U.S. payroll numbers in June back the case for the Federal Reserve to start tapering stimulus in September, according to Warren Hogan, the Sydney-based chief economist at ANZ Banking Group Ltd. He spoke in an interview with Susan Li on Bloomberg Television.
Australia, the third-biggest wheat exporter, should welcome overseas investment in its agricultural industries to improve infrastructure and efficiency as Asian food demand climbs, said Agriculture Minister Joel Fitzgibbon.
Chris Bowen, a key backer of returned Prime Minister Kevin Rudd, was sworn in as Australia’s third treasurer in 17 years and faces the challenge of reviving a slowing economy as a mining-investment boom wanes.
Australia & New Zealand Banking Group Ltd. started a second bullion vault in Asia to cater for growing physical demand that the Melbourne-based company sees driving prices as much as 14 percent higher over two years.