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The inflation figure is good for the RBA but not the rest of us - The Australian Financial Review

Consumers haven't been this downbeat since the beginning of 2016.

For a central bank putting financial stability as its major priority right now, the latest inflation numbers are a welcome sign for the Reserve Bank of Australia.

But for everyone else the first quarter report wasn't such good reading.

Inflation is still low but rising slowly, yet wages aren't keeping up with that increase, which means we're all going backwards at a time when household debt is at a record high.

The latest wages data shows an annual growth rate of 1.6 per cent while Wednesday's inflation report revealed an annual headline rate of 2.1 per cent and 1.9 per cent for underlying inflation.

Paul Dales no longer thinks the RBA will cut rates to just 1 per cent.

Paul Dales no longer thinks the RBA will cut rates to just 1 per cent.

Paul Dales no longer thinks the RBA will cut rates to just 1 per cent. Louie Douvis

At the same time consumers are forking out more for petrol and electricity.

That means we're all feeling the pinch and it's...


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Read more: The inflation figure is good for the RBA but not the rest of us - The Australian Financial Review

Malcolm Turnbull says he cannot guarantee gas prices will halve - NEWS.com.au

Queensland gas exports will be restricted if a domestic gas shortage should occur, Australian Prime Minister Malcolm Turnbull announced on Thursday, April 27, while on a visit to an industrial chemicals plant at Gibson Island in Queensland. The move was made to stop Australians from paying higher prices for gas while exporters benefited, Turnbull said, in a move criticised by some in the gas industry. According to the Courier Mail Australians pay more for Australian gas than Japanese consumers, and there are fears Australians may face shortages. Credit: The PMO via Storyful

Malcolm Turnbull has hit back at Labor claims he pledged wholesale gas prices would halve under his short-term solution to address looming domestic supply shortages. Picture Kym Smith

MALCOLM Turnbull has hit back at Labor claims he pledged wholesale gas prices would halve under his short-term...


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Read more: Malcolm Turnbull says he cannot guarantee gas prices will halve - NEWS.com.au

Qantas non-stop Perth-London flights go on sale from $2270 - NEWS.com.au

Qantas' Feels Like Home campaign has had another makeover to promote the 787 Perth-London flights starting next year.

Qantas’ new Perth-London route goes on sale today.

IT’S the flight Aussies have been waiting to book.

Qantas’ direct Perth-London route goes on sale today, initially priced from $2270 for a return economy fare, but the airline says that figure is likely to be reduced to under $2000 during sales.

Travellers seeking greater comfort during the marathon flight will pay $4250 for a Premium Economy seat or $9725 in Business Class.

10 NEW FLIGHT ROUTES TO GET EXCITED ABOUT

LONDON: THE NEW BUDGET HOLIDAY FOR AUSSIES

SIX THINGS YOU MUST DO IN PERTH

THE QANTAS SAFETY VIDEO THAT’S SELLING OZ

The 18-hour service will become the world’s longest non-stop Boeing 787 flight, and is billed a game changer for the airline — and the Australian tourism industry.

The...


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Read more: Qantas non-stop Perth-London flights go on sale from $2270 - NEWS.com.au

Jetstar hits back at 'worst airline' claim - NEWS.com.au

David Koch reveals some travel tips to help you save money.

Jetstar has hit back at claims it is the world’s worst airline. Picture: Brendon Thorne/Bloomberg

LOW-cost carrier Jetstar has hit back at claims it is the worst airline in the world and said the findings research by consumer watchdog Choice had no credibility.

Data compiled by 11 consumer groups globally including Choice was released earlier today after 11,000 passengers who travelled in the past year gave feedback and scored the performance of 73 airlines.

The findings showed Qantas was ranked as the best of the national carriers (ranking 36), ahead of rival airline Virgin Australia (51) and Jetstar came in last (73).

Qantas was listed as the best of the Australian airlines from a recent global survey.

Qantas was listed as the best of the Australian airlines from a recent global survey.Source:News Corp Australia

Jetstar spokesman Luke Enright criticised how the research was conducted...


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Read more: Jetstar hits back at 'worst airline' claim - NEWS.com.au

ResMed boss says Silicon Valley waking up to sleep innovation - The Australian

ResMed boss says Silicon Valley waking up to sleep innovation
ResMed chief executive Mick Farrell: ‘We have created the “iPhone” for sleep apnoea.’ Picture: Hollie Adams.

The importance of sleep is the hot topic in Silicon Valley, says ResMed chief executive Mick Farrell, as his company “doubles down” on innovation.

Mr Farrell said he was in Silicon Valley this week and everybody was talking about the importance of sleep. “It’s a highly competitive ­environment and competitors are having to chase us to where we’ve gone in digital health and connected care,” he said. “Because it’s so good for the customers, they have had to follow us there.”

ResMed has reported a 13 per cent jump in revenue for the third quarter to $514.2 million, which included a contribution from new asset Brightree.

“It is a solid all-round result. We have really succeeded in moving the industry to being a...


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Read more: ResMed boss says Silicon Valley waking up to sleep innovation - The Australian

Gas tax review confirms nation faces decade wait for revenue - The Sydney Morning Herald

Multinational gas companies will soon sell an annual $50 billion worth of Australian liquefied natural gas to foreign markets, but the nation will have to wait more than a decade for any revenue boost and some projects will never pay a cent in tax for the resources they extract.

A report prepared for the Turnbull government into the petroleum resource rent tax has confirmed fears, first revealed by Fairfax Media in 2015, that revenue from offshore gas will continue to flatline until at least 2027.

'I want to die in this building'

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Read more: Gas tax review confirms nation faces decade wait for revenue - The Sydney Morning Herald
Tags: revenue,sydney,morning,herald,wait,decade,review,tax,confirms,nation,faces,gas

Why it's silly to debate 'good' versus 'bad' debt - The Sydney Morning Herald

The Treasurer, Scott Morrison, strayed into some rather silly territory this week in a speech seeking to lay down a new set of markers for the budget, divvying up government debt into "good" and "bad" debt.

In a small way, it's nice to have a concession – at last - that government debt is not always "bad".

Will bank earnings drive the ASX 200 towards 6000?

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Will bank earnings drive the ASX 200 ...

Will...


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Read more: Why it's silly to debate 'good' versus 'bad' debt - The Sydney Morning Herald
Tags: sydney,morning,herald,debt,debate,good,bad,silly

Regulator sues former MG boss Helou over dairy co-op prices - The Australian

Former Murray-Goulburn boss Gary Helou. Picture: Gregory Scullin

Former Murray Goulburn boss Gary Helou faces hundreds of thousands of dollars in fines and years banned from corporate life if legal action launched against him by the competition regulator, over the price he promised to pay farmers for milk, succeeds.

In a Federal Court lawsuit filed yesterday, the Australian Competition & Consumer Commission accused Murray Goulburn, Mr Helou and the company’s former chief financial officer, Bradley Hingle, of misleading dairy farmers by forecasting it would pay them $6.05 for every kilo of milk solids they delivered in the 2016 financial year.

The forecast, made in May 2015 as the co-operative prepared for a partial float on the stock exchange, proved wildly optimistic, leading to farmer outrage when Murray Goulburn slashed it to less than $5 in April the following year and invited...


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Read more: Regulator sues former MG boss Helou over dairy co-op prices - The Australian
Tags: co-op,prices,australian,dairy,helou,sues,boss,regulator

Once and for all: Obama didn't crush US coal, and Trump can't save it - Vox

Coal has always had strong cultural resonance in the US.

[embedded content]

In his campaign, Donald Trump seized on that resonance with an odd kind of fervor, using miners as props in political rallies and promising, again and again, to put them back to work. He has managed to make the fate of coal miners a synecdoche for the fate of the white working class writ large.

What’s distasteful about the whole thing is that Trump has won the allegiance of coal communities by reinforcing and amplifying the same lie they have been told by right-wing media and politicians for years: that Obama’s pollution regulations on the US coal industry are responsible for its (and their) recent woes.

It’s not true. And the information that shows it’s not true is easily available, so they should know it’s not true. Many probably do. But it is a convenient lie, one that riles up a reliable political...


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Read more: Once and for all: Obama didn't crush US coal, and Trump can't save it - Vox
Tags: save,vox,trump,coal,didn,crush,obama

Port Hedland approves increase in BHP Billiton iron ore exports - The Australian Financial Review

The increase is part of an effort by BHP to lift shipments through the port by 20 million tonnes to 290 million tonnes by 2019.

by Timothy Moore

BHP Billiton has secured approval from the town of Port Hedland to increase the amount of iron ore it can ship through the port by 5 million tonnes to 275 million tonnes a year.

The increase is part of an effort by BHP to lift shipments through the port by 20 million tonnes to 290 million tonnes by 2019. That initial request was knocked back amid concerns by some local businesses about the level of dust in the air as a result of the stockpiling of iron ore before being shipped.

BHP in March lodged a submission with the Department of Environment Regulation to increase its export licence from 270 million tonnes a year to 275 million tonnes.

"It is extremely important to ensure continued operations at BHP, one of Port Hedland's largest...


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Read more: Port Hedland approves increase in BHP Billiton iron ore exports - The Australian Financial Review
Tags: exports,australian,financial,review,ore,iron,approves,hedland,increase,bhp,billiton,port

House prices fall in Sydney for first time in 18 months - The Sydney Morning Herald

Sydney house prices are set to suffer their first fall in 18 months, new figures show, in the wake of strong action from regulators designed to curb the growth in investor loans.

The survey could offer some relief to owner-occupiers who have been locked out of the Sydney and Melbourne markets, and to the Turnbull government as it plays down housing affordability as the focus of the May budget. 

Elaine Gardens

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Elaine Gardens

Elaine Gardens

In 2016, a promotional campaign was launched for Elaine Gardens. Let's take a look.

States BBQ: Dream...


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Read more: House prices fall in Sydney for first time in 18 months - The Sydney Morning Herald
Tags: sydney,morning,herald,months,time,prices,fall,house

Murray Goulburn will face court over milk price advice that devastated the dairy industry. - ABC Online

The competition watchdog is taking milk processor Murray Goulburn to court, alleging it behaved unconscionably and misled farmers on the milk prices they could expect to receive.

In April last year, Murray Goulburn slashed farm gate milk prices and forced farmers to pay back money they had already received.

The decision left many farmers individually owing Murray Goulburn (MG) in excess of $100,000 and sparked a crisis in the sector.

The Australian Competition and Consumer Commission (ACCC) said today it was taking action against Murray Goulburn in the Federal Court, alleging the information it provided to farmers in the months before dropping the milk price was "false and misleading."

ACCC chairman Rod Sims said farmers who were not expecting the price cut were adversely affected and not able to re-adjust their budgets.

"We'll be alleging that Murray Goulburn knew that farmers relied on...


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Read more: Murray Goulburn will face court over milk price advice that devastated the dairy industry. - ABC...
Tags: industry,dairy,abc,online,devastated,advice,face,goulburn,court,milk,price,murray

Why the Slater & Gordon Limited share price is sinking again - Motley Fool Australia

Things aren?t getting any better for investors in Slater & Gordon Limited (ASX: SGH) with the shares down 2% to 9.5 cents on Friday afternoon and down 28% over the past month.

The share price has been sliding over the last month after the law firm announced most of its giant debt pile had been sold on by creditor banks such as Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB) to distressed debt and private capital specialists mainly headquartered in the US.

As a result the company?s new senior lenders have reportedly agreed to allow Slater &…

Things aren’t getting any better for investors in Slater & Gordon Limited (ASX: SGH) with the shares down 2% to 9.5 cents on Friday afternoon and down 28% over the past month.

The share price has been sliding over the last month after the law firm announced most of its giant debt pile had been sold on by creditor banks...


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Read more: Why the Slater & Gordon Limited share price is sinking again - Motley Fool Australia
Tags: motley,fool,australia,sinking,price,gordon,limited,share,slater

Pacific Consortium abandons Tatts fight after sweetened offer rejected - The Australian

Tatts Group chief executive Robbie Cooke. (Glenn Hunt/The Australian)

The Pacific Consortium has walked away from its fight for Tatts after the target’s board refused the suitor access to its data room.

The consortium said it was disappointed at the decision not to permit it due diligence on its revised $4.21-cash-per-share offer to acquire Tatts.

The rival bidder said it continued to believe its proposal was superior to the agreed Tabcorp merger, adding it also believed there was no legal impediment to the Tatts’ board allowing the consortium to conduct due diligence.

“This is certainly a very disappointing day for Tatts shareholders. Given the current approach of the Tatts board the consortium does not intend to undertake further work on its proposal.” Consortium chair Kerry Schott said.

The board of Tatts earlier rejected the Macquarie-led consortium’s attempt to access its data...


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Read more: Pacific Consortium abandons Tatts fight after sweetened offer rejected - The Australian
Tags: offer,rejected,australian,sweetened,fight,consortium,abandons,tatts,pacific

AFP admits to metadata breach - The Australian

Commissioner of the Australian Federal Police Andrew Colvin tells of the metadata breach.

The Australian Federal Police have admitted to illegally accessing a journalist’s phone records.

AFP Chief Commissioner Andrew Colvin held a press conference this afternoon to reveal that the AFP had self-reported the incident to the Commonwealth Ombudsman. The breach of the Telecommunications Act involved an AFP member who was conducting an internal investigation into the leaking of sensitive information to a reporter earlier this year.

The AFP investigator did not obtain a Journalist Information Warrant, as is required by law, before requesting the journalist’s call charge records and telecommunications data.

Commissioner Colvin said it was only the records of calls and not their content which was accessed.

“The actual investigation, the internal investigation that led to this breach, is...


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Read more: AFP admits to metadata breach - The Australian
Tags: australian,breach,metadata,admits,afp

We can't 'hold back the tide' in housing market: APRA's Wayne Byres - The Sydney Morning Herald

Australia's powerful banking regulator has stressed it cannot "hold back the tide" of the property cycle and exert control over house prices, underlining the limitations of recent curbs on bank home lending.

Wayne Byres, chair of the Australian Prudential Regulation Authority, highlighted this reality as he also flagged "further tightening" from banks in the $1.5 trillion mortgage market.

APRA's Wayne Byres expects more tightening from banks in the home loan market. APRA's Wayne Byres expects more tightening from banks in the home loan market. Photo: Louie Douvis

In response to a rapid build-up of household debt and soaring Sydney and Melbourne house prices, Mr Byres last month unveiled new caps on interest-only lending by banks, causing lenders to raise interest rates for some borrowers.

ANZ was the latest bank to respond on Friday, raising fixed interest rates for customers taking out interest-only home loans by up to 0.4 percentage points. It also cut fixed...


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Read more: We can't 'hold back the tide' in housing market: APRA's Wayne Byres - The Sydney Morning Herald
Tags: sydney,morning,herald,byres,wayne,tide,housing,market,apra,hold

'Pythonesque': Westpac's climate policy seen to rule out lending to Adani coal - The Sydney Morning Herald

Westpac's decision to effectively rule out lending to the proposed giant Adani coal mine in Queensland has drawn praise from environmentalists but prompted the Turnbull government to dub the move "Pythonesque".

The bank on Friday released its updated position statement on climate change, stating Westpac had "long recognised that climate change is one of the most significant issues that will impact the long-term prosperity of our economy and way of life".

Melbourne teen arrested over school bomb hoax

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Read more: 'Pythonesque': Westpac's climate policy seen to rule out lending to Adani coal - The Sydney...
Tags: coal,sydney,morning,herald,adani,lending,westpac,climate,policy,rule,pythonesque

Jetstar hits back at 'worst airline' claim - NEWS.com.au

David Koch reveals some travel tips to help you save money.

Jetstar has hit back at claims it is the world’s worst airline. Picture: Brendon Thorne/Bloomberg

LOW-cost carrier Jetstar has hit back at claims it is the worst airline in the world and said the findings research by consumer watchdog Choice had no credibility.

Data compiled by 11 consumer groups globally including Choice was released yesterday (FRI) after 11,000 passengers who travelled in the past year gave feedback and scored the performance of 73 airlines.

The findings showed Qantas was ranked as the best of the national carriers (ranking 36), ahead of rival airline Virgin Australia (51) and Jetstar came in last (73).

Qantas was listed as the best of the Australian airlines from a recent global survey.

Qantas was listed as the best of the Australian airlines from a recent global survey.Source:News Corp Australia

Jetstar spokesman Luke Enright criticised how the research was conducted...


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Read more: Jetstar hits back at 'worst airline' claim - NEWS.com.au
Tags: news,claim,airline,hits,worst,jetstar

Chevron faces fresh ATO audit - The Australian

Chevron faces fresh ATO audit
Senator Sam Dastyari holding an image of his daughter at the hearing, and asking representatives of Chevron at what age his daughter would be when they will contribute to the PRT. Photo: Matthew Poon.

International oil giant Chevron has revealed it is facing a second, separate audit from the Australian Taxation Office over its financial affairs.

Under questioning at a Senate hearing into corporate tax avoidance in Perth yesterday, Chevron Australia managing director Nigel Hearne and tax manager Michael Fenner revealed the group was in talks with the ATO over the deductibility of some of the tens of billions of dollars it has invested in its Australian liquefied natural gas projects.

The revelation overshadowed the group’s efforts to restore the reputational damage it has suffered since last week’s decision by the Federal Court that Chevron could...


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Read more: Chevron faces fresh ATO audit - The Australian
Tags: australian,audit,ato,faces,fresh,chevron

YouTube ad boycott expected to cost Alphabet Co billions - NEWS.com.au

Alphabet Inc's YouTube said on Thursday it would place ads on videos only if they reach 10,000 views as it tries to weed out channels that make money by stealing content from other sources.

YOUTUBE’S inability to keep big-brand ads off unsavoury videos is threatening to transform a rising star in Google’s digital family into a problem child.

It’s not yet clear whether a recent ad boycott of YouTube will be short-lived or the start of a long-term shift away from the video service — one that could undercut Google’s growth and that of its corporate parent, Alphabet Inc.

Alphabet’s first-quarter results, released Thursday, provided few clues. Major advertisers didn’t start pulling their money from YouTube until the three-month period was nearly over.

Car giants Holden and Kia were among a long list of companies that pulled their ads from the site, after unwittingly...


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Read more: YouTube ad boycott expected to cost Alphabet Co billions - NEWS.com.au
Tags: billions,news,alphabet,cost,boycott,expected,youtube

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