“A tired old boring Liberal budget”: The Australian startup community reacts to the 2016 budget and other top stories.

• “A tired old boring Liberal budget”: The Australian startup community reacts to the 2016 budget

  The Australian startup community has reacted with mixed opinions to the 2016 budget, with many lamenting the lack of any new innovation policies while also welcoming its focus on fintech and education. Tuesday night’s budget served mainly to reaffirm several elements of last year’s $1.1 billion innovation statement, with very few new policies or funding announcements. According to StartupAUS CEO Alex McCauley this meant the budget is a “missed opportunity” for startups and is ultimately “disapp..

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• Premium prices to fall further: QBE

  

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• New Santos CEO Kevin Gallagher to slice costs harder before more asset sales

  

  "There's no active asset sales process in play at this point in time," new Santos CEO Kevin Gallagher said after the oil and gas company's annual meeting in Adelaide. Photo: David Mariuz New Santos chief executive Kevin Gallagher says there will be a re-shaping of the company's oil and gas portfolio once a cost-cutting and stabilisation phase is finished but he is not selling any assets immediately.Mr Gallagher won't put a time frame on when the re-shaping mi..

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• BHP shares drop $US43bn following lawsuit

  

  BHP shares drop $US43bn following lawsuit

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• Rate cut gives bank margins another squeeze

  

  Banks will find it even harder this time to ease the squeeze on margins following the rate cut. Photo: Paul Rovere Australia's big banks will take another hit to profits after passing on the full cut to the official cash rate, but most are expected to be able to maintain dividend payouts.The banks' net interest margins – the income they get from loans, less the cost of funding them – were already under pressure on a number of fronts, including ongoing heavy d..

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• Budget 2016: Budget revenue raising 'limited': Moody's

  

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• Scott Morrison declares an end to class warfare ...

  

  Video will begin in 5 seconds. Budget 2016: Labor's fairness attack The opposition attacks the government's budget on fairness grounds in question time on Wednesday. PT4M35S 620 349 Treasurer Scott Morrison has declared an end to class warfare in Australian politics during his post-budget sales pitch, saying voters were "over the us and them" approach to governing.As the government shifted gears and began its election-eve sales pitch, Mr Morrison dismissed claims the budget h..

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• Victorian taxi review: Essential Services Commission recommends $10 peak hour booking fee

  

  Victorian taxi review: Essential Services Commission recommends $10 peak hour booking fee Updated May 04, 2016 12:41:54 A review of the Victorian taxi industry has recommended a new $10 booking fee to improve incentives for drivers to operate during peak hours. Key points:Fare would be additional to current booking feeReport says consumers increasingly switching to competing servicesPeak period should come forward to 7:00pm on Friday and Saturday, report says The Esse..

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• Dick Smith brand back in business

  

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