29 March 2024
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AP Photo/Michel Euler

5 things you need to know today

Switzer Daily
2 March 2021

1. Aged care royal commissioners split on recommendations

The Royal Commission into Aged Care has presented two opposing views from Tony Pagone QC and Lynelle Briggs QC on whether the Australian Aged Care Commission should be established to lead reforms in the sector or whether the Department of Health should remain in charge. While the two royal commissioners agreed that the sector needs additional funding, Pagone recommended that the Productivity Commission investigate and set the levy while Briggs proposed a flat 1% levy on income tax.

2. Queensland and Victoria lag on vaccinations

Victoria and Queensland have administered 30% and 22% of the COVID-19 doses available at state-based Pfizer hubs respectively according to data from the Department of Health published by The Australian. New South Wales has administered 74% of vaccinations, while Tasmania is leading the states with almost 100% of all vaccines administered.

3. Former French president Nicolas Sarkozy found guilty of corruption

A Paris court has found Nicolas Sarkozy, who served as French president between 2007 and 2012, guilty of trying to bribe a magistrate to gain information on an inquiry into the financing of his 2007 presidential campaign. The court handed down a three year prison sentence with two years suspended and Sarkozy, who is expected to appeal the ruling, would be able to serve the remaining year under house arrest.

4. Taiwan encourages citizens to eat more pineapples

Taiwanese President Tsai Ing-wen has encouraged people in Taiwan to buy and eat more pineapples after imports into mainland China were banned. "China sent an ambush-like notice, unilaterally suspending the imports of Taiwan pineapples. This obviously was not a normal trade decision," President Tsai posted on Facebook, adding: "To support the farmers, let's eat pineapples all together!"

5. Wall Street starts off the week with a bang

Stocks surged in the US overnight, with the Dow Jones rising 603.14 points or 1.95% to 31,535.51. The S&P 500 gained 90.67 points or 2.38% to 3,901.82, which CNBC noted was the index's biggest gain since June 5 last year. The Nasdaq rose by 396.48 points or 3.01% to 13,588.83.

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