ASX tumbles 1.6pc as dollar retreats | F & F I N | The Australian Business Briefing

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ASX tumbles 1.6pc as dollar retreats
Stocks Enda Curran STOCKS closed deep in the red today as the Australian dollar shed more than US1c amid uncertainty over the size of Ireland's bailout.
 
'Yuan should become reserve currency'
yuan Dinny McMahon THE yuan should become a reserve currency, an ex-central banker said, and the IMF should now include it in its basket of currencies.
 
EU plans up to $138bn Ireland bailout
Aus Bus Pix Ireland Dublin bank crisis UPDATE: Marcus Walker, Patrick McGroarty and Charles Forelle SENIOR European officials have laid the groundwork for a bailout of Ireland that could reach 100 billion euros ($138 billion).
 
Qantas A380s may idle for weeks
Qantas UPDATE: Steve Creedy, Aviation writer QANTAS may wait till December before its Airbus A380s fly again, while Singapore Airlines has returned its 11-strong fleet to service.
 
WAN posts 2.6pc 1Q net profit lift
WAN chief Chris Wharton AAP WEST Australian Newspapers Holdings has reported a 2.6 per cent rise in first quarter net profit as advertising revenue increased.
 
Microsoft dismisses break-up calls
Microsoft Jeanette Borzo MICROSOFT, which once weathered government pressure to break up, now faces similar questions from a new quarter: its shareholders.
 
Rothschild takes $3bn bet on coal
Coal Robin Pagnamenta NAT Rothschild has joined forces with one of Indonesia's most powerful men to create a coalmining group to take advantage of Chinese demand.
 
ASIC pushes for better CFD details
ASIC Drew Cratchley ASIC has proposed improving the quality of information given to retail investors about risks involving contracts for difference (CFDs).
 
Financial Markets
ASX tumbles 1.6pc as dollar retreats
Stocks Enda Curran STOCKS closed deep in the red today as the Australian dollar shed more than US1c amid uncertainty over the size of Ireland's bailout.
 
EU plans up to $138bn Ireland bailout
Shares, dollar slump on global fears
 
Financial Markets Coverage
 
Mining & Energy
Chinese investors sway Mt Gibson vote
Neil Hamilton David Fickling MOUNT Gibson shareholders went against the wishes of its retiring chairman and voted down the re-appointment of one of the directors.
 
Potash Corp plans $US2bn buyback
Change of guard at Sphere Minerals
 
More Mining & Energy Coverag

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