Banks take CBA lead on raising home loan rates – Melbourne Age

Banks have gouged on interest rate guarantees: ALPThe Australian

Commonwealth Bank celebrates lifting mortgage rates with lavish party – Melbourne Herald Sun

090616australianMalcolm Turnbull rebounds as rival Peter Costello quitsThe Australian



Interest rates

Banks take CBA lead on raising home loan ratesMelbourne Age

Banks have gouged on interest rate guarantees: ALP – The Australian

Which bank parties as mortgages soar? – it seems jacking up interest rates is worth celebrating – with Krug and caviar reports the Sydney Daily Telegraph about a planned CBA end of financial year staff gathering

Commonwealth Bank’s 5-star partyAdelaide Advertiser

Commonwealth Bank celebrates lifting mortgage rates with lavish party – Melbourne Herald Sun

Economic matters

Opposition claims on debt dismissedMelbourne Age

Queensland Treasurer Fraser opposes NSW protectionist policy on Chinese imports – Brisbane Courier Mail


Caravan stamp duty rolls awayin State BudgetSydney Daily Telegraph

Brace for budget slash and burn: Andrew Fraser sees sacrifices before surplus returns – Brisbane Courier Mail

Industrial relations

Caucus unrest over coercive powersThe Australian

Race relations

Islamic school divides western Sydney suburbSydney Daily Telegraph

Indian rioters are hypocrites – Harpeet Bhagrath in the Sydney Daily Telegraph

Public service

Pressure to let SA Public Service heads hire, fire Adelaide Advertiser


Robbing Rudd to pay Rann: Liberals accuse Premier Mike Rann of skimming stimulus fundsThe Australian

Kevin Rudd’s local school gets $3m for double-upsThe Australian

Opinion polls


Coalition closing as Labor lead fallsThe Australian

Political life

Suleyman elected to key ALP body – The ALP has responded to the Brimbank Council controversy by elevating one of the central players to the party’s supreme decision-making body – Melbourne Age

Standoff on Rudd ‘pugilist’ remark – a Tasmanian union leader has publicly rebuked Kevin Rudd over his attacks on Senate hopeful Kevin Harkins, and warned against federal intervention to nobble his preselection – The Australian

Senate holds key to early electionAdelaide Advertiser on the current state of play

Peter Costello to quit politics; Mal Brough may replace him – Brisbane Courier Mail

Political death

Malcolm Turnbull rebounds as rival Peter Costello quits – The Australian

090616ageCostello clears the way for TurnbullMelbourne Age

Dancing his last fandango, he still had star quality – says Tony Wright in the Melbourne Age

Some words for the Member for Higgins – Melbourne Age

A political life in pictures – Melbourne Age

Howard damns Costello with faint praiseSydney Morning Herald

End of an era as Costello goes – Sydney Morning Herald

A hint of strange things

Rudd close-lipped on RBA millions – the Melbourne Age reports that the Prime Minister is silent on the millions of dollars in payments to foreign middlemen by the Reserve Bank of Australia’s banknote printing subsidiaries.

You caught me, admits RailCorp manager – the Sydney Morning Herald reports from ICAC

Card rort findings sent to regulator – an audit report and legal advice to the Health Services Union has suggested there were financial irregularities and possible breaches of industrial law while the union’s national office was headed by the Labor MP for Dobell, Craig Thomson – Sydney Morning Herald

Human rights

Human rights laws ‘too weak’ – Human Rights Commission wants constitution amended to remove sections that are racially discriminatory, and to specifically recognise indigenous people in a preamble – Melbourne Age


Tough-talking deputy stakes her claim – Malcolm Colless in The Australian on Julia Gillard and her dealings with unions

A capital idea to cut company tax – Michel Stutchbury in The Australian is all for cutting company tax and increasing the GST rate

Dr Peter and Mr Costello – Tim Colebatch in the Melbourne Age says there are two sides to Peter Costello, and they have not been equally admirable.

Thwarted in his singular goal, golden boy opts to write finis – Shaun Carney in the Melbourne Age

The almost-leader bows out from his half-world – Michelle Grattan in the Melbourne Age says Peter Costello is wise to be leaving politics

Regret, relief for right decision – Paul Kelly in The Australian on Costello’s departure

Labor’s work laws key: compromise – Gerard Henderson in the Sydney Morning Herald

What will we do now that he’s no longer not there for us? ponders Annabel Crabb in the Sydney Morning Herald

He gave much, promised more – Sydney Morning Herald editorial

Commonwealth Bank rate hike shellacking is unfair – Paul Syvret in the Brisbane Courier mail



Hardliners open fire as tension grips TehranLondon Times

Shots fired as more than 100,000 Iranians defy march ban – At least one person killed at opposition rally in Tehran; Defeated reformist leader Mousavi urges fresh election – The Guardian, UK

Economic matters

Eurozone banks face $283bn writedowns – Eurozone banks face additional losses of more than $283bn this year and next as continental Europe’s severe recession intensifies strains on its financial sector, the European Central Bank has warned – Financial Times of London


Leader Emerges With Stronger Hand – Mahmoud Ahmadinejad’s victory demonstrated that he is the shrewd front man for a clerical, military and political elite more unified than at any time since the 1979 revolution – New York Times

Stay the Course – Paul Krugman in the New York Times writes that the debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts


090616londondailyteleRates may rise later this year, warns CBI – The CBI has sharply upgraded its growth forecasts and given warning that the Bank of England may begin raising interest rates by the end of the year, much sooner than widely expected – London Daily Telegraph

German credit crunch deepens – Germany’s top industrial group has warned that credit conditions are going from bad to worse across much of the country’s manufacturing base, dashing hopes for a swift recovery – London Daily Telegraph

Bank loan guarantee a ‘barrier’ – Productivity Commission chief has singled out the Government’s bank borrowings guarantee as an impediment to competition – Melbourne Age

Aluminium price up as China increases demand – The Australian

Humphrey B Bear’s real debt revealed – Sydney Daily Telegraph


Senator hears a science lesson on climate – Senator Steve Fielding gets advice on climate change – Sydney Morning Herald

Proposed Queensland planning laws to push through development – Brisbane Courier Mail



BBC accuses Iran of trying to block Persian serviceThe Guardian, UK

Even Forbes Is Pinching Pennies – New York Times


Swine flu

State suffering swine flu effects – Victorian employers are reporting high levels of absenteeism and tourism operators a reduction in visitor numbers – Melbourne Age

Far too many potential swine flu cases to test – Melbourne Herald Sun


090616wshpostseedsDemand for Vegetable Seeds Is Rooted in RecessionWashington Post


090616heraldsunTragic family history repeats itself for Desmond MoranMelbourne Herald Sun

Bullets for ‘Tuppence’ silence the Moran crime dynastyMelbourne Age

Not only does cyber crime pay, but it pays very well – says Australian Institute of Criminology – Melbourne Age


Health groups seek tougher drink lawsMelbourne Age

Drink spiking claims rejected – The Australian


090616yownsvillev8Open slather for Townsville 400Townsville Bulletin


Australians add flavour to sprintsFrancesca Cumani previews Australian involvement at Royal Ascot – Melbourne Age