Automakers plead for help- markets fear sectors collapse
WASHINGTON AFP - US and European automakers- warning that their industry was now imperiled by the global economic meltdown- appealed for government help and sparked sharp falls on jittery stock markets Wednesday. ...
Wed 19th November 2008 - 11:57pm
Toyota to shut US- Canada plants for two days next month
TOKYO AFP - Toyota Motor Corp. will shut down production at all of its US and Canadian plants for two days next month due to sluggish sales- a spokeswoman said Wednesday. ...
Wed 19th November 2008 - 11:34pm
ECB releases details of money market dollar lending
FRANKFURT AFP - The European Central Bank published on Tuesday details of its latest operations to boost interbank lending on eurozone money markets. ...
Wed 19th November 2008 - 11:30pm
House prices shouldn't crash- RBA chief
Australia's house prices will soften but should not crash because of the world economic crisis- Reserve Bank governor Glenn Stevens says. ...
Wed 19th November 2008 - 10:57pm
Dollar steadies against euro before US inflation data
LONDON AFP - The dollar held steady against the euro but dipped against the yen on Wednesday- as dealers awaited key US inflation data amid growing concerns about the countrys struggling auto industry. ...
Wed 19th November 2008 - 10:50pm
Oil prices drop close to 50 dollars
LONDON AFP - Oil prices dropped on Wednesday- with Brent crude falling close to 50 dollars a barrel- as demand for energy weakens worldwide and as the market awaits data on the health of US crude stockpiles. ...
Wed 19th November 2008 - 10:47pm
China food- drug inspection transparency improving- FDA
United States officials say Chinas food and drug inspection transparency is improving. ...
Wed 19th November 2008 - 10:40pm
Volvo cuts 130 jobs in Brisbane
Volvo has cut 130 jobs at its Brisbane commercial vehicles factory- the Australian Manufacturing Workers Union AMWU says. ...
Wed 19th November 2008 - 10:32pm
Mulesing vote could change face of Aust wool industry
A national vote by wool producers is shaping up to be one of the most important elections in the history of the wool industry. ...
Wed 19th November 2008 - 09:48pm
World stocks slip as auto crisis deepens
Global stock markets stumbled on Wednesday as fears mounted of a collapse of the huge US automobile industry- a key pillar of the United States economy. ...
Wed 19th November 2008 - 09:35pm
Bank of England unanimous in slashing interest rates- minutes
LONDON AFP - Bank of England policymakers voted 9-0 to slash interest rates by a third to 3. ...
Wed 19th November 2008 - 09:35pm
Not our job to police payment spending- Centrelink GM
Centrelink general manager Hank Jongen has addressed concerns that payments made under the Federal Governments economic stimulus will be spent inappropriately. ...
Wed 19th November 2008 - 08:50pm
RBA says Australia able to tackle crisis
Reserve Bank of Australia governor Glenn Stevens says the nation has ample scope to tackle the difficult global downturn and support growth. ...
Wed 19th November 2008 - 08:43pm
Volvo cuts 130 jobs at Brisbane factory
One-hundred-and-thirty workers at the Brisbane factory of Volvo Commercial Vehicles Australia have been told they will lose their jobs the week before Christmas. ...
Wed 19th November 2008 - 08:24pm
Govt says infrastructure funding based on objective criteria
The Federal Government says the infrastructure funding for councils was calculated using the same independent process as the previous government. ...
Wed 19th November 2008 - 07:52pm
Vic Govts industry package strikes a balance
The Victorian Government says the states manufacturing and service industries will benefit from a new $245 million assistance package. ...
Wed 19th November 2008 - 07:39pm
Govt says infrastructure funding based on objective criteria
The Federal Government says the infrastructure funding for councils was calculated using the same independent process as the previous government. ...
Wed 19th November 2008 - 07:32pm
China in September becomes largest holder of US treasuries
WASHINGTON AFP - China in September became the largest foreign holder of US treasuries ahead of Japan- the US Treasury Department reported in figures released Tuesday. ...
Wed 19th November 2008 - 07:31pm
Automakers plead for funds to avoid collapse of US economy
WASHINGTON AFP - US automakers return to Capitol Hill Wednesday hat in hand a day after warning lawmakers that the economy faced a -amp quotcatastrophic collapse -amp quot if the government does not come through with 25 billion dollars in loans needed to keep their businesses afloat. ...
Wed 19th November 2008 - 07:28pm
Graincorp records FY08 profit loss
Graincorp Ltd has posted an annual loss of almost $20 million for the second consecutive year but says it will return to profitability in fiscal 2009. ...
Wed 19th November 2008 - 07:28pm
Xenophon wants GroceryChoice website overhaul
Independent Senator Nick Xenophon will push the Government to overhaul its watchdog website for grocery prices. ...
Wed 19th November 2008 - 07:26pm
Russia investigates financial crisis reporting- report
MOSCOW- AFP - Prosecutors are launching inquiries across Russia against media reporting on the financial crisis in a bid to stem growing concern about its impact- the Kommersant newspaper reported on Wednesday. ...
Wed 19th November 2008 - 07:17pm
Economy cushioned but recession likely
New data suggests there is a great risk Australia will follow the world's leading economies into recession in the first six months of next year. ...
Wed 19th November 2008 - 07:15pm
Asia-Pacific leaders meet for free-trade appeal
LIMA AFP - Top officials from across the Pacific rim were set to open talks here Wednesday on the global economic crisis and to issue a joint appeal against protectionism. ...
Wed 19th November 2008 - 07:10pm
Australias recession risk growing- survey indicates
SYDNEY AFP - Australia is at increasing risk of following other major economies into recession in 2009- a survey released by the Westpac-Melbourne Institute indicated Wednesday. ...
Wed 19th November 2008 - 06:50pm
Volvo cuts 130 jobs at Brisbane factory
The production arm of Volvo Commercial Vehicles Australia has announced it will lay-off 130 workers in Brisbane. ...
Wed 19th November 2008 - 06:48pm
Shipping firm- airline lay off staff in global downturn
SINGAPORE AFP - The global economic slowdown hit transport firms on Wednesday- forcing Neptune Orient Lines NOL to cut about 1-000 jobs and Air New Zealand to eliminate 200- the companies said. ...
Wed 19th November 2008 - 06:44pm
Gunns says Bell Bay pulp mill still on
Gunns Ltd has scoffed at suggestions its controversial proposed Bell Bay pulp mill in Tasmania has collapsed. ...
Wed 19th November 2008 - 06:35pm
Timber bail out package rejected
The Tasmanian Government has rejected calls for a multi-million dollar bail out package for struggling timber workers. ...
Wed 19th November 2008 - 06:33pm
Interest margin 'key for regional banks'
Shrinking interest margins and minimising bad debts are the key challenges facing regional banks in fiscal 2009- according to KPMG. ...
Wed 19th November 2008 - 06:32pm
Graincorp records FY08 profit loss
Graincorp Ltd has posted an annual loss of almost $20 million for the second consecutive year but says it will return to profitability in fiscal 2009. ...
Wed 19th November 2008 - 06:29pm
Wind farms shake up electricity market
Coal provides the bulk of Australia's electricity- but research released on Wednesday points to a massive surge in power from wind and natural gas. ...
Wed 19th November 2008 - 06:28pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 06:20pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 06:19pm
Centrelink weathering financial storm- says GM
Centrelinks general manager says there is no evidence that the welfare agency is struggling under the burden of the global economic crisis- and that it is financially sound. ...
Wed 19th November 2008 - 06:15pm
Economy cushioned- but recession likely
New data suggests there is a great risk Australia will follow the world's leading economies into recession in the first six months of next year. ...
Wed 19th November 2008 - 05:54pm
Package cushions blow- RBA official
A Reserve Bank of Australia official says the national economy should be cushioned from the crisis even though domestic growth is forecast to fall in 2009. ...
Wed 19th November 2008 - 05:52pm
Report backs Victor shopping plan
A report has backed plans for a big new shopping centre proposed at Victor Harbor. ...
Wed 19th November 2008 - 05:46pm
$13b in lost superannuation accounts
The Federal Government says there is an extraordinary amount of money in unclaimed superannuation. ...
Wed 19th November 2008 - 05:41pm
St Vinnies says more help needed
The St Vincent de Paul Society says it is receiving more calls for help as job losses increase in the wake of the economic downturn. ...
Wed 19th November 2008 - 05:37pm
Report backs Victor shopping plan
A report has backed plans for a big new shopping centre proposed at Victor Harbor. ...
Wed 19th November 2008 - 05:25pm
Macarthur Coal bracing for down impact
Queensland coal miner Macarthur Coal Ltd says the fall in world steel production is likely to impact demand for raw materials for the next few months. ...
Wed 19th November 2008 - 05:22pm
REX 'well prepared for financial crisis'
REX says the airline is well prepared to weather the global economic downturn after delivering a dip in profit for the first quarter. ...
Wed 19th November 2008 - 05:20pm
Wind farms shake up electricity market
Coal provides the bulk of Australia's electricity- but research released on Wednesday points to a massive surge in power from wind and natural gas. ...
Wed 19th November 2008 - 05:20pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 05:18pm
IOOF keeps mum on investment returns
Wealth manager IOOF Holdings Ltd has refused to join competitors in disclosing current investment returns . ...
Wed 19th November 2008 - 05:17pm
Govt flags changes to grocery price site
The Rudd government appears ready to make changes to its GROCERYchoice website- just three months after its launch. ...
Wed 19th November 2008 - 05:15pm
Aussie stocks extend losing run- short sales resume
SYDNEY- Nov 19 - Australian shares fell 0.7 percent on Wednesday to a fresh four-year closing low as the resumption of short selling in non-financial stocks triggered falls in some companies which had outperformed in the recent sharp downturn. ...
Wed 19th November 2008 - 05:11pm
Opposition wants infrastructure funds allocation transparency
The Federal Opposition is demanding the Government reveal the formula used to allocate money to councils for infrastructure spending. ...
Wed 19th November 2008 - 04:58pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 04:53pm
Latest childcare centre closures not beginning of domino effect
Education Minister Julia Gillard has moved to reassure parents of children at CFK childcare centres that the Federal Government is in urgent discussions with the companys administrator. ...
Wed 19th November 2008 - 04:52pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 04:49pm
Opposition wants infrastructure funds allocation transparency
The Federal Opposition is demanding the Government reveal the formula used to allocate money to councils for infrastructure spending. ...
Wed 19th November 2008 - 04:37pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 04:24pm
Car sales drop a further blow for industry
Former managing director of Mitsubishi Australia- Graham Spurling- says a 10 per cent drop in new car sales is more bad news for the industry. ...
Wed 19th November 2008 - 04:22pm
Australia stocks drop as short selling returns
SYDNEY- Nov 19 - Australian shares fell 0.7 percent on Wednesday- its fourth straight lower close- as the resumption of short selling in non-financial stocks triggered falls in some companies which had outperformed in the recent sharp downturn. The benchmark S -amp ampP-ASX 200 index JO lost 23.6 points to 3-499.6- based on the latest available data- a fresh four-year closing low and adding to a 3.6 percent slide on Tuesday. Reporting by Mette Fraende ...
Wed 19th November 2008 - 04:18pm
Aussie dollar struggles- bonds gain on growth gloom
RBA says economy to slow sharply despite past stimulus ...
Wed 19th November 2008 - 04:16pm
Latest childcare centre closures not beginning of domino effect
Education Minister Julia Gillard has moved to reassure parents of children at CFK childcare centres that the Federal Government is in urgent discussions with the companys administrator. ...
Wed 19th November 2008 - 04:13pm
Nissan expects zero second-half profits- CEO
TOKYO AFP - Nissan Motor Co. expects -amp quotzero -amp quot profits in the second half of this financial year as the global economic crisis deepens- its chief executive Carlos Ghosn said in an interview published Wednesday. ...
Wed 19th November 2008 - 03:55pm
Govt flags changes to grocery price site
The Rudd government appears ready to make changes to its GROCERYchoice website- just three months after its launch. ...
Wed 19th November 2008 - 03:54pm
China in September becomes largest holder of US treasuries
WASHINGTON AFP - China in September became the largest foreign holder of US treasuries ahead of Japan- the US Treasury Department reported in figures released Tuesday. ...
Wed 19th November 2008 - 03:48pm
Inflation falls as UK falls into recession
Inflation in Britain has fallen for the first time in 15 months as the economy plunges into recession. ...
Wed 19th November 2008 - 03:41pm
Govt examining margin lending by bosses
The Rudd government is examining certain sharemarket practices as a result of the volatility in financial markets- such as margin lending by corporate bosses. ...
Wed 19th November 2008 - 03:38pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 03:37pm
Incitec predicts more fertiliser demand
Australia's largest fertiliser maker Incitec Pivot Ltd is poised for earnings growth as the domestic agriculture industry reaps benefits from a lower dollar. ...
Wed 19th November 2008 - 03:36pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 03:35pm
Govt to crack down on financial rumour spreaders
The Federal Government is trying to crack down on people deliberately spreading false rumours about companies with the aim of driving down their share price. ...
Wed 19th November 2008 - 03:33pm
Govt to crack down on financial rumour spreaders
The Federal Government is trying to crack down on people deliberately spreading false rumours about companies with the aim of driving down their share price. ...
Wed 19th November 2008 - 03:31pm
Babcock and Brown to cut 850 jobs
Troubled investment bank Babcock and Brown plans to cut about 850 jobs as it seeks to pay off debt. ...
Wed 19th November 2008 - 03:27pm
AWB reports massive increase in profit
AWB has more than doubled its annual profit- benefiting from strong demand for fertiliser- seeds and farm chemicals as the drought eased. ...
Wed 19th November 2008 - 03:24pm
Package cushions blow- RBA official
A Reserve Bank of Australia official says the national economy should be cushioned from the crisis even though domestic growth is forecast to fall in 2009. ...
Wed 19th November 2008 - 03:23pm
Automakers plead for funds to prevent collapse of US economy
WASHINGTON AFP - Automakers warned lawmakers Tuesday that the US economy faces a -amp quotcatastrophic collapse -amp quot if the government does not come through with 25 billion dollars in loans needed to keep their businesses afloat. ...
Wed 19th November 2008 - 03:18pm
Taxi fares going up
Taxi fares in Victoria are set to rise by six per cent. ...
Wed 19th November 2008 - 03:18pm
Gunns says Bell Bay pulp mill still on
Gunns Ltd's shares dived on Wednesday after former Tasmanian premier Paul Lennon said the controversial pulp mill project he supported appeared dead. ...
Wed 19th November 2008 - 03:17pm
Victor shopping plan made major project
A big shopping centre proposed at Victor Harbor has been given major project status- meaning it will be assessed by the South Australian Cabinet rather than the local council. ...
Wed 19th November 2008 - 03:17pm
Australian stocks fall 0.8 pct banks gain
SYDNEY- Nov 19 - Australian shares fell 0.8 percent on Wednesday as the resumption of short selling in non-financial stocks triggered falls in companies such as Woolworths Ltd WOW- which had outperformed in the recent sharp downturn. ...
Wed 19th November 2008 - 03:16pm
NZ dollar soft as stocks struggle- bonds firm
WELLINGTON- Nov 19 - The New Zealand dollar NZD steadied just off three-week lows on Wednesday- but sentiment remained weak as Asian stocks edged lower and investors showed little enthusiasm for riskier assets. ...
Wed 19th November 2008 - 03:10pm
Three hurt in chopper crash
Three men have been injured when a helicopter hit powerlines and plunged to the ground near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 02:55pm
Wilson chair sees big buying opportunity
The chairman of listed stock market investor Wilson Investment Fund says the current market climate will provide the biggest buying opportunity in his lifetime. ...
Wed 19th November 2008 - 02:52pm
Party politics undermine German economic defences
BERLIN AFP - Just as Germany comes under pressure to do more to jumpstart the worlds third biggest economy- party politics is rearing its ugly head and undermining Berlins efforts to weather a sharp global slowdown. ...
Wed 19th November 2008 - 02:41pm
Wilson chair sees big buying opportunity
The chairman of listed stock market investor Wilson Investment Fund says the current market climate will provide the biggest buying opportunity in his lifetime. ...
Wed 19th November 2008 - 02:40pm
ConnectEast bid to raise $350m in equity
Melbourne toll road company ConnectEast Group is seeking to raise over $350 million in equity- a media report said on Wednesday. ...
Wed 19th November 2008 - 02:38pm
Australian stocks fall 1.4 pct Gunns down
SYDNEY- Nov 19 - Australian shares fell 1.4 percent on Wednesday as the resumption of short selling in non-financial stocks triggered falls in companies such as Woolworths Ltd WOW- which had outperformed in the recent sharp downturn. ...
Wed 19th November 2008 - 02:38pm
Babcock and Brown to cut 850 jobs
Troubled investment bank Babcock and Brown plans to cut about 850 jobs as it seeks to pay off debt. ...
Wed 19th November 2008 - 02:34pm
Union concerned about safety at NT substations
The Northern Territory branch of the Electrical Trades Union says it has safety concerns about 16 Power and Water substations. ...
Wed 19th November 2008 - 02:32pm
Three hurt in chopper crash
Three men have been injured when a helicopter crashed into powerlines near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 02:30pm
Aussie recession looms in 2009- report
Australia risks sinking into recession early next year after a -amp quotvery disturbing -amp quot slide in expectation for economic growth- a report shows. ...
Wed 19th November 2008 - 02:27pm
ICAC uncovers more RailCorp corruption
The Independent Commission Against Corruption ICAC has made 41 findings against another 11 people- as it finalises its investigation into fraud and bribery at RailCorp. ...
Wed 19th November 2008 - 02:22pm
OZ Minerals shares dip on profit warning
Australia's third largest diversified miner OZ Minerals Ltd has responded to a query from the Australian stock exchange with a profit warning. ...
Wed 19th November 2008 - 02:18pm
Short selling pushes market lower
Australian shares have fallen nearly 2 per cent after the lifting of a ban on short selling in non-financial stocks. ...
Wed 19th November 2008 - 02:13pm
Air New Zealand axes 200 full time jobs
NZPA Air New Zealand is cutting 200 full time jobs in a bid to save in excess of $NZ20 million $A16.98 million a year. ...
Wed 19th November 2008 - 01:58pm
Gunns denies pulp mill shelved
The timber company Gunns has dismissed a comment by the former Tasmanian Premier- Paul Lennon- that its pulp mill project is on hold. ...
Wed 19th November 2008 - 01:54pm
US sees long road to recovery as economic gloom spreads
WASHINGTON AFP - The US Treasury has said it would take time for the worlds largest economy to begin to recover despite a massive financial bailout- amid growing fears of a global recession. ...
Wed 19th November 2008 - 01:52pm
Wilson chair sees big buying opportunity
Wilson Investment Fund Ltd says the current market climate will provide the biggest buying opportunity in his lifetime. ...
Wed 19th November 2008 - 01:51pm
AED looking at acquisition opportunities
Crude oil producer AED Oil Ltd says the company is looking at a number of potential acquisition opportunities throughout Australia. ...
Wed 19th November 2008 - 01:48pm
US sees long road to financial recovery
The US Treasury says it will take time for the economy to begin to recover despite a massive financial bailout- amid growing fears of a global recession. ...
Wed 19th November 2008 - 01:48pm
Gunns denies pulp mill shelved
The timber company Gunns has dismissed a comment by the former Tasmanian Premier- Paul Lennon- that its pulp mill project is on hold. ...
Wed 19th November 2008 - 01:43pm
Australian stocks fall as short-sale ban lifted
SYDNEY- Nov 19 - Australian shares fell 1.5 percent on Wednesday as the resumption of short selling in non-financial stocks triggered falls in companies such as Woolworths Ltd WOW- which had outperformed in the recent sharp downturn. ...
Wed 19th November 2008 - 01:37pm
Three hurt in chopper crash
Three men have been injured when a helicopter crashed into powerlines near Murray Bridge in South Australia. ...
Wed 19th November 2008 - 01:33pm
Tourism group fears snorkel death impact
Investigations will continue today into why a tourist died after a snorkelling trip in the Whitsundays off the north Queensland coast. ...
Wed 19th November 2008 - 01:29pm
Short selling ban lift has little effect- stockbrokers
Stockbrokers say a lifting of the ban on short selling non-financial stocks has had little effect on the local share market today. ...
Wed 19th November 2008 - 01:23pm
Report reveals infrastructure projects suffering
As the Federal Government starts to roll out its strategy of infrastructure spending for local councils- a new report is warning of budget blowouts- delays and disputes on projects that are not properly planned. ...
Wed 19th November 2008 - 01:12pm
ConnectEast request trading halt
Melbourne toll road company ConnectEast Group has requested a trading halt on its securities after the stock fell 4.26 per cent earlier on Wednesday. ...
Wed 19th November 2008 - 12:58pm
Australia film tipped to boost outback tourism
Outback Queensland tourism operators say they are expecting a big rise in visitor numbers as a result of the film Australia. ...
Wed 19th November 2008 - 12:49pm
Community banks consider going into childcare
Some of the Bendigo Banks community bank branches are considering operating some of the ABC Learning childcare centres. ...
Wed 19th November 2008 - 12:40pm
Gunns shares dive
Shares in Tasmanian timber company Gunns have plunged more than 20 per cent to just 85 cents in morning trade. ...
Wed 19th November 2008 - 12:25pm
Boom in mining- energy exploration
Australia's mining and energy industries continue to boom but it's too early to tell what impact the global financial crisis might have on the resources sector. ...
Wed 19th November 2008 - 12:20pm
Australian Market Report of November 19- Fall Before Short-Selling Ban Ends
Sydney- Australia- Nov 19- 2008 - ABN Newswire - US stocks surged in late trading with a rare positive result from computer maker Hewlett-Packard amid economic concerns.Yesterday the Australian share market closed 3.5 per cent down at fresh four-year lows- largely dragged down by banks and miners- wiping A $34 billion from the value of the market. The benchmark S -amp ampP-ASX200 index was 129.8 points- or 3.55 per cent lower at 3523. ...
Wed 19th November 2008 - 12:15pm
Vic Govt unveils manufacturing plan
The Victorian Government has released its long awaited manufacturing and services statement- which promises to help both sectors try to stay competitive. ...
Wed 19th November 2008 - 11:58am
Death of no-deposit loans signals end of easy lending
In a sign that credit rationing is now hitting Australian consumers- the Commonwealth Bank has stopped offering no deposit loans. ...
Wed 19th November 2008 - 11:42am
REX 'well prepared for financial crisis'
REX says the airline is well prepared to weather the global economic downturn after delivering a dip in profit for the first quarter. ...
Wed 19th November 2008 - 11:41am
Macarthur Coal bracing for down impact
Queensland coal miner Macarthur Coal Ltd says the fall in world steel production is likely to impact demand for raw materials for the next few months. ...
Wed 19th November 2008 - 11:40am
Economic growth rate down
A survey has found that the pace of economic activity fell sharply in September. ...
Wed 19th November 2008 - 11:39am
Aussie stocks drop as short selling resumes
SYDNEY- Nov 19 - Australian shares fell 0.5 percent on Wednesday as the resumption of short selling in non-financial stocks triggered falls in companies such as Woolworths Ltd WOW which had outperformed in the recent sharp downturn. ...
Wed 19th November 2008 - 11:36am
US sees long road to financial recovery
The US Treasury says it will take time for the world's largest economy to begin to recover- despite the bailout amid growing fears of a global recession. ...
Wed 19th November 2008 - 11:30am
Gunns shares dive 15pc
Shares in Tasmanian timber company Gunns have plunged more than 15 per cent in early trade despite a general rise in the stock market. ...
Wed 19th November 2008 - 11:26am
Tourist seriously injured in Litchfield car crash
An elderly tourist is in a serious condition with head injuries at the Royal Darwin Hospital after a single vehicle roll over in Litchfield National Park yesterday afternoon. ...
Wed 19th November 2008 - 11:13am
Gunns shares dive 15pc
Shares in Tasmanian timber company Gunns have plunged more than 15 per cent in early trade despite a general rise in the stock market. ...
Wed 19th November 2008 - 11:12am
Wage dispute- NSW teachers continue fight
Thousands of state school and TAFE teachers across New South Wales have walked off the job for two hours to protest against the State Governments latest pay offer. ...
Wed 19th November 2008 - 10:53am
Call for admission fee to 12 Apostles
Tourism operators are pushing for an admission fee to be charged at one of Victorias best known natural attractions. ...
Wed 19th November 2008 - 10:50am
Dollar edges up against euro in nervous market
NEW YORK AFP - The dollar edged higher against the euro Tuesday- despite a record plunge in US wholesale prices- in a market wracked by economic worries. ...
Wed 19th November 2008 - 10:44am
US car giants on brink of disaster
Americas three biggest car makers say the industry is teetering on the brink of disaster and desperately needs a multi-billion dollar loan from the US Government. ...
Wed 19th November 2008 - 10:40am
Westpac report spells more economic woes
Australia's projected economic growth pace has suffered the biggest monthly slump since the mid-1980s- a report shows. ...
Wed 19th November 2008 - 10:39am
Govt should be defending Joint Strike Fighters- Opposition
The Federal Opposition has demanded the Government release its air combat review to clarify whether the F-35 Joint Strike Fighter JSF is the best jet for the Australian Air Force. ...
Wed 19th November 2008 - 10:39am
Paulson questioned on bailout backflip
US Treasury Secretary Henry Paulson has been grilled by Congress about his handling of a $US700 billion financial rescue package. ...
Wed 19th November 2008 - 10:29am
B -amp B will become 'specialist business'
Babcock -amp Brown Ltd B -amp B says it will remake itself into a specialist infrastructure business- following a strategic review of its operations. ...
Wed 19th November 2008 - 10:23am
Aussie stocks rise as financials gain CSR drops
SYDNEY- Nov 19 - Australian shares rose 1.2 percent on Wednesday as financial stocks such as Macquarie Group Ltd MQG gained- helped by a late rally on Wall Street. ...
Wed 19th November 2008 - 10:14am
Vic Govt unveils manufacturing plan
The Victorian Government will spend $245-million to help keep the states manufacturing and service sectors competitive. ...
Wed 19th November 2008 - 10:13am
B -amp B says to become specialist business
Babcock -amp Brown Ltd B -amp B says it will remake itself into a specialist infrastructure business- following a strategic review of its operations. ...
Wed 19th November 2008 - 09:56am
US- Japan see no quick end to crisis
The US Treasury has warned a boost to the economy will not come quickly despite a massive bailout. ...
Wed 19th November 2008 - 09:49am
World freight prices collapse in crisis
Freight shipping prices for transporting dry raw materials collapsed in November- slammed by the global financial crisis- experts say. ...
Wed 19th November 2008 - 09:47am
US sees long road to recovery as economic gloom spreads
WASHINGTON AFP - The US Treasury said on Tuesday it would take time for the worlds largest economy to begin to recover despite a massive financial bailout amid growing fears of a global recession. ...
Wed 19th November 2008 - 09:44am
Russian growth to plunge- World Bank
Years of stellar Russian economic growth have come to an abrupt halt as the global financial crisis bites- the World Bank says. ...
Wed 19th November 2008 - 09:39am
Benitec Limited ASX-BLT Chairmans Address To Shareholders
Melbourne- Australia- Nov 19- 2008 - ABN Newswire - This again has been a challenging but significant year for Benitec. The past year has continued the major rebuilding of the Company.We have successfully strengthened the Benitec team during the past year. Our CEO Sue MacLeman was appointed a Director of the Company and Mel Bridges joined the Board as a Non-Executive Director. We also appointed Dr Jason Smythe as Chief Scientific Officer. ...
Wed 19th November 2008 - 09:39am
Benitec Limited ASX-BLT Chairmans Address To Shareholders
Melbourne- Australia- Nov 19- 2008 - ABN Newswire - This again has been a challenging but significant year for Benitec. The past year has continued the major rebuilding of the Company.We have successfully strengthened the Benitec team during the past year. Our CEO Sue MacLeman was appointed a Director of the Company and Mel Bridges joined the Board as a Non-Executive Director. We also appointed Dr Jason Smythe as Chief Scientific Officer. ...
Wed 19th November 2008 - 09:38am
Barclays bosses renounce bonuses
Britains second largest bank Barclays has announced that none of its executive directors will accept bonuses this year. ...
Wed 19th November 2008 - 09:35am
Crisis 'could mean bargains for China'
Chinese companies are shopping for companies in Europe and around the world- undeterred by the global financial crisis. In fact- they are hunting for bargains. ...
Wed 19th November 2008 - 09:33am
Boost for Qld mining with Chinese investment
A Chinese mining company has confirmed it still wants to establish a coal mine in central Queensland despite the current world financial problems. ...
Wed 19th November 2008 - 09:32am
Armed guards not the answer to pirate threat- expert
An international shipping expert has warned against US calls for armed guards to be posted on merchant ships threatened by pirate attacks in waters off the Horn of Africa. ...
Wed 19th November 2008 - 09:31am
Aussie dlr finds support- but mood still bearish
SYDNEY- Nov 19 - The Australian dollar was holding relatively steady on Wednesday after a choppy offshore session saw it bounce as U.S. stocks rallied- and investors awaited speeches from the central bank later in the day. ...
Wed 19th November 2008 - 09:19am
CSR raises $315 million to reduce debt
Building materials supplier and sugar producer CSR Limited has raised $315 million from institutional investors- to be used to reduce debt. ...
Wed 19th November 2008 - 09:17am
AWB reports massive increase in profit
Wheat exporter AWB Ltd has reported a 137 per cent increase in profit for fiscal 2008- saying the result leaves it well positioned for future growth. ...
Wed 19th November 2008 - 09:16am
Mine suspends operations amid global credit woes
The Tablelands Regional Council in far north Queensland says it is shocked to hear a mine west of Mareeba has been shutdown with 26 workers laid off. ...
Wed 19th November 2008 - 09:16am
Oil prices fall under weight of crisis
Oil prices fell in a market worried over the slowing global economy and its negative impact on energy demand. ...
Wed 19th November 2008 - 08:58am
Aussie shares seen choppy as short selling resumes
The Australian securities regulator had imposed a complete ban on all forms of short selling last month to curb excessive market volatility in the wake of global credit crisis. ...
Wed 19th November 2008 - 08:58am
Republicans reluctant to bail out cars
US Senate Republicans expressed reluctance to authorise a new round of $US25 billion $A38.49 billion for the troubled US auto sector. ...
Wed 19th November 2008 - 08:56am
Wage dispute- NSW teachers continue fight
Thousands of state school and TAFE teachers across New South Wales have walked off the job for two hours to protest against the State Governments latest pay offer. ...
Wed 19th November 2008 - 08:50am
Oil prices fall under weight of slowing global economy
NEW YORK AFP - Oil prices fell Tuesday in a market awash in worries over the slowing global economy and its negative impact on energy demand. ...
Wed 19th November 2008 - 08:47am
Stocks up as Wall St seesaws
US stocks have staged a late rally after a volatile session on Wall Street. ...
Wed 19th November 2008 - 08:47am
Stocks up as Wall St seesaws
US stocks have staged a late rally after a volatile session on Wall Street. ...
Wed 19th November 2008 - 08:46am
India sees growth accelerating next year
India insists its economy will rebound next year from the global financial crisis- saying it expects to return to robust growth of nine per cent. ...
Wed 19th November 2008 - 08:45am
Paulson rules out using US financial aid to help economy
WASHINGTON AFP - Treasury Secretary Henry Paulson Tuesday defended a massive financial rescue in the face of criticism from lawmakers and a top US official wanting to use it to shore up the battered economy. ...
Wed 19th November 2008 - 07:56am
Berlusconi says Lufthansa offers advantages to Alitalia
TRIESTE- Italy AFP - Rome will look -amp quotvery favourably -amp quot on a mooted collaboration between stricken Italian carrier Alitalia and German airline Lufthansa- Italian Prime Minister Silvio Berlusconi said Tuesday. ...
Wed 19th November 2008 - 07:51am
ECB chief says no signs yet of eurozone deflation
LONDON AFP - The head of the European Central Bank- Jean-Claude Trichet- said Tuesday that he had not yet seen deflation trends in the eurozone- which has taken a hit from the global financial crisis. ...
Wed 19th November 2008 - 07:49am
Components suppliers expecting shutdown
Car component suppliers expect they will be forced to shut down over the new year- while the Holden plant in Adelaide closes for five weeks. ...
Wed 19th November 2008 - 07:43am
Components suppliers expecting shutdown
Car component suppliers expect they will be forced to shut down over the new year- while the Holden plant in Adelaide closes for five weeks. ...
Wed 19th November 2008 - 07:30am
Short-selling ban expected to be lifted
A ban on the short selling of non-financial stocks is expected to be lifted today. ...
Wed 19th November 2008 - 07:24am
CFK Childcare enters administration
Another childcare centre operator has gone into voluntary administration. ...
Wed 19th November 2008 - 07:22am
Financial rescue package 'not a panacea'
The $US700 billion $A1.08 trillion financial bailout program is -amp quotnot a panacea -amp quot to cure economic woes- US Treasury Secretary Henry Paulson says. ...
Wed 19th November 2008 - 07:10am
Belgian court rejects bid to suspend BNP Paribas buyout of Fortis
BRUSSELS AFP - A Belgian court on Tuesday rejected a bid by Fortis shareholders to suspend the sale of the banks Belgian activities to BNP Paribas- while ordering an enquiry into whether the sale price was high enough. ...
Wed 19th November 2008 - 05:44am
Dollar slips on weak data
LONDON AFP - The dollar slipped on Tuesday against the euro- erasing earlier gains due to weak US pricing data- but the chairman of the US Federal Reserve insisted the US remained the premier world currency. ...
Wed 19th November 2008 - 05:20am
Oil prices firm as CGES forecasts historic demand contraction
LONDON AFP - Oil prices held firm on Tuesday as the Centre for Global Energy Studies CGES forecast a contraction in global demand for the first time in 25 years amid a severe global economic slowdown. ...
Wed 19th November 2008 - 05:10am
Paulson rules out using US financial aid to help economy
WASHINGTON AFP - US Treasury Secretary Henry Paulson Tuesday ruled out using the 700-billion dollar financial bailout to shore up the battered economy- amid distress calls for help from the ailing auto industry. ...
Wed 19th November 2008 - 04:52am
Brewer InBev completes takeover of Anheuser-Busch- company
BRUSSELS AFP - Belgian brewing giant InBev on Tuesday announced it had completed the takeover of Anheuser-Busch to create the worlds biggest brewer. ...
Wed 19th November 2008 - 04:40am
US financial rescue package not a panacea- Paulson
WASHINGTON AFP - The 700 billion dollar US financial bailout package is -amp quotnot a panacea -amp quot to cure economic woes- US Treasury Secretary Henry Paulson told lawmakers Tuesday- amid growing calls for help for other sectors. ...
Wed 19th November 2008 - 01:54am
Brewer InBev completes takeover of Anheuser-Busch
BRUSSELS AFP - Belgian brewing giant InBev on Tuesday announced it had completed the takeover of Anheuser-Busch to create the worlds biggest brewer. ...
Wed 19th November 2008 - 01:49am
Carrefour stock gains after change of chief executive
PARIS AFP - Shares in French retailing giant Carrefour gained ground on Tuesday- in contrast to a sharp fall on the overall Paris market- following the replacement of its chief executive. ...
Wed 19th November 2008 - 12:34am
Barclays proposed Gulf investors amend injection plan
LONDON AFP - Barclays- the second-biggest British bank- said Tuesday that investors from the oil-rich Gulf had agreed to amend terms of their proposed capital injection worth billions of dollars. ...
Wed 19th November 2008 - 12:31am
Global emissions scheme crucial to competitive gas production- industry
Australias petroleum industry is warning gas electricity production could be disadvantaged if a global agreement on carbon emissions reduction cannot be reached. ...
Wed 19th November 2008 - 12:27am
Oil prices fall as CGES forecasts historic demand contraction
LONDON AFP - Oil prices fell on Tuesday as the Centre for Global Energy Studies CGES forecast a contraction in global oil demand for the first time in 25 years amid a severe global economic slowdown. ...
Wed 19th November 2008 - 12:10am
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