Today's Headlines

an Aussie's viewpoint on Australia's first daily Internet newspaper
Since October 1995

Saturday 1st June 1996

Search news archive by day
Search archive by text (NB - News Index)
Definitive Guide to Aussie webs
Global Web Builders Gold
The Kid's Locker Room
World Wide Websters

International:

The Victorian State Government under Premier Geoff Kennett are likely to push ahead with sweeping changes to drug laws in that state following an eight hour open debate in the State Parliament yesterday. Members of his own party voted against the decriminilisation of marijuana during a historic sitting of the full house yesterday.

Government sources have suggested that changes might include the decriminilisation of the drug. Many inside and outside parliament see it as a ploy to divert attention from the bad press that Kennett has been receiving lately in relation to questionable share dealings where there appears to be a conflict in interest.

Political:

The Howard government is starting to feel the frustration of getting bills passed through the Senate. Out of 44 bills passed by the Upper House, or Parliament, 27 have been blocked by the Democrats voting with the Labor Party in the Senate. The war of words in the Senate has been over whether an obstructionist approach is being taken against Government legislative plans.

The bills deferred until August include:

If you look at those as a starting point it appears to me that the Democrats don't just want to keep the "bastards" honest but they want to shut down the whole country!

Business:

The first of the big banks and Australia's major home lender, The Commonealth Bank of Australia, has been forced to reduce its variable home loan interest rate to stay in the market against the new breed of lender. Specialist, lean and mean money lenders like Aussie Home Loans and FAI First Mortgage have undercut the major banks by quite a considerable margin, and in the case of Aussie Home Loans the company is now lending more money for home loans than a couple of the big four Australian banks.

Commonwealth have cut 0.6% of the variable rate reducing it to 9.9% from 10.5% and have introduced an 8.9% "no frills" home loan.

The savings on a Au$100,000 loan are $42 per month with repayments reducing from Au$944 to Au$902.

The Commonwealth's surprise move is guaranteed to create a major rethink amongst other big banks like Westpac, ANZ and the National Australia Bank who have, for too long, been creaming it off the back of the average Aussie.

Can't hurt the housing market either!

In other news a mystery buyer swooped on Metway Bank yesterday snapping up 25% of the Brisbane-based bank's preference shares for Au$13.5 million. The block is sufficient to block St George Bank's new Au$827.5 million offer. In the cut and thrust of high finance the rumour is that the buyer is the National Australia Bank which doesn't want St George, the bank it wants to engulf, getting to big and unattainable.

Money, money, money...

Sport:

Queensland centre Steve Renouf became the first Super League player to commit himself to the coming international rugby league series against New Zealand.

Renouf who played as Australia's test centre before being overlooked last year because of his involvement with Super League confirmed that he would play for Australia if selected.

In the highly confusing world of rugby league that is good for the Australian Rugby League (ARL) and bad for Super League. The ARL decided to play the international series against a New Zealand team in the face of outrage from New Zealand Rugby League officials who had sided with News Limited's Super League.

Several of New Zealand's stars including John Lomax, Quentin Pongia and Ruben Wiki have vowed to boycott the series.

Social:

In this time of outrage by the feminists about "male exploitation" of the female body it is rather ironic to read that the most popular and "pornographic" magazines in Australia today are aimed at women. In particular one magazine called Cleo has now been forced to withdraw its June edition from circulation because it contains "seriously explicit sexual stories."

Cleo has led the way in the liberalisation of feminine thinking with some stunningly encisive articles about the length and performance of the male member (with accompanying pictures). Serious reading - but not for me!

Personal trivia, from the global office:

Our South African friends, Martin and Penny Cloete who have been staying with us for the last month move on tomorrow. Martin has been able to secure himself a good job in Kingaroy and they will be able to enjoy close proximity to the Sunshine Coast.

It is overcast today with heavy clouds and, one would think, the possibility of some falling rain.

I will be enjoying the global office, the river and all that is beautiful about life. Take a moment to savour it - it will be worth it!

Return to Australian National News of the Day

#
Web development, design, and storage by Global Web Builders - Email: global@gwb.com.au

See GLOBE International for other world news.
WA
anotd