🚀Federal Government Alarmed as Israel and Iran Exchange Retaliatory Strikes, Raising Risks of Regional War
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The S&P/ASX 200 (XJO) closed 74.8 points lower at 7,567.3, midway through the session. In the S&P/ASX 300 (XKO), advancers trailed decliners 41 to 245.
The XJO fell 220.8 points, or 2.9%, for the week.
The Gold (XGD) (+0.79%) sub-index was again the best performer today, likely due to a sharp gold price increase after the Middle East news broke. Since stabilising, gold prices are flat on the session. This forced many ASX gold stocks to close below their highs. [Read more]
💡Evening’s Headlines
A man who was born in Sudan made his court appearance in Melbourne Magistrates Court yesterday, April 18, 2024, where he was accused of violating the curfew requirements imposed by his visa and of neglecting to keep a monitoring device.
Google, Meta, Twitter/X, WhatsApp, Telegram, and Reddit have all received legal notices from Australia's eSafety Commissioner requiring them to provide information on the measures they are taking to shield Australians from violent extremist content and activities, including terrorist threats.
The lawyer for a teenage boy who could be sentenced to life in prison for terrorism related to stabbing a bishop claims that the boy has displayed behaviours suggestive of mental illness or academic disability.
🗳️ AUS POLITICS
Australia "Extremely Concerned" Over Potential Escalation of Conflict in the Region
The Department of Foreign Affairs and Trade (DFAT) in Australia announced that it was "extremely concerned" about the possibility of "further escalation" in the region and urged Australian nationals to evacuate Israel and the Occupied Palestinian Territories.
Australia "remains extremely concerned about the potential for miscalculation and further escalation of conflict in the region," stated Katy Gallagher, acting foreign minister, on Friday. [Read more ]
📠 BUSINESS
ASIC Chair Warns of Importance of Fraud Controls After Macquarie Bank's $10 Million Fine
Macquarie Bank Ltd. has been ordered by the Federal Court to pay a $10 million penalty for failing to implement adequate controls to stop and identify unauthorised fee transactions on customer cash management accounts that were carried out by third parties, like financial advisers, using Macquarie's bulk transacting facility.
Joe Longo, the chair of ASIC, stated, "This case sends an important message to financial institutions and other financial service licensees that they must have appropriate controls in place." Fraud controls are becoming more and more important. [Read more]
🔬SCIENCE
Large-scale genetic study finds new link between Irritable Bowel Syndrome and the cardiovascular system
New research published today in the journal Cellular and Molecular Gastroenterology and Hepatology sheds light on disease mechanisms common to irritable bowel syndrome (IBS) and cardiovascular diseases (CVD).
Led by Dr Leticia Camargo Tavares, a Postdoctoral Fellow at the Hypertension Research Laboratory within Monash University’s School of Biological Sciences, the study reveals novel insights into the genetic underpinnings of IBS, offering potential avenues for therapeutic intervention.
IBS is one of the most prevalent gastrointestinal disorders globally, affecting up to 10 per cent of the population, with a disproportionate impact on women.
It is characterised by a complex range of symptoms including abdominal pain, bloating, diarrhea and constipation. IBS significantly compromises patients’ quality of life. Despite its widespread prevalence, the cause of IBS remains unclear, thus limiting treatment options.
An international consortium of researchers, drawing expertise from Monash University (Australia), CIC bioGUNE (Spain), LUM University, IRGB-CNR, CEINGE, and the University of Naples Federico II (Italy), as well as the University of Groningen (Netherlands), embarked on a comprehensive investigation.
Analysing data from two large European population cohorts — UK Biobank and Lifelines — the team scrutinised the genetic landscapes of 24,735 people with IBS and 77,149 symptom-free individuals.
Their analysis uncovered four genomic regions, including two previously unidentified loci, associated with increased susceptibility to IBS.
These genetic hotspots implicate pathways central to gastrointestinal motility, intestinal mucosal integrity, and circadian rhythm regulation.
“Although we're yet to conclusively pinpoint specific genes and mechanisms, these findings provide novel insights into IBS pathophysiology, highlighting potential therapeutic targets. So, we expect follow-up research to build on these discoveries,” Dr Tavares said.
Moreover, the researchers found a remarkable link between IBS predisposition and various cardiovascular ailments, encompassing hypertension, ischemic heart disease, and angina pectoris.
Professor Mauro D’Amato, senior author and study supervisor from CIC bioGUNE and LUM University, described this new evidence as the most exciting outcome, underscoring the potential for shared therapeutic modalities.
In another important finding, the study revealed that IBS heritability (the weight of genes in determining one’s risk of disease), might be higher than previously thought. This, the authors say, may stem from their adherence to standardised classification criteria in delineating IBS phenotypes, notably the Rome Criteria from the Rome Foundation.
🥫CONSUMER
🖥️ Technology
China's Internet Regulator's Order to Remove WhatsApp and Threads Comes Before Potential TikTok Ban in US
There will be no more WhatsApp and Threads available for download from the App Store for Apple users in China, as reported by The Wall Street Journal and The New York Times.
The company claimed that it removed the apps from the store in accordance with directives from China's internet regulator, the Cyberspace Administration, "based on [its] national security concerns." The publications were informed that it is "obligated to follow the laws in the countries where [it operates], even when [it disagrees]." [Read more ]
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🌎 World Tonight
A suicide bomber detonated his vest near a van carrying Japanese autoworkers in Karachi, Pakistan, Friday, wounding three bystanders. Police said they narrowly escaped. [AP]
A US official told CNN that Israel launched a military strike inside Iran, escalating a fast-growing Middle East conflict that Iranian officials have downplayed.[CNN]
UN Secretary-General António Guterres told the Security Council on Thursday that recent Middle East escalations make it even more important to support lasting peace between Israel and a fully independent, viable, and sovereign Palestinian state. [UN]
🏅 Fact Check
What's the deal with social media and youth mental health?
Increasing use of social media and smartphones often cops the blame for an increase in youth mental health issues but the reality is not so simple.
We are in the middle of a mental health crisis.
Two new studies show that Americans are more worried about their mental health than their physical health. In the UK, research by King's College London found people of all ages agree that young people are struggling with their mental health, with parents blaming the COVID pandemic. In Australia, mental health services are in a ‘constant state of crisis’.
The trend has been around for some time, however, with significant increases in mental ill-health over the past two decades.
In Australia, these spikes in psychological distress (a general indicator of mental ill-health) are driven by “millennials” and “Gen-Zs”.
The most recent Australian data shows that 40 percent of 16 to 24-year-olds (Gen Z) experienced a mental disorder in the preceding 12 months, an increase from 26 percent in 2007. [ Read more]
📰 Good News, Inspiring, Positive Stories
Free literacy program paving a brighter future for Far West kids
A program providing Far West infants and toddlers with a free book a month has the potential to lift childhood literacy and help set the region’s young people on the path to success.
President of the Law Society of NSW Brett McGrath has praised the impact of Dolly Parton’s Imagination Library during a Rhyme Time session at the Broken Hill City Library.
“I’ve had the honour of five years of active involvement with United Way Australia (UWA), the charity which delivers the Imagination Library in Australia. The simple act of providing a free high-quality, age-appropriate book a month for every baby until they turn five has the potential to unlock brighter futures for those involved,” Mr McGrath said.
“Lawyers who work on the coal face in criminal law, family law and the child protection system often see the results of poor literacy, which can lead to poor educational, employment and social outcomes, including contact with the criminal justice system.”
The Imagination Library has operated in Broken Hill and the Central Darling Shire since January 2022 and presently provides free books for 419 children in Broken Hill, as far afield as White Cliffs and other Far West communities.
Mr McGrath said his decision to back UWA as his President’s Charity for 2024 was reinforced recently by academic research into its Imagination Library program in Tamworth.
The Macquarie University research found ‘improved emerging language and literacy skills’ in three-year-old children when they are read to every day or more. Three quarters of the participating children at this age are requesting daily reading sessions.
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