Huawei plans more cuts to jobs, investment in Australia


3 “Strong Buy” Stocks That Are Flirting With a Bottom

In the investing game, it’s not only about what you buy; it’s about when you buy it. One of the most common pieces of advice thrown around the Street, “buy low” is touted as a tried-and-true tactic.Sure, the strategy seems simple. Stock prices naturally fluctuate on the basis of several factors like earnings results and the macro environment, amongst others, with investors trying to time the market and determine when stocks have hit a bottom. In practice, however, executing on this strategy is no easy task.On top of this, given the volatility that has ruled the markets over the last few weeks, how are investors supposed to gauge when a name is flirting with a bottom? That’s where the Wall Street pros come in.These expert stock pickers have identified three compelling tickers whose current share prices land close to

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Japan’s Inpex, Chevron cut jobs in Australia

a sign on the side of a building: A view of a storage facility for Inpex's offshore Ichthys project in an industrial park in Darwin

A view of a storage facility for Inpex’s offshore Ichthys project in an industrial park in Darwin

By Sonali Paul


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MELBOURNE (Reuters) – Inpex Corp said on Friday it expects to shed jobs at its Ichthys liquefied natural gas (LNG) project in Australia due to the slump in oil prices, but did not say how many would go.

The cuts by Japan’s biggest oil and gas company mark the latest in a swathe of job cuts across the industry in Australia and worldwide in the wake of the coronavirus pandemic, which has decimated fuel demand and battered prices.

“The low oil price environment has accelerated Inpex Australia undertaking a review of its Operations division to support the future Ichthys LNG operating model. The review will impact various roles across the Operations division,” Inpex said in emailed comments.

Inpex operates the $45 billion Ichthys project in

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Australia Unemployment Drops as Half of Jobs Lost Recovered

(Bloomberg) — Australian unemployment unexpectedly fell as fiscal and monetary stimulus helped the labor market withstand Victoria’s renewed lockdown, with more than half of the jobs lost from the pandemic now recovered.

The jobless rate dropped to 6.8% in August from 7.5% a month earlier versus a median estimate of an increase to 7.7%, data from the statistics bureau showed Thursday in Sydney. Employment surged by 111,000 in August, with all states and territories outside of Victoria gaining, and completely wrong-footing analyst estimates of 35,000 drop.

The data’s strength was surprising because the period spanned Melbourne’s shift to Stage 4 restrictions and a curfew to contain a rapidly spreading outbreak, as well as nervousness in neighboring New South Wales that it was headed down the same path. The labor market’s ability to absorb this weakness and maintain its recovery is testament to the government’s signature JobKeeper employment subsidy — that

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Australia Eyes Trade With India as China Spat Exposes Dependence

(Bloomberg) —

Australia’s escalating tensions with Beijing have shown up its reliance on China trade and propelled a push to increase links with Asia’s other giant economy, India.

New enrollments of international students from India expanded 32% in 2019 from a year earlier and it’s the fastest growing major market for Australian services. India has overtaken China as the largest source of net migration to Australia, and its diaspora is the third largest Down Under, just behind China and the U.K.

a screenshot of a cell phone: Shifted Growth Source

© Bloomberg
Shifted Growth Source

India’s swelling population — set to overtake China’s in 2027 — suggests ongoing opportunities for Australia to diversify a trade portfolio that currently makes it the developed world’s most China-dependent economy. The need to switch things up has accelerated as ties sank to their lowest ebb in 30 years after Canberra’s calls for an international inquiry into Covid-19’s origins was taken by Beijing as

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Australia launches industry skills programme

by Jon Grevatt

The Australian government has launched a grants scheme to support skills development in the defence industry, the country’s Department of Defence (DoD) has announced.

The ‘Skilling Australia’s Defence Industry (SADI) Grants’ programme is aimed at supporting small- and medium-sized enterprises (SMEs), said the DoD in Canberra on 4 September.

The statement said that such firms can apply through the programme for grants worth up to AUD500,000 (USD363,000) to support skills advancement. Over the next three years the SADI Grant programme will provide funding of AUD39 million, the government added, with AUD17 million per year available in 2020–21 and 2021–22.

Australia has launched an initiative to boost its skills in areas including naval shipbuilding to support projects such as the construction of BAE Systems Hunter-class frigates (pictured). (Royal Australian Navy)

Activities funded through the SADI Grants programme include support for technical and trade skills training,

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White House OSTP Holds Joint Commission Meeting with Australia on Science and Frontier Technologies

Aug. 12, 2020 — The Director of the White House Office of Science and Technology Policy (OSTP) Dr. Kelvin Droegemeier and U.S. Chief Technology Officer Michael Kratsios on Tuesday led the American delegation for the Joint Commission Meeting (JCM) on Science and Frontier Technologies Dialogue with Australia to further strengthen our research relationship. The Honorable Karen Andrews, Minister for Innovation, Science and Technology, led the Australian delegation.

The JCM included discussions and next steps in advancing partnerships in areas such as artificial intelligence (AI), quantum information science (QIS), oceans exploration and mapping, and the integrity of the international research enterprise. As part of this dialogue, the United States welcomed Australia’s National Computing Infrastructure and Pawsey Super Computing Centre to the COVID-19 High Performance Computing (HPC) Consortium. The Consortium provides COVID-19 researchers worldwide with access to the world’s most powerful HPC resources to accelerate the fight against the virus.

“Cooperation between

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