POLITICS & POLICY

Global Markets Overview - 10/19/2011

U.S. stocks hit fresh session highs after a report circulated that France and Germany had agreed on a EUR2 trillion plan to combat Europe's sovereign debt crisis. The Dow Jones Industrial Average rose 250 points, or 2.2%, to 11651, after earlier falling as much as 101 points. The Standard & Poor's 500-stock index gained 32 points, or 2.7%, to 1233, led higher by financial and industrial stocks. Each of the index's 10 sectors traded in positive territory.

Australian Stock Market Report - Morning - 10/19/2011

MORNING REPORT (7am AEDT)US producer prices rose by 0.8pct in September, driven by higher energy prices. Economists had tipped a gain of only 0.2pct. But the core rate - excludes food and energy - rose by 0.2pct, just above the consensus forecast for a 0.1pct rise. And the NAHB/Wells Fargo Housing market index hit a 17-month high in October, lifting from +14 to +18.

Bus Drivers Agree to Lift Ban, State Transit Says Buses are ‘Safe’

The bus drivers union agreed on Tuesday night to an Industrial Relations Commission order to lift a ban on gas-powered buses in Sydney. The explosion of a gas-powered bus prompted public bus drivers to raise their protest by refusing to get on the road, resulting in huge inconvenience among Sydney passengers at peak hour Tuesday.

Sydney Transport in Chaos as Bus Drivers Parked in Protest of ‘Unsafe’ Buses

A suspected explosion in a gas-powered bus prompted public bus drivers to park their vehicles instead of getting on the road, creating commotion among Sydney passengers at peak hour. Fearing the risk of another explosion, drivers are refusing to drive 700 gas-powered buses after learning about a video footage of a bus in fire reportedly after an explosion.
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Telstra Shareholders Pass $11B NBN Deal

Shareholders of Telstra have agreed and voted in favor of the $11 billion deal with the Australian government, allowing Telstra's fixed-line dominance be used by the NBN Company.

Bill Clinton’s Celebrity Funny or Die Video [PHOTOS]

Last Saturday, former President Bill Clinton celebrated his 65th birthday. Although his original birthday was on Aug. 19, it was a belated treat to also celebrate "A Decade of Difference: A Concert Celebrating 10 Years of the William J. Clinton Foundation."

Australian Stock Market Report - MIDDAY - 10/18/2011

MIDDAY REPORT (12pm AEDT)The Australian sharemarket is down 1.6 pct or 71.5 pts to 4266.4, effectively wiping out all of yesterday's impressive gains. Markets tumbled overnight due to concerns that the European debt solution might fall short of expectations.

5,000 Jobs At Risk in Rio Tinto Aluminum Sell-off

Unemployment jitters have alluded at least 5,000 workers of Rio Tinto after the Anglo-Australian global miner announced on Monday it wants to divest from thirteen of its aluminum units, including refineries and smelters, to restructure its Alcan aluminum business and reinforce the company's financial performance.

More Australians Prone to Poverty: Report

The high cost of living is putting more low-income Aussies at risk of falling into poverty, a report says. Poorer households are compelled to spend more of their income on essential goods and services due to price hikes on these non-discretionary items, such as food and electricity, a report by St Vincent de Paul Society says. As a result, households' health and education expenses are delayed, if attended at all.

Australian Dollar Outlook - 10/18/2011

Bell FX Currency Outlook: Volatility in the AUD has continued overnight; falling from a one-month high of USD1.0370 back down to USD1.0150 this morning, as investors' confidence in a Euro-zone solution faded.

Global Markets Overview - 10/18/2011

U.S. stocks tumbled Monday, as fresh worries over the progress of Europe's sovereign debt negotiations spurred a sell off that erased Friday's gains.

Australian Stock Market Report - Morning - 10/18/2011

MORNING REPORT (7am AEDT)US industrial production rose 0.2pct in September, in line with expectations as a gain in manufacturing production offset a drop in utility output. However the August reading was revised lower to show flat output.

ISN Backs Govt Move: Financial Planners Must Disclose Fees to Clients

The Industry Super Network (ISN) has expressed strong support to the Australian government’s proposals that require financial planners to disclose the fees and commissions they are receiving from their clients’ investments and superannuation accounts on an annual basis.

Changes Boost Australia's First Home Saver Scheme

Changes to the Australian government’s $1.2 billion First Home Saver Account (FHSA) have boosted the scheme after an underwhelming response during the first two years of its operation, mortgage broker Loan Market has revealed on Monday.

Australian Government to Intercede in Qantas Labor Row

The lingering disagreement between the Australian and International Pilots Association (AIPS) and the management of the leading airline in the country has already ruined travel plans of more than 60,000 passengers in Australia.

Qantas, Pilots on Stalemate; PM Gillard Wants Swift Resolution

Prime Minister Julia Gillard had wanted to intervene in the country's biggest labor row involving Qantas and its three labor unions. However, the Prime Minister said those involved in the dispute are still willing to resolve the matter without the government. Qantas management claims it remains duty-bound to continue talks with the pilots’ union.

Australian Dollar Outlook - 10/17/2011

The AUD has opened this morning above 1.0300 after another positive day on Friday on equity markets both in Europe and the United States, on the belief a recapitalization plan for European banks will be announced next weekend.

Builders Reject Regulation of Independent Contractors

Australia’s building and construction industry has expressed concern following Thursday’s ruling by Fair Work Australia in ADJ Contracting Pty Ltd which upheld the legality of enterprise agreements regulating the engagement of independent contractors.

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