Water pipeline to be built for Broken Hill
A 270km pipeline from the Murray River is set to be built to help residents in the far west NSW town of Broken Hill deal with water supply problems.The pipeline is part of a $500 million package being released in next week's budget, NSW Premier Mike Baird has announced."Water security has been a constant challenge for Broken Hill since it was founded in 1883," Mr Baird said."This unprecedented investment will provide a reliable water source for the historic township and surrounding communities f..>> view originalPoorest households claim biggest wealth gains, says RBA
A new report says construction of 55,000 houses a year would boost the economy. Virginia Star Australia's poorest households enjoyed the biggest gains in wealth over recent years, according to Reserve Bank of Australia research that challenges widespread claims inequality is getting worse.Using annual household data, the Reserve Bank's researchers found the bottom 20 per cent of households saw their wealth increase by more than 21 per cent betw..>> view originalrally fades as Brexit worries resurface
'You have to approach markets with caution until the Brexit vote.' Photo: Bloomberg Australian shares closed flat on Thursday, an improvement of sorts after five straight losses, after continuing investor caution over a British exit from the European Union wiped out the gains from a promising morning rally. The benchmark S&P/ASX200 index was up nearly 1 per cent in the first hour of trade but by the close had drifted to close marginally lower at 5146.0, down ..>> view originalClydesdale Bank not spooked by Brexit
Unfazed: (left to right) Clydesdale Bank chief executive David Duffy, NAB chief financial officer Craig Drummond, and Clydesdale Bank CFO Ian Smith. Photo: Sahlan Hayes A vote in favour of Brexit would spark more volatility, Clydesdale Bank chief David Duffy said but he moved to calm the nerves of its 400,000 Australian retail shareholders by saying it would have a limited impact on the bank's financial performance.Mr Duffy also flagged more action to rein in..>> view originalMacquarie to pitch Inghams IPO to fund managers
Senior bankers from eight investment banks including UBS, Citigroup, Deutsche Bank and Goldman Sachs are expected to front Inghams' private equity owners TPG in Melbourne on Friday, as revealed by Street Talk.This column understands the banks' equity capital markets teams have been called in to pitch for mandates on the $1 billion-plus sale, which is expected to include a float. The meetings will kick off on Friday.Street Talk can also reveal Macquarie Capital has already secured a role with no..>> view originalUnaoil used global networks to move corrupt funds
Video will begin in 5 seconds. Unaoil: inside the 'bribe factory' Take a look inside Unaoil, the Monaco oil services firm which funneled huge sums of cash to multinational companies and government officials. PT2M10S 620 349 The Monaco-based oil company at the centre of a global bribery scandal used a network of offshore accounts and companies to shift funds under the noses of authorities.The movement of funds around the world by Unaoil - now at the centre of international pol..>> view originalCrown carve-up: Packer gets richer but is there a catch?
Comment To date ,nothing James Packer has done suggests he is content to sit on his existing empire. Photo: AFP James Packer, one of Australia's richest people, just got half a billion dollars richer – at least on paper.The value of shares in his flagship gaming group Crown Resorts – in which he has a 53 per cent stake – rose 13.06 per cent on Thursday.In the space of an hour in the morning session, Crown Resorts' value jumped more than $1 billion. ..>> view originalRBA's Christopher Kent escalates China warnings, says $A would fall in crisis
As in the late 1990s, the $A would likely depreciate 'in response to negative developments in external conditions' which could be 'expected to act as a buffer in the way that it has in the past,' says RBA assistant governor Christopher Kent. Brendon Thorne The Reserve Bank of Australia has escalated warnings about China's debt and questioned the country's reliance on interest rate stimulus over structural reform.While the Reserve Bank expects ..>> view originalMedibank accused of concealing policy changes to pump up profits before sale: ACCC
Video will begin in 5 seconds. Medibank accused of secret policy changes: ACCC ACCC chairman Rod Sims says Medibank may have affected many customers by allegedly failing to inform them of a 2014 policy change. PT1M41S 620 349 Australia's biggest health insurer has been accused of concealing policy changes - which left patients with large, unexpected bills - as part of its attempt to boost profits ahead of its privatisation.The Australian Competition and Consumer Commission ..>> view originalUnemployment steady at 5.7 per cent
Just the job. Australia's headline unemployment rate held steady in May, taking pressure off the RBA to cut rates again. Photo: Louise Kennerley The unemployment rate held steady at 5.7 per cent in May, taking some pressure off the Reserve Bank of Australia to cut interest rates further.The Australian Bureau of Statistics said on Thursday its latest labour force survey showed a net 18,000 jobs were created during the month, leaving the official unemployment r..>> view original
Thursday, June 16, 2016
Water pipeline to be built for Broken Hill and other top stories.
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