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Kelly O'Dwyer said legislation would be introduced into parliament this year to mandate professional standards for advisers. Mick Tsikas/AAP

Slow start to new standards requirements for financial advisers

The large banks and AMP will be required to fund the establishment of a new independent body to oversee the professional standing of the much-criticised financial services industry.
Gina Rinehart is very close to Deputy Prime Minister Barnaby Joyce, who has been a critic of the Chinese push for Australian land. Paul Millar/AAP Image

Morrison to rule on Hancock-Chinese bid for Kidman cattle empire

Gina Rinehart has partnered with a Chinese company to buy the giant Kidman pastoral empire, after two previous bids by Chinese buyers were rejected by the federal government.
Barnaby Joyce recently said a resolution of the backpacker tax issue was imminent. Dan Peled/AAP

Backpacker tax due to go to cabinet

Federal cabinet on Tuesday is due to consider a compromise on the backpacker tax, as the government moves to clear away the issue as soon as possible.
Scott Morrison said the Moody’s affirmation was a ‘welcome boost’. Mick Tsikas/AAP

Australia’s AAA rating affirmed by Moody’s

Moody's has reaffirmed Australia's AAA credit rating, as Malcolm Turnbull seeks to put pressure on Labor and crossbenchers to pass measures to help repair the budget.
Treasurer Scott Morrison blocked the sale of the Ausgrid lease on national security grounds. Mick Tsikas/AAP

Morrison blocks Chinese bids for NSW power grid

Scott Morrison has rejected Chinese bids for the 99-year lease of 50.4% of Ausgrid, the NSW electricity distribution system, for security reasons.
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction. Paul Miller/AAP

Turnbull to banks: pass on whole interest rate cut

Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
The RBA has cut rates to try and stimulate inflation and growth. Dean Lewins/AAP

Economists react: RBA cuts rates to 1.5%

Economists are divided on whether the latest interest rate cut to 1.5% was needed, as the RBA tries to boost inflation and growth.
Scott Morrison and Mathias Cormann have announced the Coalition’s election costings. Adrian Muscat/AAP

Coalition squeezes welfare lemon again

A $2 billion welfare crackdown is the main contributor to new savings announced by the government to improve the budget by $1.1 billion across the forward estimates.