AuBJ – 5 November – Australian bank Westpac has warned it expects to cut more jobs as it prepares for a “challenging year” ahead. It is aiming to simplify its business to face up to slowing economic growth, weak demand for loans, low consumer confidence and a high Australian dollar. Chief ex... Read More

AuBJ – 2 November – Falling prices on imported goods, caused by the strong Australian dollar, could encourage consumers to start spending again. According to the Australian Bureau of Statistics, the price of imported goods fell by 2.3 per cent while the price of domestically produced goods rose ... Read More

AuBJ – 1 November – Building, lifestyle and electronics products company Hills Holdings is cutting jobs and scrapping product lines as it undergoes a massive restructure. Up to 300 jobs could go, mostly from the company’s Orrcon Steel business and Fielders Australia. New chief executive Ted Pr... Read More

AuBJ – 31 October – A sudden increase in building approvals has indicated that the Reserve Bank of Australia’s interest rate cuts are beginning to benefit the economy. Residential building approvals in September were 7.8 per cent higher than in the previous month, and 12.4 per cent higher than... Read More

AuBJ – 30 October – Sales of new homes have fallen for the third consecutive month to an 18-month low, according to the Housing Industry Association’s New Home Sales Report. Following a fall of 5.3 per cent in August, sales figures in September fell a further 3.7 per cent. The figures, which a... Read More

AuBJ – 29 October – British telecommunications company Vodafone plans to cut 500 office jobs in Australia to help revive its ailing business here. Customers have left the company in their droves in recent years after losing patience with recurrent network problems. The affected staff, many of th... Read More

AuBJ – 26 October – World’s largest mining company BHP Billiton has axed up to 100 support staff at its nickel operations in Western Australia. Jobs in accounting, human resources and other support roles at Nickel West were cut in response to challenging market conditions. These redundancies, ... Read More

AuBJ – 24 October – The carbon tax appears to have added to inflation this quarter but the Australian Bureau of Statistics (ABS) cannot confirm by how much. Economists estimate that it has added up to 0.4 per cent to the consumer price index (CPI), a key measure of inflation. Inflation rose by m... Read More

AuBJ – 23 October – Australian businesses are more confident than those in the US, UK or China despite various sectors showing signs of decline this year, according to a survey. The Regus Business Confidence Index showed that confidence among Australian businesses has increased by two points ove... Read More

AuBJ – 22 October – Almost 3,000 workers have voted to accept the latest proposed enterprise agreement with BHP Billiton Mitsubishi Alliance (BMA), ending 24 months of strikes. The agreement includes protections on safety, housing and rostering, and boosts superannuation contributions. Around 60... Read More

AuBJ – 19 October – Mining major Rio Tinto is planning to cut costs and jobs in Europe by 30 per cent before the end of 2013, company executives have told a union official. These further cuts follow the slashing of 220 jobs in Europe last year. Veronique Roche, a representative of the CFE-CGC un... Read More

AuBJ – 18 October – Woolworths’ profits rose 3.4 per cent in the first quarter of the financial year, suggesting that the retail sector is pulling out of its slump. The Australian supermarket reported sales of $12.99 billion for the 14 weeks to the end of September, up from $12.56 billion in t... Read More

AuBJ – 17 October – Growth in the global iron ore market will slow to 650 million tonnes this decade from 800 million in the last, according to BHP Billiton chief executive Marius Kloppers. Speaking at the Brisbane Mining Club, he also said commodity prices would never again reach the record ... Read More

AuBJ – 16 October – Quarterly output from mines in the Pilbara region rose five per cent over last year’s figures to 63 million tonnes, setting a new record. Iron ore miner Rio Tinto also defied recent negativity over mining by reporting a five per cent rise in global production to 67 mill... Read More

AuBJ – 15 October – This Christmas looks likely to be another cold one for retailers as Australian consumers remain cautious about spending money. Research conducted for business information firm Dun & Bradstreet showed that almost one in three 18-64 year-olds were more likely to save than ... Read More

AuBJ – 12 October – Private equity firm TPG has withdrawn its $694.5 million takeover offer for struggling surf wear retailer Billabong, causing its share price to nose dive. Prior to pulling out, TPG had been negotiating a $1.45 a share takeover offer with Billabong. A source close to TPG told ... Read More