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The Reserve Bank of Australia has decided as of 2:30 pm AEST, to lower the cash rate to a 25 basis point cut to 7 per cent, effective as of the 03rd September 2008 - according to Governor Glenn Stevens.
In an effort to restrain demand where inflation has been growing over the past year with [...]
There has been talks again of concern on whether the RBA will need to rescue two of the biggest financial companies that holds the majority of mortgages in United States - Fannie Mae & Freddie Mac.
The shares of both companies fell to the lowest levels in almost twenty years and the statement from Barron’s didn’t [...]
The Australian (Labor) government will retain its ruling of four pillars banking regulation in a bid to prevent mergers from Australia’s four biggest banks, said the Australian treasurer Wayne Swan on Monday.
The government will also establish a scheme that would give depositors of banks and insurance companies quick access to funds should a financial institution [...]
The Bush Administration has proposed to require fingerprint collection from international visitors when they are going through airports or cruise liners. The fingerprints collected would be sent to Homeland security department soon after the visitors leave, according to a proposed rule.
(Here’s a type of fingerprint scanner used in the UK but not necessarily in UK [...]
In an aggressive effort to help home builders and struggling owners, the US Senate passed a combination of tax breaks to address the dwindling housing market.
The senate passed a regulation by allowing a $25.5B new property tax deduction to relieve the banks and homebuilders and a $7,000 tax credit for a purchase of a foreclosed [...]
