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NewsMail Afternoon Edition
Fri 27 Jun, 2014

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Government resists call for royal commission into CBA fraud scandal

The Federal Government is resisting calls for a royal commission into the corporate watchdog and the Commonwealth Bank.

A Senate inquiry into a fraud scandal that left thousands of customers millions of dollars out of pocket has slammed the Australian Securities and Investments Commission's (ASIC) handling of rogue financial planners working at the Commonwealth Bank.

The majority report suggests both organisations should face closer scrutiny, but Finance Minister Mathias Cormann says an inquiry into the financial system is already underway.

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The Drum

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Introducing the latest master of the square-up

This week marks the one-year anniversary of Kevin Rudd's square-up against his former deputy, Julia Gillard, who had rolled him three years earlier.

Yet despite being promised a new era of political stability, we are now seeing a familiar pattern of square-ups dotted all over the political landscape.

And Clive Palmer emerges as the master of the art with a massive square-up on Abbott on climate change.

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Just In

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NZ student wins High Court battle to keep long hair

A New Zealand school student who was suspended for refusing to cut his hair has won a High Court battle to keep his locks in place.

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World

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NZ student wins High Court battle to keep long hair

A New Zealand school student who was suspended for refusing to cut his hair has won a High Court battle to keep his locks in place.

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Business

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Government resists call for royal commission into CBA fraud scandal

The Federal Government is resisting calls for a royal commission into the corporate watchdog and the Commonwealth Bank.

A Senate inquiry into a fraud scandal that left thousands of customers millions of dollars out of pocket has slammed the Australian Securities and Investments Commission's (ASIC) handling of rogue financial planners working at the Commonwealth Bank.

The majority report suggests both organisations should face closer scrutiny, but Finance Minister Mathias Cormann says an inquiry into the financial system is already underway.

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Politics

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Richard Alston tipped to be voted new Liberal Party president

Former Howard government minister Richard Alston is expected to be elected as the new president of the Federal Liberal Party at an annual meeting tonight.

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Sport

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Essendon loses injunction bid in Federal Court

Essendon has lost its bid for a Federal Court injunction to stop ASADA's investigation, but a three-day trial will be held in August.

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Science and Technology

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Australian scientists snap 'new mammal species' in PNG

One of Australia's first crowd-funded scientific expeditions may have uncovered several new species of mammal in Papua New Guinea.

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Environment

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Fact check: Abbott overstating household savings from axing the carbon tax

Prime Minister Tony Abbott says every Australian household will benefit to the tune of $550 a year if the carbon tax is scrapped.

Legislation to repeal the carbon tax has passed the House of Representatives and is headed for the Senate.

ABC Fact Check investigates.

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