Coles' latest ploy of imposing steep discounts on fresh produce being sold on its numerous stores could backfire and drive many Australian farmers out of business.
The ongoing price war between Australian supermarket giants Coles and Woolworths has led some MPs to seek a major amendment to the country's competition law. The legislators warned that the short-term benefits shoppers get from a 50 per cent price reduction on fruits and vegetables sold by Coles could mean disaster for the agriculture sector.
The Australian sharemarket is losing a little ground for the third straight session, with the All Ordinaries index (XAO) down 0.3 pct or 13.4 pts to 4312.3. Most sectors are currently trading in the red however the retail, healthcare and telco sectors are all edging higher.
The Australian government will make true of its pledge to realise a budget surplus by 2013, notwithstanding the challenges this year that economists said could plunge key economies into recession, specifically in Europe.
On 2 September 2011, the High Court granted special leave for Bendigo TAFE to appeal the majority decision of the Full Federal Court in the matter of Barclay v The Board of Bendigo Regional Institute of Technical and Further Education [2011].
Bell FX Currency Outlook: The Australian Dollar continued to outperform overnight on news that European leaders have agreed to a new fiscal pact and a permanent bailout plan for the Euro zone.
Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.
The Dow was in line for a fourth straight decline after a weaker than expected reading on consumer confidence erased early gains prompted by agreements designed to address Europe's sovereign-debt issues.
New Zealand Prime Minister John Key met Australia's Prime Minister Julia Gillard over the weekend to discuss, among other things, the plight of New Zealanders seeking to start a new life in Australia.
The World Trade Organisation (WTO) said on Monday that China violated global trade regulations when it restricted the shipments of nine materials that were crucial in the production activities of steel, aluminium and chemical industries in a number of nations.
In what could be a very favourable push towards its diversification plans, the Belinga iron ore deposit, Gabon's largest iron ore project, is already likely to fall into the hands of Australian mining giant BHP Billiton Ltd. in February.
The slowing global economy could potentially affect the construction and start-up operations of BHP Billiton Ltd.'s $20 billion expansion into the Olympic Dam copper, gold and uranium mine.
The Australian sharemarket was higher for part of the day however was not able to hang onto gains for the whole session. The All Ordinaries index (XAO) fell 0.2 pct or 8.7 pts to 4325.7 and lost ground for the second straight day.
Australia needs to beef up its military might on the northwest coast, where most of the country's resource and mining activities were located, according to the initial recommendations of a review being conducted by the Defence Ministry.
Jan. 30 came and went, but rare earths miner Lynas Corp. still failed to gain approval for a temporary operating licence for its controversial LAMP advanced materials refinery in Gebeng, Kuantan, Malaysia.
The New Zealand government told UNICEF that it will continue to educate ethnic communities to prevent forced marriages involving young women and will not make change to the country's marriage legislation.
Reading the latest Newspoll numbers could embolden Foreign Minister Kevin Rudd to ramp up his challenge on the leadership of Prime Minister Julia Gillard, which painted the latter as gradually losing her grip of power, at least as far as Australian voters are concerned.
This year, 2012, would likely be as tough or even more difficult than 2011, Australian Treasurer Wayne Swan said on Tuesday in his first weekly economic note for the year.
After trading in the red for part of the morning, the Australian sharemarket is now gaining for the third time in five days. The All Ordinaries index (XAO) is up 0.2 pct or 10.2 pts to 4344.6. Despite a weak start to the day, the miners and big banks are now trading in the black which is giving the broader market a boost.
Lacklustre trading is expected in Australian markets following the subdued overnight trading results in the U.S. and European markets still deeply embroiled in the debt crisis.
Bell FX Currency Outlook:
The AUD has recovered from an overnight low of USD 1.0527, to currently be holding steady around USD 1.0600, despite risk aversion trading seen overnight as concerns over the European debt crisis surface once again.
Stocks pared losses in afternoon trading Monday but remained in the red as investors focused on the standoff between Greece and its private creditors, as well as a surge in Portugal's borrowing costs.
he Australian sharemarket was unable to stage a late comeback this afternoon, with the All Ordinaries index (XAO) ending the session 0.3 pct or 14.1 pts lower to 4334.4. Almost all regions of the market ended in the red with the exception of consumer discretionary companies and the utilities.
Qatar, the world's biggest exporter of liquefied natural gas (LNG), has earmarked costs of $25 billion to support the expansion and development of its domestic petrochemical industry over the next decade.
Plans by Rosia Montana Gold Corp. to use chemical compound cyanide to dig up some 314 tonnes of gold in the village of Rosia Montana, touted as Europe's largest gold deposit, had encountered an equally interesting two-faced type of objections in Romania - one against it and the other supporting it.
Reserve Bank Governor Alan Bollard says he will not be seeking a third term for New Zealand's central bank leadership.
Despite intense calls of investigation coming from the Coalition, the Australian Federal Police (AFP) said on Monday that the information leak which preceded the Australia Day controversy did not merit a criminal investigation.
Voters' support for the Australian Labor Party surged over the past three months, according to the latest Galaxy Poll commissioned by News Ltd, but Prime Minister Julia Gillard still faces the spectre of defeat if elections were held today.
The Australian sharemarket has kicked off the new trading week with uncertainty. Shares were lower on the open, gained for the next hour of trade and have now dipped into the red once again. The All Ordinaries index (XAO) is down 0.1 pct or 4.5 pts to 4344.
Bell FX Currency Outlook:
The Australian Dollar remains fairly much unchanged after a choppy session offshore which saw a fall in US equity markets as the benchmark Dow Jones ended down 0.58% to 12,660 points.
