Top Stories

  • We never said we would increase GST: PM AAP - 39 minutes ago

    Malcolm Turnbull insists no decision has been made to increase the GST and he is not convinced it's the way to go anyway. The prime minister says people may think such a decision had been made because of Opposition Leader Bill Shorten's scare campaign "through the green grocery aisles of Australia". "We had not," he told ABC Television on Sunday.

  • Liberals at war with selves on GST: Bowen AAP - 43 minutes ago
    Liberals at war with selves on GST: Bowen

    Shadow treasurer Chris Bowen says the Liberal Party is at war with itself over a possible increase to the GST. Prime Minister Malcolm Turnbull says he's yet to be convinced that raising the GST rate to 15 per cent is the way to deliver tax reform, but Mr Bowen insists that such an increase is in the DNA of the Liberal party. "We know that's what Malcolm Turnbull and (Treasurer) Scott Morrison really want to do.

  • Turnbull remains unconvinced by GST move AAP - 2 hours 53 minutes ago
    Turnbull remains unconvinced by GST move

    Malcolm Turnbull remains unconvinced that an increase in the GST is the way to go in the government's tax reform package. The prime minister says an increase in the GST from 10 per cent to 15 per cent would raise just over $30 billion, which would be used to compensate people on low income and welfare while reducing personal income tax. "So you've got the negative of the GST increase versus the positive of cutting personal income tax," Mr Turnbull told ABC television on Sunday.

  • Earnings season cranks up for Aus market AAP - 3 hours ago
    Earnings season cranks up for Aus market

    Earnings reports from big-name companies will likely shape the Australian share market this week as Chinese New Year sidelines Asian markets. The local market closed slightly lower on Friday as gains by the big miners failed to fully offset weakness in financial and retail stocks. The tired finish to the Australian market's week preceded plunging technology shares in the US after poor results from data company Tableau Software and networking platform LinkedIn and a tepid US jobs report.

  • Cabinet to have final say on tax reform:PM AAP - 5 hours ago
    Cabinet to have final say on tax reform:PM

    Prime Minister Malcolm Turnbull says he's yet to be persuaded that increasing the GST should be part of the tax reform package. He says he's not convinced it would stimulate jobs and growth and unless ...

  • We gave rolled-gold GST promise: senator AAP - 7 hours ago

    Senator Ian Macdonald says he is one of the few members of parliament who was around when the 10 per cent GST was introduced in 2000. Prime Minister Malcolm Turnbull last week appeared to cast doubt that his government would go ahead with a change in the GST as part of its tax reform package. Cabinet Secretary Arthur Sinodinos is saying "nothing is inevitable".

  • Air Berlin pilots agree to 2016 pay cuts AAP - 8 hours ago

    Managers and pilots of Air Berlin have agreed to pay cuts as the struggling German airline tries to rein in costs with a new restructuring program. About 80 managers will see their remuneration slashed by between 5 and 10 per cent this year, and the pilots will also make a contribution to the latest cost cutting effort, a spokesman said.

  • France's Cahors wine is new frontier for Argentina, China AFP - 10 hours ago
    France's Cahors wine is new frontier for Argentina, China

    France's southwestern Cahors region is a new frontier for foreign investors, from Argentine winegrowers doing the "Malbec tango" to potential investor "ambassadors" from China. Cahors is the new go-to destination for foreign investors as wine-growing land is becoming scarce -- and therefore exorbitantly expensive -- in other French regions. "You can't afford anything in Bordeaux or the Rhone or even in the Loire anymore," says Chilean specialist Pedro Parra, who works for Argentine wine firm Altos Las Hormigas.

  • Economy, security woes dent popularity of Canada's Trudeau AFP - 10 hours ago
    Economy, security woes dent popularity of Canada's Trudeau

    One hundred days after Justin Trudeau's Liberal government was sworn in, the still-popular Canadian prime minister faces mounting criticism, against the backdrop of a floundering economy and terror fears. The 44-year-old Trudeau -- a former schoolteacher and the son of a popular prime minister -- immediately saw his international profile rise upon taking office on November 4, and he still enjoys strong support at home. "Canada is back!" the youthful-looking prime minister with a broad smile, a twinkle in his eye and a thick mop of curls told world leaders at summits, looking to recast the image of the world's fifth-largest oil producer from climate laggard to environmental champion.

  • Oil sales from Iran exceed 300k barrels AAP - 20 hours ago
    Oil sales from Iran exceed 300k barrels

    Iranian Oil Minister Bijan Zanganeh says Iran's crude oil sales to Europe after the lifting of international sanctions on Tehran have already reached above 300,000 barrels, according to the ministry's news agency. Iran's oil exports, which had peaked at more than three million barrels per day (bpd) in 2011, fell to a little more than one million bpd after tougher sanctions were imposed in 2012 because of its nuclear program. After the rubber-stamping of the nuclear deal with world powers last year, however, Tehran has ordered a 500,000 bpd increase in oil output.

  • Obama claims victory after employment rise AAP - 22 hours ago
    Obama claims victory after employment rise

    President Barack Obama says Americans should feel good about the economy after the latest jobs report showed the US unemployment rate at an eight-year low of 4.9 per cent. Obama, in his eighth and final year in office, on Friday made a relatively rare and unexpected appearance in the White House briefing room to talk about how the economy had recovered under his watch. "We have recovered from the worst economic crisis since the 1930s, the worst in my lifetime and the lifetime of most of the people in this room," Obama said, noting the unemployment rate was 10 per cent in 2009, when he took office.

  • Ten companies control politics: Dastyari AAP - Sat, Feb 6, 2016 4:46 PM AEDT
    Ten companies control politics: Dastyari

    Labor senator Sam Dastyari has hit out at ten top Australian companies, accusing them of hijacking democratic debate with their interests and agendas. In a speech to a politics in the pub event in Canberra ...

  • Greek farmer blockades pile pressure on government AFP - Sat, Feb 6, 2016 1:52 PM AEDT
    Greek farmer blockades pile pressure on government

    Greek farmers protesting against pension reforms heightened highway and border protests around the country on Saturday, piling pressure on the leftist government of Prime Minister Alexis Tsipras. Farmers in Thessaly began a one-day blockade of the main highway between Athens and Thessaloniki despite compromise efforts by the government. The mobilisation which began in mid-January has created tractor blockades at dozens of highway locations and key border crossings to Bulgaria and Turkey, which the farmers intermittently open for a few hours each day.

  • Portugal boosts govt's TAP airline stake to 50% AFP - Sat, Feb 6, 2016 12:28 PM AEDT
    Portugal boosts govt's TAP airline stake to 50%

    Portugal's new Socialist government said Saturday it had boosted its stake in national airline TAP to 50 percent from 39 percent in line with an election pledge of re-nationalisation. Prime Minister Antonio Costa made the announcement, saying Lisbon will pay 1.9 million euros ($2.1 million) to take 11 percent from the 61 percent stake sold late last year to a private consortium. The outgoing conservative administration made the sale to the consortium headed by US-Brazilian businessman David Neeleman, founder of Brazilian carrier Azul, and Portuguese associate Humberto Pedrosa.

  • Obama seeks to double US funds for clean energy research AFP - Sat, Feb 6, 2016 12:10 PM AEDT
    Obama seeks to double US funds for clean energy research

    President Barack Obama on Saturday proposed doubling US funding over the next five years for clean energy research and development, as part of his ongoing effort to tackle climate change. The president next week sends to Congress the final spending blueprint of his presidency -- a guidepost to his policy priorities -- including proposals in the coming fiscal year to raise taxes and boost spending. "One of the greatest challenges of our time is climate change," the US leader said.

  • LinkedIn shares plunge almost 44% in US AAP - Sat, Feb 6, 2016 11:52 AM AEDT
    LinkedIn shares plunge almost 44% in US

    Investors have given LinkedIn a poor job review in the form of a dramatic sell-off that wiped out nearly $US10 billion ($A13.92 billion) in the professional networking service's market value after it issued ...

  • Tas cleans up at national tourism awards AAP - Sat, Feb 6, 2016 10:48 AM AEDT
    Tas cleans up at national tourism awards

    Apple Isle tourism operators have won more medals at the national tourism awards than any other state in the country. Tasmanian operators claimed seven golds, nine silvers and three bronzes at the Qantas ...

  • Three missing after SAfrica mine collapse AAP - Sat, Feb 6, 2016 10:26 AM AEDT
    Three missing after SAfrica mine collapse

    Almost 90 miners have been rescued and three other workers are missing after a cave-in at a gold mine in the northeast of South Africa, mine owner Vantage Goldfields says. The collapse at the mine's main entrance on Friday trapped 87 workers underground, all of whom were rescued, the small, Australia-based gold producer said in a statement, but three others who had been working on the surface at the time could not be accounted for. Work at the mine was suspended pending investigation on what caused the collapse, Vantage said.

  • Twitter 'suspends 125,000 terror accounts' AAP - Sat, Feb 6, 2016 9:57 AM AEDT
    Twitter 'suspends 125,000 terror accounts'

    Twitter Inc says it has shut down more than 125,000 terrorism-related accounts since the middle of 2015, most of them linked to the Islamic State group in Iraq and Syria. Twitter has said it takes down accounts only when they are reported by other users, but the company said in a blog post on Friday it had increased the size of teams monitoring and responding to reports and had decreased its response time "significantly". When accounts are reported, Twitter said it looked at ones that were similar and used spam-fighting tools to identify other violent accounts, which it said had resulted in more suspensions.

  • Sri Lanka requests IMF bailout to tackle budget deficit AFP - Sat, Feb 6, 2016 9:01 AM AEDT
    Sri Lanka requests IMF bailout to tackle budget deficit

    Sri Lanka has made a formal request for an IMF bailout package to aid its struggling economy after a sharp slowdown in growth and with its budget deficit widening, officials said Saturday. The International Monetary Fund confirmed the island nation had asked for assistance, but did not give details on the value of a potential programme or say whether it would grant the request. "The IMF has received a request for a program with Sri Lanka," the fund said in a statement from its headquarters in Washington DC.

  • Super Bowl 50 commercials aim to leave us laughing AFP - Sat, Feb 6, 2016 3:30 AM AEDT
    Super Bowl 50 commercials aim to leave us laughing

    Comedy is the dominant theme for Sunday's Super Bowl television commercials, with celebrities and cute animals trying to make record-setting American audiences laugh while bombarding them with advertising pitches. "From the beginning of the creative process, we tried to find something simple, visual, and fun," said Anselmo Ramos, founder of ad agency DAVID Miami, who made the "Weiner Stampede" hot dog commercial for Heinz condiments. NFL championship spectacles such as Super Bowl 50 are the rare moments when Americans come together as a nation, with a record 114.4 million US viewers tuned in last year -- the sixth record in seven years set by a Super Bowl.

  • Argentina in 'breakthrough' offer to creditors AFP - Sat, Feb 6, 2016 1:06 AM AEDT
    Argentina in 'breakthrough' offer to creditors

    Argentina's new government has offered $6.5 billion to settle its long debt battle with "holdout" creditors, the government and a US mediator said Friday, declaring a breakthrough to the impasse. The dispute and the US court case around it has roiled global sovereign debt markets while deeply hampering Argentina's ability to access international capital to fund its economy. The offer was made in New York talks with hedge funds and other creditors who had demanded full repayment of about $9 billion on bonds the country defaulted on 15 years ago.

  • Argentina offers $6.5 bn to 'holdout' creditors AFP - Sat, Feb 6, 2016 12:23 AM AEDT
    Argentina offers $6.5 bn to 'holdout' creditors

    Argentina's new government has offered $6.5 billion to settle its long debt battle with "holdout" creditors, the government and US mediator Daniel Pollack said Friday. Two of six major holdout creditors have accepted the deal, which includes about a 25 percent "haircut" on their claim, while four have not done so yet, according to the government. The offer was made in New York talks with hedge funds and other creditors who have demanded full repayment of about $9 billion on bonds the country defaulted on 15 years ago.

  • US jobs data spurs selloff amid Fed rate hike fears AFP - Sat, Feb 6, 2016 12:23 AM AEDT
    US jobs data spurs selloff amid Fed rate hike fears

    A sharp selloff in New York led by the major tech stocks capped a day of losses on major global markets Friday. US jobs data for last month, showing a fall in the unemployment rate to 4.9 percent and a gain in wages growth, sparked new worries that the Federal Reserve could decide to raise rates again as soon as March. Amazon, Netflix, Adobe, Priceline, Twitter and Facebook all shed more than five percent to pull the Nasdaq Composite Index back to levels last seen in October 2014.

  • Argentina offers $6.5 bn to 'holdout' creditors: mediator AFP - Fri, Feb 5, 2016 11:32 PM AEDT
    Argentina offers $6.5 bn to 'holdout' creditors: mediator

    Argentina's new government has offered $6.5 billion to settle its long debt battle with "holdout" creditors, US mediator Daniel Pollack said Friday. The offer was made in New York talks with ...