A group of five countries has launched its own development bank to challenge the US -dominated World Bank and International Monetary Fund. Leaders from the so-called BRICS countries - Brazil, Russia, India, China and South Africa - unveiled the New Development Bank at a summit in the Brazilian city of Fortaleza. The bank will be headquartered in Shanghai.

From Chris Floyd

The reality is that much of Australia’s corporate landscape is owned by faceless people hiding behind big nominee companies that are virtually impossible to research. The same is for global investment banks, insurance companies and the Commonwealth public servant superannuation scheme. Many companies have directors who are involved in media, banking, and politics, with many ex-politicians coming onto boards when they leave Parliament.

Nestlé’s chair has claimed that the issue of water scarcity is “much more urgent” than climate change.

It is likely that this summer (2014) is going to be a scorcher... And my advice to all the spruiking denialists who own a piece of land in the country  — like the Alan Jones — and the merchants of whatever  — like the Gerry Harveys — is to make sure you have plenty of water in reserve and an escape route... or a bunker.

Facing Senate resistance to the majority of his budget savings measures, the treasurer, Joe Hockey, said the government would have no choice but to find the savings from other programs if senators carried out threats to block large parts of the budget.

“It’s not retribution if the choices made by other political parties are so flawed,” he told the ABC. “We are not going to step away from the fact that the budget needs to be repaired.

“It is something a lot of the senators need to think carefully about … we have got to deal with reality, the budget must be repaired.”

The Palmer-Abbott double cross has shafted the Australian public. If you have one ounce of understanding how this system of deception works you would know how you've been conned..

the measure of success of a secret double-cross is not in how it's done but in the result...

The Aboriginal founder of the Deadly Awards, the annual celebration of indigenous achievement, was shattered last month when he learnt that he would lose federal funding worth hundreds of thousands of dollars.

Prime Minister Tony Abbott may be the most famous of the old alumni who will gather with Rupert Murdoch on Tuesday night to mark the 50th anniversary of The Australian.

Australia was once an outpost of “rascals and outlaws” but will soon adjust to the shifting realities of power, says a Chinese state-owned newspaper, which also has called Foreign Minister Julie Bishop a "complete fool".

from john passant ….