Economists praise Whitlam legacy

Economists have hailed Gough Whitlam as a visionary who opened Australia to the world and helped lay the foundations for future growth.
China's economic growth stagnated to 7.3 per cent last quarter, which was lower than expansion of 7.5 per cent in the previous three months.
The RBA is going to keep its interest rate at a record low of 2.5 per cent despite a booming housing market.

Cabcharge rebuffs Fleetcor approach

Cabcharge has rebuffed an approach by US fleet car giant Fleetcor about buying its taxi payments business.
Southern Cross Austereo chairman Max Moore-Wilton has called on the Abbott government to reform media ownership laws.
Fannie Mae and Freddie Mac have reached a deal that clarifies conditions in which banks could be required to buy back mortgages they sell.
Fletcher Building expects earnings to be flat in the first half of this financial year but recover in the second half.

Rising house prices lift spirits

Rising house prices are helping give consumer confidence a leg up, ANZ's chief economist says.
Newcrest Mining's gold production fell 12 per cent in the September quarter but that was offset by strong gains in cost cutting.
The Foreign Investment Review Board has approved the $1.4 billion takeover of Goodman Fielder, but the deal still needs approval from Chinese authorities.
Apple's profit rose 13 percent to $US8.5 billion ($A9.2 billion), as revenues jumped to $US42.1 billion in the fiscal fourth quarter.
ASIC has made particular mention of its focus on the financial advice industry in an outline of its priorities in the year ahead.
Media magnate Kerry Stokes has opened up about his tough upbringing and embracing multicultural Australia in a new book.
Fairfax Media and Network Ten's shares have risen on rumours the two media organisations are looking at a potential merger.
Longer lives and working careers may encourage more people to be more adventurous with their life paths, says an RBA assistant governor.

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