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Showing posts with the label FINANCIAL AND FOREX INFO NEWS: The Australian Capital Circle

The Australian Capital Circle: Talk turns to jobs after tax summit:

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Talk turns to jobs after tax summit Labor switches its focus from tax to jobs today, with a one-day summit in Parliament House. Julia Gillard is in Canberra for the jobs forum today. She's speaking to Radio National just after 8am, but that aside it's all about jobs for the PM today. Tony Abbott will spend his day in and around Bendigo, in country Victoria. First up, Mr Abbott will visit the Elmore Field Days agricultural fair, an event first held in 1964. For those who don't know, field days are farming trade shows. This year's field day will showcase composting, an agribusiness pavilion and feature paddock demonstrations. After two days of tax, the federal government is talking jobs today. About 100 representatives from business, unions, government and academia will gather for the summit, which has a particular focus on manufacturing. Peter Shergold , who ran the Department of Prime Minister and Cabinet for John Howard , will lead the talks. Th

Poised to lead, poised to concede | FINANCIAL AND FOREX INFO NEWS | The Australian Capital Circle

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FINANCIAL & FOREX INFO NEWS Poised to lead, poised to concede The broader implications of Ted Baillieu's victory in the Victorian state election are only now becoming clear . First off: TED Baillieu is set to become Victoria's 46th premier after the Coalition pulled ahead in the crucial marginal seat of Bentleigh last night. This all but guaranteed victory against John Brumby and his 11-year-old Labor government. While the Coalition would not declare victory last night and Mr Brumby refused to concede defeat, it seemed almost impossible for Labor to retain government, with the Liberals poised to win a 45th seat last night, Milanda Rout and Matthew Franklin report . Mr Baillieu will convene a special meeting of his shadow cabinet this morning to prepare to take office, after the savage anti-Labor swing in Saturday's election, Paul Austin reports . John Brumby, meanwhile, blames wear and tear . Ready to lead : "The Coalition has won t

Our near-defeat cut very deep | F & F I N | The Australian Capital Circle

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FINANCIAL & FOREX INFO NEWS   Our near-defeat cut very deep   Wayne Swan hits out at the Greens while Kevin Rudd shares the blame. First look: KEVIN Rudd used his speech to colleagues on the day he was dumped as prime minister to acknowledge mistakes in three key policy areas. He admitted errors in climate change, the mining tax and, for the first time, the Building the Education Revolution program...The minutes, obtained by The Australian yesterday, confirm that Mr Rudd stressed his controversial proposal to create a 40 per cent tax on mining company profits was a joint decision by himself, Ms Gillard, Wayne Swan and then finance minister Lindsay Tanner.(more from Matthew Franklin ). Top talker: Wayne Swan has called for more idealism in the ALP.   In an opinion piece published today , the Treasurer writes: "Through debate and evolution we have remained the party of hope for each generation, fending off communists, the Democratic Labor

Banks war continues on foreign soil:The Australian Capital Circle | Financial & Forex Info News

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FINANCIAL & FOREX INFO NEWS Banks war continues on foreign soil   Julia Gillard and Wayne Swan have been working the diplomatic circuit in Seoul. But they have been less than diplomatic with the banks. Phillip Coorey reports the PM has accused the big banks of threatening Australia's economic recovery by fleecing customers with large interest rate increases. In a speech in Seoul yesterday to a forum of 120 global business leaders, including the chief executive of ANZ, Mike Smith, the Prime Minister said the latest increases by the Commonwealth Bank and ANZ were damaging consumer confidence and, therefore, economic recovery. With the leaders of the world's 20 foremost developed and developing nations in Seoul to discuss the global recovery, Ms Gillard told the forum that Australia's economy had weathered the global financial crisis better than most. Growth was a ''strong'' 3.3 per cent, more than 375,000 jobs had been cr

F & F I N : The Australian Capital Circle: Frau Gillard promises to take on the banks.

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FINANCIAL & FOREX INFO NEWS Frau Gillard promises to take on the banks   Julia Gillard and Wayne Swan are in Seoul for the G20, but domestic issues are still pressing. Top of the agenda for the PM is trade agreement between South Korea and Australia. The path to this agreement has been cleared by the United States and South Korea signing off on their agreement, as Dennis Shanahan reports from Seoul. Also travelling with the PM, Shane Wright reports that a war of words has broken out at the conference, with countries including Germany and China arguing that the US was undermining the global economy. "The rise of the Australian dollar in recent weeks, largely driven by the weakness of its American counterpart, is creating havoc for the nation's exporters and importers. Australia's currency troubles are the collateral damage of a growing battle between countries that have tried to depreciate their currencies to make their exports cheaper. M

F & F I N : Julia Gillard is on her way to Seoul, leaving behind the debate about surplus and economic strength | The Australian Capital Circle

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FINANCIAL AND FOREX INFO NEWS   Gillard flies out as Penny takes centre stage   Julia Gillard is on her way to Seoul, leaving behind the debate about surplus and economic strength. The PM will attend her first G20 meeting as PM, but first she will hold bilateral meetings the South Korean President, Lee Myung-Bak. Ms Gillard will have her Deputy and Treasurer Wayne Swan, putting Finance Minister Penny Wong on the spot a day after the MYEFO numbers were released. In fact, Capital Circle hears that Senator Wong has 11 interviews booked today. Surely we should be paying her more? Peter Van Onselen is full of praise for Penny today: "Wong is nothing if not a pedant for detail and precision. She will be prepared to make the sort of cuts Lindsay Tanner never did. And she won't face the personality struggle when doing so that her predecessor did in terms of her relationship with Treasurer Wayne Swan.'' BREAKING: NSW Transport Minister John

FINANCIAL AND FOREX INFO NEWS: The Australian Capital Circle.- Gillard lashes banks as Hockey crows

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FINANCIAL AND FOREX INFO NEWS FROM:   Gillard lashes banks as Hockey crows   Joe Hockey's call to get tough on banks has paid off in spades. Julia Gillard has hit out at the major banks on morning television, saying there is really no justification for rate rises above that mandated by the Reserve Bank. The PM said she is angry with the big four banks and has urged people to vote with their feet and change banks if they aren't happy. Anger with the banks is palpable and is driving the day across the country. Opposition Treasury spokesman Joe Hockey - the man who began the push for tougher regulation on banks -  writes for the Punch this morning . "Two weeks ago I decided to take a public stand on behalf of ordinary Australians. Home buyers, consumers and small business are sick and tired of being taken for a ride by the banks, who time and time again increase their interest rates above and beyond the official movements of the Reserve Bank.