The private health insurer, Medibank Private, is being taken to the Federal Court for alleged false, misleading and deceptive advertising of its health insurance products. The Competition and Consumer Commission says despite advertising and no rate increase this year for one insurance package in the lead up to the introduction of life time cover in July the rates were actually increased. The Australian dollar continued to haemorrhage overnight. Its foreign exchange value falling to another all time low, just 51.35 US cents. The Aussie dragged lower by the Euro, the pan European currency which was touted as a rival for the American Greenback when it was launched with such optimism just over a year and a half ago.
Today is no exception.
At Drummoyne, at Sydney's inner west, according to finance sector unions, the National Australia Bank closed its 89th branch this year. Only yesterday it was number 88 at Diamond Creek in north east outer Melbourne. Today, however, in Sydney, Drummoyne customers were defiant. The Federal Government has seized on the entitlement woes being faced by Labor's Northern Territory Senator, Trish Crossin. Earlier this year the Senator's Commonwealth car was involved in a fatal car accident outside Darwin.