Explosives and chemicals manufacturer Orica says while its exposure to the exchange rate is limited, the high dollar is “hollowing out” the rest of the economy and hurting manufacturers.
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Holden blames local manufacturing for $152m loss
Holden has posted its second-biggest financial loss ever, with the high dollar and restructuring costs hurting the bottom line.
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More help needed from Government: Orica boss
Explosives maker Orica has called on the Government to do more to help manufacturers struggling with rising costs and the high exchange rate.
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Canberra could intervene in exchange rate: Xenophon
Independent Senator Nick Xenophon is pushing for a Senate inquiry into the impact of the high Australian dollar after declaring it was “situation critical” for the manufacturing sector.
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Economy coping well with strong dollar: RBA
The Reserve Bank has continued to play down the impact of the high dollar, and claims the broader economy is coping well with the challenge.
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Cochlear returns to profit, but investors still wary
Hearing implants maker Cochlear has posted a $77.7 million profit for the six months to December 31, a sharp recovery from the same time last year when it made a costly mass recall.
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Australia’s heavy reliance on mining injures the dollar
Australia’s economy is vulnerable to a significant slowdown in the mining sector, a report from ratings agency Standard and Poor’s has warned.
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Manufacturers must adapt: Combet
Federal Industry Minister Greg Combet says manufacturers must adapt if they want to survive tougher economic conditions.
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IMF talks down fears over ‘currency wars’
The chief economist at the International Monetary Fund has talked down fears of a looming 'currency war' that could place further pressure on Australian manufacturers.
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