☕️ Labor's major childcare pledge

We’re so close to the finish line. As Dory says, just keep swimming!

“I’ve got lots of thoughts about this judgment, as you can probably well imagine. I was personally quite horrified by that, by those comments.”
Victorian Premier Jacinta Allan on a recent Victorian Supreme Court judgement in a class action case brought over a contraceptive device. The judge found the pain the complainants allegedly experienced from the device “commonly affect[s] women of reproductive age.”

7.8%
The increase in parcels in Australia during the Black Friday/Cyber Monday sales, compared to last year, according to Australia Post.

1913
The Mona Lisa painting was recovered in Italy after it was reported stolen in August 1911. The convicted thief, Vincenzo Perugia, was sentenced to a year and 15 days in prison.

An election promise from Prime Minister Anthony Albanese would give most preschool-aged children three days of subsidised early childhood education per week.

Families earning a combined annual income of $530,000 or less would be eligible for the three-day subsidy.

The next Federal Election must be held by May 2025.

If Labor wins the next election, it plans to remove the existing ‘Activity Test’, which awards hours of subsidised childcare based on how much parents work and earn.

Instead, the Government says it wants to set up a “universal” early education system, beginning with three subsidised days per week for families earning less than $530,000 annually.

Additionally, the Government plans to dedicate $1 billion to “build” and “expand” childcare centres.

The Australian Education Union (AEU) welcomed the policy proposal, but called for better conditions for early childhood educators.

AEU President Correna Haythorpe said: “Early childhood educators and teachers are central to the success of this policy.”

She said the Government needs to ensure “fair pay, improved working conditions, and professional development opportunities” for educators.

The Activity Test was introduced under the previous Coalition Government in 2018.

In a statement, the Coalition Opposition criticised Labor’s election pledge. It said removing the test “benefits a small number of families, at the expense of hundreds of millions of dollars to the taxpayer.”

Shadow Early Childhood Education Minister Angie Bell said this policy would “increase demand in a sector that is already at capacity”.

Reporting by Nandini Dhir.

The corporate regulator has announced it’s suing Rex for “misleading and deceptive conduct”.

The Australian Securities and Investments Commission (ASIC) claims the airline failed to disclose its financial troubles before it entered voluntary administration in July.

ASIC has launched legal action against Rex and several of its directors — who it alleges unreasonably and unlawfully exaggerated Rex’s forecasted profits.

Last month, the Federal Government announced an $80 million bailout for Rex to continue operating its regional routes.

Rex is Australia’s only independent commercial domestic airline. It began operating in 2002.

The airline struggled to recover from the pandemic and faced a major reshuffle of its board of directors earlier this year. Rex entered voluntary administration in July, laying off more than 600 workers.

Voluntary administration means a company can’t afford to pay its debts, and has appointed an independent body to take control of its operations.

Before its shares were suspended from trading in July, Rex was a publicly listed company on the Australian Securities Exchange (ASX).

Companies listed on the ASX are subject to certain market regulations and obligations to investors, such as publishing regular financial updates.

These requirements are enforced by ASIC — Australia’s integrated corporate, markets, financial services and consumer credit regulator.

ASIC has filed a case in the NSW Supreme Court, accusing Rex of “misleading and deceptive conduct” and breaching its ASX obligations.

The lawsuit centres around a February 2023 ASX announcement from Rex, which said it was “optimistic the Group will have positive operating profits” for 2022/23.

The airline went on to report a $35 million loss for that financial year.

ASIC alleges Rex was aware it was “unlikely to achieve” a profit, and “did not have a reasonable basis” for its claim.

The lawsuit also named four Rex directors who worked at the airline at the time of the ASX announcement, including former Executive Chair, Lim Kim Hai.

ASIC has accused the directors of “serious governance failures” and breaching their duties.

“They failed to take steps to ensure the market had accurate information about the company’s financial performance,” ASIC chair Joe Longo said.

“We will seek to hold [Rex] to account.”

ASIC is seeking financial penalties and legal disqualifications against the four directors from managing corporations. It is not pursuing financial penalties against Rex Airlines.

Financial services firm Ernst and Young (EY) took over as administrator in July.

An EY spokesperson told TDA “it would be inappropriate” for Rex or the administrators to comment on the case, as it’s before the courts.

Longo said “continuous disclosure of market-sensitive information,” is fundamental to “supporting a fair and efficient financial system”.

Reporting by Achol Arok.

Betty’s will be shouting burgers for their new app users this December!

With Betty’s Burgers new Beach Club Rewards App, you’ll earn $1 for every $10 spent, plus birthday treats and app-only perks. Just scan your membership card in the app and watch the rewards stack up!

The best part? Spend $30 before December 24th, and Betty’s will shout you a Classic Burger.

Download the app today and start making every Betty’s visit even better!

🍊 A former England rugby player is missing. More details here.
🍊 Olympic cyclist Rohan Dennis pleaded guilty to a lesser charge.
🍊 An American swimmer broke a 15-year-old world record.
🗞️ Also in the Sport Newsletter: soccer, a random fact and more…

Microplastics are tiny fragments. They can be manufactured deliberately or can come from bigger pieces of plastic breaking down. Microplastics have been found in the human body and in animals and other wildlife. Now, a team of scientists have developed a replacement for microplastic particles for use in health and beauty products, like cleansers. The new biodegradable materials break down over time into harmless elements. Testing found they were more effective at removing makeup than actual microplastics. The scientists will trial the new system on humans next year. 

Reporting by Lucy Tassell.

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Do you remember how old you were when you figured out that Santa Claus wasn’t real?

A Christmas event in Hampshire, UK, has left children in tears after featuring a blatantly fake Santa.

The event went so poorly that the Hampshire Cultural Trust – which hosts the annual event – has offered customers a refund.

The organisers issued a statement apologising about the quality of this year’s Santa, saying it’s “aware that some of our customers have expressed disappointment” and that this year is “a different experience to the one offered last year”.

Looks like this fake Santa might be on the real Santa’s naughty list.

Reporting by Nandini Dhir.

This week, rapper Jay-Z has been accused of raping a 13-year-old girl in 2000 alongside Sean Combs, who also goes by P Diddy, in a civil lawsuit filed in the U.S. over the weekend.

Jay-Z has vehemently denied the allegation, as has Combs.

It’s the latest in a string of allegations that have centred around Combs, but it’s the first time we’ve heard any such allegation against Jay Z.