Malcolm Turnbull becomes new Prime Minister... ASIC says too few complaints over business lending to take legal action...
Malcolm Turnbull becomes new Prime Minister
Malcolm Turnbull has defeated Tony Abbott 54 votes to 44 in a leadership ballot last night, becoming the nation's 29th Prime Minister, the Sydney Morning Herald reports.
The former Minister for Communications is the fifth prime minister Australia has had in five years.
"We need to have in this country and we will have now, an economic vision, a leadership that explains the great challenges and opportunities that we face," Turnbull said.
"This will be a thoroughly Liberal government. It will be a thoroughly Liberal government committed to freedom, the individual and the market.
"It'll be focussed on ensuring that in the years ahead as the world becomes more and more competitive and greater opportunities arise, we are able to take advantage of that. The Australia of the future has to be a nation that is agile, that is innovative, that is creative."
Julie Bishop was re-endorsed as deputy 70 votes to 30 and the nation is yet to hear from Tony Abbott since the party room vote.
Reserve Bank governor signs off $15m donation
The Financial Markets Foundation for Children, chaired by Reserve Bank of Australia governor Glenn Stevens, yesterday gifted $5 million each to the University of Sydney and UNSW, an article in the Australian Financial Review reports.
The money will fund new chairs in child health; a chair of translational childhood medicine at the University of Sydney and a chair of paediatric population health at UNSW.
UNSW chancellor, ANZ chairman David Gonski said, "Investing early on in future generations ... was the most equitable way of improving future outcomes across whole populations of children.
"The financial markets are often seen as hard, not giving. That's changed," he said.
Too few complaints over business lending to take legal action
The Australian Securities and Investments Commission has responded to an inquiry investigating banks over business customer defaults that the "small" number of complaints don't justify taking legal action, according to the Sydney Morning Herald.
The corporate regulator revealed it had seen a total of 61 complaints about bank behaviour in commercial finance since mid-2010, and that "initial inquiries" into the complaints had not uncovered evidence of banks imposing unfair terms on customers.
Malcolm Turnbull has defeated Tony Abbott 54 votes to 44 in a leadership ballot last night, becoming the nation's 29th Prime Minister, the Sydney Morning Herald reports.
The former Minister for Communications is the fifth prime minister Australia has had in five years.
"We need to have in this country and we will have now, an economic vision, a leadership that explains the great challenges and opportunities that we face," Turnbull said.
"This will be a thoroughly Liberal government. It will be a thoroughly Liberal government committed to freedom, the individual and the market.
"It'll be focussed on ensuring that in the years ahead as the world becomes more and more competitive and greater opportunities arise, we are able to take advantage of that. The Australia of the future has to be a nation that is agile, that is innovative, that is creative."
Julie Bishop was re-endorsed as deputy 70 votes to 30 and the nation is yet to hear from Tony Abbott since the party room vote.
Reserve Bank governor signs off $15m donation
The Financial Markets Foundation for Children, chaired by Reserve Bank of Australia governor Glenn Stevens, yesterday gifted $5 million each to the University of Sydney and UNSW, an article in the Australian Financial Review reports.
The money will fund new chairs in child health; a chair of translational childhood medicine at the University of Sydney and a chair of paediatric population health at UNSW.
UNSW chancellor, ANZ chairman David Gonski said, "Investing early on in future generations ... was the most equitable way of improving future outcomes across whole populations of children.
"The financial markets are often seen as hard, not giving. That's changed," he said.
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Too few complaints over business lending to take legal action
The Australian Securities and Investments Commission has responded to an inquiry investigating banks over business customer defaults that the "small" number of complaints don't justify taking legal action, according to the Sydney Morning Herald.
The corporate regulator revealed it had seen a total of 61 complaints about bank behaviour in commercial finance since mid-2010, and that "initial inquiries" into the complaints had not uncovered evidence of banks imposing unfair terms on customers.
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Google, Virgin and Vodafone discuss how small businesses can thrive when they embrace technology
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