Vanguard to close most of its institutional business in Australia; focus on retail

FILE PHOTO: People are seen at a booth of Vanguard Group at a fair during the INCLUSION fintech conference in Shanghai, China September 24, 2020. REUTERS/Cheng Leng

SYDNEY (Reuters) – Vanguard Group Inc said on Wednesday it will close most of its business managing money for institutional investors and large pension funds in Australia and New Zealand, and focus on serving retail clients.

The U.S. investments giant, which has roughly A$164 billion ($118 billion) in assets under management in Australia, will stop offering customised products called segregated mandated accounts (SMA) to large institutional investors.

The exit comes as Australia’s pension funds, which make up the world’s third-largest pool of pension assets, have moved towards managing a larger portion of their investments internally to lower costs. This has intensified competition for investment mandates and forced the closures of several funds.

The Pennsylvania-headquartered manager will continue to offer some investment products that

Read More
Read More

Galaxy Next Generation Expands to Australia with New Distribution Partnership with Technology Core, Inc.

TOCCOA, GA / ACCESSWIRE / September 30, 2020 / Galaxy Next Generation, Inc. (OTCQB: GAXY ) (“Galaxy” or the “Company), a provider of interactive learning technology solutions, is pleased to announce its signing of a new distribution agreement with Technology Core, Inc. The distribution agreement expands the availability of Galaxy’s Intercom and Paging solution to Australia’s more than 10,000 registered schools.

Technology Core, Inc., Australia’s top interactive solutions provider, will be selling and distributing Galaxy’s Intercom and Paging solution under their brand of “HDi” as well as an OEM classroom audio version for their brand.

Gary LeCroy, Galaxy’s Chief Executive Officer, commented, “We are excited about this new partnership and the opportunity to expand our distribution channel into Australia. The competitive landscape in Australia is unique and the demand for intercom and audio in the classroom is increasing. We look forward to ramping our sales outside of the U.S.”

About

Read More
Read More

How Coal-Loving Australia Became the Leader in Rooftop Solar

CAIRNS, Australia — Australia is the world’s second-largest exporter of coal, which plays an outsize role in its economy and politics. But the country has also quietly become a renewable energy powerhouse.

About one in four Australian homes have rooftop solar panels, a larger share than in any other major economy, and the rate of installations far outpaces the global average. The country is well ahead of Germany, Japan and California, which are widely considered leaders in clean energy. In California, which leads U.S. states in the use of solar power, less than 10 percent of utility customers have rooftop solar panels.

Most Australians who have embraced solar do not appear to have done so for altruistic reasons like wanting to fight climate change. Many are responding to incentives offered by state governments in the absence of a coordinated federal approach, a sharp drop in the price of solar panels

Read More
Read More

Australia says majority of 470-strong beached whale pod has died

By Byron Kaye

SYDNEY (Reuters) – The majority of a 470-strong pod of pilot whales found stranded off Australia’s remote southern coast has died, officials said on Wednesday, as rescuers struggled in freezing waters and fading light to free those still alive.

The group, which is the biggest beaching in the country’s modern history, were first spotted a wide sandbank during an aerial reconnaissance of rugged Macquarie Harbour in Tasmania state on Monday.

After two days of a difficult and dangerous rescue attempt, state marine scientists said at least 380 of the long-finned pilot whales had died.

By late Wednesday, around fifty of the mammals were freed but experts said there was a high likelihood they would return as many did during the rescue attempt a day earlier, creating an exhausting loop for rescuers who cannot work through the night.

The outlook for the remaining 30 stranded and still alive

Read More
Read More

Australia saves 25 stranded pilot whales, rescue efforts continue

By Byron Kaye

SYDNEY (Reuters) – Rescuers set free around 25 whales on Tuesday that were marooned on a sandbar off the remote west coast of Tasmania in one of Australia’s worst beaching events, and hope to save more in coming days.

Government scientists said about 90 of the 270-strong pod of pilot whales have died since they were spotted from the air in shallow water off the rugged coastline on Monday.

Footage showed large numbers of the animals prone on a wide sandbar at Macquarie Harbour, about 200 kms (120 miles) northwest of the state capital Hobart, while others floundered in slightly deeper water.

Rescuers had to get in the icy water to attach the whales, a species of oceanic dolphin that grow to 7 metres (23 ft) long and can weigh up to 3 tonnes, to slings and then guide the animals as boats dragged them out to

Read More
Read More

Hopes fade for stranded whales in Australia [Video]

SHOTLIST

MACQUARIE HARBOUR, AUSTRALIASEPTEMBER 24, 2020SOURCE: AFPTV

1. Wide shot a stranded whale lies still in the shallow water2. Mid shot rescuers move a whale from a trailer back into deeper water3. Mid shot rescuers stand with a whale4. Mid shot a stranded whale splashes in the shallows5. Mid shot rescuers stand with a whale

///———————————————————–AFP TEXT STORY:

newseriesHopes fade for more survivors in Australia mass whale stranding By Mell Chun, with Andrew Beatty in Sydney

=(Picture+Video+Graphic)=

ATTENTION – ADDS quotes from rescuer, local community ///Macquarie Harbour, Australia, Sept 24, 2020 (AFP) – Only a few dozen of the 470 whales stranded on Australia’s coast can still be saved, rescuers warned Thursday, as they weighed euthanising those animals in most distress. At least 380 pilot whales have died since their pod was discovered beached on Tasmania’s rugged western seaboard four days ago — Australia’s largest-ever mass stranding.Around 70 of the

Read More
Read More

Uluru climb pictures to be removed from Google after Australia complains

Google Maps currently hosts several user-uploaded images from the top of the site, taken before the ban came into place, as well as a Street View path recorded by a climber in 2018.

But Parks Australia, which looks after the country’s natural treasures, has asked the tech giant to take down pictures uploaded by users after complaints from the Anangu Aboriginal people, Uluru’s traditional owners.

Tourists were prohibited from traversing the sacred site in late 2019 after the Anangu people said it was being trashed by visitors eroding its surface, dropping rubbish and polluting nearby waterholes.

Tourists climb Uluru before the ban came into place.

Tourists climb Uluru before the ban came into place.

TORSTEN BLACKWOOD/AFP/AFP/Getty Images

Google is “supportive of this request and is in the process of removing the content,” Parks Australia said in a statement. CNN has contacted Google for comment.

“Parks Australia alerted Google Australia to the user-generated images from the Uluru summit that have

Read More
Read More

Australia Says Majority of 470-Strong Beached Whale Pod Has Died | World News

SYDNEY (Reuters) – The majority of a 470-strong pod of pilot whales found stranded off Australia’s remote southern coast has died, officials said on Wednesday, as rescuers struggled in freezing waters and fading light to free those still alive.

The group, which is the biggest beaching in the country’s modern history, were first spotted a wide sandbank during an aerial reconnaissance of rugged Macquarie Harbour in Tasmania state on Monday.

After two days of a difficult and dangerous rescue attempt, state marine scientists said at least 380 of the long-finned pilot whales had died.

By late Wednesday, around fifty of the mammals were freed but experts said there was a high likelihood they would return as many did during the rescue attempt a day earlier, creating an exhausting loop for rescuers who cannot work through the night.

The outlook for the remaining 30 stranded and still alive pilot whales, a

Read More
Read More

Australia Asks Google to Block Users ‘Walking’ Sacred Site | World News

SYDNEY (Reuters) – Australia has asked Google to remove photographs of the top of the sacred Indigenous site, Uluru, a tool that allowed users to appear to walk on its summit.

Australia in 2019 closed Uluru, formerly known as Ayers Rock, after a decades-long campaign by indigenous communities to protect it.

Parks Australia, which is responsible for the national park where Uluru is located, said Google images contains photographs of the sacred site, which effectively defies the ban.

“Parks Australia…requested that the content be removed in accordance with the wishes of Anangu, Uluru’s traditional owners, and the national park’s guidelines,” a spokeswoman for the governing body said.

The Anangu people, the traditional owners of Uluru, have called for the climb to be closed since 1985, when the park was placed in indigenous hands, due to its spiritual significance as a route their ancestors took.

Google did not immediately respond to

Read More
Read More