, over a new iteration of cancel culture: their credit cards being docked $50 to $100 if they cancel their restaurant reservations within 24 hours or don’t show up. A cancellation penalty is now commonplace in restaurants, and a widely accepted fact of eating out.On the mean streets of Sydney, meanwhile, stories have emerged of taxi drivers going all Uber on their customers with a surge-pricing model. That is, they have been turning off the meter and negotiating a market price with customers.
The subtext to last week’s federal budget feels to me like the public is being softened up to make sacrifices in the future. The Albanese government knows it will need to demand such sacrifice. But the demand for social justice is now fully intertwined with the demand for budget responsibility – these were dual themes that brought Labor to power in May – and there is zero tolerance for the unfair distribution of discipline and restraint.
It might start with those industries for which conditions improved during the pandemic. According to the For some lucky industries, it is heads they win, tails you lose. When it comes to individual companies, petroleum exporter and producer Woodside and oil and gas producer Santos have benefited with supersized earnings. This builds on the performance of the energy sector during the pandemic. In 2020-21, of theon the Australian sharemarket, the resources sector was by far the best represented , followed by technology and energy .
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