Today's Business Headlines

CBA wary despite $4.8bn profit
The Commonwealth Bank has predicted no respite from volatile credit markets at least until 2010, while presenting a glimmer of hope that the US economy might have bottomed. The Australian

RBA tells banks: pass on rate cut
The Reserve Bank yesterday increased the pressure on the nation's banks to pass on in full any cut in official interest rates, saying they had no excuse to profiteer at the expense of customers. The Australian

Telstra investors hang up on lower $3.7b profit
Telstra has fallen short of bullish market expectations for profit growth this year, disappointing investors who had wanted to begin reaping more of the benefits of its much-lauded transformation plan. The West

Straits eyes long wait for $200m salt project
Straits Resources says it could take until early next year before the WA Government decides whether to allow the Perth miner to develop the controversial $200 million Yannarie Solar Salt project in the Exmouth Gulf. The West

Metals to make a comeback: analysts
The resources industry can sit back and cheer Australia to gold in the Olympics, confident in the knowledge that the sector will kick back into action later this year, analysts have predicted. The Australian

THE WEST AUSTRALIAN

Business: The adage that the Australian dollar goes up by the stairs but down by escalator appears to be coming true as the currency yesterday slumped to a fresh seven-month low, sparking predictions it could test US80¢ by next year amid a global economic slowdown and looming interest rate cuts.

The adage that the Australian dollar goes up by the stairs but down by escalator appears to be coming true as the currency yesterday slumped to a fresh seven-month low, sparking predictions it could test US80¢ by next year amid a global economic slowdown and looming interest rate cuts.

Telstra has fallen short of bullish market expectations for profit growth this year, disappointing investors who had wanted to begin reaping more of the benefits of its much-lauded transformation plan.

A sharemarket tip-sheet distributed by Tricom Equities has urged subscribers to sell shares in Mt Gibson Iron for as little as $1.05 -- almost half its $2.07 close

Straits Resources says it could take until early next year before the WA Government decides whether to allow the Perth miner to develop the controversial $200 million Yannarie Solar Salt project in the Exmouth Gulf.

THE AUSTRALIAN

Page 1: The RBA is increasing pressure on the nation's banks to pass on any cut in interest rates. Delta Company is to get recognition for the Battle of Long Tan. The image of Riverina town Griffith has been sullied by a number of drug arrests in relation to the world's biggest haul of ecstasy.