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Today’s economic growth figures are expected to show growth is slowing. Most forecasts are expecting annual growth in the December quarter to have slowed from 2.7% to 2.5% which is the low trend. Experts say it’s due to falling mining investment and weak consumer spending. And the figures are expected to push the RBA into a rate cut in the coming month.
Well, the cost of sending letters will soon rise and delivery times will be slower under new plans for Australian post. The cost of a stamp will go up from 70 cents to one dollar, but concession1 card holders2 will still be offered a reduced rate of 60 cents. Communication Ministers Malcolm Turnbull has defended the changes, saying the Australians are sending one billion fewer letters than they were in 2008 with losses rising to more than 300 million dollars a year.
“The alternative is either massive subsidies3 which have run over a decade into 7 billion dollars of taxpayers’ money to keep the status pro-going or alternatively, abandoning the letters business altogether.”
And looking at the markets now, the Dow was down more than 0.5%. The Nasdaq and S&P 500 had also lost ground. In London, the FTSE was also trading lower. Checking commodity prices, West Texas Crude is trading at 50 US dollars a barrel. Tapis Crude is trading at 64 US dollars a barrel. And gold is trading at 1204 US dollars an ounce, while the Aussie dollar is buying 78 US cents, 70 euro cents and 51 pence sterling4.
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1 concession | |
n.让步,妥协;特许(权) | |
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2 holders | |
支持物( holder的名词复数 ); 持有者; (支票等)持有人; 支托(或握持)…之物 | |
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3 subsidies | |
n.补贴,津贴,补助金( subsidy的名词复数 ) | |
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4 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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