Fortescue raises FY cost estimates
SYDNEY, AAP – Iron ore miner Fortescue has warned full-year capital costs will increase due to the rising Australian dollar and major projects. Fortescue on Thursday issued its third-quarter production report, which showed 53.6 metric tonnes was mined – a big increase on the 41.9 metric tonnes in the same quarter last year. Boss Elizabeth…
Crown Sydney’s liquor licences extended
SYDNEY, AAP – Wine and beer will continue to flow at the luxury Crown Sydney tower but gambling is still a no-go, the gaming regulator has ruled.The NSW Independent Liquor and Gaming Authority on Tuesday renewed three interim liquor licences for the resort at Barangaroo. It means alcohol can be sold at restaurants and bars…
Bank watchdog gives guide on climate risk
CANBERRA, AAP – The prudential watchdog has issued draft guidance to banks, insurers and superannuation trustees on managing the financial risk of climate change. Released for consultation, the Australian Prudential Regulation Authority says the guide is designed to assist regulated entities in managing climate-related risks and opportunities as part of their existing risk management and…
Petrol prices ease for school runs.
Petrol prices ease for school runs Second strongest home sales since 2004 Petrol Prices; New home sales; Used vehicle market Fuel prices: Last week the national average price of unleaded petrol fell by 1.6 cents a litre to 142.8 cents per litre (c/l), according to the Australian Institute of Petroleum. Retail unleaded pump prices have…
Big bank bosses vague on Suncorp interest
CANBERRA, AAP – The heads of Australia’s two largest banks are more than happy to talk about how they are assisting customers who may still be suffering hardship after last year’s recession. But when it comes to whether they have any interest extending their operations, they are far less forthcoming. Reports last month suggested Suncorp…
Full overseas travel years away: Deloitte
CANBERRA, AAP – A new report has warned that international travel for Australians is likely to remain restrictive until 2024. Deloitte Access Economics’ quarterly business outlook – printed prior to the Morrison government’s vaccination program being thrown into disarray late last week – expects international borders will re-open only gradually. For Australia, Deloitte economist Chris…
Westpac back in court for ‘junk’ insurance
CANBERRA, AAP – Westpac is being pursued by the corporate watchdog for allegedly selling junk consumer credit insurance. The Australian Securities and Investments Commission commenced proceedings against the bank in the Federal Court on Thursday for alleged misleading and offering unfair sales to almost 400 customers. “ASIC’s deep dive investigations in late 2018 and into…
Anti-mine party wins Greenland election
COPENHAGEN, RAW – Greenland’s main opposition party, which opposes a rare earth mining project, has become the biggest in parliament after securing more than a third of votes in a snap election. The election result, closely watched by international mining companies wanting to exploit Greenland’s vast untapped minerals resources, casts doubt on a mining complex…
US calls for global minimum corporate tax
WASHINGTON, D. C., RAW – US Treasury Secretary Janet Yellen says she is working with G20 countries to agree on a global corporate minimum tax rate. In a speech ahead of her first International Monetary Fund and World Bank Spring Meetings as Treasury Secretary, Yellen signalled stronger US engagement on issues from climate change to…
Facebook data on over 500m accounts found
NEW YORK, AP – Details from more than 500 million Facebook users have been found available on a website for hackers. The information appears to be several years old, but it is another example of the vast amount of information collected by Facebook and other social media sites, and the limits to how secure that…
