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Tuesday, December 17, 2013
Ratings agency Standard & Poor's on Monday said its downgrade of airline Qantas and a decision by Holden to stop making cars locally were not signs that the Australian economy was in trouble.
Monday, December 16, 2013
Holden marks another Australian icon's demise
When the axe fell on Australian carmaker Holden, it was another blow to a nation which has lost a string of iconic brands, from Vegemite to Foster's.
Friday, December 13, 2013
Australia PM seeks Toyota talks to save local car industry
Prime Minister Tony Abbott on Thursday sought talks with Toyota to persuade the Japanese giant to keep its plants open and prevent a collapse of Australia's car manufacturing industry.
Thursday, December 12, 2013
Australia eased foreign ownership restrictions on Chinese state-owned coal firm Yanzhou Wednesday to help shore up the miner amid tough conditions in the sector.
Auto giant General Motors said Wednesday it will close its Holden plants in Australia by 2017, prompting Toyota to review its operations as unions warned the car industry was finished.
Tuesday, December 10, 2013
Exports in November decreased by 4.7 percent month-on-month but stayed level year-on-year, according to a report released by the Ministry of Finance (MOF) yesterday.
Bankers in Australia have much to cheer this Christmas as fees from underwriting IPOs surge 10-fold this year, and many are now betting on an equally active year in 2014 as a slew of private equity exits keep the market busy.
Thursday, December 5, 2013
Australian economy expands 0.6 percent in third quarter
Mining-powered Australia expanded a modest 0.6 percent in the three months to September and 2.3 percent on-year, showing a transitioning economy “stuck in second gear,” the government said Wednesday.
Wednesday, December 4, 2013
Australia's central bank held interest rates at their record 2.50-percent low Tuesday, saying the effects of earlier cuts had still to be fully felt.
Saturday, November 30, 2013
The Australian government rejected Friday the AU$3 billion (US$2.7 billion) sale of GrainCorp to American agribusiness giant Archer Daniels Midland (ADM), saying it went against the national interest.
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