Your morning Briefing
Welcome to your morning roundup of what’s making news and the must-reads for today.
Hello readers. Here is your two-minute digest of what’s making news today.
Mega-union warning
John Howard has urged the Turnbull government to revive plans to subject union mergers to a public interest test, expressing concern that the merger of the militant construction and maritime unions represented “ultra-concentration of union power”. The former prime minister’s concern was shared by former Patrick chief Chris Corrigan, who said the CFMEU had a record of being “fairly lawless”.
“Just like we don’t like an ultra-concentration of commercial power, why should we feel comfortable about an ultra-concentration of union power, particularly given the track record of the two unions.”
John Howard
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Cold on coal
Snowy Hydro boss Paul Broad has warned ministers not to bow to the Monash Forum and build a new coal-fired power station. AGL continues to defy pressure from the PM to sell its Liddell power plant as the competition watchdog blasts the energy giant.
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Toyota loses feeling
The wheels are continuing to fall off the $6 million-a-year David Warner money-making express, with Toyota the latest international corporate giant to reveal it is withdrawing a personal sponsorship.
“Based on David’s suspension and in light of recent events, we can confirm that we have ended our partnership with David Warner.”
Toyota spokeswoman
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Lending boom ending
The “salad days” for lending were ending, with banks facing tighter regulatory controls and the housing boom over, former prime minister Paul Keating warned at a conference in Sydney yesterday. Mr Keating said the banks were facing tighter controls as a result of the Basel rules on capital adequacy, while financial regulators had had a “gutful” of them. This was likely to lead to changes that would restrict the banks’ ability to lend.
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Gold rush
A revitalised Cate Campbell led the Australian women’s 4x100m freestyle relay team to a world record and gold medal last night., while our fast and fearless track cyclists sparked wild celebrations inside the Anna Meares Velodrome after beating the old foes, England and New Zealand. Keep up with all the action from the Gold Coast in our live Commonwealth Games blog.
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Kudelka’s view