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Jimmy Carter: Many evolutions for a centenarian ‘citizen of the world’Community members rallied outside Northern Territory Parliament House in opposition to the Country Liberal Party’s (CLP) on November 26. The CLP intends to give the Chief Minister and a public servant unprecedented powers to override NT laws. It claims it is delivering on an election promise to rebuild the economy and unlock and accelerate critical investment and economic development . The Territory Coordinator proposal ensures First Nations people will be ignored when it matters most. It has no qualms using its mantra to secure its power grab, dismissing First Nations voices and solutions. “Elected for the people, by the people, to benefit themselves,” senior Larrakia man Eric Fejo said. “That’s what the Northern Territory has become.” Activists from different campaign groups spoke, illustrating the connection of environment and social justice issues. “This affects black families,” said long-time youth justice campaigner Natalie Hunter, who also condemned Labor’s treatment of children in detention. “Now we find ourselves again facing the most vile, shameless and reprehensible politicians in the Northern Territory. “The CLP went to the election on a race platform, centred around even more extreme attacks on Black children. In the Northern Territory, Black children are dehumanised at every turn.” “These two will have the power to speed up environmental approvals, to undertake environmental assessments themselves and, in some cases, to exempt some of the most destructive projects in the country from environmental laws altogether,” said Dr Kirsty Howey, Environment Centre NT director. The Territory Coordinator proposal is a huge concession to big business. If passed, the law could allow a rise in air pollution from volatile organic compounds, poisoned aquifers and more land clearing. “What we know about this law so far is terrifying in terms of its breadth and its reach,” said Independent MLA Justine Davis. “It gives pretty much unlimited power to an unelected bureaucrat to do whatever they want.” The will come to parliament next year. Meanwhile, the CLP Stuart Knowles, a former general manager of INPEX, Japan’s largest oil and gas company, to an interim role. INPEX, which has a facility in Darwin Harbour, has a of releasing toxic chemicals into the air. “At the stroke of a pen, we’ve got old gas man from across the harbour and our Chief Minister, just dictating to us and making decisions without community consultation,” said pastoralist Daniel Tapp. Tapp said the Territory Coordinator proposal places water security at greater risk from fracking projects. “There’s already reports and evidence of water contamination, breaking rules.” Despite this, Tapp said drilling operations have continued: “No fine; business as usual.” The CLP’s plan guarantees big profits at the expense of the environment and livelihoods. “We cannot let the Territory become an out-and-out authoritarian state,” said Save Lee Point campaigner Jess Black. She said it was already difficult to hold developers to account under NT law, after the NT’s Development Consent Authority Defence Housing Australia for illegally clearing land at Binybara/Lee Point. The Larrakia-led to protect this significant site is ongoing. A petition against the Territory Coordinator is . Greens MLA Kat McNamara tabled a hard copy in parliament which included more than 1000 signatures. The CLP was forced to undertake a public consultation on the Territory Coordinator bill after a secret consultation paper , which generated community outrage. [Submissions to the Territory Coordinator bill can be made until January 17, 2025.]

Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week. The decline ended the Dow Jones Industrial Average's five-session winning streak that had followed a 10-session decline, its worst losing stretch since 1974. According to preliminary data, the S&P 500 lost 65.34 points, or 1.08 per cent, to end at 5,972.25 points, while the Nasdaq Composite lost 294.69 points, or 1.47 per cent, to 19,725.67. The Dow Jones Industrial Average fell 321.73 points, or 0.74 per cent, to 42,992.58. "Today feels like there is quite a bit of profit-taking across the board," said Michael Reynolds, vice president of investment strategy at Glenmede. "We are more than two years into a pretty strong bull market ... so it's really not surprising to see some people taking their profits and rebalancing their portfolios ahead of the new year." The sell-off thwarted the seasonal Santa Claus rally, in which stocks traditionally rise during the last five sessions of December and the first two of January. Since 1969, the S&P 500 has climbed 1.3 per cent on average, according to the Stock Trader's Almanac. Thursday's session hinted at momentum stalling, with both the S&P 500 and Nasdaq posting marginal losses to end multi-session winning runs. Rising US Treasury yields had been catching investors' attention, with the benchmark 10-year note hitting a more than seven-month high in the previous session. The yield hovered close to that mark on Friday, at 4.62 per cent. Higher yields are seen as hampering growth stocks, as they raise borrowing costs for business expansion. These stocks, especially the so-called Magnificent Seven technology megacaps which had been key drivers of the market's 2024 rally, were also caught up in Friday's sell-off. For the second successive day, Tesla led decliners among the group. "We have a higher cost of capital whenever rates go up like this, and they have gone up pretty significantly over the last month or so," said Glenmede's Reynolds. "Investors may just be reassessing the bets they are taking when the cost of capital is higher, perhaps looking at some of the valuations on the Mag 7 and wondering whether they can find better value elsewhere." Most of the 11 major S&P sectors fell. The worst performers on Friday were the three indexes which have been 2024's leading lights: consumer discretionary, information technology and communication services. Despite Friday's travails, all three indexes recorded weekly gains. News events helped some stocks to buck the market sell-off. Amedisys gained after the home health service provider and insurer UnitedHealth extended the deadline to close their $US3.3 billion ($A5.3 billion) merger. Lamb Weston climbed after a filing showed activist investor Jana Partners is working with a sixth executive to push for changes at the French fry maker, a move which could result in a majority of the company's board being replaced. Trading volumes in this holiday-shortened week have been below the average of the last six months and are likely to remain subdued until January 6. The next major focus for markets will be the December employment report due on January 10.

Enjoy $10 off every $50 in gift cards Black Friday through Cyber Monday Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Top trending stories from the past week. News, Sports, and more throughout the week. The week's obituaries, delivered to your inbox.The Government has announced it is doubling funds to support workers and businesses affected by job losses at a giant Tata steel plant. Ministers said an extra £15 million will be made available for supply chain businesses and workers affected by changes at Tata’s Port Talbot site in south Wales. Welsh Secretary Jo Stevens said the move means a fund to support businesses across Wales heavily reliant on Tata steel will be increased to £30 million. She also announced that more businesses will be able to apply for the funds, and the value of individual grants is increasing to up to £250,000 for businesses to invest in equipment, property, technology. The Government said there has been “significant demand” on the existing funding, with almost 40 businesses employing 2,000 people having begun the application process. Grants worth millions of pounds are expected to be released in the new year. The increase in funding is in anticipation of more people leaving Tata in early 2025 through the company’s voluntary redundancy scheme. Ms Stevens said: “This Government is acting decisively to support workers and businesses in Port Talbot. “We are doubling the funding available to businesses and workers and widening access to grants to ensure we support as many people as possible. “In just four months we have announced more than £40 million in investment. We said we would back workers and businesses affected by the transition at Port Talbot and we are doing exactly that. “While this remains a very difficult time for Tata workers, their families and the community, we are determined to support workers and businesses in our Welsh steel industry, whatever happens.”

Ministers said an extra £15 million will be made available for supply chain businesses and workers affected by changes at Tata’s Port Talbot site in south Wales. Welsh Secretary Jo Stevens said the move means a fund to support businesses across Wales heavily reliant on Tata steel will be increased to £30 million. She also announced that more businesses will be able to apply for the funds, and the value of individual grants is increasing to up to £250,000 for businesses to invest in equipment, property, technology. The Government said there has been “significant demand” on the existing funding, with almost 40 businesses employing 2,000 people having begun the application process. Grants worth millions of pounds are expected to be released in the new year. The increase in funding is in anticipation of more people leaving Tata in early 2025 through the company’s voluntary redundancy scheme. Ms Stevens said: “This Government is acting decisively to support workers and businesses in Port Talbot. “We are doubling the funding available to businesses and workers and widening access to grants to ensure we support as many people as possible. “In just four months we have announced more than £40 million in investment. We said we would back workers and businesses affected by the transition at Port Talbot and we are doing exactly that. “While this remains a very difficult time for Tata workers, their families and the community, we are determined to support workers and businesses in our Welsh steel industry, whatever happens.”