Swan to act after US rates hit zero; Health premiums poised to soar as losses mount; Rort purge culls skilled migrants; Miners and producers fall hostage to imploding demand for steel; Costly share bungle hits CBA
Swan to act after US rates hit zero
Wayne Swan said he was prepared to go beyond the Rudd Government's $22 billion of economic stimulus measures after the US central bank slashed interest rates to near zero to stave off a dramatic decline in the world's biggest economy. The Aust
Health premiums poised to soar as losses mount
Health insurance premiums are set to jump by up to 9 per cent next year after the industry regulator warned that insurers had been hit by sharply lower investment returns from the global financial crisis, soaring medical costs and the risk of falling membership. The West
Rort purge culls skilled migrants
The number of people arriving in Australia under the skilled migration scheme is likely to fall dramatically under new rules announced yesterday by the Rudd government to ensure business can maintain its access to skilled workers while cutting out migration rorts. AFR
Miners and producers fall hostage to imploding demand for steel
Australia miners and Asian steelmakers are standing on opposite edges of the same black hole - manufacturing demand for steel is collapsing so fast it is impossible for either to assess the outlook from one month to the next. The Aust
Costly share bungle hits CBA
CBA has slammed Merrill Lynch after a botched $2 billion capital raising cost the bank about $100 million and triggered an investigation by the regulator on its continuous disclosure. AFR
Chinese spy fears on broadband frontrunner
National security concerns about Chinese espionage could threaten Singtel Optus, the new frontrunner for Australia's $15 billion publicly-backed national broadband network. The Aust
THE WEST AUSTRALIAN:
Page 1: Health insurance premiums are set to jump by up to 9 per cent next year after the industry regulator warned that insurers had been hit by sharply lower investment returns from the global financial crisis, soaring medical costs and the risk of falling membership.Woolclip falls as farmers chase grain profits.
Page 6: State budget cuts to be revealed today
Page 9: Boddington population to double; Homebuyers stay on sidelines as sales hit 8-yr lows.
Page 10: Skilled migrant intake to fall; Degrees push may lead to trade skills shortage warns UnionsWA.
Page 11: Garrett dumps means testing for solar panels; WA unions say carbon target is too small.
Business
CBA scrambles to limit the damage after $2bn debacle; Veteran Eshuys to quit top role at St Barbara; AWB, ABB Grain shares slump as merger plans drop; Wellard puts $30m into big WA farm properties; You can longer afford to ignore the stockmarket; Bannerman's Namibian settlement; Mt Gibson jumps on approval of lifeline; NAB closes on top Wizard assets; BHP short on detail for $645m pulled Rio bid; CMA falls on loss warning.
