Biggest drop in profits since GFC

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Company profits fell for the fourth straight quarter, dropping by 2.9 per cent in the September quarter. Profits stand 13.0 per cent lower than a year ago. Sales fell in

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Weak lending adds weight to rate cut case

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Private sector credit (lending) rose by just 0.1 per cent in October after rising by 0.3 per cent in September. Annual credit growth eased from 4.0 to 3.8 per cent

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Record resource projects: like putting man on the moon

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The Bureau of Resources and Energy Economics (BREE) has estimated that committed investment in resources and energy major projects in Australia increased to a record $268.4 billion at October 2012.

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Aussie dollar lifts in response to Chinese data

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There were further signs of recovery of the Chinese economy with the HSBC “flash” purchasing managers index rising from 49.5 to a 13-month high of 50.4 in November. The Aussie

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RBA considers further rate cuts

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The latest Reserve Bank Board minutes suggests that the decision to leave interest rates on hold in November was finely balanced as higher inflation offset a slowing domestic economy. The

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Have interest rates bottomed?

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The Reserve Bank has retired to the interest rate sidelines to assess the impact of the three rate cuts over 2012: “there are signs that easier conditions have been having

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Chinese dragon stirs again

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Chinese economic data is looking up. Retail sales in October were up 14.5 per cent on a year ago (consensus 14.0 per cent); industrial production was up 9.6 per cent

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Interest Rates: End Game or Strategic Pause?

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The Reserve Bank Board left the official cash rate at 3.25 per cent. The Bank basically indicated that it wanted to assess the impact of previous rate decisions. In addition

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Mining becomes biggest driver of the economy

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Mining has become the biggest driver of the Australian economy. The gross value added of the Mining sector was $139.95 billion in 2011/12, ahead of Financial & Insurance services at

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US Presidential election on a knife edge

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The US Presidential Election is held on Tuesday. Voting is tight with most recent polls giving both Barack Obama and Mitt Romney 48 per cent of the vote. It is

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