Australian Banks Cut Loan Exposure to Europe

The worsening eurozone debt crisis has prompted Australian banks to be more aggressive in cutting their exposure to the embattled continent.

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A resident holds up a placard in protest against the under-construction Lynas Malaysia rare earth processing facility, during a meeting between the community and members of the Vienna-based International Atomic (IAEA), in Gebeng, 270 km (168 miles) east o

From Politics & Policy

UPDATE: 2,000-page Objection Against Lynas Malaysia Plant… Will It Ever Get Through?

A day after revealing on Tuesday that it encountered a $40-million blowout in related construction costs at its controversial LAMP advanced materials refinery plant, Australian miner Lynas Corp.

Australian Prime Minister Julia Gillard waves to supporters at the Labor Party election headquarters in Melbourne

From Politics & Policy

PM Gillard’s ‘Cinderella’ Moment on Australia Day: Why it Deserves All the Hype

In a dramatic turn of events during Australia Day, the prime minister has been reported around the world to have had a ‘Cinderella’ moment when she tumbled and lost a shoe while being dragged by security away from an angry mob of protesters.

Westpac Chief Executive Officer Gail Kelly

From Politics & Policy

Westpac May Follow ANZ in Determining Interest Rate Independent of RBA Policy

Westpac could follow the lead made by ANZ Bank of independence from the Reserve Bank of Australia's (RBA) overnight cash rate cuts insofar as setting of interest rates is concerned.

IMF head Christine Lagarde gestures during a news conference at the G20 meeting at the ministry in Paris

From Politics & Policy

IMF Cuts Growth Forecast for Australia to 3%

Two days after it downgraded global economic growth forecast, the International Monetary Fund (IMF) also cut its outlook for Australia to 3 per cent from previous forecast of 3.3 per cent.

From Politics & Policy

Former Treasurer Costello Hits 4 Years of Bad Budgets Under Labor Government

Former Australian Treasurer Peter Costello warned on Tuesday that because of four years of bad budget under a Labor government Australia is at the risk of taking the same road as Europe which has led to a sovereign debt crisis.

From Politics & Policy

Australia Joins EU Trade Ban on Iran

Australia announced on Tuesday that it will support the new economic sanctions passed by the European Union against Iran, calling member nations and other countries to stop trading with Iran.

From Companies

FWA Endorsement Guarantees Qantas 3 Years of Industrial Peace With Aircraft Engineers

Fair Work Australia (FWA) endorsed on Tuesday the proposed workplace determination between Qantas and the Australian Licenced Aircraft Engineers Association (ALAEA). The two parties presented the proposal to FWA in late December,.

Affordability scheme properties now available in Western Australia

From Economy

WA is Australia’s Strongest State

An analysis by CommSec of Australia's states and territories' performance for the fourth quarter of 2011 showed that Western Australia is the strongest state in terms of economic performance.

From Economy

Australian Meat Industry Forecasts 2.197 Million Tonnes Beef, Veal Production for 2012

Despite the problems with Indonesian beef importation, the meat industry of Australia is expected to enjoy a good year. For 2012, Meat and Livestock Australia (MLA) forecasts that beef and veal production would reach 2.197 million tonnes (carcass weight).

The Toyota Prius C hybrid is displayed on the final press preview day for the North American International Auto Show in Detroit.

From Companies

Toyota Australia Cuts 350 Jobs Over High Dollar

Toyota Australia has been compelled to let go of its 350 workers at its Altuna manufacturing plant in Melbourne over rising dollar, according to the company president.