Macquarie Group says a $66 million bank tax bill might drive it offshore

Macquarie Group says a $66 million bank tax bill might drive it offshore

Updated July 27, 2017 22:41:13 Macquarie Group has lashed out at the Federal Government’s banking levy, and hinted it is potentially looking at moving offshore to avoid the new impost. Chairman Peter Warne told the group’s Annual General Meeting in Melbourne, Macquarie should not have been included with the big retail banks in being liable for the tax. “The new tax will have a disproportionately higher impact on Macquarie Bank compared to the major Australian banks given our business mix is more heavily weighted to wholesale and international business,” Mr…

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Coles boss blasts ‘expensive’ water

Coles boss blasts ‘expensive’ water

COLES boss John Durkan has lobbed another blow at Coca-Cola, heralding a potential cutback of its bottled water from supermarket shelves. Mr Durkan blasted the soft drink manufacturer, which depends the lucrative Mount Franklin range to bolster its bottom line as sales of sugar-laden products wane, for charging Australians more for their products than in overseas grocery markets. “This is frustrating to me because often the price differences relate to the same product made and sourced from the same place,” Mr Durkan said, vowing to keep investing in lower prices…

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Federal Court judge declines to taste disputed Heinz snack

Federal Court judge declines to taste disputed Heinz snack

A Federal Court judge has rejected a request for him to taste a kids’ snack food at the centre of a legal stoush over its nutritional value. The Australian Competition and Consumer Commission has taken food giant Heinz to court alleging the company engaged in false and misleading representations in relation to its Little Kids Shredz products. Play VideoDon’t Play Sydney toddler declared brain dead Play VideoDon’t Play Previous slideNext slide Heinz in court over Shredz snack Heinz in court over Shredz snack Food giant Heinz has faced the federal…

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NBN provider says it will work to end the broadband 'blame game'

NBN provider says it will work to end the broadband 'blame game'

Updated July 26, 2017 21:37:20 Photo: Clyde Juriansz shows NBN Co’s solution to a severed cable (ABC News: James Oaten) The company installing the NBN has declared the “blame game” with internet service providers is unacceptable and has vowed to do better, after 7.30 revealed a Melbourne resident endured more than two months without internet due to an easily identifiable fault. Melbourne resident Clyde Juriansz first noticed his NBN had dropped out on May 15. A technician arrived a few days after he called his telco, Optus, and the technician…

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Neither up nor down: No hike yet, says Reserve Bank governor Philip Lowe

Neither up nor down: No hike yet, says Reserve Bank governor Philip Lowe

Reserve Bank governor Philip Lowe has attempted to hose down talk of a hike in interest rates, saying Australia won’t be blindly following central banks overseas. “Some central banks are now starting to increase interest rates and others are considering when to withdraw some of the monetary stimulus that has been put in place,” he told a lunch in Sydney organised by Australian Business Economists. Play VideoDon’t Play Aldi confirms kitchen tap is safe Play VideoDon’t Play Previous slideNext slide No rate hike: RBA No rate hike: RBA Reserve Bank…

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