Posted: March 25th, 2012 | Author: Diana Detaux | Filed under: Business News, Socially Engineered, They Said What | Tags: Australian Mining Magnate, Business News, Central Intelligence Agency, CIA, Clive Palmer, Greenpeace, Liberal Party, Queensland Coal Miner | Comments Off on Australian Billionaire Clive Palmer Claims Green Groups Funded by CIA
Australian mining magnate Clive Palmer has outlandishly accused the United States Government of funding environmental group Greenpeace via the CIA to undermine Australia’s coal mining sector. Palmer made the extraordinary claim over Greenpeace’s plan to use the court system to tie up coal mining applications.
Palmer is apparently angry at Greenpeace’s plan to use lawyers to thwart future coal mining projects and claims funding is coming from US environmental charity the Rockefeller Foundation. He alleges it is funded by the CIA and says it is trying to harm Australia’s industry and help American interests.
Palmer referred to a paper produced by environmental group Greenpeace which calls for action to stop the expansion of the Queensland coal industry. Greenpeace’s plans were leaked to the media earlier this month as it organises a campaign to raise $6 million to fund legal battles against controversial coal mining projects across Australia :: Read the full article »»»»
Posted: January 16th, 2012 | Author: Michael Courtenay | Filed under: China, News | Tags: 2012 Economic Outlook, Business Economics and Finance, Business News, china, Inflation Eases, Manufacturing Steadies, Surplus Shrinks | Comments Off on China 2012: Inflation Eases, Surplus Shrinks, Manufacturing Steadies, GDP Strong!?
China’s outlook for 2012 is positive if not slightly dulled, as the dust settle from the previous two years, China should keep a good pace toward reaching it’s goal as the worlds largest economy.
Currently the world’s second-largest economy, China is forecasted to grow at 9 percent throughout 2012. Due to its export-oriented economy, China is affected by an economic slowdown in its key trading partners—Europe and to some extent the United States.
The slowdown in the Chinese growth is also partly policy driven, as the People’s Bank of China is expected to further tighten its monetary policy—particularly its foreign exchange rate policy to keep inflation under wrap.
Other challenges for China include policies to disincentivize domestic savings (such as creating a welfare state) and further rely on domestic demand for growth.
Finally, if the tightening regime continues it will help keep the dollar’s value low and rebalance trade between the U.S. and China :: Read the full article »»»»
Posted: January 12th, 2012 | Author: M.Aaron Silverman | Filed under: Business News | Tags: australia, Auto Maker, Auto News, bailout, Business News, Co-Investment, Ford, Ford Australia, General Motors, General Motors Australia, gm, Grilled, Holden, Motoring News | Comments Off on The High Cost of Keeping Auto Makers Local
Australia: Sales of the Australian made large cars – Holden Commodore and Ford Falcon – have dropped alarmingly in recent years. The Commodore’s 15-year run as Australia’s best-selling vehicle was ended abruptly in 2011 by the Japanese manufactured Mazda3, while Ford Falcon sales plummeted to fewer than 19,000 units in 2011. So Exactly How Much Does it Cost to Keep Auto Makers in Australia? Between $100 and $200 Million!? Holden says it is getting closer to announcing co-investment from the Federal Government and parent company General Motors as it looks to secure the local manufacturing of the Cruze and Commodore beyond 2018. Ford has announced a fresh $103 million investment for it’s Falcon range of large car and Territory SUV, though the future of the Australian-built vehicles is still guaranteed only until the end of 2016. Australia’s Minister for Manufacturing, Kim Carr, and South Australian Premier Jay Weatherill have been in talks with GM at this week’s 2012 Detroit motor show as part of a political delegation seeking future support for the Australian car industry.State and federal governments could be forced to pay up to $200 million to keep Holden factories in Australia, a workforce analyst said. Both the federal and South Australian governments have indicated they will pay Holden’s parent company General Motors a “substantial sum” to prevent manufacturing from being moved offshore. Holden wasn’t able to announce its own confirmed co-investment strategy but the car maker’s managing director, Mike Devereux, said parties are working towards an agreement. Read the full article »»»»
Posted: January 10th, 2012 | Author: Michael Courtenay | Filed under: Business News | Tags: Business Economics and Finance, Business News, Christmas Retail Sales, November Retail Sales, Retail Sales, US Retail Sales | Comments Off on Retail Sales Remain in the Doldrums
Australian retail sales were flat in November, falling short of expectations, despite the Reserve Bank cutting interest rates for the first time in 2.5 years that month. Australian Bureau of Statistics figures for the month show retail turnover was unchanged on a seasonally adjusted basis at $20.93 million. The result was well below economists’ expectations of a rise of 0.4 per cent for the period, extending a downward trend in the sector that began in August.
There was an increase of 0.4 per cent in the category that includes books and newspapers, sports goods and pharmaceuticals and cosmetics, and a rise of 0.1 per cent in cafes and restaurants. Sales of food and household goods remained unchanged, but turnover fell 0.4 per cent in clothing and footwear and 0.1 per cent in department stores.
In the U.S. Bloomberg is reporting a similarly flat November: Retail sales rose in November at the slowest pace in five months, indicating American consumers were trying to live within their means heading into the holiday shopping season as wages dropped. The 0.2 percent gain in purchases fell short of the 0.6 percent median forecast of economists surveyed by Bloomberg News and followed increases in the prior two months that were larger than previously estimated, according to data from the Commerce Department today in Washington. Other reports showed inventories climbed in October and job openings fell. Read the full article »»»»
Posted: December 17th, 2011 | Author: Michael Courtenay | Filed under: Business News, Socially Engineered, Standout | Tags: Anatoly Chubais, Barack Obama, Bolshevik Revolution, Business News, Dmitry Medvedev, Standout, World News, World Trade Organisation, WTO | Comments Off on Russia Joins World Trade Organisation
After 18 years of negotiations Russia has been approved for membership in the World Trade Organisation – WTO. Russia is the largest economy in the world that was not a part of the WTO. Members of the organisation have finally agreed to its accession. Talks on joining the World Trade Organisation have dragged on for 18 years. Russia’s bid for entry had been held up by WTO member Georgia since the two countries fought a war in 2008. Russia hopes to boost exports of minerals, but a large number of domestic industries, such as car makers, will face new competition.
Posted: November 19th, 2011 | Author: Michael Courtenay | Filed under: Blip, Hard Pill to Swallow, Media, News, Television | Tags: australia, Business News, Channel Nine, Indeep Media, Media, Television, Television Network | Comments Off on Television Network on the Brink: Nine Networks Hard Pill
Australia: The owners of television network Nine Entertainment are meeting bankers to seek more time to pay off debts of more than $2.7 billion. Media analysts predict the owners, private equity firm CVC Asia Pacific, will get short shrift, which means the network is one step closer to a crisis not seen since entrepreneur Alan Bond took Nine to the brink of financial ruin. Shareholder activist Stephen Mayne says TV network owners have a habit of borrowing too much money. That, in hindsight, seems to be the problem besetting Nine. A few weeks ago Channel Seven owner Kerry Stokes was predicting that within a year the business would be owned by the banks. Media analyst Roger Coleman from CCZ Equities agrees, saying there have simply been too many lean years in the business cycle for CVC. Nine is hoping for a two-year extension of the debts, but Mr Coleman says it is unlikely given the current uncertain economic climate. He says while there are some assets that could be sold, including Ticketek and Acer Arena, CVC would have to keep the media businesses – website NineMSN, magazine publisher ACP and Channel Nine – together. READ MORE