28楼
the third plenum of the Eighteen Party Congress 十八界三中全会
falls short of 低于, 不满足
communiqué公报
square with 与…相符
skewed不对称的, 斜的
upbeat 积极乐观的
scramble争夺,抢夺
apparatus器械, 机构
laud 称赞,赞美
vex使烦恼, 长期争论
espionage 间谍活动
29楼
out of the question 不可能的
buoy振奋
sentiment情绪
spruiki 当众滔滔不绝地讲话
The Australian Competition and Consumer Commission says price-fixing activities by Japanese auto parts makers have pushed up the cost of cars in Australia. The comments come after the U-S Justice department announced that nine Japanese car parts firms conspired to fix the prices of more than 30 products sold to many of the world's largest car makers. Australian authorities are now investigating to what extent consumers here have been affected by the conspiracy.
MANDIE SAMI: US officials say more than 25 million cars purchased by American consumers have been affected by the illegal conduct.
The Australian Competition and Consumer Commission was involved in the investigation. The ACCC chairman Rod Sims says it's possible that Australian car manufacturers have also been affected by the conspiracy.
ROD SIMS: We're very keen to make sure that evidence is not destroyed, that people aren't tipped off at the wrong time, so it really involves both co-ordination of investigations and exchange of information which was very helpful on all sides.
MANDIE SAMI: Mr Sims says the ACCC has taken action against two Japanese parts makers and other companies are under investigation.
ROD SIMS: We instituted proceedings late last year against Yazaki essentially for, we were alleging price-fixing - I mean this is still before the court so I've got to be careful. These are allegations we're making against Yazaki in terms of price-fixing so for wire harnesses, for Toyota cars.
We also instituted proceedings this year for a number of Japanese companies in relation to ball bearings , where again it involves price-fixing behaviour for ball bearings, and we have a couple more investigations underway.
MANDIE SAMI: The Federation of Automotive Products Manufacturers is the peak body representing the interests of the Australian car component sector.
Its chief executive, Richard Reilly, says he doesn't think Australian companies are involved in price-fixing.
RICHARD REILLY: I'd be very surprised or enormously surprised if there was any sort of widespread collusion going on within the Australian sector. I don't know who the ACCC is investigating, I've got no transparency on that and we'll just have to wait and see what their investigations come up with in due course when they're made public.
MANDIE SAMI: The executive director of the Australian Automobile Association, Andrew McKellar, says he expects the ACCC to impose strong penalties on those found to be acting illegally.
ANDREW MCKELLAR: These are very shady dealings and I think the great concern is that whenever there is this sort of cartel behaviour by big businesses, it's the consumer who loses out, so what we are looking for is certainly tough action by the ACCC, we're pleased that they're part of a global investigation and that that investigation is now delivering results and we do want to see action taken against those companies where there's any evidence that Australian consumers have been expected to pay more for cars than they otherwise should have done.
MANDIE SAMI: The US attorney-general Eric Holder says nine companies based in Japan have already admitted to price-fixing and agreed to pay huge fines.
ERIC HOLDER: As a result of these conspiracies, Americans paid more for their cars. And American companies such as Chrysler, Ford and General Motors, as well as US subsidiaries of Honda, Mazda, Mitsubishi, Nissan, Subaru and Toyota, were victims of these illegal cartels.
MANDIE SAMI: Mr Holder says this is part of a larger investigation by the Department of Justice into the car industry.
ERIC HOLDER: Our work is not yet done. We will continue to check under every hood and kick every tyre to make sure that we put an end to this illegal and destructive conduct.
MANDIE SAMI: The US deputy assistant attorney-general, Scott Hammond, has revealed which companies have been charged.
SCOTT HAMMOND: They are Hitachi Automotive Systems, Mitsubishi Electric and Mitsubishi Heavy Industries, Mitsuba, Jtekt, NSK, T.RAD, Valeo Japan and Yamashita Rubber.
MANDIE SAMI: Prices have been fixed for parts that include seat belts, radiators, windshield wipers, air-conditioning systems, and power steering components.
The Australian Automobile Association's Andrew McKellar is urging officials from Australian car companies to come forward if they think they've been affected.
ANDREW MCKELLAR: They do have an obligation to provide that information. At the end of the day people have brought vehicles from these companies in good faith, if they've been disadvantaged as a result of this sort of criminal behaviour, then I expect that they should level with their customers and if there's evidence that warrants prosecution or penalties in Australia, then I would expect that that should occur.
PETER LLOYD: That's the Australian Automobile Association's Andrew McKellar ending that report from Mandie Sami.
US Treasury warns debt stoush (斗争)could spark(触发) financial crisis 04-10-2013 http://www.abc.net.au/news/2013- ... could-spark/4999350
The US Treasury is warning a deadlock(僵局) over America's $17 trillion debt ceiling could have catastrophic(灾难性的) consequences. Treasury says a failure to raise the debt ceiling could see America default on its debts for the first time ever. It also warns a default(违约,不是默认的意思) will not only hurt America's economic recovery, but also put the country back into a deep recession.
PETER LLOYD: But first, with the budget impasse(僵局,和deadlock类似) in Washington at a stalemate(也是僵局), the powerful US Treasury department is warning that another deadlock could have "catastrophic consequences" for the world.
Treasury says a failure to raise America's $17 trillion debt ceiling could see the US default on its debt for the first time ever.
The prospect(前景) of a US default, in addition to the partial government shutdown, is unsettling financial markets after Treasury warned it would put America back into a deep recession.
Here's our business editor Peter Ryan.
PETER RYAN: It's a six page document titled "The Potential Macroeconomic Effect of Debt Ceiling Brinkmanship(边缘政策)", but it's not the typical eye-glazingly(令人目光呆滞) beige(米色) tome(巨著) you'd expect from the US Treasury.
The tone is dire(可怕的) right from the opening paragraph, when Treasury warns a US default would be unprecedented(空前的)and potentially "catastrophic".
EXTRACT FROM US TREASURY DOCUMENT: Not only might the economic consequences of default be profound, those consequences - including high interest rates, reduced investment, higher debt payments, and slow economic growth - could last for more than a generation.
Many private-sector analysts believe that would lead to events of the magnitude(重大) of late 2008 or worse, and the result then was a recession more severe than any seen since the Great Depression.
PETER RYAN: The warning was enough for the managing director of the International Monetary Fund, Christine Lagarde, to also predict catastrophic consequences - and she's urging the US Congress to come to its senses.
CHRISTINE LAGARDE: The government shutdown is bad enough, but failure to raise the debt ceiling would be far worse and could very seriously damage not only the US economy but also the entire global economy.
You know, people around the world are confused; they're bemused(困惑的), but they're certainly not amused by what is happening in this country because it will affect the global economy if it were to materialise.
PETER RYAN: The US Treasury delivered a similar though less dramatic warning two years ago when the debt ceiling was last in the balance.
Although a deal was struck a minute before midnight, the stoush and reputational damage was enough for the ratings agency Standard & Poor's to remove America's AAA credit rating.
Professor Jeffrey Frankel of Harvard University and a former advisor to president Bill Clinton says the threat of catastrophic global fallout(附带后果) is real.
JEFFREY FRANKEL: It would mean that the US would default on obligations, and there are some who cling to(坚持) the idea well, maybe we'd have enough tax revenue still coming in that we could service the Treasury debt, but it would still mean defaulting on other obligations. It would be a very rude shock.
PETER RYAN: Professor Frankel says an even greater threat is the potential damage a debt deadlock could do to the perceived credibility and safety of the US currency and US Treasury bonds which are regarded as rolled gold.
JEFFREY FRANKEL: You know we're not just any country. The US Treasury bill market is still the kind of foundation of the world economy. The dollar for better or worse is still the preferred international currency and the US Treasury bill market is still thought to be the most liquid and trustworthy.
And when there is a sign of uncertainty in the world, the safe haven is US Treasury bills. But if that safe haven no longer exists, that could cause a financial crisis worse than we saw five years ago.
PETER RYAN: Wall Street ended 0.9 of 1 percent weaker on jitters(振动)caused by the Treasury warning, and the uncertainty also saw Europe also close in the red.
And there are two signals that investors are bracing for bad news. The cost of insuring debt on 10 year Treasury bonds has risen to an eight month high. And the Volatility Index in Chicago is moving higher - though nowhere near the surge seen in late 2011 when the debt ceiling impasse was last on the radar.
Brenda Kelly of IG Markets says financial markets are edgy, but she also believes they're not worried enough.
BRENDA KELLY: I think there is a certain amount of complacency(自满) in the market that is probably a little bit misplaced. Clearly the US is such a powerhouse of the world economy, and any sort of pull-back in that will have ripple(使泛起涟漪)effects throughout the world.
What we have been noting today though is the fact that the UK markets did do reasonably well - mainly owing to better than expected data from China.
Nevertheless, as soon as the US opened it did take a little bit of a turn to the worst and as this government shutdown continues, we can expect to see a certain amount of uncertainty, and that will more than likely dent(削弱) investor sentiment(情绪) further.
PETER RYAN: Australian investors are also moving to the sidelines and the All Ordinaries Index was 0.4 of 1 per cent weaker in late morning trade. The Australian dollar is back up to 94.2 US cents after the greenback(美钞) fell to an eight month low.
Given the potentially toxic(有毒的) combination of the US government shutdown and warnings that an unprecedented debt default presents a real and present danger - not just to the United States, but to the world. 作者: MICHELLE07 时间: 4-10-2013 23:20 本帖最后由 格菲 于 27-10-2013 21:50 编辑
10-10-2013 Baby boomer retirement helps keep unemployment down http://www.abc.net.au/news/2013- ... oyment-down/5015068
Australia's unemployment rate has fallen for the first time this year, easing from 5.8 to 5.6 per cent in September. The decline was mainly driven by a slide in workforce participation, which many analysts see as a sign that discouraged jobseekers have given up. However, some economists and a leading demographer(人口统计学家) says falling participation has more to do with the baby boomer retirement wave than the discouraged jobseeker.
相比人们退出找工市场,婴儿潮退休是失业率下降的主要原因.
DAVID MARK: It's said new governments get a political honeymoon period. The Coalition seems to be getting an economic honeymoon to match.
The unemployment rate has been slowly but steadily rising since late last year, but the latest Bureau of Statistics figures show a surprise drop in joblessness last month.
The Government isn't claiming any credit for the fall and has instead joined many economists who warn that the good headline figure masks weaker details.
But some analysts say the imminent(即将发生的) retirement of the baby boomers is likely to help put a lid on the unemployment rate for at least the next decade.
Business reporter Michael Janda has more.
MICHAEL JANDA: The unemployment rate's been on a relentless(残酷的) march higher over the past year, rising from a low of 5.1 per cent last August to a high of 5.8 per cent in August this year.
But the Bureau of Statistics' official estimates for September have halted(停止) that trend, with unemployment falling to 5.6 per cent.
The more stable and statistically reliable trend figure remained stuck at 5.7 per cent, but ANZ's head of Australian economics, Justin Fabo, says it's a still a positive result.
JUSTIN FABO: We've seen job ads and a couple of other measures, actually, just improve a tad(少量) in the last couple of months. And normally that would be consistent with, at least, a stabilisation in the unemployment rate. And I guess that's what we've actually seen in today's numbers.
MICHAEL JANDA: The new Minister for Employment, Eric Abetz, also welcomes the latest jobs number but sounded a note of caution about the figures.
ERIC ABETZ: Clearly underemployment is still a major problem. And there is also some discouragement amongst job seekers, and it appears that some people have decided to no longer look for work.
MICHAEL JANDA: Senator Abetz is referring to a fall in the participation rate: that's the proportion of people aged over 15 in work or looking for it.
The participation rate for September came in at 64.9 per cent, the lowest in almost seven years.
Many economists view it as a sign that jobseekers have given up. But ANZ's Justin Fabo says his research suggests the falling participation rate has more to do with baby boomers beginning to retire.
JUSTIN FABO: The participation rate rose very sharply in Australia up to the Global Financial Crisis. Since then it's fallen. But a large part of the reason for why it's fallen is the aging of the population.
So when you strip out(剥离) those people who are aged over 65 - and not many of work - when you strip them out, the participation rate's actually increased a little bit over the past year.
MICHAEL JANDA: Demographer Peter McDonald from the Australian National University says that trend is only going to strengthen.
PETER MCDONALD: It's inevitable over the next decade that the participation rate in Australia will fall because the baby boomers are such a large cohort(部队)compared to those before them and they will be retiring over the next decade and we are seeing that effect now.
MICHAEL JANDA: Professor McDonald says boomers are pulling the participation rate down, even though more of them are working for longer than older workers used to.
PETER MCDONALD: Older people are staying in the labour force longer. Quite substantial increases in the age-specific participation rate at older ages, but not enough to offset the numbers retiring.
MICHAEL JANDA: He says women in particular are staying in the workforce much longer than they used to.
PETER MCDONALD: For women aged 60 to 64, the participation rate has doubled in just a decade from about 25 per cent to about 50 per cent. So it's a very substantial increase.
MICHAEL JANDA: But the dramatic gains in overall female workforce participation made in the 1980s slowed down dramatically in the 90s and 2000s. And more young people are also delaying their entry into full-time work by studying.
Professor McDonald says that leaves migrants propping up(支持,有利于) the participation rate.
PETER MCDONALD: Migrants are more and more likely to be employed quickly. Mainly because they're people who've come into Australia on a temporary basis, have got a job in Australia, and then, of course, when they get their permanent residence they're already working. So participation rates for migrants have risen quite a bit, probably over the last five years.
MICHAEL JANDA: Senator Abetz says government incentives to employ older workers and a suite of other measures should boost employment growth.
ERIC ABETZ: We want to get rid of the carbon tax, the mining tax, reintroduce the Australian Building and Construction Commission, provide a bit more flexibility in workplace relations. So we do have a suite of policies that we announced, that the Australian people embraced, and we look forward to being able to implement them to allow there to be employment growth in our country.
MICHAEL JANDA: But he isn't promising instant results.
ERIC ABETZ: It will take some time before the measures we as a new Government seek to introduce wash through the economy and then into new job opportunities.
DAVID MARK: That's the Employment Minister, Eric Abetz, ending that story by Michael Janda. 作者: 孤独马夫 时间: 10-10-2013 22:52
18-10-2013 RBA says it may be powerless to stop Aussie dollar's rise http://www.abc.net.au/news/2013- ... stop-aussie/5032604
美国违债的危机总算勉强过去。虽然政策制订者考虑过或有方案但真正的后果谁也不知道。僵局打破的结果使美元跌落,澳元相应回升。澳元普遍被认为是高估了。储行官员没有透露如果澳元持续上升银行能有什么措施,但认为更低的汇率有利于带动能源经济。
虽然澳元走强给澳洲经济带来压力,就全世界来说是躲过了美国违债一劫。不排除低利率会引起将来的高通胀,目前看起来还好,从长期来说,取决于央行如何应对。
The Reserve Bank Governor, Glenn Stevens, says the Australian dollar is overvalued. He'd like it to fall but there may be nothing he can to do make it happen. Mr Stevens says the world also narrowly escaped a US debt ceiling disaster, and he hopes lawmakers there do not dice骰子 with deadlines again.
PETER LLOYD: The Reserve Bank Governor Glenn Stevens has spoken about the debt ceiling crisis just averted(避免) in the United States.
Mr Stevens revealed that policymakers here had made contingency plans in case of a US default. But it was a hedging moment, as they really had no idea how bad the fallout(附带后果) could be.
One negative outcome of the US political standoff(僵局)for Australia has been a fall in the greenback(美钞) and consequent rise in the Australian dollar.
But Mr Stevens says he's not sure the RBA can do much more to lower the dollar from its lofty高耸的 levels.
Business reporter Michael Janda was at the speech and has this report.
MICHAEL JANDA: Every time the Reserve Bank Governor makes a public appearance, bankers, borrowers and the media try and understand the world according to Glenn.
Generally it's like trying to divine(探测) water(试水), and it looked like it was going to be the same today at a British Chamber of Commerce lunch in Sydney, when Glenn Stevens was asked whether the bank might take action if the Australian dollar kept rising.
GLENN STEVENS: Tempted to say if it warrants a response we'll do it and then tell you why but, try to be more constructive.
MICHAEL JANDA: He kept his word about offering useful guidance.
GLENN STEVENS: I personally would continue to think that a lower currency than this would be helpful in rebalancing the growth sources of the economy. I'd prefer it to be lower than this rather than higher. Whether it's in my gift to make that happen is a separate question.
MICHAEL JANDA: It seems Mr Stevens' best hope is to convince currency traders to realise that the Australian dollar is overvalued compared with the weak conditions in the local economy at the moment, and the record low official interest rates.
GLENN STEVENS: I don't think you could really credibly say that the level of costs and productivity in Australia just on that metric and that's not the only metric, but on that metric, I don't think that those things would point you to present or high levels being really sustainable.
MICHAEL JANDA: But while Aussie businesses may be feeling the pressure from a rising dollar, Mr Stevens says the whole world has dodged a bullet(躲过了子弹), with US politicians averting or at least delaying a debt ceiling disaster.
GLENN STEVENS: I think had the debt ceiling started to impinge(冲击) in reality, we would have seen a very big fiscal contraction in the United States because 4 or 5 per cent of GDP budget deficit would have to have closed straight away. That would be quite a contractionary impact were that to have occurred. It hasn't occurred and at least for some months now we don't face that particular spectre(凶兆).
MICHAEL JANDA: But he also says nobody knows just how catastrophic the result of a US default would be.
GLENN STEVENS: The truth is most of us will have worked out a few contingencies, but the truth is we really don't have much idea how that would have gone, it isn't difficult to contemplate(盘算,深思熟虑)why isn't it, could have gone very, very badly, but we really shouldn't be in a position of ever finding out.
MICHAEL JANDA: While most of the questions focused on the here and now, former RBA board member Jillian Broadbent asked about whether low interest rates now mean central banks might confront rampant (猖獗的)inflation later.
It's a long-term threat that Glenn Stevens didn't rule out(排除在外).
GLEN STEVENS: In the near term, inflation is likely to remain low. Whether it remains low on a 10 to 20 year horizon, I think a lot of that really is going to hinge(依为转折点)on character, the determination and the independence of the central banks.
At least on paper that looks fine but I think there will be tests that come the way of central banks at some point on the inflation side, not in the very near term but sooner or later that will occur and really whether the world returns to high inflation or not ultimately is going to hinge very much on how they respond.
MICHAEL JANDA: But on that timeframe, it won't be Glenn Stevens' problem.
PETER LLOYD: That's our Business reporter Michael Janda. 作者: MICHELLE07 时间: 11-10-2013 21:20 本帖最后由 格菲 于 24-10-2013 21:04 编辑
23/10/2013 澳洲9月CPI超预期增长但趋势良好
中心思想:9月季度的CPI指数强势增长是由汽油价格(涨7.6%)、国际旅游(6.1%)、房产(7.9%)和能源价格(4.4%)的显著上升促使而成,这减低了11月降息的可能。1.2%的CPI增长比预期高0.8个百分点,造成了澳元对美元4个半月来的新高:0.9745。尽管如此,年通胀率降至2.2%。经济学家表示内需很弱,预期的失业率增长和被抑制的工资增长将使通胀保持在低水平,11月降息的可能性为6%。低汇率增加了进口通胀,封顶了降息空间,但价格的温和增长使得降息依然可能发生。和汽油国际旅游房产能源形成对比,蔬菜价格下降了4.5%。除Hobart, Darwin and Canberra外(低于1%)各州府CPI指数增长接近,可贸易商品的价格增长(1.2%)略高于不可贸易商品(1.1%,比如水电排污等)。
Inflation has risen strongly in the September quarter, boosted by petrol prices, international travel and property and utility rates, further reducing the odds(可能性/逆境,在这里是前者) of a Melbourne Cup day interest rate cut, analysts say.
The headline rate lifted by 1.2 per cent in the third quarter, higher than economists' expectations of 0.8 per cent. The June quarter headline rate was 0.4 per cent.
The stronger-than-expected rise sent the Australian dollar to a new 4½-month high of 97.45 US cents.
Despite the rise in some third-quarter prices, the headline year-on-year inflation rate fell to 2.2 per cent and remained comfortably near the bottom of the Reserve Bank's target band of 2 to 3 per cent.
Economists said weak demand in the domestic economy, an expected rise in unemployment and subdued(被抑制的) wages growth would keep underlying inflation low. A continued run of soft data would in turn leave the door open for the RBA to ease monetary policy further next year if it was needed to boost the economy.
Financial markets were pricing in a 6 per cent chance of a cut to the cash rate in November, down from about 11 per cent last week Credit Suisse data showed.
"The lower exchange rate has pushed up imported inflation and capped the ability of the central bank to lower the cash rate further," Moody's Analytics associate economist Katrina Ell said.
The underlying inflation, a combination of the trimmed mean and weighted median measures and one which is more closely watched by the Reserve Bank, was 0.65 per cent quarter-on-quarter and 2.3 per cent year-on-year.
"We are still in an environment where prices are growing pretty softer. Cost pressures are moderate," NAB's head of Australian economics Rob Brooker said, adding that another RBA interest rate cut could be still on the cards(有可能).
"In underlying terms, we're likely to see this sort of soft inflation environment for a little while to come."
Another rate cut might still be possible
ANZ's senior economist Riki Polygenis said the higher headline inflation rate could reduce the chances of another rate cut at the margins, especially if domestic economic data remains weak.
But she said the underlying figures were only marginally above the RBA's own forecasts, with subdued services and labour costs, as well as the recent strength of the Australian dollar, likely to keep inflation contained(牵制).
"Our view that the RBA has most likely approached the end of the easing cycle rests more on the outlook for activity, with today's inflation figures neither a justification(正当的理由)nor a hindrance (障碍)a for monetary policy changes," Ms Polygenis said in a note.
Significant price rises
Petrol prices soared by 7.6 per cent in the September quarter. International travel rose by 6.1 per cent, electricity by 4.4 per cent and property rates and charged by 7.9 per cent. Water and sewerage grew by 9.9 per cent while domestic travel prices increased by 3.5 per cent.
The Bureau of Statistics added that domestic and international travel costs increased due to the rise in airfare prices.
In contrast, vegetables prices dropped by 4.5 per cent.
Inflation rose by 1.2 per cent from July to September in Sydney, by 1.4 per cent in Melbourne and by 1.3 per cent in Brisbane. It lifted by 1.4 per cent in Adelaide and 1.2 per cent in Perth.
Price rises in Hobart, Darwin and Canberra were slightly more moderate. Prices rose by 0.9 per cent in Hobart and Darwin and by 0.6 per cent in Canberra.
In the tradeables segment, which consists of goods that have prices determined on the world markets, inflation rose by 1.2 per cent for the September quarter, driven by petrol, fruit and tobacco price rises. The strength of the Australian dollar has kept tradeables inflation low, but the currency's weakness between April and August was expected to lift prices in this component for the quarter.
The non-tradeables component - goods and services that have to be consumed where they are bought - saw a 1.1 per cent rise for the quarter on the back of higher electricity, water and sewerage costs. 作者: MICHELLE07 时间: 11-10-2013 21:20 本帖最后由 格菲 于 1-11-2013 12:51 编辑
Sales of new homes boasted 自夸 their biggest monthly gain in September since April last year as low mortgage rates and the outlook for rising prices attracted more buyers, an industry survey shows.
The Housing Industry Association (HIA) said its survey of large builders showed sales of new homes jumped a seasonally adjusted 6.4 per cent in September, from August. The total level of sales was also the highest since June 2011.
Sales of new detached houses rose 4.5 per cent, while the volatile不稳定的 multi-unit sector enjoyed an increase of 19.9 per cent.
"There is clear upward momentum in detached house sales which grew by 3.7 per cent in the September quarter to be up by 25.2 per cent when compared with the same quarter last year," said HIA chief economist Harley Dale. "This September outcome is very positive."
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The news should be welcomed by the Reserve Bank which has been counting on a revival(复兴) in home construction to help support the economy as a long boom in mining investment finally peaks this year.
Record low interest rates have led to a pick-up in home prices and clearance rates at auctions, though approvals to build new homes have not yet been as strong as in past recoveries.
The competition watchdog will delay releasing the results of an investigation into the big supermarket chains and their treatment of suppliers until next year, citing the complexity and depth of the case.
The final assessment would be completed by March, later than the estimated deadline of end-2013, the chairman of the Australian Competition and Consumer Commission (ACCC), Rod Sims, said in a speech in Canberra today.
Mr Sims' comments came as the Small Business Minister Bruce Billson said the federal government's "root and branch" review of the competition laws could address concerns over the long-term impact of the supermarket wars between Coles and Woolworths on suppliers and consumers.
Mr Sims said at the Australian Food and Grocery Council Industry Leaders Forum that the delay reflected the "complexity and breadth of investigations and the challenges associated with gathering evidence while safeguarding the business relationship witnesses have with the supermarket chains".
The ACC has been looking in whether the Coles and Woolworths have been engaging in "unconscionable昧着良心的,不合理的 conduct in their dealings with their suppliers" and whether they were misusing their market power by favouring their house brands.
Mr Billson told the same forum that while the supermarkets' alleged可疑的,宣称,断言 behaviour may not be found to have breached competition laws, the current situation may not be "delivering the most efficient or optimal outcomes in the market".
"We have to ask ourselves: will these price and market pressures impact on the viability 生存能力of the food and grocery industry over the long term, and will they stifle 扼杀innovation and investment by suppliers? And will this result on higher grocery prices in the longer term?" Mr Billson said.
"If unduly harsh bargaining practices are being used, they could, indeed, reduce incentives for suppliers to invest and innovate. It is these question marks over competition policy which we want to examine."
Mr Sims also criticised the supermarket giants for continuing their use of shopper docket petrol discounts despite the ACCC's previous warnings.
"I am concerned about the escalating 逐步升级 shopper docket petrol discounts, now reaching up to 45 cents per litre in some cases," Mr Sims said.
"I am also concerned that despite placing retailers on notice about our concerns, the behaviour has continued and indeed escalated."
Mr Sims added that the ACCC had no power to ban shopper dockets, and did not want the power to ban promotions. Its role was instead as an investigator of market activity, with the courts taking on the enforcement role. 作者: MICHELLE07 时间: 11-10-2013 21:21 本帖最后由 格菲 于 7-11-2013 22:51 编辑
The local share market has closed higher, but the Australian dollar has lost ground after the Reserve Bank warned the currency needs to fall in value to ensure balanced economic growth.
The RBA has left the official interest rate at the historic low of 2.5 per cent, in line with expectations.
In statement, RBA governor Glenn Stevens says the board expects non-mining growth to continue, but the pace of that growth is uncertain.
He says it is also unclear how persistent an increase in business and consumer confidence will be.
The RBA also says value of the Australian dollar remains uncomfortably high.
The Australian dollar fell by a quarter of a cent against the US dollar after the announcement.
At 5pm, it was worth 94.75 US cents.
The Australian share market has ended the day higher, with strong gains among the big miners.
The All Ordinaries index closed 0.8 per cent higher to hit 5,425 points.
The ASX 200 index ended trade up by the same margin to reach 5,432.
Rio Tinto added 1.5 per cent, while Fortescue jumped by almost 4 per cent to end the day at $5.53.
All the big banks closed higher, with Commonwealth Bank adding 1.2 per cent to close at $77.
Telstra has announced plans to list its China-based car sales website on the New York Stock Exchange.
The telco owns 72 per cent of Autohome, which it says is China's most popular online car sales service.
Documents filed with US regulators show Autohome earned about $US54 million in the first nine months of this year.
Telstra ended the day flat on $5.14.
In commodities, West Texas crude oil was had hit about $US95 a barrel at 5pm.
Tapis crude was at $US114. Spot gold was worth $US1,316 an ounce.
The Australian dollar was fetching(拿去,请来,这里是相当于的意思) 93.4 Japanese yen, 59.33 British pence, and 70.19 euro cents.作者: MICHELLE07 时间: 11-10-2013 21:21 本帖最后由 MICHELLE07 于 13-11-2013 16:11 编辑
When the Chinese Communist Party released its master plan for reform last night at the third plenum of the Eighteen Party Congress(十八界三中全会,每一届中央委员会总共召开五至六次全体会议,分别简称为“一中全会”、“二中全会”、“三中全会”、“四中全会”、“五中全会”等, ,党的全国代表大会一般每五年召开一次,我们通常简称为“XX大”。比如我们所说的“十六大”,就是“中国共产党第十六次全国代表大会”的简称。党的全国代表大会是党的最高权力机关。 党的全国代表大会选举产生的中央委员会,就是我们平时简称的“中央”、“党中央”或“中共中央”), commentators and analysts struggled to find bold( 醒目的;勇敢的,无畏的;莽撞的) reform messages to cheer for.
Though the party has promised to grant the invisible hand of the market a “decisive” role in resource allocation and to deepen reform, the plan remains largely vague 模糊的and inevitably falls short of 低于, 不满足 the heightened expectation.
The reform of the privileged state-owned sector, which sucks up disproportionate amount of resources, is widely regarded as an important litmus石蕊色素(取自地衣类的一种青色染料); 草蓝 test of Beijing’s resolve to break the reform impasse.
On this front, the party communiqué is a disappointment. It has re-affirmed the importance of the state-owned enterprises in China’s political economy.
It used the phrase “unshakably developing and consolidating the state sector", while at the same time promoting the developing the private sector, which is the most dynamic part of the economy that employs more than 60 per cent of the population.
Guan Yuqing, a noted economist and deputy head of Minsheng Securities said in a late night conference that the basic position of the state sector remained unchallenged and the reform of the state sector would likely to stay at corporate level rather than structural level.
“It is likely to have a negative impact on the markets,” he said.
Just a day before the release of the communiqué公报, the State-owned Assets Supervision and Administration Commission, the body overseeing a hundred odd of the largest state champions, moved swiftly to shut down a China Daily report about allowing private capital buying up to 15 per cent of shares in state-owned companies.
“Strong backing for the state sector is hard to square with 与…相符 the desire to give markets a much greater role. The party leadership may believe it can achieve both, but as long as state-owned enterprises (SOEs) retain their privileged position, markets will remain skewed不对称的, 斜的,歪的,’' said Mark Williams, chief Asia economist of Capital Economics.
However, a senior Chinese financial services executive, who is currently visiting Australia, said he was upbeat 积极乐观的 about the prospect of reform and the government would soon grant banking licenses to private sector players.
A significant move when and if it happens.
As people scramble争夺,抢夺 for hints 线索,迹象;提示,注意事项;暗示of bold reform measures, one of the most promising concrete steps is the formation of a leading group at the highest level of the party apparatus器械, 机构 to deepen reform.
A leading group is a small team of high ranking party officials overseeing an important policy area such as economy and foreign affairs.
Many commentators regard this as a positive sign that reform is taken more seriously this time around.
When Deng Xiaoping unleased the ground-breaking reforms in the 1970s and 80s, there was a structural reform commission charged with the task to reform the country’s economic system.
The body was widely lauded 称赞,赞美for its pioneering work. It is still early days to see whether the new group will be able to fill the big shoes of its predecessor.
The communiqué also touched upon an important area of land reform in China, a vexing 使烦恼, 长期争论 issue that is driving much of rural social unrest骚乱 as corrupted officials grab farmers’ land without fair compensation.
The party plan stated Beijing’s desire to establish a unified market for rural and urban construction land, which means long suffering Chinese farmers more proprietary rights over their lands, something their city cousins long enjoy.
Amid all flying accusations 谴责 of American espionage 间谍活动and escalating cyber war电脑信息战, China has formed a State Security Committee, similar to the National Security Council of the United States. The new body will oversee both domestic and foreign national security issues.
In general, there are not much new details in this new “master plan for reform”, some encouraging language but short of specifics as you would expect in a broad party policy statement.
It is still early days as the world waits for more details from the Chinese leadership.作者: MICHELLE07 时间: 11-10-2013 21:22 本帖最后由 MICHELLE07 于 26-11-2013 16:48 编辑
Australian dollar drops after RBA's Glenn Stevens warning of intervention in currency markets
22-11-2013
澳币继续稳定下跌,对新西兰元到达了5年来最低。
在华尔街的利好消息振奋下,资本市场上扬。各类股票都很强劲,能源类和行业股票领头。David Jones 工人罢工反对管理层的支付计划。
The Australian dollar has dropped against all the major currencies today after the Reserve Bank's governor Glenn Stevens said that intervention in currency markets by the central bank is not out of the question.
The dollar continued its steady fall and at 5pm (AEDT) it was worth 91.77 US cents.
The dollar even touched a five-year low against the New Zealand dollar, falling below $1.12.
Equities and the share market took back some recent gains, and rose off yesterday's one-month low, after gains on Wall Street buoyed sentiment振奋情绪.
The All Ordinaries added 0.9 per cent to hit 5,330, and the ASX 200 gained 48 points to reach 5,336.
All sectors were stronger with energy and industrial stocks leading the charge, following a recovery in global energy prices.
The major banks and miners averaged gains of around two thirds of a per cent.
As the Annual General Meeting season continues, David Jones chairman Peter Mason unreservedly apologised to investors angered about share trading by directors prior to the release of the company's recent results.
David Jones received its first strike against its executive pay plan with more than a quarter of investors voting against it.
If the company receive a second strike next year, the entire David Jones board will be expected to stand down.
Rio Tinto chairman Jan du Plessis was today spruiking当众滔滔不绝地讲话 the new Federal Government's direct action plan on climate change.
Mr du Plessis told a British Chamber of Commerce gathering in Sydney the mining giant is talking to the government regularly on some of the ideas for direct action.
In the commodities market, West Texas Crude has strengthened overnight to close at $US95.03 a barrel.
Singapore's Tapis 织锦 has risen two dollars to $US119 and spot gold has edged up to $US1,244 an ounce.作者: MICHELLE07 时间: 11-10-2013 21:22 本帖最后由 MICHELLE07 于 12-12-2013 08:53 编辑
There are concerns that foreign interest in Australian residential property is pushing up prices, making it harder for local first home buyers to enter the market.
Chinese interest in Australian residential property is booming, with chief executive of McGrath Estate Agents John McGrath describing it as the biggest surge from an offshore market in his 30 years in real estate.
"In some suburbs 90 per cent of new product will sell to Chinese buyers," he said.
Cashed-up buyers are snapping up 争购everything from luxury harbour-side property in Sydney to apartments bought off the plan in Sydney, Melbourne the Gold Coast and Perth.
Monika Tu from Black Diamondz Concierge Service in Sydney saw an opportunity at the high end of the market.
Ms Tu finds properties for wealthy Chinese clients and helps them settle in to Australia. She will look after everything from housing, to finding schools, to buying investment art.
Ms Tu invited the ABC's 7.30 program along as she showed client Amy Wong a property on Sydney's lower north shore, on the market for $13 million.
"I decided to move family here for the education and for the lifestyle," Ms Wong said.
"This is just a beautiful place to be."
But not everyone welcomes the new buyers. Buyer's agent Patrick Bright says he refuses to help non-residents find property.
"Why should we sell off the farm if you like, or sell off the city," he said.
"It's not like we are struggling for people to buy these properties, because we've got an undersupply, [that] is what all the associations keep telling us."
Foreign investors 'only part of the equation'
Financial analyst Martin North agrees there is a shortage of residential property, which is forcing up prices and making it even tougher for first home buyers.
But he says foreign investors are only part of the equation.
"First home buyers find they can't afford to buy because prices are too high," Mr North said.
"Also when you attend an auction you discover that investors from overseas, local investors and baby boomers are all also trying to buy the same property."
When 7.30 attended the second-stage release of a new apartment complex in Sydney's south, there was a long queue of would-be buyers waiting for the opening of the sales office.
CBRE Real Estate's Tim Rees says they sold 250 units in the first release in three hours.
"Today, we sold another 50," he said.
"We have got first home buyers strong in the market, there are investors, 60 per cent owner-occupiers, 40 per cent investors."
Under Foreign Investment Review Board guidelines, if a developer has pre-approval from the Foreign Investment Review Board, 100 per cent of apartments in a new development can be sold to foreigners.
According to Mr North some developers target the international market.
"In some cases there are developers who are essentially building directly to sell to China and they are advertising on websites over in China and using Chinese connections to sell off the plan," he said.
Mr McGrath believes the business is good for the market.
"I think it is quite centralised in certain pockets, so I don't think it is doing great damage or harming local buyers' opportunities to buy here still," he said.
Mr North believes the key problem is the shortage of residential property in Australia and says there need to be policy changes to ensure that a large group of Australians do not become life-long renters.
"We have five trillion in property in Australia, it is a massive economic engine for us," he said.
"But we need to be clear about how we are going to manage that effectively for the greater good of Australia." 作者: MICHELLE07 时间: 11-10-2013 21:23 本帖最后由 MICHELLE07 于 12-12-2013 09:24 编辑
Asialink-PwC Index of Engagement shows slump in Australia-Asia business relations
5/12/2013
After a decade of strong growth in Australia's business ties with Asia, an annual survey is reporting a marginal fall in Australia's overall engagement with Asia.
The report by Asialink believes the drop is a "temporary pause" influenced by the global economic downturn.
The report concludes engagement has dropped largely due to a decrease in Australian investment, particularly in China.
The annual Asialink-PwC Index of Engagement was released in Melbourne tonight at a dinner attended by Prime Minister Tony Abbott.
The survey tests engagement in several categories such as trade, investment, tourism and education over 25 Asian economies.
PwC partner Mark Laurie says overall the report is a good business story with trade with Asian nations growing, but success in the future is not guaranteed.
"Currently in the Asia Pacific region there are 500 million people in the middle class; by 2030 it will be 3.2 billion people. Australia is well placed to seize the opportunities by engaging and focusing on long-term relationships. None of these are overnight stories," he said.
Mr Laurie believes that deeper engagement is key and that Australia cannot afford to take success for granted.
Investment slump after boom
The survey found trade with Asian nations grew by 3 per cent, but Australian international investment was down by 18 per cent. That led to an overall fall of 0.4 per cent in the Asialink PwC Melbourne Institute Asia Engagement Index.
Australian investment engagement with China fell by 40.2 per cent.
The report says: "There was a sharp fall of 40.2 per cent in investment engagement with China in 2012. The magnitude of this change largely reflects a big one-off jump in net outbound investment in 2011 and an ensuing large fall in 2012."
The report noted that investment flows can be volatile and that the fall comes as China's rapid economic growth begins to slow to a more sustainable rate.
There were many positive signs in the survey, including a growth in trade when much of the developed world remains in a trade slump.
It also reported a continued boom in Asian tourism bound for Australia. Chinese tourism is up 24 per cent this year, the survey said.
Japan and Korea engagement also falls
Along with a fall in business engagement with China, engagement with Japan and Korea also fell.
The report comes with the announcement today that Australia will sign a free trade agreement with South Korea.
"Although one of our most important relationships in the region, Australia's engagement with Japan fell by 1.1 per cent in 2012, following a 9.5 per cent fall in 2011," the report states.
"The 2012 decline in engagement with Japan was due overwhelmingly to falls in investment flows.
"The Australia-Korea Engagement Index fell by 11.0 per cent in 2012 (the second consecutive fall), reflecting a decline in investment and education engagement, which more than negated increases in the other components such as research and business development."
"Korea is the third-largest source of foreign student enrolments in Australia, after China and India, and has played an important role in the development of Australia's education service exports over the past decade.
"Nevertheless, education engagement fell in 2012 for the fifth year in a row, possibly reflecting the high [Australian dollar] and strong competition from the United States and United Kingdom."
Links with Indonesia and India improved
The Asialink report found engagement is rising with India and Indonesia - a development welcomed by Asialink Chairman Sid Myer.
"A rise in engagement with Indonesia of 9.7 per cent in 2012, the biggest recorded increase among the major Asian countries, is a promising development in one of our most important bilateral relationships," he said.
"Australia-Asia engagement is being fuelled by the acceleration in stop-level delegations to Asia at federal, state and city government levels."
The report said the slowing world economy was influential in the engagement shifts detected. 作者: MICHELLE07 时间: 11-10-2013 21:23 本帖最后由 MICHELLE07 于 12-12-2013 09:17 编辑
Holden to cease manufacturing operations in Australia by 2017 11/12/2013
Australia's entire car making industry and tens of thousands of jobs have been thrown into doubt by Holden's decision to close down.
Nearly 3,000 Holden workers are set to lose their jobs over the next four years as the iconic manufacturer winds down its Australian manufacturing operations.
The decision has prompted Toyota - the only other car manufacturer in Australia - to warn it will put "unprecedented pressure" on its ability to build cars in the country too.
General Motors Holden has announced the company will stop making vehicles by the end of 2017 - ending 65 years of building cars in Australia.
The decision means 2,900 people will lose their jobs - 1,600 from the manufacturing plant in South Australia and 1,300 in Victoria.
Prime Minister Tony Abbott says it is "dark day" for manufacturing in Australia.
"This is a dark day but there will be better days ahead," he told Parliament upon his return from South Africa, where he attended the Nelson Mandela memorial service.
"It is my determination ... to work with the people of Australia to ensure that the strengths of our society continue to be built on."
He said in the coming days the Government will be announcing measures "that will build on the strengths that we have, and which will offer hope for the people of the regions impacted".
"It will be a considered package of measures designed to rebuild confidence in the long-term economic future of those regions, in the long-term future of manufacturing in this country," he said.
Holden general manager Mike Devereux delivered the news to workers in Adelaide's Elizabeth plant.
"This is an incredibly difficult day for everybody at Holden, given our long and proud history of building cars in Australia," he told a media conference.
"But make no mistake, we have looked at every possible option to build our next generation cars here in this country to replace our existing models."
The decision has been met with regret by the premiers of South Australia and Victoria and by Deputy Prime Minister Warren Truss.
Look back on history of Holden since its beginnings more than 150 years ago
Holden's exit will be felt for generations, an expert warns
Mr Truss, who yesterday demanded an urgent clarification from the company about its future, told Federal Parliament he had spoken to Mr Devereux shortly before the decision became public.
"We regret the fact that GM is to phase down its operations in this country," he said.
"Holden has been an iconic national brand for Australians, a part of our heritage, which meant a great deal to Australians over several generations."
Victorian Premier Denis Napthine described Holden's decision as "terrible news" and is due to meet Mr Abbott in Canberra on Thursday.
He says he will be asking the Government for a substantial assistance package to re-train workers at Holden.
South Australian Premier Jay Weatherill described the closure as a "body blow" to his state, "not just economically but socially".
Opposition Leader Bill Shorten described it as a "devastating" announcement, accusing the Government of failing workers by refusing to give Holden any more taxpayer funding.
"There has been a game of high-stakes political poker played, and unfortunately the bluff was called and the losers are thousands of Australian automotive workers and their families," he said.
"Holden said very clearly yesterday that a decision had not been made. Something has changed in the past 24 hours.
"They were told by the Federal Government of Australia, who were elected to govern for all, that there would be no more support and no more investment, and I believe that Holden were pushed."
The Holden boss cited a range of economic factors, but would not speculate on whether the government's move to rule out financial assistance had played any role.
"Australia's automotive industry is up against a perfect storm of negative influences, including the sustained strength of the Aussie dollar against almost all major trading currencies, the relatively high cost of production and the relatively small scale of the local domestic market," Mr Devereux said.
And he painted a bleak picture for the wider industry, saying that "building cars in this country is just not sustainable".
Toyota now determining its 'next steps'
Toyota, which employs 4,200 people in Australia, has flagged the difficulties Holden's departure will cause.
"This will place unprecedented pressure on the local supplier network and our ability to build cars in Australia," Toyota said in a statement.
"We will now work with our suppliers, key stakeholders and the Government to determine our next steps and whether we can continue operating as the sole vehicle manufacturer in Australia."
Treasurer Joe Hockey urged Toyota workers there to accept a new wage deal in light of Holden's announcement.
"I say emphatically to the workers at Toyota, who are due to make a decision this Friday, on a proposal put to them by the management of Toyota, I say to them emphatically - please vote for your jobs this Friday."
However, the Australian Manufacturing Workers Union says it is now "highly likely" Toyota will leave Australia too.
"Toyota have told me they won't be able to survive in Australia because of the lack of volume in the component industry," national secretary of the AMWU vehicle division Dave Smith said.
Car parts companies are also likely to fall victim to the Holden shutdown with its peak representative body, the Federation of Automotive Product Manufacturers, warning that up to 40,000 jobs are at stake.
President Jim Griffin says MPs need to understand the "downstream" impact of the demise of the big car manufacturers.
"If you cut the trunk down, the branches come down with it," he said.
"This is about small companies all around Australia that employ 20, 30, 40, 50 people that are all going to disappear in two or three years time if this industry does not continue."
SA Senator Nick Xenophon says the closure will trigger an "economic tsunami", while Greens Deputy Leader Adam Bandt has warned the sector is in a "death spiral".
Industry Minister Ian Macfarlane says the Government still believes car making can survive in Australia.
"The task for the industry has got measurably more difficult as a result of Holden's decision, but it is not impossible to maintain a component and car industry in Australia," he said.
Clearly emotional, the Minister said his "deepest sympathies" were with the workers, some of whom he met on a visit to the SA plant in October.
"You could tell by the looks in their eyes that there was a level of desperateness," he said.
"The workers there knew they were up against it in terms of Holden maintaining production."
Government to help workers find new jobs
The Federal Government says it will consult Holden, unions and all other stakeholders to help workers find new jobs.
"We will do what we can with General Motors to achieve the very best possible outcomes for these people," Mr Truss told Parliament.
"This is a difficult day for Australians, a difficult day particularly for the Holden employees, and we will stand with them to work constructively to make sure that they can transition into good jobs in other parts of our industry."
The demise of Holden has intensified the political debate about taxpayer support for the manufacturing industry, with Acting Opposition Leader Tanya Plibersek accusing the Coalition of "goading" Holden.
"Treasurer Hockey dared Holden to withdraw from Australia and he got his way," she said.
Yesterday in Parliament Mr Hockey urged the company to "come clean" about its plans, saying "either you're here or you're not".
But he has rejected Labor's criticism, saying Holden's decision would have been months - if not years - in the making.
General Motors says "action or inaction" on the part of the Australian Government is not to blame.
Holden will retain its sales unit, a parts distribution centre and a design studio in Australia. 作者: MICHELLE07 时间: 11-10-2013 21:23
week ending 20/12/2013作者: MICHELLE07 时间: 11-10-2013 21:25 本帖最后由 MICHELLE07 于 3-12-2013 14:30 编辑