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Fairfax Wins Confidential Source Case

Posted: April 18th, 2013 | Author: | Filed under: Media, Print Media, World of the News | Tags: , , , , | Comments Off on Fairfax Wins Confidential Source Case

FAIRFAXThe Victorian Court of Appeal has ruled two Fairfax journalists will not be ordered to reveal their sources. Last year a magistrate summoned The Age journalists Nick McKenzie and Richard Baker to appear in the committal hearing of eight former directors of the Reserve Bank subsidiaries, Securency and Note Printing Australia.

The former executives are accused of bribing foreign officials in Indonesia, Malaysia and Vietnam to gain contracts to print banknotes between 1999 and 2004.

The journalists’ reports on the scandal triggered a police investigation into the allegations. Subpoenas were issued for Mr McKenzie and Mr Baker after a newspaper article in December 2012 reported an allegedly corrupt businessman was prepared to testify against the former directors in exchange for a leniency :: Read the full article »»»»


Australian Home Finance Growth Slows to a Snail-pace

Posted: February 10th, 2013 | Author: | Filed under: Business News | Tags: , , , , , , | Comments Off on Australian Home Finance Growth Slows to a Snail-pace

MortgageAustralia’s Reserve Bank – RBA – figures indicate that Australians are taking out home loans at the slowest annual pace ever recorded, suggesting that the property downturn may be far from over.

Figures from the RBA show total lending to the private sector grew 0.4 per cent in December, with the amount Australians borrowed rising by only 3.6 per cent in 2012. It’s not all doom – though mostly – the RBA data shows housing credit remains the most consistently robust category of borrowing, with a 4.5 per cent rise over the 12 months.

But, that annual housing credit growth rate is the slowest in RBA recorded history, admitedly the figures only go back to 1977.

Home lending growth of 0.3 per cent in December is also one of slowest monthly increases recorded :: Read the full article »»»»


Reserve Bank Governor Says Australians Too Pessimistic

Posted: June 10th, 2012 | Author: | Filed under: Business News | Tags: , , , , , , | Comments Off on Reserve Bank Governor Says Australians Too Pessimistic

Reserve Bank Governor Glenn Stevens Says Australians Too PessimisticAustralia’s Reserve Bank chief, Glenn Stevens says Australians are too pessimistic on the state of the country’s economy, Stevens reckons that we should be much more optimistic over the nations prospects.

Speaking at the American Chamber of Commerce in Australia luncheon in South Australia, Stevens described the nations better than expected growth figures as “quite respectable”. The reserve bank chief said that changes in the world economy present challenges that can easily be overcome.

Stevens said Australia is in a good position to tackle possible world recession sparked by the debt woes facing Europe. He said that economic indicators show that Australia has handled the global financial crisis of 2008 well :: Read the full article »»»»