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Big rise in number of Aussie millionaires
THE number of Australian millionaires has risen 34 per cent rise as the world’s wealthy recover most of their losses from the global financial crisis, a study shows.
Australian millionaires totalled 173,600 at the end of 2009, up from 129,200 at the end of 2008, the latest World Wealth [...]

The Resource Super Profits tax
Like many contemporary political issues, everyone has a very strong opinion regarding the proposed Resource Profits Super Tax (RPST). But as it was with the proposed emissions trading scheme (ETS), very few of us have a comprehensive understanding of how exactly it works. Fewer still are able to appraise the [...]

The recent articles in this series on Santos (STO:ASX) have been inspired by a lesson from the WD Gann Stock Market Course where he teaches his Mechanical Stock Trading Method and tests it over a 15-year period in US Steel. In the last section of the lesson he covers a situation very similar to ours [...]

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ADB asks Sri Lanka to reduce size of budget
The Asian Development Bank on Friday asked Sri Lanka to prune the size of its budget to sustain economic stability as the island emerges from decades of ethnic conflict.
The Manila-based bank’s President Haruhiko Kuroda said [...]

Aussie Goldman clients may sue for $15m
GOLDMAN Sachs in Australia faces a potential $15 million lawsuit by former clients who have claimed the investment bank misrepresented complicated derivatives contracts that forced them to buy bluechip stocks at over-the-market odds.
Law firm Slater & Gordon said yesterday it was investigating allegations of misleading and deceptive conduct [...]

Australia’s tax battle over resources ‘golden goose’
Australia’s proposed new tax on mining profits has prompted a fierce struggle between the industry and the government for the extraordinary riches of the Asia-led commodities boom, analysts said.
Prime Minister Kevin Rudd’s plans to impose a 40 percent levy on the so-called “super profits” of resources firms was met [...]

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RIO Tinto has raised the stakes in the mining industry’s fight with Kevin Rudd over his new super tax by shelving its $11 billion expansion plans in Western Australia.
In a fresh blow to the Prime Minister’s tax reform plans, the mining giant said it would withdraw its plans [...]

AUSTRALIAN house prices are 50 per cent above fair value, warns the man who predicted the GFC.
Edward Chancellor, of US investment management firm GMO, says the Australian economy is yet to emerge from the global financial crisis, despite the widespread belief it has escaped the worst of it ahead of the rest of the world.
Mr [...]

Dr Phillip Low, a senior member of the Reserve Bank of Australia (RBA) recently announced that Australia’s relationship with China has decades to run.
“For the next twenty years, on average, it is going to be a good 20 years for China and for us”. Dr Lowe said.
However, on the other side of the world Jim [...]

Today I want to take a brief – very brief – look at China. You know China, that’s the economy to our north that saved Australia from economic death last year.
As you may have read in these pages before, don’t believe the hype about Australia’s resilient economy and sound banking system being the reasons why [...]