Archive
Reuters blog archive
from Breakingviews:
Rest of world wishes for Australia’s economic woes
By Antony Currie
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own)
Listening to the Australians, you could be forgiven for thinking their economy is dead in the water - or about to be. The land Down Under has its problems, including a China-driven commodities downturn and an A$18 billion deficit ($17.9 billion) in this week’s budget announcement from Treasurer Wayne Swan, months after he projected a surplus. But the economy, now in its 22nd year of unbroken economic growth, still boasts the stability other countries only dream of.
Granted, it’s worrying that the country has been in the red since 2009 despite a giant commodities-driven trade boost. But politics drove that. The current Labor government - as well as the Liberal administration before 2007 - used the boom to finance pet projects and spent money to keep the country out of recession after the financial crisis.
The cost of all of this has hardly been severe. Swan’s deficit prediction for this year equates to just 1.1 percent of GDP, compared with around 4 percent in the United States and 6 percent in the United Kingdom.
from MuniLand:
Australia helps retail investors buy government bonds
Australia arguably has one of the best individual retirement systems in the world. The government-sponsored system - superannuation - requires mandatory employee and employer contributions to retirement savings. In certain need-based circumstances, the government may also contribute. Australians take funding their retirements seriously, and the government is giving them a powerful new tool to save by moving trading of government bonds onto the Australian Securities Exchange (ASX). From the government:
Deputy Prime Minister Wayne Swan and Minister for Financial Services Bill Shorten today announce that Australian Government Bonds (AGBs) will be available for trading on the Australian Securities Exchange for the first time on 21 May.
from Photographers Blog:
Panning for gold
Braidwood, Australia
By Daniel Munoz
For 59 year-old Wal Krikowa his hobby has become his passion. The recent volatility affecting gold prices is the least of his concerns. After decades of doing what he calls "the business", his passion for prospecting gold on weekends has remained unchanged. His experience tells him it all just comes down to luck. Worrying about whether he finds anything is just a waste of time.
Wal and his wife Liz always start their gold prospecting trips with a strict routine. I arrived at their beautiful house in North Canberra on a recent Saturday morning. We hit the road and a short time later we stopped at a local petrol station for what I first thought was a morning cup of coffee. But there was an different motive to this visit. Liz is hugely superstitious, and the stop was part of their ‘luck routine’ before prospecting. She admitted to me between sips of the local brew that another one of her superstitions is to place four soda cans into the same bag, the same way, at the same time before leaving the house. "Everything needs to be perfectly in place to find gold,” she said with a wry grin.
from Photographers Blog:
A necessary evil – the kangaroo cull
Canberra, Australia
By David Gray
I met Steven O’Donnell at his house in the outer suburbs of Canberra just before dusk. He had agreed to take me on what can be described as one of Australia’s most unpopular and controversial activities – kangaroo shooting.
FULL FOCUS GALLERY: A NIGHT ON THE KANGAROO CULL
By day Steve is a professional plumber, but by night he is a government-licensed kangaroo shooter whose job is to annually cull the kangaroo population, which is estimated at over 50 million. When we met Steve was quick to explain why the thousands of Eastern Grey Kangaroos, known locally as "roos" in the Australian Capital Territory, had to be culled. Mobs of kangaroos can quickly damage the environment and compete with livestock for scarce food, impacting the livelihood of farmers.
from The Great Debate:
Drone coalition: Key to U.S. security
The Pentagon’s biggest, most high-tech spy drone aircraft — one of the hottest items on the international arms market — is the key to a burgeoning robotic alliance among the United States, Japan, South Korea and Australia.
The RQ-4 Global Hawk, a $215 million, airliner-size Unmanned Aerial Vehicle (UAV) built by Northrop Grumman, could help this four-nation coalition monitor both China, as it increasingly flexes its military muscles, and North Korea, as it develops ever more sophisticated nuclear weapons.
from Photographers Blog:
This isn’t my first Mardi Gras
Sydney, Australia
By Tim Wimborne
Not many photographers look forward to shooting on the street on a wet Saturday night. This probably led to my 'big break' with the sole agency I had my eye on shooting for - more so than the months I had spent promoting myself as a potential Reuters stringer. And so I covered the 2001 Sydney Gay and Lesbian Mardi Gras Parade. I got there early, left late, carried too much gear, over shot and over filed.
Now, after a couple of years freelancing and then a decade as a staffer with assignments in dozens of countries, my time Down Under is up. This month I take on a new position with Reuters in Singapore. My last assignment in Australia? The 2013 Sydney Gay and Lesbian Mardi Gras Parade.
from MuniLand:
America should focus on rebuilding manufacturing
President Obama shut down his infamous “jobs council” at the end of January after very desultory efforts and no substantive outcomes. Reuters reports on what comes next:
In place of the jobs council, the administration said it will begin an expanded effort to work with the business community and other groups to boost economic growth, cut debt and fix a broken immigration system.
from Photographers Blog:
Blue + Yellow = Green
Sydney, Australia
By Daniel Munoz
I knew before it started, that trying to avoid the colorful powder would only make it worse. So, I decided to go all the way and get in close - deep and merciless.
As the clock struck 9 last Sunday morning, the official start of this fun run, I grabbed my two camera bodies and stepped into what was known as the ‘blue zone’. The first runners came towards me, and the fun began.
from Left field:
Domination in ODIs a thing of the past
Recent results in one-day cricket have not only made a mockery of the rankings but it has also injected some much-needed excitement in the format.
First, it was current No. 1 India, who lost to Pakistan (No. 6) at home, followed by third-ranked Australia, who fought hard to just level a series with visitors Sri Lanka. Then it was the turn of hosts South Africa to lose a three-match series to lower-ranked New Zealand.
from Breakingviews:
China’s role in Rio Tinto chief’s downfall
By John Foley
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Rio Tinto’s $38 billion purchase of aluminium producer Alcan has cost the company billions of dollars in write-downs, leading chief executive Tom Albanese to fall on his sword. But it’s not all Albanese’s fault. Rio’s biggest customer, China, shares some of the blame.
