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Miners, steel mills reject hare-brained Forrest's cartel

Andrew Forrest proposed a co-ordinated cap on Tuesday in response to the impact that excess supply from the pilbara was having on iron ore prices.
Peter Ker and Tess Ingram

Fortescue Metals Group chairman Andrew Forrest's has earned widespread ridicule from big mining bosses over his call for an Australian iron ore cartel as Chinese Steel officials dismissed the idea as unworkable.

One of the Trowbridge Report's recommendations is that planners receive an initial advice payment of no more than $1200 per customer.

Call for life insurance commission cap

Ruth Liew and Sally Rose

Financial planners should get no more than $1200 upfront for life insurance advice, the Trowbridge Report says.

The committee recommended the onus should be on the ATO to prove the accused taxpayer was guilty.

Calls for rethink on ATO powers

Nassim Khadem

The Abbott government should change the law so that it places the burden of proof on the Australian Taxation Office, according to the final recommendations of the inquiry into tax disputes.

Currencies

Last updated:
United States Dollar
0.7841 -0.03%
Euro
0.7171 0.32%
British Pound
0.5282 0.21%

In Depth

Women narrow the gap

Tech giants like Apple, Google and Facebook are taking their financial talent from Wall Street.
Carol Hymowitz

Tech giants like Apple, Google and Facebook are taking their financial talent from Wall Street.

Try the Warren Buffet diet

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Zachary Tracer

The billionaire's taste for junk food is well known. His latest deal, the merger of Kraft and Heinz, makes for an artery-clogging menu.

Trading Room

Miners undermining wealth

Claude Walker

If these price falls have served any purpose, it’s to remind us of the risks faced by those who invest their retirement savings in mining, oil and gas.

Markets

Investors must be 'vigilant' as volatility looms

Alliance Bernstein's Jeremy Cunningham says investors should be 'vigilant' with potential writedowns ahead.
Mark Mulligan

Investor hunger for returns is driving up risk in some fixed-income segments, says a portfolio head at asset manager AllianceBernstein.

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Banking & Finance

Banks fear budget may slog depositors

Bank customers will likely get hit with any costs imposed for the financial claims scheme.
James Eyers

Banks will use submissions to Treasury on the financial system inquiry to lobby against charging an up-front fee for the financial claims scheme.

'Now is the time to act' on banking system safety

Customer owned banks want the financial system inquiry implemented quickly.
James Eyers

The nation's credit unions, building societies and mutual banks have called on the government to increase the resilience of the financial system and boost banking competition.

Mining & Resources

World Business

China

Give China a reserve currency

<p>
William Pesek

Increased use of the yuan as one of the world's reserve currencies will force China to restructure more radically than its leaders may realise.

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Property Focus

RBA warns of commercial property slump

Sydney faces the choice of whether it wishes to grow up or out.
Michael Heath

Easy monetary policy globally is spurring demand for the nation's office buildings, even as vacancies climb and rents fall, raising risks of a future price slump.

Executive Style

Money

Small Business

Face it, you're racist

Have you really looked at your attitudes towards people who are not like you?
James Adonis

Reckon you're not? Complete one of these tests to find out for sure.

Business Video

Germanwings crash puts aviation under spotlight

As French investigators search for clues as to why Germanwings flight 4U9525 crashed, killing all 150 on board, there's a lot at stake for the companies involved.

Duration
02:19