According to the Federal Attorney General, curbing online piracy involves the copyright owners, the internet service providers, and customer advocates.
Internet users who are found to make copies of movies and music will be given warnings. If they fail to adhere to the warnings, they will be sanctioned and even disconnected from internet services.
Former Attorney General, Robert McClelland, instructed the secretary, Roger Wilkins, to address the issue secretly through negotiations. The secretary opted for an industry-based solution.
He agreed to go for other options like legislation if the industry failed to comply. The talks proposing internet providers as liable have delayed thus Attorney General’s department went ahead to initiate the industry-based program.
The response was positive, and discussions are on-going to determine whether to warn or educate the abusers. The subject on costs is being negotiated, and it is expected that the ISPs will cover these costs (Colley, 2012).
Infrastructure Critical to Exports: Report
The Australian government report indicates that containing expenditure and building infrastructure would benefit Australia. This will ensure the doubling of the country’s profitable freights by 2025.
The bureau of resources forecasted that the 493 million tonnes of iron ore produced annually would grow up to 1.08 billion tonnes. On the other hand, coking coal would almost double in growth from over 150 to about 300 million tonnes.
This will be achieved through an improved infrastructure as noted by BREE and Resources Minister, Martin Ferguson. Ferguson further noted that the available infrastructure would support the country up to 2017.
Thus, more infrastructures were essential. From the world economy’s approach, long term growth comes with reduction in commodity prices as projected by BREE.
The Reserve Bank reported that the reduction on commodity prices by 1.7 per cent to 9.9 per cent is attributed to reduced prices for iron and coal (Yeates, 2012).
Doubts on Euro Quick Fix: Danger Zone
Recurrence of the European debt crises can lead to consequences like civil war. However, this will only be avoided if German leaders agree to entangle the Eurozone nations’ fortunes.
The effects of this may be global; however, the share markets, especially in the US, may be restored if the issue is addressed successfully by European leaders.
Angela Merkel, the German Chancellor, will have no option but to give in to measures that unite Euro nations before the year ends. The awful effects of a broken Euro currency will be felt on the economical, social and political fronts.
This will see the fall of Eurozone which is likely to go down with the German economy. The head of research at Bell Potter Securities, Peter Quinton, noted that the bailout package needs to be tripled for Eurozone to stabilize. This is necessary since the US share prices are going up (Whalley, 2012).
Blackwood Halt Raises Querries on Tinkler Deal
Blackwood Corp, a listed, coal explorer may be required to give an explanation for the 5.30 billion dollar privatization bid for Whitehaven coal.
The information provided is inadequate to explain the allocation of 28.4 million dollars meant to fund a drilling campaign. Whitehaven Coal received 5.2 million dollars from the Tinkler group.
This included support from the share holders. This was not enough, and Tinkler sought a further 17 % from Whitehaven or else the group would be forced to raise further equity and buy them out.
Tinkler privatization is likely to fail given that Whitehaven shares keep going down. This is assumed to have prompted Blackhood to request for a trading halt and ask for debt payment.
This was expected although Tinkler denied this allegation, and instead, said that the placement was still on course. He further noted that there was no relationship with Blackwood yet (Manning, 2012a).
Resource Tax to Fatten Mining Giants’ Bottom Line
Analysts from Deutsch Bank reported that BHP Billiton and Rio Tinto would have to initiate mineral resource tax. This was to be done by depositing 1-3 billion dollars each in their June accounts.
This will be treated as income and will be reflected in the records of both companies. The head of Australian mining research, Paul Young, affirmed that the iron ore miners were likely to give in despite the reduced coal prices.
The mineral resource rent tax was initiated on July 1st based on the historical involvement of the miners’ investment in the mines. However, it did not tax them on earnings obtained before the investment.
The tax is 30% of the earnings obtained from coal and iron ore. This excludes the capital expenditure and the annual depreciation.
The starting base is likely to be based on the book value due to the availability of previous records (Manning, 2012b).
Colley, A., 2012. ‘Deal to Combat Piracy Nears for Australia’, The Australian. Web.
Manning, P., 2012. ‘Blackwood halt Raises Querries on Tinker Deal’, Business Day. Web.
Manning, P., 2012. ‘Resource Tax to Fatten Mining Giants’ Bottom Line’, Business Day. Web.
Whalley, J., 2012. ‘Doubts on Euro Quick Fix: Danger Zone’, Herald Sun. Web.
Yeates, C., 2012. Infrastructure critical to Exports: Report. Web.