News archive from 29 March 2013

Taxes 'driving up mortgages by 40pc'

Taxes 'driving up mortgages by 40pc'

Taxes, levies and charges make up nearly 40 per cent of the cost of new homes in Adelaide, the Housing Industry Association says.The finding was contained in a report commissioned by the association on housing affordability in Australia's capital...

ABC News, 12:10 in Business
 
Fitch reaffirms Australia's AAA credit rating

Fitch reaffirms Australia's AAA credit rating

US agency Fitch has reaffirmed Australia's coveted AAA credit rating, but warned about the impact of a slowdown in the mining sector.The credit rating reflects Australia's ability to repay foreign debt and is used to compare different countries. Fitch...

ABC News, 12:30 in Business
 
Census data maps best and worst council areas

Census data maps best and worst council areas

New census data has ranked how well-off each local council area is, showing Western Australia and New South Wales are the states with the top spots.The Socio-Economic Index generated by the 2011 census measures people's income, type of employment,...

ABC News, 12:30 in Business
 

S. Korea industrial output shrinks in Feb

SOUTH Korea's industrial output shrank for the second straight month in February, fuelling concerns of a slower-than-expected recovery for Asia's fourth-largest economy. Production in the mining, manufacturing, gas and electricity industries dropped...

 

Confusion reigns over Easter long weekend penalty rates, according to employment law expert Scott McSwan

THERE will be no double time for the Easter Bunny, or anyone else hard at work this Sunday. An employment law expert said there was widespread confusion about Easter long weekend penalty rates. But Scott McSwan said he could solve the confusion - the...

 

Oracle sees past the Cyprus bust to predict a growing fortune

Our soothsayer has recovered from her last-minute stumble from the lead in the last round of our share race, but has a professional trader hot on her high heels. The seven other racers challenging astrologer Doreen Daze are a digital dartboard,...

 

Oracle sees past the Cyprus bust to predict a growing fortune

Our soothsayer has recovered from her last-minute stumble from the lead in the last round of our share race, but has a professional trader hot on her high heels. The seven other racers challenging astrologer Doreen Daze are a digital dartboard,...

 

Oracle sees past the Cyprus bust to predict a growing fortune

Our soothsayer has recovered from her last-minute stumble from the lead in the last round of our share race, but has a professional trader hot on her high heels. The seven other racers challenging astrologer Doreen Daze are a digital dartboard,...

 

Tokyo stocks, euro up in holiday-hit trade

JAPANESE shares ended higher at the end of quiet regional trade on Friday but the euro edged lower on lingering concerns over Cyprus despite the island's bank's reopening to relative calm. Lenders in the Mediterranean nation began trading Thursday for...

 
Cyprus banks open calmly amid cash curbs

Cyprus banks open calmly amid cash curbs

CYPRIOTS have stayed calm as banks reopened after a nearly two-week lockdown, with the first capital controls of their kind in the eurozone saving the island from a catastrophic bank run. President Nicos Anastasiades tweeted his thanks to the citizens...

 
Cyprus will not leave euro, president vows

Cyprus will not leave euro, president vows

President Nicos Anastasiades vowed Friday Cyprus would stay in the eurozone despite the harsh terms of a EU-led bailout, as the island's banks resumed normal trading for the first time in two weeks. Cypriots queued for a second day outside banks -...

SBS, 23:01 in Business
 

US consumer spending, income jump in Feb

US consumers earned more and spent more in February, helped by a stronger job market that has offset some of the drag from higher taxes. The Commerce Department says consumer spending rose 0.7 per cent in February compared with January. It was the...

 
Aussies are $160bn ahead on mortgages

Aussies are $160bn ahead on mortgages

AUSTRALIAN families are now $160 billion ahead on their mortgages, squirreling away an extra $30 billion since the start of the GFC. About half of the nation's three million home-loan customers have taken advantage of low interest rates to pay down...

 

Rinehart spurs $7b mine spree

China's MMG moves forward. Photo: Jessica Shapiro Almost $US7 billion of investment in Australia's mining industry was unveiled on the eve of Easter, including a significant step forward for Gina Rinehart's Roy Hill project. Despite perceptions that...

 

Chinese starting to say cheese

Australian cheese is becoming a more common sight in China. Photo: Peter Parks The sight and smell of a block of parmesan cheese seemed pleasing enough to Han Jin at first, but a nibble made him gag. The Chinese businessman's first experience is...

 
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