35-Year-Old Mining Magnate Tops Australia’s Young Rich List
Nathan Tinkler is the richest young person in Australia below 40 years old, according to BRW Magazine, which makes the annual list. The 35-year-old mining magnate and owner of Newcastle Knights has an estimated fortune of $1.13 billion.
NASA Satellite to Hit Earth Friday
A giant NASA satellite is expected to crash to the Earth's surface on Friday. The 12,500-pound, 35-foot long Upper Atmosphere Research Satellite is estimated to be the size of a school bus.
More Money for Aussie Retirees Under Superannuation Plan Upgrade
Up to $40,000 more of retirement funds was promised on Wednesday to Australian retirees under a proposed upgrade to the country's superannuation scheme. The means a 30-year-old full-time worker who currently earns about $68,000 yearly would receive $150,000 upon retirement.
Abbott Seeks Gillard Resignation
Opposition leader Tony Abbott challenged on Thursday Australian Prime Minister Julia Gillard to resign because of her inability to protect the country's borders.
Angry Birds Merchandise Sales Hit 1 Million Monthly
Angry Birds mania continues to spread rapidly even beyond the techie world. Proof of this is that Angry Birds soft toys are also selling like hotcakes at the rate of one million pieces monthly.
Australia May Be Affected by U.S. Economic Slowdown
A day after the International Monetary Fund (IMF) downgraded Australia's growth forecast over global recession concerns, a Reserve Bank of Australia (RBA) official acknowledged on Wednesday that the country could be affected by the U.S. economic slowdown.
Sydney Homeowner Stabs to Death Robber Armed With Stun Gun
A 54-year-old homeowner in Sydney stabbed on death on Wednesday afternoon a 30-year-old intruder armed with a stun gun.
Complaints Lead to Ban on Lord’s Prayer in Perth Primary School
In response to complaints of parents, the Edgewater Primary School in Perth's north banned the recitation of the Lord's Prayer.
Bankers Propose More Tax Breaks for Australian Parents
The Australian Bankers' Association (ABA) has proposed more tax breaks for Australian parents in a position paper it sent to Treasury.
Online Store CatchoftheDay Challenges Australian Traditional Supermarkets Further
In a bid to get a larger cut of the shrinking Australian consumer market, online department store CatchoftheDay rolled out on Wednesday it third e-commerce portal named Grocery Run. By its foray into grocery, the online seller challenges traditional supermarkets.
PM Gillard to Skip New ABC Political Satire
Australian Prime Minister Julia Gillard said she would skip watching the third episode of ABC political satire "At Home With Julia", which airs Wednesday night.
Google+ Opens Door to Public, Invitation No Longer Needed to Join
The two giant technology giants, Google and Facebook, upped their ante this week as they battle for supremacy in the cyberworld.
Tasmania Labor Party Vows Support for Same-Sex Marriage Motion
Tasmanian Premier Lara Giddings promised the support of the Labor Party in the Australian state, which she also heads, for a same-sex marriage motion filed in the state parliament on Tuesday.
IMF Cuts Australia Growth Forecast to 1.8% in 2011
The International Monetary Fund (IMF) reduced on Wednesday its growth forecast for Australia to 1.8 per cent from previous forecast of 3 per cent. The gloomier outlook is part of the fund's warning of a new global recession that would hit commodity prices and lead to higher unemployment rates.
Court Allows Metcash $250 Million Purchase of Franklins
Federal Court Justice Peter Jacobson ruled on Tuesday in favor of Metcash's and Pick n Pay's planned purchase of supermarket chain Franklins for $250 million because the transaction would not violate the country's anti-trust laws.
Economic Slowdown Forces RBA to Hold Interest Rates Unchanged Until Year-End
Analysts forecast that the Reserve Bank of Australia (RBA) will keep the key lending rate of 4.75 per cent until the year end because of economic slowdown in the country and uncertain global outlook.
Mining Executives Forecast Further Rise in Gold Prices
The value of gold as an investment was further confirmed as mining executives in two separate gold fora forecast the precious metal's rise in price amid a weak global economy.
Samsung Begins Legal Action to Ban Sale of Apple’s New iPhone in Europe
The ongoing legal battle between Samsung Electronics and Apple worsened with the South Korean firm studying legal action to ban the sales of Apple's new iPhone.
Moody’s Classifies Australian Companies’ Debt as Attractive Risk
Moody's Investors Service classified on Monday the corporate debts of Australian companies as attractive risk. With the classification, the Aussie firms will not find it difficult to refinance their $23 billion debt over the next two years, Herald Sun reports.
New South Wales Liberal MP Suffers from Depression
New South Wales Liberal MP Catherine Cusack filed for leave from the state's Upper House due to clinical depression.
Tasmania State Parliament to Vote on Same Sex Marriage Motion
The Tasmanian State Parliament will vote Tuesday on a proposed same sex marriage motion, making Tasmania the first Australian state to push for legalized gay unions.
Qantas Locks Out Striking Workers
The four-hour strike at Qantas which was supposed to start at 7 a.m. in many airports began 3:30 a.m. The early start was caused by the air carrier's alleged lockout of the 3,800 striking baggage handlers, ground staff and caterers.
Virgin Australia, Delta Enter into Codeshare Deal
Virgin Australia and Delta Air Lines announced on Monday a code sharing agreement on trans-Pacific flights beginning Nov. 6, 2011.
Online Gamers Decipher Enzyme of AIDS-like Virus, Beating Scientist
Online gamers at the University of Washington have deciphered the enzyme of an AIDS-like virus, beating trained research scientists who have been trying to design a model for over a decade.
Qantas Cancels 28 Flights, Delays 27 Ahead of Tuesday Strike
The four-hour walk-out of about 3,800 baggage handlers, ground staff and caterers of Qantas is scheduled Tuesday, but a day ahead of the work stoppage, the air carrier canceled on Monday 28 flight and delayed 27 more by up to 35 minutes.
Premier Investments Registers 49% Profit Decline in Retail Businesses
More confirmation of the weakness of Australia's retail industry came out on Monday as investment firm Premier reported a 49 per cent drop in profit for its retail businesses.
Second Theft in a Week Hits McDonald’s Drive-thru in Sydney
A McDonald's drive through in Sydney suffered its second robbery within a span of one week.
Queensland Firefighters Battle 340 Blazes Across State
The Queensland Fire and Rescue Service placed the entire south western region of the state under heightened alert in the coming days as 340 blazes swept across the Australian state.
Indian Billionaire Wants to Acquire Stake in Rinehart Mines
Indian billionaire G.V. Krishna Reddy wants to acquire a stake in Hancock Prospecting, owned by Gina Rinehart, Australia's richest woman. He agreed to pay $1.26 billion to acquire a 79 percent share in the coal assets, Bloomberg reports.
Financial Abuse of Aussie Parents on the Rise
There is a rising rate of Australian children abusing their elderly parents financially, the Herald Sun reports.
