BUSINESS

Drug Giant AstraZeneca to Slash 1,600 Jobs

AstraZeneca PLC, the global pharmaceutical giant and the UK's second biggest drug company, informed that it planned to restructure itself by introducing downsizing program and reorganizing its global research and development operations.

India Cuts Interest Rates as it Aims to Boost Growth

Not surprisingly, the Reserve Bank of India has decided to cut interest rates for the second time since the beginning of 2013. The cut in interest rates is aimed at boosting growth and reviving investment in the former "Jewel in the Crown." However, the Reserve Bank of India underlined that other easing monetary measures would be difficult to introduce.
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Aussie Milk Producers Suffer Due to Price War Amid Soaring Global Prices

Australian dairy farmers are crying, not over spilt milk, but over lost income as they continue to be caught in the price war between supermarket giants Woolworths and Coles. Thus, while prices of milk in the international market soar due to the drought that hit neighbor New Zealand, the $1 per litre price tag at groceries continues to hurt their pockets and caused some farms to close.

Australian Stock Market Report – Afternoon 3-20-13

The lack of resolution in relation to the Cypriot bailout remained the main influence on regional markets on Wednesday. The Cypriot parliament has voted against levy on bank deposits by a margin of 36 to 0 with 19 members abstaining. Eurozone officials remain defiant that Cyprus must contribute to its rescue.

Vacation to Bali at Your Own Risk, Australians Told

A study released by the Australasian Society for Infectious Diseases (ASID) on Wednesday has urged Australians, particularly those from West Australia, to take extra precautionary measures when travelling overseas, especially if it is to Bali, Indonesia.

Indonesia Considers Opening a Cattle Farm in Australia

To meet Indonesia's target to become self sufficient in its beef meat requirement by 2014, Jakarta said it is considering running a cattle breeding farm in Australia. The Indonesian government pointed to lower production cost as the reason behind the plan.

Australian Stock Market Report – Midday 3-20-13

The Australian sharemarket is falling for the third straight day, taking the losses for the week to almost 3 per cent. The All Ordinaries Index (XAO) down 0.74 per cent and has slipped below the key 5000.0 point level for the first time this month.

Goldman Reports Spark Rio Confusion

By Greg PeelLast night Goldman Sachs global stock analysts in London downgraded iron ore producers BHP Billiton ((BHP)) to Neutral from Buy and Rio Tinto ((RIO)) to Conviction Sell from Neutral.

It’s Goodbye Lonely Planet for BBC

BBC Worldwide announced on Tuesday the sale of Lonely Planet, its travel guide business, for $75 million. The American company, NC2 Media, is the buyer.

The Overnight Report: Rethink

By Greg PeelThe Dow closed up 3 points, while the S&P lost 0.2% to 1548 and the Nasdaq dropped 0.3%.The Cypriote parliament last night voted to reject the eurozone proposal for a bail-out involving a levy on deposits, large and small.

Australian Stock Market Report – Afternoon 3-19-13

Local shares were up by as much as 0.84 per cent after a few hours of trade, however steadily declined from midday onwards. The All Ordinaries Index (XAO) slipped by 0.46 per cent and has slumped by 2.5 per cent in just two sessions due to concerns relating to the Eurozone's third smallest economy, Cyprus.

Uranium Market Tighter Than Most Think

By Andrew NelsonUranium prices have been fighting an uphill battle ever since the Fukushima disaster shut down all but two of Japan's fifty nuclear reactors.

Cyprus: The Next Blunder

By Prof. Charles WyploszThe Cyprus bailout package contains a tax on bank deposits. This column argues that the tax is a deeply dangerous policy that creates a new situation, more perilous than ever.

Queensland Debates Over Uranium Mining

Despite the 1989 ban on uranium by the then Queensland government, the current state administration is not ruling out the possibility that they may give uranium mining the green light.

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