News

Australia's unemployment rate remained steady at 4.1% in February despite a loss of 52,800 jobs, with the decline attributed to fewer people actively seeking work and a decrease in labor force participation. The Reserve Bank expects the unemployment rate to average 4.2% by mid-year and remain around that level for the next few years.

Australia's gas consumption is falling faster than expected, leading to a revised outlook for the east coast gas market. The AEMO has downgraded its warnings of potential gas shortages in the coming years, citing a combination of factors including milder winter temperatures, higher gas prices, and a growing trend towards electrification.

The Queensland government has redirected $108 million originally allocated to the scrapped Path to Treaty Act towards new projects in remote Indigenous communities, including water infrastructure upgrades and an education project for disengaged youth. This decision has been met with mixed reactions, with some welcoming the investment while others criticize the scrapping of the Path to Treaty Act.

Ben & Jerry's, known for its social activism, is locked in a legal battle with parent company Unilever over its decision to stop selling ice cream in the Israeli-occupied West Bank. The ice cream maker accuses Unilever of silencing its support for Palestinian refugees and unlawfully removing its CEO in retaliation for its social and political activism.

The Australian Securities and Investments Commission (ASIC) has dropped its case against Jenny Hutson, the former chairwoman of Australia's largest publicly traded childcare operator, G8 Education. The charges against Hutson, which included allegations of misusing company funds and providing false information to the market, were withdrawn after a lengthy legal battle.