Tag: International Financial Crisis
Housing approvals slump fuels rate cut speculation
Expectations are firming for another big interest rate cut next month after a sharper-than-expected economic deterioration.[MORE]
Obama vows 'substantial' Wall Street overhaul
Barack Obama warned Wall Street has not worked and promised a substantial overhaul of US financial markets.[MORE]
Qld gas industry remains safe from financial crisis
Gas provider Santos says the sector has been insulated from job losses.[MORE]
Sunshine Coast businesses expect tough year
Sunshine Coast businesses believe predictions of a tough year ahead will be proven correct.[MORE]
WA Unions to push for pay rises despite calls for wage restraint
The WA Branch of the Construction Union says demands for pay rises for a number of Alcoa workers will not threaten jobs.[MORE]
Hunter coal mines cushioned from financial crisis: company
Financial consultancy group Deloitte expects coal mines in the Hunter to be cushioned this year from the worst effects of the global financial crisis.[MORE]
Wall Street plunges after heavy job falls
Stocks on Wall Street plunged overnight after a report showing a bigger-than-anticipated fall in private sector jobs fuelled fears of deeper economic turmoil.[MORE]
US Budget deficit to exceed $1.6 trillion: Congress
The US Budget deficit will swell to an unprecedented $1.6 trillion this year as the economic recession continues.[MORE]
Mining union warns of more industrial fights ahead
A mining union warns of more industrial disputes because of the global economic crisis.[MORE]
Mine shifts go to make way for redundant workers
The mining company planning to close a central Queensland coal mine says it is being forced to stand down shifts at another site because it needs to transfer workers.[MORE]
Alcoa job cuts 'won't affect Aust work force'
Aluminium producer Alcoa says its Australian operations will not be affected by the company's global plans to cut more than 13,000 jobs.[MORE]
Premier says Vic Alcoa jobs are safe
Alcoa workers at Geelong and Portland are being assured their jobs are secure.[MORE]
Santos/Apache gas project resurrected
An $800 million gas project in Western Australia will now go ahead, one month after it was mothballed.[MORE]
Alcoa to cut 13,500 jobs worldwide
US-based aluminium giant Alcoa says it will slash some 13,500 jobs, or 13 per cent or its global workforce, and reduce output to cope with the global economic downturn.[MORE]
Sanyo to cut 1,000 jobs
Japanese electronics giant Sanyo has announced plans to slash 1,000 jobs.[MORE]
75pc 'easily' making mortgage repayments: survey
A survey has found Australian households are coping well with the effects of the global economic downturn.[MORE]
Sacked Qld miners sweat on arbitration hearing outcome
An arbitration hearing on mining job cuts in central Qld continues in Brisbane today.[MORE]
N Korean ministers sacked in cabinet purge
North Korea's communist leadership has sacked at least nine cabinet ministers in a purge designed to revive its crumbling economy.[MORE]
German billionaire commits suicide after $750m loss
German billionaire Adolf Merckle has committed suicide after his business empire ran into trouble in the global economic slowdown. [MORE]
Eurozone inflation hits low as service sector slumps
Inflation in the euro countries slumped in December to 1.6 per cent, the lowest in over two years, from 2.1 per cent in November, according to an estimate from the EU's Eurostat data agency.[MORE]
Toyota to halt output as sales slump
Toyota is to halt production at all its Japanese plants for 11 days in a bid to reduce stocks of unsold cars as demand has slumped.[MORE]
Mining heavyweights restart talks over Qld job losses
Mining company Xstrata and the mining union are back in the Industrial Relations Commission (IRC) in Brisbane over the axing of jobs at a central Queensland mine.[MORE]
Obama demands bold stimulus package action
US President-elect Barack Obama is demanding bold action from Congress on his expensive stimulus plan, warning there will be more damage to the US economy if it fails to act swiftly.[MORE]
Domestic car sales topped 1m in 2008
Car sales fell more than 11 per cent in December but Australians still purchased more than 1 million new vehicles in 2008.[MORE]
Mazda board to take 20pc pay cut
Figures released by Japan's Automobile Dealers Association show car sales slumped by more than 6 per cent last year, falling to their lowest level since the aftermath of the first oil shock in the early 1970s. [MORE]
