Bank rate rises add $2.5 billion to profits
Banks will add close to $2.5 billion in profit with combined rates rises since May, according to some analysts.Photo: James DaviesBanks are estimated to have added about $2.5 billion to their bottom lines, with interest rate rises in July and October-November after the Reserve Bank of Australia cut to the cash rate to 2 per cent.Regional banks are likely to be the biggest beneficiaries, not so much because they won't be subject to the same capital imposts on mortgages as the majors, but because mortgages are bigger contributors to their earnings.Bank of Queensland looks to have added the most to its cash earnings for 2016. According to Deutsche Bank, Morgan Stanley and JPMorgan analysts, its..>> view originalThe Royal Aussie Scrapbook
His visit to Bendigo was marred by a devastating fireworks accident. Three boys burned to death after they climbed on top of the centrepiece of a pyrotechnics ...>> view originalGun-toting anti-Muslim 'crusader' at lead of United Patriots Front
Video will begin in5seconds.Chris Shortis: where guns meet GodBrandishing automatic rifles and thanking God, here's a flavour of anti-Muslim activist Chris Shortis' YouTube rants about papal tyranny, the UN and his right to bear arms.PT1M38S620349A central figure in the anti-Islam street movement the United Patriots Front is a self-described "biblical crusader" with a long history of posting videos to social media in which he poses with semi-automatic weapons and threatens to take up arms against the Government and Muslims.Chris Shortis, from Victoria, is one of three spokespeople in the United Patriots Front's leadership team, and has spoken at recent rallies in Bendigo, Richmond, and CBD.B..>> view originalAsh cloud continues to delay Bali travel
Ash cloud continues to delay Bali travelJetstar plans to make two 'recovery flights' on Saturday.Airlines are continuing to monitor the impact of an ash cloud on flights in and out of Bali.Jetstar says it plans to operate several flights during the daylight hours of Saturday, resulting in changes to the timing of some flights and cancellation of others.Two recovery flights - one each to Melbourne and Perth - will also operate on Saturday, Jetstar said in a statement late on Friday.But Virgin says it is still unsafe to fly because of wind conditions and continued eruptions from Mt Rinjani on the island of Lombok.AdvertisementThe airline has cancelled six flights on Saturday and says a further..>> view originalCarbon tax more affordable than GST hike to raise same revenue, say Greens
Related:Raising GST to 15% 'will cost poorest families 7% of disposable income'TheAustralian Greenssay a carbon tax would raise as much revenue as increasing the GST rate or broadening its base, while also reducing pollution.Greens MP Adam Bandt has said a Parliamentary Library analysis found that raising the GST rate to 12.5% would raise a similar amount to a $28/tonne carbon tax, but would cost households three times as much.Extending the GST to fresh food, education and healthcare would also raise a similar amount to the original carbon tax, yet households would pay four times as much, Bandt said.Speaking on ABC 24 on Sunday, the leader of the Greens, Richard Di Natale said his party had ..>> view originalChina, Japan face off in new Asian infrastructure race
In Photo: Workers lay concrete on a road as traffic stands congested in Manila. President Aquino is set to decide this month on whether to approve seven projects worth P170 billion, including an upgrade to Manila's airport, a road connecting two ...>> view originalNo more 'gotcha' politics: Morrison
As the debate over tax reform rumbles on, Treasurer Scott Morrison says the Turnbull government has moved on from eight years of "rule-in, rule-out, gotcha politics"."All of that sort of thing basically euthanised public policy debate in this country," Mr Morrison told Sky News on Sunday.Instead the government is sticking to the line that everything remains on the table.Much of the debate has centred on the GST, and raising the rate and/or widening the base.But while the treasurer isn't confirming anything, he says Australians won't cop changes to the tax system that just end up giving the states a "bucket of money" to spend.That is why the government is linking the response to the Harper re..>> view originalThe Fat Jew's publisher threatened to sue us for linking to his stolen book
On Thursday, the Twitter account@updog7scannedevery single page of Josh “The Fat Jew” Ostrovsky’s new book,Money Pizza Respect,and tweeted the whole thing. It also published a copy of the book in PDF format on Google Drive. Since Ostrovskybuilt his entire career on plagiarism, it was a moment of beautiful internet karma.On Friday, the plot thickened.Death and Taxesreceived an email from a lawyer representing Ostrovsky’s publisher, threatening to take legal action unless we removed the links to the copy of his crappy book.Gawkeralso got an email. Apparently, Ostrovsky doesn’t like it when people stealhisstuff.Considering the number of sites that covered the story (The Onion’sAV Club,NY Mag,Fu..>> view originalHow falling house prices could end up making us rich
This 3 bedroom house at 17 Walkom Ave, Forestville, NSW recently sold at auction for $1.67 million. That’s nearly double the $825,000 it sold for in 2012. Which could be why housing, rather than business, has been such a popular investment over the past decade.MY MATE is a brilliant engineer. He’s got a good job but he wants to get rich. The other night as we stood round at a barbecue, he was telling me about his plan to buy another house — or maybe a flat — in the suburb he lives in.I smiled and said ‘awesome!’ But later I kept wondering about his choice. It makes me worry about this country.In another kind of Australia, an engineer wouldn’t aim to get rich by owning property. He’d be inves..>> view original
Saturday, November 7, 2015
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