Money matters still taboo for women: ANZ

Financial matters remain a taboo topic for the majority of Australian women, ANZ Banking Group Ltd says.

Britain to cut Value Added Tax by 2.5%

The British government is expected to slash Value Added Tax (VAT) in an attempt to lead the nation out of the financial doldrums.

Aussie gold production at 20-year low

Australia is on track to record its lowest annual gold production in 20 years, but prices for the precious metal are at record highs, a report says.

Stocks tipped to rise on Wall St rally

The Australian stock market is expected to open stronger on Monday after a late rally on Wall Street ended yet another turbulent week on world markets.

BHP reduces production in Brazil

BHP Billiton Ltd says iron ore pellet production will be reduced at its Brazilian operations due to weak demand.

Lion Nathan seeks talks with Coca-Cola

Brewer Lion Nathan says it will seek talks with US-based The Coca-Cola Company as it continues with its near $8 billion bid for Coca-Cola Amatil.

ArcelorMittal warns of layoffs in US

ArcelorMittal, the world's largest steelmaker, is warning 2,444 employees at a steel plant in northwestern Indiana could be laid off indefinitely in January.

Worst of global crisis yet to come: IMF

The IMF's chief economist is warning the global financial crisis is set to worsen and the situation will not improve until 2010, a report says.

GM rules out sale of Opel or job cuts

General Motors will neither sack workers nor close or sell factories at its German Opel unit, the president of GM Europe has said in an interview.

GM considering options to save carmaker

Members of the General Motors board of directors are reportedly considering all options to save the ailing automaker.

Philips to lay off 1,600 workers

Dutch electronics giant Philips will cut about 5 per cent of its 32,000 strong workforce in 5 medical division worldwide, affecting 1,600 workers.

Indon bans bank boss from foreign travel

Indonesia has banned executives of ailing Bank Century, which has been bailed out by the government to save it from collapse, from travelling abroad.

GM to extend holiday shutdown

General Motors Corporation will extend its holiday shutdown or make other production cuts at five factories as it deals with a continued US vehicle sales slump.

Oil prices drift up, stay under $US50

Oil prices drifted higher but held under $US50 per barrel on Friday, hovering near multi-year lows on concerns over weakening demand and a global recession.

US, Euro shares slide on economy fears

US and European stock markets fell on Friday as early rebounds gave way to growing concerns about a grim global economic outlook.

Aussies pay now, buy later: analysts

One of the world's biggest credit card companies says Australians are borrowing wisely.

Honda to cut global output

Honda Motor said it will cut production in Japan and Europe by 61,000 vehicles, as it continues to grapple with slowing global demand.

WA uranium mining still a long way off

Claims the WA government's lifting of a ban on uranium mining could see its yellow cake being dug up within three years are unrealistic, industry sources say.

Volkswagen upbeat about India plans

Europe's largest car maker Volkswagen said it would go ahead with its investment plans in India and was optimistic that car sales would pick up, reports said.

Atlas Iron chairman removed

Atlas Iron's largest shareholder IMC Resources Investment has unseated the iron ore miners' chairman, in a move that could be the prelude to a takeover bid.

Asia, Europe stocks rebound

World stock markets have staged a turnaround, with Tokyo closing up nearly three per cent and European indices back in the black.

NZ dairy farmers facing big earnings cut

New Zealand's dairy farmers face a 24 per cent fall in payments for milk this year because of slumping world prices.

Japan holds rate unchanged at 0.3%

The Bank of Japan decided to hold its key short-term interest rate unchanged at 0.3 per cent.

Jetstar Pacific backs Vietnam fare move

Jetstar Pacific, a Vietnamese low-cost airline part-owned by Qantas, welcomed the government's decision to allow more flexible pricing on some domestic routes.

Little chance of deflation: academic

Australia has very little risk of slipping into deflation, given a sharply declining local currency and still high inflation, an expert says.

Territory Resources claws back some cash

Beleaguered miner Territory Resources says it has this month clawed back part of an outstanding loan to cash-strapped minerals sands miner Olympia Resources.

Everest Babcock & Brown plan name change

Everest Babcock & Brown has proposed changing its name to Everest Financial Group Ltd, subject to shareholder approval.

Air NZ questions ACCC decision

How come Air NZ can't cooperate with Air Canada on flights to Vancouver when Qantas can work with South African Airways on the uncompetitive Johannesburg route?

Grange receives approval for ABM merger

Grange Resources Ltd has received Foreign Investment Review Board (FIRB) approval for its merger with private iron ore miner Australian Bulk Minerals (ABM).

Chinese miner pays $299m for exploration

China Shenhua Energy, the country's largest coal miner, said it had paid $A299.9 million for a coal exploration licence in Australia.

Unemployment key to rising insolvencies

The level to which unemployment rises next year will be key determinant to whether distressed firms are able to trade their way out of trouble, an expert says.

Sims forecasts profit to rise

Sims Group expects first half net profit to increase by as much as 37 per cent as metals prices rise from their recent lows on renewed customer demand.

Babcock's credit rating hits rock bottom

Ratings agency Standard & Poor's cut its long-term credit rating on Babcock & Brown International to the lowest possible.

Icelanders in shock after global crisis

Iceland's prime minister has estimated that the aggressive expansion of the banks has resulted in a $US19 billion ($A29.83 billion) mountain of debt.

Murchison says Oakajee agreement nearer

Murchison Metals says it is close to finalising an agreement with the WA government for the iron ore miner's development of a new deepwater port at Oakajee.

ANZ drops fixed loan rates by up to 1%

ANZ Banking Group has matched National Australia Bank's (NAB) cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points.

Tower profit rises 17% to $A34.7m

Insurer and fund manager Tower posted a 17 per cent rise in full year net profit after tax to $NZ40.5 million ($A34.72 million).

Cooper to incur $19.8m hit

Oil producer Cooper Energy Ltd says the company will incur a $19.8 million write-off after withdrawing from a joint venture in offshore Indonesia.

AGL credit rating outlook revised

AGL Energy Ltd, Australia's largest energy retailer, has had its credit rating outlook upgraded to stable after the completion of an asset sale program.

Fonterra may 'write off all Sanlu stake'

Fonterra chief executive Andrew Ferrier says it looks likely the cooperative's 10,724 farmers will have to write off their entire investment in Sanlu.

AXA Asia-Pacific aiming to double income

Insurer AXA Asia Pacific Holdings is looking to double the enterprise value of its business and its annual premium income by 2012.

Rate cuts will help housing: AV Jennings

Home builder AV Jennings says recent interest rate cuts and policy intervention will help the sluggish housing market turn around by the first quarter of 2009.

Nexus won't supply storage ship for Crux

Nexus Energy Ltd has terminated an agreement for the supply of a floating production and storage ship for the Crux liquids project in Western Australia.

National Hire liking Coates integration

Equipment hire firm National Hire Group Ltd expects to achieve $30 million in synergies with Coates Hire and says the integration process is progressing well.

Fortescue shares jump over 15 per cent

Shares in Fortescue Metals Group jumped more than 15 per cent at market open after the burgeoning iron ore miner announced an increase in exports.

Telstra defends Trujillo's $13.4m pay

Telstra has defended chief executive Sol Trujillo's $13.4 million annual pay packet, saying the company performed on all financial measures.

RBA 'profitable' even with $A buying

The RBA will continue to make profit contributions to Treasury coffers, even though it has spent billions buying the struggling Australian dollar, experts say.

Two Allco funds continue trading halt

Two funds of Allco, which went into voluntary administration this month, have been granted extensions to the suspension of trading in their securities.

Gunns confident about Forestry Tasmania

Woodchipper Gunns Ltd says it has told the Tasmanian government it will not seek to renew the sovereign risk agreement for wood supply to the Bell Bay Mill.

NZ tourism still taking a hit

Another fall in the number of short term visitors to New Zealand points to growing stresses on the tourism industry as the global economy slows.

Goodman and Macquarie make Japan moves

Goodman Group and Macquarie Group Ltd have announced the establishment of two wholesale funds to invest in Japanese logistics properties.

Germany pressured to fire up economy

Pressure is piling on Germany to do more to fire up the planet's third biggest economy and contribute to a huge European stimulus package.

Switzerland cut rates on slowdown fears

Switzerland's central bank slashed key interest rates by a full percentage point, its biggest ever cut, and warned of tough times ahead.

EU clears guarantees for Fortis, Dexia

European Union regulators approved state guarantees given to Belgium's troubled lenders Fortis Bank and Dexia financial group.

Saudi prince ups stake in Citigroup

Saudi Prince Alwaleed bin Talal plans to increase his stake in Citigroup Inc to five per cent and has expressed support for the US bank's management.

US jobless claims hit '16-year high'

Initial claims for US unemployment benefits surged last week to a 16-year high, government data showed, as companies lay off workers.

UK economy falters before budget report

Britain's economy, battered by the global credit crunch and facing a recession, has suffered more bad news just days before the govt delivers a budget report.

Peugeot Citroen to slash 2,700 jobs

French carmaker PSA Peugeot Citroen has announced plans to slash 2,700 jobs as the automobile sector struggled with the global economic crisis.

Social networking can help business

The use of social networking tools such as Facebook and blogs could improve business, a report based on the opinions of senior executives shows.

AFIC had concerns so sold shares in ABC

Australian Foundation Investment Company says it sold its shares in ABC Learning Centres in 2007 because it had concerns about the sustainability of the group.