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Feb 13, 2012

Financial and Forex Info News | The Australian Business Briefing Update: Bank funding costs 'much higher'




Bank funding costs 'much higher'
Geoffrey Rogow THE cost of funding for Australia's banks has grown considerably in the last year due to the crisis in Europe, says the RBA.

Italy, Spain, Portugal downgraded
Drew FitzGerald and Ainsley Thomson MOODY'S downgraded six European nations and warned that its top ratings on Austria, France and the UK could be at risk.

Gay to fight insider trading charges
JOHN Gay, the former chairman of Tasmanian timber giant Gunns, has pleaded not guilty to two charges of insider trading.

EU worry drags shares lower
Sarah Turner AUSTRALIAN shares slid deeper into the red this afternoon, with investors still on tenterhooks over Greece’s ability to avoid default.

BHP, Rio pour $US4bn into copper
Robb M. Stewart BHP Billiton and Rio Tinto today laid out plans to invest $US4 billion to boost copper output at the joint-venture Escondida mine.

Europe progress lifts confidence
Geoffrey Rogow BUSINESS confidence grew slightly in January as anxiety over Europe receded and the effects of the RBA's rate cuts kicked in.

Apple shares top $US500
APPLE shares surged past $US500 each for the first time on Wall Street overnight, powered by reports a new iPad may be unveiled next month.

Obama moots gold production tax
Tennille Tracy THE Obama administration is seeking royalties on the production of gold, silver and copper in the US.


Financial Markets

EU worry drags shares lower
Sarah Turner AUSTRALIAN shares slid deeper into the red this afternoon, with investors still on tenterhooks over Greece’s ability to avoid default.

Shares slip on Greek turmoil
Wall Street gains on Greek deal


Financial Markets Coverage



Mining & Energy

BHP, Rio pour $US4bn into copper
Robb M. Stewart BHP Billiton and Rio Tinto today laid out plans to invest $US4 billion to boost copper output at the joint-venture Escondida mine.

No new investment: Petrobras CEO
Western meltdown on nickel price


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2012-02-14 11:58:00.0 House of Representatives
2012-02-14 11:52:36.0 STW profit up 6 per cent
2012-02-14 11:41:16.0 BHP, Rio pour $US4bn into copper
2012-02-14 11:35:00.0 BT Financial Group's 3 Minute Mar...


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