POLITICS & POLICY

NBN Co acquires Austra spectrum licenses for $120 million

Pursuant to its aim of delivering wireless services to parts of Australia yet to be reached by fibre-optics network, the National Broadband Network Company (NBN Co) inked a million-dollar deal with satellite television provider Austar.
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Swan welcomes bank wars among Australia’s major banks

The federal government is happy to see that major Australian banks are starting to actually compete with each other by bringing on to the table service offerings that intend to lure more customers and in the process deliver considerable benefits to their banking clients.

Feds press on the need to hike superannuation guarantee

The federal government is looking to lift Australia’s compulsory employer superannuation contributions from its current level of nine percent to 12 percent by year 2020, with part of the funds to be culled from the revenues set to be delivered by the planned minerals resource rent tax.

Peak body slams Greens MP’s claim on banks making excessive profits

Australian banks have rejected criticism of bank profits as unfounded, in response to a media statement, today issued by Greens MP Adam Bandt, which noted the first-half profit announcement by the Commonwealth Bank reinforced the need for action “to rein in excessive profiteering by the banking sector.”

Senate announces probe on raging milk controversy

The milk controversy sparked by the price war between Australia’s major supermarkets has reached the halls of the parliament, prompting Independent Senator Nick Xenophon to call for a probe on the matter.

Australian government to replace medals lost in natural disasters

Parliamentary Secretary for Defence, Senator the Hon David Feeney, today announced that the government will relax the policy on replacement of Australian Defence Force (ADF) medals so that medals lost during the Queensland and Victorian floods, the impact of Cyclone Yasi and the fires in Western Australia can be replaced.

Industry supports O’Farrell's calls for infrastructure reform

NSW Opposition Leader Barry O’Farrell’s speech to the National Press Club today makes a reasoned case for reforms to drive better infrastructure and productivity outcomes, says Infrastructure Partnerships Australia, the nation’s peak infrastructure industry group.

Novelty lighters, unsafe toys banned in Australia

Cigarette lighters that look like children's toys and 'sky lanterns' are among the first 10 permanent product bans made under the new Australian Consumer Law, said Parliamentary Secretary to the Treasurer, David Bradbury.

Swan predicts economic contraction for Q1 due to disaster damages

Federal Treasurer Wayne Swan confirmed earlier projections by economists that a slow down would characterise the first three months of the Australian economy as it starts to absorb the impacts of the twin disasters that ravaged the northern states of the country from December last year through the last week of January.

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