US has $134.4 bln left in stability fund
WASHINGTON AFP - The US Treasury has 134. ...
Tue 21st April 2009 - 11:34pm
WASHINGTON AFP - The US Treasury has 134. ...
Tue 21st April 2009 - 11:34pm
Britain's Tesco rings up record results
Britain's leading retailer- supermarket giant Tesco- on Tuesday announced record-beating annual profits and sales despite a spreading global recession. ...
Tue 21st April 2009 - 10:31pm
Britain's leading retailer- supermarket giant Tesco- on Tuesday announced record-beating annual profits and sales despite a spreading global recession. ...
Tue 21st April 2009 - 10:31pm
Recession will be a wrecking ball on revenue- Swan
Federal Treasurer Wayne Swan says the global recession will act like a wrecking ball on Government revenues in next months federal Budget. ...
Tue 21st April 2009 - 10:23pm
Federal Treasurer Wayne Swan says the global recession will act like a wrecking ball on Government revenues in next months federal Budget. ...
Tue 21st April 2009 - 10:23pm
Tesco rings up record profits despite recession
LONDON AFP - Britains leading retailer- supermarket giant Tesco- on Tuesday announced record-beating annual profits and sales despite a spreading global recession and deepening losses at its US division. ...
Tue 21st April 2009 - 09:59pm
LONDON AFP - Britains leading retailer- supermarket giant Tesco- on Tuesday announced record-beating annual profits and sales despite a spreading global recession and deepening losses at its US division. ...
Tue 21st April 2009 - 09:59pm
European stocks edge ahead
LONDON AFP - European stock markets climbed Tuesday on the back of upbeat corporate and economic news- but Asia was hit by stubborn concerns about the troubled global banking sector- analysts said. ...
Tue 21st April 2009 - 09:55pm
LONDON AFP - European stock markets climbed Tuesday on the back of upbeat corporate and economic news- but Asia was hit by stubborn concerns about the troubled global banking sector- analysts said. ...
Tue 21st April 2009 - 09:55pm
Macquarie offers lifeline to BrisConnections investors
The Macquarie Group has offered small BrisConnections investors a lifeline by proposing to buy their remaining debt owed to the developer. ...
Tue 21st April 2009 - 09:50pm
The Macquarie Group has offered small BrisConnections investors a lifeline by proposing to buy their remaining debt owed to the developer. ...
Tue 21st April 2009 - 09:50pm
Oil prices firm after sharp falls
LONDON AFP - World oil prices crept higher on Tuesday- after sharp falls the previous day- as traders assessed weak energy demand in a battered global economy. ...
Tue 21st April 2009 - 09:44pm
LONDON AFP - World oil prices crept higher on Tuesday- after sharp falls the previous day- as traders assessed weak energy demand in a battered global economy. ...
Tue 21st April 2009 - 09:44pm
Indias central bank cuts rates to spur demand
MUMBAI AFP - Indias central bank on Tuesday cut two key short-term interest rates by 25 basis points each- in a bid to kickstart the Asian giants slowing economy. ...
Tue 21st April 2009 - 09:29pm
MUMBAI AFP - Indias central bank on Tuesday cut two key short-term interest rates by 25 basis points each- in a bid to kickstart the Asian giants slowing economy. ...
Tue 21st April 2009 - 09:29pm
Water prices will be among nations lowest
Melbournes water companies say the citys water prices will still be among the lowest in the nation- despite a proposed 60 per cent increase by 2013. ...
Tue 21st April 2009 - 08:50pm
Melbournes water companies say the citys water prices will still be among the lowest in the nation- despite a proposed 60 per cent increase by 2013. ...
Tue 21st April 2009 - 08:50pm
Water prices will be among nations lowest
Melbournes water companies say the citys water prices will still be among the lowest in the nation- despite a proposed 60 per cent increase by 2013. ...
Tue 21st April 2009 - 08:37pm
Melbournes water companies say the citys water prices will still be among the lowest in the nation- despite a proposed 60 per cent increase by 2013. ...
Tue 21st April 2009 - 08:37pm
Mac bails out BrisConnection unitholders
Macquarie Group has offered a lifeline to small BrisConnections investors- offering to pay their remaining instalments if they give up their holding for free. ...
Tue 21st April 2009 - 08:27pm
Macquarie Group has offered a lifeline to small BrisConnections investors- offering to pay their remaining instalments if they give up their holding for free. ...
Tue 21st April 2009 - 08:27pm
Cafe culture taking hit from economic crisis
According to official figures the gloomy economic outlook is seeing more people shunning restaurants and cooking at home. ...
Tue 21st April 2009 - 08:19pm
According to official figures the gloomy economic outlook is seeing more people shunning restaurants and cooking at home. ...
Tue 21st April 2009 - 08:19pm
German economic indicator turns positive
BERLIN AFP - Germanys ZEW economic sentiment index posted its first positive reading on Tuesday since July 2007- pointing to a possible pick-up in Europes biggest economy in the second half of 2009. ...
Tue 21st April 2009 - 07:59pm
BERLIN AFP - Germanys ZEW economic sentiment index posted its first positive reading on Tuesday since July 2007- pointing to a possible pick-up in Europes biggest economy in the second half of 2009. ...
Tue 21st April 2009 - 07:59pm
AXA may slash up to 120 jobs
Insurance and superannuation giant AXA Asia Pacific could slash up to 120 full-time staff to curb costs as the global financial market meltdown takes its toll. ...
Tue 21st April 2009 - 07:48pm
Insurance and superannuation giant AXA Asia Pacific could slash up to 120 full-time staff to curb costs as the global financial market meltdown takes its toll. ...
Tue 21st April 2009 - 07:48pm
AXA may slash up to 120 jobs
Insurance and superannuation giant AXA Asia Pacific could slash up to 120 full-time staff to curb costs as the global financial market meltdown takes its toll. ...
Tue 21st April 2009 - 07:37pm
Insurance and superannuation giant AXA Asia Pacific could slash up to 120 full-time staff to curb costs as the global financial market meltdown takes its toll. ...
Tue 21st April 2009 - 07:37pm
Financial crisis optimists grasping at straws
Reserve Bank Governor Glenn Stevens says there is light at the end of the financial crisis tunnel- despite admitting for the first time today that Australia is already in a recession. ...
Tue 21st April 2009 - 07:30pm
Reserve Bank Governor Glenn Stevens says there is light at the end of the financial crisis tunnel- despite admitting for the first time today that Australia is already in a recession. ...
Tue 21st April 2009 - 07:30pm
RBA governor declares a recession
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 07:28pm
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 07:28pm
RBA governor declares a recession
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 07:19pm
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 07:19pm
RBA chief Stevens declares a recession
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 06:43pm
Reserve Bank of Australia RBA governor Glenn Stevens sees little reason to wait until the next national accounts to declare that Australia is in recession. ...
Tue 21st April 2009 - 06:43pm
Ivanhoe shares soar on big rhenium find
Shares in miner Ivanhoe Australia have soared nearly 30 per cent after the company said its Merlin molybdenum-rhenium deposit could be worth $6.4 billion. ...
Tue 21st April 2009 - 06:42pm
Shares in miner Ivanhoe Australia have soared nearly 30 per cent after the company said its Merlin molybdenum-rhenium deposit could be worth $6.4 billion. ...
Tue 21st April 2009 - 06:42pm
Bunnings still Wesfarmers' top performer
Wesfarmers remains a mixed bag with Coles showing signs of improvement and Bunnings starring as the steelmaking slowdown hampers the group's coal division. ...
Tue 21st April 2009 - 06:17pm
Wesfarmers remains a mixed bag with Coles showing signs of improvement and Bunnings starring as the steelmaking slowdown hampers the group's coal division. ...
Tue 21st April 2009 - 06:17pm
RBA Governor confirms recession
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 05:58pm
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 05:58pm
Report proves IR changes went too far- Opposition
The Federal Opposition says a new report shows the Governments changes to industrial relations laws are making it harder for young people to find a job. ...
Tue 21st April 2009 - 05:54pm
The Federal Opposition says a new report shows the Governments changes to industrial relations laws are making it harder for young people to find a job. ...
Tue 21st April 2009 - 05:54pm
Pacific Brands gains time to pay debts
Clothing manufacturer Pacific Brands has gained more time to pay its debts. ...
Tue 21st April 2009 - 05:51pm
Clothing manufacturer Pacific Brands has gained more time to pay its debts. ...
Tue 21st April 2009 - 05:51pm
Home ownership dream slipping away- renters
For some people the great Australian dream is home ownership- but according to a new survey it is a dream that many feel is out of reach. ...
Tue 21st April 2009 - 05:48pm
For some people the great Australian dream is home ownership- but according to a new survey it is a dream that many feel is out of reach. ...
Tue 21st April 2009 - 05:48pm
Asciano reports non-binding offers
Ports and rail freight operator Asciano Group says it has received some proposed takeover offers and offers for individual assets- but they are non-binding. ...
Tue 21st April 2009 - 05:44pm
Ports and rail freight operator Asciano Group says it has received some proposed takeover offers and offers for individual assets- but they are non-binding. ...
Tue 21st April 2009 - 05:44pm
Toyotas domestic output to hit 30yr low- report
Reports in Japan say Toyotas annual production in Japan will fall below three million vehicles for the first time in 30 years. ...
Tue 21st April 2009 - 05:36pm
Reports in Japan say Toyotas annual production in Japan will fall below three million vehicles for the first time in 30 years. ...
Tue 21st April 2009 - 05:36pm
Aristocrat expects profit to fall 44
The world's second-largest maker of slot machines- Aristocrat Leisure- is expecting first-half net profit to fall up to 44 per cent. ...
Tue 21st April 2009 - 05:20pm
The world's second-largest maker of slot machines- Aristocrat Leisure- is expecting first-half net profit to fall up to 44 per cent. ...
Tue 21st April 2009 - 05:20pm
RBA hints at rate-cut ceasefire
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 04:57pm
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 04:57pm
Aussie dollar clambers off 3-week lows bonds fly
SYDNEY- April 21 - The Australian dollar AUDD4 recovered from three-week lows on Tuesday but still nursed hefty losses after a sell-off in stock markets unnerved investors- putting the brakes on its recent spurt. ...
Tue 21st April 2009 - 04:55pm
SYDNEY- April 21 - The Australian dollar AUDD4 recovered from three-week lows on Tuesday but still nursed hefty losses after a sell-off in stock markets unnerved investors- putting the brakes on its recent spurt. ...
Tue 21st April 2009 - 04:55pm
Report proves IR changes went too far- Opposition
The Federal Opposition says a new report shows the Governments changes to industrial relations laws are making it harder for young people to find a job. ...
Tue 21st April 2009 - 04:51pm
The Federal Opposition says a new report shows the Governments changes to industrial relations laws are making it harder for young people to find a job. ...
Tue 21st April 2009 - 04:51pm
Gunns expects to sign up partner by June
Timber giant Gunns Ltd expects to have signed up a joint venture partner to help fund construction of its controversial Tasmanian pulp mill by the end of June. ...
Tue 21st April 2009 - 04:45pm
Timber giant Gunns Ltd expects to have signed up a joint venture partner to help fund construction of its controversial Tasmanian pulp mill by the end of June. ...
Tue 21st April 2009 - 04:45pm
Oil Search output dips in March quarter
Oil Search says a sales deal has been struck with an unnamed -amp quotmajor Asian customer -amp quot for liquefied natural gas from the massive Papua New Guinea LNG project. ...
Tue 21st April 2009 - 04:43pm
Oil Search says a sales deal has been struck with an unnamed -amp quotmajor Asian customer -amp quot for liquefied natural gas from the massive Papua New Guinea LNG project. ...
Tue 21st April 2009 - 04:43pm
Russia- China finalise oil pipeline deal
BEIJING AFP - China and Russia signed a multi-billion dollar deal Tuesday- bringing into play a series of agreements on constructing an oil pipeline and supplying fuel to Chinese markets- state media reported. ...
Tue 21st April 2009 - 04:40pm
BEIJING AFP - China and Russia signed a multi-billion dollar deal Tuesday- bringing into play a series of agreements on constructing an oil pipeline and supplying fuel to Chinese markets- state media reported. ...
Tue 21st April 2009 - 04:40pm
Mayor welcomes start on Brighton bypass
The Mayor of Brighton in southern Tasmania is celebrating work starting on the local highway bypass. ...
Tue 21st April 2009 - 04:40pm
The Mayor of Brighton in southern Tasmania is celebrating work starting on the local highway bypass. ...
Tue 21st April 2009 - 04:40pm
Coles on track but has 'long way to go'
The turnaround of Coles supermarkets is on track but it still has a -amp quota long way to go -amp quot- according to Coles owner Wesfarmers. ...
Tue 21st April 2009 - 04:36pm
The turnaround of Coles supermarkets is on track but it still has a -amp quota long way to go -amp quot- according to Coles owner Wesfarmers. ...
Tue 21st April 2009 - 04:36pm
Economists predict 'modest' rate cuts
The Reserve Bank of Australia RBA debated whether to lower interest rates this month before undertaking a modest cut- its April board meeting minutes said. ...
Tue 21st April 2009 - 04:20pm
The Reserve Bank of Australia RBA debated whether to lower interest rates this month before undertaking a modest cut- its April board meeting minutes said. ...
Tue 21st April 2009 - 04:20pm
Australian shares drop on bad loan- profit worries
MELBOURNE- April 21 - Australian stocks fell 2.4 percent on Tuesday- led down by banks and miners- after a surge in bad loans at Bank of America Corp BAC.N sparked new fears about bank balance sheets and corporate earnings outlooks. ...
Tue 21st April 2009 - 04:20pm
MELBOURNE- April 21 - Australian stocks fell 2.4 percent on Tuesday- led down by banks and miners- after a surge in bad loans at Bank of America Corp BAC.N sparked new fears about bank balance sheets and corporate earnings outlooks. ...
Tue 21st April 2009 - 04:20pm
Pulp mill venture partner still in pipeline
The timber company Gunns has indicated it does not expect to announce a financial partner for its planned Tasmanian pulp mill until at least June. ...
Tue 21st April 2009 - 04:18pm
The timber company Gunns has indicated it does not expect to announce a financial partner for its planned Tasmanian pulp mill until at least June. ...
Tue 21st April 2009 - 04:18pm
Pike River Coal Limited NZE-PRC Announces Its $41 Million Rights Issue Fully Subscribed
Auckland- New Zealand- Apr 21- 2009 - ABN Newswire - Pike River Coal Limiteds NZE-PRCPINK-PKRRF announces that its $41 million rights issue which closed on 17 April 2009 has been fully subscribed and scaling of shareholders applications for shares under the excess subscription facility has been necessary.The issue had been fully underwritten by McDouall Stuart Corporate Finance Limited and New Zealand Oil -amp amp Gas Limited. ...
Tue 21st April 2009 - 04:13pm
Auckland- New Zealand- Apr 21- 2009 - ABN Newswire - Pike River Coal Limiteds NZE-PRCPINK-PKRRF announces that its $41 million rights issue which closed on 17 April 2009 has been fully subscribed and scaling of shareholders applications for shares under the excess subscription facility has been necessary.The issue had been fully underwritten by McDouall Stuart Corporate Finance Limited and New Zealand Oil -amp amp Gas Limited. ...
Tue 21st April 2009 - 04:13pm
Asian Markets Overview of April 21
Sydney- Australia- Apr 21- 2009 - ABN Newswire - Asian markets opened broadly lower on Tuesday. Hong Kongs Hang Seng Index slumped with a massive 4.4 per cent fall in early trading- while Tokyo stocks were also under pressure- weighed by the tumble on Wall Street and stronger Yen. ...
Tue 21st April 2009 - 04:11pm
Sydney- Australia- Apr 21- 2009 - ABN Newswire - Asian markets opened broadly lower on Tuesday. Hong Kongs Hang Seng Index slumped with a massive 4.4 per cent fall in early trading- while Tokyo stocks were also under pressure- weighed by the tumble on Wall Street and stronger Yen. ...
Tue 21st April 2009 - 04:11pm
Asia markets stabilise- lengthy recovery ahead
MANILA AFP - Capital markets in emerging Asia are stabilising as the global economic crisis eases and investor appetite returns- the Asian Development Bank said Tuesday. ...
Tue 21st April 2009 - 03:58pm
MANILA AFP - Capital markets in emerging Asia are stabilising as the global economic crisis eases and investor appetite returns- the Asian Development Bank said Tuesday. ...
Tue 21st April 2009 - 03:58pm
Asian markets stabilise as crisis eases
Capital markets in emerging Asia are stabilising as the global economic crisis eases and investor appetite returns- the Asian Development Bank said on Tuesday. ...
Tue 21st April 2009 - 03:49pm
Capital markets in emerging Asia are stabilising as the global economic crisis eases and investor appetite returns- the Asian Development Bank said on Tuesday. ...
Tue 21st April 2009 - 03:49pm
Indigenous housing funds target NT- Qld
The Federal Government has finalised the list of which Aboriginal communities will benefit from its $5.5 billion program to improve housing in remote areas. ...
Tue 21st April 2009 - 03:42pm
The Federal Government has finalised the list of which Aboriginal communities will benefit from its $5.5 billion program to improve housing in remote areas. ...
Tue 21st April 2009 - 03:42pm
Stevens calls for perspective on banks
Australia's central bank governor Glenn Stevens has called for perspective on banks passing on interest rate cuts. ...
Tue 21st April 2009 - 03:35pm
Australia's central bank governor Glenn Stevens has called for perspective on banks passing on interest rate cuts. ...
Tue 21st April 2009 - 03:35pm
Toyotas domestic output to hit three-decade low
TOKYO AFP - Toyota Motors domestic production is likely to fall below three million vehicles for the first time in three decades in the current business year as demand slumps- a report said Tuesday. ...
Tue 21st April 2009 - 03:29pm
TOKYO AFP - Toyota Motors domestic production is likely to fall below three million vehicles for the first time in three decades in the current business year as demand slumps- a report said Tuesday. ...
Tue 21st April 2009 - 03:29pm
Japan Airlines seeks two-bln-dlr govt loan
TOKYO AFP - Japan Airlines JAL- Asias largest carrier- is seeking two billion dollars in emergency government loans to shore up its finances amid the global economic downturn- reports said Tuesday. ...
Tue 21st April 2009 - 03:27pm
TOKYO AFP - Japan Airlines JAL- Asias largest carrier- is seeking two billion dollars in emergency government loans to shore up its finances amid the global economic downturn- reports said Tuesday. ...
Tue 21st April 2009 - 03:27pm
Trucks engine blamed for Hills tunnel blaze
A truck fire in the Adelaide Hills Heysen Tunnels apparently started in the vehicles engine. ...
Tue 21st April 2009 - 03:26pm
A truck fire in the Adelaide Hills Heysen Tunnels apparently started in the vehicles engine. ...
Tue 21st April 2009 - 03:26pm
Colombia seeks $US10.4b credit line- IMF
The International Monetary Fund says Colombia is seeking a $A14.9 billion credit line as a precautionary step to cope with the global financial crisis. ...
Tue 21st April 2009 - 03:19pm
The International Monetary Fund says Colombia is seeking a $A14.9 billion credit line as a precautionary step to cope with the global financial crisis. ...
Tue 21st April 2009 - 03:19pm
Grim outlook for mining jobs
A survey suggests that some of Australias big miners are expecting to slash more jobs by the end of the year. ...
Tue 21st April 2009 - 03:19pm
A survey suggests that some of Australias big miners are expecting to slash more jobs by the end of the year. ...
Tue 21st April 2009 - 03:19pm
Greens- AGL at odds over ETS delay
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 03:13pm
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 03:13pm
Stevens calls for perspective on banks
Australia's central bank governor Glenn Stevens has called for perspective on banks passing on interest rate cuts. ...
Tue 21st April 2009 - 03:10pm
Australia's central bank governor Glenn Stevens has called for perspective on banks passing on interest rate cuts. ...
Tue 21st April 2009 - 03:10pm
Rain buffers wheat production fall- NAB
Good sub-soil moisture levels across three states will help to buffer a drop in wheat production in 2009-10- according to NAB's latest commodities forecast. ...
Tue 21st April 2009 - 02:54pm
Good sub-soil moisture levels across three states will help to buffer a drop in wheat production in 2009-10- according to NAB's latest commodities forecast. ...
Tue 21st April 2009 - 02:54pm
Australia already in recession- RBA
Reserve Bank of Australia governor Glenn Stevens says the Australian economy is in recession. ...
Tue 21st April 2009 - 02:53pm
Reserve Bank of Australia governor Glenn Stevens says the Australian economy is in recession. ...
Tue 21st April 2009 - 02:53pm
Economists predict RBA to hold rates
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 02:52pm
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 02:52pm
Worst is over for Britain- CBI forecast
A major business lobby group has predicted in a forecast that the worst of Britain's recession may be over- but growth would only resume next year. ...
Tue 21st April 2009 - 02:51pm
A major business lobby group has predicted in a forecast that the worst of Britain's recession may be over- but growth would only resume next year. ...
Tue 21st April 2009 - 02:51pm
Recession is a 9-letter word
Its a single nine letter word. The Prime Minister uttered it yesterday and now the Governor of the Reserve Bank is giving it a workout. ...
Tue 21st April 2009 - 02:45pm
Its a single nine letter word. The Prime Minister uttered it yesterday and now the Governor of the Reserve Bank is giving it a workout. ...
Tue 21st April 2009 - 02:45pm
Emissions trading may cost Ford millions
Ford Australia says it is concerned the Federal Governments emissions trading scheme could significantly increase its costs. ...
Tue 21st April 2009 - 02:39pm
Ford Australia says it is concerned the Federal Governments emissions trading scheme could significantly increase its costs. ...
Tue 21st April 2009 - 02:39pm
Melbourne water prices set to rise
Victorias water regulator concedes its plan to raise Melbournes water prices by 60 per cent by 2013 represents a big increase. ...
Tue 21st April 2009 - 02:37pm
Victorias water regulator concedes its plan to raise Melbournes water prices by 60 per cent by 2013 represents a big increase. ...
Tue 21st April 2009 - 02:37pm
Qld miner announces $6.4b rhenium find
Miner Ivanhoe Australia says it has found a molybdenum-rhenium deposit potentially worth $6.4 billion at its Merlin project in north-west Queensland. ...
Tue 21st April 2009 - 02:34pm
Miner Ivanhoe Australia says it has found a molybdenum-rhenium deposit potentially worth $6.4 billion at its Merlin project in north-west Queensland. ...
Tue 21st April 2009 - 02:34pm
RBA Governor confirms recession
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 02:22pm
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 02:22pm
RBA Governor confirms recession
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 02:21pm
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 02:21pm
RBAs delicate highwire act as economy tips
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over for now. ...
Tue 21st April 2009 - 02:15pm
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over for now. ...
Tue 21st April 2009 - 02:15pm
RBA Governor confirms recession
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 01:57pm
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 01:57pm
Greens- AGL at odds over ETS delay
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:55pm
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:55pm
Greens- AGL at odds over ETS delay
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:50pm
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:50pm
Small business demands stimulus support
The National Independent Retailers Association has called for a third round of economic stimulus from the Federal Government- to specifically target small businesses. ...
Tue 21st April 2009 - 01:49pm
The National Independent Retailers Association has called for a third round of economic stimulus from the Federal Government- to specifically target small businesses. ...
Tue 21st April 2009 - 01:49pm
Alibaba Group HKG-1688 Alibaba.com Helps Consumers Go Green and Save Some Green
Beijing- China- Apr 21- 2009 - ABN Newswire - Alibaba Group HKG-1688PINK-ALBCF The global trade in green products is increasing dramatically- according to popular searches on Alibaba.com- the worlds leading B2B e-commerce company. ...
Tue 21st April 2009 - 01:43pm
Beijing- China- Apr 21- 2009 - ABN Newswire - Alibaba Group HKG-1688PINK-ALBCF The global trade in green products is increasing dramatically- according to popular searches on Alibaba.com- the worlds leading B2B e-commerce company. ...
Tue 21st April 2009 - 01:43pm
Australia already in recession- RBA
Reserve Bank of Australia governor Glenn Stevens says the Australian economy is in recession. ...
Tue 21st April 2009 - 01:35pm
Reserve Bank of Australia governor Glenn Stevens says the Australian economy is in recession. ...
Tue 21st April 2009 - 01:35pm
Trucks engine blamed for Hills tunnel blaze
A truck fire in the Adelaide Hills Heysen Tunnels apparently started in the vehicles engine. ...
Tue 21st April 2009 - 01:35pm
A truck fire in the Adelaide Hills Heysen Tunnels apparently started in the vehicles engine. ...
Tue 21st April 2009 - 01:35pm
RBA Governor confirms recession
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 01:31pm
Australia is already in a recession- Reserve Bank of Australia RBA Governor Glenn Stevens has said for the first time. ...
Tue 21st April 2009 - 01:31pm
Coles on track but has 'long way to go'
The turnaround of Coles supermarkets is on track but it still has a -amp quota long way to go -amp quot- according to Coles owner Wesfarmers. ...
Tue 21st April 2009 - 01:29pm
The turnaround of Coles supermarkets is on track but it still has a -amp quota long way to go -amp quot- according to Coles owner Wesfarmers. ...
Tue 21st April 2009 - 01:29pm
Greens- AGL at odds over ETS delay
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:22pm
A leading energy company has urged the Federal Government to quickly approve and implement the proposed emissions trading scheme ETS. ...
Tue 21st April 2009 - 01:22pm
Obama asks Congress to back IMF boost
WASHINGTON AFP - President Barack Obama asked Congress in letters released to back an expansion of an IMF emergency fund by 500 billion dollars in a move set to widen its reach to big emerging markets. ...
Tue 21st April 2009 - 01:18pm
WASHINGTON AFP - President Barack Obama asked Congress in letters released to back an expansion of an IMF emergency fund by 500 billion dollars in a move set to widen its reach to big emerging markets. ...
Tue 21st April 2009 - 01:18pm
Economists predict RBA to hold rates
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 01:15pm
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 01:15pm
Australian shares slide on bad loan- profit worries
MELBOURNE- April 21 - Australian stocks fell 2.6 percent on Tuesday- led down by banks and miners- on fresh concerns about the earnings outlook for domestic companies and a potential surge in sour loans for banks. ...
Tue 21st April 2009 - 01:15pm
MELBOURNE- April 21 - Australian stocks fell 2.6 percent on Tuesday- led down by banks and miners- on fresh concerns about the earnings outlook for domestic companies and a potential surge in sour loans for banks. ...
Tue 21st April 2009 - 01:15pm
Aussie flounders on renewed bank woes bonds surge
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0000 GMTagainst previous Sydney close AUD 0.6996-990.7184-86 AUDNZDR1.2653-721.2673-93 AUDJPYR 68.62-66 71 ...
Tue 21st April 2009 - 12:52pm
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0000 GMTagainst previous Sydney close AUD 0.6996-990.7184-86 AUDNZDR1.2653-721.2673-93 AUDJPYR 68.62-66 71 ...
Tue 21st April 2009 - 12:52pm
Building industry pushes for stimulus projects to start
The Master Builders Association MBA says the ACT no longer has a skills shortage in the construction industry but says it is worried a number of people in the sector will leave Canberra as work dries up. ...
Tue 21st April 2009 - 12:48pm
The Master Builders Association MBA says the ACT no longer has a skills shortage in the construction industry but says it is worried a number of people in the sector will leave Canberra as work dries up. ...
Tue 21st April 2009 - 12:48pm
RBA hints at rate-cut ceasefire
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 12:38pm
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 12:38pm
Economists predict RBA to hold rates
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 12:33pm
The Reserve Bank of Australia RBA will likely keep rates on hold when it meets in May- economists say. ...
Tue 21st April 2009 - 12:33pm
RBA hints at rate-cut ceasefire
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 12:33pm
The Reserve Bank has given the strongest indication yet that the dramatic interest rate cuts of the past six months might be over - for now. ...
Tue 21st April 2009 - 12:33pm
VODone Limited Driven by strong advertising sales Turnover of 2008 recorded encouraging growth of 13
Hong Kong- Apr 21- 2009 - ACN Newswire - VODone Limited the -amp quotCompany -amp quot Stock code- 0082 is pleased to announce the audited consolidated financial results of the Company and its subsidiary -amp quotVODone -amp quot or the -amp quotGroup -amp quot for the year ended 31 December 2008 the -amp quotReporting Year -amp quot. ...
Tue 21st April 2009 - 12:30pm
Hong Kong- Apr 21- 2009 - ACN Newswire - VODone Limited the -amp quotCompany -amp quot Stock code- 0082 is pleased to announce the audited consolidated financial results of the Company and its subsidiary -amp quotVODone -amp quot or the -amp quotGroup -amp quot for the year ended 31 December 2008 the -amp quotReporting Year -amp quot. ...
Tue 21st April 2009 - 12:30pm
Nuplex rights issue falls short by 4
Chemicals manufacturer Nuplex Industries said on Tuesday its rights offer was undersubscribed by 4.09 per cent- or $5.4 million $A4.3 million. ...
Tue 21st April 2009 - 12:29pm
Chemicals manufacturer Nuplex Industries said on Tuesday its rights offer was undersubscribed by 4.09 per cent- or $5.4 million $A4.3 million. ...
Tue 21st April 2009 - 12:29pm
B -amp B Capital considers takeover proposals
Babcock -amp Brown Capital Ltd is considering several takeover proposals as it seeks to move out of the orbit of the troubled investment group. ...
Tue 21st April 2009 - 12:23pm
Babcock -amp Brown Capital Ltd is considering several takeover proposals as it seeks to move out of the orbit of the troubled investment group. ...
Tue 21st April 2009 - 12:23pm
Bad news prompted RBA April rate cut
The Reserve Bank of Australia cut interest rates earlier this month after it realised the outlook for economic growth was even worse than expected. ...
Tue 21st April 2009 - 12:18pm
The Reserve Bank of Australia cut interest rates earlier this month after it realised the outlook for economic growth was even worse than expected. ...
Tue 21st April 2009 - 12:18pm
Westpac lifts rates on fixed home loans
Westpac Banking Corporation raised its interest rates on fixed home loans by up to 40 basis points from Tuesday. ...
Tue 21st April 2009 - 12:10pm
Westpac Banking Corporation raised its interest rates on fixed home loans by up to 40 basis points from Tuesday. ...
Tue 21st April 2009 - 12:10pm
Profits mask bank problems- analysts
A string of surprisingly strong earnings reports suggests US banks are emerging from a near-death experience- but some analysts say the sector faces more pain. ...
Tue 21st April 2009 - 11:59am
A string of surprisingly strong earnings reports suggests US banks are emerging from a near-death experience- but some analysts say the sector faces more pain. ...
Tue 21st April 2009 - 11:59am
Oil Search output dips in March quarter
Papua New Guinea-focused Oil Search Ltd has reported a drop in March quarter oil and gas production but says it expects a better second quarter performance. ...
Tue 21st April 2009 - 11:53am
Papua New Guinea-focused Oil Search Ltd has reported a drop in March quarter oil and gas production but says it expects a better second quarter performance. ...
Tue 21st April 2009 - 11:53am
Bad news prompted RBA April rate cut
The Reserve Bank of Australia cut interest rates earlier this month after it realised the outlook for economic growth was even worse than expected. ...
Tue 21st April 2009 - 11:51am
The Reserve Bank of Australia cut interest rates earlier this month after it realised the outlook for economic growth was even worse than expected. ...
Tue 21st April 2009 - 11:51am
NAB ups mortgages rates- ANZ unchanged
National Australia Bank has confirmed it has raised interest rates on fixed home loans by 20 basis points carrying a two and three year term. ...
Tue 21st April 2009 - 11:44am
National Australia Bank has confirmed it has raised interest rates on fixed home loans by 20 basis points carrying a two and three year term. ...
Tue 21st April 2009 - 11:44am
Melbourne water prices tipped to rise 60pc
Victorias water regulator will recommend water prices rise by up to 60 per cent over the next four years. ...
Tue 21st April 2009 - 11:40am
Victorias water regulator will recommend water prices rise by up to 60 per cent over the next four years. ...
Tue 21st April 2009 - 11:40am
Oil Search output dips in March quarter
Papua New Guinea-focused Oil Search Ltd has reported a drop in March quarter oil and gas production but says it expects a better second quarter performance. ...
Tue 21st April 2009 - 11:34am
Papua New Guinea-focused Oil Search Ltd has reported a drop in March quarter oil and gas production but says it expects a better second quarter performance. ...
Tue 21st April 2009 - 11:34am
Australian shares sink on doubts over bad loans- profits
MELBOURNE- April 21 - Australian stocks fell 2.4 percent on Tuesday- led down by banks and miners- tracking a slide on Wall Street sparked by fresh concerns about the state of the U.S. banking industry and the economy. ...
Tue 21st April 2009 - 11:34am
MELBOURNE- April 21 - Australian stocks fell 2.4 percent on Tuesday- led down by banks and miners- tracking a slide on Wall Street sparked by fresh concerns about the state of the U.S. banking industry and the economy. ...
Tue 21st April 2009 - 11:34am
Tilt train closure not affecting tourism yet
The head of Tourism Tropical North Queensland TTNQ says the closure of tilt train services between Brisbane and Cairns is not yet impacting on tourism. ...
Tue 21st April 2009 - 11:34am
The head of Tourism Tropical North Queensland TTNQ says the closure of tilt train services between Brisbane and Cairns is not yet impacting on tourism. ...
Tue 21st April 2009 - 11:34am
Asciano reports non-binding offers
Ports and rail freight operator Asciano Group says it has received some proposed takeover offers and offers for individual assets- but they are non-binding. ...
Tue 21st April 2009 - 11:24am
Ports and rail freight operator Asciano Group says it has received some proposed takeover offers and offers for individual assets- but they are non-binding. ...
Tue 21st April 2009 - 11:24am
Shares fall after Wall St plunge
The Australian share market is falling sharply in early trade after losses of more than 3.5 per cent on Wall Street overnight. ...
Tue 21st April 2009 - 11:19am
The Australian share market is falling sharply in early trade after losses of more than 3.5 per cent on Wall Street overnight. ...
Tue 21st April 2009 - 11:19am
NAB ups mortgages rates- ANZ unchanged
National Australia Bank has confirmed it has raised interest rates on fixed home loans by 20 basis points carrying a two and three year term. ...
Tue 21st April 2009 - 11:16am
National Australia Bank has confirmed it has raised interest rates on fixed home loans by 20 basis points carrying a two and three year term. ...
Tue 21st April 2009 - 11:16am
Hazelwood ups Big Hill tungsten estimate
Hazelwood Resources is claiming its Big Hill tungsten deposit is the largest measured source of the metal in Australia. ...
Tue 21st April 2009 - 11:14am
Hazelwood Resources is claiming its Big Hill tungsten deposit is the largest measured source of the metal in Australia. ...
Tue 21st April 2009 - 11:14am
Noonamah airstrip acquisition not on agenda- Govt
The Northern Territory Government says it has no plans to compulsorily acquire land around the Noonamah airstrip- south of Darwin. ...
Tue 21st April 2009 - 11:14am
The Northern Territory Government says it has no plans to compulsorily acquire land around the Noonamah airstrip- south of Darwin. ...
Tue 21st April 2009 - 11:14am
Compulsory acquisition of Noonamah airstrip not on agenda- Govt
The Northern Territory Government says it has no plans to compulsorily acquire land around the Noonamah airstrip- south of Darwin. ...
Tue 21st April 2009 - 10:50am
The Northern Territory Government says it has no plans to compulsorily acquire land around the Noonamah airstrip- south of Darwin. ...
Tue 21st April 2009 - 10:50am
Caravan holidays on the rise in Qld
Caravaning Queensland CQ says the global economic downturn is encouraging people to travel domestically. ...
Tue 21st April 2009 - 10:44am
Caravaning Queensland CQ says the global economic downturn is encouraging people to travel domestically. ...
Tue 21st April 2009 - 10:44am
Railway line linking WA and QLD via NT proposed
The worldwide recession is not stopping an Australian developer from proposing an ambitious new multi-million dollar railway line linking Western Australia and Queensland via the Northern Territory. ...
Tue 21st April 2009 - 10:31am
The worldwide recession is not stopping an Australian developer from proposing an ambitious new multi-million dollar railway line linking Western Australia and Queensland via the Northern Territory. ...
Tue 21st April 2009 - 10:31am
Australian shares slide on banks- miners
MELBOURNE- April 21 - Australian stocks fell 2.6 percent in early trade on Tuesday- led down by the banks and miners- tracking a slide on Wall Street sparked by fresh concerns about the state of the U.S. banking industry and the economy. ...
Tue 21st April 2009 - 10:27am
MELBOURNE- April 21 - Australian stocks fell 2.6 percent in early trade on Tuesday- led down by the banks and miners- tracking a slide on Wall Street sparked by fresh concerns about the state of the U.S. banking industry and the economy. ...
Tue 21st April 2009 - 10:27am
Aristocrat expects profit of $40m- $50m
Aristocrat Leisure Ltd expects a -amp quotdisappointing -amp quot first-half net profit between $40 million and $50 million- mainly as the Japanese market weakens. ...
Tue 21st April 2009 - 09:54am
Aristocrat Leisure Ltd expects a -amp quotdisappointing -amp quot first-half net profit between $40 million and $50 million- mainly as the Japanese market weakens. ...
Tue 21st April 2009 - 09:54am
PO Valley Energy Limited ASX-PVE Italian Gas Appraisal Well Tests Positive On All Three Levels
Rome- Italy- Apr 21- 2009 - ABN Newswire - Strong flow rates with rapid pressure recoveries have been reported by Australias PO Valley Energy ASX-PVE after the successful completion of all production tests at its Bezzecca 1 appraisal well in northern Italy.Po Valley announced today the results of 10 days of testing on three levels at Bezzecca 1 - deep Miocene- shallow Miocene and the Pliocene. ...
Tue 21st April 2009 - 09:50am
Rome- Italy- Apr 21- 2009 - ABN Newswire - Strong flow rates with rapid pressure recoveries have been reported by Australias PO Valley Energy ASX-PVE after the successful completion of all production tests at its Bezzecca 1 appraisal well in northern Italy.Po Valley announced today the results of 10 days of testing on three levels at Bezzecca 1 - deep Miocene- shallow Miocene and the Pliocene. ...
Tue 21st April 2009 - 09:50am
Aristocrat Leisure in trading halt
Shares in gaming company Aristocrat Leisure have been placed in a trading halt ahead of a share placement aimed at raising $200 million. ...
Tue 21st April 2009 - 09:49am
Shares in gaming company Aristocrat Leisure have been placed in a trading halt ahead of a share placement aimed at raising $200 million. ...
Tue 21st April 2009 - 09:49am
Aussie dlr bruised by bank fears revival bonds fly
SYDNEY- April 21 - The Australian dollar AUDD4 bounced from three-week lows on Tuesday- but continued to nurse hefty losses as fears about the banking system flared again after the largest U.S. bank warned of worsening credit situation. ...
Tue 21st April 2009 - 09:44am
SYDNEY- April 21 - The Australian dollar AUDD4 bounced from three-week lows on Tuesday- but continued to nurse hefty losses as fears about the banking system flared again after the largest U.S. bank warned of worsening credit situation. ...
Tue 21st April 2009 - 09:44am
Emissions trading will cost Ford millions
Ford Australia says it is concerned the Federal Governments emissions trading scheme will significantly increase its costs. ...
Tue 21st April 2009 - 09:44am
Ford Australia says it is concerned the Federal Governments emissions trading scheme will significantly increase its costs. ...
Tue 21st April 2009 - 09:44am
Coles turnaround is on track- Wesfarmers
Wesfarmers Ltd says its Coles turnaround is on track- as total food and liquor sales rose 7.6 per cent to $5.3 billion for the quarter to March. ...
Tue 21st April 2009 - 09:39am
Wesfarmers Ltd says its Coles turnaround is on track- as total food and liquor sales rose 7.6 per cent to $5.3 billion for the quarter to March. ...
Tue 21st April 2009 - 09:39am
Premier repeats mill support line in the sand
Tasmanias Premier has again ruled out any more financial or legislative support for Gunns proposed northern pulp mill. ...
Tue 21st April 2009 - 09:28am
Tasmanias Premier has again ruled out any more financial or legislative support for Gunns proposed northern pulp mill. ...
Tue 21st April 2009 - 09:28am
Swan denies recession smokescreen claims
Treasurer Wayne Swan says the Opposition is desperate to suggest the Governments admission that Australia is heading into recession is an attempt to distract attention from the debate over asylum seekers. ...
Tue 21st April 2009 - 09:24am
Treasurer Wayne Swan says the Opposition is desperate to suggest the Governments admission that Australia is heading into recession is an attempt to distract attention from the debate over asylum seekers. ...
Tue 21st April 2009 - 09:24am
Pacific Brands extends debt maturity
Mercer Pacific Brands says it has extended the maturity profile of its debt facilities. ...
Tue 21st April 2009 - 09:21am
Mercer Pacific Brands says it has extended the maturity profile of its debt facilities. ...
Tue 21st April 2009 - 09:21am
Colombia seeks $US10.4b credit line- IMF
The International Monetary Fund says Colombia is seeking a $A14.9 billion credit line as a precautionary step to cope with the global financial crisis. ...
Tue 21st April 2009 - 09:15am
The International Monetary Fund says Colombia is seeking a $A14.9 billion credit line as a precautionary step to cope with the global financial crisis. ...
Tue 21st April 2009 - 09:15am
Branches closing due to lack of demand- NAB
The National Australia Bank says it is closing seven branches in Victoria because there is a lack of demand in those areas. ...
Tue 21st April 2009 - 09:12am
The National Australia Bank says it is closing seven branches in Victoria because there is a lack of demand in those areas. ...
Tue 21st April 2009 - 09:12am
Rio shareholders dispute bosses' pay
Rio Tinto faced anger from shareholders with nearly one in five rejecting a proposed pay package for its directors- it revealed after an annual meeting. ...
Tue 21st April 2009 - 08:52am
Rio Tinto faced anger from shareholders with nearly one in five rejecting a proposed pay package for its directors- it revealed after an annual meeting. ...
Tue 21st April 2009 - 08:52am
Brush up on money skills- Bernanke says
Americans need to sharpen their financial know-how to help them best use their money- US Federal Reserve Chairman Ben Bernanke said. ...
Tue 21st April 2009 - 08:48am
Americans need to sharpen their financial know-how to help them best use their money- US Federal Reserve Chairman Ben Bernanke said. ...
Tue 21st April 2009 - 08:48am
Rios China Line
Rio Tintos board and management remains very wedded to the idea of the Chinalco cash injection and equity deal- they spent a long time at yesterdays Australian AGM of the mining giant defending it and talking it up.From media reports of the meeting- and from reports of the London meeting- the issue has dominated the 2009 AGMs for the best part of -amp 160six hours of talk- questions and defence at both functions.So voluminous has been the defence that youd have to say the Rio board seems to be taking a big- unhedged bet on approval of the deal by the Australian government.Talk of a Plan B or C appears to be carefully constructed briefings and leaks of possible other methods of finding the money.But the companys new chairman- -amp 160Jan du -amp 160Plessis- made it clear he didnt see a need for Plan B But then he also said he hadnt had time to visit any of the companys Australian operations.Last weeks bond raising- plus cash on hand and available cash flow has just about covered the $US9.8 billion that will be needed later this year- thereby easing the pressure to do an instant deal if the original Chinalco sale is rejected by Canberra.Yesterday saw departing chairman- Paul Skinner endorse the Chinalco deal- matched by CEO Tom Albanese and the incoming chairman- Jan du Plessis.No second thoughts there.The new chairman says completing the controversial Chinalco deal will be his first priority. -amp quotWe are committed to pursing the Chinalco transaction- Mr du Plessis told shareholders after becoming chairman at the global miners annual meeting in Sydney. -amp quotI dont like the idea of a plan B. -amp quotChinalco was attractive in early February for financial and strategic reasons and our stance hasnt changed.But he gave off conflicting messages- talking about not doing the Chinalco deal if shareholders rejected it- which they may or may not at a meeting following any approval by Canberra. -amp 160That wont happen to the third quarter of the year.Some analysts wonder if the rise in the companys share price and markets since February- when the deal was revealed- will end up a more important factor.Shareholders in London last week spoke against the offer and yesterday was no different in Sydney. Some used the rebound in markets to illustrate why Rio should be looking for other solutions to the debt problem.Mr Skinner- in his last appearance as Chairman- said the Chinalco deal was a good move for worlds third-largest miner- and for Australia. -amp quotWe anticipate that investment in China will start to gain strength later this year with the support of public-sector spending on transport infrastructure and housing- -amp quot Mr Skinner said in a presentation to shareholders. -amp quotHowever- given weakness in the more developed economies- it is unlikely that we will see a synchronised global recovery for the next 12 to 18 months- -amp quot he said.He said the mining giant was confronted by -amp quotvery difficult markets -amp quot and weak demand. -amp quotChina will remain key to the performance of our markets as the primary driver of growth in commodity demand- -amp quot Mr Skinner said.And Mr Albanese said Australia has a large stake in the outcome of the proposed deal. -amp quotThere is currently an opportunity for Australia to position itself for a mutually rewarding relationship that could define the next few decades- -amp quot he told the meeting.The deal will see Chinalco subscribing for $US7.2 billion of convertible debt and $US12.3 billion worth of stakes in projects owned by Rio- the worlds third largest mining company in aluminium- copper and iron ore. -amp quotBy facilitating a deeper engagement with China- including by allowing substantial inflows of capital- we could forge stronger and more enduring export markets- -amp quot Mr Albanese said in the speech. -amp quotThe Australia-China relationship is critical for both countries and Rio Tinto supports efforts that will bring the two countries closer together. -amp quotAnd in his address- Mr Skinner made sure everyone at the meeting got the message about the importance of China not only from the point of view of the Chinalco deal- but more broadly speaking. -amp quotRio Tintos long term outlook for commodities has not fundamentally changed. China will remain key to the performance of our markets as the primary driver of growth in commodity demand. -amp 160 -amp quotIt is true that economic growth rates in China have fallen as a result of a sharp slowdown in its western export markets- and from the tightening of its monetary policy in 2007 to damp down inflationary pressures. -amp quotBut China has the policy levers and economic tools to restore its growth momentum- and is now applying a very substantial stimulus package to its economy. -amp quotAt the global level it was encouraging see the emphasis by the G20 nations on fiscal stimulus and the importance of free trade. -amp quotWhen global economic activity recovers - and predicting the timing is very difficult - we could see metals and minerals demand pick up quite rapidly- driven by the requirement to rebuild stocks and make up the backlog of development projects slowed by the recession. -amp quotBased on underlying trends of urbanisation and industrialisation across a very large population- we believe the fundamentals of the Chinese economy- and other fast growing markets like India- remain intact- and that our industrys long term prospects remain very positive. -amp quotWe anticipate that investment in China will start to gain strength later this year with the support of public sector spending on transport infrastructure and housing. -amp quotHowever- given weakness in the more developed economies- it is unlikely that we will see a synchronised global recovery for the next 12 to 18 months. -amp quotThe potential partnership with Chinalco will strengthen our position during this period of extreme uncertainty. -amp quot -amp quotWe do not know how long the downturn will last- but- thanks to our people and assets- we will remain ideally placed to benefit from the upturn when it comes- especially with the proposed strengthening from Chinalco- -amp quot Mr Skinner said.In the market no one was listening investors sold off the shares and they closed down 3.5 or more than $2 a share at $57.06- after hitting a days low of $56.50.Overnight world markets fell- the US heavily as signs emerged of the market bounce being overstretched.If thats reversed- the pressure will return for Rio to do the Chinalco deal. -amp 160 ...
Tue 21st April 2009 - 08:36am
Rio Tintos board and management remains very wedded to the idea of the Chinalco cash injection and equity deal- they spent a long time at yesterdays Australian AGM of the mining giant defending it and talking it up.From media reports of the meeting- and from reports of the London meeting- the issue has dominated the 2009 AGMs for the best part of -amp 160six hours of talk- questions and defence at both functions.So voluminous has been the defence that youd have to say the Rio board seems to be taking a big- unhedged bet on approval of the deal by the Australian government.Talk of a Plan B or C appears to be carefully constructed briefings and leaks of possible other methods of finding the money.But the companys new chairman- -amp 160Jan du -amp 160Plessis- made it clear he didnt see a need for Plan B But then he also said he hadnt had time to visit any of the companys Australian operations.Last weeks bond raising- plus cash on hand and available cash flow has just about covered the $US9.8 billion that will be needed later this year- thereby easing the pressure to do an instant deal if the original Chinalco sale is rejected by Canberra.Yesterday saw departing chairman- Paul Skinner endorse the Chinalco deal- matched by CEO Tom Albanese and the incoming chairman- Jan du Plessis.No second thoughts there.The new chairman says completing the controversial Chinalco deal will be his first priority. -amp quotWe are committed to pursing the Chinalco transaction- Mr du Plessis told shareholders after becoming chairman at the global miners annual meeting in Sydney. -amp quotI dont like the idea of a plan B. -amp quotChinalco was attractive in early February for financial and strategic reasons and our stance hasnt changed.But he gave off conflicting messages- talking about not doing the Chinalco deal if shareholders rejected it- which they may or may not at a meeting following any approval by Canberra. -amp 160That wont happen to the third quarter of the year.Some analysts wonder if the rise in the companys share price and markets since February- when the deal was revealed- will end up a more important factor.Shareholders in London last week spoke against the offer and yesterday was no different in Sydney. Some used the rebound in markets to illustrate why Rio should be looking for other solutions to the debt problem.Mr Skinner- in his last appearance as Chairman- said the Chinalco deal was a good move for worlds third-largest miner- and for Australia. -amp quotWe anticipate that investment in China will start to gain strength later this year with the support of public-sector spending on transport infrastructure and housing- -amp quot Mr Skinner said in a presentation to shareholders. -amp quotHowever- given weakness in the more developed economies- it is unlikely that we will see a synchronised global recovery for the next 12 to 18 months- -amp quot he said.He said the mining giant was confronted by -amp quotvery difficult markets -amp quot and weak demand. -amp quotChina will remain key to the performance of our markets as the primary driver of growth in commodity demand- -amp quot Mr Skinner said.And Mr Albanese said Australia has a large stake in the outcome of the proposed deal. -amp quotThere is currently an opportunity for Australia to position itself for a mutually rewarding relationship that could define the next few decades- -amp quot he told the meeting.The deal will see Chinalco subscribing for $US7.2 billion of convertible debt and $US12.3 billion worth of stakes in projects owned by Rio- the worlds third largest mining company in aluminium- copper and iron ore. -amp quotBy facilitating a deeper engagement with China- including by allowing substantial inflows of capital- we could forge stronger and more enduring export markets- -amp quot Mr Albanese said in the speech. -amp quotThe Australia-China relationship is critical for both countries and Rio Tinto supports efforts that will bring the two countries closer together. -amp quotAnd in his address- Mr Skinner made sure everyone at the meeting got the message about the importance of China not only from the point of view of the Chinalco deal- but more broadly speaking. -amp quotRio Tintos long term outlook for commodities has not fundamentally changed. China will remain key to the performance of our markets as the primary driver of growth in commodity demand. -amp 160 -amp quotIt is true that economic growth rates in China have fallen as a result of a sharp slowdown in its western export markets- and from the tightening of its monetary policy in 2007 to damp down inflationary pressures. -amp quotBut China has the policy levers and economic tools to restore its growth momentum- and is now applying a very substantial stimulus package to its economy. -amp quotAt the global level it was encouraging see the emphasis by the G20 nations on fiscal stimulus and the importance of free trade. -amp quotWhen global economic activity recovers - and predicting the timing is very difficult - we could see metals and minerals demand pick up quite rapidly- driven by the requirement to rebuild stocks and make up the backlog of development projects slowed by the recession. -amp quotBased on underlying trends of urbanisation and industrialisation across a very large population- we believe the fundamentals of the Chinese economy- and other fast growing markets like India- remain intact- and that our industrys long term prospects remain very positive. -amp quotWe anticipate that investment in China will start to gain strength later this year with the support of public sector spending on transport infrastructure and housing. -amp quotHowever- given weakness in the more developed economies- it is unlikely that we will see a synchronised global recovery for the next 12 to 18 months. -amp quotThe potential partnership with Chinalco will strengthen our position during this period of extreme uncertainty. -amp quot -amp quotWe do not know how long the downturn will last- but- thanks to our people and assets- we will remain ideally placed to benefit from the upturn when it comes- especially with the proposed strengthening from Chinalco- -amp quot Mr Skinner said.In the market no one was listening investors sold off the shares and they closed down 3.5 or more than $2 a share at $57.06- after hitting a days low of $56.50.Overnight world markets fell- the US heavily as signs emerged of the market bounce being overstretched.If thats reversed- the pressure will return for Rio to do the Chinalco deal. -amp 160 ...
Tue 21st April 2009 - 08:36am
AHG Says Its Riding Out Car Slump
Car seller and logistics firm Automotive Holdings Group AHG believes it can deliver a solid full-year result- despite the slump in car sales in the past six months.AHG is the countrys largest automotive retailer and told the ASX in an update yesterday that it had maintained a -amp quotstable -amp quot performance in the current financial year.The company however said it remained cautious about the economic outlook and general trading conditions.But expects similar earnings for the final quarter to those in the second and third quarters of the 2009 financial year.The company said the federal governments stimulation package and proposed 30 investment tax allowance may help boost sales and earnings.AHGs managing director Bronte Howson said in the statement that the group had been able to endure difficult market conditions during the 2009 financial year. -amp quotWhilst the challenging conditions are expected to continue- we believe AHG will deliver a creditable full-year result- -amp quot Mr Howson said. -amp quotWe have demonstrated the groups ability to maintain a strong level of earnings during difficult market conditions and feel confident about AHGs ability to improve revenue and earnings growth as markets recover. -amp quotAHG said that for the nine months to March 31- 2009 it had achieved a net profit after tax NPAT of $29.3 million from continuing operations unaudited- pre adjustments reported in December 2008.The profit 85 of that earned in the previous corresponding period and excluded a GST holdback refund of $4.75 million pre-tax.NPAT for the quarter was $11.1 million.Group earnings before interest and tax- depreciation and amortisation from continuing operations for the nine months were $75.3 million unaudited- 91 of the previous corresponding period.That was after the interim result saw the company report an underlying net operating profit after tax from continuing operations of $18.2 million for the period December half on Group revenue of $1.6 billion.The company said its automotive division outperformed the broader industry in the 6 month period to December 31- 2008- with AHGs new car unit sales volumes declining just 6 compared to a 12 decline in the overall market.Mr Howson said the groups first-half result was cushioned by the strong performance of the logistics division- particularly from Rand Transport which experienced increased demand for cold storage and refrigerated-transport services. -amp quotWhilst the logistics division continues to perform strongly- the automotive division has improved from the weaker conditions experienced in the first half- -amp quot Mr Howson said. -amp quotThis is largely the result of lower interest costs and strict controls in areas such as inventories and operating costs. -amp quotMr Howson said AHG sales of new cars had fallen 9.8 in the nine-month period- compared to a 13.5 for the market as a whole. At the halfway mark sales were off 6 in a market down 12.AHG said yesterday the groups parts and servicing revenues are up on the previous corresponding period- while finance revenue was maintained.AHG shares rose 4.5c to $1.245 yesterday- up 3.75. ...
Tue 21st April 2009 - 08:34am
Car seller and logistics firm Automotive Holdings Group AHG believes it can deliver a solid full-year result- despite the slump in car sales in the past six months.AHG is the countrys largest automotive retailer and told the ASX in an update yesterday that it had maintained a -amp quotstable -amp quot performance in the current financial year.The company however said it remained cautious about the economic outlook and general trading conditions.But expects similar earnings for the final quarter to those in the second and third quarters of the 2009 financial year.The company said the federal governments stimulation package and proposed 30 investment tax allowance may help boost sales and earnings.AHGs managing director Bronte Howson said in the statement that the group had been able to endure difficult market conditions during the 2009 financial year. -amp quotWhilst the challenging conditions are expected to continue- we believe AHG will deliver a creditable full-year result- -amp quot Mr Howson said. -amp quotWe have demonstrated the groups ability to maintain a strong level of earnings during difficult market conditions and feel confident about AHGs ability to improve revenue and earnings growth as markets recover. -amp quotAHG said that for the nine months to March 31- 2009 it had achieved a net profit after tax NPAT of $29.3 million from continuing operations unaudited- pre adjustments reported in December 2008.The profit 85 of that earned in the previous corresponding period and excluded a GST holdback refund of $4.75 million pre-tax.NPAT for the quarter was $11.1 million.Group earnings before interest and tax- depreciation and amortisation from continuing operations for the nine months were $75.3 million unaudited- 91 of the previous corresponding period.That was after the interim result saw the company report an underlying net operating profit after tax from continuing operations of $18.2 million for the period December half on Group revenue of $1.6 billion.The company said its automotive division outperformed the broader industry in the 6 month period to December 31- 2008- with AHGs new car unit sales volumes declining just 6 compared to a 12 decline in the overall market.Mr Howson said the groups first-half result was cushioned by the strong performance of the logistics division- particularly from Rand Transport which experienced increased demand for cold storage and refrigerated-transport services. -amp quotWhilst the logistics division continues to perform strongly- the automotive division has improved from the weaker conditions experienced in the first half- -amp quot Mr Howson said. -amp quotThis is largely the result of lower interest costs and strict controls in areas such as inventories and operating costs. -amp quotMr Howson said AHG sales of new cars had fallen 9.8 in the nine-month period- compared to a 13.5 for the market as a whole. At the halfway mark sales were off 6 in a market down 12.AHG said yesterday the groups parts and servicing revenues are up on the previous corresponding period- while finance revenue was maintained.AHG shares rose 4.5c to $1.245 yesterday- up 3.75. ...
Tue 21st April 2009 - 08:34am
Corporates- Map- OST
Macquarie Airports MAP continues to report downbeat news.Last month it was the poor traffic figures from European airports and Australia in February- yesterday the March figures were not too flash.In fact its the third month of poor traffic figures from MAp- which is also reported to be trying to flog some of its holdings to raise cash.The 35.5 stake in -amp 160Bristol Airport in the UK is said to be a prime candidate- but buyers will be scarce at the prices MAp wants with at least one- perhaps two of the major airports in London to be sold.Traffic at Sydney Airport was down 5.4 on the previous March period- with domestic traffic down 3.5 and international traffic excluding domestic transfers down 8.7 on the corresponding period in 2008.That helps explain the Qantas capacity and staff cuts revealed last week.Qantas explained that its international business travel was down sharply- but MAps figures would indicate that travel numbers generally are much lower.It released figures showing changes in passenger mix for Sydney- -amp quotChina was the major market which grew 11 with traveller declines for Australia - 11- the UK -13- New Zealand -9- the US -6- Japan -22- Korea - 16- India -4- Canada -10- Germany -5 and France -2. -amp quotMAp said traffic at Copenhagen was down 15.6- Brussels was 14.7 lower and Bristol in the UK saw a fall of 22.8 on last year. -amp quotIn March- MAps airports continued to be impacted by the winter capacity reductions- -amp quot chief executive Kerrie Mather said in a statement. -amp quotPositively- the new summer schedules commenced at all of the European airports on March 29. -amp quotThe capacity reductions in these schedules represent a moderation over the just-completed winter schedules. -amp quotMAp said traffic in the current period across all airports had been affected by the timing of Easter- which shifted from March in 2008 to April this year- shifting international passengers from March to April.Ms Mather said new budget airlines could help boost ticket sales- however. -amp quotWe are pleased to be welcoming Tiger Airways to Sydney Airport. They will commence a Sydney-Melbourne service in July- further enhancing passenger choice on that route- -amp quot Ms Mather said. -amp quotCopenhagen in particular should benefit from the new services from several low-cost carriers which more than replace the capacity lost when the low-cost carrier Sterling collapsed. -amp quotEuropean travel agencies and airlines indicate that ticket sales for the summer holiday period look reasonable. -amp quotLooking at the third downgrade for travel group- Flight Centre- and the more than 1-000 job cuts- its hard to find many players in air travel doing well.MAp securities eased 5c or 2.65 to $1.84 on the ASX. ...
Tue 21st April 2009 - 08:25am
Macquarie Airports MAP continues to report downbeat news.Last month it was the poor traffic figures from European airports and Australia in February- yesterday the March figures were not too flash.In fact its the third month of poor traffic figures from MAp- which is also reported to be trying to flog some of its holdings to raise cash.The 35.5 stake in -amp 160Bristol Airport in the UK is said to be a prime candidate- but buyers will be scarce at the prices MAp wants with at least one- perhaps two of the major airports in London to be sold.Traffic at Sydney Airport was down 5.4 on the previous March period- with domestic traffic down 3.5 and international traffic excluding domestic transfers down 8.7 on the corresponding period in 2008.That helps explain the Qantas capacity and staff cuts revealed last week.Qantas explained that its international business travel was down sharply- but MAps figures would indicate that travel numbers generally are much lower.It released figures showing changes in passenger mix for Sydney- -amp quotChina was the major market which grew 11 with traveller declines for Australia - 11- the UK -13- New Zealand -9- the US -6- Japan -22- Korea - 16- India -4- Canada -10- Germany -5 and France -2. -amp quotMAp said traffic at Copenhagen was down 15.6- Brussels was 14.7 lower and Bristol in the UK saw a fall of 22.8 on last year. -amp quotIn March- MAps airports continued to be impacted by the winter capacity reductions- -amp quot chief executive Kerrie Mather said in a statement. -amp quotPositively- the new summer schedules commenced at all of the European airports on March 29. -amp quotThe capacity reductions in these schedules represent a moderation over the just-completed winter schedules. -amp quotMAp said traffic in the current period across all airports had been affected by the timing of Easter- which shifted from March in 2008 to April this year- shifting international passengers from March to April.Ms Mather said new budget airlines could help boost ticket sales- however. -amp quotWe are pleased to be welcoming Tiger Airways to Sydney Airport. They will commence a Sydney-Melbourne service in July- further enhancing passenger choice on that route- -amp quot Ms Mather said. -amp quotCopenhagen in particular should benefit from the new services from several low-cost carriers which more than replace the capacity lost when the low-cost carrier Sterling collapsed. -amp quotEuropean travel agencies and airlines indicate that ticket sales for the summer holiday period look reasonable. -amp quotLooking at the third downgrade for travel group- Flight Centre- and the more than 1-000 job cuts- its hard to find many players in air travel doing well.MAp securities eased 5c or 2.65 to $1.84 on the ASX. ...
Tue 21st April 2009 - 08:25am
Colombia seeks $10.4 bln credit line- IMF
WASHINGTON AFP - The International Monetary Fund Monday said that Colombia is seeking a 10. ...
Tue 21st April 2009 - 08:23am
WASHINGTON AFP - The International Monetary Fund Monday said that Colombia is seeking a 10. ...
Tue 21st April 2009 - 08:23am
Americas Greenhouse Move
Heres something to keep an eye on.In a move that could have dramatic implications worldwide- the powerful United States Environmental Protection Agency is proposing to regulate the six main greenhouse gases on the basis that they are a danger to public health.The move was revealed in a statement issued in Washington -amp 160Friday night- Australian time. -amp quotThe proposed finding- which now moves to a public comment period- identified six greenhouse gases that pose a potential threat- -amp quot the EPA said in the statement. -amp quotThis finding confirms that greenhouse gas pollution is a serious problem now and for future generations. -amp quotFortunately- it follows President Obamas call for a low carbon economy and strong leadership in Congress on clean energy and climate legislation- -amp quot said Administrator Lisa P. Jackson. -amp quotThis pollution problem has a solution - one that will create millions of green jobs and end our countrys dependence on foreign oil. -amp quot -amp quotEPAs proposed endangerment finding is based on rigorous- peer-reviewed scientific analysis of six gases - carbon dioxide- methane- nitrous oxide- hydrofluorocarbons- perfluorocarbons and sulfur hexafluoride - that have been the subject of intensive analysis by scientists around the world. -amp quotThe science clearly shows that concentrations of these gases are at unprecedented levels as a result of human emissions- and these high levels are very likely the cause of the increase in average temperatures and other changes in our climate. -amp quotThe announcement has already started a public brawl between the Administration- President Obamas Administration and Democratic members of Congress who claim the EPs proposal will harm Congress moves to tighten up on climate change and the environment. Business and the Republicans will naturally be upset with outlandish forecasts about cost increases.Many Democrats want a cap and trade system such as Congressman- Henry Waxman- a powerful and publicity mad Democrat.The move which is being made under the Clean Air Act of 1973- does have the capacity to circumvent Congress and the legion of lobbyists for industry- greens and everyone else with an interest in this very emotive issue.Congress Waxman told Bloomberg TV at the weekend that draft legislation being debated this week by a panel of the House Energy and Commerce Committee would -amp quotsupersede -amp quot EPA regulation.Waxman is the committee chairman. He says his draft bill would require industrial polluters to get permits for emissions- which then could be bought and sold on a market.As President Obama has made curbing greenhouse gases a priority- the move can be seen as putting pressure on Congress to come up with legislation.The President has asked Congress to pass legislation that would cap carbon- dioxide emissions- theres a monetary lure- Obama has factored in $US650 billion in revenue from a cap-and-trade system from 2012 to 2019.Bloomberg says the draft legislation referred to be Congressman Waxman would cut greenhouse-gas emissions 20 by 2020. By 2050- emissions would be reduced 83 from 2005 levels under the plan.The EPAs rules would not allow that new source of trading revenue and tax income to be developed- unless overridden by the Congress.Like clean air- the move by the EPA- opens the way for new U.S. regulation of cars- power plants and factories. It also has the potential to reach beyond the borders of the US in that to sell products in the US foreign companies will have to conform.The proposed EPA move is the first formal action by the US government toward restricting carbon-dioxide emissions that climate scientists say contribute to global warming.The EPA has strong legal backing for its move.It is based on a Supreme Court ruling in April 2007 which said the government could restrict heat-trapping gases under the Clean Air Act if it found them a danger to the public health and welfare- and it ordered the EPA to make a determination.Former President George Bushs Administration wouldnt act- handing the issue over to the Obama Administration with the change of Government.In its statement the EPS said - -amp quotAs the proposed endangerment finding states- -amp quotIn both magnitude and probability- climate change is an enormous problem. The greenhouse gases that are responsible for it endanger public health and welfare within the meaning of the Clean Air Act. -amp quot -amp quotThe scientific analysis also confirms that climate change impacts human health in several ways. Findings from a recent EPA study titled -amp quotAssessment of the Impacts of Global Change on Regional U.S. Air Quality- A Synthesis of Climate Change Impacts on Ground-Level Ozone- -amp quot for example- suggest that climate change may lead to higher concentrations of ground-level ozone- a harmful pollutant. Additional impacts of climate change include- but are not limited to-Increased droughtMore heavy downpours and floodingMore frequent and intense heat waves and wildfiresGreater sea level riseMore intense storms andHarm to water resources- agriculture- wildlife and ecosystems. -amp quotIn proposing the finding- Administrator Jackson also took into account the disproportionate impact climate change has on the health of certain segments of the population- such as the poor- the very young- the elderly- those already in poor health- the disabled- those living alone and-or indigenous populations dependent on one or a few resources. -amp quotThe proposed endangerment finding now enters the public comment period- which is the next step in the deliberative process EPA must undertake before issuing final findings. -amp quotTodays proposed finding does not include any proposed regulations. Before taking any steps to reduce greenhouse gases under the Clean Air Act- EPA would conduct an appropriate process and consider stakeholder input. -amp quotNotwithstanding this required regulatory process- both President Obama and Administrator Jackson have repeatedly indicated their preference for comprehensive legislation to address this issue and create the framework for a clean energy economy. -amp quotThe EPS has already approved regulations that would force all American factories to produce annual reports on greenhouse emissions. They would start in 2011 and be based on 2010 emissions.The EPA also found Friday that heat-trapping emissions from motor vehicles cause or contribute to global warming.The Supreme Court case concerned new cars and trucks- the Clean Air Act directs the EPA to limit emissions from other sources such as power plants if a finding is made that greenhouse gases pose a danger- said Bookbinder of the Sierra Club.Bloomberg said US power plants account for about 40 of carbon-dioxide emissions- and vehicles make up about 30. And America produces about 20 of global man-made carbon-dioxide emissions- according to Energy Department figures. ...
Tue 21st April 2009 - 08:23am
Heres something to keep an eye on.In a move that could have dramatic implications worldwide- the powerful United States Environmental Protection Agency is proposing to regulate the six main greenhouse gases on the basis that they are a danger to public health.The move was revealed in a statement issued in Washington -amp 160Friday night- Australian time. -amp quotThe proposed finding- which now moves to a public comment period- identified six greenhouse gases that pose a potential threat- -amp quot the EPA said in the statement. -amp quotThis finding confirms that greenhouse gas pollution is a serious problem now and for future generations. -amp quotFortunately- it follows President Obamas call for a low carbon economy and strong leadership in Congress on clean energy and climate legislation- -amp quot said Administrator Lisa P. Jackson. -amp quotThis pollution problem has a solution - one that will create millions of green jobs and end our countrys dependence on foreign oil. -amp quot -amp quotEPAs proposed endangerment finding is based on rigorous- peer-reviewed scientific analysis of six gases - carbon dioxide- methane- nitrous oxide- hydrofluorocarbons- perfluorocarbons and sulfur hexafluoride - that have been the subject of intensive analysis by scientists around the world. -amp quotThe science clearly shows that concentrations of these gases are at unprecedented levels as a result of human emissions- and these high levels are very likely the cause of the increase in average temperatures and other changes in our climate. -amp quotThe announcement has already started a public brawl between the Administration- President Obamas Administration and Democratic members of Congress who claim the EPs proposal will harm Congress moves to tighten up on climate change and the environment. Business and the Republicans will naturally be upset with outlandish forecasts about cost increases.Many Democrats want a cap and trade system such as Congressman- Henry Waxman- a powerful and publicity mad Democrat.The move which is being made under the Clean Air Act of 1973- does have the capacity to circumvent Congress and the legion of lobbyists for industry- greens and everyone else with an interest in this very emotive issue.Congress Waxman told Bloomberg TV at the weekend that draft legislation being debated this week by a panel of the House Energy and Commerce Committee would -amp quotsupersede -amp quot EPA regulation.Waxman is the committee chairman. He says his draft bill would require industrial polluters to get permits for emissions- which then could be bought and sold on a market.As President Obama has made curbing greenhouse gases a priority- the move can be seen as putting pressure on Congress to come up with legislation.The President has asked Congress to pass legislation that would cap carbon- dioxide emissions- theres a monetary lure- Obama has factored in $US650 billion in revenue from a cap-and-trade system from 2012 to 2019.Bloomberg says the draft legislation referred to be Congressman Waxman would cut greenhouse-gas emissions 20 by 2020. By 2050- emissions would be reduced 83 from 2005 levels under the plan.The EPAs rules would not allow that new source of trading revenue and tax income to be developed- unless overridden by the Congress.Like clean air- the move by the EPA- opens the way for new U.S. regulation of cars- power plants and factories. It also has the potential to reach beyond the borders of the US in that to sell products in the US foreign companies will have to conform.The proposed EPA move is the first formal action by the US government toward restricting carbon-dioxide emissions that climate scientists say contribute to global warming.The EPA has strong legal backing for its move.It is based on a Supreme Court ruling in April 2007 which said the government could restrict heat-trapping gases under the Clean Air Act if it found them a danger to the public health and welfare- and it ordered the EPA to make a determination.Former President George Bushs Administration wouldnt act- handing the issue over to the Obama Administration with the change of Government.In its statement the EPS said - -amp quotAs the proposed endangerment finding states- -amp quotIn both magnitude and probability- climate change is an enormous problem. The greenhouse gases that are responsible for it endanger public health and welfare within the meaning of the Clean Air Act. -amp quot -amp quotThe scientific analysis also confirms that climate change impacts human health in several ways. Findings from a recent EPA study titled -amp quotAssessment of the Impacts of Global Change on Regional U.S. Air Quality- A Synthesis of Climate Change Impacts on Ground-Level Ozone- -amp quot for example- suggest that climate change may lead to higher concentrations of ground-level ozone- a harmful pollutant. Additional impacts of climate change include- but are not limited to-Increased droughtMore heavy downpours and floodingMore frequent and intense heat waves and wildfiresGreater sea level riseMore intense storms andHarm to water resources- agriculture- wildlife and ecosystems. -amp quotIn proposing the finding- Administrator Jackson also took into account the disproportionate impact climate change has on the health of certain segments of the population- such as the poor- the very young- the elderly- those already in poor health- the disabled- those living alone and-or indigenous populations dependent on one or a few resources. -amp quotThe proposed endangerment finding now enters the public comment period- which is the next step in the deliberative process EPA must undertake before issuing final findings. -amp quotTodays proposed finding does not include any proposed regulations. Before taking any steps to reduce greenhouse gases under the Clean Air Act- EPA would conduct an appropriate process and consider stakeholder input. -amp quotNotwithstanding this required regulatory process- both President Obama and Administrator Jackson have repeatedly indicated their preference for comprehensive legislation to address this issue and create the framework for a clean energy economy. -amp quotThe EPS has already approved regulations that would force all American factories to produce annual reports on greenhouse emissions. They would start in 2011 and be based on 2010 emissions.The EPA also found Friday that heat-trapping emissions from motor vehicles cause or contribute to global warming.The Supreme Court case concerned new cars and trucks- the Clean Air Act directs the EPA to limit emissions from other sources such as power plants if a finding is made that greenhouse gases pose a danger- said Bookbinder of the Sierra Club.Bloomberg said US power plants account for about 40 of carbon-dioxide emissions- and vehicles make up about 30. And America produces about 20 of global man-made carbon-dioxide emissions- according to Energy Department figures. ...
Tue 21st April 2009 - 08:23am
Australia shares set to follow Wall St down
All the major U.S. stock indices fell over 3 percent on Monday after weak results from Bank of America BAC.N saw it sold off sharply. ...
Tue 21st April 2009 - 08:13am
All the major U.S. stock indices fell over 3 percent on Monday after weak results from Bank of America BAC.N saw it sold off sharply. ...
Tue 21st April 2009 - 08:13am
China wealth fund 'may invest in Europe'
China's sovereign wealth fund is considering investments in Europe- the head of the $A276.7 billion organisation was quoted as saying on Monday. ...
Tue 21st April 2009 - 07:59am
China's sovereign wealth fund is considering investments in Europe- the head of the $A276.7 billion organisation was quoted as saying on Monday. ...
Tue 21st April 2009 - 07:59am
Worst is over for Britain- CBI forecast
A major business lobby group has predicted in a forecast that the worst of Britain's recession may be over- but growth would only resume next year. ...
Tue 21st April 2009 - 07:58am
A major business lobby group has predicted in a forecast that the worst of Britain's recession may be over- but growth would only resume next year. ...
Tue 21st April 2009 - 07:58am
Brush up on money skills- Bernanke says
Americans need to sharpen their financial know-how to help them best use their money- US Federal Reserve Chairman Ben Bernanke said. ...
Tue 21st April 2009 - 07:55am
Americans need to sharpen their financial know-how to help them best use their money- US Federal Reserve Chairman Ben Bernanke said. ...
Tue 21st April 2009 - 07:55am
EU investigates Star- oneworld alliances
The EU opened antitrust investigations into seven airlines that fly lucrative trans-Atlantic routes- saying it suspected their cooperation was illegal. ...
Tue 21st April 2009 - 07:54am
The EU opened antitrust investigations into seven airlines that fly lucrative trans-Atlantic routes- saying it suspected their cooperation was illegal. ...
Tue 21st April 2009 - 07:54am
Oil prices plunge to one-month low
Oil prices plunged as investors- nervous about a week chock-full of corporate earnings reports- sought safer havens in gold and the dollar. ...
Tue 21st April 2009 - 07:30am
Oil prices plunged as investors- nervous about a week chock-full of corporate earnings reports- sought safer havens in gold and the dollar. ...
Tue 21st April 2009 - 07:30am
Credit crunch crippling opal industry- miner
A western Queensland opal miner and retailer says the states multi-million dollar opal industry is struggling due to the world financial crisis. ...
Tue 21st April 2009 - 07:29am
A western Queensland opal miner and retailer says the states multi-million dollar opal industry is struggling due to the world financial crisis. ...
Tue 21st April 2009 - 07:29am
CityCat sale catches Qld Treasurer by surprise
Queensland Treasurer Andrew Fraser says he was surprised by the Brisbane City Councils move to sell its CityCat fleet. ...
Tue 21st April 2009 - 07:21am
Queensland Treasurer Andrew Fraser says he was surprised by the Brisbane City Councils move to sell its CityCat fleet. ...
Tue 21st April 2009 - 07:21am
Wall Street dives 3.5pc
Wall Street has plunged more 3.5 per cent after the Bank of America reported a rise in troubled loans. ...
Tue 21st April 2009 - 07:13am
Wall Street has plunged more 3.5 per cent after the Bank of America reported a rise in troubled loans. ...
Tue 21st April 2009 - 07:13am
Fujitsu Launches Network Services for Cloud Computing Era FENICS II Universal Connect Links Remote Users to Internal Networks Safely- Reliably
Tokyo- Apr 20- 2009 - JCN Newswire - Fujitsu Limited today announced the launch in Japan of FENICS II1 Universal Connect- a set of new network services for the cloud computing2 era which can authenticate remote network users and create secure- reliable connections between them and internal corporate systems over a variety of terminals and access channels. ...
Tue 21st April 2009 - 06:52am
Tokyo- Apr 20- 2009 - JCN Newswire - Fujitsu Limited today announced the launch in Japan of FENICS II1 Universal Connect- a set of new network services for the cloud computing2 era which can authenticate remote network users and create secure- reliable connections between them and internal corporate systems over a variety of terminals and access channels. ...
Tue 21st April 2009 - 06:52am
Australia could get electric car first
Australia is firming as the first export market for Mitsubishi's new plug-in electric car. ...
Tue 21st April 2009 - 06:48am
Australia is firming as the first export market for Mitsubishi's new plug-in electric car. ...
Tue 21st April 2009 - 06:48am
Bank of America up profit- prep reserves
Bank of America has reported a surge in first-quarter profits- but its hefty bad-debt provision sent shockwaves through Wall Street. ...
Tue 21st April 2009 - 06:42am
Bank of America has reported a surge in first-quarter profits- but its hefty bad-debt provision sent shockwaves through Wall Street. ...
Tue 21st April 2009 - 06:42am
Rio shareholders dispute bosses' pay
Rio Tinto faced anger from shareholders with nearly one in five rejecting a proposed pay package for its directors- it revealed after an annual meeting. ...
Tue 21st April 2009 - 06:38am
Rio Tinto faced anger from shareholders with nearly one in five rejecting a proposed pay package for its directors- it revealed after an annual meeting. ...
Tue 21st April 2009 - 06:38am
Oil drops over 8 pct on economic outlook- dollar
NEW YORK- April 20 - Oil slid over 8 percent to under $46 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 05:18am
NEW YORK- April 20 - Oil slid over 8 percent to under $46 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 05:18am
Fushan Energy Recorded Impressive Turnaround in 2008 Net Profit Increased to HK $707 million- Turnover up 126 times over Last Year
Hong Kong- Apr 20- 2009 - ACN Newswire - Fushan International Energy Group Limited the -amp quotCompany -amp quot- together with its subsidiaries- -amp quotFushan Energy -amp quot or the -amp quotGroup -amp quot stock code- 639.HK is pleased to announce its audited consolidated annual results for the year ended 31 December 2008 the -amp quotreviewing year -amp quot. ...
Tue 21st April 2009 - 04:59am
Hong Kong- Apr 20- 2009 - ACN Newswire - Fushan International Energy Group Limited the -amp quotCompany -amp quot- together with its subsidiaries- -amp quotFushan Energy -amp quot or the -amp quotGroup -amp quot stock code- 639.HK is pleased to announce its audited consolidated annual results for the year ended 31 December 2008 the -amp quotreviewing year -amp quot. ...
Tue 21st April 2009 - 04:59am
Allied Irish Bank says will seek more capital
DUBLIN AFP - Irelands Allied Irish Bank said Monday it will seek 1.5 billion euros 1. ...
Tue 21st April 2009 - 04:56am
DUBLIN AFP - Irelands Allied Irish Bank said Monday it will seek 1.5 billion euros 1. ...
Tue 21st April 2009 - 04:56am
China-produced Kia Forte Sedan Premieres at Shanghai Motor Show
Seoul- Apr 20- 2009 - ACN Newswire - Kia Motors Corporation- along with its joint venture Donfeng Yueda Kia DYK- has taken the wraps off its locally-produced Forte C-segment sedan export model from Korea known as -amp quotall-new Cerato -amp quot in many markets today at Auto Shanghai 2009- which runs through April 28 at the Shanghai New International Expo Center. ...
Tue 21st April 2009 - 04:56am
Seoul- Apr 20- 2009 - ACN Newswire - Kia Motors Corporation- along with its joint venture Donfeng Yueda Kia DYK- has taken the wraps off its locally-produced Forte C-segment sedan export model from Korea known as -amp quotall-new Cerato -amp quot in many markets today at Auto Shanghai 2009- which runs through April 28 at the Shanghai New International Expo Center. ...
Tue 21st April 2009 - 04:56am
Britains GSK buys US skincare firm Stiefel
LONDON AFP - British drugs firm GlaxoSmithKline GSK said Monday it will buy Stiefel Laboratories- US maker of anti-itching creams- acne treatments and other skincare products- for as much as 3.6 billion dollars. ...
Tue 21st April 2009 - 04:42am
LONDON AFP - British drugs firm GlaxoSmithKline GSK said Monday it will buy Stiefel Laboratories- US maker of anti-itching creams- acne treatments and other skincare products- for as much as 3.6 billion dollars. ...
Tue 21st April 2009 - 04:42am
Strong Petrochemical Announces Acquisition of an Oil Tanker
Hong Kong- Apr 20- 2009 - ACN Newswire - Strong Petrochemical Holdings Limited -amp quotStrong Petrochemical -amp quot or the -amp quotCompany -amp quot and its subsidiaries the -amp quotGroup -amp quot- Stock code- 852- an oil products trading company- today announced that the Group has entered into an agreement to acquire an oil tanker. ...
Tue 21st April 2009 - 04:40am
Hong Kong- Apr 20- 2009 - ACN Newswire - Strong Petrochemical Holdings Limited -amp quotStrong Petrochemical -amp quot or the -amp quotCompany -amp quot and its subsidiaries the -amp quotGroup -amp quot- Stock code- 852- an oil products trading company- today announced that the Group has entered into an agreement to acquire an oil tanker. ...
Tue 21st April 2009 - 04:40am
G8 takes first step against food price speculation
CISON DI VALMARINO- Italy AFP - The Group of Eight rich nations took a first step Monday towards fighting speculators who have helped push up the cost of basic foods- sparking riots in several poor countries. ...
Tue 21st April 2009 - 04:28am
CISON DI VALMARINO- Italy AFP - The Group of Eight rich nations took a first step Monday towards fighting speculators who have helped push up the cost of basic foods- sparking riots in several poor countries. ...
Tue 21st April 2009 - 04:28am
EU sees China unsafe products hitting record high
BRUSSELS AFP - The European Commission is not satisfied with Chinas record on dealing with consumer product safety- a commissioner said Monday- unveiling record high levels of dangerous goods. ...
Tue 21st April 2009 - 04:19am
BRUSSELS AFP - The European Commission is not satisfied with Chinas record on dealing with consumer product safety- a commissioner said Monday- unveiling record high levels of dangerous goods. ...
Tue 21st April 2009 - 04:19am
LG Enhances Environmental Leadership With Third Generation Linear Compressor
Seoul- Apr 20- 2009 - ACN Newswire - LG Electronics LG- a pioneer and leader in home appliance convergence- today launched its third generation linear compressor- furthering its global leadership in environmentally-friendly components and products- and setting another global standardin this area. ...
Tue 21st April 2009 - 04:13am
Seoul- Apr 20- 2009 - ACN Newswire - LG Electronics LG- a pioneer and leader in home appliance convergence- today launched its third generation linear compressor- furthering its global leadership in environmentally-friendly components and products- and setting another global standardin this area. ...
Tue 21st April 2009 - 04:13am
Oil drops nearly 8 pct on economic outlook- dollar
NEW YORK- April 20 - Oil slid nearly 8 percent to $46 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 03:19am
NEW YORK- April 20 - Oil slid nearly 8 percent to $46 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 03:19am
Saudi Kingdom group upgrades hotels
RIYADH AFP - Saudi Arabian tycoon Prince Alwaleed bin Talals Kingdom group said on Monday it is upgrading and expanding luxury hotels in Singapore and London- amid reports the hotels were up for sale. ...
Tue 21st April 2009 - 02:50am
RIYADH AFP - Saudi Arabian tycoon Prince Alwaleed bin Talals Kingdom group said on Monday it is upgrading and expanding luxury hotels in Singapore and London- amid reports the hotels were up for sale. ...
Tue 21st April 2009 - 02:50am
European stocks plunge- London down 2.49
LONDON AFP - European stock markets plunged on Monday amid fears over the US banking sector and Europes property market- with Londons FTSE 100 index of leading shares falling 2.49 percent to 3-990.86 points. ...
Tue 21st April 2009 - 01:59am
LONDON AFP - European stock markets plunged on Monday amid fears over the US banking sector and Europes property market- with Londons FTSE 100 index of leading shares falling 2.49 percent to 3-990.86 points. ...
Tue 21st April 2009 - 01:59am
Volvo recalls more than 20-000 cars in Europe
STOCKHOLM AFP - Volvo Cars will recall more than 20-000 vehicles across Europe over fears they have faulty cooling fans- a company spokeswoman said on Monday. ...
Tue 21st April 2009 - 01:51am
STOCKHOLM AFP - Volvo Cars will recall more than 20-000 vehicles across Europe over fears they have faulty cooling fans- a company spokeswoman said on Monday. ...
Tue 21st April 2009 - 01:51am
Oil prices slump to one-month low in US
LONDON AFP - Oil prices dived more than four dollars on Monday to hit a one-month low in New York on the back of a strong dollar- weak stock markets and sluggish US energy demand- analysts said. ...
Tue 21st April 2009 - 01:25am
LONDON AFP - Oil prices dived more than four dollars on Monday to hit a one-month low in New York on the back of a strong dollar- weak stock markets and sluggish US energy demand- analysts said. ...
Tue 21st April 2009 - 01:25am
EU launches anti-trust probe of airlines
BRUSSELS AFP - The European Commission launched Monday a probe into pacts between some airlines in two major alliances on suspicion the deals might constitute restrictive business practices on transatlantic routes. ...
Tue 21st April 2009 - 01:22am
BRUSSELS AFP - The European Commission launched Monday a probe into pacts between some airlines in two major alliances on suspicion the deals might constitute restrictive business practices on transatlantic routes. ...
Tue 21st April 2009 - 01:22am
Russia- Airbus sign $4 bln titanium deal
MOSCOW AFP - Russia on Monday inked a four-billion-dollar contract with Airbus to supply the European aircraft manufacturer with titanium for its planes over the next decade. ...
Tue 21st April 2009 - 01:16am
MOSCOW AFP - Russia on Monday inked a four-billion-dollar contract with Airbus to supply the European aircraft manufacturer with titanium for its planes over the next decade. ...
Tue 21st April 2009 - 01:16am
Euro hits fresh one-month low under $1.29
LONDON AFP - The euro fell to a fresh one-month low under 1. ...
Tue 21st April 2009 - 12:47am
LONDON AFP - The euro fell to a fresh one-month low under 1. ...
Tue 21st April 2009 - 12:47am
Rio Tinto urges shareholders to stay open-minded
Rio Tinto is urging shareholders to reserve their judgements for a few months on its proposed deal with Chinese state-owned miner Chinalco. ...
Tue 21st April 2009 - 12:47am
Rio Tinto is urging shareholders to reserve their judgements for a few months on its proposed deal with Chinese state-owned miner Chinalco. ...
Tue 21st April 2009 - 12:47am
German retailer Arcandor needs 900m euros
BERLIN AFP - Troubled German retail group Arcandor said Monday it needs new loans of up to 900 million euros 1.2 billion dollars from banks and the state in order to survive the recession. ...
Tue 21st April 2009 - 12:45am
BERLIN AFP - Troubled German retail group Arcandor said Monday it needs new loans of up to 900 million euros 1.2 billion dollars from banks and the state in order to survive the recession. ...
Tue 21st April 2009 - 12:45am
Opposition demands real recession figures
The Federal Opposition says the Government must immediately release economic figures to explain why a recession in Australia is inevitable. ...
Tue 21st April 2009 - 12:43am
The Federal Opposition says the Government must immediately release economic figures to explain why a recession in Australia is inevitable. ...
Tue 21st April 2009 - 12:43am
Opposition demands real recession figures
The Federal Opposition says the Government must immediately release economic figures to explain why a recession in Australia is inevitable. ...
Tue 21st April 2009 - 12:13am
The Federal Opposition says the Government must immediately release economic figures to explain why a recession in Australia is inevitable. ...
Tue 21st April 2009 - 12:13am
Oil falls over 6 pct on economic outlook- dollar
LONDON- April 20 - Oil fell more than 6 percent to around $47 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 12:10am
LONDON- April 20 - Oil fell more than 6 percent to around $47 a barrel on Monday- depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand. ...
Tue 21st April 2009 - 12:10am
# of days back:
- Today
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
- 53
- 54
- 55
- 56
- 57
- 58
- 59
- 60
- 61
- 62
- 63
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73
- 74
- 75
- 76
- 77
- 78
- 79
- 80
- 81
- 82
- 83
- 84
- 85
- 86
- 87
- 88
- 89
- 90
- 91
- 92
- 93
- 94
- 95
- 96
- 97
- 98
- 99
- 100
- 101
- 102
- 103
- 104
- 105
- 106
- 107
- 108
- 109
- 110
- 111
- 112
- 113
- 114
- 115
- 116
- 117
- 118
- 119
- 120
- 121
- 122
- 123
- 124
- 125
- 126
- 127
- 128
- 129
- 130
- 131
- 132
- 133
- 134
- 135
- 136
- 137
- 138
- 139
- 140
- 141
- 142
- 143
- 144
- 145
- 146
- 147
- 148
- 149
- 150
- 151
- 152
- 153
- 154
- 155
- 156
- 157
- 158
- 159
- 160
- 161
- 162
- 163
- 164
- 165
- 166
- 167
- 168
- 169
- 170
- 171
- 172
- 173
- 174
- 175
- 176
- 177
- 178
- 179
- 180
- 181
- 182
- 183
- 184
- 185
- 186
- 187
- 188
- 189
- 190
- 191
- 192
- 193
- 194
- 195
- 196
- 197
- 198
- 199
- 200
- 201
- 202
- 203
- 204
- 205
- 206
- 207
- 208
- 209
- 210
- 211
- 212
- 213
- 214
- 215
- 216
- 217
- 218
- 219
- 220
- 221
- 222
- 223
- 224
- 225
- 226
- 227
- 228
- 229
- 230
- 231
- 232
- 233
- 234
- 235
- 236
- 237
- 238
- 239
- 240
- 241
- 242
- 243
- 244
- 245
- 246
- 247
- 248
- 249
- 250
- 251
- 252
- 253
- 254
- 255
- 256
- 257
- 258
- 259
- 260
- 261
- 262
- 263
- 264
- 265
- 266
- 267
- 268
- 269
- 270
- 271
- 272
- 273
- 274
- 275
- 276
- 277
- 278
- 279
- 280
- 281
- 282
- 283
- 284
- 285
- 286
- 287
- 288
- 289
- 290
- 291
- 292
- 293
- 294
- 295
- 296
- 297
- 298
- 299
- 300
- 301
- 302
- 303
- 304
- 305
- 306
- 307
- 308
- 309
- 310
- 311
- 312
- 313
- 314
- 315
- 316
- 317
- 318
- 319
- 320
- 321
- 322
- 323
- 324
- 325
- 326
- 327
- 328
- 329
- 330
- 331
- 332
- 333
- 334
- 335
- 336
- 337
- 338
- 339
- 340
- 341
- 342
- 343
- 344
- 345
- 346
- 347
- 348
- 349
- 350
- 351
- 352
- 353
- 354
- 355
- 356
- 357
- 358
- 359
- 360
- 361
- 362
- 363
- 364
- 365
Last 7 days news:
- Todays News (31)
- 30th July 2010 (127)
- 29th July 2010 (126)
- 28th July 2010 (139)
- 27th July 2010 (143)
- 26th July 2010 (116)
- 25th July 2010 (32)