Latest Australia News
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$A falls to 2.5year low after Fed comments
The Australian dollar dived to its lowest point in two-and-a-half years after being dealt a double blow by news out of the US and China. At 1700 AEST on Thursday, the local unit was trading at 92.29 US cents, down from 94.92 cents on Wednesday. On Thursday afternoon the currency fell as low as 92.24 US cents, its lowest level since September 2010. The fall came as investors flocked to the US ...
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Unions back PM ahead of final sittings
The major unions are uniting behind Julia Gillard in yet another sign the prime minister could survive any further threat from Kevin Rudd, and lead Labor to the federal election. Australian Workers' Union boss Paul Howes and Shop, Distributive and Allied Employees Association chief Joe de Bruyn on Thursday joined the ACTU's Dave Oliver to declare their support for Ms Gillard. The ...
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Tas forestry fraud needs probe report
A Senate inquiry has called for a full investigation into allegations a $45 million scheme to help downsize the Tasmanian forestry industry has been rorted. Claims have been made that some logging contractors accepted up to $3 million of government money to exit the sector, only to continue their businesses through loopholes. They included the passing on of assets to relatives. The scheme was ...
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Aust bonds weaken after Fed comments
Australian 10-year bond futures prices fell to a three-month low after the US central bank announced it would wind back its $US85 billion a month bond purchase program. ANZ head of interest rate research Tony Morriss said there was a big sell off in US and Australian bond markets early on Thursday after the press conference by Federal Reserve chairman Ben Bernanke. "The Fed pretty much ...
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Senate gives green light to spinner Ahmed
Cricket Australia's politicking has succeeded, now it's simply a question of form as to whether Pakistan-born legspinner Fawad Ahmed makes his Test debut in the Ashes series. Legislation that fast-tracks citizenship in special circumstances, including elite athletes such as Ahmed, cleared the Senate on Thursday. The new measure gives the immigration minister power to apply shorter ...
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Origin bench time doesnt scare Reynolds
Not fazed by spending the entire State of Origin opener on the sideline, NSW utility Josh Reynolds says he won't be fussed if coach Laurie Daley repeats the dose in game two on Wednesday. Reynolds joined an elite group in game one when he sat on the interchange bench, unused, for 80 minutes. Among the first to comfort him after fulltime was Daley - who apologised for leaving him out of ...
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Stocks to watch at close on Thursday
Stocks to watch on the Australian stock exchange at close on Thursday: ANZ - AUSTRALIA AND NEW ZEALAND BANKING GROUP - down 70 cents, or 2.47 per cent, at $27.65 The ANZ bank is considering axing up to 600 call centre jobs in Melbourne and moving them overseas. FMG - FORTESCUE METALS GROUP - down 22 cents, or 6.55 per cent, at ...
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Japans Nomura cuts Australian jobs as banks trim costs
Nomura is removing duplication from its equities business after its acquisition of the Instinet trading platform, a source familiar with the process ...
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No wrongdoing on legionnaires news Wesley
A MANAGER of the Wesley Hospital in Brisbane at the centre of a disease outbreak denies any wrongdoing in not revealing a 2011 legionnaires' ...
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Australia Bob Irwin Tours Coastal Queensland to “Fight for the Reef”
As part of the Fight for the Reef campaign, veteran Wildlife Warrior Bob Irwin will be speaking at public meetings in Rockhampton, Bowen, Townsville and Cairns next ...
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Man 73 fatally attacked in Adelaide home
A great-grandfather was fatally attacked in his own home by a boarder who drank up to three casks of wine a day, an Adelaide court has been told.In her victim impact statement, Jasmine Tonkin-Croft said the death of her grandfather meant he was missing from the weddings of her three brothers last year."I was fortunate to have grandpa at my wedding," she told the South Australian ...
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Update-Moodys withdraws OCBC Sydneys provisional subordinated and junior subordinated ratings
Thu Jun 20, 2013 3:20am EDT Oversea-Chinese Banking Corp Ltd (Sydney) For the full text of this story please click the following ...
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Nurture local talent or fail warns Thodey
Telstra chief David Thodey says Australia is not doing enough to foster talent and innovation.The telco boss told a business lunch in Sydney on Thursday that the world was entering the "age of the consumer", as massive numbers of people throughout Asia moved into the middle class and began spending.With that shift would come opportunities that Australia could capitalise on if it did ...
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Aust shares close more than 2 lower
Australian shares suffered their worst loss in a day since February amid jitters over a cutback in US stimulus measures and weaker than expected Chinese manufacturing data.The major ASX 200 and All Ordinaries index closed more than two per cent down.The US Federal Reserve signalled overnight that it could start winding back its $US85 billion-a-month cash stimulus program as early as ...
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No date to resume NBN work Thodey
Telstra chief executive David Thodey says he does not know when work will resume on remediation of asbestos-affected telecommunications pits.However, Mr Thodey said he is not concerned about delays to the rollout of the National Broadband Network."We won't go back to work until we've absolutely got our confidence at a reasonable level about making sure it's safe and ...
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British Irish Lions Robbie Deans to give James OConnor the start at fly-half for Australia
Coach Robbie Deans will give James O'Connor the start at fly half and the opportunity to lead Australia's attack against the British & Irish Lions on ...
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Orioles crush Tigers in MLB
Baltimore first baseman Chris Davis has hit two home runs to lead the Orioles to a 13-3 thumping of the Detroit Tigers.Davis cleared the fence in the fourth and ninth innings, putting four runs on the board for the Orioles, while he also notched another run for Baltimore in the seventh inning when he sent Manny Machado across the plate.The Orioles scored six runs in the fourth inning and added ...
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Aussies spending more and more CBA says
Discounts by retailers and lower interest rates boost spending for a ninth consecutive month, according to figures from the Commonwealth ...
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Shares soar in Murdochs papers
Newspapers might be struggling in the online world but investors still sent shares in Rupert Murdoch's new publishing arm soaring on ...
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Chevron Says Cost Pressures in Australian Resources Still Intense
PERTH - Chevron Corp. is finding cost pressures remain intense as it advances 80 billion Australian dollars (US $74 billion) of new gas-export projects in Western Australia, despite a recent slowdown in the state's economy, a senior executive said Thursday. Chevron is leading development of the Gorgon liquefied natural gas project and the nearby Wheatstone terminal as it looks to meet ...
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Ashes 2013 Fawad Ahmed moves closer to Australia team
Pakistan-born leg-spinner Fawad Ahmed has been named in Australia's A squad to tour Africa during the Ashes. Photograph: Mal Fairclough/AFP/Getty ...
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Golf Adam Scott adds Australian Open to busy home schedule
Sydney 2000 Masters champion Adam Scott has set himself a gruelling home schedule after adding the Australian Open to his play list.The national championship, at Royal Sydney Golf Club from November 28 to December 1, will cap off what is set to be a run of four tournaments in four weeks for Scott as he returns to celebrate the green jacket he won at Augusta National with home fans.He will open ...
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Biggest-ever Adelaide Boat Show on at Wayville until Sunday
SPARKLING luxury cruisers, classic wooden models and basic tinnies - the Adelaide Boat Show promises punters its biggest and most diverse event yet. Boating Industry Association of SA general manager Glen Jones is expecting that a crowd of about 20,000 people will attend the show, which is on at Wayville Showground until Sunday. "Things have been pretty grim and dark out there for the last ...
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Australia shares dive on Fed stimulus plan weak China flash PMI
Thu Jun 20, 2013 2:45am EDT (Adds detail, comment) SYDNEY, June 20 (Reuters) - Australian shares dived 2.1 percent on Thursday, its largest one-day drop in four months, as global equities tumbled after Federal Reserve Chairman Ben Bernanke confirmed fears the U.S. central bank could begin to scale back its stimulus measures later this year. Banks led the sell-off, with top lender Commonwealth ...
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I dont need babysitting NSWs Hoffman
Melbourne and NSW back-rower Ryan Hoffman says he is in no need of babysitting on a night out, but admits employing minders could help players who can't help themselves. The recent spate of NRL players finding themselves in unsavoury situations in the early hours of the morning has strengthened calls for security guards to shadow them. Even Queensland coach Mal Meninga isn't immune - ...
Brisbane Digest
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Cost of driving is becoming punitive in Brisbane
Is driving in Brisbane becoming punitively expensive? With the recent toll increases, on top of those made in 2006 and 2008, as well as last year, and the recent mis-management surrounding the privatisation of major roads in Sydney, it seems that using major roads in Brisbane is going to become even more expensive.
Brisbane, like many cities across Australia, is facing a mounting budget deficit in the wake of the near-crippling financial crisis and ensuing recession, as the state capital, it must also oversee Queensland’s plunge in revenues, which has created a budget deficit of over $2.3 billion for the state. Read more
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