Friday, September 30, 2011
Latest Qantas strike hits 8500 passengers
Thursday, September 29, 2011
Australian bonds follow US Treasuries higher
Wednesday, September 28, 2011
Newspaper Article on Great Depression
BHP reveals WA Ambitions
Tuesday, September 27, 2011
Aussie stocks set to surge (Live blog)
Monday, September 26, 2011
Debt Crisis- Saying goodbye to Greece- softly
Sunday, September 25, 2011
G20 plea falls on deaf ears as shares nosedive
24/9/2011
http://www.theaustralian.com.au/business/markets/g20-plea-falls-on-deaf-ears-as-shares-nosedive/story-e6frg916-1226144913121
Shares from around the world and in Australia tumbled on the 24th as shares fell again after its horror day on Thursday. Korean shares fell 5.6%, Hong Kong fell 2.2% and even China fell 1.1% in the Asian region, meanwhile in Europe the STOXX 600 fell 4.6% and the S&P 500 also fell 3.2%. The G20 in the possibility of a second financial crisis has stated that it is committed to an action plan of policies to ensure global economic stability by introducing its bailout fund of $605 billion AUD.
However due to the Australian dollar falling below parity with the US dollar it means that stocks with offshore earnings rose, especially BlueScope steel rising 6.2%, but with mining stocks came a fall, with both mining players BHP and Rio Tinto both falling around 3%.
Friday, September 23, 2011
Dollar licks wounds after heavy loss
Thursday, September 22, 2011
ASX plunges below 4000 points
This news is therefore not good for players of the share market game and for real investors as the uncertainty in Europe and America are hurting the market. However investors in Fosters will have something to smile about as SABMiller took over the company in an offer worth $12.3 billion. As a result Fosters jumped 8.2% and other liquor based groups such as Treasury Wine Estate and luxury accessories group OrotonGroup also rose after sales had exceeded expectations.
Tuesday, August 2, 2011
US Debt Deal wins approval in US House of Representatives
2/8/2011
http://www.smh.com.au/business/world-business/us-debt-deal-wins-approval-in-house-of-representatives-20110802-1i8um.html
This article is about the US Debt Deal that passed the US House of Representatives to appease the US of a possible economic crash to increase the amount that the United States can borrow.
This article relates to Commerce as this deal tests the stability of the US economy. Also if the economy ran out of money the US would lose its triple A credit rating, which can limit the amount of spending the United States can do in maintaining the country. This deal will raise the US Government's $14.3 bn borrowing limit and it will remove the risk of the US not being able to borrow money to pay its bills.
However this late deal has prompted world economies to slump in days previous, and it has also bothered overseas governments which were anxious for a deal to pass, and for the political war between the Republicans and Democrats to end, as it has hampered the making of a deal within the past week. This has caused critics to not be happy with the United States Government as it was playing a large risk in delaying the passing of this bill; playing a political game.
If the AAA rating were to be downgraded it would raise US borrowing costs, hamper its economic recovery and rattle global investors, and also worsen the European debt crisis.
Tuesday, July 19, 2011
Phone hacking scandal- London
After many high profile resignations were caused by the News of the World phone hacking scandal now David Cameron, the Prime Minister of the United Kingdom, is under fire. He has called an emergency meeting of MPs the day after the Murdoch parlimentary committee is to take place, and there are accusations of senior MPs and high profile police taking bribes from senior executives from News of the World, after the case was closed in 2009.
This relates to Commerce as this phone hacking can impact world economies and governments due to distrust among different parties.
This is a major impact on Rupert Murdoch's media empire and his credibility of his various newspapers, after it has been revealed that phone hacking is commonly used as a source of information. This also impacts the credibility of Scotland Yard police, as the resignations of the police was caused by either negligence in the 2009 case or corruption. David Cameron also has had contacts with various members of the Murdoch family, as had other previous high ranking MPs and Prime Ministers, and various government ministers in the United Kingdom also may be in danger of being charged due to the scandal.