News archive from 10 December 2013

Government axes Labor's $300 million Early Years Quality Fund to boost childcare workers' pay

Government axes Labor's $300 million Early Years Quality Fund to boost childcare workers' pay

A $300 million fund to give pay rises to childcare workers, rolled out earlier this year by Labor, has been axed by the Abbott Government.Former prime minister Julia Gillard, announced the Early Years Quality Fund to give childhood educators and...

ABC News, 12:04 in Business
 
Darling Downs coal mine closure to axe about 200 jobs

Darling Downs coal mine closure to axe about 200 jobs

About 200 Queensland workers are facing a bleak Christmas due to the closure of a Darling Downs coal mine.Overnight, US-based Peabody Energy told the New York Stock Exchange it will close the Wilkie Creek Mine, near Dalby, by the end of the year....

ABC News, 12:26 in Business
 
NAB monthly business survey shows confidence has dipped slightly, trading conditions remain weak

NAB monthly business survey shows confidence has dipped slightly, trading conditions remain weak

The latest National Australian Bank monthly survey shows business confidence remains strong, despite overall trading conditions weakening further in November.Business confidence slipped to a reading of 5 points in November, after hitting 6 points in...

ABC News, 12:59 in Business
 
Average retirement age rising as Australians live longer, Australian Bureau of Statistics figures show

Average retirement age rising as Australians live longer, Australian Bureau of Statistics figures show

It is official - Australians are working longer, according to a large scale survey about retirement conducted by the ABS.The Bureau of Statistics found that the average retirement age was just 53.8 years to 58.5 for men, and 50 for women. However, the...

ABC News, 13:47 in Business
 
Acting PM Warren Truss asks Holden for immediate clarification on its future in Australia

Acting PM Warren Truss asks Holden for immediate clarification on its future in Australia

The Federal Government has written to the head of Holden asking for an immediate clarification about the future of its Australian operations.Uncertainty over the company's future was heightened after senior Government ministers told the ABC last week...

ABC News, 14:46 in Business
 
Treasurer Joe Hockey calls for Holden to 'come clean' over future in Australia

Treasurer Joe Hockey calls for Holden to 'come clean' over future in Australia

Treasurer Joe Hockey has told Holden to "come clean" over whether it is planning to close down in Australia after its general manager told a federal inquiry that no decision had yet been made.Holden boss Mike Devereaux told a Productivity...

ABC News, 15:38 in Business
 
It's the Australian economy that needs saving

It's the Australian economy that needs saving

The prospects for productive Australian industry are waning daily, yet we continue to sit back and debate which particular business is worth saving, writes David Llewellyn-Smith.While the nation continues to debate whether we should let this business...

ABC News, 15:43 in Business
 
Aboriginal communities lobby for more housing tender work in Arnhem Land

Aboriginal communities lobby for more housing tender work in Arnhem Land

Indigenous corporations based in Arnhem Land say they are missing out on contracts for housing construction in their communities.Representatives from several corporations met in Darwin today to discuss the problem. They say local work is not going to...

ABC News, 16:00 in Business
 
Qantas shares hit record low, days after the airline's credit rating was downgraded to junk status

Qantas shares hit record low, days after the airline's credit rating was downgraded to "junk" status

Shares in Qantas have hit a record low, days after the airline's credit rating was downgraded to "junk" status.The national carrier's share price has closed at 96.5 cents, after dipping as to as low as 95.5 cents earlier in the day. The...

ABC News, 16:36 in Business
 
Company suspends mining indefinitely during probe into death of two workers in Tasmanian mine

Company suspends mining indefinitely during probe into death of two workers in Tasmanian mine

Mining has been suspended indefinitely at the Mount Lyell copper mine on Tasmania's west coast while authorities investigate Monday's double fatality.Craig Gleeson, 45 and Alistair Lucas, 25, died after falling 35 metres from a maintenance platform in...

ABC News, 17:02 in Business
 
Federal Minister approves Qld coal and gas expansion amid new rules to protect Barrier Reef

Federal Minister approves Qld coal and gas expansion amid new rules to protect Barrier Reef

The Federal Government has granted approval to the Abbot Point coal port expansion in north Queensland.Environment Minister Greg Hunt made the announcement late this afternoon. He has likewise approved Arrow Energy's Liquefied Natural Gas project on...

ABC News, 18:43 in Business
 
Tasmanian forestry industry urges Abbott Government to honour peace deal

Tasmanian forestry industry urges Abbott Government to honour peace deal

The Abbott Government is under pressure from the forestry industry to reverse its election promise to scrap the Tasmanian forestry peace deal. Two of the biggest and most influential players have told 7.30 it has allowed them to expand and create jobs...

ABC News, 19:20 in Business
 
Share market ends flat with business confidence slipping

Share market ends flat with business confidence slipping

The local share market has finished broadly flat at the close.The All Ordinaries finished down two points at 5,146 while the ASX 200 finished down 0.8 per cent at 5,143. It comes as a key business survey shows confidence slipped last month. The NAB...

ABC News, 19:33 in Business
 
Artists launch campaign to make Australia a smart arts nation

Artists launch campaign to make Australia a smart arts nation

A delegation of artists is calling on the Federal Government to help make Australia renowned as a great arts nation.The National Association for Visual Arts (NAVA) is leading a delegation of artists to Canberra this week to present their vision for...

ABC News, 20:01 in Business
 
Woodside narrows production target and halves investment outlook in briefing to investors

Woodside narrows production target and halves investment outlook in briefing to investors

Australia's biggest energy producer Woodside Petroleum has narrowed its production target and halved its outlook for investment. The company has told an investor briefing it will produce between 86 and 88 million barrels of oil in 2013 and it expects...

ABC News, 20:35 in Business
 
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