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BHP fights $205 mln royalty bill on Australian coal sales

2015-11-12 12:06:06| Grocery - Topix.net

BHP Billiton is disputing an A$288 million coal royalty bill from Australia's Queensland state, stemming from how it measures the value of coal, it said on Thursday. BHP Billiton has long defended a policy of calculating its royalty payments based on the first sale of the coal to its BMAG marketing hub in Singapore, where it pays lower corporate tax.

Tags: sales bill australian coal

Australian bank to pay out compensation

2015-11-12 05:07:11| BBC News | Business | UK Edition

One of Australia's biggest lenders, ANZ, is compensating 200,000 customers A$13m ($9.3m; 6.1m) after it failed to apply bonus payments to some saver accounts.

Tags: pay bank compensation australian

Australian fossil fuel subsidies put at $5.6bn a year in new report

2015-11-12 03:32:00| Climate Ark Climate Change & Global Warming Newsfeed

Renew Economy: As Malcolm Turnbull heads to Turkey to attend this weekends G20 Summit in Antalya, a new international report has revealed that Australia is still subsidising fossil fuel production to the tune of a massive $A5.6 billion a year. The report, Empty promises: G20 subsidies to oil, gas and coal production, also highlights how Australian companies have received billions of dollars from other G20 governments to develop liquefied natural gas sites. And it notes that Australia also funds the industry...

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Myth busted - how China trade deal will really affect Australian agriculture

2015-11-11 07:52:46| Automakers - Topix.net

While dairy, beef and wine a big winners under ChAFTA, there are no tariff cuts for some of Australia's biggest agriculture exports such as wool, CBA's Peter McGregor says. Agriculture has been touted as a big winner in the China Australia Free Trade Agreement but a closer look at the deal shows it is unlikely to have much influence on the national economy.

Tags: china trade deal affect