Holden says no to Abbott car export plan
General Motors Holden has rejected as unrealistic an Abbott government demand that it boost exports in return for ongoing taxpayer-funded industry assistance.
PM backs bigger world role for ‘our friend’ Japan
Prime Minister Tony Abbott has described Japan as Australia’s “best friend in Asia”, while also extending an invitation for Prime Minister Shinzo Abe to make a historic address to the Australian Parliament.
Labor leadership contest looks a tight finish
Former Labor leader Kevin Rudd will be absent on Thursday when Labor gathers in his shadow for the first of two ballots to choose its leader, under rules he made the party adopt after he returned to the leadership.
Clive Palmer to get bigger say, and pay
Updated | The party controlled by Queensland businessman Clive Palmer has agreed to vote as a bloc with the new Australian Motoring Enthusiast Party (AMEP) senator, Ricky Muir, a move that will give Mr Palmer an even bigger say in Canberra.
Australians tired of propping up manufacturing: report
Australians are tiring of taxpayer-funded support for the manufacturing industry, with two thirds of the population thinking the sector is in decline and can’t compete on a global basis, news reports said.
Early repeal of carbon price could cost government $2bn
The Coalition government could owe companies billions in refunds for freely allocated permits if it repeals the current Carbon Pricing Scheme before 2015, fresh analysis by RepuTex shows.
Leighton’s King ‘not of good repute’: report
A public inquiry earlier found that Wal King, the former chief executive of Leighton Holdings, which is caught up in a bribery scandal, was “not of good repute, ‘having regard to character, honesty and integrity’”, Fairfax Media reported.
ACCC doesn’t plan another review of GrainCorp offer
Updated | Australian Competition and Consumer Chairman Rod Sims says he doesn’t plan another review of the $3 billion Archer Daniels Midland takeover offer for GrainCorp even though Liberal politician Bill Heffernan claims to have fresh evidence that could influence approval of the bid.
Court hears Rinehart’s trust changes hidden from daughter
The country’s richest person, Gina Rinehart, allegedly “fundamentally” breached her duty as trustee when she altered the family company’s constitution during a multibillion dollar joint venture with Rio Tinto.
Free speech is Abbott’s first victim
Mark Latham | The Abbott government’s commitment to a new era of free speech turned out to be as bogus as its taxpayer-funded travel expenses.
Mossgreen puts head above ramparts with merge, new site and tea room
Melbourne’s Mossgreen auction house is having a big year. It started in April with a capital injection from wealthy former engineer Jack Gringlas that effected a merger with stamps and collectibles firm Charles Leski and the purchase of the former Sotheby’s saleroom, the historic Armadale Picture Theatre.
Delusions of the true believers
Editorial | After its stunning election loss in September, the Labor party needs to separated from its union base and dragged back to the centre.
It’s not just about trade deals but also reforms at home
The challenge is to drive Australia’s free trade agenda forward. But in addition to locking down trade deals, there are still reforms to be taken at home.
Economy
IMF fears US tightening and China credit are risks to system
The global financial system faces multiple threats in the next 12 months, in particular from China’s effort to avoid a credit crunch and the US central bank’s plan to end its monetary stimulus program.
NAB’s Clyne urges caution on cutting interest rates
National Australia Bank chief Cameron Clyne has told home owners not to worry about a collapse in house prices, soothing fears of a property bubble fuelled by record low interest rates.
Politics
PM backs bigger world role for ‘our friend’ Japan
Prime Minister Tony Abbott has described Japan as Australia’s “best friend in Asia”, while also extending an invitation for Prime Minister Shinzo Abe to make a historic address to the Australian Parliament.
Australians tired of propping up manufacturing: report
Australians are tiring of taxpayer-funded support for the manufacturing industry, with two thirds of the population thinking the sector is in decline and can’t compete on a global basis, news reports said.
Legal Affairs
Put these corkers on the Brandis book list
Their training is probably more long lunches than sprint racing, but the best of the best seems to come in foursomes – be it fearsome, or oarsome. For 300 general counsel and decision makers from some of the world’s biggest companies, fronting up against a select few firms is the stuff of nightmares.
Brandis wedding speech: schmoozing or rorting
Senator Brandis charged the taxpayers $1683.06 for his wedding speech in December 2011. He repaid that this week. Even from the high ground of government, he apparently preferred not to try and defend a night of networking with friendly journalists at a wedding as “parliamentary or electorate business”. Wise choice.
Education
Pyne plans easier path for foreign students
Foreigners with Australia degrees should be pushed to the front of the migration queue, Education Minister Christopher Pyne has said, as he tries to revive the international education industry.
Australian adults better at words than numbers
Australia’s adult population ranks among the highest in the developed world in literacy but is only average in numeracy according to the OECD’s first ever international survey of adult skills.
Arts & Saleroom
Shortlist of 73 works released for 62nd Blake Prize
The judges of this year’s $25,000 Blake PRIZE, which explores themes of religion and spirituality through art, have released their shortlist of 73 works, culled from more than 900 entries.
Art collecting investor calls for Sotheby’s shake-up
Activist investor Daniel S. Loeb said last Wednesday that he wanted to join the board of auction house Sotheby’s in New York and called for the chief executive to step down.
