Rio Tinto chief Sam Walsh to be replaced by Jean-Sébastien Jacques
Video will begin in 5 seconds. Outgoing Rio Tinto CEO's 2016 predictions In December, outgoing Rio Tinto CEO Sam Walsh, who in July will be succeeded by his head of copper and coal Jean-Sébastien Jacques, laid out his predictions for commodities markets in 2016. PT1M30S 620 349 Rio Tinto's head of copper and coal, Jean-Sébastien Jacques, has been anointed as the next chief executive of Rio Tinto, and will take the reins from incumbent Sam Walsh, who has been CEO since 2013.Mr..>> view originalAussie banks top profit pile despite capital hikes
The major banks have enjoyed big falls in funding costs until recently, but have still raised interest rates. Photo: James Davies Australia's major banks have cemented their place as the most profitable in the world after raising interest rates despite large drops in their cost of funding.Analysis by the Reserve Bank of Australia shows return on equity, a major measure of profitability, for the big four banks averaged about 15 per cent by the end of 2015, bea..>> view originalMan loses part of hand after becoming trapped in machinery at Arrium's Whyalla port
Man loses part of hand after becoming trapped in machinery at Arrium's Whyalla port Updated March 17, 2016 16:52:07 A man has lost part of his hand after becoming trapped in machinery at the Whyalla port in South Australia.The man became trapped about 8:00am. A Royal Flying Doctor Service crew and the SA Ambulance Service's emergency retrieval team were sent to the scene.The man is now in the Royal Adelaide Hospital in a stable condition.The owner of the port, Arrium, s..>> view originalUS Fed buckles on rate hike forecasts, unable to resist global dovish push
Surprise US Fed Reserve announcement The year of global policy divergence is looking shaky after the US Federal Reserve backed down on its targeted interest rate hikes, unable to resist the push for looser monetary conditions embraced by the eurozone, China and Japan.Faced with a rising currency, the Fed downgraded its interest rate guidance to just two rate rises in 2016, from the four it had tipped in December.The Australian dollar rallied to US76¢, its highest level since Jul..>> view originalAustralian dollar jumps to eight-month high despite RBA 'jawboning'
Video will begin in 5 seconds. Fed holds steady The Federal Reserve holds interest rates steady and indicates that moderate US economic growth would allow it to tighten its policy this year. PT1M5S 620 349 The Australian dollar hit another eight-month high on Thursday, shaking off central bank jaw-boning to surge on solid job numbers and US Federal Reserve hesitation.In late local trade, the Aussie was buying US75.91¢, off an intraday peak of US76.19¢, a level last seen in ea..>> view originalFairfax job cuts plan prompts mass walk out as staff 'take a stand'
Fairfax job cuts plan prompts mass walk out as staff 'take a stand' Updated March 17, 2016 18:06:17 Fairfax staff striking in solidarity with colleagues in protest at plans to cut 120 editorial jobs have said it is time to take a stand. Key points:Redundancies and cost-cutting measures to hit SMH, The Age and AFRCuts amount to one-quarter of the editorial workforce, according to MEAANews a "complete shock and a real body blow," says MEAA CEO The media firm said cuts w..>> view original
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