DEAL TO COMBAT PIRACY NEARS FOR AUSTRALIA
According to the Federal Attorney general, curbing online piracy involves the copy right owners, the internet providers and customer advocates. Internet users who are found to make copies of movies and music will be given warnings failure to which they will be sanctioned and even disconnected from internet services. ISPs have been adamant in taking part in this process, former Attorney general Robert McClelland instructed the secretary Roger Wilkins to address the issue secretly through negotiations. The secretary opted for an industry-based solution. He agreed to go for other options like legislation incase the industry failed to comply. The talks proposing internet providers as liable have delayed thus Attorney general’s department went ahead to initiate the industry-based program. The response was positive and discussions are ongoing to determine whether to warn or educate the abusers. The subject on costs is being negotiated and it is expected that the ISPs will cover these costs (Colley, 2012).
INFRASTRUCTURE CRITICAL TO EXPORTS: REPORT
The Australian government report indicates that containing costs and building infrastructure could see Australia shipping double its lucrative commodities by 2025. This includes iron ore and coal exports. The bureau of resources forecasted that the 493 million tonnes of iron ore produced annually would grow up to 1.08 billion tonnes while coking coal grow from 157 million tonnes to 306 million tonnes. This will be achieved through an improved infrastructure as noted by BREE and Resources minister Martin Ferguson. Ferguson further noted that the available infrastructure supports the country up to 2017, therefore more infrastructures is essential. He further commented that labor cost should be contained to Cater for the curren5t generation as well. From the world economy’s approach, long term growth comes with the fall in commodity prices as projected by BREE. The Reserve bank reported that the fall on commodity prices by 1.7 per cent to 9.9 percent is attributed to reduced prices for Iron and Coal (Yeates, 2012).
DOUBTS ON EURO QUICK FIX: DANGER ZONE
Recurrence of the European debt crises consequences like civil war will only be avoided if German leaders agree to entangle the Eurozone nations’ fortunes. According to research, the effects of this may be global. However, it is expected that share markets, especially in the US may be restored if the issue is addressed successfully by European leaders. Angela Merkel, the European Chancellor will have no option but give in to measures that unite Euro nations before the year ends. The awful effects of a broken Euro currency will be felt economically, socially and politically. This will see the fall of Eurozone which is likely to go down with the German economy. The head of research Bell Potter Securities Peter Quinton, said that the bail out package needs to be tripled for Eurozone to be stable. This is necessary as hinted by the fact that the US share prices are going up (Whalley, 2012).
BLACKWOOD HALT RAISES QUERRIES ON TINKLER DEAL
Blackwood Corp, a listed coal explorer may be required to give an explanation for the 5.30 billion dollar privatization bid for Whitehaven coal. The information provided is inadequate to explain the allocation of 28.4 million dollars meant to fund a drilling campaign. Whitehaven Coal received 5.2 million dollars from the Tinkler group; it included support from the share holders. This was not enough and Tinkler sought a further 17 % from White haven or else he would be forced to raise further equity and buy them out. Tinkler privatization is likely to fail given that Whitehaven shares keep going down. This is assumed to have prompted Blackhood to request for a trading halt and ask for debt payment. This was expected although Tinkler denied this allegation and instead said that the placement was still on. He further stated that there was no connection with Blackwood yet (Manning 1, 2012).
RESOURCE TAX TO FATTEN MINING GIANTS’ BOTTOM LINE
Analysts from Deutsch bank reported that BHP Billiton and Rio Tinto would have to initiate mineral resource tax by depositing 1-3billion dollars each in their June accounts. This will be treated as income and will be reflected in the companies’ records. The head of Australian mining research Paul Young affirmed that the iron ore miners were likely to give in despite the reduced coal prices. The mineral resource rent tax started in July 1, was based on the historical involvement of the miners’ investment in the mines. It however did not tax them on earnings obtained before the investment. The tax is 30% of the earnings obtained from coal and iron ore; it excludes the capital expenditure and the annual depreciation. The starting base is likely to be based on the book value because a great deal of past records is available in the records as compared to the physical analysis of the mine markets (Manning, 2012).
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