Ford will close two factories and end production in Australia by 2016 due to rising manufacturing costs and falling sales. More
Australia StocksThe ASX Limited (ASX) is Australia’s primary exchange and ranks in the top 10 largest in the world. Australia’s economy is one of the largest capitalist economies in the world and greatly depends on its service and mining industries. Australia also heavily depends on its trade with China.
As Australia continues its recession-free streak of over 20 years, CommSec chief economist Craig James said, “Australia has a Goldilocks economy – not too hot, not too cold, in fact just about right.”
When investors were looking for emerging markets that were still enjoying growth during the massive financial crisis and recession of the west, many overlooked the gem down under that is Australia. The Pacific nation enjoyed growth in every quarter except for one in the past few years, avoiding the technical definition of a recession. More
US coal giant Peabody Energy Corp. (NYSE: BTU) got some help today with its bid for Australia coal miner Macarthur Coal. Macarthur has dropped its previously agreed merger with another Aussie coal company, Gloucester Coal. Peabody's offer would have been withdrawn if the Macarthur-Gloucester tie-up had gone through. More
Australia leads the world in coal exports, with some 261 million metric tons shipped in fiscal year 2009. The country produces two main types of coal: black coal, much of which is exported; and brown coal, most of which is burned in Australia to generate electricity. Stocks involved include Peabody Energy (BTU), Yanzhou Coal (YZC) and CNOOC Ltd. (CEO). More