Expedition Advisors Ltd., backed by New York-based Protege Partners LP, is returning investor capital in its Asia volatility hedge fund after losses.
Australia’s economy grew at the fastest pace in two years as surging exports and home building showed record-low borrowing costs are sustaining a 22-year expansion even as mining investment slows.
Australian home-building approvals declined in July by the most in almost a decade as mining dominated business investment last quarter, underscoring the nation’s two-speed economy.
Brisbane home prices plunged the most among Australian capital cities in 2011, as lagging demand weighed on an oversupplied market.
Australia has lost A$7.5 billion ($7.7 billion) in revenue since the October mid-year budget review due to its strong currency and lower terms of trade, worsening its budget position, Treasurer Wayne Swan said.
"Aussie consumers and businesses are borrowing-- but in a measured way."
- Craig James on Jan 04, 2015