ABC Learning Still Studying
Meanwhile in Brisbane ABC Learning Centres remains in a trading halt as accountants and auditors try to clear up the confused state of the company's accounts over the past few years.
Companies in the News
Australian Economy
Economy Still Slow
It wasn't very startling news to say that yesterday's economic news was more of the same: the economy is slowing, and will continue slowing and that will keep the Reserve Bank pushing the interest rate lever lower.
Australia Market Report of September 9: Chinese Demand to Prevent Australia From Recession
Yesterday Australian shares soared the most in almost half a year after the US Government's bailout of mortgage giants to calm investor worries about global market turbulence.
Midday Market Roundup 09/09/2008
The market is down 86. That compares to our Futures suggesting a fall of 23 this morning. Seems like we did our dash with the 190 point rise on the ASX 200 yesterday with financials up 6.2% and Macquarie up 15%. Financials taking a breather today down 1.6%, Macquarie down 5.5% and Resources falling on yet another rise in the US$ (fall in the A$) with BHP and RIO both down in the US overnight. Metal prices up slightly. BHP down the equivalent of 107c in the US and has fallen 131c in our market this morning.
Jobs Market Is Slowing
If there's not an upturn in unemployment and the jobless rate doesn't kick higher in the August labour force figures from the Australian Bureau of Statistics later this week, then there is something radically wrong with the new series and the way the budget cuts have forced the ABS to dilute the intensity of its information gathering.
RBA Gov Says Two More Sluggish Years
Going on last week's intense focus on the Reserve Bank's rate cut and then the National Accounts for the June quarter, you would have expected the appearance in public by a commenting Reserve Bank Governor would have been a headline grabber yesterday.
Origin Finds A New, Bigger Friend
Origin Energy seems to have found its white knight in the large ConocoPhillips oil group from the US which will joint venture Origin's Queensland coal seam gas reserves and shepherd them towards a multi-billion dollar export Liquefied Natural Gas project worth almost $US10 billion.
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