Stimulus plan clears Lower House
The House of Representatives has passed the Federal Governments $42 billion stimulus package- just hours after it was blocked in the Senate this afternoon. ...
Thu 12th February 2009 - 11:59pm
Stimulus plan clears Lower House- report
The House of Representatives has passed the Federal Governments $42 billion stimulus package- just hours after it was blocked in the Senate this afternoon- Sky News has reported. ...
Thu 12th February 2009 - 11:52pm
Stimulus plan clears Lower House- report
The House of Representatives has passed the Federal Governments $42 billion stimulus package- just hours after it was blocked in the Senate this afternoon- Sky News has reported. ...
Thu 12th February 2009 - 11:50pm
Drinks group Diageo reports sales- profit rise
LONDON AFP - Diageo- the worlds biggest maker of alcoholic drinks- said Thursday that sales and profits increased in the second half of 2008 as the financial crisis ravaged the world economy. ...
Thu 12th February 2009 - 11:42pm
Swiss Re CEO Jacques Aigrain steps down-
ZURICH- AFP - Jacques Aigrain has stepped down as chief executive officer of Swiss Re- the worlds largest reinsurer- and will be replaced by Stefan Lippe- the group announced Thursday in a statement. ...
Thu 12th February 2009 - 11:35pm
Electronics company Pioneer to cut 10-000 jobs
TOKYO AFP - Japanese electronics giant Pioneer Corp. ...
Thu 12th February 2009 - 11:26pm
Stock markets plunge after US bank plan announced
LONDON AFP - Stock markets in Europe and the United States fell sharply Tuesday as investors deemed a US bank stabilisation plan to be inadequate. ...
Thu 12th February 2009 - 11:10pm
Debate continues as stimulus plan reintroduced
Prime Minister Kevin Rudd has tonight reintroduced his $42 billion economic stimulus package into the House of Representatives- and debating over amendments has continued. ...
Thu 12th February 2009 - 11:10pm
China puts $19 bln into Rio Tinto
SYDNEY AFP - Chinas state-owned aluminium firm Chinalco on Thursday unveiled Beijings biggest investment ever in a foreign company- putting 19.5 billion dollars into troubled mining giant Rio Tinto. ...
Thu 12th February 2009 - 10:58pm
Panasonic to Showcase at Mobile World Congress 2009
Yokohama- Feb 12- 2009 - JCN Newswire - Japan-Panasonic Mobile Communications Co.- Ltd. Panasonic Mobile announced today that the company will exhibit its cutting-edge products and technologies for 3G mobile phones at Mobile World Congress 2009- to be held in Barcelona- Spain from February 16 to 19. ...
Thu 12th February 2009 - 10:52pm
Oil slips below $36 as demand outlook worsens
LONDON- Feb 12 - Oil slipped further below $36 a barrel on Thursday as worries over the health of the global economy and forecasts for a hefty fall in global energy demand weighed on sentiment. ...
Thu 12th February 2009 - 10:36pm
Xenophon prepared to keep negotiating on stimulus
South Australian independent Senator Nick Xenophon- who voted with the Opposition to block the Governments economic stimulus plan- says negotiations can continue. ...
Thu 12th February 2009 - 10:27pm
Mitsubishi i MiEV Rolls into New Zealand
Tokyo- Feb 12- 2009 - JCN Newswire - As part of a data-gathering campaign aimed at studying the feasibility of its electric vehicle project in markets worldwide- Mitsubishi Motors kicked off the New Zealand trial of the zero-emissions i MiEV electric vehicle along with local partner Meridian Energy at a gala event February 10. ...
Thu 12th February 2009 - 10:23pm
Mazda MX-5 Celebrates 20th Birthday at the 2009 Chicago Auto Show
Tokyo- Feb 12- 2009 - JCN Newswire - The Mazda MX-5 known as the Mazda Roadster in Japan was first revealed to the world at the Chicago Auto Show in February 1989. To help celebrate the 20th anniversary of this storied roadster- Mazda has announced that the freshened third generation MX-5 is making its North American debut at this years Chicago Auto Show- which is being held from February 11-22- 2009. ...
Thu 12th February 2009 - 10:22pm
Eurozone factory output slump fastest on record
BRUSSELS AFP - Factories and refineries in the recession-hit eurozone cut production at the fastest rate on record last month- and for 2008 as a whole- official EU data showed on Thursday. ...
Thu 12th February 2009 - 10:12pm
Premier heading to Japan for gas talks
The West Australian Premier- Colin Barnett- says he is not confident he will be able to convince the Japanese company INPEX to build a multi billion dollar gas plant in the Kimberley instead of the Northern Territory. ...
Thu 12th February 2009 - 09:50pm
Renault says net profit fell 78 in 2008
PARIS AFP - French carmaker Renault said on Thursday it had slumped to an operating loss for 2008 and would focus on freeing up cash this year to weather even worse market conditions. ...
Thu 12th February 2009 - 09:15pm
Chinanews.com and Caixun.com Form Strategic Alliance Will Jointly Provide Financial Information to Global Chinese Community
Beijing- Feb 12- 2009 - ACN Newswire - Chinanews.com- the online service operated by China News Service- and Caixun.com announced the establishment of a strategic alliance. Under the alliance- they will jointly create the personal finance channel of Chinanews.com. Caixun.com will also become the exclusive service provider of personal finance related information for Chinanews.com users. ...
Thu 12th February 2009 - 08:57pm
Oil slips below $36 as demand outlook worsens
LONDON- Feb 12 - Oil slipped further below $36 a barrel on Thursday as worries over the health of the global economy and forecasts for a hefty fall in global energy demand weighed on sentiment. ...
Thu 12th February 2009 - 08:36pm
Rio Tinto signs deal with Chinalco
Rio Tinto has expanded its footprint in China with a landmark $US19.5 billion $A29.71 billion deal with major shareholder Chinalco to reduce its onerous debt. ...
Thu 12th February 2009 - 08:12pm
Swan warns of even higher unemployment
The Senate's rejection of the federal government's $42 billion stimulus package will mean even higher unemployment- Treasurer Wayne Swan has warned. ...
Thu 12th February 2009 - 07:56pm
Rio Tinto signs deal with Chinalco
Debt-laden Rio Tinto Ltd says a $US19.5 billion $A29.71 billion deal with major shareholder Chinalco was its best option to pay down debt. ...
Thu 12th February 2009 - 07:46pm
Stimulus failure Rudds fault- Turnbull
Opposition Leader Malcolm Turnbull has refused to accept any blame for the demise of the Governments $42 billion stimulus package and will not change his stance against the plan. ...
Thu 12th February 2009 - 07:40pm
Govt looking to tighten foreign investment laws
The Federal Government is acting to toughen foreign investment laws as the Chinese firm Chinalco moves to increase its stake in Rio Tinto. ...
Thu 12th February 2009 - 07:19pm
Shareholders say execs paid too much
Most retail shareholders believe executives of listed companies receive way too much pay- a survey found. ...
Thu 12th February 2009 - 06:50pm
REFILE-UPDATE 1-Oil hovers above $36- demand worries nag
PERTH- Feb 12 - Oil held above $36 a barrel on Thursday- pausing after steep overnight losses- as lingering worries over the health of the global economy and forecasts for a hefty fall in global energy demand weighed on sentiment. ...
Thu 12th February 2009 - 06:49pm
New prison will lock up funds- Opposition
The Northern Territory Opposition has used Parliamentary question time to accuse the Government of wasting money by building a new jail outside Darwin. ...
Thu 12th February 2009 - 06:49pm
Stimulus failure Rudds fault- Turnbull
Opposition Leader Malcolm Turnbull has refused to accept any blame for the demise of the Governments $42 billion stimulus package and will not change his stance against the plan. ...
Thu 12th February 2009 - 06:44pm
Stimulus failure Rudds fault- Turnbull
Opposition Leader Malcolm Turnbull has refused to accept any blame for the demise of the Governments $42 billion stimulus package and will not change his stance against the plan. ...
Thu 12th February 2009 - 06:37pm
Swan warns of even higher unemployment
The Senate's rejection of the federal government's $42 billion stimulus package will mean even higher unemployment- Treasurer Wayne Swan has warned. ...
Thu 12th February 2009 - 06:36pm
Pure Energy bidding war 'to continue'
British energy giant BG Group Plc should outdo Arrow Energy Ltd's sweetened takeover offer for Pure Energy Ltd with an improved bid- analysts say. ...
Thu 12th February 2009 - 06:32pm
Stimulus failure Rudds fault- Turnbull
Opposition Leader Malcolm Turnbull has refused to accept any blame for the demise Governments $42 billion stimulus package and will not change his stance against the plan. ...
Thu 12th February 2009 - 06:32pm
Court-ordered liquidations soar- report
The number of court-ordered company liquidations has soared by 25 per cent nationally but more than doubled in WA. ...
Thu 12th February 2009 - 06:31pm
Leighton getting a record amount of work
Leighton says it expects to benefit from record orders of almost $38 billion after beating its own guidance with 20 per cent rise in interim operating profit. ...
Thu 12th February 2009 - 06:29pm
Oil hovers above $36- demand worries nag eyes US data
PERTH- Feb 12 - Oil held above $36 a barrel on Thursday- pausing after steep overnight losses- as lingering worries over the health of the global economy and forecasts for a hefty fall in global energy demand weighed on sentiment. ...
Thu 12th February 2009 - 06:27pm
Fosters sacks 115 employees
Fosters says 115 staff at its Abbotsford brewery have been made redundant. ...
Thu 12th February 2009 - 06:24pm
Rio inks $US19.5b deal with Chinalco
Rio Tinto will sell stakes in key iron ore and aluminium operations in Australia to Chinalco as part of a $US19.5 billion $A29.71 billion deal. ...
Thu 12th February 2009 - 06:15pm
Rio inks $US19.5b deal with Chinalco
Rio Tinto will sell stakes in key iron ore and aluminium operations in Australia to Chinalco as part of a $US19.5 billion $A29.71 billion deal. ...
Thu 12th February 2009 - 05:46pm
Swiss Re CEO Jacques Aigrain steps down-
ZURICH- AFP - Jacques Aigrain has stepped down as chief executive officer of Swiss Re- the worlds largest reinsurer- and will be replaced by Stefan Lippe- the group announced Thursday in a statement. ...
Thu 12th February 2009 - 05:39pm
Rio inks $US19.5b deal with Chinalco
Rio Tinto will sell stakes in key iron ore and aluminium operations in Australia to Chinalco as part of a $US19.5 billion $A29.71 billion deal. ...
Thu 12th February 2009 - 05:39pm
No decision yet on trading hours
The Premier- Colin Barnett- says a decision on extending retail trading hours in Western Australia is still a couple of months away. ...
Thu 12th February 2009 - 05:38pm
Chinalco doubles Rio Tinto stake with $30b deal
Rio Tinto has announced that Chinese aluminium producer- Chinalco- will invest $30 billion in the company. ...
Thu 12th February 2009 - 05:34pm
Banks must show compassion to bushfire victims- PM
Prime Minister Kevin Rudd has warned the banks to respond appropriately and to be sympathetic when dealing with victims of Victorias bushfires. ...
Thu 12th February 2009 - 05:31pm
CHM Alliance saves Swicker's bacon
Swicker's Bacon Factory- part of the Hans Group of companies- has been sold for an undisclosed sum. ...
Thu 12th February 2009 - 05:25pm
Beaconsfield Gold NL ASX-BCD A $4 Million Of Convertible Notes Redeemed Following Production Of 7-699 Ounces Of Gold In January
Melbourne- Australia- Feb 12- 2009 - ABN Newswire - Beaconsfield Gold NL ASX-BCDPINK-BFGMF today redeemed in full 12 million convertible notes for $4.08 million. The notes had been issued in February 2007 to partially fund the successful acquisition of a 100 effective economic interest in the Beaconsfield Gold Mine.The redemption was funded from the excellent positive cash flow now being generated by the Beaconsfield Mine. ...
Thu 12th February 2009 - 05:23pm
Inpex picks NT housing site
The Japanese company- Inpex- has chosen a preferred site in the Top End to house construction workers- for its multi-billion dollar gas plant planned for Darwin Harbour. ...
Thu 12th February 2009 - 05:18pm
Inpex picks NT housing site
The Japanese company- Inpex- has chosen a preferred site in the Top End to house construction workers- for its multi-billion dollar gas plant planned for Darwin Harbour. ...
Thu 12th February 2009 - 05:17pm
APN sees profit in 5 range of guidance
Trans-Tasman media company APN News -amp Media says its calendar 2008 net profit before non-recurring items will be within a five per cent range of $148 million. ...
Thu 12th February 2009 - 05:12pm
Xenophon kills off $42b stimulus plan
Independent Senator Nick Xenophon has dashed the Governments hopes of implementing its $42 billion economic stimulus package by voting to reject it. ...
Thu 12th February 2009 - 04:59pm
Yamaha Motor expects first loss in 26 years
TOKYO AFP - Sluggish motorcycle sales and the strong yen are expected to push Japans Yamaha Motor Co. into a loss for the first time in 26 years in 2009- the company warned Thursday. ...
Thu 12th February 2009 - 04:56pm
Australia shares rise 1.2 pct- gold miners gain
SYDNEY- Feb 12 - Australian stocks closed 1.2 percent higher on Thursday- boosted by gold mining firms and some of the biggest banks- and by slightly better than expected employment data. ...
Thu 12th February 2009 - 04:56pm
SKorea cuts key interest rate amid recession fears
SEOUL AFP - South Koreas central bank Thursday cut its key interest rate by 50 basis points to a record low 2.0 percent as the nation struggles to avert its first recession for a decade. ...
Thu 12th February 2009 - 04:54pm
Xenophon kills off $42b stimulus plan
Independent Senator Nick Xenophon has dashed the Governments hopes of implementing its $42 billion economic stimulus package by voting to reject it. ...
Thu 12th February 2009 - 04:49pm
Foster's axes 115 brewery workers
Foster's has entered into a five-year alliance with specialist maintenance provider ABB Australia - a move would make about 115 brewery employees redundant. ...
Thu 12th February 2009 - 04:45pm
Aussie aided by jobs data- but risk aversion caps
SYDNEY- Feb 12 - The Australian dollar pared losses on Thursday- helped by data showing a surprise rise in employment last month- although lingering risk aversion checked gains. ...
Thu 12th February 2009 - 04:45pm
James Hardie flags HQ move amid downturn
James Hardie Industries NV has flagged that it will move its corporate domicile from the Netherlands to the United States. ...
Thu 12th February 2009 - 04:44pm
Jobless rate hits 31-month high
Nearly 37-000 Australians joined the unemployment queue in January as the nation's jobless rate hit a 31-month high as employment growth ebbed. ...
Thu 12th February 2009 - 04:44pm
Court-ordered liquidations soar- report
The number of court-ordered company liquidations has soared by 25 per cent nationally but more than doubled in WA. ...
Thu 12th February 2009 - 04:41pm
Economics committee to examine emissions trading scheme
Federal Parliament will hold an inquiry into the Governments emissions trading scheme. ...
Thu 12th February 2009 - 04:36pm
Ralphs Bay plans lodged for assessment
The Walker Corporations lodged its proposal to build a canal estate on Hobarts eastern shore with the Resource Planning and Development Commission RPDC for assessment. ...
Thu 12th February 2009 - 04:32pm
Xenophon kills off $42 billion stimulus plan
Independent Senator Nick Xenophon has dashed the Governments hopes of implementing its $42 billion economic stimulus package by voting to reject it. ...
Thu 12th February 2009 - 04:31pm
Insurance red tape will be cut for bushfire victims
The Federal Assistant Treasurer- Chris Bowen- says the insurance industry will cut red tape for those affected by Victorias bushfires. ...
Thu 12th February 2009 - 04:27pm
Australia shares rise 1.2 pct- miners gain
SYDNEY- Feb 12 - Australian stocks ended up 1.2 percent on Thursday- helped by gold mining stocks and some of the biggest banks. ...
Thu 12th February 2009 - 04:18pm
Rio presents bid for 2016 Olympics
Rio de Janeiro has presented the International Olympic Committee with its bid to host the 2016 Games. ...
Thu 12th February 2009 - 04:13pm
Nylex placed in receivership
Diversified industrial group Nylex Ltd has been placed in receivership and its shares suspended from quotation on the Australian stock exchange. ...
Thu 12th February 2009 - 03:58pm
Stimulus teeters after Xenophon stonewalls
The Governments $42 billion economic stimulus package appears to be on the brink of collapse after key independent Senator Nick Xenophon said he could not support it without his amendment. ...
Thu 12th February 2009 - 03:48pm
Jameson Resources Limited ASX-JAL To Acquire Basin Thermal Coal Mine
Perth- Australia- Feb 12- 2009 - ABN Newswire - Jameson Resources Limited ASX-JAL is pleased to announce that it has completed its due diligence in relation to an option to acquire 100 of the development rights to the Basin Thermal Coal Mine -amp quotBasin -amp quot or the -amp quotProject -amp quot in British Columbia- Canada- from Compliance Energy Corporation CEC. CEC holds an exclusive mining agreement to develop the Project. ...
Thu 12th February 2009 - 03:46pm
Stimulus teeters after Xenophon stonewalls
The Governments $42 billion economic stimulus package appears to be on the brink of collapse after key independent Senator Nick Xenophon said he could not support it without his amendment. ...
Thu 12th February 2009 - 03:45pm
Australia shares trim gains banks- BHP off highs
SYDNEY- Feb 12 - Australian stocks trimmed gains to a 0.9 percent rise on Thursday as some banks and global miner BHP Billiton Ltd BHP BLT.L came off earlier highs. ...
Thu 12th February 2009 - 03:33pm
Business chamber wants freeze on carbon scheme
The Queensland Chamber of Commerce and Industry says the Federal Governments Carbon Pollution Reduction Scheme must be postponed until the economy is revived. ...
Thu 12th February 2009 - 03:27pm
Stimulus teeters after Xenophon stonewalls
The Governments $42 billion economic stimulus package appears to be on the brink of collapse after key independent Senator Nick Xenophon said he could not support it without his amendment. ...
Thu 12th February 2009 - 03:24pm
Unemployment in Britain at 10-year high
The unemployment total in Britain rose to 1.97 million in December- reaching its highest level in 10 years- official figures showed. ...
Thu 12th February 2009 - 03:15pm
ING scraps 2-700 jobs in the Netherlands
Dutch banking and insurance giant ING announced it would scrap 2-700 jobs in the Netherlands as part of worldwide cutbacks unveiled last month. ...
Thu 12th February 2009 - 03:12pm
Qld jobless rate jumps to 4.4pc
In Queensland- the seasonally adjusted unemployment rate has jumped from 3.9 per cent to 4.4 per cent. ...
Thu 12th February 2009 - 02:37pm
Qld jobless rate jumps to 4.4pc
In Queensland- the seasonally adjusted unemployment rate has jumped from 3.9 per cent to 4.4 per cent. ...
Thu 12th February 2009 - 02:36pm
Fight for Inpex not over- WA Premier
The West Australian Premier Colin Barnett is challenging the idea that Darwin is a done deal for the 12 billion dollar Inpex Liquefied Natural Gas processing plant. ...
Thu 12th February 2009 - 02:35pm
Fight for Inpex not over- WA Premier
The West Australian Premier Colin Barnett is challenging the idea that Darwin is a done deal for the 12 billion dollar Inpex Liquefied Natural Gas processing plant. ...
Thu 12th February 2009 - 02:34pm
James Hardie flags HQ move amid downturn
James Hardie Industries NV has flagged that it will move its corporate domicile from the Netherlands to the United States. ...
Thu 12th February 2009 - 02:24pm
Fletcher Building profit down 27
Fletcher Building has reported a 27 per cent fall in half-year net profit to $NZ172 million $A137.79 million. ...
Thu 12th February 2009 - 02:22pm
Train strike will impact across Qld- union says
Unions say rail services between Brisbane and Cairns would be disrupted if train drivers strike next week. ...
Thu 12th February 2009 - 02:21pm
Insurance council says fire claims to be treated equally
Insurance companies say south-west Victorian residents should not worry that their bushfire damage claims will be given a lower priority than others. ...
Thu 12th February 2009 - 02:20pm
Lion merger plan fell short $1b- Coke
Coca-Cola Amatil CCA says trans-Tasman brewer Lion Nathan Ltd's proposal to merge with soft drinks maker failed because it was $1b short of being acceptable. ...
Thu 12th February 2009 - 02:16pm
Australian Market Report of February 12- Expectation on Rios Deal
Sydney- Australia- Feb 12- 2009 - ABN Newswire - US shares slightly rebounded overnight as investors restored some calm after the disappointment over the rescue plan lacking details. Yesterday the Australian share market weathered the bad lead from Wall Street and ended with a modest drop. The benchmark S -amp ampP-ASX200 index closed down 0.4- or 14.3 points- at 3474.4- while the All Ordinaries fell 0.3- or 10.5 points- at 3418.1. ...
Thu 12th February 2009 - 02:15pm
Govt gives ground on stimulus package
The Government will reduce some cash handouts and the tax bonus in its $42 billion economic stimulus package in a bid to appease crossbench senators and get the legislation through the Senate. ...
Thu 12th February 2009 - 01:59pm
Business confidence worst since '90- NAB
The business environment is at its worst since the onset of the 1990 recession and will deteriorate even more as Easter approaches- a report says. ...
Thu 12th February 2009 - 01:57pm
Oil steadies above $36- demand worries nag eyes US data
PERTH- Feb 12 - Oil held above $36 a barrel on Thursday- pausing after steep overnight losses- as lingering worries over the health of the global economy and forecasts for a hefty fall in global energy demand weighed on sentiment. ...
Thu 12th February 2009 - 01:57pm
Pure Energy bidding war 'to continue'
British energy giant BG Group Plc should outdo Arrow Energy Ltd's sweetened takeover offer for Pure Energy Ltd with an improved bid- analysts say. ...
Thu 12th February 2009 - 01:52pm
Unemployment rate hits 4.8pc
Official figures show the economy added rather than lost jobs last month- but the jobless rate still went up from 4.5 per cent to 4.8 per cent. ...
Thu 12th February 2009 - 01:48pm
Jobless fears rise to 26-year high
Australians are as anxious about job security as they were in the 1982 recession and labour market conditions will only worsen- a report says. ...
Thu 12th February 2009 - 01:44pm
Job concerns as Nylex goes into receivership
The plastics company Nylex has gone into voluntary administration- affecting two factories in South Australia. ...
Thu 12th February 2009 - 01:38pm
Business rot worst since 1990- NAB says
The business environment is at its worst since the onset of the 1990 recession and will deteriorate even more as Easter approaches- a report says. ...
Thu 12th February 2009 - 01:36pm
Lion merger plan fell short $1b- Coke
Coca-Cola Amatil CCA says trans-Tasman brewer Lion Nathan Ltd's proposal to merge with soft drinks maker failed because it was $1b short of being acceptable. ...
Thu 12th February 2009 - 01:30pm
Leighton wins $2.6b in mine deals
Australia's biggest construction company Leighton Holdings Ltd has won $2.6 billion of contract work for coal mines in Indonesia and Mongolia. ...
Thu 12th February 2009 - 01:26pm
White noise- why the jobs stats dont make sense
The latest labour force figures are curious- and they dont make a lot of sense. ...
Thu 12th February 2009 - 01:24pm
Mixed messages from latest jobless figures
The latest labour force figures are curious- and they dont make a lot of sense. ...
Thu 12th February 2009 - 01:23pm
Focus Minerals Limited ASX-FML 80 Increase In Gold Resources At Brilliant Deposit- Coolgardie
Perth- Australia- Feb 12- 2009 - ABN Newswire - Australian-based gold producer Focus Minerals Ltd ASX-FML is pleased to announce a substantial increase in Indicated and Inferred Resources at the Companys Brilliant Gold Project- located 1.5km south-east of Coolgardie in Western Australia.The updated JORC compliant resource for the Brilliant Project totals 3.1Mt - 2.4g-t Au for 240-100 contained ounces- comprising- ...
Thu 12th February 2009 - 01:16pm
January unemployment rate at 4.8- ABS
Australia's unemployment rate was a seasonally adjusted 4.8 per cent in January- compared with an unchanged 4.5 per cent in December- ABS figures show. ...
Thu 12th February 2009 - 12:59pm
Fears Rio Tinto will sell-off Territory interests- Union
The Northern Territory mining union says workers are worried that Rio Tintos expected plans to sell off Northern Territory interests will mean more job losses and worse pay and conditions. ...
Thu 12th February 2009 - 12:48pm
Premier heading to Japan for gas talks
The West Australian Premier- Colin Barnett- says he is not confident he will be able to convince the Japanese company INPEX to build a multi billion dollar gas plant in the Kimberley instead of the Northern Territory. ...
Thu 12th February 2009 - 12:47pm
Australia shares up 1.9 pct- Leighton climbs
SYDNEY- Feb 12 - Australian stocks rose 1.9 percent on Thursday as news U.S. lawmakers had nearly reached a deal to pass an economic stimulus package boosted financial stocks such as Commonwealth Bank CBA. ...
Thu 12th February 2009 - 12:44pm
Mussleroe Bay wind farm awaiting finance
The company behind a $230 million renewable energy project planned for north east Tasmania says finance issues- not government legislation- has forced them to delay construction. ...
Thu 12th February 2009 - 12:38pm
RBA faithful banking on policy power
Last week an economist in Sydney was briefing his colleagues from the banks dealing room about the Reserve Banks latest forecasts. One of the screen jockeys cut him short. I dont take anything the RBA or the Treasury says seriously anymore- he said. Theyve been wrong too many times. ...
Thu 12th February 2009 - 12:34pm
Sims sees loss after impairment charge
Sims Metal Management Ltd says it will post a first half net loss of between $78 million and $83 million after a $173 million impairment charge. ...
Thu 12th February 2009 - 12:31pm
Inpex set to doorknock for housing
A camp for 2000 construction workers on Darwins proposed multi-billion dollar gas plant could be built in Howard Springs. ...
Thu 12th February 2009 - 12:23pm
Leighton wins $2.6b in mine deals
Australia's biggest construction company Leighton Holdings Ltd has won $2.6 billion of contract work for coal mines in Indonesia and Mongolia. ...
Thu 12th February 2009 - 12:20pm
Govt gives ground on stimulus package
The Government will reduce some cash handouts and the tax bonus in its $42 billion economic stimulus package in a bid to appease crossbench senators and get the legislation through the Senate. ...
Thu 12th February 2009 - 12:16pm
Jobless fears 'highest since 1982'
Consumer anxiety about rising unemployment has risen to the highest level since the 1982 recession- a survey shows. ...
Thu 12th February 2009 - 12:14pm
James Hardie flags HQ move amid downturn
James Hardie Industries NV has confirmed it plans to move its corporate domicile away from its current base in the Netherlands. ...
Thu 12th February 2009 - 11:55am
Unemployment rate hits 4.8pc
Official figures show the economy added rather than lost jobs last month- but the jobless rate still went up from 4.5 per cent to 4.8 per cent. ...
Thu 12th February 2009 - 11:48am
Coca-Cola Amatil profits up
Australian soft-drink bottler Coca-Cola Amatil has announced a 10 per cent rise in profit- before one-off expenses- to $404 million. ...
Thu 12th February 2009 - 11:47am
January unemployment rate at 4.8- ABS
Australia's unemployment rate was a seasonally adjusted 4.8 per cent in January- compared with an unchanged 4.5 per cent in December- ABS figures show. ...
Thu 12th February 2009 - 11:41am
Call for building code review
The Speaker of Tasmanias House of Assembly wants a review of Tasmanias building code in an effort to save houses from bushfires. ...
Thu 12th February 2009 - 11:41am
Australia shares up 1.5 pct- Pure Energy jumps
SYDNEY- Feb 12 - Australian stocks rose 1.5 percent on Thursday- led by the top banks- with sentiment boosted by news U.S. lawmakers had nearly reached a deal on an economic stimulus package. ...
Thu 12th February 2009 - 11:39am
Unemployment rate hits 4.8pc
Australias unemployment rate has risen for the second straight month. ...
Thu 12th February 2009 - 11:36am
Unemployment rate hits 4.8pc
Australias unemployment rate has risen for the second straight month. ...
Thu 12th February 2009 - 11:33am
Inflation expectations 'at 10-year low'
Consumer expectations for inflation have fallen to the lowest point in just over 10 years- a survey shows. ...
Thu 12th February 2009 - 11:32am
Nylex placed in receivership
Shares in diversified industrial group Nylex were suspended from quotation on the Australian stock exchange after receivers were appointed to the company. ...
Thu 12th February 2009 - 11:27am
Jetstar drops international fuel surcharge
The airline Jetstar says it is dropping its fuel surcharge on international flights due to lower oil and jet fuel prices. ...
Thu 12th February 2009 - 11:24am
Australia shares up 1.8 pct- banks pace gains
SYDNEY- Feb 12 - Australian stocks rose 1.8 percent on Thursday- led by the top banks- with sentiment boosted by news U.S. lawmakers had nearly reached a deal on an economic stimulus package. ...
Thu 12th February 2009 - 11:17am
ACCC to oppose poultry merger
The Australian Competition and Consumer Commission ACCC has signalled its plans to oppose a merger of two of New South Wales largest poultry producers. ...
Thu 12th February 2009 - 11:17am
Esky-maker Nylex goes into receivership
Plastics company Nylex has gone into voluntary administration and receivership. ...
Thu 12th February 2009 - 11:11am
United Airlines shuts India call centre
United Airlines says it is closing its call centre in India and transferring 165 jobs to the United States- which is reeling from layoffs amid recession. ...
Thu 12th February 2009 - 10:59am
GCL-Poly Energy Holdings Limited HKG-3800 Increase In Coal Price Provides Sharp Turnaround for 2009
Hong Kong- China- Feb 12- 2009 - ABN Newswire - Despite tough operating environment in 2008 resulting from the substantial increases in coal price and the sharp turnaround of economic prospects- GCL-Poly Energy Holdings Limited HKG- ...
Thu 12th February 2009 - 10:59am
Coca-Cola Amatil reports profit up 24.1
Soft drinks maker Coca-Cola Amatil reported a net profit of $385.6 million for 2008- up 24.1 per cent on the prior year. ...
Thu 12th February 2009 - 10:49am
Rio to cut Weipa mine production
Rio Tinto Alcan has announced it will cut production at its Weipa bauxite mine- on western Cape York in far north Queensland- by 9 per cent per year. ...
Thu 12th February 2009 - 10:47am
Fears Rio Tinto will sell-off Territory interests- Union
The Northern Territory mining union says workers are worried that Rio Tintos expected plans to sell off Northern Territory interests will mean more job losses and worse pay and conditions. ...
Thu 12th February 2009 - 10:44am
Fires- floods bill to hit $180m- Suncorp
Suncorp Metway says the combined cost of claims related to the recent bushfires in Victoria and floods in Queensland is expected to be around $180 million. ...
Thu 12th February 2009 - 10:34am
NT Govt threatens a firestorm over Administrator comment
The Northern Territory Oppositions Dave Tollner has been forced to withdraw comments he made in Parliament about the Administrator- Tom Pauling. ...
Thu 12th February 2009 - 10:31am
NT Govt threatens a firestorm over Administrator comment
The Northern Territory Oppositions Dave Tollner has been forced to withdraw comments he made in Parliament about the Administrator- Tom Pauling. ...
Thu 12th February 2009 - 10:30am
Swan tight-lipped on Rio-Chinalco deal
A deal which would see Chinas biggest aluminium producer increase its stake in Rio Tinto is expected to be announced later today when Rio Tinto releases its profit results. ...
Thu 12th February 2009 - 10:28am
Madoff indictment delayed- wife accused
NEW YORK AFP - US authorities on Wednesday delayed indicting Bernard Madoff for 30 days and in a new twist said his wife withdrew 15.5 million dollars just before the financiers alleged fraud collapsed. ...
Thu 12th February 2009 - 10:27am
Jetstar scraps fuel surcharges
Jetstar is removing all international fuel surcharges in response to lower oil and jet fuel prices. ...
Thu 12th February 2009 - 10:22am
Rudd urges insurers to quickly deal with bushfire claims
Prime Minister Kevin Rudd is urging insurance companies to act quickly and professionally when dealing with claims from victims of the Victorian bushfires. ...
Thu 12th February 2009 - 10:22am
PaperlinX tips H1 result to be 40 down
Paper maker PaperlinX says it expects a half year result about 40 per cent below the prior corresponding period. ...
Thu 12th February 2009 - 10:19am
Aussie dollar slips ahead of jobs data- bonds climb
SYDNEY- Feb 12 - The Australian dollar dipped on Thursday ahead of the release of a key jobs report expected to show rising unemployment- and as a bleak economic outlook overshadowed a proposed $789 billion U.S. stimulus package. ...
Thu 12th February 2009 - 10:17am
James Hardie net profits drop 43
James Hardie NV has recorded a drop in net operating profit in the first nine months of fiscal 2009- and says it expects weaker market conditions to continue. ...
Thu 12th February 2009 - 10:17am
Australia shares up 0.8 pct- James Hardie gains
SYDNEY- Feb 12 - Australian stocks rose 0.8 percent on Thursday- as banking stocks were boosted on news that U.S lawmakers nearly reached a deal on economic stimulus package- while James Industries N.V. JHX gained after strong profits. ...
Thu 12th February 2009 - 10:16am
NSW first home sales hit 17-year high
Efforts to boost first homeownership have lifted sales in New South Wales to their highest level since 1991. ...
Thu 12th February 2009 - 10:16am
Coca-Cola Amatil reports profit up 24.1
Soft drinks maker Coca-Cola Amatil reported a net profit of $385.6 million for 2008- up 24.1 per cent on the prior year. ...
Thu 12th February 2009 - 10:15am
NSW first home sales hit 17-year high
Efforts to boost first homeownership have lifted sales in New South Wales to their highest level since 1991. ...
Thu 12th February 2009 - 10:15am
Govt moves to avert south-east Qld rail strike
Queensland Rail has asked the Australian Industrial Relations Commission AIRC to intervene to stop next weeks planned rail strike in the south-east. ...
Thu 12th February 2009 - 09:54am
Abattoir closure leaves 40 people jobless
The global economic downturn is being blamed for the closure of an abattoir in Western Australia. ...
Thu 12th February 2009 - 09:51am
Fate of Raptis Group hangs in the balance
High-profile Gold Coast developer Jim Raptis will know the fate of his company- the Raptis Group- next month. ...
Thu 12th February 2009 - 09:50am
Abattoir closure leaves 40 people jobless
The global economic downturn is being blamed for the closure of an abattoir in Western Australia. ...
Thu 12th February 2009 - 09:45am
Bank of England warns on longer recession
As unemployment in the UK reaches its highest levels in 12 years- there is a dire warning that the British economy is already in a deep recession. ...
Thu 12th February 2009 - 09:42am
ACCC to oppose poultry producer takeover
The Australian Competition and Consumer Commission ACCC has announced it intends to oppose the takeover of one of Australias largest poultry producers. ...
Thu 12th February 2009 - 09:39am
RBA faithful banking on policy power
Last week an economist in Sydney was briefing his colleagues from the banks dealing room about the Reserve Banks latest forecasts. One of the screen jockeys cut him short. I dont take anything the RBA or the Treasury says seriously anymore- he said. Theyve been wrong too many times. ...
Thu 12th February 2009 - 09:37am
Wave power plan for SAs south-east
The South Australian Government says it wants to fast track regulations to make SA the nations tidal energy capital. ...
Thu 12th February 2009 - 09:32am
RBA faithful banking on policy power
Last week an economist in Sydney was briefing his colleagues from the banks dealing room about the Reserve Banks latest forecasts. One of the screen jockeys cut him short. I dont take anything the RBA or the Treasury says seriously anymore- he said. Theyve been wrong too many times. ...
Thu 12th February 2009 - 09:31am
Designers get creative to battle recession
With recession ripping a hole in the US retail industry- designers are struggling to come up with clothes women feel they cant do without as they unveil their collections at New Yorks semi-annual Fashion Week this week. ...
Thu 12th February 2009 - 09:29am
Designers get creative to battle recession
With recession ripping a hole in the US retail industry- designers are struggling to come up with clothes women feel they cant do without as they unveil their collections at New Yorks semi-annual Fashion Week this week. ...
Thu 12th February 2009 - 09:28am
Qld jobs squad to meet
Queensland Premier Anna Blighs jobs squad will meet for the second time today. ...
Thu 12th February 2009 - 09:24am
Boral Sees Upturn- Late This Year
Yesterdays housing finance figures were good news for the economy and for companies operating in the sector- especially Boral- which confirmed its recent warning of a sharp slide in interim earnings.The number of home loans- seasonally adjusted- gained 6.4 in December from the previous month- according to the Australian Bureau of Statistics. Analysts had been expecting a smaller- 3.5 rise.Decembers rise was the third consecutive month of gains in home-loan approvals- as firstly lower interest rate cuts and then the higher new and existing home buyers grants kicked in.Loans for new dwellings skyrocketed 15.2 in the month- seasonally adjusted- as consumers took advantage of falling interest rates and grants for first time buyers on new homes announced by the government in October.That will be music to the likes of Boral and CSR and Brickworks- not to mention GWA who depend on new home building and renovation.Boral isnt getting its hopes up quite yet. It certainly sees an improvement coming- but not for a few more months.Boral says lower interest rates and government spending will not help its housing business until mid-2009 after yesterday officially reporting a 43.5 slump in first half earnings.Of course- Borals woes wont be solved by a rebound in Australia- it still has significant exposure to the depressed US housing sector- which shows no sign of improving.Net profit for the six months to December 31 was $74.9 million- down from $132.4 million in the corresponding period- with sales flat at $2.6 billion.Earnings before interest- tax- depreciation and amortisation EBITDA dropped $75 million- or 21 to $285 million from the previous corresponding period.The shares rose- then fell back to close steady on $3.08. Dividend was chopped to 7.5 cents a share from 17 cents a share previously.Chief executive Rod Pearse confirmed the companys recent guidance for a full year net profit of $120 million- more than half the $242.8 million in 2007-08.But he said 2009 should be the bottom of the Australian housing cycle- but the US remains difficult to predict. -amp 160The big cuts in rates by the Reserve Bank and the increased first home buyers grants will make a difference- but Mr Pearse said that wouldnt be apparent until after the middle of the year- so no joy this financial year.Boral plans to reduce its US production plant capacity usage from 40 to 20 in the second half of fiscal 2009 in response to the continuing downturn.It said it has also reduced staff numbers by approximately 18-000- or 8- in the past year across all its operations.Despite the downturn in its key markets- especially the US- Mr Pearse has again denied the need for Boral to raise capital from the sharemarket. -amp quotWere not currently contemplating raising equity- he said. -amp quotWe have no requirement to raise additional equity nor are we contemplating doing so- Mr Pearse said.Borals borrowings increased in the first half due to the depreciation of the Australian dollar- bringing its debt to equity ratio to approximately 79 at December 31.Mr Pearse said the group was constantly reviewing the value of its assets- but no write-downs were needed in the first half. -amp quotThroughout the portfolio we are focused on mitigating the impacts of the market downturns- managing director Rod Pearse said in a statement to the ASX.Boral said it was focusing on cutting costs- raising prices where possible and reducing production- such as in the US.The Australian operations saw an 11 decline on lower volumes and higher costs- while US posted an EBITDA loss of $A13 million compared with a $A29 million profit the previous year. Asian EBITDA increased to $A12 million from $A9 million. -amp 160 ...
Thu 12th February 2009 - 08:59am
Bradken-PMP
Bradken Ltd- a supplier of equipment and services to the rail and mining industries- yesterday cut its interim dividend as it battened down the hatches for the rest of the year- despite delivering an solid increase in first half profit.The market took note of the move and the uncertain outlook- given the companys involvement with the resources sector and sold down the shares to $1.84- a 52 week low and off almost 10 on the day. That was after being up in early trading.Bradken directors said net profit during the six months to December 31 jumped 50.5 per cent to $34.93 million- from the previous corresponding period- due to the AmeriCast acquisition and higher sales from its mining and industrial divisions.But despite this seemingly good result- Bradken will pay an interim dividend of 10 cents per share- down 33 from the previous corresponding periods 15 cents- due to -amp quotuncertainties in world financial markets -amp quot. -amp quotThe directors believe that conservation of cash is a prudent approach at this point given the current and likely future volatilities- -amp quot Bradken said in a statement yesterday.Bradken said the second half of the year would be affected by de-stocking and order cancellations- while the outlook for the 2010 financial year was unclear. -amp quotWe are entering the second half of FY09 with a strong but declining order book in most operations and we expect the third quarter to continue to be impacted by de-stocking and order cancellations- -amp quot Bradken managing director Brian Hodges told the ASX in a statement.Mr Hodges said- -amp quotBradken recognises the tightness that exists in credit markets globally and we are acting on the assumption that this will continue for some time. -amp quotCurrent de-stocking of consumables and cancellations of capital goods orders are obscuring the medium term outlook for the underlying markets- -amp quot Mr Hodges said. -amp quotMajor changes in world commodity pricing and exchange rates have also rearranged many relationships- which are yet to work through. -amp quotSignificantly more visibility should be available during the fourth quarter of FY09 as destocking and capital goods order cancellations stabilise. -amp quotThe Company is focusing on cash generation and a reduction of borrowing levels through the maximisation of profit by maintaining margins- reduced capital expenditure- strong focus on working capital and an ongoing consideration of underwriting the DRP. -amp 160These programs have been planned to position the Company well for refinancing prior to December 2010. -amp quotWe are entering the second half of FY09 with a strong- but declining order book in most operations and we expect the third quarter to continue to be impacted by de-stocking and order cancellations. -amp quotOur present expectation for the second half is for the mining consumables business to be slightly down from its first half highs. -amp quotThe Rail business has contracts already in place for the second half at a similar rate. Demand from the power industry will continue to support the Power -amp 38 Cement business- which should be stronger in the second half. -amp quot -amp quotThe Engineered Products Divisions second half sales are expected to be down at least 20- due to lower demand from the rail- mining and construction markets but with less impact from energy markets and a positive contribution from military and transit markets- -amp quot said Mr Hodges. -amp quotNew capital spending approvals by all Divisions have been cut back considerably with some earlier approved projects currently being completed during the second half. Planned capex spend in the second half will be $35m with further significant reductions forecast for 2010. -amp quotWorkforce downsizing to match market requirements is also in progress. -amp quot -amp quotAt this time- with the changing nature of global markets- the outlook for FY10 remains unclear- although we expect greater visibility in the fourth quarter of FY09. The early outlook for the Rail business is positive with $65m of wagon orders already locked in for FY10 and reasonable ongoing tender activity. -amp quotA further sign of the companys conservatism is the discount for the dividend reinvestment program its 2.5 and the fact that it will be underwritten.Bradken said revenue jumped 73.7 in the half to $625.69 million which produced a 69 per cent rise in earnings before interest- taxes- depreciation and amortisation EBITDA to $90.7 million. -amp quotThe half year result reflects strong growth in mining consumable sales- five months of trading from the Engineered Products Division formerly AmeriCast Technologies and a full six months trading from the Cast Metal Services CMS acquisition- -amp quot Mr Hodges said. Thats all history now. ...
Thu 12th February 2009 - 08:58am
Rio presents bid for 2016 Olympics
Rio de Janeiro has presented the International Olympic Committee with its bid to host the 2016 Games. ...
Thu 12th February 2009 - 08:53am
Ireland makes 7b euro banks injection
The Irish government says it is injecting seven billion euros $A13.86 billion into the country's top two banks- Allied Irish Bank and Bank of Ireland. ...
Thu 12th February 2009 - 08:45am
Wall St rises on stimulus agreement- banks
Stocks on Wall Street finished higher this morning after a choppy session overnight. ...
Thu 12th February 2009 - 08:38am
Toyota to cut North America costs by 10 percent- exec
CHICAGO AFP - Toyota Motor plans to slash North America expenditures by as much as 10 percent as part of a global cost-cutting plan- one of the Japanese automakers top US executives said Wednesday. ...
Thu 12th February 2009 - 08:36am
IEA cuts world oil demand forecast again
The International Energy Agency cut its forecast again for global oil demand this year- but warned about a future supply crunch due to low investment levels. ...
Thu 12th February 2009 - 08:26am
First home buyers rush to market in NSW
Increases in first home owners grants and falling interest rates have led to the highest number of first home buyers purchasing homes in NSW in two decades. ...
Thu 12th February 2009 - 08:25am
Australia shares seen up Rio Tinto in focus
The Financial Times said cash injection would be $19.5 billion. Rio will report earnings at 5-00 p.m. 0600 GMT- after the close of trading. For more- see ID-nLB779733. ...
Thu 12th February 2009 - 08:22am
Steel demand 'collapses'- ArcelorMittal
ArcelorMittal reported a huge loss on Wednesday for the last quarter of 2008 and said it would slash production and jobs this year as demand plummets. ...
Thu 12th February 2009 - 08:18am
Rio Tinto tips Chinalco announcement
Anglo-Australian mining giant Rio Tinto said on Wednesday it was still in talks with Chinalco and would make an announcement shortly. ...
Thu 12th February 2009 - 08:18am
Libor rate edges higher
The cost of three-month dollar loans between banks rose modestly on Wednesday after the bank rescue plan announced by US Treasury Secretary Tim Geithner. ...
Thu 12th February 2009 - 08:17am
China's January imports- exports plunge
China's trade plunged in January as the global economic crisis drove down demand for its exports- dampening hopes an economic recovery might be taking shape. ...
Thu 12th February 2009 - 08:14am
US bank bosses pilloried in Congress
WASHINGTON AFP - Top-earning US bank bosses waded into the lions den Wednesday for a public mauling by lawmakers furious at their uses and misuses of billions in government bailout money. ...
Thu 12th February 2009 - 08:11am
Solar power plant to shed light on new technology
A $10 million power station planned for Lake Cargelligo- in central western New South Wales is to trial new technology not used in Australia before. ...
Thu 12th February 2009 - 08:11am
The first wave power licence is granted in SA and testing will start near Port MacDonnell in the south-east.
...
Thu 12th February 2009 - 08:10am
Lift needed for out of control economy- Krugman
WASHINGTON AFP - Nobel laureate economist Paul Krugman said Wednesday the US economic crisis is -amp quotout of control -amp quot and that a renewed push for public investment is the most effective stimulus remedy. ...
Thu 12th February 2009 - 07:54am
Fletcher Building profit down 27
Fletcher Building has reported a 27 per cent fall in half-year net profit to $NZ172 million $A137.79 million. ...
Thu 12th February 2009 - 07:54am
UK bank chiefs offer public apology
The former heads of Royal Bank of Scotland Group PLC and HBOS PLC have apologised to shareholders and the public on Tuesday. ...
Thu 12th February 2009 - 07:53am
Fortis shareholders reject break-up of ailing bank
BRUSSELS AFP - Fortis shareholders plunged the troubled banking group into new uncertainty Wednesday- rejecting Dutch and Belgian moves to nationalise some assets and sell others off to French bank BNP Paribas. ...
Thu 12th February 2009 - 07:51am
Oil down 4.3 pct as IEA predicts big demand drop
NEW YORK- Feb 11 - U.S. oil prices fell 4.3 percent on Wednesday after the International Energy Agency said global energy demand this year would post its biggest decline since 1982 under the weight of the economic crisis. ...
Thu 12th February 2009 - 07:51am
Petrol jump a double hit- says RAA
The RAA says this weeks jump in petrol prices has been a double hit- with wholesalers and retailers manipulating the fuel market. ...
Thu 12th February 2009 - 07:34am
Peugeot Citroen posts huge 2008 loss
French car-maker PSA Peugeot Citroen has posted net losses of 343 million euros $A679.34 million for 2008- and warned of more bad times this year. ...
Thu 12th February 2009 - 06:55am
France says auto bail-out not protectionist
PARIS AFP - France on Wednesday fiercely defended its plan to pump almost nine billion euros into its struggling carmakers after EU countries labeled it protectionist and called a crisis summit. ...
Thu 12th February 2009 - 06:51am
KBR pleads guilty in Nigeria bribery probe
WASHINGTON AFP - A former unit of US conglomerate Halliburton agreed to pay 579 million dollars in criminal and civil penalties to settle a long probe into bribery in Nigeria- US officials said Wednesday. ...
Thu 12th February 2009 - 06:49am
US trade gap narrows to $US39.9b
The US trade deficit narrowed to $US39.9 billion in December- the third consecutive month of a shrinking gap- government data showed on Wednesday. ...
Thu 12th February 2009 - 06:43am
US to urge bold action at G7 meeting
WASHINGTON AFP - US Treasury Secretary Timothy Geithner will urge the Group of Seven industrialized countries to take -amp quotbold measures -amp quot to confront the global financial crisis at a meeting this week- a senior Treasury official said Wednesday. ...
Thu 12th February 2009 - 06:30am
Oil down $1 as IEA predicts big demand drop
NEW YORK- Feb 11 - U.S. oil prices fell more than $1 on Wednesday after the International Energy Agency said global energy demand this year would post its biggest decline since 1982 under the weight of the economic crisis. ...
Thu 12th February 2009 - 06:12am
Air traffic controllers strike decision to be revealed
Australias air traffic controllers are likely to move a step closer to strike action today when the results of a secret ballot are revealed. ...
Thu 12th February 2009 - 05:43am
Madoff indictment delayed- wife accused
NEW YORK AFP - US authorities on Wednesday further delayed indicting Bernard Madoff and accused his wife of withdrawing 15.5 million dollars days before the disgraced financiers alleged fraud collapsed. ...
Thu 12th February 2009 - 05:41am
Oil down as IEA predicts big demand slowdown
NEW YORK- Feb 11 - U.S. oil prices fell slightly on Wednesday after the International Energy Agency said global energy demand would fall this year by the largest amount since 1982 under the weight of the economic crisis. ...
Thu 12th February 2009 - 05:23am
Economy to shrink sharply in 2009- BoE
LONDON AFP - The Bank of England said Wednesday the recession-hit economy risked shrinking by up to six percent later this year on a 12-month basis before possibly returning to growth in 2010. ...
Thu 12th February 2009 - 04:32am
UK jobless rate hits decade high
LONDONAFP AFP - Britains official unemployment rate hit the highest level for about 10 years on Wednesday- as experts warned more job cuts would come as the recession deepens. ...
Thu 12th February 2009 - 04:30am
Oil falls towards $37 on U.S. inventory data
LONDON- Feb 11 - Oil pared earlier gains to fall towards $37 a barrel on Wednesday after government data showed that U.S. crude oil stockpiles rose by more than expected last week on low demand from refineries. ...
Thu 12th February 2009 - 03:26am
France says auto bail-out not protectionist
PARIS AFP - France on Wednesday fiercely defended its plan to pump almost nine billion euros into its struggling carmakers at the risk of sparking a full-scale European Union dispute over protectionism. ...
Thu 12th February 2009 - 03:21am
Peugeot Citroen posts huge 2008 loss
French car-maker PSA Peugeot Citroen has posted net losses of 343 million euros $A679.34 million for 2008- and warned of more bad times this year. ...
Thu 12th February 2009 - 02:32am
First home buyers rush to market in NSW
Increases in first home owners grants and falling interest rates have led to the highest number of first home buyers purchasing homes in NSW in two decades. ...
Thu 12th February 2009 - 02:32am
UK jobless rate hits decade high
LONDONAFP AFP - Britains official unemployment rate hit the highest level for about 10 years on Wednesday- as experts warned more job cuts would come as the recession deepens. ...
Thu 12th February 2009 - 02:25am
Oil hovers under $38- IEA cuts demand forecast
LONDON- Feb 11 - Oil pared earlier gains to hover under $38 a barrel on Wednesday after the International Energy Agency said fuel demand would contract more sharply than previously thought. ...
Thu 12th February 2009 - 01:37am
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