Archived News for Finance Sector Professionals

A major Australian superannuation fund has deemed fossil fuels to be ‘socially unacceptable’, and will no longer make investments in that direction.

Medibank to make multi-billion debut

Medibank Private will be sold for several billion dollars, most likely in the current term of government.

Optus warned after $9 million rort repaid

The Australian Communications and Media Authority (ACMA) has issued a warning, but no monetary punishment after it found Optus had overcharged mobile customers around $9 million.

Rural projects' pain at living away changes

An industry body says new limits on tax concessions for Living Away From Home Allowances (LAFHA) are making rural construction projects more expensive, and placing a hefty burden on business.

ATO to call curtains on golden age of tax dodging

The Tax Office has given a grace period to all those stashing their money in offshore havens, saying a crackdown is coming.

Bodies clash on gas prices and protection

The industry lobby for Australian manufacturers says high gas prices and a domestic shortage will lead to the loss of over 100,000 jobs.

Serious issues seem not to set back massive military spend

Australia will likely spend billions on a Defence acquisition recently described as “unaffordable”, buying dozens of planes that currently cannot stay together for more than a few hours.

Young work rates rarely lower than right now

The latest youth unemployment figures show tough times in many regions, with some areas seeing dramatic spikes in joblessness over the last few years.

Charity links checked for success

Corporate sponsorship of non-profits has been used as a shortcut to public favour, but new research shows there is a fine balance between success and cynicism in charitable business.

Senate retains tax some say undermines mining

The Senate has rejected the Federal Government's attempt to bury the mining tax, voting down legislation to abolish the MRRT by 35 votes to 32.

Victorian claims plumb well of possible corruption

UPDATE - The Victorian Government has engaged a forensic investigations firm to look into the sources of the leaked information.

AGL to fight for MacGen while watchdog warnings ring out

AGL Energy will reportedly challenge the rejection of its bid for NSW state-owned electricity firm Macquarie Generation.

Funds locked awaiting future fuel review

Media outlets claim at least $1 billion worth of resource projects are on hold in Victoria alone, awaiting the review of the Renewable Energy Target.

Nuclear on list for novel, profitable, new Australian age

A new report from analysts at Deloitte Access Economics has highlighted 25 sectors that could drive the Australian economy in the future, including nuclear power generation and waste storage.

Age-pay adjustment condemned

Paying 20-year-old workers at the same rate as 21-year-olds will “kill jobs” and rend the already struggling retail sector, an industry lobby says.

Tech firms try for transparency while Joyce dangles cows

Some of the world’s leading online companies and communities have spoken out about efforts to “fast track” the Trans-Pacific Partnership, saying governments should ease up in their push to create a corporate-friendly, freedom-restricting future.

Roy Hill's green light beams with $7.2 billion bulb

The biggest mining project in Australia is now locked in, with Gina Rinehart securing a $7.2 billion deal for work at Roy Hill.

Tax Office to chase big funds fleeing the country

The Australian Tax Office will use new tools to chase down multinational countries funnels their profits out of Australia to avoid hefty tax bills.

Toyota pays up after 'sticky pedal' deaths

Toyota will pay an incredible $1.32 billion to settle a criminal investigation into deadly safety issues

Audit launched on shaky basis

A submission from the Community and Public Sector Union has poked holes in the very basis of the Government's Commission of Audit, saying parts of the Public Service probe are simply wrong.

Miners through lobbies want more money for the north

A lobby group says abolishing income tax in the Northern Territory would help bolster a massive expansion of the region’s economy, productivity and population.