Categories
Business

US inflation cools after 41-year high, Wall Street rallies, Australian dollar surges

US consumer inflation has eased thanks to a sharp fall in the cost of oil, sending US stocks higher.

The Consumer Price Index was flat in July after rising by 1.3 per cent in June, when prices reached an annual rate of 9.1 per cent — the highest in 41 years.

The US Labor Department said over the year to July, prices rose at the slower pace of 8.5 per cent, better than expected by economists.

The data is the first notable sign of relief for Americans who have watched inflation steadily climb over the past two years.

The US central bank, the Federal Reserve, is considering whether to make another large interest rate increase of 0.75 per cent in September, after a string of rate rises this year.

July’s slowdown in monthly inflation was the largest since 1973 and followed on the heels of petroleum prices falling by around one-fifth since mid-June.

Prices at the pump spiked in the first half of the year because of the war in Ukraine and reached a record high of more than $US5 a gallon in mid-June.

Gasoline prices fell 7.7 per cent in July, but food prices remained elevated, climbing by 1.1 per cent.

However, prices are still rising at levels not seen since the high-inflation era of the 1970s and early 1980s.

The core consumer price index, which strips out volatile energy and food prices, rose 0.3 per cent in July from June, and 5.9 per cent from a year earlier.

US consumer prices have surged for a variety of reasons including the global supply-chain squeeze, massive government stimulus from the COVID-19 pandemic, and Russia’s invasion of Ukraine.

Chicago Federal Reserve president Charles Evans said the inflation reading was the first “positive” one since the central bank began raising interest rates earlier this year.

But he said inflation was still “unacceptably” high and the Fed would continue to need to raise rates likely to between 3.25 per cent and 3.5 per cent this year, and to between 3.75 per cent and 4 per cent by the end of next year.

“This is not yet the meaningful decline in inflation the Fed is looking for,” Paul Ashworth of Capital Economics said.

“But it’s a start and we expect to see broader signs of easing price pressures over the next few months.”

US stocks surge

Equity markets rallied after the US inflation report came out, with investors betting the Federal Reserve might raise official interest rates by 0.5 percentage points instead of 0.75 percentage points next month.

The Nasdaq and S&P 500 surged more than 2 per cent.

By the close, the Dow Jones Industrial Average rose 1.6 per cent to 33,310, the S&P 500 rose 2.1 per cent to 4,210, and the Nasdaq Composite rose 2.9 per cent to 12,855.

All 11 sectors on the S&P 500 gained, led by miners, consumer staples and technology stocks.

The US inflation data calmed nerves in Europe.

The FTSE 100 index in London rose 0.25 per cent to 7,507, the DAX in Germany rose 1.2 per cent to 13,701, and the CAC 40 in France rose 0.6 per cent to 4,954.

The Australian share market is expected to open higher.

At 7:20am AEST, the ASX SPI 200 index was up 1 per cent to 6,950.

The Australian dollar jumped 1.6 per cent as the greenback fell. It reached an overnight high of 71.09 US cents.

At 7:20am AEST, the local currency was trading at 70.77 US cents.

Brent crude oil rose 0.8 per cent to $US97.11 a barrel, while spot gold fell 0.1 per cent to $US1791.39 an ounce.

ABC/Reuters

.

Categories
Technology

Tower of Fantasy is perfect for recreating Genshin Impact characters

Didn’t get the character you wanted in Genshin Impact? Well no worries, because now you can recreate a version of that character in an entirely different game. (Amazing!) Now that it is launching worldwide, fans are starting to use the character creator in a similar game called Tower of Fantasy, to recreate popular characters from Genshin Impact.

Tower of Fantasy is a new free-to-play open world game that will launch globally August 11, with players in the United States able to play it on Wednesday evening. According to the developers, the game is an “anime-infused sci-fi adventure” set hundreds of the years in the future. The game allows you to customize your main character with various traits like clothes, hair color, and height, among other options. And fans are using this customization feature to make characters from Genshin Impact like Keqing, Bennett, Zhongli, and others. Here’s Kokomi, except with a futuristic outfit.

Someone made a tall version of Bennett and a character who looks like Zhongli. (As well as some Naruto characters like Sasuke and Nagato.)

A fan also recreated Keqing, so she can be busy and stressed in this life too.

A TikTok shows a character that looks like the pole-arm user, Hu Tao from Genshin.

Here is a character that looks like Shikanoin Heizou, who is a new addition to Genshin.

One person recreated one of the protagonists of Genshin ImpactLumine in the creator.

The trend is a tad ironic because Tower of Fantasy is a potential competitor to Genshin Impact. Like Genshin, Tower of Fantasy is a free-to-play open world RPG with gacha mechanics. It’s definitely aimed at a similar audience, and the Genshin Impact community’s embrace of it certainly supports that idea.

If the game sounds interesting to you, I have good news: Tower of Fantasy launches Wednesday evening in the US and globally on August 11, and it’s playable on Windows PC and mobile devices, so you can try it out.

Categories
Australia

Olivia Newton-John tributes continue; Sydney train industrial action continues; Matt Kean becomes NSW Deputy Leader; China asserts right to take Taiwan by force; Trump’s Mar-a-Lago home raided by FBI; ACTU economic plan revealed; COVID winter wave continues

Staying with Kevin Rudd’s Radio National interview for a moment, and the former Labor PM says the Albanese government is striking the right balance when it comes to handling China-Australia relations.

As mentioned yesterday, Opposition Leader Peter Dutton says it’s time to call out bullying behavior from Beijing.

Kevin Rudd has lashed Opposition Leader Peter Dutton.

Kevin Rudd has lashed Opposition Leader Peter Dutton. Credit:Bloomberg

“Mr Dutton is the architect of what I would describe as Australia’s megaphone diplomacy towards Beijing,” Rudd said.

“Has it solved any problems in terms of Australia’s long-term relationship with China? Not really. It was simply aimed, primarily, as a piece of domestic political posturing on the part of Mr Dutton and the Liberal Party.

“For God’s sake, this is the party which leased the Port of Darwin to China on a 99-year lease. This is the government which failed to put down a single rivet on a single boat on a submarine order which was agreed to under my government.

loading

“Mr Dutton has multiple cases to answer rather than just wallowing around in the continued rhetoric of hairy-chestedness. It doesn’t advance Australia’s core national security interests one bit.”

Here’s what Dutton told Sydney-based radio station 2GB: “If you don’t call out somebody like President Putin or President Xi, if we don’t shine a light on the bad behaviour, we will see in Taiwan what we’re seeing in Ukraine at the moment.”

Categories
US

Pilot shortage prompts proposals to raise retirement age, lower training hours. : NPR

A student pilot and flight instructor prepare to take off on a training flight outside of Phoenix.

David Schaper/NPR


hide caption

toggle caption

David Schaper/NPR


A student pilot and flight instructor prepare to take off on a training flight outside of Phoenix.

David Schaper/NPR

Air travelers just endured another weekend of widespread flight delays and cancellations. Airlines canceled more than 5,100 flights that had been scheduled from Thursday, Aug. 4 through Monday, Aug. 8, and close to 30% of the flights that did take off were delayed.

It’s something that’s become all too common this summer, as airports have been busier than at any time since the pandemic began, but airlines struggle to meet the surge in air travel demand.

The airlines blame the chronic delays and cancellations, in part, on a shortage of staff, and especially of pilots, which gets magnified in times of bad weather or other operational problems.

The pilot shortage is also forcing airlines, especially regional carriers, to reduce the number of flights they offer, particularly to smaller cities.

United Airlines has ended service to 25 destinations since the pandemic began. American and Delta have dropped dozens of cities from their flight schedules, too.

Places like Twin Falls, Idaho; Mason City, Iowa; and Elko, Nev., are down to one flight a day. United’s single daily flight to Mason City also stops in Fort Dodge, Iowa, and is that small city’s only flight each day, too.

Even Chicago’s O’Hare, one of the world’s busiest airports, has nearly 25% fewer departures each day than it did in 2019, because of the sharp drop in the number of regional airline flights to smaller cities, according to the aviation data analytics firm OAG.

The Regional Airline Association says its member airlines, including SkyWest, Republic, Envoy, Endeavor, and Mesa, which fly regional routes on behalf of the big legacy carriers such as American Eagle, Delta Shuttle and United Express, are not cutting service to these smaller airports because they want to, but because they don’t have enough pilots to staff the flights.

So to address the shortage, some in the industry and in Congress are calling for some big changes. Among them are raising the mandatory pilot retirement age from 65 to 67, and reducing the number of flight hours required before a pilot can be certified.

“We have a crisis when it comes to airline travel,” Sen. Lindsay Graham of South Carolina said recently at his home state’s Greenville-Spartanburg airport. “We have a pilot shortage and those who say we don’t, well, they’re just full of it.”

“We’re suffering because of this,” Graham added. “Airlines have to make decisions, so when you have fewer pilots, you gotta pick what routes to fly, and regional airports like Greenville and throughout other smaller communities suffer the most.”

With too few pilots to staff flights, airlines have had to park hundreds of airplanes.

“There are approximately 500 fewer regional aircraft operating today than at the end of 2019,” says Drew Lemos of the Regional Airlines Association. “This represents a loss of a quarter of the regional fleet. Five-hundred parked aircraft equates to a deficiency of approximately 5,000 pilots.”

Calls for raising the minimum retirement age

So to keep the industry from losing even more pilots, Graham is sponsoring legislation that would raise the mandatory airline pilot retirement age from 65 to 67, as long as they continue to meet the FAA’s stringent medical qualifications to fly commercial aircraft.

The federal Bureau of Labor Statistics projects that US airlines will need to hire about 14,500 pilots each year over the next decade, but new pilot training and licensing is not keeping up with that demand.

And Graham and the RAA say in the next two years, 5,000 pilots will be forced out of the industry as they reach that mandatory retirement age, and 14,000 pilots will age out of the cockpit by 2026.

“Pilots will be aged out, not because they’re unsafe, just simply because they reach 65,” Graham said. “My legislation would allow pilots to continue to fly if they meet the qualifications. We’re not dumbing down anything.”

“This legislation is critical to help address the pilot shortage and prevent air service loss in communities across the country,” Lemos added.

But the unions representing airline pilots disagree.

“It’s a bad idea and it doesn’t solve the problem,” says Capt. Dennis Tajer, a 737 pilot for American Airlines and spokesperson for the Allied Pilots Association.

He contends the air travel problems this summer are not simply because of a shortage of pilots.

“There’s a shortage of plans,” says Tajer, adding that airline “management did not plan for this recovery” in air travel.

Tajer suggests that to the extent there is a shortage of pilots, the airlines brought that upon themselves. He points out that even though the airlines received $50 billion in taxpayer funding to keep employees on the payroll during the pandemic, many of them gave pilots generous early retirement packages, including partial pay, benefits and other enticements.

“To save money, they incentivized pilots to retire early and they never started training the pilots that would fill those seats,” Tajer said.

The other major union representing airline pilots, the Air Lines Pilots Association, echoes those comments, while contending that there is no pilot shortage. The union says in a news release that the proposed legislation is a “misguided attempt to solve a problem that doesn’t exist.”

“This legislation is yet another attempt to distract the conversation from the real issue, which is that some US airlines have clearly failed to plan for the industry’s comeback that we are experiencing today,” Capt. Joe DePete, ALPA’s president, said in the news release. He added that raising the retirement age “would only increase costs for airlines as well as introduce unnecessary risks to passengers and crew alike.”

Because the international mandatory retirement age for pilots is also 65, if the age was raised in the United States, pilots 65 or older would no longer be allowed to fly overseas. Those routes are usually flown on widebody jets, such as Boeing’s 777 and 787, so those veteran pilots would have to be retrained on smaller narrow body planes to keep flying.

That is one of the reasons some of the bigger, legacy airlines oppose raising the retirement age. They and others also bring up safety concerns, citing research showing that cognitive abilities decline as people age.

When asked recently about increasing the mandatory retirement age, United Airlines CEO Scott Kirby said he doesn’t think it’s a solution, telling CNBC that “at United, of our age 64 pilots, 36% of them are unavailable to fly on a given day for sick, short-term or long-term medical reasons.

“We’re already at 36% at that age, so extending the age… I don’t think is going to be the answer,” Kirby added.

And Transportation Secretary Pete Buttigieg echoed such concerns recently on Fox News Sunday.

“Look, these retirement ages are there for a reason and the reason is safety. I’m not going to be on board with anything that could compromise safety,” Buttigieg said. “The answer is not to keep the baby boomer generation in the cockpit indefinitely. The answer is to make sure that we have as many and as good pilots ready to take their place; to have a stronger pipeline.”

Many aviation experts don’t doubt that some airline pilots would be able to continue flying safely after turning 65, but they say, at best, it’s only a short-term fix.

“This is not a solution to the pilot-supply issue,” says Elizabeth Bjerke, a pilot, aviation professor and associate dean at the University of North Dakota. “This would be maybe a short term, extra bubble of pilots, but it’s not going to fix the long-term issue of needing more pilots. We really need to focus on inspiring, exciting and supporting the next generation of aviation professionals.”

Also looking to lower mandatory training hours

Another proposal aimed at quickly increasing the number of airline pilots is to reduce the 1,500 hours of flight time required for airline pilot certification.

There are exceptions to the FAA’s 1,500-hour rule. Pilots with military training can be certified with 750 hours of flight time because that is considered optimal training; those earning a 4-year college aviation degree can earn an Air Transport Pilot certification with 1,000 hours; and those with 2-year degrees can be licensed with 1,250 hours.

Regional carrier Republic Airways has petitioned the FAA for an exemption to allow graduates of it’s flight school to obtain a first officer’s ATP certificate with 750 hours of flight time, the same level as pilots trained in the military.

Some experts argue that it’s not the amount of time in the air that matters, but the quality of the training, and training in a commercial jet simulator will actually be more valuable to an aspiring airline pilot than flying a few hours in a small airplane a couple times a week or on weekends.

But Bjerke and others point out that the United States has enjoyed an unprecedented period of commercial airline safety since the 1,500-hour rule and other safety regulations went into effect a decade ago.

And she notes that one of the best ways to gain flight hours and valuable experience is working as a flight instructor after completing a flight school program. Most aspiring commercial airline pilots earn their flight hours by getting certified to be and working as flight instructors, so luring them to the airlines prematurely could actually exacerbate the pilot shortage.

There’s already a shortage of flight instructors, Bjerke says, so losing the current pipeline of flight instructors to the airlines “would be detrimental to how many students we could bring into our aviation program. So, again, what looks like a short-term fix is going to have long lasting impacts on the pilot supply because we need qualified flight instructors to train that next generation.”

But despite such concerns, as passenger frustrations this summer grow over chronic flight delays and cancellations, Congress may feel compelled to take up the proposals to increase the pilot retirement age and cut the number of hours required for air transport pilot certification.

Categories
Business

I’m on a higher income bracket – is it super worth it if I pay more tax?

When it comes to what is described as a tax-concessional super contribution, there is a base rate of 15 per cent tax that applies to the annual cap of $27,500, says Fry.

Instead of paying this base tax of $4,125 on a one-year $27,500 super contribution entitlement, which will reduce the contribution to $23,375, a potential extra $4,125 in tax could reduce this further to $19,250.

That’s not to say this will automatically happen if your taxable income exceeds $250,000 and you contribute $27,500 to super.

To determine how much extra tax, you might be up for requires you to be aware of the rules that apply to Division 293 tax.

These rules require you to add your super contributions to your taxable income to create what is described as an adjusted taxable income, on which you then pay 15 per cent tax on the amount greater than $250,000.

For example, say your taxable income (including your capital gain) is $240,000 and you contribute $27,500 to super, your total adjusted taxable income will be $267,500 – $17,500 greater than $250,000.

This will make you liable for extra tax of 15 per cent on $17,500, or $2625.

To be up for the maximum Division 293 tax, you will need income that is well above $250,000. Say you earned $300,000 and contributed $27,500 to your super, your total adjusted income will be $327,500, which is well over $250,000. This will make you liable for an extra 15 per cent on your entire $27,500 concessional contribution – or another $4125 – reducing your super contribution to $19,250

Regarding your question whether this extra tax makes a super contribution worthwhile, says Fry, if you didn’t make a super contribution, the full tax payable on $27,500 at the highest personal tax rate would be $12,925.

So, making a tax-concessional contribution to super will result in an overall saving of $4,675 after the extra 15 per cent tax has been deducted. That is an important attraction offered by super.

Regarding your profit on the property investment, says Fry, it will need to be a substantial gain to push you into Division 293 tax given you will only be paying tax on half the capital gain after the cost base has been deducted.

So if your taxable capital gain pushes your income well above $250,000, you will still be nearly $5,000 better off making a super contribution, says Fry.

Regarding your wish to help your children, taking full advantage of your super opportunities might involve maximizing the super you transfer to the pension phase ($1.7 million) where investment earnings and withdrawals are tax-free.

Once you can access your super, this leads to the second part of your question regarding death benefits being paid to your adult children and the tax an adult child may be liable for.

Where super is paid as a death benefit to an adult child who is not a financial dependent of their parent with super, tax of 17 per cent (15 per cent plus 2 per cent Medicare) can apply to the taxable component – ​​the super sourced from investment earnings and tax-concessional contributions.

But if the payment is made through an estate, the Medicare levy will not apply, meaning only a 15 per cent tax rate.

That said, no tax will apply if the super is withdrawn in your lifetime as this will be tax-free and can form part of an estate, if not spent, and therefore also be tax-free to any beneficiaries.

Categories
Australia

Sydney news: Plan to pay ‘outstanding’ teachers up to $130,000 in NSW

Here’s what you need to know this morning.

Resignation letter to go public

a man wearing a hard hat looking
David Chandler was the first building commissioner for NSW.(ABCNews)

The NSW government today will release the former state building commissioner’s resignation letter after questions were raised about why he left the job.

David Chandler abruptly resigned last month saying it was time for a “reset.”

There have been reports he may have resigned due to a breakdown in his working relationship with former cabinet minister Eleni Petinos.

Ms Petinos was sacked from the NSW ministry last month over bullying allegations which she denies.

Yesterday, Labor successfully moved a motion in the upper house to compel the government to produce the letter within 24 hours.

The Premier also revealed the letter had been referred to the NSW Independent Commission Against Corruption (ICAC) out of an “abundance of caution”.

New teacher salary plan revealed

A woman wearing glasses and a white jacket
Education Minister Sarah Mitchell says good teachers often have to leave the classroom to receive pay.(ABC News: Rani Hayman)

The NSW government is considering a plan to increase wages for high-achieving teachers in a bid to promote excellence in the classroom.

John Hattie, a world-leading expert on education outcomes and student learning, is providing advice to the government as it seeks to reform the sector.

Under the plan, being finalized by the Department of Education, “outstanding” teachers could receive up to $130,000 per year.

Teachers in NSW start out with a salary of $73,737 and can earn just over $117,000 for lead teacher duties.

To earn more, they need to move into management roles.

Education Minister Sarah Mitchell said the reforms were designed to keep “more of our best teachers in the classroom.”

“This model is not ‘performance pay’, this is about expanding the career options for teachers and keeping our best in the classroom,” she said.

It is hoped a better system for rewarding and retaining top teachers could also help attract more people to the profession.

Meeting over rail union dispute

Rail union leaders are due to meet with the state government later today in a bid to resolve a long-running dispute over the safety of new trains.

The dispute centers around the new intercity fleet (NIF), which arrived in Sydney in 2020 but has been sitting in storage since.

Members of the Rail, Tram and Bus Union have refused to operate the trains, saying guards on them cannot adequately monitor platforms and check that gaps are clear to ensure passengers’ safety.

Earlier this year, the NSW government offered to spend more than $260 million on changes to the new trains.

But the union wants the government to sign an agreement guaranteeing the modifications before negotiations over a new pay deal are completed.

It comes amid a month of industrial action planned by the union, with the first of four planned strikes held yesterday.

New stadium threat to Penrith showgrounds

The NSW upper house has condemned plans to acquire the Penrith Showgrounds to make room for a new football stadium.

One Nation leader Mark Latham moved a successful motion last night denouncing the possible takeover of the 177-year-old showgrounds as “callous.”

He said it would leave many local organizations without a home.

The Penrith showgrounds currently host a harness-racing club, the RSL, the Penrith Agricultural Society and weekly markets.

Last month the showgrounds were served a notice of compulsory acquisition from Infrastructure NSW but the government is adamant no final decisions have been made.

Although other stadium upgrades were recently ditched by the state government, a new stadium to the tune of $300 million is still promised by Penrith.

Man stabbed, car stolen

A bloody rag left lying on the footpath
A man was rushed to hospital after the incident.(ABCNews)

NSW police are investigating a stabbing of a man at a sports field car park in Western Sydney last night.

Emergency services were called to The Kingsway at St Marys at about 11pm.

They found a 32-year-old man with stab wounds to his legs and arm.

He was treated at the scene by paramedics before being taken to Westmead Hospital in a stable condition.

Police were investigating the alleged incident as an assault and carjacking, as the victim’s car was also stolen.

Whale tails pop up around harbor

whale sculpture
Aunty Joanne Selfe with Uncle Graham Toomey and his artwork Whale Dreaming.(Supplied: Whale Tales)

An exhibition featuring 30 two-metre-high whale tail sculptures around Sydney’s western harbor will launch today.

Waterfront Whale Tales, which is expected to attract half a million visitors, is presented as a 6-kilometre harborside trail with sculptures individually created by a diverse collective of 30 artists, including Archibald prize winner Blak Douglas and street artist Scott Marsh.

All tails have a different story or message, with many focusing on the need for environmental protection and action on climate change.

After the exhibition concludes, all the sculptures will be auctioned in September, with the net proceeds going to The Kids’ Cancer Project.

Alex Lehours paints
Artist Alex Lehours paints Poseidon, one of the 30 life-size whale tails.(Supplied: Alex Lehours)

.

Categories
US

Trial over Kobe Bryant crash photos begins : NPR

Firefighters work the scene of a helicopter crash where former NBA basketball star Kobe Bryant died in Calabasas, Calif., on Jan. 26, 2020. Bryant’s widow is taking her lawsuit against the Los Angeles County Sheriff’s Department and Fire Department to a federal jury seeking compensation for photos deputies shared of the remains of the NBA star, his daughter and seven others who died in the crash.

Mark J. Terrill/AP


hide caption

toggle caption

Mark J. Terrill/AP


Firefighters work the scene of a helicopter crash where former NBA basketball star Kobe Bryant died in Calabasas, Calif., on Jan. 26, 2020. Bryant’s widow is taking her lawsuit against the Los Angeles County Sheriff’s Department and Fire Department to a federal jury seeking compensation for photos deputies shared of the remains of the NBA star, his daughter and seven others who died in the crash.

Mark J. Terrill/AP

LOS ANGELES — Kobe Bryant was one of the most photogenic sports figures in Los Angeles and images of him seen by millions around the world — smiling in victory, grimacing in agony — keep his memory alive.

But some photos of him should never be seen, his widow says, and she’s seeking unspecified millions in compensation for snapshots taken of the NBA star’s corpse that were circulated after he was killed in a helicopter crash with their daughter and seven others in 2020.

Vanessa Bryant’s invasion of privacy trial against the Los Angeles County sheriff’s and fire departments began Wednesday in a US District Court just over a mile from where Kobe Bryant played most of his career with the Lakers. A jury was promptly seated in the case, and opening statements were scheduled to start in the afternoon.

Vanessa Bryant claims deputies did not take the photos for investigative purposes and shared them with firefighters who responded to the crash scene. The lawsuit said a deputy showed the photos to bar patrons and a firefighter showed them to off-duty colleagues.

“Mrs. Bryant feels ill at the thought that sheriff’s deputies, firefighters, and members of the public have gawked at gratuitous images of her deceased husband and child,” according to the lawsuit. “She lives in fear that she or her children de ella will one day confront horrific images of their loved ones online.”

Kobe Bryant, his 13-year-old daughter Gianna, and other parents and players were flying to a girls basketball tournament when their chartered helicopter crashed in the Calabasas hills west of Los Angeles in fog. Federal safety officials blamed pilot error for the wreck.

Vanessa Bryant has also sued the helicopter charter company and the deceased pilot’s estate.

The county has argued that Bryant has suffered emotional distress from the deaths, not the photos, which were ordered deleted by Sheriff Alex Villanueva. They said the photos have never been in the media, on the internet or otherwise publicly disseminated and that the lawsuit is speculative about harm she may suffer.

A law prompted by the crash makes it a crime for first responders to take unauthorized photos of deceased people at the scene of an accident or crime.

The county already agreed to pay $2.5 million to settle a similar case brought by two families whose relatives died in the Jan. 26, 2020, crash.

Vanessa Bryant did not settle her case, indicating she’s seeking more.

The litigation has at times been ugly.

When the county sought a psychiatric evaluation of Bryant to determine if she suffered emotional distress because of the photos, her lawyer criticized the “scorched-earth discovery tactics” to bully her and other family members of victims to abandon their lawsuits.

The county responded by saying they were sympathetic to Bryant’s losses and dismissed her case as a “money grab.”

Categories
Business

Heading to Iceland? It may be cheaper to park your plane than your car – report

Parking your own plane costs less than parking a car… but it’s still quite expensive for both!


Budgeting for a trip to the land of fire and ice, and tossing up between taking the private jet or renting a Dacia from Hertz?

In a strange ‘who actually thought to check this’ story, the Icelandic publication Fréttablaðið.is reports it is cheaper to park your personal aircraft than it is to park a car in downtown Reykjavík.

Spending five days on the ground in Iceland, flying a five-seater private jet like an Embraer Phenom 100E will set you back ground fees of ISK35,485 ($AU375).



The fees are based on the aircraft’s weight (the small Phenom has a maximum take-off weight, or MTOW, of 4750kg).

For those running the numbers, you start with a landing fee, which the main Reykjavík airport charges at ISK1330 per tonne ($AU14) to the nearest whole tonne.

Smaller airports are even cheaper, at ISK660 per tonne ($AU7.00). That means our Phenom gets calculated at 5000kg.



Each passenger pays ISK1600 to disembark ($AU17) and then you pay ISK1545 per tonne ($AU16) for the first 24 hours (although the first six hours are free), the same again for the next 24 hours, and then ISK945 ($ AU10) for every 24-hour period after that.

For five days, with landing fees, you get to the ISK35,485 figure quoted by the publication.

At a parking garage in the center of Reykjavík city, the parking fees are calculated at ISK440 per hour ($AU4.70) between 8.00am and 8.00pm, and then an additional ISK210 per hour ($AU2.20) overnight.



At ISK7800 per 24-hour period ($AU82) for five days, the fee comes to ISK39,000 ($AU411) to park your car.

By Australian standards, that’s quite expensive.

We did a quick scan of five-day parking in both Melbourne and Sydney CBD, and the most expensive we could find was $211 for five days at the Wilson Parking on Harrington Street in Sydney.



Even at Melbourne Airport – which isn’t known for cheap parking – five days of valet caps out at $236.

Now, we’re sure you could find a cheaper car hole to ditch the Dacia rental car for a week, and given larger plans like a Dassault Falcon 900 have maximum take-off weights of more than 20,000kg, the aircraft parking fees can get really pricey, really quickly.

However, any hard-working jet wouldn’t be on the ground longer than the initial ‘free’ six hours to get the meter started, let alone ticking for five days anyway.



But in a world where the cost of parking is just another pressure point on the ever-growing list of living expenses, it’s good to know that there are pinches at every point of the economic scale.

Our advice would be to avoid both, by flying commercial and only renting a car for when you’re driving it – but you do you.

James Ward

James has been part of the digital publishing landscape in Australia since 2002 and has worked within the automotive industry since 2007. He joined CarAdvice in 2013, left in 2017 to work with BMW and then returned at the end of 2019 to spearhead the content direction of Drive.

Read more about James Ward LinkIcon

Categories
Sports

Ben Simmons responds to Brooklyn Nets group chat report, Maya Jama break-up

Ben Simmons isn’t naive to the rumors running rampant about his status with the Brooklyn Nets and his relationship with fiancee Maya Jama.

The Nets guard returned to Twitter on Wednesday, following a two-month hiatus, and tweeted, “slow news day”, with a crying-laughing emoji, the new york post reports.

Simmons also re-posted a tweet by Jama, in which the British TV presenter and model wrote “Stop believing ‘sources’ in papers plz”.

Watch Live & Free Coverage of The 2022 NBL1 Championship Season on Kayo Freebies. Join now, no credit card required >

Jama’s tweet came Sunday, a day after reports emerged that she had allegedly called off the couple’s engagement and that the pair were “heartbroken” over the break-up.

Simmons’ tweet could have also been a response to a report from NBA insider Ric Bucher, who claimed the Aussie NBA star left a group chat without replying to Nets teammates who asked him to play in their must-win Game 4 of their playoff series against Boston last season. Brooklyn was swept by the Celtics in the first round.

“They’re having a team chat before Game 4, thinking he’s going to play against the Boston Celtics,” Bucher said on The Herd last week. “From what I’m told, Ben just left the chat.

“They asked him, ‘Are you going to play?’ Ben left the chat. Like he did n’t even answer the question, he just left the chat. And KD (Kevin Durant) is like, ‘This is what I signed up for? This is who I’m playing with?’”

on wednesday, The Athletic’s Shams Charania denied Bucher’s report during an appearance on The Pat McAfee Show.

“This never happened… it’s an amazing story but it didn’t happen,” said Charania.

Simmons also re-tweeted a clip of that exchange, suggesting once again he was bemused by suggestions of his text message etiquette.

A three-time All-Star, Simmons is currently training in New York and continuing recovery from back surgery he underwent in May.

“He’s looking good,” Charania said. “There are high expectations (in Brooklyn) for Simmons. He’s supposed to be ready for training camp … and he’s doing more and more on the court.”

Simmons sat out the entire 2021-22 NBA season due to mental health issues and a lingering back injury, including the first half of the season with the Sixers, and then the remainder of the season after Philadelphia traded him to the Nets for James Harden in February.

Simmons’ latest tweet also came a day after The New York Post confirmed that Durant — who requested a trade out of Brooklyn in June — wants General Manager Sean Marks and head coach Steve Nash gone.

On Monday, The Post confirmed Durant issued an ultimatum to Nets owner Joe Tsai at a face-to-face meeting in London, telling Tsai to choose between him or Marks and Nash.

This story first appeared on the New York Post and was reproduced with permission

Read related topics:Ben Simmons

.

Categories
Australia

Police investigate alleged child abduction at Adelaide school

Police are seeking a masked man after he allegedly tried to abduct a young girl at an Adelaide primary school.

Police were called to Glenelg Primary School yesterday at about 10am after reports the man allegedly grabbed a girl on the arm and then fled the area.

It is believed he broke into the school and walked through the grounds, into the school building, up two sets of stairs and outside a toilet block.

Police are investigating after a man broke into Glenelg Primary School in Adelaide and allegedly tried to abduct a child. (Nine)

The man allegedly grabbed the girl on the arm before he left the area.

Parents from the school told 9News they had been sent a text from education officials about the incident.

“It’s pretty scary… It is a massive concern that anybody from the outside can walk in and get the kids,” one parent said.

Police described the man as being about 180cm tall, bald and was wearing a knee-length light blue shirt, black pants, black face mask and carrying a beanie.

The man allegedly grabbed the arm of a girl at Glenelg Primary School in Adelaide. (Nine)

Officers have spoken with students, staff and parents who were at school at the time of the incident, but are yet to identify any witnesses.

Anyone with information should contact Crime Stoppers on 1800 333 000.