O76 Defence

Banks may have to spin off trading

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Original article by John Kehoe, Jonathan Shapiro
The Australian Financial Review – Page: 1 & 10 : 4-Aug-14

Opinion is divided about the merits of restructuring banks to separate their retail and commercial banking arms from divisions such as insurance and funds management. David Murray, who is chairing the Australian Government’s inquiry into the financial system, has suggested that so-called "ring-fencing" should be examined in order to protect banks that are deemed "too big to fail". Similar laws have been introduced in the US and the UK, but Australian Bankers’ Association CEO Steve Munchenberg questions whether such reforms are needed in Australia

CORPORATES
AUSTRALIAN BANKERS’ ASSOCIATION, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, GREAT BRITAIN. DEPT OF THE TREASURY, JP MORGAN AND COMPANY INCORPORATED, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD, MACQUARIE GROUP LIMITED – ASX MQG, SUNCORP GROUP LIMITED – ASX SUN, MOODY’S INVESTORS SERVICE INCORPORATED

Austal in the crossfire as big guns battle

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Original article by Paul Garvey
The Australian – Page: 19 : 11-Jul-14

There has been criticism of a US military shipbuilding program that involves Australian-listed Austal. The company has been chosen to build half of the ships for the US Navy’s $US34 billion ($A36.2 billion) littoral combat ship program. However, concerns have been raised about the program by senior figures in the US Government. Austal CEO Andrew Bellamy is confident about the program, which will supply between 50 per cent and 60 per cent of the company’s future work

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AUSTAL LIMITED – ASX ASB, UNITED STATES. DEPT OF DEFENSE, REPUBLICAN PARTY (UNITED STATES), UNITED STATES NAVY, LOCKHEED MARTIN CORPORATION

Defence pact to lead way for joint submarine venture

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Original article by Brendan Nicholson
The Australian – Page: 1 : 7-Jul-14

Australian Prime Minister Tony Abbott and Japanese counterpart Shinzo Abe will in the week starting 7 July 2014 sign a new defence treaty. One of the results may be a joint program for the construction of advanced submarines. The US Government is believed to be strongly in favour of Australia collaborating with Japan in this area. The closer military ties are being flanked by a new Economic Partnership Agreement between the two nations, and both deals may cause friction with the Chinese Government

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET. OFFICE OF NATIONAL SECURITY, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED

Japan visit will mark new era

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The Australian Financial Review – Page: 5 : 2-Jul-14

Japanese Prime Minister Shinzo Abe will visit Australia and hold talks with Prime Minister Tony Abbott on 8 July 2014. During the official visit a new free trade agreement will be ratified that had been finalised in April. There will also be closer military ties between the two nations, including a deal to share defence technology. Abe will travel on to look at iron ore mining operations in the Pilbara region of Western Australia. The last Japanese prime minister to come to Australia had been Junichiro Koizumi in 2002

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET. OFFICE OF NATIONAL SECURITY, EAST ASIAN SUMMIT, ASIA-PACIFIC ECONOMIC CO-OPERATION, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF DEFENCE. DEFENCE SCIENCE AND TECHNOLOGY ORGANISATION, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Australian jihadists can’t be barred from returning home

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Original article by David Wroe, Mark Kenny
The Age – Page: 11 : 25-Jun-14

A legal hurdle has emerged to the plan of the Australian Government to prevent any citizens who have fought with Jihadist terrorist groups oversees from returning home. Immigration Minister Scott Morrison has conceded that the majority of the current 150 or so cases do not involve people with dual nationality. They therefore cannot simply be left stateless by revoking their Australian citizenship. Meanwhile Foreign Minister Julie Bishop has foreshadowed new counter-terrorism laws that will boost the powers of the Australian Secret Intelligence Service

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AUSTRALIAN SECRET INTELLIGENCE SERVICE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. INDEPENDENT NATIONAL SECURITY LEGISLATION MONITOR

Business under cyber siege

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Original article by John Kerin
The Australian Financial Review – Page: 3 : 20-Jun-14

The number of cyber attacks on Australian government agencies and private businesses by foreign hackers rose 21 per cent in 2013. Australian Signals Directorate assistant secretary Joe Franzi told a conference on 19 June 2014 that half of these attacks involved foreign governments. He expects even more cyber attacks to occur in 2014

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AUSTRALIAN SIGNALS DIRECTORATE, ASSOCIATION OF SOUTH-EAST ASIAN NATIONS