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Iron Ore Stocks Crumble as Price Drops to Six-year Low

Posted: March 8th, 2015 | Author: | Filed under: Business News | Tags: , , , | Comments Off on Iron Ore Stocks Crumble as Price Drops to Six-year Low

Iron Ore Stocks Crumble as Price Drops to Six-year Low
Iron ore stocks have taken a beating on the share market, with the price of the commodity falling below $US60 a tonne. The benchmark price of iron ore dipped to $US59.3 a tonne overnight, hitting a fresh six-year low.

Prices for the steel making commodity have more than halved over the past year, driven by massive expansions in the Pilbara and Brazil. It has glutted the market, a situation the World Bank is predicting could last for up to two years :: Read the full article »»»»


AUSTRALIA FLUSH WITH CASH

Posted: March 30th, 2012 | Author: | Filed under: Business News | Tags: , , , | Comments Off on AUSTRALIA FLUSH WITH CASH

AUSTRALIA FLUSH WITH CASHLatest numbers from the Australian Bureau of Statistics show that job vacancy rates and business confidence are in tip-top shape, suggesting a rebound of confidence in Australian business.

Official job vacancy figures from the Bureau of Statistics show that employers want to hire more new workers, with job vacancies rising by 0.7 per cent in February, a turnaround on the previous series of declines. While more Australians are looking for work, the result suggests job creation is heading in a positive direction.

The figures come as the latest Commonwealth Bank Future Business Index jumped to 9.3 from -0.3 in September last year. The bi-annual survey of the views of more than 400 industry leaders found that confidence levels among mid-sized Australian businesses were climbing, and they were looking to expand by boosting spending and staffing in the next six months after sitting on their cash for the last six months. Read the full article »»»»