The Australian economy is on the threshold of a major cyclical upswing, says leading economic forecaster, BIS Shrapnel. Growth will pick up speed over the next two years and build into a boom later this decade, driven by rolling investment cycles. BIS Shrapnels Long Term Forecasts, February 2010 Update reports the economy currently has enough spare capacity and slack in the labour markets to cater for the initial phase of the upswing without exciting either demand or cost-side pressures. However, the forecaster warns problems will occur in three-to-four years time when all the major construction cycles synchronise and inflationary pressures re-emerge, leading to higher interest rates.
Five Prime Trust directors found to a breach their duties when handing over $33 million to Bill Lewski
Corporate watchdog ASIC was successful in the Federal Court, obtaining a ruling that the five former directors of Prime Trust are liable for breaching their duties as officers of the trust APCHL. They agreed to the amendment of the Constitution of...