POLITICS & POLICY

Global Markets Overview - 15/10/2012

The Dow Jones Industrial Average squeezed out a modest advance to wrap up a tough week for the stock market, as worries about bank profits balanced off against a jump in consumer sentiment. The blue-chip Dow finished with a gain of 2.46 points, or 0.02%, to 13328.85 Friday, after rising by as many as 75 points in early trading.

Australian Dollar Outlook - 15/10/2012

Bell FX Currency Outlook: The Australian Dollar has opened steady as concerns about growth prospects continue to plague Europe and the global economy.

Australia’s Recipients of First 100 Women of Influence Awards Named

What do Business Council of Australia chief executive Jennifer Westacott, Origin Energy chief operating officer Karen Moses, Kraft Foods chief Rebecca Dee-Bradbury, philanthropists Layne Beachley, Carol Schwartz and Debbie Dadon, and Reconciliation Australia chief executive Leah Armstrong have in common? These strong-willed and leadership-capable women have been included in the first ever conducted 100 Women of Influence awards by the Australian Financial Review newspaper and Westpac Bank.
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Global Markets Overview - 11/10/2012

U.S. stocks slumped, sending the Dow industrials toward a second straight triple-digit drop as outlooks from industrial, commodity and energy heavyweights added to concerns about a global economic slowdown. The Dow Jones Industrial Average gave up 131 points, or 1%, to 13343 in late afternoon trading, a day after posting its biggest daily decline in nearly six weeks.

The Counterfeit Guardians of the RBA

The Sunday Times of London reports that the 54-year-old governor of Australia's Reserve Bank is an outside shot to replace Sir Mervyn King as the next governor of the Bank of England. Stevens would become the most powerful colonist in the British civil service.

Lynas License to Operate Malaysian Plant Put on Hold… Again

For the nth time, Lynas Corp.'s plans to operate what could rival China's rare earths industry has been hindered as a Malaysian High Court on Wednesday failed to come up with a final decision on the Australian miner's controversial temporary operating license (TOL), effectively delaying again the miner's start of operations of its rare earths processing plant.

Global Markets Overview -10/10/2012

Stocks fell after a weaker-than-forecast economic-growth forecast from the International Monetary Fund stirred worries about corporate earnings ahead of Alcoa's quarterly report, due after Tuesday's closing bell. The Dow Jones Industrial Average declined 82 points, or 0.6%, to 13501, a drop that coincided with the five-year anniversary of the market's all-time high.

Australian Dollar Outlook - 10/10/2012

Bell FX Currency Outlook: The Australian Dollar remains under selling pressure this morning, following downgrades to global growth forecasts, as well as concerns ahead of forthcoming quarterly earnings season in the US.

NSW Sells Gov’t Buildings Worth Over $300 Million

New South Wales (NSW) Premier Barry O'Farrell announced on Tuesday that the state government will sell buildings worth over $300 million. The state will use the proceeds of the sale to begin housing infrastructure in growth areas in Sydney.

China’s Stockpiles of Iron Ore Up – Report

Despite last month's government pronouncement that it would embark on a massive infrastructure plan to spur up economic stability and growth, Chinese consumers of iron ore still have to actually bite into the good news as stockpiles of the key steelmaking ingredient jumped week on week in at least 25 major Chinese ports.

BHP Slashes Jobs at Iron Ore Unit

And the inevitable has happened. Global mining giant BHP Billiton Ltd. will leave no stone unturned to maintain business stability and viability, as it announced job cuts will be made even at the expense of its top revenue business driver, the iron ore division.

U.S. Congress Report Labels Huawei, ZTE as National Security Risks

A U.S. congressional report has reportedly determined that two major Chinese companies, Huawei Technologies and ZTE Corp, pose grave economic and security risks to the United States and should, therefore, be prevented from further making inroads in the country, reports said.

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