S&P ratings move 'backward': ME Bank

ME Bank says a ratings agency decision to downgrade small lenders has undermined the purpose of the big banks levy.
The Turnbull government has lowered the investment target of the Future Fund to reflect changed global market conditions.

Hanson party set for annual meeting

Pauline Hanson will address the One Nation faithful at an annual meeting in August.
A Brisbane Supreme Court jury has heard utes seized during a drug raid on Ivan Tesic's Queensland home in 2014 were found to contain secret airbag compartments.
Tasmanian Treasurer Peter Gutwein has told the state's parliament his latest budget will deliver a $54 million surplus.
Dreamworld could be expanded to include a hotel, retail and hospitality space like Disneyland, the amusement park's owner Ardent Leisure says.
Labor may support the idea of a bank levy, but the prime minister has given it plenty of opportunity to doubt the impost's potential revenue-raising capability.
Police say the driver of a stolen ute is in custody after he slammed into a car carrying two men, killing them both, on the Princes Highway near Sydney Airport.

Moths unleash attack on parliament

Occupants of Parliament House in Canberra are on the alert after an infestation of casemaking moths.
The federal pesticides agency has recorded its worst ever product registration rate amid staff shortages and a spike in applications.
Labor foreign affairs spokeswoman Penny Wong has played down remarks by US senator John McCain about the rise of China.
Governor-General Peter Cosgrove has told a memorial service the callous attack on children at a Manchester concert was beyond the bounds of all humanity.
A defence expert says politicians should stop squabbling over industry jobs amid a deteriorating global outlook.
The Turnbull government says the defence force may be called on to help police respond to a terror attack, but has rejected suggestions it should take control.
A international trial has shown that a form of medicinal cannabis works to treat drug-resistant seizures in a rare yet very severe form of childhood epilepsy.
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