News Beyond Markets || Which Coronavirus Variant Is Behind The Latest Outbreak In Melbourne?

Welcome to News Beyond markets – a special show that will get you all the news that matters to kickstart your day.  

• First up on news that matters is an update on the deadly coronavirus outbreak. Australia's Victoria state authorities said on Friday that a genomic sequencing has been detected for the first time in the state.  The Delta COVID-19 virus variant is among infections in the latest virus outbreak in the state capital of Melbourne. 

• Victoria state Chief Health Officer Brett Sutton said that the new variant is the Delta variant, which is now infamous in India and is increasingly found in the United Kingdom. It is a variant of significant concern. 

• An Australian court has ordered a dozen media firms to pay a total of A$1.1 million in fines for breaching a suppression order. The suppression order was on reporting the conviction of former Vatican treasurer George Pell for child sexual assault. 

• The 12 media outlets, mostly owned by Nine Entertainment Co and Rupert Murdoch's News Corp, were pleaded guilty in February for breaching the gag order on reporting on the trial and conviction of the cardinal.

• Regulators in Australia are reiterating the importance of ensuring a timely transition away from the London Interbank Offered Rate. This requires ceasing the use of LIBOR in new contracts before the end of 2021.

• Pell's conviction for abusing two choirboys was overturned in April last year after he was jailed for more than a year. He was the most senior Catholic church official to have gone to prison for child sex assault. 

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