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Apr 3, 2012

Financial and Forex Info News | The Australian Capital Circle: State treasurers take fight to Canberra

State treasurers take fight to Canberra
WAYNE Swan faces a beating from state counterparts as the conservative states flex their muscles at today's treasurers meeting.

First off: State treasurers are preparing for a day of talks in Canberra with Wayne Swan. NSW Treasurer Mike Baird told The Australian Online he was expecting the meetings to be "testy". "If Wayne Swan wants a fight he will get one," Mr Baird said. Swan will have few allies in the meetings today with the NSW, Queensland, Victorian and West Australian treasurers all from conservative states. South Australian Treasurer Jack Snelling, a fellow Labor man, also expressed his frustration, accusing the ­federal government of bleeding already strained state budgets to guarantee its own surplus.
On the back of his election landslide, Queensland premier Campbell Newman has spoken up defiantly for the state in anticipation of a federally mandated National Disability Insurance Scheme. "We're very happy to co-operate in things that make sense in terms of standardisation of regulations and laws across the nation. But we're not going to lie down and let Queensland be trampled on." (Oz)
The Craig Thomson saga will drag on for months, the SMH reports, after Fair Work Australia referred the matter for possible criminal charges. The Australian reports the move could underpin a no-confidence push by Tony Abbott in parliament.
Julia Gillard is in Sydney today and will speak at a community cabinet meeting in Parramatta in the city's west tonight.

Tony Abbott is in Cairns this morning and will visit another local business to discuss the carbon tax. He will hold a doorstop before flying back to Sydney tonight.

Diary: Conservative state treasurers will hold a doorstop at parliament house at 8.30am. The treasurers' meeting starts at 9am. Business Council of Australia president Tony Shepherd
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Financial and Forex Info News | The Australian Business Briefing Update: Apple stock heads for $US1000

Business update for Wednesday, 04 April 2012

Apple stock heads for $US1000
Dan Gallagher APPLE will be the world's first $US1 trillion company within two years, according to analysis that sent the stock to a new high.

US stocks slump on Fed minutes
Chris Dieterich US stocks fell from multi-year highs after the Fed offered no signals that monetary stimulus is on the way.

RBA flags interest rate cut
Scott Murdoch THE Reserve Bank has flagged it could deliver an interest rate cut before next month's federal budget.

Qantas man for Virgin loyalty unit
Steve Creedy VIRGIN Australia will set up its frequent-flyer program as a separate business unit as it ramps up the scheme's expansion.

Metcash axes shops and jobs
Blair Speedy GROCERY wholesaler Metcash plans to sack 478 staff and close 15 of its Campbells division's Cash & Carry outlets.

Intervene in 'overweight' super
James Frost SUPERANNUATION funds should face government intervention if they remain overweight in equities, according Lindsay Tanner.

Civil construction tipped to decline
Matt Chambers BIS Shrapnel expects the nation's civil construction spending to peak in four years as the heat comes out of a 15-year boom.

Watchdog brushes off dark pool fears
Richard Gluyas THE Australian stock exchange has again crossed swords with the corporate watchdog over regulating "dark" equities market.

Financial Markets

Dollar lower on Fed minutes
THE Australian dollar was lower after the US Federal Reserve indicated that it would not further stimulate the American economy.

Fed minutes drive gold down 2pc
Copper flat as QE3 hopes recede

Financial Markets Coverage

Mining & Energy

Chinese move on gold
Sarah-Jane Tasker CHINA largest goldminer launching a PEN798 million bid for Norton Gold Fields.

Aquila cashes up with key coal sale
Twiggy helps Poseidon to rise again

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