THE NEWS WRAP: Actor Paul Hogan accuses ATO of acting “like the Taliban”

Opposition leader Tony Abbott has dismissed Shadow Treasurer Joe Hockey’s call for quotas to increase the number of women on company boards.

Abbott said that Hockey was “expressing a personal view” by saying that a quota of 30% may be needed to increase the number of female directors. Hockey’s stance has been supported by governor-general Quentin Bryce, who has said that quotas would break the “old boy’s club” attitude of many Australian businesses.

Hogan attacks ‘Taliban’ ATO

Actor Paul Hogan has accused the Australian Tax Office of acting “like the Taliban”, claiming that it has shredded important documents relating to his tax dispute.

Hogan has asked his lawyers to refer senior ATO tax officers to the Director of Public Prosecutions, alleging that documents were destroyed that would’ve helped him in his $150 million tax evasion battle.

Facebook enters movie market

Following its foray into email and messaging, Facebook is now looking to enter the movie rental market.

Warner Bros will start offering selected titles through the social networking giant. Titles will cost around $US3 for a 48-hour period, with The Dark Knight being the first film available to users.

Overnight

The Dow Jones industrial average rose by 140.02 points to 12,230.05. The Australian dollar dropped to 101.01 US cents.