As treasure Wayne Swan prepares to hand down the government’s mid-year economic and fiscal outlook today, BHP executive Marius Kloppers warned the world was “entering into the next phase of this whole contagion”. He was joined by Rio Tinto’s chief executive Tom Albanese who said that while conditions had not suddenly worsened, the
Rio Tinto chairman Jan du Piessis said on Monday the Chinese economy was slowing visibly, but strong domestic demand and manageable debt levels should make the Asian powerhouse’s economy resilient to a “sharp correction” in OECD economies.
The Holden Commodore, being one of Australia’s most popular cars has been sold for over 15 years. There are now claims that there will be an end to the local production of the cars with designs emerging overseas in the future. The move will see a loss of
The launch of Chinese-made Foton ute in Australia has been canned due to quality concerns and pricing arguments. Foton utes were due to go on sale here by the end of 2011, but the brand’s Australia importer WMC Group says it cannot go ahead with the
Despite the hype surrounding the mining boom, there is a growing concern that Australia is quickly becoming unattractive to investors. Investments, resource businesses and jobs are increasingly moving offshore. Australians for Northern Development to Economic
Amidst global market chaos and the high Australian dollar, Nissan has opted to manufacture accessories for a number of its 4WD and passenger vehicles at a facility in Victoria, providing a much needed boost for Australia’s manufacturing industry. The
A new parliamentary group has formed to protect local manufacturing jobs as BlueScope Steel and OneSteel pursue job cuts in response to the increasingly difficult financial climate. OneSteel yesterday announced it would axe at least 400 manufacturing jobs.