DOMESTIC
Budget speculation – Questions in the media about the size and nature of expenditure cuts in next Tuesday’s Federal Budget intensified this week, with business commentators split on how deep cuts need to be to control inflation, while the Opposition claimed that inflation is not an underlying problem and the Government have been talking it up.
Interest rates – The RBA as predicted held interest rates steady at its monthly meeting, although with a warning that action might need to be taken if inflation stayed at current levels, while there were a number of further media reports of the growing rental crisis in metropolitan areas.
The Logies – Kate Ritchie won the Gold gong for the second year running, despite having left the soapie Home and Away, while the ABC did well in comedy and news categories. Ratings continued to slide for the awards show, with some complaining of a lack of international stars at the ceremony.
Sydney Harbour crash – There have been several funerals this week for the victims of last week’s fatal crash on Sydney Harbour, while it remains unclear who was behind the wheel of the runabout when it collided with a fishing trawler, killing six people onboard.
Troy Buswell – The WA Opposition Leader has been backed by his party room, despite tearfully admitting to sniffing the chair of a female staffer, with a spill failing to remove him. The Labor Government is heavily favoured by pundits and bookmakers to retain government at the upcoming election.
INTERNATIONAL NEWS
Burma Cyclone – The death toll from Cyclone Nargis continues to mount to horrific numbers, possibly well over 100,000 people, as international aid agencies continue to negotiate with Burma’s military rulers to get access to the worst hit areas. The US, Australia and many other countries have promised aid.
US Presidential race – Most US pundits are saying the Democrat race to be that party’s nominee is finally over, with Barack Obama easily winning the North Carolina primary and narrowly losing Indiana to Hillary Clinton, who now cannot overtake Obama’s delegate lead. Clinton has vowed to continue her campaign.
Afghanistan - Lance Corporal Jason Marks has been buried near is home at Yeppoon, while there were media reports the US will send a further 7,000 troops to Afghanistan to attempt to quell the expected summer push by Taliban forces.
BUSINESS NEWS
Petrol prices – The international oil price continues to go up, now heading over US$125 a barrel, whilst in Australia the ACCC has started naming companies it believes are responsible for higher than necessary fuel prices, although some business commentators have called for greater powers for the ACCC to act.
In other business news: Unemployment went up slightly to 4.2% last month, although employment also rose as the participation rate increased significantly; St George Bank announced a disappointing interim profit result; and Danish investment bank Saxo has bailed out Tricom.
TALKBACK
The big news stories of the week dominated talkback as well, with extensive concern over possible cuts in the Budget and continued concern over petrol prices, as well as shock over the loss of life in Burma; although lighter topics still held some sway, the Logies loved by some and dismissed by others and Grant Hackett’s tummy a hot topic as well.
SPORT
Both major football codes are preparing for special events, with rugby league celebrating its Centenary season with a Test Match against New Zealand, whilst Aussie Rules celebrates 150 years with a match between Victoria and an all star team; Grant Hackett’s fitness became a subject of intense media coverage after controversy over a photo and his performance at an Olympic trial in Spain; and Adelaide and Melbourne are both still well in the hunt for a Quarter Final spot in the Asian Champions’ League.
QUOTE OF THE WEEK
“Every mother loves her baby, every baby is valued and Mr Rudd should value all babies equally”
Federal Opposition Leader Brendan Nelson lets us know where he stands on motherhood
Tracking the media, monitoring the message
