The Australian | Business | Newshttp://www.theaustralian.news.com.au/business/businessnews/News, views and information from the pages of The AustralianThu, 17 May 2012 07:54:27 +1000Thu, 17 May 2012 07:54:27 +1000en-auCopyright 2012 News Limited. All rights reserved.aus_businessnews_6915Dow slumps to four-month lowhttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/ufUP0oQTgU8/story-e6frg91o-1226358480052http://www.theaustralian.com.au/business/markets/djia-slumps-to-four-month-low-on-greek-turmoil/story-e6frg91o-1226358480052AMERICA'S blue-chip index fell for a fourth straight session as Greece's political turmoil extended the recent stock slide. <p><a href="http://feedads.g.doubleclick.net/~a/zh9fB8HhW8FVHSiLxYcRkj1iak0/0/da"><img src="http://feedads.g.doubleclick.net/~a/zh9fB8HhW8FVHSiLxYcRkj1iak0/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/zh9fB8HhW8FVHSiLxYcRkj1iak0/1/da"><img src="http://feedads.g.doubleclick.net/~a/zh9fB8HhW8FVHSiLxYcRkj1iak0/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/ufUP0oQTgU8" height="1" width="1"/>Wed, 16 May 2012 20:45:46 GMTJonathan Cheng and Chris Dieterichhttp://www.theaustralian.com.au/business/markets/djia-slumps-to-four-month-low-on-greek-turmoil/story-e6frg91o-1226358480052Commodities hit by global panichttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/BEmRKO_xmRk/story-e6frg91x-1226358492724http://www.theaustralian.com.au/business/markets/gold-copper-hit-by-greek-drama-china-slowdown-oil-slammed-by-inventories/story-e6frg91x-1226358492724Commodities were slammed overnight as investors rushed into US dollars and bonds and US oil inventories hit a 22-year high. <p><a href="http://feedads.g.doubleclick.net/~a/5Uwkm7HEC4xFa4DfSBvlXAtFrrE/0/da"><img src="http://feedads.g.doubleclick.net/~a/5Uwkm7HEC4xFa4DfSBvlXAtFrrE/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/5Uwkm7HEC4xFa4DfSBvlXAtFrrE/1/da"><img src="http://feedads.g.doubleclick.net/~a/5Uwkm7HEC4xFa4DfSBvlXAtFrrE/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/BEmRKO_xmRk" height="1" width="1"/>Wed, 16 May 2012 21:10:22 GMTMatt Day and David Birdhttp://www.theaustralian.com.au/business/markets/gold-copper-hit-by-greek-drama-china-slowdown-oil-slammed-by-inventories/story-e6frg91x-1226358492724ECB ups pressure on Greecehttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/M1SuUDPnhOg/story-fnay3ubk-1226358506186http://www.theaustralian.com.au/business/wall-street-journal/ecb-cuts-greek-banks-access-to-funds-as-draghi-admits-exit-possibility/story-fnay3ubk-1226358506186ECB chief Mario Draghi acknowledged a possible Greek exit from the EU as the central bank cut Greek banks off from its normal funding. <p><a href="http://feedads.g.doubleclick.net/~a/Jtb-ID1UC0yWsd4GvGL5eEYyL88/0/da"><img src="http://feedads.g.doubleclick.net/~a/Jtb-ID1UC0yWsd4GvGL5eEYyL88/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/Jtb-ID1UC0yWsd4GvGL5eEYyL88/1/da"><img src="http://feedads.g.doubleclick.net/~a/Jtb-ID1UC0yWsd4GvGL5eEYyL88/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/M1SuUDPnhOg" height="1" width="1"/>Wed, 16 May 2012 21:43:24 GMTBrian Blackstone and Geoffrey T. Smithhttp://www.theaustralian.com.au/business/wall-street-journal/ecb-cuts-greek-banks-access-to-funds-as-draghi-admits-exit-possibility/story-fnay3ubk-1226358506186Packer ups the ante on Echo directorshttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/bIEugLBaka4/story-fn91v9q3-1226358205868http://www.theaustralian.com.au/business/companies/packer-ups-the-ante-on-echo-directors-over-media-leaks/story-fn91v9q3-1226358205868JAMES Packer has moved to put more pressure on Echo Entertainment before the release of a crucial government report. <p><a href="http://feedads.g.doubleclick.net/~a/t9a6AKS5-rdSH6rKWhIzwu_JO18/0/da"><img src="http://feedads.g.doubleclick.net/~a/t9a6AKS5-rdSH6rKWhIzwu_JO18/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/t9a6AKS5-rdSH6rKWhIzwu_JO18/1/da"><img src="http://feedads.g.doubleclick.net/~a/t9a6AKS5-rdSH6rKWhIzwu_JO18/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/bIEugLBaka4" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTDamon Kitneyhttp://www.theaustralian.com.au/business/companies/packer-ups-the-ante-on-echo-directors-over-media-leaks/story-fn91v9q3-1226358205868BHP backtracks on plan to spend $80bn on projectshttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/iKfLNxOGF7c/story-e6frg9df-1226358210022http://www.theaustralian.com.au/business/mining-energy/bhp-backtracks-on-plan-to-spend-80bn-on-projects/story-e6frg9df-1226358210022THE chairman of the world's largest miner, BHP Billiton's Jac Nasser, has warned of increasing global volatility and uncertainty . <p><a href="http://feedads.g.doubleclick.net/~a/K0iAfn4FG2dhiDWzHdCzKM8NdRI/0/da"><img src="http://feedads.g.doubleclick.net/~a/K0iAfn4FG2dhiDWzHdCzKM8NdRI/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/K0iAfn4FG2dhiDWzHdCzKM8NdRI/1/da"><img src="http://feedads.g.doubleclick.net/~a/K0iAfn4FG2dhiDWzHdCzKM8NdRI/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/iKfLNxOGF7c" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTSarah-Jane Taskerhttp://www.theaustralian.com.au/business/mining-energy/bhp-backtracks-on-plan-to-spend-80bn-on-projects/story-e6frg9df-1226358210022CBA and ANZ take their fight outsidehttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/Ixlf2y_m06A/story-fn91wd6x-1226358205655http://www.theaustralian.com.au/business/financial-services/cba-and-anz-take-their-fight-outside/story-fn91wd6x-1226358205655WHEN Ian Narev presents CBA's third-quarter trading update today, he might be tempted to needle Mike Smith at ANZ Bank about CBA's plans. <p><a href="http://feedads.g.doubleclick.net/~a/YgkudL0WeIyoNw29Q7cMbYmbEQ8/0/da"><img src="http://feedads.g.doubleclick.net/~a/YgkudL0WeIyoNw29Q7cMbYmbEQ8/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/YgkudL0WeIyoNw29Q7cMbYmbEQ8/1/da"><img src="http://feedads.g.doubleclick.net/~a/YgkudL0WeIyoNw29Q7cMbYmbEQ8/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/Ixlf2y_m06A" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTRichard Gluyashttp://www.theaustralian.com.au/business/financial-services/cba-and-anz-take-their-fight-outside/story-fn91wd6x-1226358205655Burgess steps up at Future Fundhttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/n7iKlKtKDf0/story-fn91wd6x-1226358191360http://www.theaustralian.com.au/business/financial-services/burgess-steps-up-as-gonski-puts-stamp-on-future-fund/story-fn91wd6x-1226358191360THE $77 billion Future Fund is moving towards establishing itself more like a listed company. <p><a href="http://feedads.g.doubleclick.net/~a/wg6u2ngYBIYb-l0ctEGYtx7aQvo/0/da"><img src="http://feedads.g.doubleclick.net/~a/wg6u2ngYBIYb-l0ctEGYtx7aQvo/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/wg6u2ngYBIYb-l0ctEGYtx7aQvo/1/da"><img src="http://feedads.g.doubleclick.net/~a/wg6u2ngYBIYb-l0ctEGYtx7aQvo/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/n7iKlKtKDf0" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTGlenda Korporaalhttp://www.theaustralian.com.au/business/financial-services/burgess-steps-up-as-gonski-puts-stamp-on-future-fund/story-fn91wd6x-1226358191360Weak housing hammers CSRhttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/IpmDhSJ4LIk/story-e6frg8zx-1226358205562http://www.theaustralian.com.au/business/weak-housing-industry-hammers-csr/story-e6frg8zx-1226358205562THE chief executive of CSR says the housing industry is in its worst state in 15 years and is unlikely to recover&nbsp;short term. <p><a href="http://feedads.g.doubleclick.net/~a/dCK-mLaEahZj2mYTsFeHrtOCBxE/0/da"><img src="http://feedads.g.doubleclick.net/~a/dCK-mLaEahZj2mYTsFeHrtOCBxE/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/dCK-mLaEahZj2mYTsFeHrtOCBxE/1/da"><img src="http://feedads.g.doubleclick.net/~a/dCK-mLaEahZj2mYTsFeHrtOCBxE/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/IpmDhSJ4LIk" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTTeresa Ooihttp://www.theaustralian.com.au/business/weak-housing-industry-hammers-csr/story-e6frg8zx-1226358205562Iron ore export window closinghttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/1J8a3mDG5ZU/story-e6frg9df-1226358217086http://www.theaustralian.com.au/business/mining-energy/kloppers-warns-iron-ore-export-window-is-closing/story-e6frg9df-1226358217086BHP Billiton chief executive Marius Kloppers has a more bearish forecast on iron ore demand than Rio Tinto. <p><a href="http://feedads.g.doubleclick.net/~a/4AmOBA_7AlxwrZoAtu2G4WK3B_I/0/da"><img src="http://feedads.g.doubleclick.net/~a/4AmOBA_7AlxwrZoAtu2G4WK3B_I/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/4AmOBA_7AlxwrZoAtu2G4WK3B_I/1/da"><img src="http://feedads.g.doubleclick.net/~a/4AmOBA_7AlxwrZoAtu2G4WK3B_I/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/1J8a3mDG5ZU" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTMatt Chambershttp://www.theaustralian.com.au/business/mining-energy/kloppers-warns-iron-ore-export-window-is-closing/story-e6frg9df-1226358217086Battered mining stocks fall in a holehttp://feedproxy.google.com/~r/TheAustralianBusNews/~3/mu1-QWRMQ0I/story-e6frg8zx-1226358219512http://www.theaustralian.com.au/business/battered-mining-stocks-fall-in-a-hole-on-china-fears/story-e6frg8zx-1226358219512MINING stocks continue to be punished by investors on growing fears of a slowdown in China. <p><a href="http://feedads.g.doubleclick.net/~a/mAr8bGtjmCI03Lpf2rpgsXl8pvs/0/da"><img src="http://feedads.g.doubleclick.net/~a/mAr8bGtjmCI03Lpf2rpgsXl8pvs/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/mAr8bGtjmCI03Lpf2rpgsXl8pvs/1/da"><img src="http://feedads.g.doubleclick.net/~a/mAr8bGtjmCI03Lpf2rpgsXl8pvs/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/TheAustralianBusNews/~4/mu1-QWRMQ0I" height="1" width="1"/>Wed, 16 May 2012 14:00:00 GMTSarah-Jane Taskerhttp://www.theaustralian.com.au/business/battered-mining-stocks-fall-in-a-hole-on-china-fears/story-e6frg8zx-1226358219512