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Cyclone Alfred Downgraded as Millions of Australians Stay Indoors

Ex-tropical cyclone Alfred has been downgraded to a tropical low as it approaches the southeast Australian coast, providing some relief to Brisbane residents who are expected to avoid the storm's worst impacts. Thousands have evacuated, and significant power outages are reported, along with warnings from officials about severe weather conditions expected to escalate in the coming days. Prime Minister Anthony Albanese highlighted the serious nature of the cyclone's effects, urging citizens to remain indoors as the storm continues to bring strong winds and heavy rainfall.

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Thousands of Australians Without Power as Storm Alfred Lashes Queensland Δ1.90

A significant storm system, downgraded from a tropical cyclone, has left over 316,000 residents in Queensland without power due to damaging winds and heavy rainfall, particularly affecting the Gold Coast. Prime Minister Anthony Albanese has warned of serious conditions, including flash flooding and strong winds, while the Bureau of Meteorology predicts ongoing adverse weather patterns. As recovery efforts begin, the state is assessing the impact on schools and infrastructure, highlighting the community's resilience amidst the challenges.

Cyclone Alfred Stalls Off Australia's East as Millions Brace for Impact Δ1.89

Cyclone Alfred stalled off Australia's east coast on Thursday, with officials shutting down airports, schools, and public transport while residents stockpiled supplies and sandbagged homes against flooding expected when the category-two storm hits. The Bureau of Meteorology revised its landfall forecast to Saturday morning near Brisbane, Australia's third-most populous city, bringing heavy rain, flooding, and damaging wind across the border regions of Queensland and New South Wales. Residents are bracing for a prolonged period of heavy rainfall and life-threatening flash flooding in northern New South Wales.

Cyclone Looms as Aussie Staple Disappears From Shop Shelves Δ1.81

Panic buying has struck supermarkets across South East Queensland amid forecasts of Tropical Cyclone Alfred crossing the east coast, leaving shelves bare of essential items like bottled water, eggs, milk, and bread. Supermarkets are struggling to keep up with demand for these staples, leading some customers to resort to panic buying in preparation for possible supply outages ahead of the category 1 system intensifying off the coast. As the cyclone approaches, residents are being urged to prepare for intense rainfall and damaging winds.

Centrelink $1,000 Cash Boost Announced for Aussies Impacted by Critical Event Δ1.80

The Australian government has announced plans to give one-off Centrelink payments of $1,000 to those affected by ex-Tropical Cyclone Alfred, targeting individuals who have been severely impacted by the disaster and require immediate financial assistance. The payment is expected to be activated as "expeditiously" as appropriate, with a focus on providing support to those who have lost their income and are unable to work due to the cyclone. The government aims to provide relief to those affected, including individuals, families, and businesses impacted by the disaster.

Cyclone Garance Brings Destruction to French Island of La Reunion Δ1.78

The cyclone made landfall in the north of the Indian Ocean island, causing widespread damage and disruption. Cyclone Garance brought strong winds that blew away roofs, cut power, and left many residents without access to drinking water. The storm has also disrupted essential services and transportation.

Cyclone Garance Strikes La Reunion, Claims Four Lives Δ1.77

At least four people died after cyclone Garance struck the French overseas territory of La Reunion on Friday, bringing wind speeds of up to 155 kph (96 mph), local authorities said on Saturday. The cyclone made landfall in the north of the Indian Ocean island, causing widespread damage and disrupting essential services such as electricity and water supply. The situation remains precarious, with thousands of residents being sheltered in centres and many more affected by the storm.

Floods in Indonesia's Capital Displace Thousands Δ1.75

Thousands of people were evacuated in Indonesia's capital Jakarta on Tuesday after floods swamped the region, officials said, with heavy rain expected to continue until next week. Torrential rain since Monday has triggered floods of up to 3-metres (yards) in and around Jakarta, blocking some roads and submerging over 1,000 houses and many cars. The country's weather agency warned that heavy rain is forecast to hit the capital and surrounding cities until March 11.

Australia's Housing Market Ends Downturn as Rate Cut Lifts Sentiment, Corelogic Data Shows Δ1.71

Australia's property market emerged from a shallow downturn in February as the first rate cut in over four years lifted buyer sentiment, although the still-high borrowing costs and elevated prices are clouding the outlook. Figures from property consultant CoreLogic showed prices across the nation rose 0.3% in February from January, ending three months of declines or no growth. The Reserve Bank of Australia has cautioned that any further easing will be gradual, with market pricing suggesting just two more rate cuts to 3.6% by the end of the year.

Argentina Floods Kill At Least 10 In Bahia Blanca Port City Δ1.71

Severe flooding in Bahia Blanca, Argentina, triggered by heavy rainfall, has resulted in at least 10 fatalities and significant destruction, including collapsed roads and bridges. Over 260 millimeters of rain fell in just a few hours, prompting extensive evacuations and the deployment of military resources to assist affected residents. The Argentine government has allocated 10 billion pesos in financial aid to support recovery efforts in the port city, which houses around 300,000 people.

Western Australia Polls to Test Popularity of Albanese's Party Δ1.70

The state of Western Australia will hold its final political contest before Prime Minister Anthony Albanese calls a national election, with the outcome expected to influence his re-election prospects. Albanese's Labor party is widely favored to win, but the conservative opposition Liberal party hopes to weaken their grip on power and pressure the Prime Minister. The ruling party has maintained a strong presence in the state parliament, with Premier Roger Cook likely to secure a third consecutive term.

Austrailia Government Pledges Temporary Beer Tax Freeze as Election Looms Δ1.70

The Australian government has announced a temporary freeze on tax hikes for draught beer, in an effort to boost sagging popularity and appease brewers and hospitality businesses ahead of the general election. This move comes as Australia is one of the world's wealthiest countries per capita and one of its highest-spending on alcohol per capita, with inflation-indexed tax hikes on alcohol producers levied twice a year. The temporary freeze will start in August and aim to reduce pressure on beer prices at pubs and clubs, while supporting local businesses and regional tourism.

Urgent Warning over New Aussie Discount Store After 'Nightmare' Opening: Stop Using Immediately Δ1.69

Panda Mart's rapid rise to popularity has raised concerns about product safety, with hundreds of potentially hazardous items seized by Consumer Affairs Victoria. The regulator has warned shoppers to avoid the store until further notice and return any purchased items for a refund. Authorities have expressed frustration that some products may have been sold despite failing to meet mandatory standards.

Decolonisation of Jamaica: Government Urged to 'Fully Decolonise' With Bill to Ditch King Charles Δ1.69

The Jamaican government has presented a bill to remove King Charles as head of state, sparking debate on the country's colonial legacy and the role of the monarchy. Critics argue that the change should go further to address historical injustices, while supporters see it as a step towards true independence. The bill proposes a new president elected directly by the people, rather than nominated by the prime minister.

Aussie Fashion Retailer Collapses Amid Cost-of-Living Crisis Δ1.69

Ally Fashion has shut down nearly a third of its stores across the country, with 250 jobs lost. The closures mean 51 retail stores have ceased operating, including 19 in Queensland, 11 in New South Wales, eight in Victoria, seven in South Australia and six in Western Australia. Following an urgent assessment by liquidators, the business will continue to operate in the short term while exploring options for restructuring or sale.

Chancellor Set to Cut Welfare Spending by Billions Δ1.69

The chancellor has earmarked several billion pounds in draft spending cuts to welfare and other government departments ahead of the Spring Statement. The Treasury will put the proposed cuts to the government's official forecaster, the Office for Budget Responsibility (OBR), on Wednesday amid expectations the chancellor's financial buffer has been wiped out. Sources said "the world has changed" since Rachel Reeves's Budget last October, when the OBR indicated she had £9.9bn available to spend against her self-imposed borrowing rules.

US Faces Devastating Losses for Weather Forecasts, Federal Workers Say Δ1.69

The National Oceanic and Atmospheric Administration (NOAA) has canceled leases for research centers and slashed its staff, resulting in "devastating" effects on the agency's operations. The federal agency that produces weather forecasts and leads research on climate and the oceans has plans to lay off around 50 percent of its staff. Current employees are warning that these cuts will have a significant impact on the accuracy and reliability of weather forecasts.

Layoffs at Noaa to Put American Lives at Risk Δ1.69

Scientists warn that Trump administration's firing of hundreds of workers at NOAA will put lives at risk and stifle crucial climate research.The layoffs at the agency, which provides critical information on weather emergencies, include scientists working on data for forecasts among those fired.NOAA's work spans climate modeling, radar system maintenance, and more.In addition to everyday forecasting, NOAA provides crucial information to help Americans survive weather emergencies.The cuts come at a time when scientists say climate change is increasing the intensity and frequency of hurricanes, tornadoes, flooding, and wildfires.

Indonesia Sees Deflation Reading for First Time in Over Two Decades. Δ1.69

Indonesia's consumer price index fell 0.09% year-on-year in February, marking the first annual measure of deflation since March 2000. This decline was largely driven by a 50% discount on electricity tariffs and lower prices of certain food products such as rice, tomatoes, and red chillies. The government's intervention to boost economic growth appears to have succeeded in reducing inflation.

Beer Tax Relief Angers Aussies ‘Left Out’ of 'Major' Cut Δ1.69

The Australian government's recent decision to freeze the alcohol excise duty for draught beer has sparked disappointment among those in the spirits industry, who feel excluded from this long-awaited relief. While the freeze marks a significant policy shift after four decades, it only applies to beer, leaving spirits to face ongoing tax increases that strain consumer affordability. Industry leaders argue that the current tax regime, one of the highest in the world, hampers local distillers and pushes consumers to prefer staying home instead of enjoying a drink out.

Cutting Foreign Aid Won't Fix Defence Spending Woes Δ1.68

Anneliese Dodds' resignation follows PM Starmer's slashing of foreign aid budget to boost defence spending. The UK's international development minister had criticized the move, stating it would harm British influence abroad and devastate those relying on aid. The cuts will now take effect, reducing Britain's overseas development budget from 0.5% to 0.3% of GDP.

New Zealand's Economic Missteps Hasten Exodus to Sunnier Shores. Δ1.68

New Zealand faces its worst economic downturn since 1991, with unemployment at a more than four-year high and companies going bust at the fastest pace in over a decade. The country's economy was the worst performing in the developed world last year, according to HSBC, and Australia has become a hot choice for kiwi jobseekers due to its better job prospects. Flawed data and policy missteps have worsened New Zealand's economic woes, leading many to seek opportunities elsewhere.

Indian Slums Get 'Cool Roofs' To Combat Extreme Heat Δ1.68

In Ahmedabad, India, a project has commenced to paint the roofs of 400 households in informal settlements with a reflective white coating, aiming to reduce indoor temperatures as extreme heat becomes increasingly prevalent. This initiative is part of a global scientific trial investigating the impact of indoor heat on health and economic outcomes, particularly in developing countries. Early participants report significant improvements in living conditions, including lower electricity bills and better sleep quality, as they benefit from the cooler interior temperatures.

Rachel Reeves' Plan for Economic Stability Faces Challenges Δ1.68

The UK Chancellor will unveil her Spring Statement on 26 March, presenting an update on economic forecasts and making key announcements about borrowing, spending, and taxation. The Office for Budget Responsibility's forecast is expected to confirm that the financial buffer set by the chancellor has been wiped out, leaving room for potential policy changes. The government is under pressure to address sluggish economic growth and rising inflation, with some reports suggesting possible tax rises or spending cuts.

Threats at Transportation Hubs Pose National Security Concerns. Δ1.68

Police evacuated Vienna's main train station on Monday over an unspecified threat, halting rail traffic before giving the all clear around 90 minutes later. The police did not describe the threat, but some Austrian media said it was a bomb threat, echoing a series of empty bomb threats in Austria last year that prompted the clearing of larger stations and delays to train traffic. National rail company OBB warned continued delays and cancellations were expected as the station reopened.

Sunnova Stock Hits All-Time Low on 'Going Concern' Warning Δ1.68

Sunnova Energy International has announced that it may not be able to continue as a "going concern" in a year due to financial difficulties, which have led to its shares losing nearly two-thirds of their value. The solar power company's declining demand for alternative energy products has resulted in a 13% decrease in solar energy system and product sales revenue for fiscal 2024. Sunnova has taken steps to address its financial condition, including mandating domestic content for dealers and raising prices.