News archive from 19 July 2013

US city of Detroit files for bankruptcy

Detroit became the largest city in US history to file for bankruptcy protection after decades of decline and mismanagement rendered the home of the nation's auto industry insolvent. The bankruptcy is expected to make it harder for municipalities in...

SBS, 09:12 in Business
 
Federal poll may delay fight to revive Tarkine mine approval

Federal poll may delay fight to revive Tarkine mine approval

The Federal Government's reassessment of a $20 million open cut iron ore mine in the Tarkine could be delayed by the imminent federal election.The Federal Court has thrown out the former Environment Minister Tony Burke's approval of the mine because...

ABC News, 09:20 in Business
 
Detroit becomes largest US city in history to file for bankruptcy

Detroit becomes largest US city in history to file for bankruptcy

DETROIT has become the largest city in US history to file for bankruptcy. Kevin Orr, a bankruptcy expert, was hired by the state in March to lead Detroit out of a fiscal free-fall and made the filing Thursday in federal bankruptcy court. A number of...

 
Vitaminwater to face class action

Vitaminwater to face class action

A judge has recommended a case challenging the claims on popular Vitaminwater drinks as misleading move forward as a class-action lawsuit. Attorneys representing the health-advocacy group Center for Science in the Public Interest and consumers from...

 

Huawei 'spies for China': reports

Western intelligence agencies believe Chinese telecommunications manufacturer Huawei spies for the Chinese government, a former CIA head and retired US four-star general has claimed. In comments that go beyond what has been officially said about the...

TheAge, 09:30 in Business
 

Huawei 'spies for China': reports

Western intelligence agencies believe Chinese telecommunications manufacturer Huawei spies for the Chinese government, a former CIA head and retired US four-star general has claimed. In comments that go beyond what has been officially said about the...

 
Huawei 'spies for China': reports

Huawei 'spies for China': reports

Michael Hayden in 2005. Photo: AP Western intelligence agencies believe Chinese telecommunications manufacturer Huawei spies for the Chinese government, a former CIA head and retired US four-star general has claimed. In comments that go beyond what...

 
Jobs go as Onesteel closes Bell Bay plant

Jobs go as Onesteel closes Bell Bay plant

There will be more job losses at Bell Bay in Tasmania's north with a recycling business set to lay off 13 employees.The Onesteel recycling business is expected to close its plant by the end of September as part of a strategy to improve earnings....

ABC News, 09:44 in Business
 

Markets Live: Shares to climb early

9:57am: Oil and gas producer Santos has cut its production forecasts due to problems caused by supply, weather and infrastructure. Santos has reduced its 2013 production guidance to 52-55 million barrels of oil equivalent (mmboe), down from 53 to 57...

 
Malcolm Turnbull says Coalition government would order 'forensic audit' of NBN Co as tensions spill over

Malcolm Turnbull says Coalition government would order 'forensic audit' of NBN Co as tensions spill over

Tensions between the head of the NBN Co board and the Opposition's broadband spokesman Malcolm Turnbull have spilled over.Letters leaked to the Australian Financial Review reveal NBN Co chair Siobhan McKenna wrote to Mr Turnbull saying company...

ABC News, 10:02 in Business
 
Motorists inch over the Bolte as the city's peak hour congestion worsens

Motorists inch over the Bolte as the city's peak hour congestion worsens

Congestion on Melbourne's roads is getting worse with a report showing travel times are getting slower and and the duration of peak hour is increasing.Inbound motorists in the morning peak face the worst conditions, especially on Bolte Bridge tollway...

ABC News, 10:02 in Business
 

Markets Live: Shares to climb early

9:57am: Oil and gas producer Santos has cut its production forecasts due to problems caused by supply, weather and infrastructure. Santos has reduced its 2013 production guidance to 52-55 million barrels of oil equivalent (mmboe), down from 53 to 57...

TheAge, 10:04 in Business
 

Markets Live: Shares to climb early

9:57am: Oil and gas producer Santos has cut its production forecasts due to problems caused by supply, weather and infrastructure. Santos has reduced its 2013 production guidance to 52-55 million barrels of oil equivalent (mmboe), down from 53 to 57...

 

Weather hits Santos production forecasts

Oil and gas producer Santos has cut its production forecasts due to problems caused by supply, weather and infrastructure. Santos has reduced its 2013 production guidance to 52-55 million barrels of oil equivalent (mmboe), down from 53 to 57 mmboe...

TheAge, 10:10 in Business
 

Weather hits Santos production forecasts

Oil and gas producer Santos has cut its production forecasts due to problems caused by supply, weather and infrastructure. Santos has reduced its 2013 production guidance to 52-55 million barrels of oil equivalent (mmboe), down from 53 to 57 mmboe...

 
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