Melbourne d Brisbane by 26 points
Melbourne have been turning a habit for clutching defeat from the jaws of victory into an art. Last year they gave up a finals berth in the final round; last week they fell a misdirected Max Gawn kick short of Adelaide in the last 30 seconds. This week, they gave up a seven-goal lead to the Brisbane Lions but this time, they fell over the line. Pressure play: Jesse Hogan attempts to get a handball away. For Demons fans, it was a heart-in-mouth game, and one they would have desperately not wanted to give up. They were the better team. But as the Lions came home with a wet sail and the crowd at their backs, they lost composure and, seemingly, belief: it was hard not to think those near misses preyed on their minds. Between the seven-minute mark of the third quarter and the 17-minute mark of the last, the Demons didnt kick a goal. The Lions drew level with Allen Christensens third, and had the momentum to roll over the top of the visitors. Crunch time: Lion Charlie Cameron (right) and Demon Neville Jetta collide.Photo: AAP But critical mistakes cost them, and the Demons rallied to pull away in the last 10 minutes.Two players were instrumental. The red and the blue can rejoice, for Jesse Hogan is back. The young forward could hardly have had a more difficult year than 2017, beset with family tragedy, serious illness and injury. Last week, he kicked three goals and was among his teams best. Last night he was dominant, setting up Melbournes victory with three goals from 14 possessions and seven marks in the first half, two more final quarter goals sealing the win. Like all matchwinners, Hogan has the ability to lift when the moment demands and when it counted, he was the man. The other was Jeff Garlett, the most underrated small forward in the competition. As usual, he needed only a couple of half-chances to have an impact, kicking two and giving away another to Nathan Jones in the first half. Like Hogan, he kicked two more in the last when his side needed a spark. Hogan was on from the start. He had a handful of important early touches before kicking his sides first in the seventh minute from an imperious mark. The next two were easier pickings, Jake Melksham picking him out with a perfect kick to advantage and the second coming over the top. The Demons had more than a bit of help, though. Just as they did last week against St Kilda, the Lions were aggressive to the point of recklessness, blazing away when they needed to slow the game down. The result was a glut of turnovers, particularly entering attack, leaving them stranded as the ball rebounded the other way. Alex Witherden, normally one of the Lions best kicks, was an early offender and one of his errors ended with a goal to impressive young forward Bayley Fritsch. And while they gave themselves a chance with a strong third quarter, drawing within four goals, they would have been closer if theyd taken a number of easy chances. There were bright spots. Crows import Charlie Cameron was his sides best player and barely wasted a touch. Cedric Cox kicked a pearl of a goal in the third quarter off a step from 50 and Christensen worked very hard to play his best game for some time after an injury-blighted 2017.But Melbourne were a stronger unit, beating the Lions inside for contested ball, with Dayne Zorko and Dayne Beams both shaded by their midfield counterparts. Nathan Jones was his usual bullish self and Clayton Oliver was again a magnet with 34 touches. Hogan and Garlett, though, were the double act that got them home. Brisbane Lions 0.3 2.6 5.11 10.14 (74) Melbourne 5.4 8.7 9.11 14.16 (100) GOALS -Brisbane Lions: Cameron 3 Christensen 3 Bewick Cox Zorko Hipwood. Melbourne: Hogan 5 Garlett 4 Jones 2 Fritsch 2 Neal-Bullen. BEST -Brisbane Lions: Cameron Christensen Cox Taylor McStay Zorko. Melbourne: Hogan, Garlett Jones Oliver Tyson Petracca. CROWD:17,141 at Cazaly Stadium, Cairns. VOTES 8 J Hogan (Melb) 7 J Garlett (Melb) 7 N Jones (Melb) 7 C Cameron (BL) 7 C Oliver (Melb) http://canberratimes.com.au/afl/afl-news/demons-hold-their-nerve-to-vanquish-resurgent-lions-20180331-p4z799.html
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When is a restaurant like an airline? When it starts charging customers to reserve the nice seats.
Mosman restaurant Ormeggio at The Spit is guaranteeing diners a window table with water views for an additional $20 per person, to be paid at the time of booking. "We receive a lot of requests for window tables and the restaurant manager prioritises these based on a first-in-first-served basis," said Anna Pavoni, who co-owns the two-hatted Italian restaurant with her husband, chef Alessandro Pavoni. "A lot of customers were saying 'we will only confirm if you can guarantee the window'. Now we are able to do it." Luxury hotel restaurants will occasionally charge a fee to guarantee a window table on Valentine's Day, however, it is believed this is the first time there has been an optional window-seat surcharge for regular service in a Sydney restaurant. The industry is watching the venture with interest, but some leading lights are dismissive. "We see tables as a gift and a right, not a privilege," said Jeremy Courmadias, general manager of The Fink Group, which counts Sydney Harbour-facing restaurants Bennelong and Quay in its portfolio. "We allocate our tables on a first-come-first-serve basis, while also rewarding our regular customers' loyalty with the best possible table we can provide." More than 400 diners have paid to guarantee a window table at Ormeggio since the optional surcharge was introduced in July. Ms Pavoni said "a lot" of her friends in the restaurant industry are watching the surcharge implementation with interest. "I think more [restaurants] should do it," she said. "Look at things that are now considered normal practice in the restaurant industry such as taking credit card details to confirm a reservation, or group-booking service charges. Things that used to cause a reaction and are now considered normal." Jonah's is famous for its soaring views over Whale Beach and the restaurant's manager, Andrew Archibald, said he understands why a venue may charge to guarantee premium seating. "It allows restaurants to manage the guests expectations of views and seating arrangements prior to their arrival. Will we ever change our mind on charging for a particular seat? Never say never." Ms Pavoni said most people were pleased that they could guarantee a window table for a special occasion at Ormeggio, where an 11-course tasting menu costs $196 before drinks. "The odd person here and there is confused by it, but we liken it to booking an ocean view hotel room or front row seats at a concert." Mr Courmadias said charging to guarantee a window table was "absolutely not" an initiative Fink Group will introduce at Quay or any of its other restaurants. "I know if you go to a concert and you want better seats you pay more for them, and airlines are doing it too, but I don't believe it aligns with our core philosophies of hospitality," he said. "You shouldn't have to pay for a better experience." http://canberratimes.com.au/lifestyle/health-and-wellbeing/would-you-pay-extra-for-the-window-seats-in-a-restaurant-20180330-p4z73b.html Cricket Australia chief executive James Sutherland is remaining defiant following the biggest scandal of his 17-year tenure at the top of the game, vowing not to resign from his position even though coach Darren Lehmann has already stepped down.
Sutherland spoke briefly to reporters in Johannesburg on Thursday, during which he was full of praise for the now former coach. Play Video Don't Play Up Next The Fourth Test evenly poised after Day One Play Video Don't Play Video duration01:30 More Sports HQ Videos Previous slide Next slide Cricket scandal: Karl Stefanovic wants more resignations As the ball-tampering scandal continues, The Today Show host is calling for Cricket Australia CEO James Sutherland to resign. He was also supportive of Steve Smith, David Warner and Cameron Bancroft, who received bans over their roles in the ball-tampering scandal during the third Test against South Africa in Cape Town. However, he conceded that he was yet to watch Smith's emotional press conference at Sydney Airport on his return to Australia on Thursday night. "I haven't seen Steve Smith's press conference but I have had a lot of messages and will watch it ... I know how sad and remorseful he is. Our hearts go out to the three suspended players right now." The revelation raised eyebrows, given Sutherland's role in the game and how powerful Smith's words had been. To all of my teammates, to fans of cricket all over the world and all Australians who are disappointed and angry, Im sorry, Smith said, while holding back tears. Sutherland admitted that "it's fair to say it's been most difficult for those three players ... they're obviously in a very difficult and sad place right now", and said that his own job was not in question. Going nowhere: James Sutherland.Photo: AP "I'm absolutely committed to my job, my employment and tenure is a matter for the board of Cricket Australia - but I'm not resigning, and, in fact, what's happened over the last few days has only strengthened my resolve to ensure Australian cricket and the Australian cricket team gets back on track and gets back in a place where it has not only the full respect but the pride of the Australian community." Lehmann's resignation as coach came as little surprise to many fans, even though he was cleared of wrongdoing in the ball tampering scandal that has torn the team apart, and plunged the tour of South Africa into chaos. Sutherland praised the 48-year-old, who played 27 Tests for Australia in 1990s and 2000s before becoming coach in 2013. "I have huge regard and respect for the time that he's been coach of the Australian men's team. I want to take this opportunity to thank him." TV host Karl Stefanovic also weighed in on Friday morning, and called for Sutherland's head. "Lets move on from the players - but for James Sutherland to have not even seen [Smith's press conference]? Time to go. My thoughts, just mine," he said onToday. http://canberratimes.com.au/sport/cricket/sutherland-vows-not-to-resign-hasn-t-watched-smith-s-press-conference-20180329-p4z71r.html An appeals panel on Thursday vacated the conviction of Adnan Syed, whose case was chronicled in the first season of the hit podcast Serial, and ruled that he should be granted a new trial on all charges.
Syed was convicted in 2000 of the first-degree murder and kidnapping of his former girlfriend, Hae Min Lee. Play Video Don't Play Up Next Trump's tweets on Amazon are 'personal' Play Video Don't Play Video duration00:42 More World News Videos Previous slide Next slide 'Serial' podcast's Adnan gets new trial After spending 19 years in prison for murder, Adnan Syed whose case was featured in the popular 'Serial' podcast is getting a retrial. In the ruling, the Maryland Court of Special Appeals said he had received ineffective legal counsel at his trial because his original lawyer had failed to call a witness whose testimony, if believed, "would have made it impossible for Syed to have murdered Hae." "Accordingly, Syed's murder conviction must be vacated, and because Syed's convictions for kidnapping, robbery, and false imprisonment are predicated on his commission of Hae's murder, these convictions must be vacated as well," the panel wrote. "The instant case will be remanded for a new trial on all charges against Syed." Adnan Syed.Photo: Serial Syed's new lawyer, Justin Brown, said both he and Syed were "thrilled" with the panel's decision. At a news conference, he said Syed "asked me to convey his deep gratitude and thanks from the bottom of his heart to all those who have supported him and believed in him." The accounts by the new witness, and other evidence seeming to cast doubt on the conviction, were the focus of Serial, which was a wildly successful podcast in 2014 and popularized the format for a general audience. The 12-episode series featured Sarah Koenig, a former producer with the weekly public radio program This American Life, telling the story of the killing, investigation and trial in a conversational narrative with interviews. It was downloaded more than 175 million times and won a Peabody Award. Sarah Koenig, the voice behind the Serial podcast. Syed's new lawyer, Justin Brown, said he had been unable to locate the witness, Asia McClain, until the Serialteam began investigating Syed's story. He said the podcast had been "enormously helpful" in pursuing justice for his client. "Serialkind of shook the trees, and that enabled us to get in contact with Asia McClain and bring her to Baltimore for the post conviction hearing two years ago," Brown said at a news conference Thursday. "Serialhas also helped build this groundswell of support for us and for Adnan and for the case, and that has fueled these efforts and helped us to fight on as we have." Adnan Syed walks into the court in Baltimore before a hearing in 2017. Photo: AP McClain sent Syed two letters after he was arrested in 1999 stating that she had seen him at Woodlawn Public Library at the time that Lee was killed. Syed asked his lawyer, Maria Cristina Gutierrez, to contact McClain. She said she had "and nothing had come of it," the panel said. After Syed was convicted, it was determined that Gutierrez had not in fact contacted McClain. A friend of Syed's, a law student named Rabia Chaudry, independently reached out to McClain, who signed an affidavit saying that she had seen Syed at the Woodlawn Public Library at the time that Lee was killed. Gutierrez's failure to interview or contact McClain formed a key part of Syed's argument that she had been negligent in her defense of him. Gutierrez died in 2004. After the podcast drew attention to the case, Syed was granted a retrial in 2016 by Judge Martin P. Welch of the Baltimore City Circuit Court. He has served 16 years of a life sentence after being convicted in 2000, but has maintained his innocence for almost two decades. Lee was last seen on January 13, 1999, as she was leaving school. A few weeks later, a passer-by found her body partially buried in a shallow grave in a park in West Baltimore, according to The Baltimore Sun. The Sun said Syed had told the police that he and Lee dated as high school students but kept their relationship secret because of cultural differences between their families. They broke up in 1998 and Lee later began dating another man. Lee's mother, Youn Wha Kim, took the stand at Syed's sentencing hearing in 2000, telling the court that though she wanted to, she did not think she could bring herself to forgive Syed for her daughter's death, The Sun reported at the time. "When I die, my daughter will die with me," she told the court. "As long as I live, my daughter is buried in my heart." http://canberratimes.com.au/entertainment/tv-and-radio/adnan-syed-subject-of-serial-podcast-granted-a-new-trial-20180329-p4z729.html Washington:On a semiarid Patagonian landscape 85 million years ago, a formidable meat-eater called Tratayenia rosalesi reigned as the apex predator, part of an enigmatic dinosaur group that menaced South America and Australia for tens of millions of years.
Scientists on Wednesday described Tratayenia, a two-legged beast up to about 9 meters long, based on fossils unearthed in Argentina's Neuquen province, adding another impressive dinosaur to the list of those that inhabited Patagonia during the Cretaceous Period. The new predatory dinosaur Tratayenia rosalesi crosses a stream in what is now Patagonia, Argentina roughly 85 million years ago, in this illustrationby Andrew McAfee, Carnegie Museum of Natural History.Photo: Andrew McAfee It was a member of a group called megaraptorids that lived in the Southern Hemisphere from about 105 to 85 million years ago. The group was recognised by paleontologists only in the past few years, and all of its members - including Tratayenia - are known only from incomplete skeletons. "Megaraptorids, although still mysterious, seem to have been a pretty badass bunch of predatory dinosaurs," said paleontologist Matt Lamanna of the Carnegie Museum of Natural History in Pittsburgh, Pensylvannia, US. Study leader Juan Porfiri ,left, and students excavate vertebrae of the new predatory dinosaur Tratayenia rosalesi at the Tratayen site in Patagonia. Photo: Juan Porfiri/Universidad Nacional del Comahue "Using the remains of different species, including Tratayenia, we can make something like a 'police composite' of a megaraptorid skeleton," Lamanna added. "Megaraptorids had long, low skulls that were crammed with lots of small but sharp and serrated teeth, bones that were riddled with air cavities, and powerful forelimbs that were tipped with absolutely ginormous, wickedly hooked claws on the innermost two fingers." For Tratayenia, the researchers found about half of the back vertebrae, all its hip vertebrae, some ribs and a fair bit of the pelvis, but none of the skull, limbs or tail. Patagonia boasted some of the most impressive dinosaurs ever found, including the giant predator Giganotosaurus and the immense long-necked, four-legged plant-eaters Patagotitan, Argentinosaurus and Dreadnoughtus. You will now receive updates from Breaking News Alert Breaking News Alert Get the latest news and updates emailed straight to your inbox. "Tratayenia was the largest-known predator about 85 million years ago in Patagonia and perhaps one of the last in its group," said paleontologist Juan Porfiri of the National University of Comahue's Museum of Natural Sciences in Argentina. A speculative reconstruction of the Tratayenia rosalesi showing the bones found. Photo: Supplied It lived in an ecosystem that included smaller carnivorous dinosaurs including Viavenator, large herbivores such as Traukutitan, snakes similar to boas, crocs, turtles and birds, Porfiri added. The best known member of Tratayenia's group is Megaraptor, which lived slightly earlier in Patagonia and wielded 40-centimetre claws. "Megaraptorids certainly would have been terrifying to encounter in life: big, heavily armed and powerful, but also probably lighter on their feet than really giant meat-eaters such as Giganotosaurus or T-rex," Lamanna said. The research was published in the journal Cretaceous Research. Reuters http://canberratimes.com.au/world/fossils-of-badass-argentinian-meat-eating-dinosaur-unearthed-20180329-p4z6vf.html The seven protesters who superglued their hands to a balustrade in Parliament House were acquitted on Thursday of intentionally damaging Commonwealth property.
Supporters in the public gallery greeted the verdicts with sighs of relief, and some wiped tears from their eyes. Once outside court, members of the group celebrated with hugsand cries of, "yes". One of the protester's hands after it was pulled from the balustrade. Photo: Andrew Meares [embedded content] The jury began deliberating about 9am Thursday and reached the verdict shortly after. The superglue seven were acquitted on Thursday of damaging Commonwealth property.Photo: Alexandra Back On November 30, 2016, Timothy Buchanan, Philip Evans, Hannah Grant, Samantha Hawker, Chamomilla Hill, Sally Hunter and Jason Ray joined a larger group in the House of Representatives to stage a protest over Australia's offshore detention camps. Question Time was forced to a halt as security officers removed the protesters one by one. During the two day trial, the jury saw surveillance footage from inside the House of Representatives. The footage shows staff forcibly lifting one woman's hand free from the leather balustrade. Staff then brought out hand sanitiser gel to dissolve the glue bonding the remaining six protester's hands to the leather. You will now receive updates from AM & PM Update Newsletter AM & PM Update Newsletter Get the latest news and updates emailed straight to your inbox. The seven were later charged with the offence of intentionally damaging Commonwealth property, a crime that carries a maximum penalty of 10 years' jail. They pleaded not guilty. The seven were joined by a large group of supporters outside court.Photo: Alexandra Back The trial heard that the cost of the damage was $1295, and it took staff more than 18 hours labour to refurbish the leather. The seven, who were represented by Tim Sharman of Sharman Robertson Solicitors,maintained that they never intended to cause any damage by their protest, and had sought advice from a paramedic who said acetone nail polish remover would dissolve the glue without harming person or property. The seven addressed the waiting media after the verdicts.Photo: Alexandra Back Speaking outside court after the verdicts, Mr Evans said the group's intention was always to draw attention to the suffering of refugees. "We're willing to do whatever it takes. We're willing to stand up for the rights of refugees, and we will not stop until we see an end to this torturous regime." Mr Ray said the group were on Thursday "rightfully found not guilty of intentionally damaging Commonwealth property". "We charge that the real damage is being caused by politicians like Peter Dutton, who are intentionally destroying the lives of those guilty of nothing more than searching for a safe home," he said. Ms Hunter said that while the group felt positive about the verdicts, they remained concerned about Australia's ongoing treatment of refugees. She too said they would continue to protest. Asked about the possibility of jail if they were found guilty, Mr Evans said, "We took action with full knowledge there may be repercussions. But we also know that the repercussions dealt to us pale in comparison to the treatment of refugees." http://canberratimes.com.au/act-news/superglue-seven-found-not-guilty-after-question-time-protest-20180328-h0y3u7.html 3/28/2018 0 Comments WNBL: Canberra Capitals star Ezi Magbegor signs with rival as Kelsey Griffin begins journeyThe Canberra Capitals have been hit with a major blow in the WNBL off-season, losing rising star Ezi Magbegor to rivals the Melbourne Boomers.
But the Capitals are poised to make moves of their own as early as Thursday, with the seven-time WNBL champions expected to unveil two signings to bolster their lean roster. Ezi Magbegor is set to join the Melbourne Boomers.Photo: Sitthixay Ditthavong The Capitals thought emerging Australian Opal Magbegor was set to move her career to the United States college system after a standout season in Canberra. Instead, she will link with Capitals legend Lauren Jackson at the Boomers on a three-year deal to stay in Melbourne. The Capitals are trying to rebuild their roster around recruits Kelsey Griffin and Leilani Mitchell, while Lauren Scherf is also returning after last season. Australian University Games representative Keely Froling is expected to join them this week as coach Paul Gorisscontinues discussions with several players. Griffin's ambition to turn the Canberra Capitals intomore than "one-hit wonders" is edging closer to reality with the club set to announce two more signings. The Canberra Capitals have shipped in a new recruit, Kelsey Griffin. photo by Karleen Minney.Photo: karleen minney Griffin is on board for two seasons while Scherf and Mitchell's deals will expire at the end of the season as the Capitals look to snap a seven-year finals drought. "As far as I understand, they're not only trying to find talented players but the right people," Griffin said. "We're trying to build something special that has a lot to do with the kind of character that we're recruiting. That's something I'm really excited about, to not be one-hit wonders but to really go about building something that hopefully will turn into something special. "Sometimes those things take time, and you might as well sit down and do it right instead of rushing the process." Griffin has been in rebuilding programs before - in fact she relishes it. When she joined the Nebraska Cornhuskers college program in 2005 they were battling to win a game. She left as an All-American star with the Cornhuskerssetting school records and eventually retiring her jersey. That's why a part of the former No. 3 WNBA draft pick will always be in the United States - but she will soon permanently relocate to Canberra from Bendigo, where she spent six seasons with the Spirit. "Part of my life is here, part of my life is still in Bendigo, and part of my life is going to be over in America," Griffin said. "I'm a bit all over the shop but it's exciting. I'm excited about the move and I think there has been something on every single weekend since I've been here which is pretty exciting, compared to coming from Bendigo where it's a bit sleepier." Griffin was at Belconnen Basketball Stadium last week to take part in Basketball ACT's 'Mums Who Ball' program, which invites women to play a drop-in social game every Tuesday, with a Friday program set to be launched in the wake of the concept's success. "One of the things that I love about Australia is all of these different groups that get together and play no matter what age you're at," Griffin said. "In America if you don't go pro, it's hard to find that niche where you can keep being active and it's awesome to find things like that in Canberra. I'm excited to discover more stuff like that as part of my move here. "I was asked if I have any kids and I was like 'no, I've got fur babies and I don't know if that qualifies me to get to join in with the mums'. A great group of people here to be active and have a laugh, so it's fun." Meanwhile, junior duo Emma Rowcliffe and Issie Bourne have been picked in the Australian under-19s squad as they continue their rise through the ranks. http://canberratimes.com.au/sport/act-sport/wnbl-canberra-capitals-star-ezi-magbegor-signs-with-rival-as-kelsey-griffin-begins-journey-20180319-h0xp5c.html 3/27/2018 0 Comments Markets Live: ASX retakes 5,800That's it for Markets Live today.
Thanks for reading and for your comments. See you all again tomorrow from 9am. Australian shares bounced off five-month lows as worries about a global trade war retreated, with miners propelling the index higher. The S&P/ASX 200 index rose 41 points, or 0.7 per cent, to 5832 while the All Ordinaries climbed 42 points, or 0.7 per cent, to 5943. The Australian dollar reached US77.34. The advance for Australian stocks followed sharp gains in Wall Street overnight as investors latched onto news that the US is seeking to negotiate a trade resolution with China rather than impose the $50 billion of tariffs that it announced late last week. "It looks scary and is generating a lot of noise, but an all-out trade war will likely be avoided," said Shane Oliver, head of investment strategy at AMP Capital. "A negotiated solution with China looks is the more likely outcome. "That said, trade is likely to be an ongoing issue causing share market volatility in the run up to the US mid-term elections with Trump again referring to more tariffs and markets at times fearing the worst. So, while a growth threatening trade war is unlikely, we won't see trade peace either." Miners, which are leveraged to global growth, gained in Australian trading with the sector accounting for 12 points of the benchmark's advance. Of the majors, BHP climbed 1.4 per cent to $28.99 and Rio Tinto rose 1.2 per cent to $74.16. South32 was another strong gainer, advancing 3.5 per cent to $3.28. Of the smaller metal extractors, Whitehaven jumped 4.7 per cent to $4.46 after a broker upgrade, while Western Areas advanced 9.3 per cent to $3.29, and Independence Group rose 5.4 per cent to $4.86. Not all miners joined in the advance, however, with Newcrest Mining taking a breather after three sessions of strong gains to move down 1.7 per cent to $19.82 and Fortescue losing 0.7 per cent to $4.58 after telling investors that it has downgraded its iron ore price expectations for fiscal 2018. Other notable gainers included Bluescope, up 4.3 per cent at $15.18, and A2 Milk, up 4.8 per cent at $13.04. Broker changes also helped to lift IOOF shares, with the wealth manager up 2.4 per cent to $10.21 after it was upgraded to buy from neutral at UBS. Acquisitions were also a driver for a handful of companies, with Apollo Tourism up 1.6 per cent at $1.60 after saying it will buy UK and Ireland motorhome operator Camperco for $8.2 million to expand its footprint in Europe. OZ Minerals shares rose 1.1 per cent to $9.10 after it said it will buy ASX-listed copper junior Avanco Resources in a deal that values the Brazilian focused company at $444 million Avanco shares soared 101 per cent to 15c. Nickel prices have tracked lower over the past month and CBA strategists saidthat nickel could face downside risks this year due to a surplusin the nickel ore market. Last year, Indonesia's government approved 28.4 megatons of low grade nickel ore exports which CBA says will see a significant amount of nickel added to the market. Concerns aboutChinese commodity demand have also weighed on the metal. CBA says that prices have still held onto gains in the hope that an increasing demand for lithium ion batteries will increase the consumption of nickel. It added that nickel prices will be driven by developments in stainless steel, with that market accounting for two-thirds of nickel consumption. Three month LME nickel trade up $5 at $12955 for its first gain in three sessions. Australia would not be immune from a global trade war, particularly if China were involved according to Macquarie's economics team. A US-China trade war would weigh on domestic equities and the Australian dollar, even if Australia wasn't directly involved, they said. Still, the economists believe that aglobal trade war represents only a tail-risk scenario at this stage with their China economist believing the most likely outcome would beconcessions fromChina. The economists say that if China confines their retaliation to only agricultural and manufacturing goods, it would show it had no intention of escalating the trade war. Their China economist believes that country's policy makers have made it clear they are not ready for a trade war, warning of the potential harm to the global economy. Macquarie did concede that they had little transparency on the policy response function from the Chinese but that their base case assumption was that the current measures were unlikely to prove particularly disruptive. The analysts noted that the tariffs could have a positive effect on the US economy as a reduction in the US trade deficit tends to increase domestic spending. They said that Trump's strong protectionist measures reflected a global economic and political thinking towards more insular and nationalistic policies. Three-month copper on the London Metal Exchange rose by 1.3 per cent to $US6,686 a tonne, after closing down 0.9 per cent to a low of $6,532 on Monday, its weakest since early December. On Monday, copper was weighed down by a sharp rise in stockpiles and simmering concerns over the outlook for US-China trade relations. However, reports that talks have begun to improve US access to Chinese markets helped to allay fears over a potential trade war. "This was more fallout from the big equity decline we saw on Friday, and then this morning we had a 35,000 tonne increase in stocks," said Societe Generale analyst Robin Bhar. "I think the worst is over for copper and we should recoup some of those losses ... later this week. (But) that obviously depends on some of the rhetoric that follows what happened on Friday." - AAP Bitcoin rebounded back above the $8,000 level in Asian trading, hours after dipping below that threshold for the second time in a week as Twitter joined other social media platforms in banning advertisements for initial coin offerings and token sales on its service. The largest cryptocurrency rose as much as 4.8 per cent and was trading at $8,193 at 8:59 a.m. in Hong Kong, reversing an overnight decline that took Bitcoin down to about $7,850 according to consolidated Bloomberg pricing. Rival coins Ripple, Ether and Litecoin also advanced. Bitcoin remains down 22 per cent in March. Cboe Global Markets, which was the first U.S. exchange to list Bitcoin futures last year, continues to have plans to introduce more cryptocurrency-related products. The exchange operator prodded US securities regulators on Monday to consider approving crypto exchange-traded funds in a letter to the Securities and Exchange Commission. Since Bitcoin reached a peak of almost $20,000 in mid-December at the height of the cryptocurrency frenzy, the digital currency has lost more than half of its value as investors weigh the future of the emerging space amid intensifying scrutiny from global regulators. - Bloomberg Stocks in Asia followed their US counterparts higher on signs that an escalation of trade tensions was beginning to ease. The yen slipped and the South Korean won rallied as news emerged of a surprise visit to China by North Korea's leader. The won was the best performer among Asian emerging-market currencies as Kim Jong Un was said to be making an unannounced visit to Beijing, his first known trip outside North Korea since taking power in 2011. The yen nudged lower as risk-on sentiment returned. The resurgence in risk appetite emerged as the Trump administration was said to be urging China to lower tariffs on cars and open its market to US financial services as part of talks to resolve a rise in trade tensions. - Bloomberg Profits for China's industrial firms picked up pace in the first two months of the year from December but still fell short of average growth seen in the whole of 2017, backing expectations that growth in the world's second-largest economy is set to cool. Industrial profits rose 16.1 per cent year-on-year to 968.9 billion yuan ($154.57 billion) in the first two months of the year, the National Bureau of Statistics (NBS) said on its website on Tuesday. The pace of earnings growth picked up from a 10.8 per cent increase in December. It surged 21.0 per cent for 2017 as a whole, the fastest pace since 2011, as a construction boom boosted prices of building materials from steel bars to copper pipes and cement. - Reuters Apollo Tourism & Leisure shares jumped 4.6 per cent today. The campervans and motorhomes company is targeting Grey Nomads and backpackers in the UK and Ireland after a buyout of Camperco, which delivers a fleet of 200 vehicles and a springboard for European expansion. Apollo chief executive Luke Trouchet said that Camperco was one of the largest independent motorhome rental operators in the UK and Ireland, and had been acquired for $8.2 million on a multiple of 7.5 times forecast earnings for calendar 2018. Camperco operates the Bunk Campers brand which has outlets in Belfast, Dublin, Edinburgh, Glasgow, London, Birmingham and Leeds. It has 200 campervans and recreational vehicles in its fleet. The acquisition delivers a physical presence in the UK and Ireland for the $270 million Apollo for the first time, with Mr Trouchet saying it was a further step in the strategy of becoming a global player. "This acquisition will further strengthen our position as a global operator of RVs and allow further expansion into Europe," Mr Trouchet said. Mr Trouchet said the UK was a big market for caravans and motorhomes, with more than one million on the roads, and the tourism market in Ireland was expanding. Simon Evans reports IOOF Holdings wasupgraded from neutral to buy atUBS with the bank's analystsciting stronger profit potential from its newly-acquired ANZ Wealth division for the move. The analysts said that IOOF'scurrent price reflectsan "overly bearish" outlook on net fund flows and fee pressures. "Our deep dive into ANZ Wealth suggests better earnings prospects ahead," the analysts said. They seerepricing opportunities which they believe could lift groupunderlying profit after tax by7 per cent and reduce product mix shift fee pressures by 50 basis points per annum. They noted IOOF shares fell 11 per cent and suffered a price to earnings derating of more than 30 per cent after it announced the acquisition of ANZ Wealth operations in October last year. "With our 13 per cent, 3-year earnings per share CAGR outlook leaving IOOF trading at an unwarranted 12 per cent discount to the market by 2021and a 6.4 per cent average dividend yield over the interim, we upgrade to buy," the analysts said. UBS lifted its price target for the firm by 7 per cent to $11.50, from a previous target of $10.75.IOOF shares were up 2.9 per cent at $10.26. OZ Minerals shares dipped 1 per cent after shareholders eyed its offer for ASX-listed copper junior Avanco Resources in a deal that values the Brazilian focused company at $444 million. The takeover comes almost four years after BlackRock's top mining fund manager, Evy Hambro, described Avanco as one of his top picks in the world of junior miners. Avanco shareholders have been offered 8.5 per share, plus 0.009 OZ Minerals shares for every Avanco share they own. Avanco shares have averaged 9.5 over the past 12 months, but have been below 9 since January 19. The stock more than doubled to 15.5 in morning trade on Tuesday. Peter Ker reports Australian shares are holding onto early gains sparked by a retreat in global trade war worries, with miners and financials supporting the index. The S&P/ASX 200 index climbed 34 points, or 0.6 per cent, to 5824 while the All Ordinaries rose by the same amount to 5935 and the Australian dollar traded at US77.48. The materials sector was the best performing sector, adding 7.5 points to the ASX. Financials added 7.3 points. Heavyweight miners BHP and Rio TInto moved higher, with BHP up 0.6 per cent and Rio Tinto up 0.9 per cent. South32 climbed 3 per cent. There were some steeper gains among the smaller extractors, with Western Areas up 9 per cent, Whitehaven Coal up 5.5 per cent, and Independence Group up 5 per cent. Other notable gainers included A2, up 4.7 per cent, Bluescope Steel, up 3.2 per cent, and Boral, also up 3.2 per cent. On the downside Fortescue Metals dropped 2.7 per cent after cutting its iron ore price expectations, while Newcrest Mining dropped 1.3 per cent, paring gains made over the past three sessions. Whitehaven Coal was upgraded to overweight from equalweight at Morgan Stanley with the broker citing an uplift in coal price forecasts coupled with a strong balance sheet for the change. The broker noted that Whitehaven shares have had a strong run over the past twelve months and said that it believes this rally was driven by a de-risking of the balance sheet. "At current levels, given the company's cash flows and future growth potential, there is significant valuation underpinning," the broker said. It noted that its base case valuation of $6.25 a share represents upside of 46 per cent.Multiples look compelling versus history, the broker added, and Whitehaven "looks cheap versus its global thermal coal peers." Morgan Stanley lifted its price targe on the stock to $5.70 a share, from a previous target of $5.05. It added that Whitehaven is generating strong free cash flow and expects net cash by the end of 2018. "This positions Whitehaven for shareholder returns or growth," the broker added. Whitehaven shares were up 5.5 per cent at $4.48 on Tuesday. Fortescue Metals Group has downgraded its expectations around the iron ore prices it will receive in fiscal 2018, a sign that pricing dynamics have not recovered in the way the company expected as recently as last month. China's growing preference for high grade iron ore saw Fortescue receive a bigger discount to the benchmark index price in the six months to December 31, with the miner receiving 68 per cent of the index price on average during the period. Fortescue insisted in February that the trend would reverse in the six months to June 30, 2018, and forecast the discount on its product would average between 70 per cent and 75 per cent over fiscal 2018. But rather than improving, the trend appears to have gotten worse. Fortescue said on Tuesday its full-year average discount was likely to 65 per cent of the benchmark index. The company blamed recent fears of a global trade war, and a slower than expected resolution of winter shutdowns in China for the worse-than-expected price realisations. Shares were down 1.8 per cent. Labor has confirmed it will repeal the government's company tax cuts if passed by the Senate this week or some other time before the election. With the government still trying to secure the final two Senate crossbench votes to pass legislation for the remainder of the package, Oppositionleader Bill Shorten and shadow treasurer Chris Bowen saidLabor would fight the issue all the way to the election. Labor, if elected, would repeal the remainder of the package which would cut the tax rate from 30 per cent to 25 per cent for all companies by 2026-27. This is worth $35 billion over a decade. Laborhad yet to decide whether it would also repeal the element of the tax package which has already been legislated - a reduced rate for companies with annual turnovers capped at $50 million. This is worth another $29 billion over 10 years. Phillip Coorey reports Gold jumped 2.5 per cent to hit a one-month high last week. "Global trade tensions seem to be helping gold at the moment and how this evolves between the US and China is likely to be the key price driver this week," said Macquarie analysts. Gold ended the week at $1,347 an ounce, one of its best performances over the last 12 months despite a Fed rate hike rise, the analysts noted. It was trading at $1353.48 an ounce on Tuesday. In light of the recent move in the gold price, the analysts took a look at the prospects for a couple of Australian-listed gold producers The analysts lifted their price target on Regis Resources by 9 per cent to $5 to take into account a recently released maiden underground resource at the Rosemont gold deposit. They retained an outperform rating on the firm. Turning to Newcrest, the Macquarie analysts said they are retaining an underperform recommendation on the stock and a A$19.00 price target "with Cadia production stoppage presenting the key drag on our valuation." Regis shares edged up 0.2 per cent to $4.65, building on a 2 per cent gain in the previous session, while Newcrest fell 1 per cent to $19.96, dropping after three straight sessions of 1 per cent-plus gains. Australian shares followed Wall Street higher in early trading, with heavyweight banks and miners leading the advance. The S&P/ASX 200 index climbed 35 points, or 0.7 per cent, to 5825 while the All Ordinaries climbed 36 points, or 0.6 per cent, to 5937. The Australian dollar reached US77.46. The gains came as investors reacted to a lessening of trade tensions between the US and China, after officials from both countries signalled a preference to solve the US trade deficit with China through talks rather than tariffs. Global growth-sensitive miners were stronger on Tuesday, with BHP shares up 1.1 per cent, Rio Tinto jumping 1.1 per cent and South32 climbing 1.6 per cent. Whitehaven Coal rose 4.9 per cent after an upgrade at Morgan Stanley. Of the banks, the big four were in a tight range, trading between 0.4 per cent to 0.6 per cent higher in early action. Other notable advancers included A2 Milk, up 3.3 per cent, and CSL, trading higher by 1.3 per cent. On the downside, gold miners were giving back some of the previous session's gains, with Newcrest down 1.1 per cent and Northern Star down 1.6 per cent. More than 300,000 low-income retirees will be spared from Labor's plan to scrap cash payments for excess franking credits after the opposition amended the policy to exempt full and part-time pensioners, as well as every pensioner who is currently a recipient from a self-managed superannuation fund. The backdown, badged as the Pensioner Guarantee, will reduce from $11.4 billion to $10.7 billion the revenue the policy was estimated to make in its first two years, and from $59 billion to $55.7 billion the revenue it was slated to earn next decade, a fall of $3.3 billion. After days of dropping hints that pensioners would be looked after, Labor moved to spare the most vulnerable retirees from the policy that was always meant to be aimed at those who were better off. Despite anecdotal evidence of a strong backlash, Labor won easily the Batman byelection held just days after the policy was announced. Also, the latest Newspoll, published Monday, showed the policy had not harmed Labor's vote. It still led the government by 53 per cent to 47 per cent on a two-party preferred basis and its primary vote had inched up a point to 39 per cent. Phillip Coorey reports Reassurances from US Treasury Secretary Steven Mnuchin that he was negotiating on improving trade relations in good faith with China's Vice Premier and President Xi Jinping's closest economic adviser, Liu He, reduced investor anxiety in the US on Monday. Natixis chief economist for the Americas, Joseph LaVorgna, said President Trump's tariff threats against China were part of a "negotiation" and the tensions were unlikely to escalate into a full-blown trade war. "Investors had been discounting towards the worst case scenario and I think the probability of such an event is quite low," Mr LaVorgna said. "A lot of this is messaging and symbolism and trying to affect change. It will be messy at times." The White House's protectionist trade adviser Peter Navarro said Mr Mnuchin and US Trade Representative Robert Lighthizer were talking to Chinese counterparts to end the theft of US intellectual property and forced technology transfers. "We will continue to do that and we are hopeful that China will work with us to address some of these practices," Mr Navarro said on CNBC. John Kehoe reports SPONSORED POST We were left on a cliff's edge last week with the US close Friday. The nasty tumble through the week accelerated into significant support like the 15-month trend line support for the S&P 500, IG Markets' Ilya Spivak and John Kicklighter said. The opening gap for the S&P 500 to open the week amounted to 1.2 per cent the largest bullish jump on the first trade since November 2008. Indeed, SPI futures are pointing convincingly higher before Tuesday's opening bell. Gold prices enjoyed a lift at the expense of the weaker US dollar, leveraging its appeal as an anti-fiat alternative. Crude oil prices retreated however, rebuffing geopolitical risks that helped push them to a two-month high last week.That seems to reflect easing worries about a trade war between the US and China after Treasury Secretary Mnuchin expressed optimism in reaching a deal without resorting to tit-for-tat protectionism. The recovery in risk appetite has helped engineer a tepid AUD/USD bounce, though prices remain firmly within the bounds of the digestion range carved out after the currency pair slid to a three-month low last week. Perhaps the most remarkable feature of the week ahead of us is the curb on liquidity that would seem to follow the holiday conditions scheduled for the Western world. Good Friday is a market holiday for many of the most liquid financial centres around the world, and this anticipated curb on turnover will dampen all but the most dedicated efforts to swing the underlying sentiment theme one way or the other. Read more here http://canberratimes.com.au/business/markets-live/markets-live-asx-set-to-bounce-20180326-h0xzxt.html Amy Brady can't afford a house. She can't afford to have children. Sometimes it's a struggle to run her car.
Most fortnights, the Reid Early Childhood Centre director and her delivery driver partner would be lucky to have $20 to spare, she said. Reid Early Childhood Centre educator Renee Nelson and director Amy Brady.Photo: Karleen Minney Ms Brady said the struggle of living on an early childhood educator wage was "amazing". "I've got some [staff] who are living with family because they can't afford to live out on their own, and it's just ridiculous the majority of them end up leaving the sector because they just can't afford to survive," she said. Early childhood educators - more than 90 per cent of whom are women - earn an average $21 an hour. On Tuesday, Canberra workers joined a national United Voice campaign, walking off the job in protest of low pay. United Voice ACT secretary Lyndal Ryan said it was sexism keeping wages down. "We've been fighting equal pay for a century and we're still fighting for equal pay. Women still get a bad deal," Ms Ryan said. You will now receive updates from AM & PM Update Newsletter AM & PM Update Newsletter Get the latest news and updates emailed straight to your inbox. "We've got a situation where a Certificate III-level worker in early childhood education earns around $21. "If you happen to be in a male-dominated industry - and the example we use here is metalwork - exactly the same qualification, you'll be on $40 an hour." At least one Canberra centre closed during the strike action and workers from as far as Bungendore joined a lunchtime march through Manuka. Tuesday's walk-off represented the third strike in 12 months - and Ms Ryan said the union would notstop until the government helped lift wages by better investing in early childhood education and care. Education Minister Simon Birmingham on Tuesday reaffirmed his"enormous respect" for early learning and child care workers. "I expect all early learning and child care centres to value their employees and pay them as much as they can afford," he said. "Many already do pay above the award." MOCCA Manuka Childcare Centre board president Paul Dowden said his not-for-profit centre paid above award wages and called on others to follow suit. "We would love the government to chip in so parents don't have to cover everything ... but maybe the entire industry needs to step up and I think the government and the community needs to come alongside this as well," he said. Ms Brady said she had stuck with early learning for 14 years out of a love for the job and the children. But as standards were raised, she said, so too should wages. "We could raise our fees tomorrow but it should not be on the parents - it should be on the government to support us," she said. http://canberratimes.com.au/act-news/act-early-childhood-educators-march-for-equal-pay-20180327-h0y0la.html Melbourne United will revisit a familiar problem this week and solving it could decide whether they win the NBL grand final decider at Hisense Arena on Saturday night.
All season the team has had to find ways to spring NBA import Casper Ware from the traps and pressure defences that aim to force the ball from his hands. Play Video Don't Play Up Next Plays of the week Play Video Don't Play Video duration01:32 More Sports HQ Videos Previous slide Next slide Plays of the week Rabbitohs score a 90m corker, the men in green have all Irish eyes smiling, amazing drift in Rallycross, Brooke Lochland leads Doggies to maiden GF and Theoharous scores a ripper for Victory. Melbourne know if Ware can attack the key way he is dangerous as both a scorer or a passer and everyone in the NBL knows he possess one of the best three-point shots in the league, especially when the game is on the line. But grand final opponent Adelaide 36ers enjoyed one of their most successful games against Ware this season during their clutch game four win over Melbourne in Adelaide on Sunday. Ware still scored 13 points on six of 15 shooting plus had just one assist and three turnovers in 36 minutes but he was hounded by Sixers guard Nathan Sobey. By comparison Ware scored 25 points on nine of 18 shooting in 29 minutes during Melbournes game three win last Friday night. Melbourne coach Dean Vickerman had two immediate solutions soon after game four when asked how Ware could he freed up. Where we have seen Casper being really effective is when we put him in mismatch situations and he has really attacked their bigs, Vickerman said. Casper Ware is an integral part of the Melbourne United lineup.Photo: AAP There was less of us putting him in those situations tonight and letting him go. He got tired in that second half and I played him a lot, Ive got to find a way to rest him a little bit more and take him off his legs so he can come back with a little bit of a spring because the load he is putting in at both ends right now is great." Melbourne remain confident Ware can beat out Sobey despite his elite athleticism and quickness but Vickerman wants to see is his star guard breaking down the defence and opening up options for his teammates or himself. He did it tonight [defended] without fouling, Vickerman said. I have to do a better job coaching him but he was magnificent again tonight, he took it to the lane late in the game and thats what we ask of him - to continue put his feet in the paint and make good decisions. Melbourne captain Chris Goulding was asked whether the team still backed Ware to stand up in game five and his answer was an unequivocal yes. Hes proven guy in the world of basketball, not just in the NBL, Goulding said. We rock with him 100 per cent every single day whether it's game one, two, three, four, five. Melbourne did not have an update on Monday about starting power forward Tai Wesley who appeared to hurt his shoulder or bicep when committing his fifth foul on Sunday. He felt for that area as he walked to the team bench and his health will remain a central question leading into game five. Melbourne United host Adelaide 36ers at Hisense Arena in game five of the NBL grand final series on Saturday at 6pm. http://canberratimes.com.au/sport/basketball/melbourne-united-to-free-up-casper-ware-to-fire-in-title-decider-20180326-p4z6c8.html |
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