THE NEWS WRAP: France credit rating under threat

Labor has won the support of key independent MPs for its mining tax, although the Opposition has warned that it will have a knock-on impact on small businesses.


Independent MPs Tony Windsor and Rob Oakeshott both said that they will support the mining tax after their demands, including an assessment of the impact of coal seam gas drilling, were agreed to.


However, the Coalition claims that the tax will negatively impact 400,000 small businesses due to related changes to the Entrepreneurs Tax Offset, while resource companies warned that it could jeopardise new mining projects.


France credit rating under threat


Rising borrowing costs and slowing growth could endanger France’s triple A credit rating, a leading ratings agency has warned.


Moody’s said that the Eurozone debt crisis was exacerbating the situation, warning: “The French social model cannot be financed if the French economy’s potential is not preserved.”


Brin backs Wikipedia


Google co-founder Sergey Brin has thrown his weight behind Wikipedia, donating $US500,000 to the website via his Brin Wojciciki Foundation.


Wikimedia Foundation executive director Sue Gardner said she was “very grateful” for the donation.




The Dow Jones Industrial Average fell by 298.2 points, or 2.5%, to 11,497.96. The Australian dollar dipped to 98.36 US cents.



Notify of
Inline Feedbacks
View all comments
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Forgot your password?

Want some assistance?

Contact us on: or call the hotline: +61 (03) 8623 9900.