Your afternoon Briefing

Good afternoon, readers. Here’s what made news this Wednesday.

Good afternoon, readers. Here’s what made news this Wednesday.

Federal Opposition Leader Bill Shorten has announced Labor Party funding to extend the Bruce Highway to the Cairns Airport. PICTURE: BRENDAN RADKE

Shorten defends savings grab

Bill Shorten has defended his dividend imputation crackdown despite the revelation it could wipe more than $3.75 billion from retail superannuation funds over the next decade. The Opposition Leader labelled the revelation, published in The Australian this morning, as “rubbish” but would not elaborate on any factual inaccuracies in the report which has been leapt on by Scott Morrison.

(FILES) In this file photo taken on June 01, 1990 Raisa Gorbachev (R), wife of Soviet President Mikhail Gorbachev, raises the hands of Barbara Bush (L), wife of US President George Bush, while the two were introduced at the Wellesley graduation ceremony in Wellesley, Massachusetts. Former US first lady Barbara Bush died on Tuesday, April 17, 2018 at the age of 92 / AFP PHOTO / Don EMMERT

The wise words of the First Lady

Wellesley College students wanted a career woman, not Barbara Bush, to deliver their 1990 graduation address.

Mrs Bush, who died today aged 92, went on to deliver one of the speeches of the century.

You can watch it here.

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24/10/2017: Generic pictures of Commonwealth Bank logo. Hollie Adams/The Australian

CBA a rip-off ‘gold medallist’

A Commonwealth Bank executive has said the country’s biggest bank is the “gold medallist” when it comes to ripping off financial advice customers by charging them for services they do not receive.

Linda Elkins, the executive general manager of CBA division Colonial First State, has been giving evidence at the financial services royal commission today.

The commission has heard that between 2007 and 2015, CBA and its financial planning subsidiaries failed to provide annual reviews to more than 30,000 customers.

It has paid $118 million in refunds to customers who paid money for services they never received.

SYDNEY, AUSTRALIA - APRIL 14: Hugh Bowman on Winx wins the Queen Elizabeth Stakes during day two of The Championships as part of Sydney Racing at Royal Randwick Racecourse on April 14, 2018 in Sydney, Australia. (Photo by Mark Evans/Getty Images)

Race renamed in Winx’s honour

The Australian Turf Club has bestowed a tribute upon Winx before she has finished racing by naming an event in her honour — and one she can win.

The Winx Stakes (1400m) will be run at Randwick in August this year. It will carry Group I status.