The Australian dollar was mostly flat after better than expected US data overnight and as speculation eased that the US central bank will launch a third round of economic stimulus.
US stocks soared on Tuesday as investors cheered the Federal Reserve decision to cut its key rate to near zero and its pledge of more steps to revive economic activity.
Qantas, British Airways plot $8bn merger; US officially in recession; Wesfarmers re-jigs as Tilbrook steps down; Barnett betting on Browse to anchor Kimberley LNG hub; Venture giants pull plug on clean-coal plan
03 Dec 2008
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