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Alcoa Australia Rolled Products announced on Thursday it will sack 90 staff at its Geelong plant and 60 from Yennora in western Sydney. It is blaming the global financial crisis, rising costs and high foreign exchange rates for the sackings. Mr Swan told...
Tags: Alcoa Australia Rolled Products, global financial, financial crisis, Alcoa, Labor, Dow Jones Industrial Average, Business cycle, Emissions trading, Financial crisis of 2007¬タモ2009, Business Finance, Macroeconomics, Cesar Melhem, Wayne Swan, Recessions, Melhem, Market trends
But now it is set to make a comeback after yesterday's decision by Westpac to raise its home loan rates by almost double the Reserve Bank's official movement of a quarter of a percentage point. Westpac says the cost of sourcing money on global markets...
Tags: Reserve Bank of Australia, Westpac, financial crisis, United Kingdom, London, Business Finance, Interest rates, Australian property bubble, Stock market crashes, Economic disasters, Unemployment, Gail Kelly, Banks of Australia, Monetary policy, Euro, Wayne Swan, Public finance, National Australia Bank, Interest, Central bank, Inflation targeting, Labor economics, Fiscal policy, Financial crisis of 2007¬タモ2009, Late-2000s recession, Macroeconomics, Inflation, Bank rate, Glenn Stevens, Financial crises, Interest rate
Official business investment data due out this week is expected to show more signs of an economic comeback. Westpac chief economist Bill Evans said positive news on the economy since the Reserve Bank's last meeting on Melbourne Cup day made another rate...
Tags: rate rise, Australia, Sydney, Macroeconomics, Economist, Occupations, Wayne Swan, Business Finance
Kevin Rudd may be the most controlling prime minister Australia has had, and he has a massive agenda on his plate, but will he ultimately be remembered for landmark achievements or an unwillingness to make tough decisions? A S HE enters the third and...
Tags: Kevin Rudd, Rudd Government, Australia, Canberra, Bob Debus, John Howard, Bob Hawke, Australian Labor Party, Julia Gillard, Politics, Members of the Australian House of Representatives, Prime Ministers of Australia, Nathan Rees, New South Wales, Ross Garnaut, Rudd, Wayne Swan, Government of Australia, Northern Territory National Emergency Response, Politics of Australia, Kim Beazley
Mr Swan told an audience in Canberra on Wednesday the government, through its stimulus measures, had fought the permanent destruction of skills that usually comes with a sharp economic downturn. "We didn't let people swing in the breeze...He says it means...
Tags: stimulus measures, Australia, Canberra, Labor economics, Unemployment, Wayne Swan, Fiscal policy, Politics, Recessions, Business cycle, Macroeconomics, Labor
Afghan Foreign Minister Stephen Smith has said Australia would not increase troop numbers to Afghanistan, despite the top U.S. general on the ground calling for a military boost. Australian Prime Minister Kevin Rudd made a surprise visit to the war-torn...
Tags: Australia, Canberra, Stanley A. McChrystal, Afghanistan, Afghan National Army, Military of Afghanistan, War in Afghanistan, International Security Assistance Force, War Conflict, Politics, Labour Party, Valerie Amos Baroness Amos, Baroness, Amos, Environment, Wayne Swan, Julia Gillard, Paul Keating, Bob Hawke, Cabinet of Australia, Members of the Australian House of Representatives, Kevin Rudd, Rudd
Treasurer Wayne Swan will give this estimate, covering the period 2009-10 and 2010-11, at an Australian Industry Group breakfast in Melbourne today, in a speech thanking business for keeping on workers during the bad times and urging banks to do more...
Tags: Wayne Swan, tax reforming, Mr Swan, Ken Henry
Wayne Swan laid out the commercial benefits of the proposed scheme towards the end of a long day spent debating the ETS legislation in the lower house. He said carbon trading was critical to help build the low-pollution economy Australia needed to prosper...
Tags: Reserve Bank of Australia, board meeting, rate rise, Wayne Swan
Wayne Swan will today read the riot act to the states over their plan to gouge pension increases, using a meeting of the nation's treasurers in Canberra to insist it will not be tolerated. The showdown comes as the National Seniors lobby urges the Federal...
Tags: Wayne Swan, public housing, Canberra, Mr Swan, housing rent
The Olivier Job Index rose 3.58 per cent in September following a 2.43 per cent increase in August. The publisher of the index, recruitment firm owner Bob Olivier, says it is a great sign for the job market. But he says the downside could be that Reserve...
Tags: Reserve Bank, Australian, advanced economy, victory lap, Wayne Swan