FRANKFURT (AFP) – German luxury car maker Porsche said Tuesday that its first-half profit leapt fourfold owing to its stake in Volkswagen, but that sales were down and that it could not give a full-year forecast.
March 31, 2009
Japan unemployment hits three-year high
TOKYO (AFP) – Japan’s unemployment rate hit a three-year high of 4.
Oil prices recover slightly, remain under & #36;50
LONDON (AFP) – Oil prices recovered a little on Tuesday but remained below 50 dollars a barrel amid concerns for the global economy and the struggling auto sector, traders said.
Swan green-lights Chinese Fortescue bid
Federal Treasurer Wayne Swan has approved a deal which will allow a Chinese state-owned company to take an 18 per cent stake in mining company Fortescue Metals.
RBA says more rate cuts if needed
The Reserve Bank of Australia sees the economy contracting in 2009, as the nation plunges into recession, and has left the door open for more rate cuts.
Dollar higher as investors consolidate
THE dollar was higher at noon as investors consolidated their positions ahead of key economic data events later in the week.
Shares lower at noon
THE share market outperformed its US counterparts during morning trade, losing just 0.4 per cent as financial stocks gave up gains from last week’s market rally.
Shares lower on Wall St slump
THE share market has opened lower after US stocks fell on renewed concern about the global economy.
Macquarie cuts exec bonuses
MACQUARIE Group will cut cash bonuses paid to its senior executives to fit with global remuneration trends.
GM boss to pocket $29m payout
GENERAL Motors boss Rick Wagoner will leave the company with around $US20 million ($29 million) in retirement benefits and other compensation.