Finance News, Friday 24th June 2011
Peru anti-mining protesters killed in clashes
At least five activists opposed to mining in southeastern Peru were killed when riot police fired tear gas and shot pellets to keep demonstrators from storming the city airport- a local doctor told AFP ... ...Fri 24th June 2011 - 11:49pm
Egypt withdraws request for IMF- World Bank loans
Egypt has withdrawn its loan request to the International Monetary Fund and the World Bank- an adviser to Finance Minister Samir Radwan told AFP on Saturday.We have decided not to have recourse to ... ...Fri 24th June 2011 - 11:18pm
Australia-N.Zealand travel off due to Chile ash
All Australias major carriers cancelled flights to New Zealand for the entire weekend as the ash cloud from Chiles Puyehue volcano lingered in the region.Qantas and budget airlines Jetstar and ... ...Fri 24th June 2011 - 08:28pm
Chinas Baidu invests 306 mln in travel website
Chinese search engine Baidu has agreed to invest 306 million in domestic travel website Qunar as it seeks to cash in on the booming tourism market in China.Baidu- which dominates the Chinese search market ... ...Fri 24th June 2011 - 08:16pm
Greek PM eyes new 110-billion-euro bailout
Greek Prime Minister George Papandreou says hes negotiating a new bailout worth about 110 billion euros A149.73 billion- as Europe enters a crucial 10-day period in the euro crisis.Greece is at ... ...Fri 24th June 2011 - 05:46pm
Ex-media mogul Conrad Black sent back to jail
Fallen media baron Conrad Black was ordered back to a US prison for another 13 months on charges of fraud and obstruction of justice while at the helm of his once vast newspaper empire.Blacks lawyers ... ...Fri 24th June 2011 - 03:57pm
US regulators investigating Google over search
US regulators have launched a probe into Googles lucrative search and advertising business in a move that could pose the most serious legal challenge yet to the Internet giant.Google confirmed the ... ...Fri 24th June 2011 - 03:48pm
20 billion sought from JPMorgan in Madoff scandal
A court-appointed trustee seeking to recover funds bilked by Bernard Madoff said Friday he will seek 20 billion from JPMorgan Chase- accusing it of being an active enabler of the massive fraud.Irving ... ...Fri 24th June 2011 - 01:40pm
Italys Draghi appointed next ECB boss
Italian reserve bank chief Mario Draghi- who was appointed on Friday as the next head of the European Central Bank- has earned the nickname Super Mario at home for his steady handling of the ... ...Fri 24th June 2011 - 12:45pm
US regulators investigating Google over search
US regulators have launched a probe into Googles lucrative search and advertising business in a move that could pose the most serious legal challenge yet to the Internet giant.Google confirmed the ... ...Fri 24th June 2011 - 11:57am
Kimberley grants Zimbabwe conditional diamond sale
The Kimberley Process against blood diamonds will allow Zimbabwe to sell some diamonds from its controversial Marange fields- in a decision that left the watchdog sharply divided Friday.Rights ... ...Fri 24th June 2011 - 11:03am
US stimulus efforts curbed by deficit- Geithner
The massive US budget deficit means the United States will be unable to use deficit spending to stimulate the economy for many years to come- Treasury Secretary Timothy Geithner said Friday.Its ... ...Fri 24th June 2011 - 11:02am
Greek PM eyes new 110-billion-euro bailout
Greek Prime Minister George Papandreou said Friday he was negotiating a new bailout worth some 110 billion euros 155 billion- as Europe entered a crucial 10-day period in the euro crisis.Greece is at ... ...Fri 24th June 2011 - 10:29am
EU has 10 days to save the euro
The EU has 10 days to save the euro and prevent any harm to the world economy after putting its faith in Athens to make good on a vow to impose even more unpopular austerity measures on a restive people.An ... ...Fri 24th June 2011 - 10:11am
Italys Draghi appointed next ECB boss
European Union leaders appointed Italys Mario Draghi to be the next president of the European Central Bank- officials said on Friday at a summit focused on the eurozone debt crisis. ...Fri 24th June 2011 - 10:01am
Oil prices mixed as traders ponder IEA impact
Oil prices rebounded slightly in New York on Friday but dropped sharply in London as markets digested the impact of the International Energy Agencys decision to tap emergency reserves.New Yorks ... ...Fri 24th June 2011 - 09:45am
RBA weighs tough choices on interest rates
A speech by a key central bank official suggests that the reserve bank is still having trouble making its mind up on interest rates.It wasnt easy for the bank to navigate its way through the current ... ...Fri 24th June 2011 - 09:04am
Google confirms US probe into search business
Google confirmed Friday that US regulators have begun a probe of the Internet giants lucrative search and advertising business and said it was confident its practices would withstand scrutiny.Yesterday- ... ...Fri 24th June 2011 - 08:56am
Greek PM eyes new 110-billion-euro bailout
Greek Prime Minister George Papandreou said Friday he is negotiating a new bailout worth some 110 billion euros 155 billion- as Europe enters a crucial 10-day period in the euro crisis.Greece is at ... ...Fri 24th June 2011 - 07:24am
Australia shares nudge higher snap 4 week losing streak
MARKETS-AUSTRALIA-STOCKS UPDATE 3-Australia shares nudge higher snap 4 week losing streak ...Fri 24th June 2011 - 07:18am
BHP increases Jansen potash investment
BHP Billiton is to spend almost another half a billion dollars to develop its own potash projects in Canada in an effort to cash in on the worlds hunger for food.BHP- the worlds biggest resource ... ...Fri 24th June 2011 - 07:10am
Google confirms US probe into search business
Google confirmed on Friday that the US Federal Trade Commission FTC has begun a review of the Internet giants lucrative search and advertising business.Yesterday- we received formal notification ... ...Fri 24th June 2011 - 06:55am
End of US stimulus to hold back A- expert
The Australian dollar is unlikely return to record levels after the US central bank ends its second stimulus program on June 30.GFT Forex director of currency research Kathy Lien said the end of the US ... ...Fri 24th June 2011 - 06:54am
Italys Draghi takes ECB helm- France keeps board seat
The EU on Friday appointed Italys Mario Draghi the next European Central Bank president after France won a bid to keep a seat on the board of the key player in the debilitating eurozone debt crisis.EU ... ...Fri 24th June 2011 - 06:52am
Rate rise one factor in retail slump- RBA
The downturn in the retail sector has been due not only to higher official interest rates- says a key central bank official.Reserve Bank of Australia assistant governor economic Philip Lowe said the ... ...Fri 24th June 2011 - 05:46am
Sinosteels decision has a domino effect on mining
The announcement that Chinese mining company Sinosteel Midwest Corporation has shelved its 2 billion Weld Range project in the mid-west of the state is having a domino effect on the WA resources sector.No ... ...Fri 24th June 2011 - 05:33am
Oil prices fall further on IEA reserves shock
World oil prices sank on Friday- extending the previous days dizzying plunge after the International Energy Agency decided to tap emergency crude reserves to make up for lost Libyan supplies.New Yorks ... ...Fri 24th June 2011 - 05:31am
Chinas Wen says prices will be contained
Chinese Premier Wen Jiabao said he was confident the government would bring inflation under control this year- in comments carried by state media Friday- even as consumer costs keep soaring.There ... ...Fri 24th June 2011 - 05:18am
Passenger planes were only minutes from collision
A report into a near collision involving two planes flying over the Northern Territory has found an air traffic controller had no idea the aircraft were on course to crash into each other.The Australian ... ...Fri 24th June 2011 - 05:16am
End of US stimulus to hold back A
The Australian dollar is unlikely return to record levels after the US central bank ends its second stimulus program on June 30.GFT Forex director of currency research Kathy Lien said the end of the the ... ...Fri 24th June 2011 - 05:12am
US economy struggles to regain momentum
The US economy- which limped ahead at a 1.9 percent growth pace in the first quarter- is still struggling to regain momentum two years after emerging from a deep recession- economic data suggested Friday.The ... ...Fri 24th June 2011 - 05:08am
Cash-strapped Swaziland battles to secure loans
Swaziland on Friday found its options narrowing to avoid financial collapse- turning to neighbouring South Africa for a bailout as the African Development Bank refused a 150 million loan request.The African ... ...Fri 24th June 2011 - 04:51am
Spain says to cut 2012 state budget by 3.8
Spain announced Friday it will slash a government spending cap by 3.8 percent in 2012 as it fights to retain the trust of markets rocked by Greeces sovereign debt crisis.Spains high public deficits- ... ...Fri 24th June 2011 - 04:48am
RBA weighs tough choices on interest rates
A speech by a key central bank official suggests that the reserve bank is still having trouble making its mind up on interest rates.It wasnt easy for the Bank to navigate its way through the current ... ...Fri 24th June 2011 - 04:48am
Greek PM eyes new 110-billion-euro bailout
Greek Prime Minister George Papandreou said Friday he is negotiating a new bailout worth some 110 billion euros- as Europe enters a crucial 10 day period to ringfence the euro crisis.The Greek premier ... ...Fri 24th June 2011 - 04:33am
Italys Draghi takes ECB helm- France keeps seat
The EU on Friday appointed Italys Mario Draghi the next European Central Bank president after France won a bid to keep a seat on the board of the key player in the debilitating eurozone debt crisis.EU ... ...Fri 24th June 2011 - 04:33am
Greece bends to enforce EU terms for urgent rescue cash
Debt-hit Greece hunkered down on Friday to enforce austerity after EU leaders brokered new conditions for cash to avert a default which could endanger the eurozone.The Socialist government of George Papandreou ... ...Fri 24th June 2011 - 04:28am
Greek PM eyes new 110-billion-euro bailout
Greek Prime Minister George Papandreou said Friday he is negotiating a new bailout worth some 110 billion euros- as Europe enters a crucial 10 day period to ringfence the euro crisis.The Greek premier ... ...Fri 24th June 2011 - 04:26am
Gunns sells plantations
Timber company Gunns is a step closer to driving down debt after finding a buyer for its softwood plantation estate in south-east Australia.Gunns has announced to the stock exchange it has secured a buyer ... ...Fri 24th June 2011 - 04:22am
Spain says to cut 2012 state budget by 3.8
Spain will slash the government spending limit by 3.8 percent in 2012 as it fights to lower the public deficit- Finance Minister Elena Salgado said Friday.The 2012 budget cap for the central government ... ...Fri 24th June 2011 - 04:21am
Greece bends to enforce EU terms for rescue cash
Debt-hit Greece hunkered down on Friday to enforce austerity after EU leaders brokered new conditions for cash to avert a default which could endanger the eurozone.The Socialist government of George Papandreou ... ...Fri 24th June 2011 - 04:06am
RBA weighs tough choices on interest rates
A speech by a key central bank official suggests that the reserve bank is still having trouble making its mind up on interest rates.It wasnt easy for the Bank to navigate its way through the current ... ...Fri 24th June 2011 - 04:00am
US GDP growth revised up to 1.9
US economic growth in the first quarter was revised up by a tenth of a point to a 1.9 percent annual pace- the government said Friday in its final estimate of output.The Commerce Departments slight ... ...Fri 24th June 2011 - 03:57am
Oakajee setback wont affect Portlink- Grylls
The State Minister for Regional Development- Brendon Grylls says the funding set back to the Oakajee Port and Rail Project will not affect todays negotiations with the Federal government over the ... ...Fri 24th June 2011 - 03:54am
Italys Draghi takes ECB helm- France keeps seat
The EU on Friday appointed Italys Mario Draghi the next European Central Bank president after France won a bid to keep a seat on the board of the key player in the debilitating eurozone debt crisis.EU ... ...Fri 24th June 2011 - 03:36am
Cash-strapped Swaziland battles to secure loans
Swaziland on Friday found its options narrowing to avoid financial collapse- turning to neighbouring South Africa for a bail-out as the African Development Bank refused a 150 million loan request.The ... ...Fri 24th June 2011 - 03:32am
Regional business group pushes for defence force expansion
A central Queensland business group says it is already working with Rockhampton Regional Council to investigate expansion opportunities from Australian Defence Force ADF roles.A panel appointed by the ... ...Fri 24th June 2011 - 03:30am
Republicans walk out on debt talks
Republicans pulled out of debt-reduction talks led by Vice President Joe Biden with a flourish on Thursday- blaming Democrats for demanding tax increases as part of a deal rather than accepting more than ... ...Fri 24th June 2011 - 03:14am
US GDP growth revised up to 1.9
US economic growth in the first quarter was revised up by a tenth of a point to a 1.9 percent annual pace- the government said in its final estimate of output.The Commerce Departments slight upward ... ...Fri 24th June 2011 - 03:05am
More redundancies unlikely at Australia Zoo
Owner Terri Irwin says there are no plans for further staff redundancies at Australia Zoo on Queenslands Sunshine Coast.The zoo has sold its whale watching boat and will shut its retail outlet in ... ...Fri 24th June 2011 - 02:48am
US GDP growth revised up to 1.9
US economic growth in the first quarter was revised up by a tenth of a point to a 1.9 percent annual pace- the government said in its final estimate of output.The slight upward revision in gross domestic ... ...Fri 24th June 2011 - 02:47am
US GDP growth revised up to 1.9
US economic growth in the first quarter was revised up by a tenth of a point to a 1.9 percent annual pace- the government said in its final estimate of output. ...Fri 24th June 2011 - 02:38am
David and Goliath forestry stoush
Forestry Tasmania has been accused of competing against Tasmanian sawmillers.Sawmiller Roderick Cairns has appeared before the parliamentary committee set up to investigate Tasmanias softwood industry.He ... ...Fri 24th June 2011 - 02:34am
Shock plunge in Italian bank shares after rumour
Italian bank shares plummeted suddenly on the Milan stock exchange on Friday- with the countrys biggest bank UniCredit down more than eight percent before recovering to show a loss of three percent.Banca ... ...Fri 24th June 2011 - 02:16am
Barnett blames federal taxes for Oakajee doubt
The Western Australian Premier Colin Barnett says the federal governments proposed carbon tax and minerals resource rent tax is partly to blame for the doubt now surrounding the Oakajee infrastructure ... ...Fri 24th June 2011 - 02:09am
Indian investors keen for Gladstone coal
Potential Indian investors have shown keen interest in coal resources- says an industry representative in Gladstone in central Queensland.Gladstone Economic and Industry Development Board representative ... ...Fri 24th June 2011 - 02:00am
BlackBerry maker upbeat on Asian growth markets
BlackBerry maker Research in Motion RIM is banking on Indonesia and other populous markets for growth in Asia- while it faces intensifying competition worldwide from rivals like the iPhone.The Canadian ... ...Fri 24th June 2011 - 01:51am
Retailers praised for cheap grog crackdown
Federal Indigenous Health Minister Warren Snowdon says big retailers have done a positive thing for Alice Springs by removing low-priced wine from their shelves.Yesterday- Coles announced it would introduce ... ...Fri 24th June 2011 - 01:45am
Forest peace deal recalled after error
A peace deal to end decades of fighting over logging native forests in Tasmania has been recalled by the man appointed to oversee a solution.Peace facilitator Bill Kelty yesterday sent Federal and Tasmanian ... ...Fri 24th June 2011 - 01:38am
Oil prices steady after plunging on IEA reserves draw
World oil prices steadied on Friday after plunging one day earlier when the International Energy Agency decided to tap emergency crude reserves to make up for lost Libyan supplies.New Yorks main contract- ... ...Fri 24th June 2011 - 01:32am
EU eases Greek access to development funds
The European Union said it would help Greece access billions of euros in EU development funds in an attempt to boost the countrys struggling economy and sweeten unpopular austerity measures ahead ... ...Fri 24th June 2011 - 01:31am
Australia shares erase early gains on Greece
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares erase early gains on Greece ...Fri 24th June 2011 - 01:28am
Home Retail Group buys Habitat UK
Britains Home Retail Group on Friday said it had bought the Habitat UK brand and three of its London furniture stores for £24.5 million from US private equity firm Hilco.HRG- which owns catalogue ... ...Fri 24th June 2011 - 01:27am
Italys Draghi appointed next ECB president
EU leaders on Friday appointed Italys Mario Draghi the next president of the European Central Bank- with his first task being to lead the euro safely out of a debilitating eurozone debt crisis.Mario ... ...Fri 24th June 2011 - 01:12am
European stocks- euro rebound on Greece progress
European stocks rebounded and the euro recovered against the dollar on Friday as investors cheered a breakthrough in the eurozones bid to resolve Greeces debt crisis- analysts said.World markets ... ...Fri 24th June 2011 - 12:52am
Air NZ voted 7th best in world
Air New Zealand has been ranked in seventh place in the Skytrax World Airline Awards- two places down on last years fifth placing.It remained ahead of Australian airline Qantas- which slipped to eighth ... ...Fri 24th June 2011 - 12:43am
Western nations release more oil
Western nations have agreed to release oil from emergency stockpiles for the third time in history- sending oil prices tumbling and providing some support to a faltering global economy.The surprise move ... ...Fri 24th June 2011 - 12:43am
Italys Draghi appointed next ECB president
European Union leaders appointed Italys Mario Draghi to be the next president of the European Central Bank- officials said on Friday at a summit focused on the eurozone debt crisis.The European ... ...Fri 24th June 2011 - 12:41am
Australia shares open up 0.2 percent
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares open up 0.2 percent ...Fri 24th June 2011 - 12:27am
Oil price drops as supplies are boosted
The price of crude oil fell overnight after the International Energy Agency announced it is lifting global oil supplies in an effort to control prices.The agency is adding 60 million barrels to global ... ...Fri 24th June 2011 - 12:27am
Italys Draghi appointed next ECB president- official
European Union leaders appointed Italys Mario Draghi to be the next president of the European Central Bank- officials said on Friday at a summit focused on the eurozone debt crisis. ...Fri 24th June 2011 - 12:01am
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