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Archive for the ‘AUSTRALIA’ Category

RACIST VIOLENCE ON AUSTRALIA DAY

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

by Justin Vallejo – Australian Associated Press

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, HATE MONGERING AND BIGOTRY, INTERNATIONAL, RECESSION | Leave a Comment »

BIG FOUR AUSTRALIAN BANKS HAVE JOINED THE GLOBAL ELITE – THE CRISIS IN THE FINANCIAL SYSTEM CATAPULTED ALL FOUR MAJORS INTO THE RANKS OF THE TOP 20 GLOBAL BANKS FOR THE FIRST TIME

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

by Scott Murdoch – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

$90M HOLE IN POLICE IT ARM (Australia)

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

by Rick Wallace and Gary Hughes

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, CORRUPTION, CRIMINAL ACTIVITIES, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, THE ARMS INDUSTRY, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIAN HOUSING BUBBLE ‘YET TO BURST’ – AN INTERNATIONAL GROUP HAS PREDICTED THAT THE HOUSING BUBBLE IN AUSTRALIA IS YET TO BURST

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

Australian Associated Press

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

FIFTY WHALES BEACH IN AUSTRALIA, ONLY TWO SURVIVE

Posted by Gilmour Poincaree on January 23, 2009

Thursday, January 22, 2009

Reuters

PUBLISHED BY ‘THE NATIONAL POST’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NATIONAL POST’ (Canada)

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, POLLUTION, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | Leave a Comment »

AUSTRALIA’S WINE INDUSTRY AT A CRISIS CROSSROAD

Posted by Gilmour Poincaree on January 21, 2009

19 Jan 2009 – 08:17 PM ET

Reuters

PUBLISHED BY ‘CNBC’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CNBC’ (USA)

Posted in AGRICULTURE, ALCOHOLIC BEVERAGES, AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

BHP BILLITON TO SHED 6,000 JOBS (Australia)

Posted by Gilmour Poincaree on January 21, 2009

January 21, 2009

by Rohan Sullivan – Associated Press Writer

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS, MINING INDUSTRIES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, UNEMPLOYMENT | Leave a Comment »

ALCOA WORKERS GIVE UP PAYRISE TO TRY AND SECURE JOBS (Australia)

Posted by Gilmour Poincaree on January 20, 2009

Tuesday, 20/01/2009

ABC – Rural

PUBLISHED BY ‘THE AUSTRALIAN BROADCASTING CORPORATION’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN BROADCASTING CORPORATION’

Posted in ALUMINUM, AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EMPLOYMENT, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS INDUSTRY, MINING INDUSTRIES, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

SPECTRE OF DEFLATION COULD BRING 1960s INTEREST RATE

Posted by Gilmour Poincaree on January 20, 2009

4:00AM Tuesday Jan 20, 2009

by Stephen Johnson – AAP

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUSTRALIA, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, DEFLATION, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

CLIMATE HORROR SCENARIO FOR ACT (Australia)

Posted by Gilmour Poincaree on January 19, 2009

19/01/2009 9:14:00 AM

by Rosslyn Beeby – Science and Environment Reporter

PUBLISHED BY ‘THE CANBERRA TIMES’ (Australia)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE CANBERRA TIMES’ (Australia)

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION | Leave a Comment »

PYRAMID BOSS’S RETURN RAISES CALLS FOR BANS – THE FAME THAT GOES WITH BEING THE MAN BEHIND THE PYRAMID BUILDING SOCIETY COLLAPSE HAS DONE LITTLE TO HARM BILL FARROW’S CAREER (Australia)

Posted by Gilmour Poincaree on January 19, 2009

January 20, 2009

by Rebecca Urban – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

TROUBLE AHEAD IF FOREIGN BANKS CALL IN DEBTS – NOW THAT THE SHARE MARKET’S TAKEN LAST WEEK’S MUCH EXPECTED BREATHER, IT’S WORTH TAKING A MEASURED LOOK AT SOME OF THE SURPRISES THAT MIGHT YET BE IN STORE FOR THE AUSTRALIAN ECONOMY IN 2009

Posted by Gilmour Poincaree on January 19, 2009

January 19, 2009

by Andrew Main – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FOREIGN DEBTS, INTERNATIONAL, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIAN JAILED FOR THREE YEARS FOR INSULTING THAI KING (Thailand)

Posted by Gilmour Poincaree on January 19, 2009

1230 PST, Monday, January 19, 2009

The International News

PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FREEDOM OF SPEECH AND CONSCIENCE, HUMAN RIGHTS, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, RECESSION, THAILAND | Leave a Comment »

NORTEL AUSTRALIA SAFE FROM BANKRUPTCY

Posted by Gilmour Poincaree on January 16, 2009

January 16, 2009

by Mahesh Sharma

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, COMMUNICATION INDUSTRIES, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MILITARY CONTRACTS, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

ASIA THE PERFECT FIT FOR QANTAS – AFTER THE TERMINATION OF AN $8 BILLION MERGER PROPOSAL WITH BRITISH AIRWAYS LAST MONTH, SPECULATION HAS RESURFACED THAT QANTAS HAS TURNED ITS ATTENTION TO ASIA AND IS LOOKING INTO A TIE-UP WITH ASIA’S BIGGEST BUDGET AIRLINE, MALAYSIAN-BASED AIRASIA, OR MALAYSIA AIRLINES (Australia)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Adele Ferguson – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AIR TRANSPORT INDUSTRY, ASIA, AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

ADLAND AWAITS GERRY HARVEY’S WILL – RESPONSIBLE FOR SPENDING HUNDREDS OF MILLIONS OF DOLLARS ON ADVERTISING EACH YEAR, HARVEY NORMAN PROPRIETOR GERRY HARVEY IS ONE OF THE AUSTRALIAN MEDIA’S MOST WATCHED MEN

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Nick Tabakoff – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, COMMUNICATION INDUSTRIES, CONSUMERS AND PSYCHOLOGICAL FACTORS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

ZINC MINERS TRIM AS DEMAND SLUMPS – THE ZINC PRICE, ALONG WITH THE PRICE OF ALL BASE METALS LINKED TO THE CONSTRUCTION INDUSTRY, CONTINUED TO HOVER AT LOW LEVELS IN 2008, LEADING TO A LIST OF MINE CLOSURES IN THAT SECTOR (Australia)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Sarah-Jane Tasker – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS, METALS INDUSTRY, MINING INDUSTRIES, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, UNEMPLOYMENT, ZINC | 1 Comment »

IRON ORE FALLS TO EARTH WITH CORRECT PRICE – IT’S PROBABLY A BIT EARLY TO CALL A RECOVERY BUT GLOBAL IRON ORE PRICES ARE SHOWING SIGNS OF LIFE

Posted by Gilmour Poincaree on January 10, 2009

January 09, 2009

by Andrew Main – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, IRON ORE, METALS, METALS INDUSTRY, MINING INDUSTRIES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

CURTIN UNIVERSITY MISLED ABOUT ADHD DRUG – THE ETHICS COMMITTEE OF AN AUSTRALIAN UNIVERSITY GAVE THE GREEN LIGHT TO A STUDY INVOLVING A TRIAL OF A NEW ADHD DRUG AFTER BEING WRONGLY TOLD BY A RESEARCHER THAT THE US FOOD AND DRUG ADMINISTRATION HAD DROPPED A “BLACK BOX” WARNING THAT THE DRUG BROUGHT AN INCREASED RISK OF SUICIDAL THOUGHTS (AUSTRALIA)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Julie-Anne Davies – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, CHEMICALS (processed components), COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FRAUD, HEALTH SAFETY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JUDICIARY SYSTEMS, PHARMACAL INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

CRIMINAL CHECKS ARE BIG BUSINESS – THE NUMBER OF CRIMINAL-HISTORY CHECKS ON AUSTRALIANS HAS INCREASED SIX-FOLD IN SEVEN YEARS TO CREATE A $50 MILLION BUSINESS FOR GOVERNMENTS AS PUBLIC AND PRIVATE ENTERPRISES SEEK TO IMPROVE THE SECURITY OF THEIR OPERATIONS (Australia)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Siobhain Ryan – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, SECURITY AND PRIVATE-EYE INDUSTRIES, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIAN BEER SALES RISE IN TOUGH ECONOMIC TIMES

Posted by Gilmour Poincaree on January 10, 2009

January 09, 2009

by Lema Samandar – Australian Associated Press

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in ALCOHOLIC BEVERAGES, AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

MACQUARIE GROUP HAS EXPEDITED AN ASSET SELL-OFF TO STRENGTHEN ITS CAPITAL AND BALANCE SHEET (Australia)

Posted by Gilmour Poincaree on January 9, 2009

January 09, 2009

by Scott Murdoch – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

CLIMATE CHANGE THREATENS PACIFIC, ARCTIC CONFLICTS

Posted by Gilmour Poincaree on January 8, 2009

7 Jan 2009, 0821 hrs IST

Reuters

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MILITARY CONTRACTS, RECESSION, THE ARMS INDUSTRY, THE FLOW OF INVESTMENTS, WARS AND ARMED CONFLICTS | Leave a Comment »

LEAN TIMES AHEAD FOR AUSTRALIAN MINERS – MORE CUTBACKS, CONSOLIDATION AND STRATEGIC FOREIGN PARTNERSHIPS ARE EXPECTED IN THE JUNIOR MINING SECTOR IN THE FIRST HALF OF 2009

Posted by Gilmour Poincaree on January 8, 2009

January 08, 2009

by Sarah-Jane Tasker – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS, METALS INDUSTRY, MINING INDUSTRIES, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, UNEMPLOYMENT | Leave a Comment »

TROUBLE WITH DEPOSIT GUARANTEES – THE STATE SHOULD PROTECT LIFE SAVINGS ONLY IN A CRISIS (Australia)

Posted by Gilmour Poincaree on January 8, 2009

January 07, 2009

The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, CENTRAL BANKS, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INTERNATIONAL, ORGANIZATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD), PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

STATE GAS PRICES TO SURGE ON CITIC DEAL (Australia)

Posted by Gilmour Poincaree on January 8, 2009

January 08, 2009

by Matt Chambers – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, GASOLINE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, REFINERIES - PETROL/BIOFUELS, THE FLOW OF INVESTMENTS | Leave a Comment »

INVESTOR SAYS FIRM MISSED PAYMENT

Posted by Gilmour Poincaree on January 8, 2009

4:00AM Thursday Jan 08, 2009

by Tamsyn Parker

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

MILL ON FULL STEAM BUT FOR FUNDS (Australia)

Posted by Gilmour Poincaree on January 8, 2009

January 6, 2009

by Ben Cubby and Andrew Darby

PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

Posted in AGRICULTURE, AUSTRALIA, BANKING SYSTEMS, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JUDICIARY SYSTEMS, PAPER INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, VEGETABLE FIBERS | Leave a Comment »

NATIONAL AUSTRALIA BANK PLANS TO BATTLE ON IN BRITAIN’S BAD TIMES

Posted by Gilmour Poincaree on January 8, 2009

January 06, 2009

by Scott Murdoch – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

RECRUIT BONANZA FOR ADF AS MILITARY SEEN AS SAFE HAVEN (Australia)

Posted by Gilmour Poincaree on January 5, 2009

January 06, 2009

by Cameron Stewart and Paige Taylor – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MILITARY CONTRACTS, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, THE ARMS INDUSTRY, THE FLOW OF INVESTMENTS, THE WORKERS, UNEMPLOYMENT | Leave a Comment »

OZ MINERALS ON ROAD TO MARTABE SELL-OFF

Posted by Gilmour Poincaree on January 2, 2009

January 02, 2009

by Matt Chambers – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS, METALS INDUSTRY, MINING INDUSTRIES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

EURO UP AGAINST DOLLAR, BUT SET FOR FULL-YEAR FALL – EURO GAINS BUT SET FOR FIRST YEARLY DROP SINCE 2005 – DOLLAR SEEN ON SHAKY FOOTING HEADING INTO 2009 – POUND DOWN 27 PCT VS DLR, WORST SINCE GOLD STANDARD ENDED

Posted by Gilmour Poincaree on December 31, 2008

Wednesday December 31 2008

Reuters

PUBLISHED BY ‘THE GUARDIAN’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (USA)

Posted in AUSTRALIA, BANKING SYSTEM - USA, BANKRUPTCIES - USA, CURRENCIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EURO, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GOLD, HOUSING CRISIS - USA, INTERNATIONAL, RECESSION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

PETROALGAE RAISES $10 MILLION IN COMMON STOCK OFFERING (Australia)

Posted by Gilmour Poincaree on December 31, 2008

12/29/2008 3:44:07 PM GMT

Energy Current

PUBLISHED BY ‘ENERGY CURRENT’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PETROL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIA ACCUSED OVER ANTI-WHALING SHIP ‘CRIMES’

Posted by Gilmour Poincaree on December 31, 2008

December 30, 2008

by Siobhain Ryan – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, JUDICIARY SYSTEMS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | 1 Comment »

AUSTRALIAN SHARES CLOSE UP 0.9 PER CENT

Posted by Gilmour Poincaree on December 30, 2008

30 Dec, 2008, 1103 hrs IST

Agencies

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

HUGE CASH OUTFLOWS HIT HEDGE FUNDS (Australia)

Posted by Gilmour Poincaree on December 28, 2008

December 29, 2008

by Adele Ferguson – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

IRANIAN PRESIDENT TAKES A SHOT AT THE WEST IN A CHRISTMAS MESSAGE – MAHMOUD AHMADINEJAD, IN A VIDEO FOR CHANNEL 4’S ‘ALTERNATIVE CHRISTMAS MESSAGE,’ OFFERS WARM GREETINGS BUT SAYS THE WEST’S BULLYING LEADERS AND THEIR POLICIES WOULD BE SHUNNED BY JESUS

Posted by Gilmour Poincaree on December 25, 2008

December 25, 2008

by Borzou Daragahi

PUBLISHED BY ‘THE L.A. TIMES’ (USA)

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Posted in AUSTRALIA, BELGIUM, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, ENGLAND, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN POLICIES - USA, FRANCE, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, ISRAEL, ITALY, NORWAY, PETROL, RECESSION, SAUDI ARABIA, SPAIN, THE EUROPEAN UNION, THE MEDIA (US AND FOREIGN), USA | Leave a Comment »

AGL LAUNCHES $171M OFFER FOR SYDNEY GAS – SHARES IN SYDNEY GAS SOARED TODAY AFTER IT RECOMMENDED A $171 MILLION OFF-MARKET TAKEOVER BID BY JOINT VENTURE PARTNER AGL ENERGY

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

by Cath Hart – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

BG EXEC LEAVES AFTER REVIEW OF SHARE DEALINGS – The head of BG Group’s Asian, African and Middle Eastern operations has left the company after an internal investigation found he committed “serious errors of judgment” in relation to his share dealings

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

by Ross Kelly – Dow Jones

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AFRICA, ASIA, AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, MIDDLE EAST, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

CITI AND DEUTSCHE AXED FROM INTERBANK RATE-SETTING PANEL

Posted by Gilmour Poincaree on December 25, 2008

December 23, 2008

by Scott Murdoch – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, BANKING SYSTEM - USA, BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

GRIM OUTLOOK FOR RICH NATIONS

Posted by Gilmour Poincaree on December 25, 2008

Tuesday, November 25, 2008 – 23:44 Mecca time, 20:44 GMT

AlJazeera

PUBLISHED BY ‘ALJAZEERA’ (Qatar)

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Posted in AUSTRALIA, BANKING SYSTEMS, BELGIUM, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FRANCE, GERMANY, HOUSING CRISIS - USA, INTERNATIONAL, ITALY, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SAUDI ARABIA, SPAIN, STOCK MARKETS, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, UNITED KINGDOM, USA | Leave a Comment »

COMMONWEALTH BANK TRUMPS RIVAL NAB IN WIZARD BUY (Australia)

Posted by Gilmour Poincaree on December 24, 2008

December 24, 2008

by Sam Holmes – Dowjones

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

PIPE PATCHES UP FINANCING FOR SUBMARINE CABLE – A GROUP OF LARGE AUSTRALIAN TELCO SERVICE USERS HAVE REACHED AN AGREEMENT TO RESCUE PIPE NETWORK’S $200 MILLION SYDNEY TO GUAM CABLE PROJECT

Posted by Gilmour Poincaree on December 22, 2008

December 19, 2008

by Andrew Colley

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, BANKING SYSTEMS, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

BABCOCK & BROWN POWER GETS INDICATIVE TAKEOVER OFFERS – Babcock & Brown Power is reviewing a number of submissions it has received from third parties to acquire the business (Australia)

Posted by Gilmour Poincaree on December 22, 2008

22/12/2008

Bill Lindsay – Dow Jones

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

MIDDLE CLASS STILL NOT SOLD ON CLIMATE CHANGE

Posted by Gilmour Poincaree on December 22, 2008

December 20, 2008

Stephen Lunn – Social Affairs Writer – THE AUSTRALIAN

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, RECESSION, WATER | Leave a Comment »

FAILED TALKS HALT NORTH KOREA OIL DEAL WITH AUSTRALIA

Posted by Gilmour Poincaree on December 20, 2008

December 19, 2008

by Peter Alford – Tokyo – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

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Posted in AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, NORTH KOREA, PETROL, RECESSION | Leave a Comment »

FUEL SYSTEMS SOLUTIONS ENTERS A DEFINITIVE AGREEMENT TO ACQUIRE ARGENTINE GASEOUS FUELS EQUIPMENT AND TECHNOLOGY MANUFACTURER DISTRIBUIDORA SHOPPING S.A. FOR $22 MILLION

Posted by Gilmour Poincaree on December 20, 2008

FUEL SYSTEMS SOLUTIONS FSYS – 12/19/2008 7:00:19 AM

GlobeNewswire via COMTEX News Network

PUBLISHED BY ‘STOCKHOUSE’

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Posted in AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, ITALY, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH AMERICA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

CHATHAM ISLANDS TO HARNESS WIND TO CUT POWER BILLS (New Zealand)

Posted by Gilmour Poincaree on December 17, 2008

9:57AM Wednesday Dec 17, 2008

NZPA

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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Posted in AEOLIC, AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIAN DOLLAR CLOSES STRONGER

Posted by Gilmour Poincaree on December 17, 2008

7:41PM Wednesday Dec 17, 2008

Australian Associated Press

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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Posted in AUSTRALIA, CURRENCIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, RECESSION | Leave a Comment »

NAB IN TALKS TO BUY GE’S AUSTRALIAN MORTGAGE UNIT

Posted by Gilmour Poincaree on December 17, 2008

16 Dec 2008 – 08:57 PM ET

ReutersPUBLISHED BY ‘CNBC’

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PUBLISHED BY ‘CNBC’

Posted in AUSTRALIA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIA UNVEILS WORLD’S LARGEST CARBON SCHEME AMID CRITICISM

Posted by Gilmour Poincaree on December 17, 2008

December 16, 2008, 00:09

Reuters

PUBLISHED BY ‘THE GULF NEWS’ (Dubai)

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Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | 1 Comment »

XSTRATA SHUTS HALF OF AUSTRALIA COKING COAL MINE

Posted by Gilmour Poincaree on December 16, 2008

16 Dec 2008, 10:03 hrs IST

REUTERS

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

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PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AUSTRALIA, COAL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, MINING INDUSTRIES, RECESSION | Leave a Comment »

OVERLOOKED SOLUTION TO CREDIT CRUNCH

Posted by Gilmour Poincaree on December 15, 2008

December 15, 2008

by Christopher Joye (*) – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

THE most fundamental lesson of the global credit crisis has been that the financial system had too much leverage, particularly the household sector, which in many advanced economies had assumed unsustainably high levels of mortgage debt. But surprisingly, that there has been little comment about the most salient solution: equity.

For hundreds of years listed companies have been able to seamlessly issue both debt and equity to finance their spending. Yet apart from recent innovations pioneered in Australia, households have never been able to source both debt and equity finance when buying their homes. This extreme reliance on debt has propagated huge problems, particularly in the US and Britain where the conjunction of flawed institutional frameworks and poor lending standards exacerbated the debt binge.

According to Fujitsu Consulting, the average home owner’s mortgage debt represents 57 per cent of the value of their property. The typical first time buyer’s mortgage accounts for over 70 per cent. Some gear up to an incredible 95 per cent or more. In today’s fickle markets, companies with that much leverage would be crucified. Yet this debt is secured against what is, in fact, a very risky asset. Our empirical research indicates that an individual home with all of its economic idiosyncrasies is about six times riskier than a diversified national property index. Indeed, the risk of an individual property is more akin to that of shares.

The experience of the past 12 months has reinforced the fact that single family homes can suffer serious price falls even though most have avoided this fate.

Make no mistake: residential property is very safe if you get access to a diversified portfolio. An Australian house price index proxies for more than $3.3 trillion worth of assets but the index’s incredibly low volatility is a mirage for the individual home owner who assumes a far higher probability of loss and has about 60 per cent of their wealth invested in this asset.

In 2003 I was the principal author of a report commissioned by the Prime Minister’s Home Ownership Task Force that presented a solution to the high levels of household debt that triggered the global credit crisis: the development of private markets in equity finance. Under our proposal, households would get access to zero-interest rate, shared equity home loans in exchange for trading away a small portion of the risks and returns of home ownership to outside investors. By doing so, they could cut their monthly mortgage interest repayments by 30 per cent or more while reducing their vulnerability to adverse economic shocks (think 2008-09). Importantly, they also retain complete control of their homes; they choose when to sell, what renovations to make, and at what point in the contract’s maximum 25-year term they wish to repay it.

Investors, such as super funds, get extremely low-cost, highly enhanced and very long-dated exposures to what has, during the past three decades (including the recent calamity) been the largest and best performing of all investment classes: residential real estate. Historically, investors have only been able to access highly concentrated, risky development-style holdings comprising small parcels of properties that incur heinous transaction costs of about 12.5 per cent. By investing in a portfolio of thousands of shared equity interests, super funds could avoid all of these costs and secure the low risk diversification that they have never had before. Independent actuarial analysis suggests that about 15 to 30 per cent of all super fund capital should, in theory, be allocated to housing, in part because its returns are so unrelated to the performance of other investments. Compare the 50 per cent plus losses in shares and listed property trusts in the past year with the fact that the RP Data-Rismark Australian House Price Index has tapered by only -0.8 per cent.

The former secretary of the Treasury and now head of super fund adviser Mercer, Tony Cole, said: “We find the case for institutional investment in (shared equity) compelling. Historically, residential real estate displayed a negative correlation with commercial property markets and a low correlation with the share market, providing diversification benefits in a multi-asset class portfolio.” Actual returns to Australian-shared equity portfolios during the past one-to-two years have validated this investment case.

Some commentators have made hyperbolic predictions of precipitous house price falls but they have been relentlessly wrong. The tremendous improvements in affordability delivered by the Reserve Bank’s reversal of its monetary policy settings, combined with the shortage of homes in this country, will likely ensure that this continues to be the case.

Following the 2003 task force’s recommendations, Bendigo & Adelaide Bank in conjunction with Rismark International launched the world’s first private-sector, mass-market shared equity finance program in which the lender participates in both the capital gains and wears the losses associated with home ownership without charging any interest. Hundreds of Australian families have bought their first home or cut their monthly mortgage costs by 30per cent or more as a consequence. Since then the initiative has won industry awards and public praise. Kevin Rudd even canvassed it as one solution in the housing strategy paper that he launched before last year’s election.

The task force recommendations and the Australian experience have been explicitly used as a guide for billions of dollars of government investment in shared equity initiatives in Britain and New Zealand. I have been invited by the Rockefeller and MacArthur foundations to show the new Obama administration how they can apply the Australian model to ease their housing woes.

Leading academics including Edward Glaeser at Harvard, Barry Nalebuff at Yale, Luigi Zingales at the University of Chicago and Joshua Gans at Melbourne University are calling on governments to help borrowers swap a portion of their mortgage debt for shared equity-style instruments.

The Rudd Government guaranteed bank debt and injected $8 billion into the securitisation market but it should address the fundamental problem of the mix of debt and equity on household balance sheets. The Opposition has declared its support. The South Australian, West Australian and Tasmanian governments have committed more than $500 million to underwriting public shared equity initiatives. But there remains a critical role for the commonwealth to play. Asymmetrical policy that only benefits the banks and conventional mortgage providers does not achieve this aim.

(*) – Christopher Joye wrote the 2003 Prime Minister’s Home Ownership Task Force report and is the chief executive of Rismark.

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Posted in AUSTRALIA, BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, UNITED KINGDOM, USA | Leave a Comment »