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"Bad Banks" in Germany

04 Jul 2009, 3:50PM

The German lower house of parliament has approved a bill that provides for the creation of "bad banks" a plan to help banks recover from the financial crisis. Read more


NZ doctors paid far less than Aussies

Doctors stethescope (Getty Images)

03 Jul 2009, 9:54AM

Senior doctors in New Zealand are paid on average 35 per cent less than their Australian counterparts, a new report says. Read more

IMF boosts Belarus loans to 3.5 billion dollars

30 Jun 2009, 12:16PM

The IMF has increased its assistance to Belarus by one billion dollars to help it weather the greater than expected impact of the financial crisis. Read more

GM drops stake in Toyota plant

30 Jun 2009, 8:30AM

General Motors has announced it will drop its ownership stake in the US assembly plant it operates jointly with Japanese rival Toyota.
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Crisis costs Aussies 36 percent of their wealth

27 Jun 2009, 2:52PM

It's been revealed that Australian households have lost 36 per cent of their financial wealth since the economic crisis began.
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'No rush' to fixed rate loans

25 Jun 2009, 5:10PM

Home owners are reportedly not being panicked into switching to fixed rate loans, despite the nation's largest home lender recently raising its standard variable mortgage rate.
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At a glance: OECD outlook for Australia

25 Jun 2009, 2:12PM

The Organisation for Economic Co-operation and Development (OECD) has given a relatively upbeat assessment of the Australian economy, but warns economic recovery is likely to be both ‘weak and fragile.’ Read more

Australia 'to recover faster than predicted'

25 Jun 2009, 7:55AM

The OECD thinks the global downturn has bottomed out, but is giving the green light to the Rudd Government to spend more and to the Reserve Bank to keep cutting interest rates. Read more

Ikea sheds 5,000 jobs worldwide

24 Jun 2009, 11:27AM

 Swedish furniture giant Ikea has cut 5,000 jobs worldwide due to the global economic crisis but expects to post record sales nonetheless, its chief told a Swedish newspaper. Read more

Madoff seeks lenient sentence

Lawyers claim convicted fraudster Bernie Madoff only has a life expectancy of 12 years (Reuters)

24 Jun 2009, 11:15AM

 A lawyer for disgraced financier Bernard Madoff has sought a sentence of 12 years or less for his aging client, who he says "has an approximate life expectancy of 13 years." Read more

Obama warns of economic pain ahead

Barack Obama has warned of more economic gloom ahead (Getty Images)

24 Jun 2009, 11:05AM

President Barack Obama has painted a bleak picture of the economy, warning unemployment will get worse, and vowing to act on climate change and health care as long-term solutions. Read more