DOMESTIC
Garnaut Report – The release of the complete Garnaut Report on emissions trading was somewhat overshadowed by the American financial crisis, however there was still plenty of discussion of Garnaut’s targets and recommendations for the timing and speed of carbon pricing and the resulting drop in emissions that can be expected by both 2020 and 2050, while some of the media focused on the recommendation to eat more roo.
Maternity leave – The Productivity Commission’s recommendation for 18 weeks paid maternity leave to replace the baby bonus was hailed as long overdue by many commentators, with the Government saying they would definitely introduce some form of paid leave, although business groups warned against any proposal that went more than 14 weeks or involved extra burdens on business.
Rob Guest – Widely known musical and theatre star Rob Guest died this week following a massive stroke, he was best known for his long running role as the Phantom of the Opera, but had appeared in scores of theatrical productions, as well as television, after starting as a pop singer in New Zealand.
Interest rates – The Treasurer Wayne Swan was very quick to warn people with a mortgage not to expect banks to pass on any cut the Reserve Bank makes to interest rates next week in full or even at all due to the international credit crisis, leading Malcolm Turnbull to call Swan and the PM bank apologists. The bank is expected to cut the rate by either 25 or 50 basis points.
INTERNATIONAL NEWS
Britt Lapthorne – The investigation into the disappearance of a young Australian backpacker, last seen at a youth hostel in Croatia two weeks ago has received extensive coverage, with Ms Lapthorne’s family joining the search and Australian authorities offering assistance to the Croatian police.
Paul Newman – the Hollywood star, renowned for his good looks and as well known for his race car driving and philanthropy as for his many huge hit movies in a more than fifty year acting career, passed away this week aged 83 after a lengthy battle with cancer.
US Presidential race – The focus turned solely to the financial crisis as both candidates returned to the Senate to vote for the bailout package, while today’s vice presidential debate was seen as a major test of Republican candidate Sarah Palin.
BUSINESS NEWS
Wall Street Crisis – The US administration’s $700bn bailout failed at the first hurdle, after most House Republicans and a large proportion of Democrats voted against the bill, causing the NYSE and world stock markets to spiral into their biggest single day dive ever. A modified bill passed the US Senate during the week but has yet to pass the House
In other business news: The ASX was slightly less severely affected than the US stock exchange, but still suffered a massive single day drop early this week before regaining some of the lost ground later in the week; and the ACCC has approved BHP’s attempted takeover of Rio Tinto, although some business commentators doubt BHP’s ability to complete the takeover.
TALKBACK
Maternity leave was the number one issue on talkback, as issues close to home received more discussion than the global financial crisis, with most callers in favour but some questioning the motives of the Government; while the AFL and NRL grand finals both received plenty of calls during the week, as did the Garnaut Report.
SPORT
Controversy has dominated the lead-up to the NRL Grand Final in the code’s centenary year, with Melbourne Storm coach Craig Bellamy fined $50,000 for his comments following the suspension of Storm skipper Cam Smith, while Manly tried to focus on overturning last year’s loss to the Storm; In the AFL Grand Final a tight contest was predicted by many and that’s what it turned out to be for most of the game, the Hawks beating the odds to win their first title for 17 years.
QUOTE OF THE WEEK
"You can bail out Wall Street but you can't bail out the planet"
Greens Leader Bob Brown tries to keep the focus on climate change
Tracking the media, monitoring the message
No comments:
Post a Comment