POLITICS & POLICY

RBA Chief Admits Prevailing Global and Domestic Turbulence

The gloomy state of global economy appears to be easing down on Australia’s inflation figures, according to Reserve Bank of Australia (RBA) governor Glenn Steven, but he warned that upheavals are still ahead and they can significantly upset the domestic economy.
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Qantas: We Are Doing Fine Despite Stock Slide

Despite its falling stock price, national carrier Qantas Airways posted Wednesday a full-year net income of $250 million, and executives said it is a natural target for acquisition.

Big Quake Hits U.S. East Coast

The earth shook in the American East Coast on mid-Tuesday and prompted hundreds of office worker to rush out from swaying buildings, in what authorities described as the biggest earthquake to hit the region in the last 70 years.

Mining Boom: Australia Moves to Quash Economic Woes

Australian's Treasurer Wayne Swan has finally been convinced that the country's economic prospects and the sectors involved and contributing to its strength needs a major review from policy makers and industry players.

Carbon Legislation Punishes Coal Industry

The carbon legislation contained a 'poison pill' which would forever exclude coal mining from being treated the same as every other trade exposed industry, the coal sector claims.

Qantas Wins ACCC Nod on American Airlines Partnership

Facing the spectre of labour unrests and leadership shakeup from roll-over crises last week, national carrier Qantas Airways won a much-needed reprieve on Monday as Australia’s competition watchdog provisionally approved the company’s proposed alliance with American Airlines.

Obama Assures Farmers: Not to Worry on US Agriculture's 'Over Regulation'

During a town hall meeting yesterday, when an Illinois farmer told President Obama he was concerned about upcoming regulations regarding the Food Safety Modernization Act and would rather be farming than "filling out forms and permits," Obama had choice words to offer in reply: "Don't always believe what you hear."

World Population Hitting 7 Billion by end-2011

The global population is expected to reach seven billion this year, according to a study made by the National Institute of Demographic Studies (INED) in France, which was published on Thursday.

Australia's Banks Cut Down Term Deposit Rates

Australia's small and big banks have cut down the term deposit rates of their bank products, which could discourage consumers from hoarding cash and explore other investment options.

Australia Stock Market Close 08/16/2011

MARKET CLOSE (4.30pm AEST)The Australian sharemarket pulled back in the second half of trade to wipe out a portion of yesterday's stellar gains. The ASX 200 index (XJO) fell 0.8 pct or 35.6 pts to 4247.3 while the broader All Ordinaries index (XAO) dropped 0.7 pct or 29.5 pts to 4317.3.

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