Australia's Inflation Slows in November, But Core Sticky

Australian consumer prices rose by less than forecast in November, data showed on Wednesday, but core inflation showed enough stickiness that investors still saw a risk interest rates would have to be hiked as early as next month, Reuters reported. The Australian dollar initially slipped but was back to where it was, at $0.6734. Three-year government bond futures rose 5 ticks before giving up gains to be slightly lower on the day at 95.78. Investors still see a 33% risk that the Reserve Bank of Australia will be forced to hike rates again in February.
Australia
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Ekati Diamond Mine Gets $115M Canadian Loan, Avoids Bankruptcy

Ekati Diamond Mine is getting a $115 million loan from the Canadian government to continue operations at the mine and protect jobs, its owner announced Thursday, CBC.ca reported. Jeremy King, CEO of Australia-based Burgundy Diamond Mines, which owns Ekati, said his company was working in the background with the government of the Northwest Territories and came close to shutting the mine down "weeks ago." "We were in a very bleak, or stark, scenario," he said. "It was either this line or we were looking at bankruptcy and shutting the mine down," he said.
United Kingdom
Australia
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Zone RV Collapses in Latest Hit to Australian RV Industry

A major Australian caravan manufacturer has been plunged into voluntary administration just weeks before Christmas, according to the Daily Mail and multiple other reports. Zone RV has appointed administrators Cor Cordis to conduct an ‘urgent review’ of its operations and will continue trading in a ‘substantially reduced capacity,’ RVBusiness.com reported. The luxury off-road caravan company, based on Queensland‘s Sunshine Coast, informed 250 employees of their uncertain futures on Monday before sending them home. It’s understood staff are owed entitlements, including holiday pay.
Australia
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