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NewsMail Afternoon Edition
Thu 01 Aug, 2013

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Bank shares fall amid speculation of bailout levy

Shares in Australia's big four banks have plunged amid reports the Federal Government wants to introduce a levy on lenders to help fund any future bailouts.

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The Drum

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Ciggie stardust: is this really a win-win dash for cash?

A tax grab conducted from the safest altitude of all - the moral high ground. What's not to love?

In truth, though, you can't have a tobacco tax increase that is both a successful public health initiative and a robust ongoing source of revenue.

The long-term success of either purpose is entirely predicated on the failure of the other; either you eliminate smoking altogether, in which case no revenue, or you continue coining it for generations, in which case people continue to die with cancer.

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Just In

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Qld unlikely to join federal school plan before election

The Queensland Government denies it is being uncooperative in negotiations with the Commonwealth on the Better Schools funding plan.

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World

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Twins for parents whose triplets died in fire

The New Zealand parents of triplets who died in a fire at a Qatar shopping mall last year have announced the birth of their twins.

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Business

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Bank shares fall amid speculation of bailout levy

Shares in Australia's big four banks have plunged amid reports the Federal Government wants to introduce a levy on lenders to help fund any future bailouts.

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Politics

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Mixed reaction to proposed cigarette tax hike

ABC News readers have their say on plans to increase taxes on cigarettes over the next four years.

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Sport

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Hird denies chasing undetectable testosterone cream

James Hird has denied allegations he spoke to a doctor about an undetectable testosterone cream for the Bombers.

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Science and Technology

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Dead whale washes up covered in 'shark bites'

A ranger said a dead whale washed up on a South Australian beach was covered in shark bites.

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Environment

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Sea Simulator aquarium targets coral killers

A Queensland-based "sea simulator" that enables scientists to study the long-term effects of ocean warming, water acidification and dredging, has been welcomed by scientists.

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