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The Organization of Economic Development has warned the global financial crisis still has a long way to go. The OECD is expecting global growth of just 1.4 per cent. It also says the Eurozone will stay into recession well until 2013 and it's calling
And that super storm is taking a heavy toll on business. The New York Stock Exchange remains closed, but it is reopening tomorrow, US time. It's the first time weather has shut the Exchange for two consecutive days since way back in 1888. The storm d
Another region of the Spain is asking the government for a bailout. Catalonia says it needs a loan of more than 6 billion dollars. It's the third region to ask for financial help. Spain's regional governments are struggling to fund basic services as
Go to finance, and new figures show Italy's recession is deepening, the country's economy shrank for the fourth quarter in a row, tough austerity measures are continuing to bite, affecting everything from manufacturing to consumer spending, but some
The finance news.And the big four banks are under pressure to pass on the reserve bank's latest interest rate cut in full. The RBA has cut the official cash rate by 25 bases points. Steve M. from the Australian Bank Association will speculate on what
To finance news.And the Treasurer Wayne Swan plans to lead a business delegation to China later this year.In a speech to the Australia-China Business Council late this morning,Mr.Swan was saying that Australia needs to position itself to take advanta
And china's decision to restrict exports of rare earth minerals is to be challenged at the World Trade Organization.The US,EU and Japan were reportedly file the suit the with the global trade watchdog.China is the largest producer of rare earths,whic
The competition watch dog has set the prices that Telstra can charge its competitors the high speed broadband.The Australia competition and consumer commission will regulate price of ADSL to prevent Telstra from overcharging its rivals for the fixed
New Zealand born billionaire is negotiating to buy substantial slash Tasmanian based timber Gunns.The ABC understands that Richard Chandler wants to buy around 40% of the company.The investment potentially clears the way it build the Tamar Valley pul
The big banks are refusing to rule out another interest rate rise.This is despite of course the Reserve Bank's decision to leave official rates on hold.The RBA has decided to keep the cash rate at four and a quarter percent for the second month,becau
Go to finance.And theres been a mixed response to the Greek bailout on the markets. The Dow Jones topped the 13,000 mark for the first time since May,2008. European markets were cautious,closing lightly lower. Analysts say Greece can't afford to wast
Syrian Rebels Eye EU Oil Trade In his backyard north of the city of Idlib, Ahmed Abu Taleb and his friend use handpumps to transfer a barrel of crude oil into a tank. A fire burns in a pit dug below the tank. Then drip by drip, through a simple syste
An important new industry, oil refining, grew after the Civil war. Crude oil, or petroleum a dark, thick ooze from the earth had been known for hundreds of years, but little use had ever been made of it. In the 1850 s Samuel M. Kier, a manufacturer i
OPEC Sees Oil Demand Decline Again Demand for crude oil from OPEC countries is expected to decline again next year, as independent producers, especially the United States, increase their supplies. Times are gradually changing for OPEC, the Organizati
Today's national accounts are expected to show Australia's economic growth slows significantly during the last quarter. Economists are forecasting that Gross Domestic Product grows by 0.4% in the 3 months to the end of August. That's down from 1.1% g
The treasurer Joe Hockey is in London where he is being heading talks with his British counterpart and the head of the Bank of England in the lead-up to next month's G20 meeting in Brisbane. Now Mr. Hockey is also taking the opportunity to meet poten
In finance. Wall Street has hit a new record high before falling back slightly. The Dow Jones exceeded the previous record set back in 2007. Wall Street trader Douglas Blake says there are two forces at play in the US economy. Certainly, it doesn't f
Raising the GST and reducing company tax are part of a pre-election blueprint for economic growth being proposed by business leaders. The Business Council of Australia has put forward an ambitious nine point plan. It says the economy is at a crossroa
And national account's figures out today are expected to show weak economic growth in the last quarter. Economists surveyed by Bloomberg are forecasting gross domestic product to have grown by half of a percent in the three months to the end of June.
And the Communications Minister Malcolm Turnbull wants the NBN to continue rolling out fibre while a strategic review is carried out. Our business editor Peter Ryan says his main priority now will be to recruit a new board. Ah, the head hunters would