HIP POCKET NEWS - Friday August 12 2016
ELECTRICITY
NSW electricity sell-off: Scott Morrison blocks Mike Baird’s sale of Ausgrid to Chinese bidders
Publication: The Daily Telegraph
One-sentence summary: The Federal Government has said that the decision to block the sale of half of Ausgrid electricity network to Chinese buyers is not based on race or politics.
Ausgrid: Treasurer Scott Morrison shuts China out of electricity grid
Publication: The Australian
One-sentence summary: “Scott Morrison’s decision to block two Chinese bids for NSW’s electricity assets on national security grounds has cast a shadow over Australia’s relationship with its biggest trading partner and the prospects for foreign investment in critical infrastructure.”
SA power prices inflated by generators gaming market, says report
Publication: Renew Economy
One-sentence summary: A report has found ‘demonstrable evidence’ that SA’s increased power prices have been “artificially inflated by the state’s oligopoly electricity generators.”
Publication: The West Australian
One-sentence summary: “Alinta could be back in public ownership within six months, with its private equity owners now favouring a $3 billion-plus refloat of the former State-owned gas utility.”
HEALTH INSURANCE
Medibank faces big hurdles
Publication: The Intelligent Investor
One-sentence summary: Medibank is facing shrinking margins and lower growth; private health insurance premiums to keep increasing.
LIFE INSURANCE
AMP slumps on sector pessimism
Publication: The Australian
One-sentence summary: CBA 37% decline points to life insurance, similarly with AMP.
OLDER CONSUMERS
Why Australian women over 55 aren’t exactly enjoying the time of their lives
Publication: The Conversation AU
One-sentence summary: Australia falls behind other developed countries when it comes to economic and social well-being of people over the age of 60; a recent study identified a need for innovative strategies and programs to improve older women’s quality of life.
Budget certainty key to aged care sector investment
Publication: The Herald Sun
One-sentence summary: Demand of future ageing population is creating challenges for residential aged care sector.
YOUNG CONSUMERS
The Aussie degrees that will leave you jobless
Publication: Yahoo! 7 News
One-sentence summary: Report – which degrees fail to find students full time work.
Nothing ‘fair’ for next generation about high debt, says Turnbull
Publication: The Australian Financial Review
One-sentence summary: “nothing more unfair than saddling coming generations with mountains of debt” – Turnbull.
OTHER
More Australians getting in over their heads in personal debt, Westpac report reveals
Publication: ABC News
One-sentence summary: Westpac report has found that Australian consumers cannot keep up with their mortgage payments.
