Oil prices slip as IEA cuts 2008 demand estimates
AFP - Tuesday May 13, 10:17 PM
LONDON (AFP) - World oil prices slipped on Tuesday from record heights on profit-taking as the International Energy Agency cut its forecast for growth in global demand, traders said.

St George CEO admits jobs will go
ABC - Tuesday May 13, 10:16 PM
St George Bank has acknowledged there will be job losses as a result of its merger with Westpac.

Economists salute Swan's budget
AAP - Tuesday May 13, 09:57 PM
Treasurer Wayne Swan's first budget has been well received by economists but government forecasts for slower economic growth could be too low.

Business groups give budget thumbs up
AAP - Tuesday May 13, 09:56 PM
The federal budget will help reduce interest rates, be good for the economy and increase confidence in financial markets, business groups say.

Mineral exports expected to grow
AAP - Tuesday May 13, 09:38 PM
The export of metals and minerals is expected to grow in the coming financial year as mining projects expand to capture demand from emerging economies.

French bank Credit Agricole seeks six billion euros after subprime losses
AFP - Tuesday May 13, 09:35 PM
PARIS (AFP) - French banking giant Credit Agricole said on Tuesday it was seeking 5.

Airbus announces new delays to A380 programme
AFP - Tuesday May 13, 09:19 PM
PARIS (AFP) - European aviation giant Airbus admitted on Tuesday it could not meet its delivery schedule for its troubled A380 superjumbo in a new blow to the world's biggest passenger jet.

Dollar mixed before Bernanke speech
AFP - Tuesday May 13, 09:10 PM
LONDON (AFP) - The dollar was up against the euro but down versus the yen Tuesday as the market awaited a speech by Federal Reserve chief Ben Bernanke for fresh leads on the health of the US economy, dealers said.

European stocks slip on Credit Agricole rights issue
AFP - Tuesday May 13, 09:00 PM
LONDON (AFP) - Europe's main stock markets fell on Tuesday as sentiment was dampened by news of a massive 5.9-billion-euro rights issue at French bank Credit Agricole after more heavy US subprime losses, dealers said.

Nissan Motor warns of sliding profits
AFP - Tuesday May 13, 08:55 PM
TOKYO (AFP) - Japan's Nissan Motor Co. said Tuesday it expects net profit to tumble almost 30 percent this year due to sluggish sales in maturing markets, a stronger yen and high material costs.

Govt to up intake of skilled migrants
AAP - Tuesday May 13, 07:55 PM
The federal government will increase its intake of skilled migrants next financial year in a bid to address issues with a tight labour market.

Budget papers project jobless rate rise
AAP - Tuesday May 13, 07:54 PM
Treasurer Wayne Swan has predicted unemployment will rise next financial year, as higher interest rates and global share market jitters take their toll.