OTTAWA — One of Canada’s biggest banks says sliding oil prices could turn the federal government’s promised 2015-16 surplus into a deficit.
A report by TD Bank is projecting Ottawa to run a $2.3-billion shortfall next fiscal year rather than the $1.6-billion surplus predicted by the government in November — before oil prices fell further.
The bank also says the government’s $4.3-billion surplus projection for 2016-17 is on track to become a $600-million deficit unless new revenue-generating or cost-cutting measures are introduced.
At the Cock'n'Bull pub in the heart of Bondi, Irish tricolours were flying and the Guinness was flowing. A fiddler belted out a Celtic tune to revellers soaking up the atmosphere. Such was the happy crush that it seemed a substantial proportion of the tens of thousands of Irish people who have come to Australia to find work in the past year had found their way to the bar.
Naples (Italy) (AFP) - An Italian navy chief on Tuesday poured cold water on suggestions Europe should adopt Australia's policy of turning back migrant boats to end the current crisis in the Mediterranean.
Sydney (AFP) - Australia Friday said it will partner with French industrial giant Thales to develop a "world first" joint civilian-military air traffic control system that could help track MH370-type incidents.
SYDNEY — Australia’s last remaining aboriginal police tracker, Barry Port, is retiring, ending two centuries of a practice in which investigations and manhunts relied on hired bushmen who “can read the ground like a storybook.”
The 71-year-old has been an officer in Coen, Queensland, for 33 years, where the force says he is the reason for its motto, “You can run, but you can’t hide.”
Sydney (AFP) - Australian Prime Minister Tony Abbott marked his country's national day Monday by honouring Britain's Prince Philip with a knighthood, sparking criticism from the opposition of being in a "time warp".
Submitted by Simon Black of Sovereign Man blog, Switzerland is the place that has traditionally stood above all the rest in its reputation for financial stability. Why? Because the currency was well-managed, the banking system was sound, and the country had a long tradition of treating capital well. Over the last few years, however, these advantages have collapsed.