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Commonwealth Bank CEO Ian Narev got a 50% pay rise despite scandals involving the bank in 2016. Dan Himbrechts/AAP

ASIC gives the banks cause for Christmas celebration

Just before everyone sits down for their Christmas dinner ASIC has handed two of Australia’s big four banks a big present.
MYEFO leaves Treasurer Scott Morrison with the difficult task of managing Australia through a period of both sluggish GDP growth and a persistent budget deficit. Mick Tsikas/AAP

There are two big political problems buried in the latest budget update

Next year GDP will grow at the second-slowest rate in 16 years, according to MYEFO. This has big implications for unemployment and the deficit.
MYEFO is more positive about the 2016-17 budget bottom line than previous expectations. However, projections over the forward estimates have worsened. Lukas Coch/AAP

2016-17 MYEFO experts’ response: more of the same is not good enough

While MYEFO discussion focuses on the budget deficit, experts say it also serves as a stark reminder of the need for bigger policy ideas in Canberra.
Customer-facing roles may soon be taken over by cheaper, friendlier and more knowledgeable robotic retail assistants. Thomas Peter/Reuters

Business Briefing: when robots and customers meet

Business Briefing: when robots and customers meet The Conversation17.8 MB (download)
Customers might prefer digital robots who don't judge for now but physical robots with empathy may be the customer service workers of the future.
Scott Morrison says after current spending is taken care of the government will be able to focus on ‘good debt’. Lukas Coch/AAP

Morrison moves to reassure credit ratings agencies

Treasurer Scott Morrison says the government will take on more ‘good debt’ to boost productivity when current spending is under control.