Very sick to benefit from PBS review: Ley

Very sick to benefit from PBS review: Ley

Health Minister Sussan Ley believes consumers and the seriously sick will be the winners by banning over-the-counter drugs from the list of subsidised medicines. She said the government is getting more and more requests for expensive, new generation cancer drugs and other medications it wants to be able to list on the Pharmaceutical Benefits Scheme. "It is very sensible to constantly review the …

  • Australian stocks to open higher AAP - 4 hours ago
    Australian stocks to open higher

    AMP chief economist Shane Oliver is tipping a positive start to the week with a rise of about 20-25 basis points. The US Federal Reserve will meet on Wednesday, but any change of monetary policy is highly unlikely and the focus will be on the central bank's statement, which could hint at future interest rate changes, he said. Local data will be scarce this week, Dr Oliver said, with the market focus mostly on a speech by Reserve Bank Governor Glenn Stevens on Tuesday for any hints on rate moves. Dr Oliver expects the Australian dollar to rise slightly from Friday's finish of 78.10 US cents.

  • Seniors group says leave savers alone AAP - 9 hours ago
    Seniors group says leave savers alone

    Seniors have a blunt message for the federal government: leave savers alone. Over-50s lobby group National Seniors Australia has joined the opposition to a bank deposits tax, saying people who save are an easy target for governments. "They're low hanging fruit for governments who are keen to grab money," chief executive Michael O'Neill told AAP. The Australian Bankers Association has said the tax would punish savers and self-funded retirees already struggling with low interest rates.

  • Bowen leading team in visit to China AAP - 9 hours ago
    Bowen leading team in visit to China

    Shadow treasurer Chris Bowen is heading to China for talks with government officials and business people. He will be joined by federal Labor parliamentarians Clare O'Neil and Nick Champion, as well as ...

  • VW chairman resigns after dispute AAP - 11 hours ago
    VW chairman resigns after dispute

    Volkswagen says board chairman Ferdinand Piech has resigned. The announcement on Saturday follows a rare public clash between Piech and other board members over the leadership of Europe's biggest carmaker. Piech had said in an interview that he was distancing himself from CEO Martin Winterkorn - only to find opposition from other board members who said he had not agreed that stance with them. The statement said that deputy board chairman Berthold Huber would serve as interim chairman.

  • Starbucks stores reopen tech glitch AAP - 12 hours ago
    Starbucks stores reopen tech glitch

    Starbucks was back in business on Saturday after a computer outage forced thousands of its stores to close early the night before. The glitch affected registers at 7400 company-operated stores in the US and 1000 in Canada, and prompted some stores to give away drinks. "All Starbucks stores in the US and Canada are expected to open for business as usual on Saturday," the company said in a statement late on Friday. Starbucks said the outage was caused by "a failure during a daily system refresh".

  • Air NZ's new fuel efficient fleet may mean cheaper … Newstalk ZB - Fri, Apr 24, 2015 8:53 PM NZST

    Air New Zealand has announced a new fuel-efficient engine to power its new aircraft fleet, which could mean cheaper airfares.

  • CWC boosts NZ travel figures by 87,000 Newstalk ZB - Fri, Apr 24, 2015 8:08 PM NZST

    The Cricket World Cup boosted international passenger numbers last month.

  • NZD loses furth ground against the Aussie Newstalk ZB - Fri, Apr 24, 2015 7:56 PM NZST

    The New Zealand dollar has lost further ground against the Aussie.

  • Another WA uranium mine plan approved AAP - Fri, Apr 24, 2015 7:40 PM NZST

    Canadian uranium producer Cameco has secured federal environmental approval for its Kintyre project in remote Western Australia. It comes a month after WA Environment Minister Albert Jacob granted the company conditional approval to develop the remote east Pilbara project, 260km northeast of Newman. Cameco, which produces 16 per cent of global uranium output, bought the Kintyre deposit in 2008 with joint venture partner Mitsubishi. It also has the Yeelirrie deposit, WA's biggest uranium project, which it bought from BHP Billiton for $430 million in 2012.

  • $A rises above 78 US cents AAP - Fri, Apr 24, 2015 7:25 PM NZST

    The Australian dollar has risen above 78 US cents as weak US data dented the greenback, while the New Zealand currency slipped. The domestic currency was worth 78.10 cents by 1700 AEST, up from 77.28 cents on Thursday, reaching a four day high late in the local session. "That did take a bit of a bite out of the US dollar generally," National Australia Bank global co-head of FX strategy Ray Attrill said. The Australian dollar also benefited from further weakness in the New Zealand currency, sparked by Reserve Bank of New Zealand deputy governor John McDermott's hint on Thursday that an interest rate cut may be needed.

  • Suspension of NSW CSG licence overturned AAP - Fri, Apr 24, 2015 7:17 PM NZST
    Suspension of NSW CSG licence overturned

    Coal seam gas explorer Metgasco will seek compensation from the NSW government after winning its legal battle over the suspension of its drilling licence. The company said its successful challenge of the suspension proved a landmark decision for the NSW resources industry. Metgasco's licence to drill the Rosella well near Lismore in northern NSW was suspended by Resources and Energy Minister Anthony Roberts in May 2014, on the grounds the company hadn't properly consulted the community about its exploration. Notice of the suspension "came as a bolt from the blue to Metgasco", Justice Richard Button ruled, and procedural fairness was not implemented.

  • Bonds weaken on rate cut expectations AAP - Fri, Apr 24, 2015 7:15 PM NZST

    The bond market has weakened as expectations of a May interest rate cut continue to be eroded. A May rate cut is now seen as a 50-50 chance, which contributed to a sell-off in Australian bonds on Friday ...

  • $A firms to finish above 78 US cents AAP - Fri, Apr 24, 2015 7:14 PM NZST

    The Australian dollar has risen above 78 US cents as weak US data dents the greenback and the New Zealand currency slips. The domestic currency was worth 78.10 cents by 1700 AEST, up from 77.28 cents on ...

  • Aust shares higher on iron ore rally AAP - Fri, Apr 24, 2015 7:06 PM NZST

    The Australian sharemarket ended the week strongly, with gains on the back of a rally in iron ore prices from decade lows. A 1.5 per cent gain on the ASX200 on Friday meant it ended the week 0.9 per cent ...

  • Xero shares punished as loss doubles AAP - Fri, Apr 24, 2015 6:28 PM NZST

    Shares in cloud-based accounting software business Xero have dropped 10 per cent after the company's full year loss almost doubled. Xero, which provides accounting software for small businesses, made a full year loss of $NZ69.5 million ($A67.9 million) in the year to March 31, up from a $NZ35.5 million loss a year ago, despite lifting operating revenue from $NZ70 million to $NZ123 million. The New Zealand based company, dubbed "the Apple of accounting" by Credit Suisse, has been a market darling in recent years, with its market value stretching beyond $A3 billion despite never posting a profit.

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