Regulator ASIC has a ‘culture of subservience to the big banks’, says former employee

Regulator ASIC has a ‘culture of subservience to the big banks’, says former employee

Posted April 25, 2018 12:19:02 ASIC has a culture of subservience and acquiescence when it comes to the big banks, says a former lawyer for the corporate watchdog. James Wheeldon worked for ASIC as a junior lawyer for just under a year between 2004 and 2005, and said many of …

Google, Apple and Caterpillar stocks plunge, Dow Jones sinks 425 points

Google, Apple and Caterpillar stocks plunge, Dow Jones sinks 425 points

Updated April 25, 2018 08:51:45 Wall Street finished its day sharply lower, with a broad sell-off in nearly every sector — particularly materials, technology and industrials. Markets at 7:25am (AEST): ASX SPI 200 futures -0.6pc, ASX 200 (Tuesday’s close) +0.6pc at 5,922 AUD: 76.01 US cents, 54.35 British pence, 62.13 …

Malcolm Turnbull concedes banking royal commission should have been called sooner

Malcolm Turnbull concedes banking royal commission should have been called sooner

Updated April 23, 2018 13:48:23 Video: Malcolm Turnbull has taken responsibility for delaying the royal commission. (ABC News) Malcolm Turnbull says in hindsight it would have been better for the Government to have set up a banking royal commission two years ago. Key points: After two years of argument, the …

Directors of Australia’s biggest dairy company quit board over VDL’s future direction

Directors of Australia’s biggest dairy company quit board over VDL’s future direction

Updated April 24, 2018 20:00:21 Five non-executive directors who quit the board of Australia’s largest dairy company this week say they resigned over a difference of opinion about the future management of dairy farms in north-west Tasmania. Moon Lake, owned by Chinese businessman Xianfeng Lu, purchased the Van Diemen’s Land …

Opinion divided over plan to shift public housing residents for $45m redevelopment

Opinion divided over plan to shift public housing residents for $45m redevelopment

Updated April 24, 2018 17:36:39 Photo: John Stokes Square resident Loro Pekaj said anti-social behaviour was a problem in the area. (ABC News: Mitchell Woolnough) Related Story: Public housing estate to be knocked down under draft development plan for Nightcliff Residents of 75 public housing units at Nightcliff will be …

Why is rent in Darwin so high when there’s an excess of vacant properties? – Curious Darwin

Why is rent in Darwin so high when there’s an excess of vacant properties? – Curious Darwin

Updated April 24, 2018 13:36:39 Video: Why is rent so expensive in Darwin when there’s an excess of vacant properties? (ABC News) Darwin’s heat was always going to sting after 10 years in Tasmania. But it was the sting from its rent that took Michael Christopher by surprise — $260 …

Inflation pulse still weak, up 1.9 per cent and still below RBA comfort zone

Inflation pulse still weak, up 1.9 per cent and still below RBA comfort zone

Updated April 24, 2018 12:05:54 Photo: Food inflation remains low rising by just 0.5 per cent over the past 12 months. (ABC News: Raveen Hunjan) Australia’s inflation pulse continues to be weak, with the first quarter consumer price index still tracking below the Reserve Bank’s preferred target band. Headline inflation …

Google profit jumps 73pc, US extends deadline for aluminium sanctions as Wall Street slips

Google profit jumps 73pc, US extends deadline for aluminium sanctions as Wall Street slips

Updated April 24, 2018 08:56:21 Photo: After releasing its quarterly profit figures, Google stocks surged for 5 minutes before plunging into negative territory. (ABC News: Ben Sveen) The relaxation of US sanctions against Russian aluminium and weakness in technology stocks — even with Google’s bumper profit — led Wall Street …

Federal Government gives $6 million to boost domestic gas supply to Chinese-owned Westside Corporation

Federal Government gives $6 million to boost domestic gas supply to Chinese-owned Westside Corporation

Posted April 24, 2018 05:08:43 Photo: Ye Cheng (L) and Mike Hughes (R) sign the Westside deal in 2014 witnessed by China’s President Xi Jinping and then-prime minister Tony Abbott. (Supplied: Landbridge) The Federal Government has awarded a $6 million grant to a gas producer wholly-owned by a massive Chinese …

Hobart possesses same trifecta of factors that drove Sydney real estate to its peak, report shows

Hobart possesses same trifecta of factors that drove Sydney real estate to its peak, report shows

By Erin Cooper Updated April 23, 2018 12:19:12 Photo: Cheap prices, Airbnb and low interest rates have Hobart looking like Sydney. (Hobart City Council/ABC News) Hobart’s housing market looks a lot like Sydney’s did two years ago, a business outlook report for the March quarter says. The Deloitte Access Economics …