Economy

Government staying quiet on mining tax: Midday roundup

Patrick Stafford /

The federal government is staying quiet on how much money it is receiving from the minerals resource rent tax.

The Coalition is increasing pressure on the government to reveal how much tax is being raised through the new regime, which has been in place since July 2012.

Finance Minister Penny Wong has said the government cannot reveal more details than its monthly financial statements.

“The administration of tax law is independent of the government,” a spokesman for Senator Wong told AAP.

“While the opposition advocates breaching the law to make a political point, we take our responsibilities more seriously.”

Dell shares rise as company considers going private

Shares in Dell have surged more than 12% to $US12.27 in the United States after rumours spread the company was considering delisting from the stock exchange.

Both Bloomberg and Reuters have reported the company is in talks with private equity firms about a buyout, quoting unnamed sources.

Both reports suggested the talks are in a preliminary stage, and aren’t binding at any point. Banks had also been contacted about the discussions, it said.

Dell has suffered a decline over the past few years due to falling personal computer sales.

Obama urges action on debt ceiling

Barack Obama and Federal Reserve chairman Ben Bernanke have both urged Congress to raise the country’s debt ceiling.

“It’s very, very important that Congress takes the necessary action to raise the debt ceiling to avoid a situation where our government doesn’t pay its bills,” Bernanke said yesterday.

“We’re not out of the woods because we are approaching a number of other fiscal critical watersheds coming up,”

Shares higher after modest Wall Street lead

The Australian sharemarket has opened higher today following a modest lead from Wall Street.

The benchmark S&P/ASX200 index was up 8.4 points or 0.2% to 4,728.1 at 12.00 AEST, while in the United States the Dow Jones Industrial Average rose 18.9 points or 13,507.3.

 

Advertisement
Patrick Stafford

Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.

We Recommend

FROM AROUND THE WEB