News archive from 24 March 2013

A drop in the ocean for spot in the Med

This could have been a Simon Crean moment of self-implosion. It would have triggered a run on the banks throughout the euro zone and it's just as well Cyprus said ''no thanks''. Trouble is, it still needs the money. In what would surely make the...

 

A drop in the ocean for spot in the Med

This could have been a Simon Crean moment of self-implosion. It would have triggered a run on the banks throughout the euro zone and it's just as well Cyprus said ''no thanks''. Trouble is, it still needs the money. In what would surely make the...

 

A drop in the ocean for spot in the Med

This could have been a Simon Crean moment of self-implosion. It would have triggered a run on the banks throughout the euro zone and it's just as well Cyprus said ''no thanks''. Trouble is, it still needs the money. In what would surely make the...

 
Skyrail tourists left hanging for hours

Skyrail tourists left hanging for hours

A power problem caused major drama at the Cairns Skyrail in far north Queensland yesterday with passengers left dangling in the air.About 50 sightseers were trapped in their gondolas above the rainforest just before 4:30pm AEST. It took until after...

ABC News, 13:21 in Business
 
Quigley defends criticism over NBN rollout

Quigley defends criticism over NBN rollout

NBN Co chief executive Mike Quigley has defended criticisms after it was revealed that more than 100,000 fewer homes are expected to be connected this year than originally forecast.Syntheo, a contractor that had been responsible for building the...

ABC News, 13:43 in Business
 
Kleenheat enters WA domestic market

Kleenheat enters WA domestic market

Gas retailer Kleenheat says its move into the domestic market will mean West Australian customers will no longer face a monopoly for natural gas.Kleenheat says it will be able supply customers from Geraldton to Busselton using existing gas...

ABC News, 15:57 in Business
 
High hopes for new high-priced NT resort

High hopes for new high-priced NT resort

Tourism operators in the Northern Territory are hoping a new Aboriginal-owned luxury resort will inject visitors and dollars into the region.Cicada Lodge is a $9 million joint venture between the Jawoyn people and an Australian Government statutory...

ABC News, 16:35 in Business
 

Leighton shareholder denies interference

LEIGHTON Holdings' major shareholder has denied it had anything to do with the shake-up of the construction giant's board. Leighton chairman Stephen Johns and non-executive directors Wayne Osborn and Ian Macfarlane, a former Reserve Bank of Australia...

 
Cyprus bailout talks go down to the wire

Cyprus bailout talks go down to the wire

EU economic chief Olli Rehn is warning Cyprus it is essential to reach a deal in Brussels to save its economy from imminent bankruptcy. "There are only hard choices left" for the country, he said on Sunday. Rehn welcomed "progress"...

SBS, 22:32 in Business
 
Both sides must end budget dishonesty

Both sides must end budget dishonesty

An immediate federal election is the last thing we need unless we're happy for it to be a fiscal lucky dip. Both sides have much work to do yet to provide voters with adequate information on the cost of their policies and election promises and how...

 

High earners don't realise own wealth, study finds

The two apparently contradictory positions spell trouble for Wayne Swan as he tries to wind back tax breaks in the May budget. ''We are talking about the top 4 or 5 per cent of earners,'' says David Hetherington, executive director of the Per Capita...

 

Study finds widespread ignorance about carbon tax

Nine months after its introduction 54 per cent of people believed the tax, which specifically excludes motor fuel, had pushed up prices at service stations. Most people surveyed also estimated that their cost of living had risen by $20 or more a week,...

 

Winds depleted, Green tries solar

He plans to install solar panels on the roof of his $4 million Point Piper mansion, a three-bedroom pile that features harbour views, a gym, wine cellar and walk-in dressing room just off the master bedroom. The panels are just part of a reno worth up...

 

BHP defends South Africa electricity fee

South African power utility Eskom has called on customers to cut power usage by 10 per cent. And, amid speculation over the low price BHP pays for its electricity under long-term contracts, Eskom has called on the country's energy regulator to review...

 

Cyprus deadline to set the tone, but share investors optimistic

But futures markets were pointing to gains across Europe, the US and Asia when markets open on Monday, despite fears that Cyprus could be forced out of the eurozone if it fails to access a €10 billion ($12.4 billion) emergency loan. On Sunday the...

 
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