May 17


Investing

World's richest lose $47b with market drop overnight

17 May 2017 | SMH

The world's richest people lost $US35 billion ($47 billion) when global equity markets were rocked overnight by political turmoil in the US, according to the Bloomberg Billionaires Index.


Australian Bankers Association examines pitches for tax campaign

28 May 2017 | AFR

As a parliamentary inquiry into life insurance continues to hear shocking misconduct revelations and NAB became embroiled in a new scandal at the weekend, the banks' mouthpiece, the Australian Bankers' Association, has been interviewing agencies as they consider a new campaign.


Fairfax Media receives competing bid from Hellman & Friedman

17 May 2017 | AFR

Fairfax Media has received a competing bid from global private equity firm Hellman & Friedman valuing the publisher at up to $2.87 billion.

From global private equity firm Hellman & Friedman, the bid is for a range of $1.225 to $1.25 per share, compared with the TPG consortium proposal of $1.20.





Save for a home without ditching coffee

15 May 2017 | Domain

While saving for a home requires cutbacks on luxuries, which is something you’re no doubt sick of hearing, it’s definitely okay – and important even  – to have at least one thing you indulge in. Life is short after all, so it must be enjoyed!


Mining company BHP drops Billiton from name in $10m ad campaign

15 May 2017 | Guardian Australia

BHP Billiton, the world’s biggest miner is rebranding, changing its name back to just BHP from this week.

The company is rolling out a $10m advertising campaign that includes television ads and a new slogan, “Think Big”, to facilitate the change.


Fairfax boss Greg Hywood was paid as much as $7.2m in 2016

10 May 2017 | The Guardian

The Fairfax Media chief executive, Greg Hywood, was paid as much as $7.2m in 2016 – substantially more than the $2.74m reported by the company in its last executive pay rundown.


Fairfax Media confirms private equity bid for flagship titles

07 May 2017 | Guardian Australia

Fairfax Media has confirmed private equity company TPG Capital has made an unsolicited approach to buy its three key metro newspapers and online real estate arm Domain.

The US-based firm has put forward a proposal to buy the Sydney Morning Herald, the Age and the Australian Financial Review, along with Domain, in a deal estimated to be worth about $2.5bn.


Fairfax's decline, a 25 per cent cut to editorial staff

03 May 2017 | ABC

The company had around 1,000 editorial staff in 2011. After the latest round of redundancies announced on Wednesday, which will cut 125 jobs, roughly only 375 editorial staff will remain.


News

Confessions of an overconfident, mediocre man

28 May 2017 | ABC

I can't really put my finger on the precise moment I embraced my own male mediocrity. It was more a dawning realisation.

Be it striding confidently onto stage to deliver a lecture with minimal preparation, having the sheer audacity to think I can pull off live TV or radio, or even sharing my thoughts with you here, its warm embrace is always with me.


Department of Prime Minister and Cabinet paid alleged tax fraud company $1.3m

24 May 2017 | The Age

The Department of Prime Minister and Cabinet paid $1.3 million through recruitment firms to the company at the centre of what is allegedly one of the largest tax frauds in Australian history, a Senate estimates committee has heard. 


Getting Julian Assange: The Untold Story

21 May 2017 | New Matilda

The hunt for the Wikileaks founder has been a brutal and corrupt assault on freedom of speech from the beginning, writes John Pilger.

Julian Assange has been vindicated because the Swedish case against him was corrupt. The prosecutor, Marianne Ny, obstructed justice and should be prosecuted. Her obsession with Assange not only embarrassed her colleagues and the judiciary but exposed the Swedish state’s collusion with the United States in its crimes of war and “rendition”.

 


Tax Office deputy commissioner linked to country's biggest tax fraud

17 May 2017 | AFR

Michael Cranston's illustrious 35-year career at the Trax Office suffered a major blow when he learned his son had been arrested over his involvement in one of the country's biggest white-collar crimes.


Cassie­ Sainsbury demands taxpayer help

07 May 2017 | The Australian

Accused drug-smuggler Cassie­ Sainsbury’s lawyers are asking Australian taxpayers to help pay for her legal costs as she faces charges in Colombia.


Schools funding: Malcolm Turnbull dubs new $19b education policy

02 May 2017 | The Age

Prime Minister Malcolm Turnbull has declared he will "bring the school funding wars to an end" in a stunning policy turnaround that will see the federal government pump an extra $19 billion into schools over the next decade.


Latest updates on Manchester

23 May 2017 | Kelly Hughes

As the horror of the Manchestor attacks begin to unfold, the Islamic State of Syria (ISIS) claims responsiblity for the senseless act of violence.

The attack has killed 22 people and injured 59, with children among the dead.


Economics

Australia's lowest earners hit hard by penalty rate cuts

28 May 2017 | Kelly Hughes, Charlotte Lemmon, Lexi Denison, Ainslie Couper

The Fair Work Commission, with the support of the Turnbull government, has made a hallmark decision to cut penalty and Sunday pay rates.

This decision affects those working across the retail, hospitality, fast food and pharmacy sectors and is expected to hit hundreds of thousands of low earning Australians.


Unemployment falls to 5.7% in April

17 May 2017 | SMH

Australia's unemployment rate fell to 5.7 per cent in April, official figures show, beating expectations of a flat rate of 5.9 per cent.

The total number of people with jobs rose by 37,400 in the month, the Australian Bureau of Statistics said on Thursday.


Budget 2017: Shorten’s reply speech shows dangerous new political reality

16 May 2017 | The Australian

Australian politics is now a race to the bottom of the economic canyon.

Bill Shorten’s budget reply speech tonight crystallised the dangerous new political reality in Australia.


Wage growth set to stall at all-time low

16 May 2017 | SMH

Real wage growth has fallen into negative territory and stalled at an all-time low, figures to be released on Wednesday are expected to show, as workers receive pay rises that have failed to keep up with the cost of living.


'It's pathetic': Labor to oppose Malcolm Turnbull's university changes

10 May 2017 | SMH

Labor will put higher education at the centre of its response to this year's budget by announcing it will oppose all the government's major university changes, including the proposed rise in fees and slashing of the HECS repayment threshold.


Who are the winners and losers of the 2017 Budget?

09 May 2017 | Kelly Hughes

OVERVIEW:
WINNERS:
- The Medicare levy will be increased, with the revenue to fund a $22 billion National Disability Scheme.
- First home buyers will be able to use voluntary contributions to their superannuation to save for housing, as well as a new restriction on foreign property owners.


Federal budget 2017: Winners and losers

09 May 2017 | ABC

WINNERS:

The National Disability Insurance Scheme has been fully funded.

The fund to pay for it will be topped up with additional money generated from the increase in the Medicare Levy.

Over the forward estimates, $9.1 billion will be paid into the special account.


Record numbers under mortgage stress

02 May 2017 | AFR

Record numbers of Australian households face mortgage stress as large loans and rising interest rates start to bite, according to detailed analysis of lending, repayments and household incomes.




Without an international minimum wage, we're all worth 10 bucks

01 May 2017 | Guardian Australia

After scandals in the 1990s exposed shocking labour conditions in its supply chain, these days jeans brand Levi’s wears a commitment to ethical sourcing that you’d think would save it from protestors. But not so.


Portfolio

Tracking Spending Saves Big

01 May 2017 | SMH

Four Australians who tracked their spending for an experiment have each identified hundreds of dollars a month they can save by cutting back on small purchases. 


 

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