Australia Post restructure driven by gig-economy overhaul of logistics and delivery
Late last month, Australia Post, the state-owned postal service, announced a 15.5 percent year on year jump in revenue to $4.3 billion for the first half of the 2020-21 financial year. This was mostly on the back of a 25.9 percent increase in parcel revenue to $3.4 billion.
While takings from letter mail again declined, from $1.1 billion to $900 million, cost-cutting under the Alternative Delivery Model (ADM) meant losses in that section fell from $87 million to $74.2 million. Parcel delivery produced a $240.8 million profit, yielding an overall after tax return of $166.6 million for the six-month period.
Asian Markets Mostly Higher
CANBERA (dpa-AFX) - Asian stock markets are mostly higher on Wednesday following the broadly positive lead overnight from Wall Street. The positive trend in global stock markets following a pullback by long-term treasury yields ahead of auctions in the coming days and greater momentum in vaccination drive aided sentiment. Technology stocks are tracking overnight gains on Wall Street. Asian markets saw a mixed close on Tuesday.
The Australian stock market pared early gains and is edging down on Wednesday, with the benchmark S&P/ASX 200 below the 6,800 level, after two straight days of gains, despite positive cues overnight from Wall Street.
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Russia’s Push to Replace Aussie Coal in China an Empty Threat
Russia is planning to exploit trade tensions between Australia and China to move large quantities of its low-quality coal into the Chinese market and the rest of Asia.
Last week, Russian President Vladimir Putin met with industry executives and government officials to discuss plans for drastically increasing coal export to Asia by up to 30 percent, according to a Wood Mackenzie report obtained by The Australian. Russian President Vladimir Putin meets with employees of the Ural Transport Machine-Building Design Bureau during a visit to the Ural Vagon Zavod factory in Nizhny Tagil in the Ural mountains, Russia, on Nov. 25, 2015. (Alexei Nikolsky/Sputnik via AP)
The
Daily Mercury and
Whitsunday Times understand the 800,000 discounted tickets are expected to include return flights from Sydney to both Proserpine and Hamilton Island between April 1 and July 31. Increased flights will go to an initial 13 regions - the Gold Coast, Cairns, the Whitsundays, the Sunshine Coast, Lasseter and Alice Springs, Launceston, Devonport and Burnie, Broome, Avalon, Merimbula and Kangaroo Island. Demand will drive flights, routes and the total ticket number, which are subject to final discussions with the airlines. The half-price tickets will be available on airline websites from April 1. Prime Minister Scott Morrison said this next step in the COVID-19 recovery plan would target the businesses, workers and regions still doing it tough.