The Australian federal government will no longer be pursuing a contract that seeks to pay out the country's dirtiest coal-fired power generators fter negotiations with their respective owners bogged down.
Tyranny is upon us. But tyranny isn't put in place by some all-powerful evil force that suddenly assaults our freedoms; it's ratcheted up one day at a time by the People themselves -- the government workers who are willing to do anything as long as they're told "it's the rules."
Ben Bernanke just said he was ready to do something if something needed doing. His position hasn't changed.
U.S. stocks closed mixed Tuesday after a key report showed the third straight monthly contraction in the manufacturing sector, a key engine behind the economy's still-sluggish recovery. The Dow Jones Industrial Average was down 54.90 points (0.42 percent), finishing at 13,035.94.
While the Reserve Bank of Australia (RBA) had retained on Tuesday the current 3.5 per cent overnight cash rate for the third consecutive month, the central bank at the same time signaled it is ready to cut rates in October.
Bell FX Currency Outlook: The Australian Dollar has fallen to fresh six week lows overnight as global uncertainty and concerns over weakness in the Chinese economy erased gains seen yesterday.
The government of Australian Prime Minister Julia Gillard, in a firm commitment to eradicate the deadly, toxic fibre asbestos from houses and all government and commercial buildings around the country by 2030, is set to establish a national asbestos agency where the beneficiaries of its first clean-up drive are schools.
Carbon tax’s floor price has been axed and educational reforms were on their way, courtesy of Prime Minister Julia Gillard, who on Tuesday saw her personal Newspoll numbers soaring to a high of 39 per cent.
“Keep calm and carry on,” is one of the most popular memes permeating social networks. Its varieties are typically witty if not notoriously hilarious. “Keep Calm” memes are so ubiquitous in social networks, that it is hard to imagine any situation that does not have a matching “keep calm” meme.
The Association of Mining and Exploration Companies (AMEC) has urged on Australian Prime Minister Julia Gillard and her government to grant more incentives specially to small to mid-tier miners to boost continued mining exploration activities in the resource-rich nation in the midst of falling commodity prices and slowing growth in China, its major trading partner.
The Reserve Bank of Australia (RBA) retained the current overnight cash rate of 3.5 per cent on Tuesday. The central bank's decision did not surprise the banking community which had anticipated the unchanged rate.
Australia’s crime fighting agencies would be greatly aided by the proposed data retention laws, Attorney-General Nicola Roxon said on Tuesday, adding that the government needs to be steps ahead of ordinary and tech-savvy criminals.
Prices of iron ore may have plummeted faster than a speeding bullet in the last couple of weeks, but industry experts and analysts project its recovery will surge also as fast by the fourth quarter of this year.
The strong Australian economy will underpin the educational reforms that Prime Minister Julia Gillard has unveiled on Monday, requiring a total funding of about $6.5 billion that will be spread over the next decade.
Close to 100 people at the Argyle Diamonds subsidiary of the Rio Tinto Group are poised to lose their jobs as the company implements a cost-cutting plan amid plans to divest the diamond business unit.
There are big questions over the budget priorities of the new Queensland government which has said it could not afford the $6 billion to upgrade the state's IT systems, axed 400 information technology contractors, yet provided $200,000 to the production company behind the TV programme Big Brother.
With prices of key steel-making ingredient iron continue to dip in the world market, with no potential rainbow at the end of the tunnel seen yet in the next few months, global miners are reduced to implement drastic strategies to keep the business afloat.
Bell FX Currency Outlook: The AUD has opened unchanged following a quiet night in currency markets with the US closed for Labor Day celebrations.
Analysts agree that the Reserve Bank of Australia (RBA) will most likely retain the current overnight cash rate of 3.5 per cent on Tuesday when its monetary policy board meets.
AFTERNOON REPORT
(4.45pm AEST)It was a volatile day on the local share market. Stocks started the trading day in the red, then received a boost mid-session, after weak Chinese manufacturing data boosted hopes of forthcoming stimulus. By close, stocks were marginally higher; with the All Ordinaries Index (XAO) adding 12.6pts or 0.3pct to 4351.6.
Gina Rinehart drew much flak after publishing an advice of some sort to Aussies getting minimum wage, saying those who are "jealous of those with more money" should "spend less time drinking, or smoking and socializing and more time working." See some of the "Scumbag Gina Rinehart" memes circulating on the Web.
A funding dispute over a proposed 2.6 billion euro ($3.3 billion) liquefied natural gas (LNG) plant between Iran and a Chinese consortium has been postponed.
At least 18 iron ore mines have been granted permission by the High Court of India on Monday to resume mining activities in Karnataka after a more than a year of suspension on environment concerns, pointing to what could mean 5 million tonnes a year of renewed production.
George Bush and Tony Blair, two of the most recognizable world leaders in the past decade, need to face up with the consequences of their previous actions over Iraq, according to South Africa’s Desmond Tutu.
Australia's retail sector showed unexpected poor sales in July and broadly trickling down to the fragile profits of businesses still gaping for low demand for exports in Europe.
Philippine gold and copper miner Philex Mining Corp. may be forced to indefinitely suspend operations at its Padcal mine in Benguet province as the mining firm mulls to replace the facility following a second wave of leak spill last week.
Will Australia benefit from a greying workforce? The Federal Age Discrimination Commission thinks so, stressing that allowing workers aged 55 and up to continue working could prove as “the secret to our future prosperity.”
The ongoing hunt for the rogue Afghan soldier tagged as the ‘insider’ gunman who killed three Aussie Diggers last week yielded arrests of suspects and the deaths of two suspected insurgents.
The Australian share market opened weaker this morning even with the strong run on off shore market and commodities on Friday night. The US markets closed higher on Friday after Federal Reserve, Chairman Ben Bernanke, said that he hasn't ruled out further action to boost the US economy.
Sparks are a-flying in a heated debate after Australia approved over the weekend the sale of giant cotton farm Cubbie Station to a Chinese consortium.
