MP glad committee won't look at iron ore

MP glad committee won't look at iron ore

Tony Abbott's parliamentary secretary doesn't think an inquiry into iron ore would have found the truth of what is happening with resources pricing. West Australian Liberal Christian Porter has blasted the work of parliamentary committees, saying he's glad the government won't ask one to look at iron ore prices - as some crossbench senators and Fortescue metals boss Andrew Forrest wanted - becaus…

  • Budget set to again face Senate hurdles AAP - 12 hours ago
    Budget set to again face Senate hurdles

    Joe Hockey's second budget may have won an initial round of applause from voters but that does not mean it will get an easy passage through parliament. Heading into a sitting fortnight for the House of Representatives, Prime Minister Tony Abbott is urging the Labor Party to "work with us" in backing the $20,000 instant asset write-off for small business when budget bills start to be debated.

  • Tas gov to extend first home builder boost AAP - 12 hours ago
    Tas gov to extend first home builder boost

    A $20,000 grant for Tasmanian first home builders will be extended for another six months in Thursday's state budget. Treasurer Peter Gutwein made the commitment on Sunday, saying those building their first homes would be eligible for the $20,000 First Home Builder Boost until the end of the year. The changes will provide a smoother transition for both first home builders and the building sector, Mr Gutwein said.

  • Abbott urges Labor to back budget bills AAP - 13 hours ago
    Abbott urges Labor to back budget bills

    Prime Minister Tony Abbott is urging Labor to support the $20,000 instant asset write-off for small business when budget bills are voted on this week. The House of Representatives will meet on Monday when the budget appropriation bills are debated and Mr Abbott wants the opposition to "work with us". "We all know that the Labor government got us into a mess - this is chance for the Labor party to be part of the solution rather than the problem," Mr Abbott told reporters in Brisbane on Sunday.

  • Fed budget fails fairness test: ACOSS AAP - Sat, May 23, 2015 12:18 PM NZST

    The Abbott Government's budget measures will cost Australian families and low income earners $15 billion, a new report shows. By keeping most of its 2014 savings measures and delivering new cuts, the Federal Government will rip the money from basic services and supports over four years, according to a Australian Council of Social Service (ACOSS) report released on Saturday. The figure includes $6 billion in cuts to family payments and a $1 billion decrease on health spending.

  • Qld treasurer denies talking down economy AAP - Fri, May 22, 2015 7:39 PM NZST
    Qld treasurer denies talking down economy

    Queensland Treasurer Curtis Pitt became the latest, after telling parliament on Thursday the state economy had slid into recession in the second half of 2014. Mr Pitt was having a crack at the previous Liberal National Party government, which lost the January election, but his comments have backfired. Business groups and economists say only Australian Bureau of Statistics figures, rather than state treasury data, can be trusted and the opposition accuses Mr Pitt of recklessly talking down the economy.

  • $A higher in quiet trade amid USD weakness AAP - Fri, May 22, 2015 7:28 PM NZST

    The Australian dollar is higher as the US dollar weakened amid speculation about when the US Federal Reserve will hike interest rates. The Australian dollar was worth 79.12 US cents at 1700 AEST on Friday, up from 79.00 US cents on Thursday. NAB senior currency strategist Emma Lawson said the local currency gained around a third of a per cent on Friday against the US dollar which was consistent with other currencies such as the New Zealand dollar and euro.

  • Banks weigh on Aust share market AAP - Fri, May 22, 2015 7:08 PM NZST

    The share market has finished flat after weakness among the big four banks offset strong gains among energy stocks. The market had opened higher thanks to strong leads from the US and with stronger oil prices lifting energy stocks. "There seems to be three factors: the banks have just gone ex-dividend, there's been bond market volatility which the banks are quite susceptible to and ongoing capital concerns," he said.

  • Aust bonds firmer in line with Treasuries AAP - Fri, May 22, 2015 6:41 PM NZST

    The Australian bond market is firmer as traders take their cues from US Treasuries. Continued weak economic data out of the US has traders speculating that the Federal Reserve could delay lifting the cash ...

  • Stocks to watch on Friday AAP - Fri, May 22, 2015 6:20 PM NZST

    Stocks to watch on the Australian stock exchange at close on Friday: BHP - BHP BILLITON - up one cent, or 0.03 per cent, to $29.25 FMG - FORTESCUE METALS GROUP - down one cent, or 0.47 per cent, to $2.11 ...

  • Aust shares close flat AAP - Fri, May 22, 2015 6:17 PM NZST

    The Australian share market has closed flat, with a lacklustre performance from the big banks dragging on the broader market. At the close on Friday, the benchmark S&P/ASX200 index was 2.4 points, or 0.04 ...

  • Govt risked jobs with ore inquiry: Shorten AAP - Fri, May 22, 2015 5:41 PM NZST
    Govt risked jobs with ore inquiry: Shorten

    Federal Labor leader Bill Shorten says the government put jobs and investment at risk by toying with the idea of an inquiry into iron ore. Prime Minister Tony Abbott has scrapped the idea after talks with industry stakeholders, despite last week supporting an inquiry into the sharp drop in ore prices and its impact on government revenues. "We've seen the government carry on for a week about a phantom iron ore inquiry ... but nowhere have I seen Tony Abbott or Joe Hockey talk about the jobs of the actual miners who have lost their jobs," Mr Shorten told reporters in Melbourne on Friday.

  • MARKET CLOSE: NZ shares rise, led by Coats; Nuplex … BusinessDesk - Fri, May 22, 2015 5:36 PM NZST

    ![CDATA[ By Suze Metherell May 22 (BusinessDesk) - New Zealand shares rose, led by Coats Group after it said earnings were on track. Nuplex Industries advanced after it flagged it would lift its dividend ...

  • InvoCare withdraws CEO termination package AAP - Fri, May 22, 2015 5:24 PM NZST

    Funeral homes and cemeteries operator InvoCare has withdrawn a proposed termination benefits package for former chief executive Andrew Smith following concerns by some larger shareholders. Mr Smith, who spent more than six years as chief executive of InvoCare, left on April 30 after the company announced in December 2014 that it would not extend his term. Invocare was to have put a termination benefits package for Mr Smith to shareholders for their consideration at the company's annual general meeting in Sydney on Friday.

  • NZ dollar heads for 1.2% weekly decline as rate cuts … BusinessDesk - Fri, May 22, 2015 5:11 PM NZST

    The New Zealand dollar is heading for a 1.2 percent weekly decline this week as investors weigh up whether measures to reign in the country's housing market will free up the Reserve Bank to cut interest rates. The kiwi fell to 73.82 US cents at 5pm in Wellington from 74.72 cents on Friday in New York last week. A BusinessDesk survey of 12 advisers on Monday predicted the kiwi would trade between 72.75 US cents and 76.70 cents this week.

  • NZ wool prices jump to multi-year high at auction, … BusinessDesk - Fri, May 22, 2015 5:09 PM NZST

    New Zealand wool prices jumped to multi-year highs at auction even as the volume on offer rose 78 percent, amid strong demand from exporters. The price for clean 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, rose to $6.20 per kilogram at yesterday's South Island auction, from $5.80/kg in the North Island auction last week, and reaching its highest level since November 2013, according to AgriHQ. Some 9,733 bales of wool were offered for auction yesterday, up from 5,469 bales at last week's auction and 6,346 bales the previous week, as farmers who had been holding out for better prices put their bales on the market.

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  • House panel votes to repeal country-origin meat labeling law Associated Press - Thu, May 21, 2015 8:35 AM NZST
    House panel votes to repeal country-origin meat labeling law

    A House committee has voted to get rid of labels on packages of meat that say where the animals were born, raised and slaughtered. The House Agriculture Committee voted 38-6 to repeal a "country-of-origin" ...

  • What you need to know about the Takata air bag recall Associated Press - Thu, May 21, 2015 8:34 AM NZST
    What you need to know about the Takata air bag recall

    A recall of air bags made by Japanese auto parts supplier Takata Corp. now has the dubious distinction of being the largest in U.S. history. The number of vehicles in the U.S. being recalled because of ...

  • This New Virtual Reality Headset Tracks Your Eye Movements Entrepreneur - Thu, May 21, 2015 7:50 AM NZST
    This New Virtual Reality Headset Tracks Your Eye Movements

    FOVE has launched a Kickstarter campaign to fund production and manufacturing of its headset.

  • Target beating Wal-Mart in race for turnaround Associated Press - Thu, May 21, 2015 5:58 AM NZST
    Target beating Wal-Mart in race for turnaround

    Target is beating Wal-Mart in the race to beef up sales. Target Corp. on Wednesday reported a nearly 52 percent surge in its first-quarter profit on strong sales of more profitable items like fashion and ...

  • Toyota recalls 181,000 cars AAP - Wed, May 20, 2015 8:13 PM NZST
    Toyota recalls 181,000 cars

    Toyota Australia has ordered the recall of 181,000 cars after an airbag fault linked to five deaths worldwide. The decision is part of a global recall of more than five million Toyotas which have been fitted with airbags from one of the world's biggest air-bag companies, Takata. Toyota Australia says its recall will affect vehicles built between 2003 and 2007 and includes its Yaris, Corolla, Avensis Verso, Echo and Rav4 models.

  • House to consider repeal of meat labeling law Associated Press - Wed, May 20, 2015 7:29 PM NZST
    House to consider repeal of meat labeling law

    A House committee is moving swiftly to get rid of labels on packages of meat that say where the animals were born, raised and slaughtered. The House Agriculture Committee will consider a bill to repeal ...

  • Takata air bag recall doubles to nearly 34 million Associated Press - Wed, May 20, 2015 2:37 PM NZST
    Takata air bag recall doubles to nearly 34 million

    Under pressure from U.S. safety regulators, Takata Corp. has agreed to declare 33.8 million air bags defective, a move that will double the number of cars and trucks included in what is now the largest ...

  • US investigation of 2007 peanut butter recall wraps up Associated Press - Wed, May 20, 2015 2:16 PM NZST
    US investigation of 2007 peanut butter recall wraps up

    ConAgra Foods is likely to face a criminal charge now that the U.S. government has completed its investigation of the company's 2007 peanut butter recall. A spokeswoman for the U.S. attorney's office in ...

  • Illinois Supreme Court hears $10B Phillip Morris appeal Associated Press - Wed, May 20, 2015 8:49 AM NZST
    Illinois Supreme Court hears $10B Phillip Morris appeal

    The fate of a $10.1 billion class-action judgment against the nation's largest cigarette maker is in the hands of justices at the Illinois Supreme Court, who heard oral arguments Tuesday in Phillip Morris ...

  • Fried chicken chain KFC resurrects Colonel Sanders for ads Associated Press - Wed, May 20, 2015 7:01 AM NZST
    Fried chicken chain KFC resurrects Colonel Sanders for ads

    KFC is bringing back Colonel Sanders as the fried chicken chain seeks to refresh its image by harkening back to its past. Sanders, who founded KFC, will be played by "Saturday Night Live" alumnus ...