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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
May 24, 1973
Page
11
A forthcoming Senate bill revises how retailers handle price increases and notification to a tribunal. It seeks exemptions for some but risks fines up to ten thousand dollars if retailers fail to notify the tribunal and await review. The measure targets manufacturers passing higher costs to retailers and could constrain price changes for perishables and other goods.
Government debates a phasing in period for new restrictive trade practices laws and authorisations for interim or full permits. Proscribed practices may be challenged before a specialised tribunal with public scrutiny and potential private action against unlawful conduct. The bill mirrors the Industries Preservation Act but shifts to administrative decisions and broader citizen access.
The half year results show exports rising by $830.6 million while growth slows. Nick and Kirby report improved sales and a 20.4 percent rise in profit on higher sales. Directors expect higher interim dividends as imports and exports evolve with Australia and neighboring trade partners.
G and G agree to sell a business unit including Cordon and Gatch, with Lonsdale and Ply Lid in Australia named in the deal. Details of the consideration remain undisclosed.
The report notes overseas borrowing lowering to 278 million amid mixed signals from December’s policy actions. It mentions Reserve Bank influences, exchange center activity, and March projections tied to capital flows and approvals.
Australian mining firms represented by Newman Goldsworth y and Hamersley resumed talks with Nippon Steel and other Japanese mills over ore price hikes tied to the yen devaluation. They seek 18 percent increases to offset the weaker Australian dollar, warning higher import costs could push Japan’s steel industry up to 20 million yen a year in losses. Tokyo says prices could rise over 10 percent but wants to limit damage to Japan’s ore supply.
Governors General Sir Paul Haylock welcomed the Metal Trades Industry Association’s new Canberra headquarters at Standbourne Avenue costing 1280 dollars. He said the building would aid the political substructure, public opinion, and influence policy as Australia seeks unified national policies above local interests.
Market at Goulburn opened firm with strong demand for lambs and sheep though notes of weather and supply lines appeared. Prices ranged around 100 to 140 shillings for different classes, with heavy rams and ewes quoted, while buyers showed keen interest in crossbred and Merino stock.
A Canberra film row centers on a major theatre group over distribution and programming disputes. Key figures include executives from the group and local officials, with decisions pending at a city venue and potential policy implications for upcoming seasons.
Relatives and friends of the late Henry Herbert Johnson and James are notified of funeral services. Services will be held at St Baptist Church Canberra ACT with interment to follow at local cemetery. A funeral notice lists contact numbers for arrangements and associations with the Canberra area.
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