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Former RBA governor Bernie Fraser says penalty rate cut will produce inequality, not jobs

06 April 2017 | SMH

Former Reserve Bank boss Bernie Fraser has savaged the Fair Work Commission's cuts to penalty rates and the Turnbull government's company tax cuts, saying the measures will further entrench inequality but do little to produce jobs and growth.


ASIC head says he's still seeing 'appalling things' at Australian banks

06 April 2017 | SMH

The head of the corporate regulator says he is still uncovering "some pretty appalling things" when conducting surveillance on Australian banks.

Australian Securities and Investments Commission Chairman Greg Medcraft said banks still had a way to go to restore the trust of their customers, and while at a board level banks seem to "get it", on the ground there are still issues.


IAG CEO Peter Harmer blows the whistle on cyber risk

06 April 2017 | AFR

After a week of being bruised and battered over elevated reputation and credit risks, the last thing the bankers attending The Australian Financial Review Banking and Wealth Summit needed was a reminder of the rising operational risks from cyber attacks.

But the straight-shooting chief executive of Insurance Australia Group, Peter Harmer, did not dodge the question when asked what his firm had found while trawling through the "dark web".

 


Treasurer Scott Morrison to big business: Help us win on tax cuts

05 April 2017 | AFR

Treasurer Scott Morrison is calling on big business to take up the fight for tax cuts for major corporations, warning that without winning over the public there's little hope of the government passing the rest of its tax plan through the Senate.

While Mr Morrison will recommit the government to legislating the remainder of its tax cuts, the tarnished reputation of the top end of town is making it easier for Labor to demonise big business.

 


$20m for remote housing to roll out in 3 months but NTG is still unable to say who will qualify

05 April 2017 | ABC

Seven months into its term, the Northern Territory Government is struggling to put concrete details on a key election promise to equalise access to housing in the bush.

As part of its pre-election pitch to win back the support of bush voters, Labor tapped into discontent in remote communities over "discrimination" in the allocation of housing for government employees.


Adani mine railway loan would breach government's policy, says legal group

05 April 2017 | Guardian Australia

A $1bn federal loan to builders of a railway line between the proposed Adani coalmine and the coast would be a direct breach of government policy, a legal group has claimed.

Environmental Justice Australia has lodged a formal complaint with the Productivity Commission over the prospect of the Northern Australia Infrastructure Facility partially funding the 400km rail line.


United Petroleum blasted by Fair Work Ombudsman for underpaying staff

05 April 2017 | SMH

Petrol giant United Petroleum has been blasted by the workplace regulator for rampant underpayment of workers across its franchise network after a series of raids.

The Fair Work Ombudsman's investigation also found that a company related to United Petroleum's head office and which shared the same two directors was also underpaying staff.


Wall Street finishes flat ahead of earnings season, key US-China meeting

04 April 2017 | ABC

It was a fairly flat session on Wall Street overnight, as investors exercised caution ahead of the first-quarter earnings season and a meeting between the US and Chinese presidents later this week.

Investors will be focussed on the potentially tense meeting between Donald Trump and Xi Jinping on Thursday and Friday, after Mr Trump held out the possibility of using trade as a lever to secure China's cooperation against North Korea during the talks.


Syria conflict: Dozens dead, including children, in suspected chemical attack in Idlib

04 April 2017 | SMH

The deadliest chemical weapons attack in years in Syria killed dozens of people in northern Idlib province on Tuesday morning, including women and children, and sickened scores more, according to medics, rescuers and witnesses in the rebel-held province, who said the gas had been delivered by a government airstrike.

 


Australian police seize ice drug haul worth $900m in record bust

04 April 2017 | Guardian Australia

Almost a tonne of the drug ice has been seized in Melbourne in the largest ever bust in Australia’s history.

Two men have been charged with drug trafficking after the record 903kg haul, valued at almost $900m.


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