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NewsMail Afternoon Edition
Wed 26 Mar, 2014

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Government to sell Medibank Private through IPO

The Federal Government has announced it will go ahead with the sale of Medibank Private.

Finance Minister Mathias Cormann has announced the health insurer will be sold through an initial public offering in the next financial year, 2014-15.

He said the details were yet to be finalised, but that an independent scoping study had found no evidence that insurance premiums would increase as a result of the privatisation.

The Government has previously said it wanted to sell Medibank Private at the "right time" to maximise the sale price, but Mr Cormann would not say how much he thought the insurer was worth.

He said the Government wanted to ensure that Medibank customer service and staff did not suffer as a result of the sale, emphasising that it wanted employee entitlements to be retained.

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The Drum

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The priority should be keeping bigotry at bay

The Federal Attorney-General's remark that everyone has the right to be bigoted is not only problematic, but short-sighted and harmful. 

Everyone does have the right to be bigoted and to harbour racist views in private, but there is a critical difference between that and acting on those views and causing harm to others.

Freedom of speech should never mean giving one the freedom to abuse others on the basis of race. And with the mooted repeal of Section 18C of the Racial Discrimination Act, the likelihood of that happening has just increased.

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Just In

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Volume growth to drive mining and gas export earnings

Export earnings from mining and energy are expected to continue growing, despite falling commodity prices.

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World

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Washington mudslide: before and after photos

Use our interactive images to see the scale of destruction left by the Washington state mudslide.

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Business

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RBA boss expecting Australian growth to pick up

Reserve Bank governor Glenn Stevens has delivered an upbeat assessment of the Australian economy, but warned the central bank cannot do all the work to support growth.

"The economy has been doing a bit better than much of our domestic commentary... would have you believe," he said.

Mr Stevens also reiterated an earlier warning from the RBA that banks should not relax their lending standards for customers chasing quick profits in the housing sector.

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Politics

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Shorten backs mother-in-law's new dame title

Opposition Leader Bill Shorten says his mother-in-law Quentin Bryce is "worthy" of being made a dame, but the PM's decision to reinstate the title is like entering a "time warp".

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Sport

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Kewell to retire at season's end

18 years after making his professional debut, Harry Kewell will bring the curtain down on his career at season's end.

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Science and Technology

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MH370 search: 8 things you might not know about black boxes

MH370's black box isn't black, and time is running out to find it. Find out why.

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Environment

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Tony Abbott's Tasmanian wilderness claim doesn't check out

The Federal Government has applied to have 74,000 hectares of the Tasmanian Wilderness World Heritage Area delisted by the United Nations.

Prime Minister Tony Abbott says those areas should be removed because they are not "pristine forest".

Fact Check examines his claim.

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