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The Federal Government has been criticized for breaking a key election promise on climate change. Kevin Rudd has delayed his emissions1 trading scheme until 2013, because it wouldn't pass the Senate. The Opposition2 says Kevin Rudd lacks conviction for choosing to shelve the emissions trading scheme.
The union representing telecommunications workers has condemned3 Telstra's plans to slash4 up to 900 jobs. Telstra has told workers that new technology and more efficient work practices, means their jobs are no longer needed. A Telstra spokesman has confirmed that around 900 jobs will go.
Stockmarkets in Europe and the US have dived as concern grows about Greece's ability to recover from debt. Shares fell more than 2 percent after credit rating agency Standard and Poor's downgraded Greek debt to junk status. This is the first time a eurozone member has lost its investment grading.
The chairman of a US Senate inquiry6 into America's financial crisis has attacked the role of investment bank Goldman Sachs. Senator Carl Levin spoke5 of the reckless greed that infected Wall Street's financial community. Senior banking7 executives are giving evidence before the hearing.
And Iceland’s airports have closed again because of the threat of volcanic8 ash. The closures were announced just 24 hours after the airports reopened to international traffic.
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