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Rio Tinto today warned the new resources tax announced by the Federal Government could erode Australia’s competitiveness, severely curtail investment and limit jobs growth. Rio managing director Australia David Peever said the final design and implementation of the additional resources tax was crucial to ensuring unintended consequences didn’t filter through to other sectors of the national economy.

Ratings agency Fitch says the federal government’s suggested mining super profits tax won’t trigger a downgrade for resource giants BHP Billiton and Rio Tinto. ‘’Fitch doesn’t anticipate any downgrades solely as a result of the potential implementation of this new tax'’ said Fitch corporate ratings senior director Julian Crush in a statement. Fitch continues to rate BHP ‘’A+/stable'’ and Rio Tinto ‘’A-/stable'’. (Read the article)

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Link your registered Woolworths Everyday Rewards card to your Qantas Frequent Flyer membership at the Everyday Rewards website between 26 October and 24 December 2009, and you will get 250 bonus Qantas Frequent Flyer points.

You can also earn 1 point per dollar spent over $30* spent in one transaction at Woolworths/Safeway Supermarkets and BWS stores (excluding Tasmania) and BIG W stores. You can earn 1 point per dollar spent over $50* in one transaction at Dick Smith and Tandy stores (excluding franchisee and resellers stores). Redeem your points for Award flights on Qantas, Jetstar or 23 airline partners and for over 1,000 items including Wolworths Gift Cards in the online Qantas Frequent Flyer store.

Once you have registered your Everyday Rewards card  you also can track your fuel savings offers.
It’s now even easier for you to redeem your fuel saving offers - by storing them conveniently on your Everyday Rewards card.

• Present your Everyday Reward card in a Woolworths or Safeway Supermarket and Liquor (excluding Tasmania) or BIG W store and when you spend the advertised qualifying amount in a single transaction your fuel saving offer will be electronically loaded onto your woolworthes everyday rewards card.

• Simply present your woolie Everyday Rewards card before paying for your fuel at any participating CALTEX woolwoths or CALTEX SAFEWAY co-branded outlets. Your stored fuel e voucher will automatically be deducted from the price of your fuel.

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Woolworths to enter $24 billion hardware sector
− Grows local independent retail hardware sector via acquisition of Danks
− Launches destination home improvement store network
− Announces JV with leading US home improvement retailer Lowe’s

The Board of Woolworths Limited (Woolworths) has approved plans for the company to enter the $24 billion plus hardware sector with a multi format strategy designed to meet the everyday home improvement needs of Australian consumers.

First Coles and Woolworths compete in the supermarket aisles. Then the competition moved further into the bottle shop, and also service station sector. Now they will compete again in Retail Hardware sector or home improvement sector.

This fresh new home improvement offer will be based on a combination of significant local and international industry expertise, the right range representing value and choice; and a mix of convenient traditional hardware store formats and large destination home improvement stores to broaden consumer choice.

(Read the article)

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Get $600 Free brokerage by Open a CommSec account and start trading. the sooner you trade, the more you will save money.  Be sure to apply and open your account before 31 August 2009 to take advantage of this offer.

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CommSec Cash Account:
An everyday transaction account that earns 0.25%pa on every dollar when the balance is $5,000 or more.When you settle your trades directly from this account, you will  save money on your brokerage with internet trades as low as $19.95*.

CommSec Investment Account:
A high interest account that earns 4.00%pa^ that’s linked to your CommSec Cash Account so that you can access and transfer funds instantly to take advantage of market opportunities.

CommSec Debit MasterCard®:
You’ll also receive a CommSec Debit MasterCard® which gives you fee-free access to your cash in your ComSec Cash Account via Commonwealth Bank ATMs in Australia. (Read the article)

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National Australia Bank has agreed to buy Aviva Australia, Australian  insurance and wealth management business for $825 million. This acquisition is expected to be earnings per share and  return on equity accretive in the first full year following acquisition (excluding estimated integration costs).

NAB won the bidding process for Aviva’s assets, with AMP missing out. Chief  executive Cameron Clyne said NAB is looking to expand its MLC division’s business and that the acquisition would help it in this  regard.

This acquisition also will enhance National Bank offering in key wealth management segments including insurance and investment  platforms, adding scale, efficiency and new capabilities to their  operations. The company said it plans to use the funds to cut down its  debts, which currently stand at about $4.9 billion.
(Read the article)

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