- Australia Cuts Resources Tax to 30Pct
Australian government on Friday cut the tax rate for iron ore and coal profits from 40 percent to 30 percent, a substantial concession to the mining firms.
- HSBC China June PMI Slips to 50.4
HSBC China June PMI slipped to 50.4 from 52.7 in May as new output and new orders dropped outright for the first time since the depths of the global downturn in March 2009.
- EU Fines Steel Makers 518Mln Euros for Cartel
The producers of prestressing steel, including industry giant ArcelorMittal, have been operating the price-fixing and market-sharing cartel between 1984 and 2002 in all EU member states excluding Britain, Ireland and Greece.
- HP Sets to Cut 6,000 Jobs, Q2 Profit Surges
The world's largest PC maker Hewlett Packcard announced yesterday it is to shed 6,000 jobs in the next few years, as a result of productivity gains from automation.
- Strike Shuts Honda's Four Chinese Plants
A strike at Honda Motor Co.'s transmission factory in southern China has forced the Japanese auto maker to shut all four of its Chinese joint-venture final-assembly plants.