澳洲新闻 2009-07-01

（单词翻译）

The new financial year has ushered¹ in a new industrial relations system. Under the new regulations, small businesses with a hundred employees or less are no longer exempt² from unfair dismissal laws. There are several tax breaks too, the second highest bracket will be lowered from 40% to 38%, and the 30% tax bracket won’t kick in until someone is earning at least $35,000. But the government superannuation co-contribution rate has been cut from 150% to 100%.

New data shows that British economy has recorded its worst contraction³ in 51years. Official estimates that put the first quarter in negative territory have now been revised down to 2.4%. It’s also predicted that three million Britons will be out of work by the end of the year.

To the markets, US investors⁴ were spooked by falling consumer confidence. The Daw Jones shed nearly 1%. European market also lost ground. London’s FTSE closed 45 points weaker, and the DAX slumped⁵ more than 1.5%.

And checking the currencies, the Australian dollar is stronger against most of the majors and is buying 80.6 US cents.

And that’s ABC Business News.