THE NEWS WRAP: Small businesses still baffled by the carbon tax: Survey

Small businesses continue to be baffled by the carbon tax, little over a month until it is introduced, according to a new study.

The MYOB survey found that half of SMEs were uncertain over the impact of the carbon tax on them, ahead of the $23-a-tonne impost on July 1.

Rinehart ups Fairfax stake

Gina Rinehart, Australia’s richest person, has lifted her stake in Fairfax Media and launched an attack on the performance of the company’s chairman, Roger Corbett.

Rinehart spent more than $50 million increasing her share to 13%, but the move hasn’t been enough to gain her a seat on Fairfax’s board.

Defaults expected from clean energy loans

Around 7.5% of the loans and investments made by the Federal Government under the Clean Energy Finance Corporation will not be recovered, according to Treasury officials.

However, the fund, which aims to help commercialise clean energy technology, is still predicted to provide a 4% return for the government.

Overnight

The Australian dollar was down to 98.54 US cents.