Reserve Bank's big budget-day hint to government: Do something! and other top stories.

• Reserve Bank's big budget-day hint to government: Do something!

  

  Opinion Video will begin in 5 seconds. Reserve Bank cuts rates to 1.75% Concerned about a weak first quarter inflation read, the Reserve Bank of Australia has cut the cash rate by 25 basis points to 1.75%. PT1M41S 620 349  Between the lines of the Reserve Bank governor's brief rate-cut statement yesterday was an effective challenge to the federal government: Do something! While Scott Morrison was rehearsing his budget speech lines – and counting – it probably wasn't what he wa..

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• No budget relief on backpacker tax: Nationals MP confirms

  

  No budget relief on backpacker tax: Nationals MP confirms Updated May 03, 2016 12:42:32 Higher backpacker taxes will remain unchanged in the federal budget, a National Party backbench MP has confirmed. Andrew Broad, told ABC Local Radio in Mildura that farmers "won't see a thing" in Tuesday night's budget to resolve their concerns about higher backpacker taxes.The member for Mallee, who's argued against the higher taxes, said budget night is unlikely to be the end of th..

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• Chinese bidder withdraws bid for world's largest cattle station, S Kidman & Co

  

  Chinese conglomerate Shanghai Pengxin Group has withdrawn its bid for S. Kidman & Co's properties. The sale of the world's biggest cattle station, S. Kidman & Co, is in doubt after it was caught in a "political crunch that was unworkable", its chief executive says.Kidman's preferred bidder, Chinese conglomerate Shanghai Pengxin Group, withdrew its bid on Tuesday, days after Treasurer Scott Morrison blocked the sale for a second time, saying it was not in the n..

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• Surfstitch earnings forecast to fall at least 61 per cent to $3m

  

  SurfStitch chairman Howard McDonald has had no contact with former CEO Justin Cameron since he resigned in March to plan a privatisation bid. Photo: James Brickwood Surfstitch shareholders say former chief executive Justin Cameron would get knocked over in the rush if he launched a bid for the online retailer following a massive profit downgrade that sent the shares plunging more than 50 per cent.The former market darling is in the doghouse after warning ..

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• Is this the end of the five cent piece?

  

  Mounting speculation that the government want to privatise the Royal Australian Mint is leading some to question the future of the five cent piece following Tuesday's Budget Speculation is rife that the Turnbull Government's first Budget could sound the death knell for Australia's five cent piece. The Royal Australian Mint revealed during a Senate Estimates hearing in 2014 that it actually cost six cents to produce the five cent piece. "It is actually in decline, which is why it is probably an ..

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• SunRice delays listing on ASX, remains committed to restructure

  

  SunRice delays listing on ASX, remains committed to restructure Posted May 03, 2016 16:31:09 Australian rice processor SunRice has revealed further setbacks to its proposed float on the Australian Securities Exchange (ASX).The company deferred its March shareholder vote on its capital restructure in January. It is planning to de-list the business on the National Stock Exchange (NSX) where shares are currently worth $4.20 and create a SunRice Fund on the ASX, allowing ..

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• Woolworths chases positive sales, not Coles

  

  Video will begin in 5 seconds. Woolworths' new chief launches review Woolworths CEO Brad Banducci is conducting a strategic review as the company's supermarket sales fall further behind rival Coles. PT1M33S 620 349  Australia's biggest supermarket chain is chasing positive sales growth rather than catching runaway rival Coles as the release of Woolworths third quarter sales pushes the gap between the two supermarket chains to its widest point ever.Woolworths newly appointed g..

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• Australian Signals Directorate updates 'Top 4' security guides

  

  The Australian Signals Directorate (ASD) has updated a number of its guides to implementing its ‘Top 4’ security strategies for mitigating targeted cyber intrusions.According to the ASD, at least 85 per cent of the the targeted cyber intrusions that it responds to could be prevented by the four strategies.Those strategies are application whitelisting, application patching, OS patching, and the restriction of administration privileges based on user duties.The ASD has released a suite of new or u..

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