Good morning! Reserve Bank of New Zealand Governor Adrian Orr cut the official cash rate to 4.75%. Are we expecting one in Australia? check out the RBNZ's news to our sister publication Mencari Business.

On a different note, China's stock market rally seems to have fizzled out a bit. It looks like their economic stimulus plan might not have been as effective as they'd hoped.

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Today's reading time is 7 minutes. - Miko Santos

WEATHER

THIS MORNING HEADLINES:

• Ex-Labor Senator Launches 'Australia's Voice' Party, Promising Inclusive Politics. Former Labor Senator Fatima Payman has created a new political party called "Australia's Voice," aimed at offering an alternative to major parties for voters feeling left behind, without specific policy positions and allowing conscience votes on issues like the Gaza conflict.

• Greens' Anti-Price Gouging Bill Defeated as Labor Sides with Big Business. The Australian Labor Party voted against a Greens-proposed bill that would have made price gouging illegal, leading to accusations that Labor is prioritizing corporate interests over addressing the cost-of-living crisis for everyday Australians.

  
  

POLITICS
Albanese Calls for Middle East De-escalation While Supporting Israel's Defense

Prime Minister Anthony Albanese is weighing the tightrope act of complex international relations that has so far seen him note both the right of Israel to defend itself and calls for de-escalation in the dispute in the Middle East.

The Key points:

• Albanese supports right of Israel to self-defence, but calls for de-escalation

• PM puts Australia in lockstep with G7 nations and key allies

• Diplomatic solution required at Israel-Lebanon border conflict

• Supports two-state solution despite the challenges

The Prime Minister, Anthony Albanese, adopted a nuanced stance on the Middle East conflict, on one hand supporting Israel's right of self-defense, yet at the same time encouraged de-escalation and diplomacy. He brought Australia in line with the G7 nations and key allies, such as the United States and the United Kingdom, to pursue a long-term solution that would secure both the Israelis and Palestinians.

Big Picture: Albanese's posture reflects the challenge world leaders face in trying to tackle complex international conflicts against a difficult diplomatic background and amidst varied expectations. This puts into perspective the tightrope of reassuring allies, pursuing peace, and balancing a complex maze of domestic and international expectations with precision.

TOUR DE INTERNATIONAL

🇵🇭 Ex-Philippine President Duterte Seeks Mayoral Comeback Amid ICC Investigation. Former Philippine President Rodrigo Duterte, known for his controversial anti-drug campaign, has registered to run for mayor of Davao City in the 2024 elections, with his son as his vice-mayoral candidate, despite ongoing investigations by the International Criminal Court into his administration's actions.

🇺🇸 Hurricane Milton Threatens Florida's Gulf Coast with 'Catastrophic' Storm Surge. Hurricane Milton, a Category 5 storm, is approaching Florida's west-central Gulf Coast, prompting mass evacuations and warnings of potentially life-threatening storm surges up to 15 feet high in some areas, with officials describing it as a "catastrophic" and "record-breaking" weather event.

🇯🇵 Japan PM Shigeru Ishiba Dissolves Parliament, Sets Snap Election for October 27. Japan's new Prime Minister Shigeru Ishiba has dissolved the lower house of parliament just 9 days after taking office, calling for a snap election on October 27 to secure a mandate for his government amidst criticism of prioritizing elections over policy debates.

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BUSINESS
U.S. Copyright Law: The Hidden Threat to Australian Online Sellers

Online commerce knows no borders, and yet Australian small businesses may well find their Achilles' heel across the Pacific through the long arm of US copyright law. The DMCA is a double-edged sword, and one that may cut off Australian entrepreneurs from lucrative markets with no warning and often without recourse.

The Key points:

• The Australian Small Business Ombudsman has issued a guide on how US copyright laws impact online sellers.

• DMCA takedown notices can have an instantaneous effect of shutting down businesses on leading platforms.

• Competitors could be gaming the law to knock out legitimate Australian businesses unfairly.

• Countering DMCA notices threatens very costly legal battles and subjects them to the jurisdiction of the U.S. courts with financial and operational risks.

The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, issued a warning about the impact that U.S. copyright laws may have on online sellers. The thing is, many Australian businesses selling on Etsy or via Shopify, for example, don't realize that the Digital Millennium Copyright Act applies to them.

It allows platforms to remove content-accused of copyright infringement, for example, product listings and images-often without warning or with limited avenues for immediate appeal-and leave businesses exposed to sudden disruptions. While the DMCA is designed to protect intellectual property, it can also be abused by bad competitors looking unfairly to target a legitimate business with potentially disastrous financial consequences.

Big Picture: The DMCA issue illustrates the broader challenges of regulating the digital economy at an international level. It is raising questions of a balance between protection of intellectual property and promotion of fair competition in the global marketplace. The situation can, in turn, lead to calls for international treaties to harmonize laws on digital commerce or for the platforms themselves to develop more comprehensive plans to deal with copyright infringement. In summary, small firms need to be cautious; they seek legal advice, understand international legal environments, and are proactive in reducing risks as they enter global markets.

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TECHNOLOGY
Australia's Internet at a Crossroads: PM Defends Public NBN Amid Calls for Scrutiny

With one stroke of a pen, that may remake Australia's digital landscape, Prime Minister Anthony Albanese has set the scene for a torrid debate over the future of the National Broadband Network. As the government introduces a bill to cement public ownership of the critical infrastructure, the nation comes to a crossroads-balancing economic interests with the promise of equitable access to high-speed internet across Australia.

The Key points:

• Government Introduces Bill to Ban NBN Privatisation

• PM Albanese says Public Ownership Guarantees Service and Value Across the Nation

• Opposition Continues to Wears Its Past Anti-NBN Politics with Potential Privatisation Intentions

• Greens Want Senate Enquiry on NBN Executive Payments and Their Accountability

The legislation introduced by the Albanese government to retain the National Broadband Network in public hands has propelled into the national spotlight a debate regarding the future of Australia's digital infrastructure.

Anthony Albanese says the principle of public control is necessary to ensure quality service at reasonable prices, particularly in rural and remote areas. Meanwhile, the Greens are also backing the call to maintain public ownership, calling on a Senate inquiry to look into the impact of the bill on accessibility, quality, and affordability of services.

Big Picture: The debate over NBN reflects a larger, worldwide discussion of the appropriate role of government in a world going digital. As countries everywhere address concerns about technological access and economic equity, the choice Australia makes could set a benchmark for how nations approach developing and managing crucial digital infrastructure. This may mean that the outcome of this debate has far-reaching consequences in how not only remote working is provided, but basic services such as healthcare and education are delivered across the vast expanse of Australia.

WAIT, THAT’S NOT ALL!

• Sydney Restaurateur Alan Yazbek Charged for Displaying Nazi Symbol at Pro-Palestine Rally. Alan Yazbek, a well-known Sydney restaurateur and owner of the Nomad Group, has been charged with publicly displaying a Nazi symbol during a pro-Palestine rally, violating NSW laws that ban such displays.

• Australian Dwelling Approvals Drop 6.1% as Construction Costs Soar. Australian housing experts are attributing a significant drop in new dwelling approvals, particularly for multi-unit developments, to rising construction costs and labour shortages, potentially impacting the government's goal of building 1.2 million new homes over five years.

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