Wednesday, August 27, 2014

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Qantas CEO Alan Joyce fronts the media to announce a $2.8b loss

Qantas shocks with $2.8bn loss; analysts call for management spill

By business reporter Michael Janda

Qantas has shocked industry observers with a record $2.84 billion loss, around three times as bad as expected.
The airline has attributed most of the loss to a $2.6 billion writedown in the value of its international aircraft fleet.
Chief executive Alan Joyce says that despite the "confronting" figures, he sees clearer skies ahead for Qantas and is hoping for a return to underlying profit this financial year.
But despite the result, Qantas shares are up strongly on a plan to split off the struggling international division into a separate holding company.

Live: Qantas announces record $2.84 billion loss

Revised chaplaincy plan panned
The father who challenged the school chaplains program in the High Court says moves to continue it are arrogant.
'Good deal for students'
Students will be asked to pay more under changes to higher education announced by the Government.
'Turned away from flights'
Scott Morrison says people have been detained at airports over fears they were planning to join overseas conflicts.
Websites accidentally blocked
ASIC reveals access to 250,000 websites was blocked after its staff failed to understand IP addresses.
Russian soldiers enter Ukraine
Kiev claims Russian soldiers has crossed the Ukrainian border in armoured infantry carriers and trucks.
15 children via surrogacy
A multimillionaire who fathered 15 children in Thailand will likely be able to take them from the country.
Mother's emotional plea for journalist's release
S Africa hunts down massive Australian total for ODI win
X Factor judge Redfoo glassed at Sydney hotel

World War One Centenary

WWI history contested
An officer who fought with a Scottish regiment may be recognised as the first Australian-born casualty of WWI.
Hope for timber boat builders
Restorers hope to revive Tasmania's shipwrighting craft with an historic steamship makeover.
WWI decisions on show
A new exhibition at Old Parliament House in Canberra traces Australia's political route to join WWI.

Read about the military officers who commanded Australian troops during WWI

Business

Qantas posts $2.8bn loss
Qantas has shocked everyone with a record $2.84 billion loss, around three times as bad as expected.
Getting cheaper rates
A highly competitive market means banks are more willing to cut variable interest rates to existing customers.
ASIC blocks websites
ASIC reveals access to 250,000 websites was blocked after its staff failed to understand IP addresses.
Construction work falls
Construction work done has fallen for the third straight quarter as the resources building boom winds down.
Mining decline hits Seven Group
The end of the mining boom has hit the fortunes of the Kerry Stokes controlled Seven Group.

Analysis & Opinion from The Drum

Reality of our racism
Why did the man who refused to hire a black man think he was speaking for all of us? Luke Johnson writes.
Paradox of dysfunction
The things that succeed in modern politics are the very things that erode its worth, writes Jonathan Green.
Apology Generator 2.0
With more Cliveisms likely, we need an Apology Generator to spit out apologies on cue, writes Josh Aitken.
Kick the addiction
Unless we kick the dividend addiction, we will suffer a capital investment shortage, writes Alan Kohler.
Doctors as dealers
Health advocates are calling for a painkiller crackdown, but we still need safe access, writes Ann Arnold.
When Twitter turns nasty
Social media can be empowering, but trolls quickly reveal the flaws in the system, writes Sarah Malik.
The church's moral failure
The church's "moral failure" towards abuse victims goes beyond just the individual, writes Kathleen McPhillips.
Where to for Australia Post?
Lost in the bush: what chance do regional post offices have for a future? John Rice and Nigel Martin write.

World

Asia Pacific

Logging for palm oil
PNG is set to decide on a Malaysian company's bid to continue to logging rainforest in order to plant palm oil.
Niue wants out
Niue's Premier Toke Talagi says he is considering leaving a Pacific Island Forum subgroup because of frustration over a lack of financial support.
Students fighting bullying
Bullying rates in Guam schools have dropped 80 per cent since adopting student-led counselling programs.
Fiji police officers suspended
Four Fiji Police officers have been suspended in connection to the death of Vilikesa Soko, who had been in police custody.
China can lead the way
Climate policy expert Ross Garnaut says China may lead the push in reducing the world's carbon emissions.

Sport

Karmichael Hunt to leave Suns after 2014 season
Karmichael Hunt has confirmed he will not play for the Gold Coast Suns in 2015 as he takes the "next step" in his career.
Hewitt well beaten by Berdych in US Open first round
Lleyton Hewitt has suffered a heavy first-round US Open defeat to sixth seed Tomas Berdych.

Massive chase
South Africa pulls off the second-biggest run-chase in its ODI history to sink Australia by seven wickets.
Hostile fans
Western Sydney star Shannon Cole has questioned whether Guangzhou Evergrande fans were encouraged to be hostile towards his team.
Shock loss
Agnieszka Radwanska's US Open woes continued with a loss to unfancied China's Peng Shuai in the second round.
Toughen up
Wallabies set piece coach Andrew Blades says Australia must ramp up its physicality to meet the huge challenge presented by the Springboks.

TV & Video

Video

Swimming with humpbacks
Some Queensland operators have jumped at the chance to allow people to swim with humpback whales.
Video

Blast-off for Aussie company
Australian company Electro Optic Systems tracks space junk, which currently destroys several satellites each year.
Video

BrBa dominates Emmys
Breaking Bad has won a swag of awards at television's equivalent to the Oscars, including Bryan Cranston winning best actor.

Video

The man behind church's controversial signs
An Anglican priest has attracted attention with the witty and controversial messages he posts outside his church in Gosford, New South Wales, with the aim of keeping religion relevant, but not everyone is on board.
Video

Small Sydney start-up put Google on the map
Google Maps is a global phenomenon that began as a success story for a small Sydney start-up.

Health

Locked-in syndrome
After his stroke Richard Marsh found himself fully conscious but unable to communicate. Marsh shares his experience of locked-in syndrome and his recovery.
Dying with dignity
Former executive Peter Short has terminal oesophageal cancer. Recently he wrote to every chairman, board member and CEO of Australia's top 300 public companies urging them to discuss euthanasia.
Efficient trials
Professor David Dilts from Division Management at Oregon Health and Science University has some ideas on how we can conduct more efficient cancer trials.

Exercise for mental health: a no brainer?

ABC Fact Check

School chaplaincy program
Keep track of the Coalition's promise to continue the national school chaplaincy program.
Lambie incorrect on defence
PUP Senator Jacqui Lambie says Australia's defence spending is the lowest it's been since pre-World War II.
Three NBN reviews
The Coalition's promise to initiate three reviews into the National Broadband Network is delivered.
Fact file: Surrogate babies
How easy is it to bring overseas-born surrogate babies home and what happens once they're back in Australia?

Rural

Fonterra's China deal
Fonterra will invest $550 million in Chinese dairy giant Beingmate to increase access to the infant milk market. (photos)
R&D funds for WA farmers
New funding for regional based research and development in WA grains industry
Market relocation an 'opportunity'
A vegetable grower says the Melbourne market relocation is in the industry's best interests.

Children capture essence of farming at writers' camp

Did You Miss?

Untangling the web
From bottles of Grange to brown bags of cash, see how the New South Wales ICAC scandal unfolded.
Welfare in your area
How many people claim Centrelink payments near you? Find out using our social security interactive.
Australian transitions 1914-2014
Digital montages show Australians of 1914 mingling on streets with their 21st-century counterparts.
What makes a winner?
Fiona Lowry bucked the trend with her winning Archibald portrait. See how it compares to previous winners.