Category: News
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Malcolm Turnbull in delayed meeting with Donald Trump
Prime Minister Malcolm Turnbull is finally meeting with US President Donald Trump this morning, after an intended meeting yesterday was delayed due to Trump’s occupation with his renewed healthcare bill. Mr Trump chose to remain in Washington last night instead of travelling to New York to meet with Mr Turnbull as he oversaw the passage…
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NAB posts $2.5bn profits but does not meet expectations
National Australia Bank (NAB) has posted an overall net profit for the first half of the financial year of $2.5 billion which, while falling short of expectations, has marked a dramatic improvement on the $1.7 billion loss posted this time last year. NAB’s cash profit, which is the bank’s preferred performance measure since it is…
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Turnbull government defends action on gas prices
The Federal Government has defended its move to place export restrictions on domestic gas supplies, after the Opposition questioned the claim that gas prices could be reduced by half under the new measures. The government has moved to remedy the current situation, wherein the vast majority of Australia’s domestic gas is shipped overseas, by placing restrictions…
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Federal Budget to distinguish between ‘good debt’ and ‘bad debt’
Federal Treasurer Scott Morrison has announced changes to the way the upcoming budget will be reported, to clarify the differences between ‘good debt’ and ‘bad debt’, adding to the new ideas being touted for this year’s budget review. Mr Morrison will announce the changes in a speech at a lunch with the Australian Business Economists today…
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Tesla recalls luxury model cars globally
Tesla’s luxury electric Model S and Model X cars have suddenly been recalled worldwide due to concerns that their parking brakes pose a possible safety threat. The major recall is cautionary and thankfully there have been no reported incidents, but Tesla wants to avoid last year’s debacle. The vehicles being recalled are Model S and Model…
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Chevron loses appeal against ATO
US energy giant Chevron is now facing one of the largest tax bills in Australian history after it lost its appeal against the Australian Tax Office (ATO). In a unanimous decision, three Federal Court judges dismissed the appeal, which was originally launched in December last year. The decision involves Chevron underpaying tax in the years…
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Opposition presents alternative housing affordability plan
The Federal Opposition has presented an alternative solution to the housing affordability crisis, detailing a plan to crack down on self-managed superannuation funds as well as imposing higher fees and penalties on foreign property investors. Ahead of next month’s Federal Budget, which will reportedly include a Coalition plan to combat housing affordability problems, Labor has put…
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Panasonic is changing how we shop
The way we currently do supermarket shopping is set to become a thing of the past with many companies inventing technology to revolutionize the experience. In Japan, Panasonic is currently rolling out the Reji Robo, a piece of technology which completely changes how checkouts operate, even removing the need to bag items by hand. The technology works…
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Government to tighten citizenship requirements
The Federal Government have announced plans to implement more stringent citizenship requirements in the near future, including display of genuine “Australian values”. Any migrants wishing to gain Australian citizenship will face a tougher citizenship test designed to prove both commitment to the Australian nation and to the values of religious freedom and gender equality. Immigration…
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Baidu has made its self driving cars available to the auto industry
Baidu is a Chinese search engine giant that has announced their plans to make self driving cars a reality for many car manufacturers around the world. They’re planning on doing this through the project called “Apollo”, which will let car manufacturers use software to help develop their own self driving/autonomous cars a reality. According to…