Tag #Australia

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smh.com.au

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May 14, 10:10

ASIC Sues Macquarie Bank for Alleged 14-Year Misreporting of Short Sales

ASIC is suing Macquarie Bank for allegedly misreporting the number of short sales traded over 14 years, following multiple regulatory actions in the past year; the potential fine could exceed $700 million.

ASIC Sues Macquarie Bank for Alleged 14-Year Misreporting of Short Sales

ASIC is suing Macquarie Bank for allegedly misreporting the number of short sales traded over 14 years, following multiple regulatory actions in the past year; the potential fine could exceed $700 million.

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What are the immediate consequences of ASIC's lawsuit against Macquarie Bank for alleged misreporting of short sales over 14 years?

ASIC, Australia's corporate regulator, has filed a lawsuit against Macquarie Bank, alleging a 14-year pattern of misreporting short sales. This follows multiple regulatory actions against the bank in the past year, indicating systemic compliance failures. The potential fine could exceed $700 million, significantly impacting Macquarie's reputation.

smh.com.au

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May 14, 13:15

ICAC Probes School Building Official for Corruption, Retaliatory Sackings

The NSW ICAC is investigating Anthony Manning, former head of School Infrastructure NSW, for allegedly awarding lucrative contracts to associates, misallocating funds, and retaliatorily sacking two senior officials, Andrea Patrick and Mattu Barr, who raised concerns about his procurement practices; ...

ICAC Probes School Building Official for Corruption, Retaliatory Sackings

The NSW ICAC is investigating Anthony Manning, former head of School Infrastructure NSW, for allegedly awarding lucrative contracts to associates, misallocating funds, and retaliatorily sacking two senior officials, Andrea Patrick and Mattu Barr, who raised concerns about his procurement practices; ...

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What specific actions by Anthony Manning are under investigation by the ICAC, and what are the immediate consequences of these actions for NSW taxpayers?

The NSW Independent Commission Against Corruption (ICAC) is investigating Anthony Manning, former head of School Infrastructure NSW, for alleged corrupt conduct including awarding high-paying contracts to associates and retaliatory sackings. Two senior officials, Andrea Patrick and Mattu Barr, who raised concerns about Manning's procurement practices, were subsequently dismissed. Spending on contractors under Manning's leadership surged to over \$344 million between 2017 and 2024.

smh.com.au

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May 14, 04:12

Australian Soldier Feared Dead in Ukraine

Caleb List, a 25-year-old Australian labourer, is feared killed in Ukraine's Kharkiv region while fighting with the foreign legion; this follows the death of another Australian volunteer, highlighting the risks for foreign nationals in the ongoing conflict.

Australian Soldier Feared Dead in Ukraine

Caleb List, a 25-year-old Australian labourer, is feared killed in Ukraine's Kharkiv region while fighting with the foreign legion; this follows the death of another Australian volunteer, highlighting the risks for foreign nationals in the ongoing conflict.

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Peace, Justice, and Strong Institutions

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What are the immediate consequences of Caleb List's presumed death in Ukraine for the Australian government and his family?

An Australian labourer, Caleb List, 25, who fought in Ukraine's foreign legion after being rejected by the Australian Defence Force, is feared dead. Military and diplomatic sources believe he died last month in the Kharkiv region, though his remains haven't been recovered. The Australian Department of Foreign Affairs and Trade is providing consular assistance to his family and several others with missing loved ones in Ukraine.

smh.com.au

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May 14, 01:10

Australian House Building Costs Hit Record High

The average cost to build a new house in Australia reached \$504,109 in March 2024, a 6.5 percent increase year-on-year and a 52.6 percent increase since March 2019, due to labor shortages and high material costs, challenging the government's 1.2 million new homes target.

Australian House Building Costs Hit Record High

The average cost to build a new house in Australia reached \$504,109 in March 2024, a 6.5 percent increase year-on-year and a 52.6 percent increase since March 2019, due to labor shortages and high material costs, challenging the government's 1.2 million new homes target.

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What are the long-term implications of the current high construction costs on the Australian housing market and the broader economy?

The combination of high labor and material costs, coupled with a shortage of skilled tradespeople, creates a significant challenge to Australia's housing market. This will likely lead to continued increases in house prices, impacting affordability and potentially slowing down the construction industry's output, making it hard to meet the national housing target. The rising costs also put pressure on builders who cannot always pass these costs on to their clients.

dailymail.co.uk

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May 14, 13:15

Suspended Sentence for Rohan Dennis After Wife's Death in Car Incident

Former Australian Olympian Rohan Dennis received a suspended sentence for a 2023 car incident that killed his wife, Melissa Hoskins, outside their Adelaide home after an argument about kitchen renovations; the judge determined he was not criminally responsible for her death.

Suspended Sentence for Rohan Dennis After Wife's Death in Car Incident

Former Australian Olympian Rohan Dennis received a suspended sentence for a 2023 car incident that killed his wife, Melissa Hoskins, outside their Adelaide home after an argument about kitchen renovations; the judge determined he was not criminally responsible for her death.

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What sentence did Rohan Dennis receive for the incident involving his wife, Melissa Hoskins, and what were the key factors in the judge's decision?

Rohan Dennis, a former world champion cyclist, received a suspended sentence after his wife, Melissa Hoskins, died in a car incident. The judge found Dennis not criminally responsible despite acknowledging he disregarded her safety. Dennis's driver's license was suspended for five years.

smh.com.au

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May 14, 01:10

CBA Reports $2.6 Billion Profit Amidst Global Economic Uncertainty

Commonwealth Bank of Australia (CBA) announced a $2.6 billion profit in the March quarter, a 6 percent increase year-on-year, despite rising loan arrears and global economic uncertainties; CEO Matt Comyn highlighted government investment and moderating inflation as key factors supporting Australia's...

CBA Reports $2.6 Billion Profit Amidst Global Economic Uncertainty

Commonwealth Bank of Australia (CBA) announced a $2.6 billion profit in the March quarter, a 6 percent increase year-on-year, despite rising loan arrears and global economic uncertainties; CEO Matt Comyn highlighted government investment and moderating inflation as key factors supporting Australia's...

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Decent Work and Economic Growth

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What is the overall impact of CBA's strong March quarter results on the perception of the Australian economy's resilience against global uncertainties?

Commonwealth Bank of Australia (CBA) reported a $2.6 billion profit in the March quarter, a 6 percent increase year-on-year. Despite a challenging economic climate, CEO Matt Comyn expressed confidence in Australia's ability to withstand global uncertainties. The bank is supporting customers facing financial pressures from high living costs.

smh.com.au

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May 14, 10:10

Roberts-Smith Defamation Appeal Verdict Due Friday

A Federal Court in Australia will decide on Friday whether to overturn a multimillion-dollar defamation ruling against Ben Roberts-Smith, a former soldier accused of involvement in the killings of four unarmed Afghan prisoners; the court will also rule on an application to reopen the appeal based on...

Roberts-Smith Defamation Appeal Verdict Due Friday

A Federal Court in Australia will decide on Friday whether to overturn a multimillion-dollar defamation ruling against Ben Roberts-Smith, a former soldier accused of involvement in the killings of four unarmed Afghan prisoners; the court will also rule on an application to reopen the appeal based on...

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Peace, Justice, and Strong Institutions

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How did the emergence of the secret recording impact the appeal process, and what are the specific arguments made by both sides regarding its relevance?

Roberts-Smith's appeal centers on arguments about the burden of proof and the adequacy of evidence presented by The Age and The Sydney Morning Herald. The newspapers' legal team countered that the circumstances surrounding the killings, while disputed, indicate unlawful acts. A key development is a secret recording of a journalist's conversation with a witness prior to their trial testimony, which Roberts-Smith argues warrants a retrial.

theguardian.com

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May 14, 10:10

NSW Police Face Lawsuit Over Unlawful Strip-Searches at Music Festivals

A NSW court heard that police conducted an unlawful strip-search on Raya Meredith at the 2018 Splendour in the Grass music festival; this is part of a class action lawsuit against NSW police for potentially thousands of unlawful strip-searches at music festivals between 2016 and 2022.

NSW Police Face Lawsuit Over Unlawful Strip-Searches at Music Festivals

A NSW court heard that police conducted an unlawful strip-search on Raya Meredith at the 2018 Splendour in the Grass music festival; this is part of a class action lawsuit against NSW police for potentially thousands of unlawful strip-searches at music festivals between 2016 and 2022.

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Gender Equality

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What specific evidence demonstrates the unlawful nature of the strip-search and the broader systemic issues within NSW police?

In July 2018, NSW police unlawfully strip-searched Raya Meredith at Splendour in the Grass music festival, finding nothing illegal. This was one of potentially thousands of unlawful searches conducted between 2016 and 2022, leading to a class-action lawsuit. The police's claim that the search was objectively necessary is deemed outrageous by the court.

theguardian.com

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May 14, 10:10

Australia's Net-Zero Commitment Under Review After Election

Australia's Climate Change Minister Chris Bowen criticized the Liberal party's post-election review of its net zero by 2050 commitment, warning of potential sovereign risk for investors, while the party's new leader Sussan Ley left the door open to abandoning the target despite 104 other countries h...

Australia's Net-Zero Commitment Under Review After Election

Australia's Climate Change Minister Chris Bowen criticized the Liberal party's post-election review of its net zero by 2050 commitment, warning of potential sovereign risk for investors, while the party's new leader Sussan Ley left the door open to abandoning the target despite 104 other countries h...

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Climate Action

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What are the immediate consequences of the Liberal party's review of its net zero by 2050 commitment?

Following Australia's recent election, the Liberal party's commitment to net zero emissions by 2050 is under review, prompting criticism from Climate Change Minister Chris Bowen who warned of potential sovereign risk for investors. The review includes the party's climate and energy policies, potentially jeopardizing Australia's international commitments and delaying climate action.

smh.com.au

🌐 85% Global Worthiness

May 14, 04:12

ASIC Sues Macquarie Group for Failing to Report Billions in Short Sales

Australia's corporate regulator, ASIC, launched a second legal action against Macquarie Group this week, alleging the $82 billion financial giant failed to report 73 million to 1.5 billion short sales between 2009 and 2024 due to systemic issues, highlighting potential widespread failures within the...

ASIC Sues Macquarie Group for Failing to Report Billions in Short Sales

Australia's corporate regulator, ASIC, launched a second legal action against Macquarie Group this week, alleging the $82 billion financial giant failed to report 73 million to 1.5 billion short sales between 2009 and 2024 due to systemic issues, highlighting potential widespread failures within the...

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What are the immediate consequences of ASIC's legal action against Macquarie Group for failing to report short sales?

Macquarie Group, an $82 billion financial giant, faces a second legal action from the Australian Securities and Investments Commission (ASIC) in a week. ASIC alleges Macquarie failed to report 73 million to 1.5 billion short sales over 15 years, constituting misleading conduct. This follows ASIC's imposition of additional conditions on Macquarie Bank's license last week.

theguardian.com

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May 14, 04:12

Erin Patterson Trial: Mushroom Expert Testimony Highlights Identification Challenges

Erin Patterson's trial for the deaths of three people after a lunch containing death cap mushrooms continues, with expert testimony emphasizing difficulties in mushroom identification and the importance of DNA testing for confirmation.

Erin Patterson Trial: Mushroom Expert Testimony Highlights Identification Challenges

Erin Patterson's trial for the deaths of three people after a lunch containing death cap mushrooms continues, with expert testimony emphasizing difficulties in mushroom identification and the importance of DNA testing for confirmation.

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Good Health and Well-being

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What implications could this trial have on public awareness and future prevention of similar incidents?

The case raises concerns about public mushroom identification capabilities. Dr. May's testimony underscores the complexities of visual identification and the need for robust confirmation methods such as spore prints and DNA testing to prevent future incidents of accidental or intentional mushroom poisoning. This case may lead to increased public awareness campaigns.

smh.com.au

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May 14, 01:10

Brisbane Power Outage Affects Nearly 2000 Homes

Nearly 2000 homes in West End, South Brisbane, and Highgate Hill experienced a power outage starting around 7:20 am, restored by 8 am; Energex found no specific cause, suggesting a possible external factor.

Brisbane Power Outage Affects Nearly 2000 Homes

Nearly 2000 homes in West End, South Brisbane, and Highgate Hill experienced a power outage starting around 7:20 am, restored by 8 am; Energex found no specific cause, suggesting a possible external factor.

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Affordable and Clean Energy

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What measures could be taken to improve the resilience of Brisbane's power grid and prevent future widespread outages?

This incident underscores the fragility of urban power grids and the potential for widespread disruption from seemingly minor events. Future investment in grid modernization and predictive maintenance could mitigate the risk of similar incidents and improve overall system reliability. Further investigation into the cause is crucial for implementing preventative measures.

Showing 433 to 444 of 2,529 results