March quarter economic data looking bad
There are further worrying signs for economic growth with exports falling at their fastest pace in two years as businesses turn their back on foreign goods. ...
Thu 5th March 2009 - 11:19pm
There are further worrying signs for economic growth with exports falling at their fastest pace in two years as businesses turn their back on foreign goods. ...
Thu 5th March 2009 - 11:19pm
Euro drops before ECB rate decision
LONDON AFP - The euro fell on Thursday when the European Central Bank ECB was expected to cut eurozone interest rates to record low levels to help stimulate the recession-hit bloc. ...
Thu 5th March 2009 - 10:45pm
LONDON AFP - The euro fell on Thursday when the European Central Bank ECB was expected to cut eurozone interest rates to record low levels to help stimulate the recession-hit bloc. ...
Thu 5th March 2009 - 10:45pm
European stocks dip before rate decisions
LONDON AFP - European equities slid on Thursday- after a mixed showing in Asia- as investors took profits and switched attention to interest rate decisions in Britain and the eurozone- analysts said. ...
Thu 5th March 2009 - 10:28pm
LONDON AFP - European equities slid on Thursday- after a mixed showing in Asia- as investors took profits and switched attention to interest rate decisions in Britain and the eurozone- analysts said. ...
Thu 5th March 2009 - 10:28pm
AB InBev expects merger to reap bigger benefits
BRUSSELS AFP - AB InBev said on Thursday that the merger last year that made the company the worlds top brewer would generate bigger benefits than expected- as it reported a 41 percent drop in 2008 profit. ...
Thu 5th March 2009 - 08:58pm
BRUSSELS AFP - AB InBev said on Thursday that the merger last year that made the company the worlds top brewer would generate bigger benefits than expected- as it reported a 41 percent drop in 2008 profit. ...
Thu 5th March 2009 - 08:58pm
Rudd flags free trade talks with Korea
Prime Minister Kevin Rudd says Australia and South Korea will start talks on a free trade deal in May. ...
Thu 5th March 2009 - 08:50pm
Prime Minister Kevin Rudd says Australia and South Korea will start talks on a free trade deal in May. ...
Thu 5th March 2009 - 08:50pm
British car sales slide 22 in February- trade data
LONDON AFP - British new car sales dived by almost 22 percent in February as the recession sapped demand- trade data showed Thursday. ...
Thu 5th March 2009 - 08:49pm
LONDON AFP - British new car sales dived by almost 22 percent in February as the recession sapped demand- trade data showed Thursday. ...
Thu 5th March 2009 - 08:49pm
Japan PM sees no bottom in sight for sinking economy
TOKYO AFP - Japan said Thursday there was no bottom in sight for Asias biggest economy as a record slump in business investment raised fears that its recession is the deepest since World War II. ...
Thu 5th March 2009 - 08:34pm
TOKYO AFP - Japan said Thursday there was no bottom in sight for Asias biggest economy as a record slump in business investment raised fears that its recession is the deepest since World War II. ...
Thu 5th March 2009 - 08:34pm
German retail sales fall in January- statistics
FRANKFURT AFP - German retail sales posted a surprise fall in January- indicating that consumer demand is still muted despite a reported rise in consumer confidence- official data showed on Thursday. ...
Thu 5th March 2009 - 08:29pm
FRANKFURT AFP - German retail sales posted a surprise fall in January- indicating that consumer demand is still muted despite a reported rise in consumer confidence- official data showed on Thursday. ...
Thu 5th March 2009 - 08:29pm
Britain waits on interest rate cut
LONDON AFP - The Bank of England was forecast Thursday to slash British interest rates to yet another record low - and embark on measures to pump more cash into the recession-hit economy. ...
Thu 5th March 2009 - 08:26pm
LONDON AFP - The Bank of England was forecast Thursday to slash British interest rates to yet another record low - and embark on measures to pump more cash into the recession-hit economy. ...
Thu 5th March 2009 - 08:26pm
Keating- fiscal stimulus has reached its limits
Former prime minister and treasurer Paul Keating says fiscal stimulus is reaching its limits and even advanced nations are at risk of debt default if they continue to amass huge budget deficits and borrowings to rescue their economies. ...
Thu 5th March 2009 - 08:21pm
Former prime minister and treasurer Paul Keating says fiscal stimulus is reaching its limits and even advanced nations are at risk of debt default if they continue to amass huge budget deficits and borrowings to rescue their economies. ...
Thu 5th March 2009 - 08:21pm
China still on track for 8pc growth- Wen
Delegates to Chinas annual session of Parliament have been told their countrys economy can still grow at 8 per cent this year. ...
Thu 5th March 2009 - 08:19pm
Delegates to Chinas annual session of Parliament have been told their countrys economy can still grow at 8 per cent this year. ...
Thu 5th March 2009 - 08:19pm
China still on track for 8pc growth- Wen
Delegates to Chinas annual session of Parliament have been told their countrys economy can still grow at 8 per cent this year. ...
Thu 5th March 2009 - 08:15pm
Delegates to Chinas annual session of Parliament have been told their countrys economy can still grow at 8 per cent this year. ...
Thu 5th March 2009 - 08:15pm
NSW electricity retailers to be privatised by years end
The New South Wales Government says it is ready to test the markets appetite for its plans to sell electricity retailers. ...
Thu 5th March 2009 - 08:14pm
The New South Wales Government says it is ready to test the markets appetite for its plans to sell electricity retailers. ...
Thu 5th March 2009 - 08:14pm
Catalpa raising money for WA gold mine
Catalpa Resources Ltd aims to complete its $100 million capital raising this month- as it moves towards commissioning its first gold mine in Western Australia. ...
Thu 5th March 2009 - 07:54pm
Catalpa Resources Ltd aims to complete its $100 million capital raising this month- as it moves towards commissioning its first gold mine in Western Australia. ...
Thu 5th March 2009 - 07:54pm
Rio Tinto shareholders angry at CEO
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to Chinalco deal. ...
Thu 5th March 2009 - 07:42pm
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to Chinalco deal. ...
Thu 5th March 2009 - 07:42pm
Construction industry fears build
Tasmanias Master Builders Association says the Federal Governments 42 billion dollar stimulus package cant come soon enough. ...
Thu 5th March 2009 - 07:33pm
Tasmanias Master Builders Association says the Federal Governments 42 billion dollar stimulus package cant come soon enough. ...
Thu 5th March 2009 - 07:33pm
Construction industry fears build
Tasmanias Master Builders Association says the Federal Governments 42 billion dollar stimulus package cant come soon enough. ...
Thu 5th March 2009 - 07:32pm
Tasmanias Master Builders Association says the Federal Governments 42 billion dollar stimulus package cant come soon enough. ...
Thu 5th March 2009 - 07:32pm
Firefighters strip in Pacific Brands protest
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 07:26pm
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 07:26pm
Mongolia to let in mining giants
Mongolia has submitted a draft agreement to allow mining giants Ivanhoe Mines and Rio Tinto to mine at one of the country's largest gold and copper deposits. ...
Thu 5th March 2009 - 07:10pm
Mongolia has submitted a draft agreement to allow mining giants Ivanhoe Mines and Rio Tinto to mine at one of the country's largest gold and copper deposits. ...
Thu 5th March 2009 - 07:10pm
Australians pay record bank fees- report
Australians pay the western world's highest banking fees- a new report says- and the opposition claims the government's doing nothing about it. ...
Thu 5th March 2009 - 07:10pm
Australians pay the western world's highest banking fees- a new report says- and the opposition claims the government's doing nothing about it. ...
Thu 5th March 2009 - 07:10pm
More SA jobs to go
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 06:51pm
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 06:51pm
Catalpa raising money for WA gold mine
Catalpa Resources Ltd aims to complete its $100 million capital raising this month- as it moves towards commissioning its first gold mine in Western Australia. ...
Thu 5th March 2009 - 06:41pm
Catalpa Resources Ltd aims to complete its $100 million capital raising this month- as it moves towards commissioning its first gold mine in Western Australia. ...
Thu 5th March 2009 - 06:41pm
Concerns raised over drilling delays
The Tasmanian Greens have used State Parliament to question the Government over its dealings with exploration company Great South Land Minerals. ...
Thu 5th March 2009 - 06:24pm
The Tasmanian Greens have used State Parliament to question the Government over its dealings with exploration company Great South Land Minerals. ...
Thu 5th March 2009 - 06:24pm
Rio chief got it 'completely wrong'
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to Chinalco deal. ...
Thu 5th March 2009 - 05:53pm
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to Chinalco deal. ...
Thu 5th March 2009 - 05:53pm
Market up for first time in five sessions
A rebound on overseas sharemarkets overnight has sent Australian stocks higher for the first time in five trading sessions. ...
Thu 5th March 2009 - 05:48pm
A rebound on overseas sharemarkets overnight has sent Australian stocks higher for the first time in five trading sessions. ...
Thu 5th March 2009 - 05:48pm
More SA jobs to go
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 05:42pm
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 05:42pm
More SA jobs to go
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 05:41pm
More than 90 jobs are in doubt at the Carl Zeiss Vision plant at Lonsdale- in Adelaides south. ...
Thu 5th March 2009 - 05:41pm
SKorea to go all-out to boost economy- govt
SEOUL AFP - South Koreas finance minister Thursday promised bold steps to revive domestic demand- implement swift corporate restructuring and save jobs in an -amp quotall-out -amp quot bid to spur the economy. ...
Thu 5th March 2009 - 05:40pm
SEOUL AFP - South Koreas finance minister Thursday promised bold steps to revive domestic demand- implement swift corporate restructuring and save jobs in an -amp quotall-out -amp quot bid to spur the economy. ...
Thu 5th March 2009 - 05:40pm
Japan's PM sees 'no bottom' in recession
Japan's Prime Minister Taro Aso says there is -amp quotno bottom in sight -amp quot for Asia's largest economy- which is deteriorating rapidly. ...
Thu 5th March 2009 - 05:34pm
Japan's Prime Minister Taro Aso says there is -amp quotno bottom in sight -amp quot for Asia's largest economy- which is deteriorating rapidly. ...
Thu 5th March 2009 - 05:34pm
Japans business investment drops at record pace
TOKYO AFP - Japanese companies are slashing their investment in plants and equipment at a record pace to cope with a worsening recession in Asias biggest economy- data showed Thursday. ...
Thu 5th March 2009 - 05:17pm
TOKYO AFP - Japanese companies are slashing their investment in plants and equipment at a record pace to cope with a worsening recession in Asias biggest economy- data showed Thursday. ...
Thu 5th March 2009 - 05:17pm
Australia shares up 0.7 pct on China stimulus hope
MELBOURNE- March 5 - Australian shares rose 0.7 percent on Thursday- with Rio Tinto Ltd RIO and other miners leading gains- as hope remained that increased spending in China could help support the global economy. ...
Thu 5th March 2009 - 05:17pm
MELBOURNE- March 5 - Australian shares rose 0.7 percent on Thursday- with Rio Tinto Ltd RIO and other miners leading gains- as hope remained that increased spending in China could help support the global economy. ...
Thu 5th March 2009 - 05:17pm
Firefighters strip in Pacific Brands protest
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 04:45pm
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 04:45pm
Stanhope flags tough economic times ahead
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 04:37pm
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 04:37pm
Agreement will give WA miners certainty
Murchison Metals says WA's midwest miners will be given the certainty of expanded infrastructure when an agreement is signed this month with state government. ...
Thu 5th March 2009 - 04:28pm
Murchison Metals says WA's midwest miners will be given the certainty of expanded infrastructure when an agreement is signed this month with state government. ...
Thu 5th March 2009 - 04:28pm
China promises vigorous spending program
China rolled out an aggressive government spending program- promising ramped-up outlays for infrastructure and social programs to ward off the global downturn. ...
Thu 5th March 2009 - 04:27pm
China rolled out an aggressive government spending program- promising ramped-up outlays for infrastructure and social programs to ward off the global downturn. ...
Thu 5th March 2009 - 04:27pm
Stanhope flags tough economic times ahead
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 04:27pm
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 04:27pm
Australia shares rise 0.7 pct Rio- BHP lead
MELBOURNE- March 5 - Australian shares rose 0.7 percent on Thursday with miners such as Rio Tinto RIO leading the gains as hope remained that increased spending in China could help support the weak global economy. ...
Thu 5th March 2009 - 04:22pm
MELBOURNE- March 5 - Australian shares rose 0.7 percent on Thursday with miners such as Rio Tinto RIO leading the gains as hope remained that increased spending in China could help support the weak global economy. ...
Thu 5th March 2009 - 04:22pm
Asian Markets Overview of March 5
Sydney- Australia- Mar 5- 2009 - ABN Newswire - Asian share markets were bolstered on hopes for Chinas further stimulus measures- which are speculated to include market-supportive moves. Shanghai Composite Index surged 6.1 while Hong Kongs Hang Seng Index rose 2.5. South Koreas Kospi was up 3.3. Japanese and Singaporean markets also shrugged off the bad lead from Wall Street- gaining 0.9 and 1 respectively. ...
Thu 5th March 2009 - 04:22pm
Sydney- Australia- Mar 5- 2009 - ABN Newswire - Asian share markets were bolstered on hopes for Chinas further stimulus measures- which are speculated to include market-supportive moves. Shanghai Composite Index surged 6.1 while Hong Kongs Hang Seng Index rose 2.5. South Koreas Kospi was up 3.3. Japanese and Singaporean markets also shrugged off the bad lead from Wall Street- gaining 0.9 and 1 respectively. ...
Thu 5th March 2009 - 04:22pm
Home lenders want buyers' grant extended
Home loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. ...
Thu 5th March 2009 - 04:14pm
Home loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. ...
Thu 5th March 2009 - 04:14pm
NSW Nationals access secret cross-border transport plans
The New South Wales Nationals have used Parliament to access a secret Cabinet document that details future cross-border public transport plans with Queensland. ...
Thu 5th March 2009 - 04:10pm
The New South Wales Nationals have used Parliament to access a secret Cabinet document that details future cross-border public transport plans with Queensland. ...
Thu 5th March 2009 - 04:10pm
Australia shares pare gains- no China stimulus news
MELBOURNE- March 5 - Australian shares pared gains on Thursday as China didnt immediately deliver on hopes for a new stimulus package to support the weak global economy when it released its annual economic plan. ...
Thu 5th March 2009 - 03:54pm
MELBOURNE- March 5 - Australian shares pared gains on Thursday as China didnt immediately deliver on hopes for a new stimulus package to support the weak global economy when it released its annual economic plan. ...
Thu 5th March 2009 - 03:54pm
China promises vigorous spending program
China rolled out an aggressive government spending program- promising ramped-up outlays for infrastructure and social programs to ward off the global downturn. ...
Thu 5th March 2009 - 03:48pm
China rolled out an aggressive government spending program- promising ramped-up outlays for infrastructure and social programs to ward off the global downturn. ...
Thu 5th March 2009 - 03:48pm
Rudd declares civil war between Turnbull- Costello
Prime Minister Kevin Rudd says Peter Costello and Malcolm Turnbull are waging a rolling civil war over industrial relations and it is inevitable that Mr Costello will oust Mr Turnbull as Liberal leader. ...
Thu 5th March 2009 - 03:47pm
Prime Minister Kevin Rudd says Peter Costello and Malcolm Turnbull are waging a rolling civil war over industrial relations and it is inevitable that Mr Costello will oust Mr Turnbull as Liberal leader. ...
Thu 5th March 2009 - 03:47pm
Housing sector 'may have turned corner'
The number of building approvals fell for a seventh straight month but economists say there are signs the housing sector may have turned the corner. ...
Thu 5th March 2009 - 03:36pm
The number of building approvals fell for a seventh straight month but economists say there are signs the housing sector may have turned the corner. ...
Thu 5th March 2009 - 03:36pm
Rudd declares civil war between Turnbull- Costello
Prime Minister Kevin Rudd says there is a rolling civil war in the Federal Opposition on the issue of industrial relations. ...
Thu 5th March 2009 - 03:34pm
Prime Minister Kevin Rudd says there is a rolling civil war in the Federal Opposition on the issue of industrial relations. ...
Thu 5th March 2009 - 03:34pm
Survey shows slump in ACT business confidence
A survey has found small businesses in the ACT recorded the second-lowest level of business confidence of any state or territory in the last quarter. ...
Thu 5th March 2009 - 03:29pm
A survey has found small businesses in the ACT recorded the second-lowest level of business confidence of any state or territory in the last quarter. ...
Thu 5th March 2009 - 03:29pm
Firefighters strip in Pacific Brands protest
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 03:28pm
Four firemen stripped to their underwear in Melbournes CBD today to protest against Pacific Brands decision to axe nearly 2-000 Australian jobs. ...
Thu 5th March 2009 - 03:28pm
Home lenders want buyers grant extended
Home loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. ...
Thu 5th March 2009 - 03:22pm
Home loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. ...
Thu 5th March 2009 - 03:22pm
Banks 'to make $5b from fees in 2009'
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 03:17pm
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 03:17pm
Housing sector 'may have turned corner'
The number of building approvals fell for a seventh straight month but economists say there are signs the housing sector may have turned the corner. ...
Thu 5th March 2009 - 03:16pm
The number of building approvals fell for a seventh straight month but economists say there are signs the housing sector may have turned the corner. ...
Thu 5th March 2009 - 03:16pm
China promises vigorous spending program
China has promised a vigorous government spending program- with increased money for infrastructure and social programs. ...
Thu 5th March 2009 - 03:12pm
China has promised a vigorous government spending program- with increased money for infrastructure and social programs. ...
Thu 5th March 2009 - 03:12pm
Alcopops tax funds should promote health- Greens
The Australian Greens say any money raised through the alcopops levy should be set aside for health promotion- even if the tax increase is not approved by Federal Parliament. ...
Thu 5th March 2009 - 02:58pm
The Australian Greens say any money raised through the alcopops levy should be set aside for health promotion- even if the tax increase is not approved by Federal Parliament. ...
Thu 5th March 2009 - 02:58pm
Alcopops tax funds should promote health- Greens
The Australian Greens say any money raised through the alcopops levy should be set aside for health promotion- even if the tax increase is not approved by Federal Parliament. ...
Thu 5th March 2009 - 02:57pm
The Australian Greens say any money raised through the alcopops levy should be set aside for health promotion- even if the tax increase is not approved by Federal Parliament. ...
Thu 5th March 2009 - 02:57pm
Cheeky trader's HD stimulus for economy
Don't know how to spend the government's latest cash splash Help is at hand with the Kevin37. ...
Thu 5th March 2009 - 02:25pm
Don't know how to spend the government's latest cash splash Help is at hand with the Kevin37. ...
Thu 5th March 2009 - 02:25pm
Need new recession definition- economist
A senior economist has called for the adoption of a new measure to indicate when a country is in recession. ...
Thu 5th March 2009 - 01:57pm
A senior economist has called for the adoption of a new measure to indicate when a country is in recession. ...
Thu 5th March 2009 - 01:57pm
Aussie banks to make $5b from fees in 09
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 01:51pm
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 01:51pm
Ampella Mining Limited ASX-AMX Gold Potential Of Batie West Enhanced By Definition Of 12.5 Km Long Geochemical Anomaly
Perth- Australia- Mar 5- 2009 - ABN Newswire - Ampella Mining Limited ASX-AMX is pleased to announce that geochemical programs over the Tiopolo Permit have returned significant gold results. Samples were collected as part of a detailed soil and auger-drilling program over the Batie West Project area in Burkina Faso- West Africa. ...
Thu 5th March 2009 - 01:50pm
Perth- Australia- Mar 5- 2009 - ABN Newswire - Ampella Mining Limited ASX-AMX is pleased to announce that geochemical programs over the Tiopolo Permit have returned significant gold results. Samples were collected as part of a detailed soil and auger-drilling program over the Batie West Project area in Burkina Faso- West Africa. ...
Thu 5th March 2009 - 01:50pm
Stanhope flags tough economic times ahead
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 01:42pm
Chief Minister Jon Stanhope says the ACT is facing difficult economic conditions and the Government will be hit hard by falling revenue in the next budget. ...
Thu 5th March 2009 - 01:42pm
Cheeky trader's HD stimulus for economy
Don't know how to spend the government's latest cash splash Help is at hand with the Kevin37. ...
Thu 5th March 2009 - 01:41pm
Don't know how to spend the government's latest cash splash Help is at hand with the Kevin37. ...
Thu 5th March 2009 - 01:41pm
Cash handouts will be used to pay down debts
Worried consumers are paying down credit card debt- paying off mortgages and saving for a rainy day rather than spending the Government stimulus package according to the Financial and Consumer Rights Council. ...
Thu 5th March 2009 - 01:41pm
Worried consumers are paying down credit card debt- paying off mortgages and saving for a rainy day rather than spending the Government stimulus package according to the Financial and Consumer Rights Council. ...
Thu 5th March 2009 - 01:41pm
Australian Market Report of March 5- Good Leads from China and the US
Sydney- Australia- Mar 5- 2009 - ABN Newswire - Overnight US shares bounced higher from 12-year lows after speculation on new stimulus plan in China. The market also was buoyed by the Obama administrations $US75 billion foreclosure relief plan- as part of the housing stimulus program announced last month.Yesterday the Australia market stayed on the red for the third consecutive day. ...
Thu 5th March 2009 - 01:35pm
Sydney- Australia- Mar 5- 2009 - ABN Newswire - Overnight US shares bounced higher from 12-year lows after speculation on new stimulus plan in China. The market also was buoyed by the Obama administrations $US75 billion foreclosure relief plan- as part of the housing stimulus program announced last month.Yesterday the Australia market stayed on the red for the third consecutive day. ...
Thu 5th March 2009 - 01:35pm
Billion-dollar coal plant mooted for Latrobe Valley
A Vietnamese company is proposing to bankroll a big coal drying plant for Victorias Latrobe Valley. ...
Thu 5th March 2009 - 01:28pm
A Vietnamese company is proposing to bankroll a big coal drying plant for Victorias Latrobe Valley. ...
Thu 5th March 2009 - 01:28pm
Anti-drink drive devices to be mandatory in SA
It will soon be mandatory for serious drink driving offenders to have alcohol interlock devices fitted to their vehicles in South Australia. ...
Thu 5th March 2009 - 01:20pm
It will soon be mandatory for serious drink driving offenders to have alcohol interlock devices fitted to their vehicles in South Australia. ...
Thu 5th March 2009 - 01:20pm
Building approval figures slump 3.7pc
The Reserve Banks recent aggressive interest rate cuts have not been able to reverse a downturn in housing construction- with the number of homes approved for building in January falling further than expected. ...
Thu 5th March 2009 - 12:46pm
The Reserve Banks recent aggressive interest rate cuts have not been able to reverse a downturn in housing construction- with the number of homes approved for building in January falling further than expected. ...
Thu 5th March 2009 - 12:46pm
Aussie dollar dips on soft data bonds pare losses
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0037 GMTagainst previous Sydney close AUD 0.6464-690.6331-36 AUDNZDR1.2813-461.2780-05 AUDJPYR 64.16-23 62 ...
Thu 5th March 2009 - 12:44pm
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0037 GMTagainst previous Sydney close AUD 0.6464-690.6331-36 AUDNZDR1.2813-461.2780-05 AUDJPYR 64.16-23 62 ...
Thu 5th March 2009 - 12:44pm
Trade surplus doubles despite export fall
Australias trade surplus more than doubled in January to $970 million. ...
Thu 5th March 2009 - 12:44pm
Australias trade surplus more than doubled in January to $970 million. ...
Thu 5th March 2009 - 12:44pm
Australian shares rise Linc- WorleyParsons climb
MELBOURNE- March 5 - Australian shares rose 1.4 percent on Thursday with miners such as BHP Billiton Ltd BHP in the lead on optimism stimulus measures from China could help ease the global recession. ...
Thu 5th March 2009 - 12:34pm
MELBOURNE- March 5 - Australian shares rose 1.4 percent on Thursday with miners such as BHP Billiton Ltd BHP in the lead on optimism stimulus measures from China could help ease the global recession. ...
Thu 5th March 2009 - 12:34pm
Anti-drink drive devices to be mandatory in SA
It will soon be mandatory for serious drink driving offenders to have alcohol interlock devices fitted to their vehicles in South Australia. ...
Thu 5th March 2009 - 12:33pm
It will soon be mandatory for serious drink driving offenders to have alcohol interlock devices fitted to their vehicles in South Australia. ...
Thu 5th March 2009 - 12:33pm
Building approvals fell 3.7 in Jan
There are further signs the government's increased grant for new home buyers is having an effect- with approvals for house building rising. ...
Thu 5th March 2009 - 12:31pm
There are further signs the government's increased grant for new home buyers is having an effect- with approvals for house building rising. ...
Thu 5th March 2009 - 12:31pm
Economic cyclone talk scaring spenders- Turnbull
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 12:31pm
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 12:31pm
Goods- services surplus at $970m in Jan
Australia's trade balance improved in January to remain in surplus for the sixth month in row. ...
Thu 5th March 2009 - 12:29pm
Australia's trade balance improved in January to remain in surplus for the sixth month in row. ...
Thu 5th March 2009 - 12:29pm
Liquidation decision looms for Drivetrain
Creditors are expected to make a decision today on whether the company Drivetrain Systems International should go into liquidation. ...
Thu 5th March 2009 - 12:22pm
Creditors are expected to make a decision today on whether the company Drivetrain Systems International should go into liquidation. ...
Thu 5th March 2009 - 12:22pm
Bankers Association says fees fairly reasonable
The Australian Bankers Association ABA says the bank fees Australian customers are charged compare favourably with other countries. ...
Thu 5th March 2009 - 12:17pm
The Australian Bankers Association ABA says the bank fees Australian customers are charged compare favourably with other countries. ...
Thu 5th March 2009 - 12:17pm
Gains ease after trade- building figures released
Gains on the Australian share market have eased after the release of weaker than expected trade and building approvals figures. ...
Thu 5th March 2009 - 12:13pm
Gains on the Australian share market have eased after the release of weaker than expected trade and building approvals figures. ...
Thu 5th March 2009 - 12:13pm
Gains ease after trade- building figures released
Gains on the Australian share market have eased after the release of weaker than expected trade and building approvals figures. ...
Thu 5th March 2009 - 12:12pm
Gains on the Australian share market have eased after the release of weaker than expected trade and building approvals figures. ...
Thu 5th March 2009 - 12:12pm
Rio shareholders unhappy with Chinalco
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to the Chinalco deal. ...
Thu 5th March 2009 - 11:56am
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to the Chinalco deal. ...
Thu 5th March 2009 - 11:56am
Aussie banks to make $5b from fees in 09
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 11:51am
Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis- a researcher forecasts. ...
Thu 5th March 2009 - 11:51am
Building approvals fell 3.7 in Jan
Australian building approvals fell 3.7 per cent to 9-312 units in January- seasonally adjusted- from an upwardly revised 9-666 units in December- figures show. ...
Thu 5th March 2009 - 11:51am
Australian building approvals fell 3.7 per cent to 9-312 units in January- seasonally adjusted- from an upwardly revised 9-666 units in December- figures show. ...
Thu 5th March 2009 - 11:51am
Sensis index shows business confidence steadying
There are indications business confidence has hit a low and is now stabilising. ...
Thu 5th March 2009 - 11:50am
There are indications business confidence has hit a low and is now stabilising. ...
Thu 5th March 2009 - 11:50am
Economic cyclone talk scaring spenders- Turnbull
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:47am
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:47am
HSBC Australia's profit up 42 per cent
HSBC Australia booked a 42 per cent jump in its full year 2008 pre-tax profit to $US176 million $A274.33 million on a profit surge. ...
Thu 5th March 2009 - 11:46am
HSBC Australia booked a 42 per cent jump in its full year 2008 pre-tax profit to $US176 million $A274.33 million on a profit surge. ...
Thu 5th March 2009 - 11:46am
Goods- services surplus at $970m in Jan
The Australian balance of goods and services was a surplus of $970 million- seasonally adjusted- in January- Australian Bureau of Statistics figures show. ...
Thu 5th March 2009 - 11:39am
The Australian balance of goods and services was a surplus of $970 million- seasonally adjusted- in January- Australian Bureau of Statistics figures show. ...
Thu 5th March 2009 - 11:39am
Economic cyclone talk scaring spenders- Turnbull
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:34am
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:34am
Economic cyclone talk scaring spenders- Turnbull
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:25am
Pressure is mounting on the Government over its actions to avoid recession- amid Opposition accusations that Australians have been frightened into not spending cash handouts. ...
Thu 5th March 2009 - 11:25am
Australia shares up 1.1 pct- miners lead gains
MELBOURNE- March 5 - Australian shares rose 1.1 percent on Thursday with miners such as BHP Billiton Ltd BHP leading the gains amid talk of more stimulus measures from China that could help ease the global recession. ...
Thu 5th March 2009 - 11:15am
MELBOURNE- March 5 - Australian shares rose 1.1 percent on Thursday with miners such as BHP Billiton Ltd BHP leading the gains amid talk of more stimulus measures from China that could help ease the global recession. ...
Thu 5th March 2009 - 11:15am
Farmers get raw deal on rates- report
A financial report says farmers and rural businesses are struggling as they face higher interest rates than home buyers. ...
Thu 5th March 2009 - 10:56am
A financial report says farmers and rural businesses are struggling as they face higher interest rates than home buyers. ...
Thu 5th March 2009 - 10:56am
Home buyers favoured with rate cuts- farmers
A financial report says farmers and rural businesses are struggling as they face higher interest rates than home buyers. ...
Thu 5th March 2009 - 10:54am
A financial report says farmers and rural businesses are struggling as they face higher interest rates than home buyers. ...
Thu 5th March 2009 - 10:54am
Ford to buy back 1.8 billion in debt amid restructuring
CHICAGO AFP - Ford Motor Co. announced plans Wednesday to buy back 1. ...
Thu 5th March 2009 - 10:46am
CHICAGO AFP - Ford Motor Co. announced plans Wednesday to buy back 1. ...
Thu 5th March 2009 - 10:46am
Australian banks collect $5b in fees
A survey has found Australians pay an average of 22 per cent more in bank fees than British customers and 11 per cent more than Americans. ...
Thu 5th March 2009 - 10:43am
A survey has found Australians pay an average of 22 per cent more in bank fees than British customers and 11 per cent more than Americans. ...
Thu 5th March 2009 - 10:43am
Chrysler minivan sales slump forces job cuts in Canada
OTTAWA AFP - US automaker Chrysler announced Wednesday it is eliminating a shift at its Windsor- Ontario minivan assembly plant- leaving 1-200 people jobless as sales of its iconic people-mover continue to sag. ...
Thu 5th March 2009 - 10:40am
OTTAWA AFP - US automaker Chrysler announced Wednesday it is eliminating a shift at its Windsor- Ontario minivan assembly plant- leaving 1-200 people jobless as sales of its iconic people-mover continue to sag. ...
Thu 5th March 2009 - 10:40am
Miners leading local rally
Mining stocks have led the Australian share market higher after optimism about economic stimulus measures in China helped boost Wall Street overnight. ...
Thu 5th March 2009 - 10:38am
Mining stocks have led the Australian share market higher after optimism about economic stimulus measures in China helped boost Wall Street overnight. ...
Thu 5th March 2009 - 10:38am
Rio shareholders unhappy with Chinalco
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to the Chinalco deal. ...
Thu 5th March 2009 - 10:37am
Angry Rio Tinto shareholders have labelled as -amp quotcompletely wrong -amp quot suggestions by chief executive Tom Albanese that investors are warming to the Chinalco deal. ...
Thu 5th March 2009 - 10:37am
Local market up in early trade
The Australian share market is up more than 1 per cent in early trading after a solid recovery on Wall Street overnight. ...
Thu 5th March 2009 - 10:37am
The Australian share market is up more than 1 per cent in early trading after a solid recovery on Wall Street overnight. ...
Thu 5th March 2009 - 10:37am
Figures show drop in Horsham- Bendigo house prices
State Government figures show average house prices in country Victoria dropped 2 per cent between July and September last year. ...
Thu 5th March 2009 - 10:29am
State Government figures show average house prices in country Victoria dropped 2 per cent between July and September last year. ...
Thu 5th March 2009 - 10:29am
Aussie dlr hovers at 2-mth peak vs yen on China talk
SYDNEY- March 5 - The Australian dollar AUD held near a two-month high against the yen on Thursday as financial markets dared to hope for a pick-up in Chinas economy that would help ease the global economic crisis. ...
Thu 5th March 2009 - 10:28am
SYDNEY- March 5 - The Australian dollar AUD held near a two-month high against the yen on Thursday as financial markets dared to hope for a pick-up in Chinas economy that would help ease the global economic crisis. ...
Thu 5th March 2009 - 10:28am
ASIC extends short selling ban
The Australian Securities and Investments Commission ASIC has announced it will extend the ban on short selling of financial securities until the end of May. ...
Thu 5th March 2009 - 10:21am
The Australian Securities and Investments Commission ASIC has announced it will extend the ban on short selling of financial securities until the end of May. ...
Thu 5th March 2009 - 10:21am
Australia shares rise 1 pct- miners lead
MELBOURNE- March 5 - Australian shares rose 1 percent on Thursday with miners such as BHP Billiton Ltd BHP leading the gains amid optimism more stimulus measures from China would help ease the global recession. ...
Thu 5th March 2009 - 10:20am
MELBOURNE- March 5 - Australian shares rose 1 percent on Thursday with miners such as BHP Billiton Ltd BHP leading the gains amid optimism more stimulus measures from China would help ease the global recession. ...
Thu 5th March 2009 - 10:20am
V-Line regrets train delays
V-Line says two problems combined to delay all morning train services on the Bendigo and Swan Hill lines yesterday. ...
Thu 5th March 2009 - 10:20am
V-Line says two problems combined to delay all morning train services on the Bendigo and Swan Hill lines yesterday. ...
Thu 5th March 2009 - 10:20am
Contract saves 120 Portland jobs
About 120 jobs have been saved at Portland company Keppel Prince which makes towers for wind turbines. ...
Thu 5th March 2009 - 10:19am
About 120 jobs have been saved at Portland company Keppel Prince which makes towers for wind turbines. ...
Thu 5th March 2009 - 10:19am
Britains ITV to axe 600 jobs
Britains biggest and oldest commercial broadcaster- ITV- says it will be cutting 600 jobs after a 41 per cent drop in profits. ...
Thu 5th March 2009 - 10:11am
Britains biggest and oldest commercial broadcaster- ITV- says it will be cutting 600 jobs after a 41 per cent drop in profits. ...
Thu 5th March 2009 - 10:11am
Ukrainian gas raid 'hurt Russia deal'
Armed security agents searched the headquarters of Ukraine's natural gas company in a raid that the firm says threatened a deal with Russia over gas supplies. ...
Thu 5th March 2009 - 09:58am
Armed security agents searched the headquarters of Ukraine's natural gas company in a raid that the firm says threatened a deal with Russia over gas supplies. ...
Thu 5th March 2009 - 09:58am
Obama aims to save billions in federal contracts
WASHINGTON AFP - US President Barack Obama on Wednesday outlined a plan to save tens of billion dollars a year in wasteful government spending- especially targeting bloated defense contracting. ...
Thu 5th March 2009 - 09:51am
WASHINGTON AFP - US President Barack Obama on Wednesday outlined a plan to save tens of billion dollars a year in wasteful government spending- especially targeting bloated defense contracting. ...
Thu 5th March 2009 - 09:51am
Flags mark Korean visit
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:50am
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:50am
UBS defies US demands on secret accounts
WASHINGTON AFP - Banking giant UBS Wednesday defied pressure to name about 50-000 Americans holding secret bank accounts in Switzerland as the nations financial culture came under a withering fire. ...
Thu 5th March 2009 - 09:48am
WASHINGTON AFP - Banking giant UBS Wednesday defied pressure to name about 50-000 Americans holding secret bank accounts in Switzerland as the nations financial culture came under a withering fire. ...
Thu 5th March 2009 - 09:48am
Australian banks collect $5b in fees
A survey has found Australians pay an average of 22 per cent more in bank fees than British customers and 11 per cent more than Americans. ...
Thu 5th March 2009 - 09:40am
A survey has found Australians pay an average of 22 per cent more in bank fees than British customers and 11 per cent more than Americans. ...
Thu 5th March 2009 - 09:40am
Central Market lease plan stalls
An Adelaide City Council advisory committee is divided over a proposal for 10-year leases for Central Market traders. ...
Thu 5th March 2009 - 09:32am
An Adelaide City Council advisory committee is divided over a proposal for 10-year leases for Central Market traders. ...
Thu 5th March 2009 - 09:32am
Economic slump blamed for fall in jobs training
There has been a big fall in the number of students taking up apprenticeships and traineeships in Western Australia- with the global financial crisis putting an end to a 5 year training boom.From 2003 ...
Thu 5th March 2009 - 09:31am
There has been a big fall in the number of students taking up apprenticeships and traineeships in Western Australia- with the global financial crisis putting an end to a 5 year training boom.From 2003 ...
Thu 5th March 2009 - 09:31am
GE dismisses report on capital need as speculation
NEW YORK AFP - As it stock price tumbled to fresh lows- General Electric on Wednesday dismissed reports that it would have to raise new capital as -amp quotpure speculation -amp quot and inaccurate. ...
Thu 5th March 2009 - 09:28am
NEW YORK AFP - As it stock price tumbled to fresh lows- General Electric on Wednesday dismissed reports that it would have to raise new capital as -amp quotpure speculation -amp quot and inaccurate. ...
Thu 5th March 2009 - 09:28am
Flags mark Korean visit
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:28am
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:28am
Flags mark Korean visit
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:27am
Korean flags are flying across Canberras CBD today to mark the visit of the President of the Republic of Korea- Lee Myung-bak. ...
Thu 5th March 2009 - 09:27am
Linc Energy Limited ASX-LNC Still In Active Negotiations Concerning The Purchase Of Queensland Coal Tenement
Brisbane- Australia- Mar 4- 2009 - ABN Newswire - Linc Energy Limited ASX-LNCPINK-LNCYF wishes to confirm that it is still in active negotiations with our Chinese counterparts concerning the purchase of its Emerald Teresa coal tenements in Queensland. ...
Thu 5th March 2009 - 09:24am
Brisbane- Australia- Mar 4- 2009 - ABN Newswire - Linc Energy Limited ASX-LNCPINK-LNCYF wishes to confirm that it is still in active negotiations with our Chinese counterparts concerning the purchase of its Emerald Teresa coal tenements in Queensland. ...
Thu 5th March 2009 - 09:24am
Passengers offered counselling after fatal bus crash
Two people remain in hospital after yesterdays fatal bus crash on the Sunshine Coast. ...
Thu 5th March 2009 - 09:12am
Two people remain in hospital after yesterdays fatal bus crash on the Sunshine Coast. ...
Thu 5th March 2009 - 09:12am
A Big Day For China
Later today or tomorrow we will get the first official news from China on how the Government wants to see the countrys economy to perform this year.The Chinese Premier Wen Jiabao is widely expected to announce a target growth rate for the year- targets for inflation no longer a big concern and estimates for a host of other measures.He could also reveal additional spending plans and policy changes to help the countrys economy recover- and to make sure the $US586 billion stimulus package of last November remains on track.Reports of a possible new spending package ignored the question- why- if the one last November was supposed to be big enough.But markets around the world rose sharply- 4 or more in Europe- 3 in the US and then a late fall to around a gain of 2.2. Copper jumped 7- oil by 9. For the second time in four months- China will ride to the rescue of the global economy. Maybe. -amp 160Some Beijing reports say the Chinese Premier will reveal a high lift in the budget deficit for 2009 to meet the upturn in spending on the economy and welfare.The speech by the Premier to the annual meeting of the National Peoples Congress is usually a final- sanitised version of debate that has gone on inside the upper levels of the party and the government for the past several months.The figures-targets and policy changes and new measures are hard and prescriptive- not maybes.The Congress has already been reported as spending a lot of time on welfare- unemployment and the question of social unrest.What the Premier says is a growth target for this year will give us a big clue as to how the Chinese feel the economy will travel- and where the supposed recovery is right now. -amp 160If more spending is announced- then that will be tacit acknowledgement that last Novembers package wasnt enough- or didnt contain enough new spending items.The nominal Chinese target has been annual GDP growth of 8- that is said to be the rate at which the economy grows fast enough to absorb unemployment and generate jobs- high levels of income- domestically and internationally- and to keep inflation and social unrest in place.It hasnt been the case in the past few years as growth surged- and then fell towards the end of last year. 4th quarter GDP grew at 6.8 annual- against a near 13 rate in 2007 and probably higher for a couple of quarters.An 8 target will be a signal that the government is being conservative and acknowledging that the economy might grow more slowly than that- before rebounding at the end of the year. That is certainly the expectation among some analysts in the west.But export figures for January and imports were down sharply- pointing to a tough start to the year. Japanese exports to China and Asia fell by more than 40- a sign that the slump is not going away- despite whatever surveys and reports from within China might say.Much attention will be on iron ore price negotiations and coking and thermal coal contract renewals as well. Theres a feeling the iron ore companies are going to delay settling prices until steel demand and prices are in solid recovery- that could mean a delay of months.The idea is that the longer they wait- the smaller the cut- already the spot price for iron ore has risen from around $US65 a tonne to around $US80 a tonne- leading to a chorus of forecasts here in Australia for cuts of 20-30. Four months ago the same analysts were wondering about 40 cuts and deeper.That is of course based on the consensus that the Chinese economy rebounds and that Chinese steel output rises from the current low levels. Just what the basis for such consensus is hard to find. Certainly Posco- the big South Korean steel maker is keeping its steel output cuts going through the second quarter. Japanese steel output is down this quarter- as is that of the worlds biggest steelmaker- Arcelor Mittal.These companies supply the car- construction and whitegoods industries- so far there are no signs of any upturn in demand from these huge buyers. As we saw yesterday- US car sales fell in February and Ford and GM are cutting second quarter production levels- meaning less steel will be needed. Cuts will happen across Europe as well and in Japan. Toyota is looking at a 12 cut in global output in the year starting April 1.Bloomberg reported this week that a glut of steel at ports in China shows mills were too quick to boost output on expectations the stimulus package unveiled in November would spur demand.According to a report from the Bank of Nova Scotia and Bloomberg- steel stockpiles at Shanghais main port have jumped 44 this year to 2.1 million tonnes last week.It was that upturn in output that led to those stories about Chinas bounce and caused spot iron ore and coking coal prices to rise. if thats the consensus for a second half rally in the Chinese steel sector and economy and lower price cuts- then the industry could be fooling themselves.If there is one thing this slump has shown- its deeper than anyone thought in every country- with some never seen before impacts on industries across the board. It is co-ordinated and it is powerful and no economy on earth has been able to stand against the trend for longer than a quarter or two.In China- the development to look for is some evidence of a rebound in real estate construction and commercial property- both remain depressed and unemployment has risen as a result.Thats why yesterdays manufacturing index from China should be viewed a bit sceptically.The index rose for a third month- which analysts took as a sign recovery might be closer.The Purchasing managers Index rose to a seasonally adjusted 49 in February from 45.3 in January. Reading below 50 indicates a contraction.Output and new orders expanded for the first time in five months.With bank lending rising and driving the stockmarket higher- retail sales higher- some analysts are seeing an up turn in the offing. But manufacturing contracted for a fifth straight month. However- the overall index is up from a record low of 38.8 in November.The output index jumped to 51.2 from 45.5 in January and the new-order index climbed to 50.4 from 45.A measure of export orders rose to 43.4 from 33.7. The employment index rose to 46.1 from 43- the first increase in six months.But China will go nowhere and the recovery will peter out if theres no rebound from major economies such as the US- not to pull China up- but to generate enough demand to allow higher levels of output to be maintained. -amp 160 ...
Thu 5th March 2009 - 08:58am
Later today or tomorrow we will get the first official news from China on how the Government wants to see the countrys economy to perform this year.The Chinese Premier Wen Jiabao is widely expected to announce a target growth rate for the year- targets for inflation no longer a big concern and estimates for a host of other measures.He could also reveal additional spending plans and policy changes to help the countrys economy recover- and to make sure the $US586 billion stimulus package of last November remains on track.Reports of a possible new spending package ignored the question- why- if the one last November was supposed to be big enough.But markets around the world rose sharply- 4 or more in Europe- 3 in the US and then a late fall to around a gain of 2.2. Copper jumped 7- oil by 9. For the second time in four months- China will ride to the rescue of the global economy. Maybe. -amp 160Some Beijing reports say the Chinese Premier will reveal a high lift in the budget deficit for 2009 to meet the upturn in spending on the economy and welfare.The speech by the Premier to the annual meeting of the National Peoples Congress is usually a final- sanitised version of debate that has gone on inside the upper levels of the party and the government for the past several months.The figures-targets and policy changes and new measures are hard and prescriptive- not maybes.The Congress has already been reported as spending a lot of time on welfare- unemployment and the question of social unrest.What the Premier says is a growth target for this year will give us a big clue as to how the Chinese feel the economy will travel- and where the supposed recovery is right now. -amp 160If more spending is announced- then that will be tacit acknowledgement that last Novembers package wasnt enough- or didnt contain enough new spending items.The nominal Chinese target has been annual GDP growth of 8- that is said to be the rate at which the economy grows fast enough to absorb unemployment and generate jobs- high levels of income- domestically and internationally- and to keep inflation and social unrest in place.It hasnt been the case in the past few years as growth surged- and then fell towards the end of last year. 4th quarter GDP grew at 6.8 annual- against a near 13 rate in 2007 and probably higher for a couple of quarters.An 8 target will be a signal that the government is being conservative and acknowledging that the economy might grow more slowly than that- before rebounding at the end of the year. That is certainly the expectation among some analysts in the west.But export figures for January and imports were down sharply- pointing to a tough start to the year. Japanese exports to China and Asia fell by more than 40- a sign that the slump is not going away- despite whatever surveys and reports from within China might say.Much attention will be on iron ore price negotiations and coking and thermal coal contract renewals as well. Theres a feeling the iron ore companies are going to delay settling prices until steel demand and prices are in solid recovery- that could mean a delay of months.The idea is that the longer they wait- the smaller the cut- already the spot price for iron ore has risen from around $US65 a tonne to around $US80 a tonne- leading to a chorus of forecasts here in Australia for cuts of 20-30. Four months ago the same analysts were wondering about 40 cuts and deeper.That is of course based on the consensus that the Chinese economy rebounds and that Chinese steel output rises from the current low levels. Just what the basis for such consensus is hard to find. Certainly Posco- the big South Korean steel maker is keeping its steel output cuts going through the second quarter. Japanese steel output is down this quarter- as is that of the worlds biggest steelmaker- Arcelor Mittal.These companies supply the car- construction and whitegoods industries- so far there are no signs of any upturn in demand from these huge buyers. As we saw yesterday- US car sales fell in February and Ford and GM are cutting second quarter production levels- meaning less steel will be needed. Cuts will happen across Europe as well and in Japan. Toyota is looking at a 12 cut in global output in the year starting April 1.Bloomberg reported this week that a glut of steel at ports in China shows mills were too quick to boost output on expectations the stimulus package unveiled in November would spur demand.According to a report from the Bank of Nova Scotia and Bloomberg- steel stockpiles at Shanghais main port have jumped 44 this year to 2.1 million tonnes last week.It was that upturn in output that led to those stories about Chinas bounce and caused spot iron ore and coking coal prices to rise. if thats the consensus for a second half rally in the Chinese steel sector and economy and lower price cuts- then the industry could be fooling themselves.If there is one thing this slump has shown- its deeper than anyone thought in every country- with some never seen before impacts on industries across the board. It is co-ordinated and it is powerful and no economy on earth has been able to stand against the trend for longer than a quarter or two.In China- the development to look for is some evidence of a rebound in real estate construction and commercial property- both remain depressed and unemployment has risen as a result.Thats why yesterdays manufacturing index from China should be viewed a bit sceptically.The index rose for a third month- which analysts took as a sign recovery might be closer.The Purchasing managers Index rose to a seasonally adjusted 49 in February from 45.3 in January. Reading below 50 indicates a contraction.Output and new orders expanded for the first time in five months.With bank lending rising and driving the stockmarket higher- retail sales higher- some analysts are seeing an up turn in the offing. But manufacturing contracted for a fifth straight month. However- the overall index is up from a record low of 38.8 in November.The output index jumped to 51.2 from 45.5 in January and the new-order index climbed to 50.4 from 45.A measure of export orders rose to 43.4 from 33.7. The employment index rose to 46.1 from 43- the first increase in six months.But China will go nowhere and the recovery will peter out if theres no rebound from major economies such as the US- not to pull China up- but to generate enough demand to allow higher levels of output to be maintained. -amp 160 ...
Thu 5th March 2009 - 08:58am
Aussie Car Sales Slow
The Australian car industry continues to bear the brunt of the economic downturn- with new car sales down 22 last month- but we are a long way from the misery being experienced in Europe and especially the US.US sales fell 41 last month after a 37 slide in January our industrys fall was 21.9 last month and 18.5 in January.US sales are now at an annual rate of just over 9.1 million units a year- compared to 15.3 million in the same month of last year and a falling 13.2 million for all of 2008.Our falls are steep and accelerating but so far they are not the plunge into depression levels being experienced in the US And in Spain- Europes 4th biggest car market where sales last month fell 49.Local sales are 20 lower over the first two months of 2009 than they were in the same period of 2008. Its the smallest sales figure for the first two months of any year since 2002.Februarys fall was second behind Novembers 22.2 fall- according to figures from the Federated Chamber of Automotive Industries.Here it was across the board weakness- with fleet sales to the rental industry following the US trend and sliding. But unlike other markets- some brands lifted sales- Hyundai for example. It was also the best performer in the US.Four-wheel-drives and prestige vehicles so-called super luxury vehicles were the worst hit last month- with sales large 4WD sales almost halving in the month. -amp 160So big was the fall among luxury cars- that some sold less than half the number they did a year ago- partly due to falling demand- but also to the August tax rise for these vehicles.Australias big two US owned locally built cars- the Holden Commodore and Ford Falcon did OK- sales down- but not as much as for some makers. -amp 160The Commodore is now back as the countrys number one selling car despite a 22 drop in sales. Sales of the Ford Falcon were down by just 5. Sales of Fords Territory fell a nasty 40.Toyota is still number one- but its Aurion large car model fell 40 that goes with poor sales in the US and exports from Japan.But in comparison with the United States market- the local industry is holding up well. General Motors US sales were down by 53- Fords by 48 and Toyotas 40.The Chambers figures showed that -amp 16070-241 passenger cars- SUVs and commercial vehicles were sold in February 2009 - down 21.9- or 19-657 vehicles- compared to the same month in 2008. -amp quotThis result is consistent with the trend of recent months and reflects the impact of broader economic conditions on the new vehicle market- -amp quot FCAI Chief Executive Andrew McKellar said.The industry is urging potential car buyers to consider the significant opportunities that exist in the marketplace and to take advantage of recently announced measures to stimulate the economy. -amp quotThe Federal Government has taken action to provide businesses with a considerable tax break when they invest in assets- including new vehicles- -amp quot Mr McKellar said.Many businesses will be able to claim a deduction of up to 30 per cent of the cost of an eligible new vehicle purchased before 30 June 2009. -amp quotThe tax break provides a significant boost to business and will help encourage investment and broader economic activity- -amp quot he said.Toyota was Australias best-selling brand in February with 14-274 vehicles 20.3 market share followed by Holden with 9-029 12.9 of the market and Ford with 7-396 vehicle sales 10.5 share.Smaller- more fuel efficient cars fared better than most in February- with the Mazda3 and Toyota Corolla both outselling Falcon.The slump in the 4WD market- which had been growing strongly as importers battled it out in the diesel four by four market to small business meant Toyota suffered more than most- with sales down by more than 30.Sales of work utility type vehicles were also down significantly- reflecting the overall drop in business confidence.Fusion Strategy in Sydney said only two major brands recorded sales increases in the first two months of this year- Hyundai and up and Volkswagens prestige brand Audi. Another Volkswagen brand- Skoda did well- as did Fiat of Italy which owns the sinking Alfa.In February- strong sales campaigns for Mercedes and Dodge lifted sales- but Proton of Malaysia- Alfa Romeo of Italy and Saab battled to sell vehicles. Volvo- BMW- Suzuki- Peugeot and Lexus all suffered sales falls of between 16 and more than 30.Saab is for all intents and purposes a ward of the Swedish Government following its abandonment by parent- GM.Unless someone comes up with the cash- its likely the company will linger in Government control for years- or be closed to save money. -amp 160 ...
Thu 5th March 2009 - 08:53am
The Australian car industry continues to bear the brunt of the economic downturn- with new car sales down 22 last month- but we are a long way from the misery being experienced in Europe and especially the US.US sales fell 41 last month after a 37 slide in January our industrys fall was 21.9 last month and 18.5 in January.US sales are now at an annual rate of just over 9.1 million units a year- compared to 15.3 million in the same month of last year and a falling 13.2 million for all of 2008.Our falls are steep and accelerating but so far they are not the plunge into depression levels being experienced in the US And in Spain- Europes 4th biggest car market where sales last month fell 49.Local sales are 20 lower over the first two months of 2009 than they were in the same period of 2008. Its the smallest sales figure for the first two months of any year since 2002.Februarys fall was second behind Novembers 22.2 fall- according to figures from the Federated Chamber of Automotive Industries.Here it was across the board weakness- with fleet sales to the rental industry following the US trend and sliding. But unlike other markets- some brands lifted sales- Hyundai for example. It was also the best performer in the US.Four-wheel-drives and prestige vehicles so-called super luxury vehicles were the worst hit last month- with sales large 4WD sales almost halving in the month. -amp 160So big was the fall among luxury cars- that some sold less than half the number they did a year ago- partly due to falling demand- but also to the August tax rise for these vehicles.Australias big two US owned locally built cars- the Holden Commodore and Ford Falcon did OK- sales down- but not as much as for some makers. -amp 160The Commodore is now back as the countrys number one selling car despite a 22 drop in sales. Sales of the Ford Falcon were down by just 5. Sales of Fords Territory fell a nasty 40.Toyota is still number one- but its Aurion large car model fell 40 that goes with poor sales in the US and exports from Japan.But in comparison with the United States market- the local industry is holding up well. General Motors US sales were down by 53- Fords by 48 and Toyotas 40.The Chambers figures showed that -amp 16070-241 passenger cars- SUVs and commercial vehicles were sold in February 2009 - down 21.9- or 19-657 vehicles- compared to the same month in 2008. -amp quotThis result is consistent with the trend of recent months and reflects the impact of broader economic conditions on the new vehicle market- -amp quot FCAI Chief Executive Andrew McKellar said.The industry is urging potential car buyers to consider the significant opportunities that exist in the marketplace and to take advantage of recently announced measures to stimulate the economy. -amp quotThe Federal Government has taken action to provide businesses with a considerable tax break when they invest in assets- including new vehicles- -amp quot Mr McKellar said.Many businesses will be able to claim a deduction of up to 30 per cent of the cost of an eligible new vehicle purchased before 30 June 2009. -amp quotThe tax break provides a significant boost to business and will help encourage investment and broader economic activity- -amp quot he said.Toyota was Australias best-selling brand in February with 14-274 vehicles 20.3 market share followed by Holden with 9-029 12.9 of the market and Ford with 7-396 vehicle sales 10.5 share.Smaller- more fuel efficient cars fared better than most in February- with the Mazda3 and Toyota Corolla both outselling Falcon.The slump in the 4WD market- which had been growing strongly as importers battled it out in the diesel four by four market to small business meant Toyota suffered more than most- with sales down by more than 30.Sales of work utility type vehicles were also down significantly- reflecting the overall drop in business confidence.Fusion Strategy in Sydney said only two major brands recorded sales increases in the first two months of this year- Hyundai and up and Volkswagens prestige brand Audi. Another Volkswagen brand- Skoda did well- as did Fiat of Italy which owns the sinking Alfa.In February- strong sales campaigns for Mercedes and Dodge lifted sales- but Proton of Malaysia- Alfa Romeo of Italy and Saab battled to sell vehicles. Volvo- BMW- Suzuki- Peugeot and Lexus all suffered sales falls of between 16 and more than 30.Saab is for all intents and purposes a ward of the Swedish Government following its abandonment by parent- GM.Unless someone comes up with the cash- its likely the company will linger in Government control for years- or be closed to save money. -amp 160 ...
Thu 5th March 2009 - 08:53am
Lihir Goes After Half A Billion Dollars
Lihir Gold is the latest Australian mining company to try and mine the market for fresh capital to finance a new project.It follows mining peer- Newcrest- which raised around half a billion dollars last month to help finance its expansion plans in Australia and PNG.Yesterday Lihir shares were suspended at $3.31 after it announced it was looking for around $US325 million $506.55 million.Even though world gold prices have weakened to around $US900 an ounce from over $US1-000 an ounce late last month- gold is still in strong demand from investors looking for a hedge against the current global economic instability. That is one of the selling points for Lihir in its issue.The miner said the proceeds would be used to accelerate the expansion of its Lihir Island mine in Papua New Guinea- taking advantage of lower prices for mining equipment and services brought about by current downturn in the mining industry. The so-called Million Ounce Plant Upgrade- or MOPU.Lihir CEO- Arthur Hood sees a bargain out there amid the wreckage- and wants the financial firepower to pay for these never to be had deals. -amp quotThe recent downturn in global commodity markets has significantly reduced demand for mining industry equipment- process plant components and steel fabrication- which has led to more competitive pricing and created the opportunity for some stages of the Lihir Island expansion to be brought forward. -amp quotThese include earlier installation of crushing- oxygen production- grinding- leaching and water supply facilities- -amp quot he said. -amp quotThe accelerated installation of these elements will potentially lead to marginal increases in production in 2010 and 2011 through improvements in processing rates and recoveries. -amp quotImportantly however- they will reduce operational risk by duplicating key parts of the processing chain and enhancing plant reliability. -amp quotThey also will help to ensure the MOPU project is completed on time and within budget. -amp quot -amp quotIn addition- the company will be well placed to proceed with expansion opportunities that are developing in West Africa- where our extensive exploration campaign recently led to increases in resources- -amp quot he said.It will also provide -amp quotcontinued financial strength and flexibility -amp quot for the group- the company said. -amp quotFollowing the capital raising- the company will have significant cash reserves and strong operating cashflows available to underpin capital commitments. -amp quotIn addition- the company intends to increase its existing debt facilities currently undrawn when market conditions become more attractive- providing further financial flexibility to pursue other growth opportunities as they arise- -amp quot Lihir told the ASXThe placement will be conducted through an institutional bookbuild and will be available only to accredited or sophisticated investors- Lihir said.The new shares will be issued on March 12- 2009- and will rank equally with existing Lihir shares.The accelerated construction schedule for Lihir Island is expected to bring forward approximately $US50 million $77.93 million in capital spending into 2009- increasing the forecast annual capital spending to approximately $US200 million $311.72 million.The project capital spending in 2010 is estimated to be approximately $US350 million $545.51 million.After the share placement- Lihir will offer retail shareholders the opportunity to participate in a non-underwritten share purchase plan- the company said.Shareholders will be able to subscribe for up to $5000 worth of Lihir shares. ...
Thu 5th March 2009 - 08:49am
Lihir Gold is the latest Australian mining company to try and mine the market for fresh capital to finance a new project.It follows mining peer- Newcrest- which raised around half a billion dollars last month to help finance its expansion plans in Australia and PNG.Yesterday Lihir shares were suspended at $3.31 after it announced it was looking for around $US325 million $506.55 million.Even though world gold prices have weakened to around $US900 an ounce from over $US1-000 an ounce late last month- gold is still in strong demand from investors looking for a hedge against the current global economic instability. That is one of the selling points for Lihir in its issue.The miner said the proceeds would be used to accelerate the expansion of its Lihir Island mine in Papua New Guinea- taking advantage of lower prices for mining equipment and services brought about by current downturn in the mining industry. The so-called Million Ounce Plant Upgrade- or MOPU.Lihir CEO- Arthur Hood sees a bargain out there amid the wreckage- and wants the financial firepower to pay for these never to be had deals. -amp quotThe recent downturn in global commodity markets has significantly reduced demand for mining industry equipment- process plant components and steel fabrication- which has led to more competitive pricing and created the opportunity for some stages of the Lihir Island expansion to be brought forward. -amp quotThese include earlier installation of crushing- oxygen production- grinding- leaching and water supply facilities- -amp quot he said. -amp quotThe accelerated installation of these elements will potentially lead to marginal increases in production in 2010 and 2011 through improvements in processing rates and recoveries. -amp quotImportantly however- they will reduce operational risk by duplicating key parts of the processing chain and enhancing plant reliability. -amp quotThey also will help to ensure the MOPU project is completed on time and within budget. -amp quot -amp quotIn addition- the company will be well placed to proceed with expansion opportunities that are developing in West Africa- where our extensive exploration campaign recently led to increases in resources- -amp quot he said.It will also provide -amp quotcontinued financial strength and flexibility -amp quot for the group- the company said. -amp quotFollowing the capital raising- the company will have significant cash reserves and strong operating cashflows available to underpin capital commitments. -amp quotIn addition- the company intends to increase its existing debt facilities currently undrawn when market conditions become more attractive- providing further financial flexibility to pursue other growth opportunities as they arise- -amp quot Lihir told the ASXThe placement will be conducted through an institutional bookbuild and will be available only to accredited or sophisticated investors- Lihir said.The new shares will be issued on March 12- 2009- and will rank equally with existing Lihir shares.The accelerated construction schedule for Lihir Island is expected to bring forward approximately $US50 million $77.93 million in capital spending into 2009- increasing the forecast annual capital spending to approximately $US200 million $311.72 million.The project capital spending in 2010 is estimated to be approximately $US350 million $545.51 million.After the share placement- Lihir will offer retail shareholders the opportunity to participate in a non-underwritten share purchase plan- the company said.Shareholders will be able to subscribe for up to $5000 worth of Lihir shares. ...
Thu 5th March 2009 - 08:49am
Greens urge govt against public service cuts
The ACT Government has been urged to step up the fight against federal public service cuts amid signs the local economy is stalling. ...
Thu 5th March 2009 - 08:48am
The ACT Government has been urged to step up the fight against federal public service cuts amid signs the local economy is stalling. ...
Thu 5th March 2009 - 08:48am
Business confidence hits record low in NSW
New South Wales has recorded the lowest level of confidence among small and medium-sized businesses in Australia. ...
Thu 5th March 2009 - 08:44am
New South Wales has recorded the lowest level of confidence among small and medium-sized businesses in Australia. ...
Thu 5th March 2009 - 08:44am
NRL predicting challenging financial times
Cronullas chief executive Tony Zappia says rugby league clubs face an unpredictable future because of financial issues. ...
Thu 5th March 2009 - 08:32am
Cronullas chief executive Tony Zappia says rugby league clubs face an unpredictable future because of financial issues. ...
Thu 5th March 2009 - 08:32am
Business back govts approach to crisis
Business has backed the government's approach to dealing with the financial crisis- despite the slowing economy. ...
Thu 5th March 2009 - 08:22am
Business has backed the government's approach to dealing with the financial crisis- despite the slowing economy. ...
Thu 5th March 2009 - 08:22am
China manufacturing decline slowing
China's manufacturing activity contracted for a fifth straight month in February but the decline slowed- data published on Wednesday indicated. ...
Thu 5th March 2009 - 08:18am
China's manufacturing activity contracted for a fifth straight month in February but the decline slowed- data published on Wednesday indicated. ...
Thu 5th March 2009 - 08:18am
Australia shares to bounce on China optimism
A jump in oil and metals prices should also buoy resources stocks such as BHP Billiton BHP- which is projected to jump about 8 percent at the open based on trading in its U.S. shares. ...
Thu 5th March 2009 - 08:13am
A jump in oil and metals prices should also buoy resources stocks such as BHP Billiton BHP- which is projected to jump about 8 percent at the open based on trading in its U.S. shares. ...
Thu 5th March 2009 - 08:13am
Euro auto output to fall 25 pct in 2009- industry body
BRUSSELS AFP - European auto output will fall 25 percent this year as the industry struggles in the global economic crisis- the European Automobile Manufacturers Association ACEA said Wednesday. ...
Thu 5th March 2009 - 08:12am
BRUSSELS AFP - European auto output will fall 25 percent this year as the industry struggles in the global economic crisis- the European Automobile Manufacturers Association ACEA said Wednesday. ...
Thu 5th March 2009 - 08:12am
Greens urge govt against public service cuts
The ACT Government has been urged to step up the fight against federal public service cuts amid signs the local economy is stalling. ...
Thu 5th March 2009 - 08:12am
The ACT Government has been urged to step up the fight against federal public service cuts amid signs the local economy is stalling. ...
Thu 5th March 2009 - 08:12am
Oppn puts public sector on notice
Tasmanias Opposition leader Will Hodgman has promised a Liberal State Government would do more with less- slashing waste and inefficiency in the public sector. ...
Thu 5th March 2009 - 08:11am
Tasmanias Opposition leader Will Hodgman has promised a Liberal State Government would do more with less- slashing waste and inefficiency in the public sector. ...
Thu 5th March 2009 - 08:11am
Oppn puts public sector on notice
Tasmanias Opposition leader Will Hodgman has promised a Liberal State Government would do more with less- slashing waste and inefficiency in the public sector. ...
Thu 5th March 2009 - 08:10am
Tasmanias Opposition leader Will Hodgman has promised a Liberal State Government would do more with less- slashing waste and inefficiency in the public sector. ...
Thu 5th March 2009 - 08:10am
Japan moves to ease credit crunch
Japan has unveiled new steps to funnel funds to cash-depleted companies- expanding the country's arsenal in the fight against a stubborn credit crunch. ...
Thu 5th March 2009 - 07:58am
Japan has unveiled new steps to funnel funds to cash-depleted companies- expanding the country's arsenal in the fight against a stubborn credit crunch. ...
Thu 5th March 2009 - 07:58am
Oil prices jump on Chinese demand hopes
LONDON AFP - Oil prices rose sharply Wednesday on hopes of strengthening crude demand in China- the worlds second biggest energy consumer after the United States- analysts said. ...
Thu 5th March 2009 - 07:50am
LONDON AFP - Oil prices rose sharply Wednesday on hopes of strengthening crude demand in China- the worlds second biggest energy consumer after the United States- analysts said. ...
Thu 5th March 2009 - 07:50am
GE dismisses report on capital need as speculation
NEW YORK AFP - As it stock price tumbled to fresh lows- General Electric on Wednesday dismissed reports that it would have to raise new capital as -amp quotpure speculation -amp quot and inaccurate. ...
Thu 5th March 2009 - 07:28am
NEW YORK AFP - As it stock price tumbled to fresh lows- General Electric on Wednesday dismissed reports that it would have to raise new capital as -amp quotpure speculation -amp quot and inaccurate. ...
Thu 5th March 2009 - 07:28am
Ukrainian gas raid 'hurt Russia deal'
Armed security agents searched the headquarters of Ukraine's natural gas company in a raid that the firm says threatened a deal with Russia over gas supplies. ...
Thu 5th March 2009 - 07:28am
Armed security agents searched the headquarters of Ukraine's natural gas company in a raid that the firm says threatened a deal with Russia over gas supplies. ...
Thu 5th March 2009 - 07:28am
Global stock markets bounce back
Global stock markets have rebounded sharply after recent heavy losses but the gains reflected quick bargain hunting rather than any change in sentiment. ...
Thu 5th March 2009 - 07:21am
Global stock markets have rebounded sharply after recent heavy losses but the gains reflected quick bargain hunting rather than any change in sentiment. ...
Thu 5th March 2009 - 07:21am
US offers foreclosure relief as grim data mounts
WASHINGTON AFP - President Barack Obamas administration Wednesday unveiled the details of a 75-billion-dollar rescue plan to stem rising home foreclosures as grim data suggested a deepening recession. ...
Thu 5th March 2009 - 07:19am
WASHINGTON AFP - President Barack Obamas administration Wednesday unveiled the details of a 75-billion-dollar rescue plan to stem rising home foreclosures as grim data suggested a deepening recession. ...
Thu 5th March 2009 - 07:19am
Donors launch $A8.5b fund for Indonesia
Foreign donors have launched a $US5.5 billion $A8.57 billion standby facility to help Indonesia weather the global economic crisis. ...
Thu 5th March 2009 - 07:18am
Foreign donors have launched a $US5.5 billion $A8.57 billion standby facility to help Indonesia weather the global economic crisis. ...
Thu 5th March 2009 - 07:18am
Siemens teams up with Russia for slice of nuclear pie
BERLIN AFP - Siemens has become the latest German firm to up its game and tap into the renewed interest in nuclear power being seen all across the world - but not in the companys own backyard. ...
Thu 5th March 2009 - 06:18am
BERLIN AFP - Siemens has become the latest German firm to up its game and tap into the renewed interest in nuclear power being seen all across the world - but not in the companys own backyard. ...
Thu 5th March 2009 - 06:18am
Euro hits three-month dollar low
LONDON AFP - The euro hit a three-month low against the dollar on Wednesday as investors fled risky currencies after a sharp contraction in the Australian economy- dealers said. ...
Thu 5th March 2009 - 05:40am
LONDON AFP - The euro hit a three-month low against the dollar on Wednesday as investors fled risky currencies after a sharp contraction in the Australian economy- dealers said. ...
Thu 5th March 2009 - 05:40am
Oil prices gain on Chinese demand hopes
LONDON AFP - Oil prices climbed Wednesday on hopes of strengthening crude demand in China- which is the worlds second biggest energy consumer after the United States- analysts said. ...
Thu 5th March 2009 - 04:49am
LONDON AFP - Oil prices climbed Wednesday on hopes of strengthening crude demand in China- which is the worlds second biggest energy consumer after the United States- analysts said. ...
Thu 5th March 2009 - 04:49am
Toyota wants to build 4WD in Australia
Toyota- one of Australia's big three car makers- is considering building a four-wheel drive model locally but not until the global financial crisis subsides. ...
Thu 5th March 2009 - 02:32am
Toyota- one of Australia's big three car makers- is considering building a four-wheel drive model locally but not until the global financial crisis subsides. ...
Thu 5th March 2009 - 02:32am
Eurotunnel to pay first dividend
PARIS AFP - Channel tunnel operator Eurotunnel said on Wednesday it will pay its first ever dividend after making a net profit of 40 million euros in 2008 despite fire damage of 200 million euros 250 million dollars. ...
Thu 5th March 2009 - 01:24am
PARIS AFP - Channel tunnel operator Eurotunnel said on Wednesday it will pay its first ever dividend after making a net profit of 40 million euros in 2008 despite fire damage of 200 million euros 250 million dollars. ...
Thu 5th March 2009 - 01:24am
GM unit Opel might shed 3-500 jobs
BERLIN AFP - German automaker Opel- a unit of stricken US giant General Motors- might cut at least 3-500 jobs if the government does not step in- the head of GM Europe said in an interview published on Wednesday. ...
Thu 5th March 2009 - 12:52am
BERLIN AFP - German automaker Opel- a unit of stricken US giant General Motors- might cut at least 3-500 jobs if the government does not step in- the head of GM Europe said in an interview published on Wednesday. ...
Thu 5th March 2009 - 12:52am
Adecco posts full-year profit slump
ZURICH AFP - The worlds biggest temporary staffing agency Adecco on Wednesday said its full-year net profit slumped by a third to 495 million euros 620.8 million dollars after a loss in the fourth quarter. ...
Thu 5th March 2009 - 12:37am
ZURICH AFP - The worlds biggest temporary staffing agency Adecco on Wednesday said its full-year net profit slumped by a third to 495 million euros 620.8 million dollars after a loss in the fourth quarter. ...
Thu 5th March 2009 - 12:37am
France Telecom 2008 net profit shrinks
PARIS AFP - France Telecom announced Wednesday that 2008 net profit shrank 35.4 percent to 4. ...
Thu 5th March 2009 - 12:35am
PARIS AFP - France Telecom announced Wednesday that 2008 net profit shrank 35.4 percent to 4. ...
Thu 5th March 2009 - 12:35am
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