National

  • Torrential rains hit Qld, one dead

    One woman died and troops were deployed to help thousands of people after storms and flash floods hit Queensland.

  • RBA's Stevens balanced on outlook: Swan

    Comments by Reserve Bank governor Glenn Stevens in a speech on Wednesday were balanced, federal Treasurer Wayne Swan says.

  • Sherry sets sights on market rumours

    The Rudd government is poised to toughen the penalties for spreading false information about a company.

  • Babcock sacks 850, starts fire sale to appease banks

    Babcock & Brown will retrench staff and sell assets in a last-ditch effort to stave off insolvency.

  • Green light for a deficit

    Glenn Stevens has warned that the federal government may need to take the budget into deficit to support demand.

  • Turnbull says no need for deficit

    Malcolm Turnbull says Reserve Bank Governor Glenn Stevens has sent the prime minister conflictng messages.

  • Number's up for mining, energy growth

    Capital expenditure on mining and energy projects - a major driver of economic growth in recent years - has fallen in the last six months in a sign that companies are shelving investment plans as commodity prices soften.

  • Tax Office ruling gives apiarists a case of the hives

    The Australian Taxation Office ruled yesterday that bees, being insects, were animals under the Tax Act, which means beekeepers are required to count, value and pay tax on their beekeeping businesses.

  • Toyota hits brakes on output as sales join slow lane

    Toyota Australia has confirmed it will gear down car production in the next two months and closely monitor monthly output in the early part of next year to take account of falling car sales.

  • Projects must be 40pc local: Victoria

    The Victorian government will require that projects worth more than $250 million have at least 40 per cent local content, setting a new procurement benchmark to try to boost industry and jobs.

  • Coal port rationing request

    Coalminers have asked the competition regulator that a rationing system designed to keep under control bottlenecks at the world's busiest coal port be extended for three months.

  • Gillard flags talks on CFK

    Deputy Prime Minister Julia Gillard said a second child-care provider placed in voluntary administration did not signal a wave of kindergarten closures.

  • Industry left in dark on ETS

    Trade-exposed industries have stepped up their attacks on the federal government over carbon trading, accusing it of failing to engage with their concerns and warning the proposed scheme could increase global emissions.

  • Global climate deal realistic - Treasury

    Federal Treasury has rejected claims that its climate change modelling should have considered what would happen if the world fails to reach agreement on cutting greenhouse gas emissions. Its analysis was based on a "realistic" assumption of a staged global deal, it said.

  • Private schools fear beat-ups over funding

    Private schools are resisting federal government attempts to make their funding sources more transparent because they fear the media will distort the information, a Senate inquiry has been told.

  • Razor gang with sharp eye for WA cuts

    West Australian Treasurer Troy Buswell has hinted at deeper cuts to the public sector, claiming the state's bureaucracy had been "gathering moss" under the reign of the former Labor government.

  • Free-TV fights ban on junk food ads

    The free-to-air television industry has said it should not be singled out as the culprit for rising incidence of childhood obesity through a ban on junk food advertising.

  • Briefs: Timely defence paper vital

    Importance of powers

  • Briefs

    New GM for Bell theatreThe Bell Shakespeare theatre company has appointed deputy general manager Christopher Tooher as general manager, replacing Jill Berry, who has resigned after six years in the job and 11 years with the company. Katrina Strickland

  • New law peril for franchises

    Franchises that use brand-wide promotions - where goods are sold at a certain maximum price across the chain - could face criminal prosecution for price fixing, according to competition lawyers' latest criticism of planned changes to cartel laws.

  • Reynolds re-election renews ABCC push

    The re-election of militant unionist Kevin Reynolds as boss of the Construction, Forestry, Mining and Energy Union in Western Australia will add to industry arguments for retaining the powers of the Australian Building and Construction Commission, says business.

  • Nothing dirty about 'D' word

    Glenn Stevens is not urging a return to a chronic deficit financing. Rather, the Reserve Bank governor is saying the economic slowdown could make a temporary budget deficit good macro-economic policy.

  • Depressing data could trigger faster, deeper cuts

    Pressure on the Reserve Bank of Australia to step on the monetary policy accelerator is set to intensify as evidence of a substantial economic downturn mounts.

  • Economists see red as the right response

    The idea of a first federal government budget deficit in a decade might prove controversial, but market economists agree with Reserve Bank of Australia governor Glenn Stevens that now is exactly the time to go into the red.

  • Crean seeks APEC help to wrap up Doha round

    Simon Crean says the US is significantly more engaged on this occasion.

  • Storm hits Queensland's bottom line

    The Queensland government has appointed a recovery taskforce to help rebuild Brisbane's northern suburbs after Sunday night's destructive thunderstorms, which left a damages bill of more than $100 million.

  • Tougher penalties likely

    Spreading false rumours about a company's prospects is likely to be subject to stronger sanctions under a federal government review aimed at making it easier for the corporate regulator to prosecute.

  • BAE chases share of $500m hull project

    Defence giant BAE Systems Australia has bid for a stake in $500 million in hull construction work on the Navy's $8 billion air warfare destroyer project.

  • Embracing equality pays dividends for everyone

    Companies might have all the right policies to encourage equal opportunity in their businesses but unless top management had the mindset to embrace change it was meaningless, Woodside Petroleum chief executive Don Voelte said yesterday..

  • Staying on even keel

    Prime Minister Kevin Rudd says Australia will continue to build warships like HMAS Sydney as symbols of strength and resolve to act should the time come. The Sydney lost 645 crewmen in a battle with the German raider Kormoran on November 19, 1941. Mr Rudd was speaking yesterday at the Australian War Memorial as part of national commemoration services.

AFR Market Wrap

ASX down 51pc on year

Markets: Shares down 4pc

Commodities: Crude slips 

Bassanese: Little optimism 

Currencies: $A tumbles   

Economists see red as right response

The idea of a first federal budget deficit in a decade might prove controversial, but market economists agree now is the time. Read more

All not lost if we learn these lessons

RBA governor Glenn Stevens goes in search of silver linings, and manages to find a few.

China's Hu a bull in a Latin shop

China's President, Hu Jintao, is leading scores of Chinese businessmen on a sweep through Latin America. Read more

Number's up for projects growth

Capital expenditure on mining and energy projects - a major driver of economic growth in recent years - has fallen in the last six months. Read more

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