FGC BOLSA - FGC FINANCIAL MARKETS INFO

Budget blowback bites Labor Business anger is growing at Labor's decision to axe the company tax cut. First off : Peak industry groups have criticised Labor for missing an opportunity to deliver on the tax reforms urged by former Treasury secretary Ken Henry ( The Australian ). There are predictions Wayne Swan's surplus could slip into deficit ( Fin Review ), while this analysis shows safe Labor seats and some of the poorest in the capital cities  will collect the bulk of Wayne Swan's surplus handouts ( The Australian ). Labor has also drawn fire for raising the debt ceiling ( The Australian ) ( Daily Tele ), but the government had a win as the Schoolkids Bonus passed the lower house ( The Australian ) ( SMH ). Please explain : Former Labor MP Craig Thomson will make a 15 minute explanation in response to the explosive Fair Work Australia report in the next sitting week ( The Australian ) ( Fin Review ). It has also been revealed the ALP has been pa

Thomson report overshadows surplus   Fair Work Australia's report on Craig Thomson and his former union has all but overshadowed Labor's federal budget surplus. First off : The report found Mr Thomson used his position as Health Services Union national secretary to splurge $500,000 on prostitutes, spousal travel and high living ( The Australian ). The full report is here . The FWA investigation found 156 legal and rule breaches by the MP, but Fair Work Australia will take action in the Federal Court and seek civil penalties instead of criminal charges ( Fin Review ). FWA official Terry Nassios estimated Mr Thomson spent more than $6000 of HSU funds on prostitutes and granted himself $103,338.70 in cash advances ( West Australian ). And Mr Thomson reportedly used almost $270,000 in unauthorised union funds to win the seat of Dobell for Labor ( Daily Tele ).  Mr Thomson maintains his innocence ( statement ). It is still budget day, however, which means