the British model – which comes into force in a few weeks – in which banks are required to reimburse scam victims in most cases. As it stands in Australia, the situation is almost exactly reversed: banks just about never reimburse scam victims.
A 2022 ASIC report found our big four banks refund only about 4 per cent of losses. They needn’t do more because, for the most part, scam victims are handing over their money willingly, albeit under false pretences.
When a customer asks a bank to transfer money, the bank’s job is to carry out those instructions, not ask questions. Ergo, say the banks, it neither makes sense nor is it justice for them to wear the loss for scams when they are not at fault.
But hereabouts things get a little fuzzy. Take the case of David Sweeney, whose father lost $1 million in an investment scam. His father authorised those payments, so by the banks’ reasoning the fault was his. For five years, the relevant banks refused to accept any responsibility.
Sydney footy fans warned to expect travel delays due to industrial action
By Matt O'Sullivan
Sports fans travelling to Sydney’s Moore Park for the AFL and NRL matches tonight have been warned to expect major disruption to some train lines due to industrial action by rail workers.
However, the NSW government’s decision to make travel free on trains this weekend has resulted in the Rail, Tram and Bus Union lifting some work bans.
It means Sydney Trains can put on shuttle services for fans heading to Olympic Park from Central Station for the Wallabies’ Test match against the All Blacks at Accor Stadium tomorrow afternoon.
Transport for NSW estimates the foregone fare revenue from a weekend of free train travel will amount to between $2.5 and $3.5 million.
Passengers will not have to tap on or tap off for any Sydney Train or Metro services from 11pm tonight until 1am on Monday.
Sydney Trains chief executive Matt Longland said fans heading to the AFL and NRL matches at Moore Park tonight needed to plan ahead and should expect queues on their journey home due to the disruption across the rail network.
“Tomorrow, with the NSW government making Sydney Trains and Metro fares free, we have been able to work with the unions and lock in special event trains for fans heading to sporting and other major events at Sydney Olympic Park,” he said.
The free travel this weekend applies only to trains, and does not extend to other modes of public transport such as buses, ferries and light rail.
However, travel on all public transport is included in match tickets to the AFL preliminary final and NRL semi-final tonight before the fare-free period kicks in across the weekend.
Track work planned for this weekend on the T2 Leppington, T5 Cumberland, T8 Airport and South and T3 lines has also been postponed due to the industrial action.
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ASX hits record high after Wall Street surge; Myer dives
Let’s cross to some business news.
The Australian sharemarket has climbed to another record high, gaining 0.4 per cent today after this week’s large cut to US interest rates fuelled one of the strongest days on Wall Street this year.
The ASX 200 rose as high as 8246.2 in morning trade to a new high but has since pared some of its gains. It was fetching 8222.2 shortly after midday with all sectors in positive territory.
The increase comes after the ASX closed at a record high yesterday, as a cut of 0.5 of a percentage point in interest rates from the world’s most important central bank sparked optimism among investors.
Shares in Myer plunged 11.4 per cent after the company reported net profit after tax dropped to $52.6 million in its latest financial year, down from $71.1 million.
Myer will double down and invest in its languishing sass & bide, Marcs and David Lawrence brands that helped drive profits 26 per cent lower, as the retailer seeks to extract better margins from exclusive brands and drum up stronger customer loyalty.
New chief executive Olivia Wirth, the former Qantas loyalty boss, today unveiled her first set of Myer full-year results, which showed that total sales declined by 2.9 per cent, and she signalled a focus on being more hands-on with those brands.
“They have been managed at arm’s length, and it’s an opportunity for us to rethink and restructure the way these businesses are run,” Wirth told this masthead.
Myer will close 10 of sass & bide’s 14 standalone stores and will instead establish concession stores for the brand.
Good afternoon. I’m Hannah Kennelly and I’ll be anchoring our coverage for the rest of the day.
If you’re just joining us now, here’s what you need to know:
Qantas has cancelled a flight from Adelaide to Sydney and left Port Adelaide fans in limbo ahead of tonight’s preliminary final at the SCG.
It’s day five of the three-week defamation trial launched by ousted Liberal Moira Deeming against state Opposition Leader John Pesutto.
Less than seven weeks before the US presidential election, Vice President Kamala Harris and former president Donald Trump are neck and neck in opinion polls.
A former journalist on Seven’s Spotlight program has launched legal action against the media company in the Federal Court.
Energy retailer Engie has been fined almost $1.7 million for failing to protect the personal information of dozens of family violence victims.
East Timor’s independence commemorated 25 years on
The nation has commemorated the Australians who served in East Timor and helped bring peace to the region.
Australia was part of a group of countries that gathered to restore security after the Timorese took the step to vote for independence from Indonesia in 1999.
A national service was held at the Australian Peacekeeping Memorial in Canberra today to mark the 25th anniversary. Six Australians died during the operations between 1999 and 2013. More than 18,000 Australian troops served in East Timor.
About 5500 defence force personnel were sent as part of the International Force East Timor, the largest deployment of Australian troops since the Vietnam War.
Veterans’ Affairs Minister Matt Keogh said Australians were rightly proud of the role the nation played in the birth of the fledgling nation.
“Even as we celebrate the bonds between our personnel and the resilient Timorese, we must also recognise that it came at a price,” he said.
“We solemnly acknowledge the profound and enduring injuries, both physical and mental, worn by many who serve.
“We pay our respects to the families and the loved ones of those who served.”
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Energy retailer fined $1.7m after leaving family violence victims exposed
An energy retailer has been fined almost $1.7 million for failing to protect the personal information of dozens of family violence victims.
The Essential Services Commission today revealed that Engie, previously known as Simply Energy, paid almost $1,676,104 in fines over breaches of Victorian energy rules.
A financial counsellor in 2023 told the regulator that Engie did not follow rules around family violence, with the commission later gathering evidence to allege the company failed to prevent victims’ personal information from being disclosed without their consent.
The commission found Engie failed to find out customers’ preferred communication method. It also failed to avoid making family violence victims repeatedly disclose or refer to their experience.
The retailer breached family violence rules 113 times between January 2020 and March this year, affecting 65 family violence victims, the commission said.
“Sending a bill or correspondence to an address other than the safe address specified by a customer has the potential to expose account and address information to a perpetrator of family violence,” commission chairperson Gerard Brody said.
“Any increased risk to a family violence affected customer – whether or not physical harm eventuates as a result – can impact these customers experiencing vulnerabilities, causing emotional distress and concern for their safety and the safety of their family.”
The regulator fined Engie almost $1.3 million over family violence-related provisions and more than $380,000 over its reporting obligations.