Consumer confidence jumps to highest levels in 2½ years
The increase in confidence was broad based, with consumers' views of the economic outlook leading the gains, ANZ said. Photo: Louise Kennerley Consumer confidence has jumped to its highest levels in 2½ years, delivering some good news for the coalition government ahead of the federal election.Sentiment rose 3.2 per cent last week to 116.8, the highest since January 2014 and more than offsetting the 2.2 per cent decline of the previous week, according to the A..>> view originalLincoln Minerals gains initial approval for graphite mine north of Port Lincoln
Lincoln Minerals gains initial approval for graphite mine north of Port Lincoln Posted June 07, 2016 18:48:47 The Eyre Peninsula is poised to become the nation's leading source for graphite — a mineral vital to the expansion of the renewable energy industry — after a project was given approval by the South Australian Government. Key points:Lincoln Minerals gains initial Government approval for graphite mineThe graphite could be used for Solastor's proposed solar plan..>> view originalSeven West snaps up stake in Airtasker
Surfstitch halts shares ahead of earnings update
Video will begin in 5 seconds. SurfStitch CEO inexplicably resigns Co-founder and chief executive of the successful online retailer SurfStitch has resigned leaving shareholders in the dark. PT0M41S 620 349 Justin Cameron, the former chief executive of online surf wear retailer SurfStitch is keen to return to the company he co-founded eight years ago but has been rebuffed by the board.As SurfStitch shares went into a trading halt on Tuesday ahead of the second profit downgra..>> view originalMining blamed for $3b Qld budget shortfall
Qld treasurer won't commit to surplusThe mining downturn is to blame for a $3 billion black hole in the state budget, Queensland's treasurer says.Curtis Pitt revealed on Tuesday revenue write-downs in next week's budget will include a $2.7 billion drop in mining royalties and $350 million less in state taxes than expected at December's Mid-Year Fiscal and Economic Review.The write-downs since last year's budget meant expected revenue over the four years to 2018/19 was estimated to be down $4.7 b..>> view originalRBA keeps interest rates on hold at 1.75pc at June meeting
Video will begin in 5 seconds. RBA keeps rates on hold The Reserve Banks has kept rates on hold, Fairfax's Peter Martin explains the reasoning. PT1M13S 620 349 The Reserve Bank of Australia has signalled it is in no rush to cut interest rates again as it kept the official cash rate on hold at a record low 1.75 per cent in June.In a departure from previous language that left room for more cuts, RBA governor Glenn Stevens said in the statement accompanying Tuesday's decision t..>> view originalACT budget 2016 at a glance
ACT budget 2016 at a glance Updated June 07, 2016 16:12:56 Domestic violence $30 per year 'safer families levy' to be imposed on ratepayers from July 1. $21.4 million to be spent over over four years in what the Government calls the "single largest spend on the issue" in Canberra's history. Government will appoint a full-time coordinator-general for family safety.Roads The Government has committed over $100 million to duplicate roads at key bottlenecks across Canber..>> view originalInsurers' storm bill hits $56million and counting
Big miners in trouble as mining boom gains wiped out by commodity price plunge
Big miners in trouble as mining boom gains wiped out by commodity price plunge Posted June 07, 2016 13:32:40 The world's biggest miners are vulnerable and some are fighting for survival because of lower commodity prices and high levels of debt according to a new report. Key points:Report finds market value of the world's 40 biggest miners fell 37 per centOnly nine of the top 40 companies saw their market capitalisation increaseBig miners had written off $US200 billio..>> view originalNAB sued by ASIC over rate rigging
NAB is the third of the big four banks to be sued over alleged BBSW manipulation. Photo: Carla Gottgens The corporate regulator has launched legal action against National Australia Bank for allegedly manipulating the bank bill swap rate (BBSW) 50 times. NAB said it would fight the case. Labor leader Bill Shorten jumped on the move, saying it provided further evidence of the need for a royal commission into the banks."How many more people need to suffer and g..>> view original
Tuesday, June 7, 2016
Consumer confidence jumps to highest levels in 2½ years and other top stories.
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