Archived News for Finance Sector Professionals - July, 2013
A former senior executive with the Westpac Bank has been named the new CEO of the parent company to Red Rooster and Oporto.
Finding reverse on tax re-jig
The Federal Government is considering a rebate plan for public sector workers who buy locally-made cars, in what has been called an attempt to repair the political damage from proposed changes to the fringe benefits tax.
Labor darts for tobacco tax hike
The Federal Government is hoping to raise over $5 billion in the next four years from an increase in the tax on tobacco.
Northparkes goes to China as Rio recoups
Rio Tinto has rid itself of a mine in central NSW and made a cool $892 million in the process.
Asbestos suspension hits subs
The Communications Electrical Plumbing Union says thousands of electrical and telephone subcontracters could face financial ruin if the timetables and funding for the NBN roll-out are not sorted soon.
Building a plug for the mining hole
New building forecasts have suggested Australia's construction and housing markets may be able to pick up the economic slack of a slowed-down mining sector.
Health workers slugged in FBT changes
Hospitals and their staff could be hit hard by planned changes to the fringe benefits tax, with reports the health sector could lose up to $200 million in the fallout.
Banking boss praises troops
The Macquarie Group says some keen business decisions and strategic acquisitions have stood them in good stead, financially speaking.
Chinese factories slip, the AUD dips
More signs of a slow-down in the economy of Australia’s biggest trading partner have sparked a drop in the AUD.
Costly Canberra breaks housing record
The median house price in Canberra remains about half a million dollars, currently at its highest point ever after positive moves in the local economy.
Court hears of massive loans on the eve of insolvency
The trial is on for the former director of collapsed stockbroking firm Opes Prime, Julian Smith has pleaded not guilty to accusations of dishonest actions.
Facebook staggers toward opening price
Facebook stock has plotted an upward path in the second quarter of 2013 with prices outstripping expectations, boosted by ad sales on mobile devices.
Greens call out Port on figure-fudging
The sale of Newcastle's port has been mired by accusations of bodged figures from the New South Wales Greens.
Kirk joins niche investors
A new appointment has been made to the non-executive board of the boutique investment management firm Implemented Portfolios Pty Ltd; the group announced Greg Kirk.
Petrol prices drain national wallet
Petrol prices were up across the country this week with Perth residents are being hit hardest at the bowser, reports say fuel prices in WA reached a record high this week.
QLD Ed. asked where the kid's money has gone
The Queensland Government claims early childhood education is a big priority - leading school authorities across the state to ask why $100 million less was spent on pre-schools and kindergartens than had been budgeted.
'Public' hospital, privately run
In a bold offer to the private sector the Queensland Government says it will entirely outsource the daily operation of a Sunshine Coast hospital.
Darwin leads nation's inflation
Official figures out this week have shown Australia's annual rate of inflation has slowed to 2.4 per cent, and Darwin’s inflation rate growth remains the highest among the nation's capital cities.
Alarm over FBT adjustment
A group of companies is looking to meet with the Federal Government over its planned changes to the fringe benefits tax, after they were announced to offset the cost of shifting carbon price plans.
Billabong surfs past buy-out
Billabong has rejected a buy-out offer from hedge fund investors, saying the proposal was unacceptable.
Breakdown of Motor City finance
The US city of Detroit has taken the dubious honour of being the largest city in the country’s history to file for bankruptcy, drowning in a debt of $US18.5 billion.