News archive from 16 December 2013

Toyota seeking 30 cuts to employee entitlements, including lowering workers' Sunday penalty rates

Toyota seeking 30 cuts to employee entitlements, including lowering workers' Sunday penalty rates

Federal Court documents reveal Toyota is seeking to cut nearly 30 benefits for workers at its Victorian plant, including pay of double-time-and-a-half on Sundays.The carmaker's enterprise agreement, which covers roughly 2,000 workers at its Altona...

ABC News, 11:12 in Business
 
BHP commits $17 million to university of WA

BHP commits $17 million to university of WA

The University of Western Australia is set to receive a $17 million funding boost from BHP Billiton.The resources company has announced the funding commitment at the university's business school. A total of $12 million will go to the Faculty of...

ABC News, 11:53 in Business
 
Avatar director James Cameron to film three sequels in New Zealand after production subsidies deal

Avatar director James Cameron to film three sequels in New Zealand after production subsidies deal

Director James Cameron has announced he will film three sequels to his record-breaking epic Avatar in New Zealand after striking a deal with the government for increased production subsidies.Cameron said the movies, with a combined budget of at least...

ABC News, 11:53 in Business
 
Government reverses course on road funding despite expected $50 billion budget deficit

Government reverses course on road funding despite expected $50 billion budget deficit

The Abbott Government has reversed its decision on around $1 billion in road funding, announcing that it will proceed with the projects the day before a budget update is expected to show this year's deficit will blow out to nearly $50 billion.The...

ABC News, 12:18 in Business
 
Australia Institute report urges governments to stop spending public money on Tasmanian forest industry

Australia Institute report urges governments to stop spending public money on Tasmanian forest industry

A Canberra-based think-tank is recommending the Federal and Tasmanian Governments stop subsidising the state's native forestry sector.In a draft report obtained by the ABC, the Australia Institute has criticised successive governments for pouring...

ABC News, 12:43 in Business
 
First NT petroleum licence signed in 30 years

First NT petroleum licence signed in 30 years

Traditional owners south west of Alice Springs have signed the first petroleum license in the Northern Territory in more than 30 years.The agreement paves the way for explorer Central Petroleum to begin producing more than 600,000 barrels of oil from...

ABC News, 13:02 in Business
 
Transperth warns commuters of bus route changes ahead of Wellington Street bus station demolition

Transperth warns commuters of bus route changes ahead of Wellington Street bus station demolition

The Wellington Street bus station is to be demolished to make way for a new underground station.Transperth is warning commuters there will be changes to routes ahead of the works. Spokesman David Hynes says now that the sinking of the rail line in the...

ABC News, 13:19 in Business
 
Components workers demand more support for car industry

Components workers demand more support for car industry

About 200 auto-component workers have rallied in Melbourne's CBD demonstrating against the Government's decision not to provide further subsidies to Holden.The protesters are calling for greater government investment in the sector to help it diversify...

ABC News, 14:16 in Business
 
Australia's failure to stay at the cutting edge

Australia's failure to stay at the cutting edge

A failure to invest in innovation meant the writing was on the wall for Holden, which is why we should fear the recent changes to the Gonski education reforms and the NBN, writes Mungo MacCallum.As the last plaintive echoes of "Football, meat...

ABC News, 15:01 in Business
 
Government report predicts 90 per cent slump in mining industry construction jobs over five years

Government report predicts 90 per cent slump in mining industry construction jobs over five years

A Government report is forecasting a 90 per cent slump in resources construction jobs, but economists are hopeful that mine operations and residential building will pick up the slack.The report's author, Keith Spence from the Australian Workforce and...

ABC News, 16:23 in Business
 
Worker 'not injured' after slipping on toxic spill

Worker 'not injured' after slipping on toxic spill

The operator of the Northern Territory's Ranger uranium mine says a worker who slipped over on a toxic spill last week was not injured.The Manufacturing Workers Union on Friday told the ABC that a man was given first aid treatment after falling up to...

ABC News, 16:23 in Business
 
Internet ad agencies go bust, leaving customers in lurch and out of pocket

Internet ad agencies go bust, leaving customers in lurch and out of pocket

Two Australian companies that sold internet advertisements and website space have gone bust, leaving thousands of customers out of pocket and without a website for their businesses.The companies, Yodel Australia and Blink Digital, have debts of $4.5...

ABC News, 18:27 in Business
 
Tasmanian Liberals slam freight inquiry as a 'waste of time'

Tasmanian Liberals slam freight inquiry as a 'waste of time'

The State Opposition has labelled as a waste of time a review of Tasmania's freight system.It has seized on leaked documents showing the state's Freight Logistics Coordination Team (FLCT) has recommended the State Government spend another six months...

ABC News, 21:05 in Business
 
Labor says MYEFO will show Coalition's paid parental leave scheme should be dumped

Labor says MYEFO will show Coalition's paid parental leave scheme should be dumped

The Federal Opposition says today's budget update will show why the Government's multi-billion-dollar paid parental leave plan is unaffordable and should be dumped.The Coalition is expected to use today's Mid-Year Economic and Fiscal Outlook (MYEFO)...

ABC News, 02:03 in Business
 
Australians falling behind in mortgage repayments despite low rates: Fitch

Australians falling behind in mortgage repayments despite low rates: Fitch

A major global ratings agency says the level of mortgage arrears in Australia has not fallen, despite record low interest rates.A half-yearly study by Fitch Ratings of more than $200 billion worth of mortgage-backed securities shows 1.25 per cent of...

ABC News, 06:24 in Business
 
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