Squiz Today / 22 May 2018
Squiz Today – Tuesday, 22 May
Not even Telstra’s outage page survived its nationwide network failure yesterday. “I choose to be with @Telstra so every month or so I get an hour of peace and quiet when my service goes down,” tweeted a glass-half-full kinda guy. But investors weren't as zen with Telstra shares falling to a seven-year low.
CRANKY IN CANBERRA
No, it’s not the disappointing sequel to Sleepless in Seattle… With the House of Reps back in session and senators in town for hearings with government departments, you’d think Canberra would be buzzing. But instead, some Coalition members got the grumps yesterday. And Labor and One Nation were also all over it like a royal wedding guest on a pair of slippers.
OK LET’S GO…
One Nation has (again) pulled its support for the Turnbull Government’s plan to cut company tax rates. Leader Pauline Hanson has told The Australian (paywall) she doesn’t think Team Turnbull have done a good enough sales job. The move makes it seemingly impossible for the government to get its plan to drop the company tax rate from 30% to 25% through the Parliament unless other senators shift their position to support it. And while you never say never, that’s looking unlikely. So expect the next year to be dominated by the duelling tax plans of the major parties.
AND WHAT ELSE HAS GOT THEIR GOAT?
• AGL yesterday confirmed it’s not interested in Alinta’s offer to buy the ageing coal-fired Liddell power plant. Cue disappointment from Energy Minister Josh Frydenberg and calls from former PM Tony Abbott to nationalise the plant.
• Former Cabinet minister/recent live sheep export critic Sussan Ley yesterday broke with the Coalition party line and introduced legislation to ban the trade.
• And News Corp reports (paywall) this morning that Labor frontbenchers Penny Wong, Chris Bowen and Jenny Macklin allegedly clashed with Treasury’s security people on Budget day.
There must be something in the water…
CHANGING ATTITUDES ON MEN TAKING PARENTAL LEAVE
PRESENTED BY COMMONWEALTH BANK
Parental leave for men - the Commonwealth Bank has done a survey to see what blokes think. The good news is 94% think it's more acceptable for them to take leave to care for their new bub than it was five years ago. But there's room for improvement with 42% saying they would be hesitant to take it up because it could impact their careers.
At the Commonwealth Bank, they're working to create an environment where anyone who becomes a parent can transition into managing their work and family responsibilities.
SQUIZ THE REST
MORE WANT TO CALL AUSTRALIA HOME THAN EXPECTED
Immigration officials confirmed yesterday that more than 250 athletes, officials and media have not returned home after their Commonwealth Games visas ran out last week. Almost 200 of those have applied for refugee status while another 50-odd are AWOL. The Department says it’s assisting those who have applied to stay but those who have overstayed with no new visa arrangement in place made must leave.
US OUTLINES IRAN APPROACH
US Secretary of State Mike Pompeo has announced America’s approach to Iran in the wake of pulling out of the multi-nation deal to curb its development of nuclear weapons. He says they are reintroducing harsh sanctions and will focus on ensuring Iran is unable to become a dominating force in the Middle East. But a change of behaviour by Iran would see the US tone down its hardline approach, he said. Iran has previously promised retaliation for the sort of things Pompeo has outlined.
And while we have you… Former US President Barack Obama and wife Michelle have made a deal with Netflix. Their content will focus on storytelling to forge "understanding between peoples". Maybe they could play out their alter-egos via a new season of House of Cards?
CLOUD HANGS OVER VENEZUALAN ELECTION
Venezuela held its presidential elections on Sunday, and while President Nicolás Maduro is claiming the win, low voter turn-out, a boycott by opposition parties and allegations of vote-rigging have made the exercise a sham in the eyes of observers. The country is in the middle of an economic and social crisis and many believed Maduro would claim the win no matter what. All eyes are now on the US and their response.
A GOOD INVESTMENT THESE DAYS IS HARD TO FIND
The Consumer Commission has revealed that risk-takers are more into money than love. "Until recently, it's usually been dating and romance scams that have had the highest losses but they have been overtaken by investment scams in the last year,” said the ACCC’s Delia Rickard. She puts it down to investors finding it hard to make a buck in our low interest/low inflation economic environment. In total, investment scams cost Australian consumers $64 million in 2017.
ONE MORE TIME…
The official royal wedding photos have been released.
SQUIZ THE DAY
ABS Data Releases - Producer Price Indexes, March 2018; Research and Experimental Development, 2016
Liberal Party candidate for the Longman by-election expected to be decided today
Winner of the Man Booker International Prize to be announced
First anniversary of the Manchester Arena bombing
Anniversary of the birthday of Arthur Conan Doyle, the Scottish writer best known for his creation of Sherlock Holmes
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