ABC News (Australian Broadcasting Corporation)

Business

Turnbull to restrict gas exports to lower power prices

The Federal Government will intervene to restrict gas exports in a move Malcolm Turnbull argues will put downward pressure on power prices.
- Why you’re about to pay through the nose for power
House prices showing signs of cooling as impact of apartment boom hits

The construction boom is starting to weigh on Melbourne and Brisbane apartment markets where prices are starting to fall.
Tabcorp merger with Tatts waved through

Tabcorp’s punt to go straight to the Australian Competition Tribunal in its takeover play for Tatts is a winning move.
WA uranium ban to exclude existing projects

Uranium mining will be banned in WA as the McGowan Government moves to honour its election commitment, but four already-approved projects will be allowed to proceed.
Fact Check: Is Pauline Hanson correct about a difference between a bank levy and bank tax?

Senator Pauline Hanson called the Government’s bank levy “policy on the run” and a tax deduction for the major banks. Is that accurate? RMIT ABC Fact Check investigates.
Dick Smith shareholders seek compensation, alleging they were deceived

Hundreds of Dick Smith shareholders launch a class action alleging they were deceived about the financial state of the company before it collapsed in 2016.
Wall Street hits new highs on tech reboot and French election

The global market returned to a “risk-off” spirit on positive news in Europe and tech stocks finding favour with investors again.
Household debt sees Australian banks downgraded again

Global ratings agency Moody’s downgrades the big four banks and eight other institutions over fears about the housing market.
Dick Smith shareholders seek compensation, alleging they were deceived

Hundreds of Dick Smith shareholders launch a class action alleging they were deceived about the financial state of the company before it collapsed in 2016.
Revised bid flagged for Arrium’s Whyalla steelworks

A revised bid is being made by British consortium GFG Alliance for Arrium’s troubled steelworks at Whyalla in South Australia.
How battery storage could solve our energy problems

If chief scientist Alan Finkel gets his way, battery storage will be central to Australia’s energy future. So how does it work, which other countries are doing it and how much of a “thing” will it be here?
- Power price hike pain spreads to Origin customers in SA, NSW

Features

Why power prices are rising

Business leaders pleaded for partisan support for the Finkel report’s findings, but with partisan breakdown over energy policy erupting yet again, power prices only have one way to go — up.
Atlassian imposter syndrome

Australian tech billionaire Mike Cannon-Brookes admits to having “imposter syndrome” but says it can be useful — citing his recent bet with Tesla’s Elon Musk.
Arrium deal explained

A South Korean consortium is the frontrunner to take over Arrium’s Whyalla steelworks, but are local jobs secure just yet?
Why India free trade deal unlikely

Developments in India this week show the prospects of an eventual free trade deal are remote at best, James Bennett writes.
Ten’s problems are history repeating

While Ten’s latest problems are contemporary, the network has faced many hurdles during its lifespan.
‘Clean’ coal-fired power will not work: industry insider

An industry insider heaps scorn on the push to create electricity from “clean” coal-fired power, dismissing it as unviable.

ASX Quotes

Table showing ASX index quotes for today (as of Tue Jun 20 2017 16:10:30 GMT+1000 (AEST))
Index	Opening	Closing	Change
All Ordinaries	5835.50	5792.30	-0.7%
S&P/ASX 200	5805.20	5757.30	-0.8%
S&P/ASX 200 Consumer Discretionary	2245.50	2254.40	0.4%
S&P/ASX 200 Energy	8858.50	8723.30	-1.5%
S&P/ASX 200 Financials	6506.90	6441.80	-1%
S&P/ASX 200 Health Care	24252.00	24132.00	-0.5%
S&P/ASX 200 Information Technology	878.50	878.80
S&P/ASX 200 Materials	9668.70	9627.30	-0.4%
S&P/ASX 200 Industrials	5909.80	5865.10	-0.8%
S&P/ASX 200 Consumer Staples	9141.60	9103.40	-0.4%
S&P/ASX 200 Telecommunication Services	1547.70	1538.90	-0.6%
S&P/ASX 200 Utilities	9059.90	8961.00	-1.1%
S&P/ASX Small Ordinaries	2380.80	2376.80	-0.2%
S&P/ASX 100	4816.80	4774.80	-0.9%
S&P/ASX 20	3276.80	3244.00	-1%
S&P/ASX 50	5764.00	5706.50	-1%
S&P/ASX Midcap 50	6269.80	6266.90
S&P/ASX200 A-REIT	1446.70	1416.00	-2.1%
S&P/ASX 200 Financial-X-A-REIT	7257.30	7184.80	-1%
S&P/ASX 300	5748.00	5701.70	-0.8%
S&P/ASX 300 Metals and Mining (Industry)	2838.70	2824.10	-0.5%
S&P/ASX All Ordinaries Gold (Sub Industry)	4497.90	4395.10	-2.3%
S&P/ASX All Australian 50	5700.30	5644.30	-1%
S&P/ASX All Australian 200	5741.00	5692.40	-0.8%