Cash rate kept at 2.75 per cent

THE Reserve Bank has keep the cash rate on hold for the second consecutive month, but has kept the door open for further cuts if they are needed to stimulate the economy.
Nanjing Night Net

The cash rate remained at 2.75 per cent, a 53-year low, after the last RBA cut in May.

Financial markets were pricing in a 14 per cent chance of a 25-basis-points cut today, according to Credit Suisse data.

A majority of economists had expected the central bank to stay its hand, after a sharp fall in the Australian dollar over the past few months helped to ease the pressure on export-oriented sectors of the economy.

Since the last RBA cut in May, the Australian dollar has slipped more than 10 per cent against its US counterpart, with currency strategists not expecting it to return to its above parity levels.

SMH

Moylan charged over hoax email 

ENVIRONMENTAL activist Jonathan Moylan is facing up to 10 years in jail after being charged under the Corporations Act for his January hoax email over Whitehaven Coal.
Nanjing Night Net

The charges were confirmed today by the Australian Securities and Investments Commission.

The Newcastle-based Mr Moylan put out a press release in January purporting to be from the ANZ bank saying that bank was withdrawing a $1.2 billion loan to Whitehaven for its Maules Creek mine near Narrabri.

Mr Moylan said he had been told of the charge on Thursday night and would appear in the Downing Centre Local Court in Sydney on Tuesday, July 23.

Mr Moylan said he had been charged under Section 1041E of the Corporations Act, which carried a maximum penalty of 10 years in jail and a fine of up to $495,000.

“Noone has ever been charged with this as far as my lawyers know,’ Mr Moylan told the Newcastle Herald on Tuesday.

“In plain language, it charges with me with providing false or misleading information that could induce someone to sell their shares.’’

Lock the Gate Alliance president Drew Hutton said the charges against Mr Moylan were a clear example of double standards.

He said Mr Moylan was potentially facing 10 years in jail over a protest press release while no action appears to have been taken against Whitehaven despite concerns over the accuracy of information in environmental reports compiled for Whitehaven over Maules Creek.

“We are asking ASIC to reconsider their decision and withdraw the prosecution,’’ Mr Hutton said.

“The penalty is clearly disproportionate to the offence and Mr Moylan has apologised to anyone affected by his actions.”

“Whether you agree with his actions or not, Mr Moylan’s intent was obviously just to tell the world about the plight of the people and environments at risk from this massive coalmine.”

A spokesperson for Whitehaven Coal declined to comment on the charge facing Mr Moylan but said full information about Maules Creek was available on the Whitehaven website.

JONATHAN MOYLAN

Afghani teen on detention centre hunger strike

A 16-year-old Afghani boy at the Pontville detention centre has been on a hunger strike since Friday. A refugee advocate warns more asylum seekers could join the strike.Source: The Advocate
Nanjing Night Net

More asylum seekers could join in a hunger strike at Pontville detention centre unless they are lifted from the “bureaucratic nightmare” of uncertain detention, a Tasmanian refugee advocate has said.

A 16-year-old Afghani boy at the centre has been on a hunger strike since Friday.

The boy told the ABC on Sunday he was acting in protest against being held in detention for seven months because he believed some people he travelled to Australia with had been released.

It is the first reported hunger strike at the centre and comes just two weeks after six detainees were hospitalised in a brawl over a game of pool.

That incident was just a week after a detainee and a detention centre worker were injured in another reported fight.

Tasmanian Asylum Seeker Support founder Emily Conolan said all the incidents could be traced to the uncertainty caused by longer periods in detention, after funding to community detention programs was cut.

Ms Conolan said everyone she visited at the centre said they could cope if they knew how long they would be detained for and could look to the future.

“It’s an act of desperation and a cry for help of people that feel that they have no other option to express themselves but self- harm,” she said.

A spokesman from the Department of Immigration and Citizenship said the boy was being closely monitored.

In US, cheating is not just for husbands anymore

More American women are cheating on their husbands, a new report says. Photo: John McNamaraWashington: American women, who trail men when it comes to making money, leading companies and accumulating wealth, are closing the gap on at least one measure: cheating on their spouses.
Nanjing Night Net

The percentage of wives having affairs rose almost 40 percent during the last two decades to 14.7 percent in 2010, while the number of men admitting to extramarital affairs held constant at 21 percent, according to the latest data from the National Opinion Research Centre’s General Social Survey.

The narrowing gap, reported by a sociologist at Auburn University at Montgomery, reflects multiple trends. Wives with their own jobs have less to lose economically from a divorce, and social media have made it easier to engage in affairs.

“Men are still more likely to cheat than women,” said Yanyi Djamba, director of the AUM Centre for Demographic Research. “But the gender gap is closing.”

Blacks, executives and managers, and Southerners were most likely to report extramarital affairs to the 40-year-old survey, the oldest continuous source of data on American behaivour.

The main impetus behind extramarital affairs was predictable, Professor Djamba said: One in four men described their marriages as “not very happy,” more than twice the number of wives who rationalised their adultery that way.

The survey results lend support to one researcher’s argument that what’s been presumed about female sexuality for centuries may be wrong. Daniel Bergner, the author of the newly published book What Do Women Want?, said cultural expectations have prevented women from having more affairs.

“Women are programmed to seek out one good man, and men never have been really well-suited to monogamy, right?” Mr Bergner said. An increasing body of science suggests that women’s sex drives are as powerful as men’s libidos, Mr Bergner said, though they’ve been repressed by thousands of years of male-dominated culture.

Alton Abramowitz, president of the Chicago-based American Academy of Matrimonial Lawyers, said he’s seen an increase in the number of divorce cases sparked by cheating wives.

“We always had a few cases with women, but they were much more discreet about it,” he said. “In the past 10 years or so, though, there’s been an uptick in those cases coming through our office.”

More women may feel free to cheat because the economic consequences aren’t as dire as they were when more women stayed at home, said Pepper Schwartz, a University of Washington sociologist who writes “The Naked Truth” column for AARP, the largest group representing the elderly in the US.

“They can afford the potential consequences of an affair, with higher incomes and more job prospects,” she said. “They have more economic independence and may meet a better class of mate.”

The ease of online affairs and the prevalence of computer use among younger women may be responsible for a large share of the increase, Ms Schwartz said.

“Think Ashley Madison,” she wrote, referring to the online affair-matchmaking service.

The website has grown since its 2002 creation to serve 3.5 million active users speaking nine languages in 26 countries, said Noel Biderman, the chief executive officer of Toronto-based Avid Life Media Inc., which operates Ashley Madison.

“There’s been a cultural shift,” Mr Biderman said, “and female infidelity is very linked to cultural change.”

The website’s usage patterns by age highlight the shifts, he said. The ratio of males to females is greatest among users older than 65, with 14 men for every woman. The ratio is 4-to-1 among users in their 50s, 3-to-1 for spouses in their 40s, and evenly divided among people using Ashley Madison in their 30s.

The number of female affairs still lags behind male dalliances. For every two women like actress Meg Ryan, who exchanged cheating accusations with her ex-husband Dennis Quaid, or Paula Broadwell, the biographer-turned-mistress of former CIA Director David Petraeus, there are three men like former President Bill Clinton, pro golfer Tiger Woods or onetime South Carolina governor, and now US congressman, Mark Sanford, who have been the focus of much-publicised reports of extramarital affairs.

As the nation’s median age increases, changes in attitudes about women engaging in sex with someone not their spouse may cause the gap to narrow more, Mr Bergner said.

“Once you strip away the stigma from the equation, interest in casual sex is about equal for women and men,” he said. “So we men may have a lot to worry about.”

Bloomberg

This story Administrator ready to work first appeared on Nanjing Night Net.

Newcastle and Grafton share tournament spoils

Source: The Northern Daily Leader
Nanjing Night Net

NEWCASTLE went to a one-on-one penalty shootout to win the Michael York Cup yesterday while Grafton Blue’s draw against Manning Valley was enough to secure it a Kim Small Shield when the two main divisions were decided at Tamworth’s Hockey Complex yesterday.

The Grafton side had plenty to celebrate too, with talented Grace Young also named the Kim Small Shield player of the carnival.

“We had a fantaastic weekend,” Grafton’s Kylie Winters said.

“Most of the girls in the A team had been before but for the girls in the B side it was their first time and they did extremely well to finish third.”

Sydney’s Riley Austin was named the Michael York Cup player of the carnival but his silky skills weren’t enough to secure his side a win when they drew their final nil-all with Newcastle.

Going into a thrilling one-on-one penalty shootout, it was the Novocastrians who won out, winning 4-3 with young goalkeeper Lachlan Mills making two great saves to spearhead his side’s win.

Co-coach Glenn Bisson was delighted with the efforts of a talented, young side.

“They all worked hard – all the boys played well,” Bisson said.

“We’re proud of them all. Then to win in a wobble-off was great.

“We had a couple of boys who hadn’t played before this season.

“Half the side doubled up from last year.”

Carnival convener Graeme McKenzie was delighted with the weekend.

“All went very well,” McKenzie said of a tournament that had a record 34 teams from all over the state as well as Canberra.

“We had some great feedback from coaches and managers,” he said.

Former Australian captain Michael York, whom the York Cup is named after, didn’t have a similar tournament to help launch his hockey career.

“If I had have I might have an Olympic gold medal,” he joked. “But this is all about fun and enjoyment.

“The boys and girls have fun on and off the field.

“The emphasis is on participation and enjoyment. It’s a really good atmosphere.”

While Newcastle and Grafton won the main divisions, Dubbo White won the Kim Small Shield B Division and Grafton 2s won the York Cup B Division.