POLITICS & POLICY

Global Markets Overview - 09/30/2011

U.S. blue-chip stocks finished higher Thursday but the technology sector slid, as stronger U.S. economic data struck a contrast with a leading chip maker's forecast cut. The Dow Jones Industrial Average finished 143.08 points, or 1.3%, higher at 11153.98 in a volatile session that saw the blue-chip index turn negative midsession, after surging more than 200 points in the morning. It jumped again in the final 45 minutes of trading.
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Australia Prepares for the Asian Century

Australia wants to position itself to capitalise on the growth of Asian neighbors, particularly China, India and Japan, by reviewing businesses ties with the region.

Ferguson Bucks Mining Tax on Gold

Australian Resources Minister Martin Ferguson flatly rejected on Wednesday the Greens' proposal to include gold in the proposed mineral resources rent tax (MRRT), SkyNews reports.

Australia is 7th Best Mining Country in the World

Australia is the 7th best country in the world to mine, a global survey released on Thursday said. It was a big jump from Australia's 26th place in 2010 in ResourceStocks magazine's annual World Risk Survey.

BP Urges NSW to Reconsider Biofuels Mandate

Energy giant BP on Wednesday has called on the NSW government to reconsider its decision to extend its policy on mandating both biodiesel and ethanol-blended petrol in NSW.

Japan Ready to Help Greece

Japan's Finance Minister Jun Azumi told media on a news conference on Tuesday that Japanese government is ready to take measures to relieve some of Europe's mounting debts, reports NHK World News.

China, Pakistan Collaborate on Fighting Xinjiang Separatists

China's security officials headed by Public Security Minister Meng Jianzhu have visited Islamabad on Tuesday to pursue Pakistan's cooperation in seizing Chinese Muslim extremists who may be seeking refuge in the Muslim territory, reports said.

Aussie Regulator Approves SABMiller-Foster’s Merger

Another hurdle has been crossed on the looming takeover of Australia’s number one brewery firm, Foster’s Group, as the country’s competition regulator indicated on Wednesday that SABMiller’s $10.7 billion buyout plan poses no competitive constraints.

Greens Insist on Gold Tax Inclusion in MRRT

Amid the rising prices of gold expected to peak at $2,300 an ounce, the Greens are pushing for the inclusion of gold in the proposed mineral resource rent tax (MRRT). The party estimates that gold would add $1.8 billion to government coffers in the next 10 years.

Business Execs Urge RBA to Cut Back its Cash Rate

Current global and domestic economic conditions call for a slide on Australia’s interest rate, according to the latest business sentiment indicator published on Wednesday by the Australian Chamber of Commerce and Industry (ACCI).

Australian Dollar Outlook - 09/28/2011

The AUD is trading just above USD 0.9900 today, a little higher than yesterday, as currency markets have managed to stabilise over the last couple of days.

Lawmakers Say Undeletable Cookies "Unacceptable"

The Federal Trade Commission has been asked to investigate reports that MSN.com and Hulu.com install undeletable cookies onto users' computers. Representatives Joe Barton and Ed Markey both asked FTC Chairman Jon Leibowitz regarding FTC's action plans on the so-called 'supercookies.'

Australian Stock Market Report - CLOSING - 09/27/2011

AFTERNOON REPORT (4.30pm AEST)The Australian share market snapped a three day losing streak today, rallying by 3.5pct as investor sentiment was boosted by hopes European leaders will announce fresh measures to address the sovereign debt crisis. The All Ordinaries Index (XAO) added 135.9pts to 4063.5, after touching an intra-day high of 4049. The S&P/ASX 200 Index (XJO) firmed by 140.7pts or 3.6pct to 4004.6.

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