Business

NDIS funds to be ‘repurposed’ for drought relief under Morrison plan

Disability advocates have slammed Prime Minister Scott Morrison’s decision to “repurpose” $3.9 billion originally set aside for the NDIS to pay for drought relief, but the plan has been cautiously welcomed by… Dana McCauley The Sydney Morning Herald Mr Morrison unveiled his $5 billion Drought Future Fund at a summit attended by farmers, economists, industry bodies and state and federal ministers in Canberra on Friday, promising measures to drought-proof the… The first $3.9 billion of the scheme, which would operate ... Read More »

Why Wall Street’s tumble is bad news for Trump

US stock markets fell sharply Wednesday, erasing all gains for the year and muddying one of President Donald Trump’s favourite talking points two weeks before the midterm elections. Brisbane Times The Washington Post The technology-heavy Nasdaq fell 4.4 per cent Wednesday, its worst one-day drop since the financial crisis. The index has slid more than 12 per cent since the end of August. The Standard & Poor’s 500-stock index, which tracks a broader group of US companies, has lost $US2 ... Read More »

Cyber security a risk to small business project wins

Your company tries to secure project work from a corporate. The tender requires an explanation of your firm’s cyber security strategy and key staff involved in this area. Tony Featherstone The Sydney Morning Herald You narrowly lose the tender because a rival has better cyber security resources. Cyber security has suddenly become a bigger factor in whether your firm wins or loses jobs. Welcome to the world of cyber security and its impact on supply networks. Small and medium-size enterprises (SMEs) ... Read More »

Mario Draghi: I won’t mediate Italian budget standoff

The Italian chief of the ECB also says that ‘to finance governments’ deficits is not part of our mandate.’ By SILVIA SCIORILLI BORRELLI Politico The European Central Bank’s president, Mario Draghi, on Thursday passed the buck on resolving the Italian budget standoff to the European Commission. Speaking at a press conference on Thursday in Frankfurt after the ECB governing council monetary policy meeting, Draghi sought to clarify that he has no intention of serving as a “mediator” between Rome and ... Read More »

Making the right decision requires careful thought to eliminate bias

How do you make a decision? We are confronted by the bubbling cloud formations of looming decisions while trying to stay afloat in the rough seas of the consequences of decisions past. Jim Bright WAtoday Whether it is to brush our teeth before the shower or after, or living with the decision not to buy the sonic toothbrush, we can’t even make it to bathroom without being caught short by decisions. Some decisions become automatic after repeated practice, needing no ... Read More »

Mark Carney, eco-warrior

The Bank of England governor is pushing banks and investors to take climate change seriously. And they listen, whether they want to or not. By SILVIA SCIORILLI BORRELLI, KALINA OROSCHAKOFF AND CAT CONTIGUGLIA Politico LONDON — Mark Carney’s job is to guide the pound and the British economy through the Brexit storms. But the Bank of England chief is also building a legacy in another, unexpected field: climate change. From twin perches atop the British central bank and a global oversight body, Carney ... Read More »

China Expands Its Peace and Security Footprint in Africa

At the 2018 Forum on China-Africa Cooperation and China-Africa Defence and Security Forum, Beijing showcased an increasingly strategic approach to its defence relations with African countries and its role in managing challenges to peace and security on the continent. Michael Kovrig ICG China’s growing engagement with African countries got a publicity boost on 3-4 September with the latest Forum on China-Africa Cooperation (FOCAC). The triennial event brought leaders and officials from 53 African countries and the African Union (AU) to Beijing for ... Read More »

Cash Converters: Turning Your Misery Into Their Money… Until Maurice Blackburn Came Along

Australia’s largest ‘pay day loan’ company has caved on the first day of a class action lawsuit, coughing up a $16.4 million settlement to settle one part of a case brought by nearly 30,000 Queenslanders, some of whom were illegally charged interest rates that… Chris Graham New matilda The maximum annual interest chargeable under Queensland law is 48 per cent per annum. It’s the third time in as many years Maurice Blackburn Lawyers has led a class action against Cash ... Read More »

‘Rallying cry’: Mining giant BHP renews calls for carbon price

Mining giant BHP Billiton has renewed calls for a price on carbon to drive emissions reductions in Australia, despite the Morrison government rejecting the need to overhaul climate policies before the… Nick Toscano WAtoday As the Coalition faces the likely loss of the seat of Wentworth, where a voter backlash over climate change policy is considered to be a contributing factor, BHP on Monday… Fiona Wild, BHP’s head of sustainability and climate change, said Australia and the world must act ... Read More »

Should Australia be turning its rubbish into electricity?

Harry van Moorst is a veteran community activist. In the 1960s, he protested against the Vietnam War. In the ’70s and early ’80s, he was active in the anti-uranium movement. In the ’90s, he helped lead a… Jewel Topsfield The Sydney Morning Herald Van Moorst is exactly the sort of local warrior whom the proponents of a waste to energy plant feared could be a thorn in their side. But instead he is a cautious supporter of the proposed plant. ... Read More »

The Tourism Curse

Like a wealth of oil, lots of visitors can become a development trap. Here’s how to avoid it. Geert Vansintjan FP In a remote mountain town in Vietnam, I’m lost looking for the market. A young woman offers her help. As she walks me toward my destination, she tells me what she does for a living: She works under her mother, who runs the kitchen in one of the local hotels. I’ve run into her on her way to buy ... Read More »

The Trade War Has Claimed Its First Victim

Tariffs from the United States, Canada, China, Mexico, and the EU may have damaged the WTO beyond repair. Arvind Panagariya * FP The World Trade Organization (WTO) might be the first victim of the trade war between China, the United States, and the European Union. Today, each is in flagrant violation of its rules, and the institution’s credibility as the protector of a rules-based trading system is in serious doubt. U.S. President Donald Trump initiated the trade war in March when he ... Read More »

How Turkey and Saudi Arabia became frenemies – and why the Khashoggi case could change that

The Oct. 2 disappearance of Saudi Arabian journalist Jamal Khashoggi at his country’s consulate in Istanbul has put a spotlight on the deteriorating relations between Turkey and the Persian Gulf kingdom. Nader Habibi The Conversation Articles based on anonymous accounts from Turkish officials report that Turkey has video and audio proof that Saudi Arabian agents detained, murdered and dismembered Khashoggi, a sharp critic of his government who lived in Washington, D.C. Turkish President Recep Tayyip Erdogan raised the stakes even ... Read More »

‘Golden passports’ firm was consulted by government over investor visas

Henley & Partners among those consulted before rules were relaxed as ministers pursued global investment Hilary Osborne and Juliette Garside The Guardian Henley & Partners, the firm at the centre of the Caribbean passports controversy, was among a group of private-sector specialists consulted by the UK government ahead of changes to immigration rules that led to a… Theresa May’s Home Office redesigned its visa programme with a view to attracting rich foreign investors, after the coalition had entered government, as ministers ... Read More »

Turkey will continue drilling off Cyprus, says Turkish FM

Turkey will continue with drilling for gas off the Cyprus coast in the Eastern Mediterranean in order to ensure the “fair sharing of resources,” pro-government CNN Türk quoted Foreign Minister Mevlüt… Tiny Url Ahval Çavuşoğlu’s statement arrives amid an ongoing standoff over hydrocarbons rights in the eastern Mediterranean. “Turkey will not allow unilateral activities. We need to protect the rights of Turkish Cypriots with actual steps,” Cavusoglu told a university conference on law and politics in the Eastern Mediterranean. “We ... Read More »

Opinion: Why the Saudi business conference should be left to wither in the sun

Statements from Saudi Arabia to respond to any Western sanctions imposed over the Khashoggi case with even greater actions are a veiled threat of monstrous proportions and demand a stern reaction, says DW’s Kevin Cote. Sunday’s statement from the Saudi Foreign Ministry cited the kingdom’s “influential and vital role in the global economy.” That role is scheduled to be underscored at a conference called the Future Investment Initiative (FII) starting on October 23 in Riyadh. The conference should be boycotted by ... Read More »