News

Australia's economy is showing signs of improvement with declining inflation, real wage growth, and increased economic activity. However, challenges remain with deteriorated purchasing power and declining labor productivity, requiring sustained efforts to address these issues for long-term economic stability.

After more than a year on the market, Tasmania's King Island Dairy has been sold by its Canadian owner Saputo to the Australian company King Island Dairy 2 Pty Ltd, ensuring its return to Australian ownership. This outcome safeguards local jobs and addresses the King Island community's previous fears regarding the potential closure of their largest employer.

The Australian government is investing $20 million to expand Baxter Healthcare's production facility in Western Sydney, aiming to increase domestic IV fluid production by 20 million units annually and reduce reliance on imports. This initiative addresses the ongoing national shortage of IV fluids, which has caused frustration among healthcare professionals and impacted patient care.

International Women's Day on March 8th will see global demonstrations demanding equal pay, reproductive rights, and an end to violence against women, as activists fear a rollback of progress made in recent years. The day also celebrates women's achievements and calls for continued action towards gender equality.

The Centers for Medicare and Medicaid Services (CMS) announced Medicare Part B premiums will increase approximately 6%, raising monthly costs from $174.70 in 2024 to $185.00 in 2025. This increase, attributed to projected healthcare costs and higher utilization, surpasses both inflation rates and the Social Security's annual Cost-of-Living Adjustment (COLA).