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Thu 05 Dec, 2013

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Qantas to cut 1,000 jobs, flags loss of up to $300m

Qantas plans to cut at least 1,000 jobs over the next year after reporting an expected pre-tax loss of up to $300 million in the first half of this financial year.

In a statement to the share market, the airline says trading conditions have seriously deteriorated in November.

"The outlook for the second half of FY14 remains volatile and, given the uncertainty in global economic conditions, fuel prices and foreign exchange rates, it is not possible to provide further guidance at this time," the statement said.

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The Drum

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Canberra's key party relationships: it's complicated

Yesterday, Greens leader Christine Milne entered a formal agreement with the Government to abolish Australia's debt ceiling.

The deal disgusted Labor, but one might legitimately struggle to determine whose is the most eye-popping hypocrisy here.

And while such party unions might make things awkward now, wait until July next year when the marital prospects in the Upper House get much, much broader.

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Just In

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Treasures from the Incas visit Canberra

Golden statues and vivid textiles from 2,000 years ago are in Canberra for a rare exhibition of Inca treasures.

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World

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10 beached whales die in Florida, race on to rescue more

Ten whales have died and rescuers are trying to save dozens more that beached in Everglades National Park in south-west Florida.

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Business

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Qantas to cut 1,000 jobs, flags loss of up to $300m

Qantas plans to cut at least 1,000 jobs over the next year after reporting an expected pre-tax loss of up to $300 million in the first half of this financial year.

In a statement to the share market, the airline says trading conditions have seriously deteriorated in November.

"The outlook for the second half of FY14 remains volatile and, given the uncertainty in global economic conditions, fuel prices and foreign exchange rates, it is not possible to provide further guidance at this time," the statement said.

More »

Politics

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Australia, South Korea seals free trade agreement

Australia has concluded negotiations with South Korea for a free trade agreement.

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Sport

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Second Ashes Test: Day One, live blog

Chris Rogers and Shane Watson have been dismissed in consecutive overs as Australia has taken its score past 150.

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Science and Technology

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Amazon's drone delivery plan sparks privacy debate in US

Amazon's proposal to use drone vehicles to make deliveries has caused significant debate in the United States.

Some citizens see potential for drones to expand business capabilities and emergency services, whilst others are concerned about threats to privacy that an increased number of 'eyes in the sky' might pose.

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Environment

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Abbott hits YouTube to ramp up pressure on Labor over carbon tax

Prime Minister Tony Abbott has taken to YouTube in a bid to up the ante on Labor to axe the carbon tax.

Legislation to repeal the scheme is set for debate in the Senate this week but the bills are headed for defeat at the hands of the Opposition and the Greens.

Mr Abbott continues to push his assertion that abolishing the carbon price will save householders hundreds of dollars.

"You could do a lot with $550. That's what every Australian household on average will get from the abolition of the carbon tax," he said in the video.

"It would be the best possible Christmas present for the Australian people."

Labor insists it will only agree to abolish the tax if it is replaced with an emissions trading scheme and not the Coalition's Direct Action policy.

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