AUSTRALIA

Australia ended a damaging dispute with global miners on Friday by dumping its planned super profits tax for a lower resources rent tax backed by big miners, clearing a major hurdle to calling an early election.

The dollar steadied on Friday after steep losses the previous day on growing concerns about the U.S. economy, with key U.S. non-farm payrolls data looming. The greenback hit its lowest this year against the yen below 87 yen on Thursday as market players covered short cross yen positions.

Sstock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures down 0.12 percent and Nasdaq 100 futures up 0.03 percent at 0745 GMT.

The dollar was on the back foot against the euro and slipped against the Aussie on Friday after a big euro short squeeze ahead of U.S. jobs data, while the yen lost ground all round as the squeeze spilled into Asian trade.

The dollar was on the back foot against the euro and slipped against the Aussie on Friday after a big euro short squeeze ahead of U.S. jobs data, while the yen lost ground all round as the squeeze spilled into Asian trade.

The AUD has opened slightly firmer today after it was announced the government and the mining industry had reached a deal on the new profits tax late yesterday.

Asian and European manufacturing output growth cooled further in June, with China hitting its slowest pace in more than a year -- further evidence that the global economic recovery is moderating.

Asian stocks and commodities fell while U.S. Treasury futures rose to a 14-month high on Thursday, after manufacturing data showed China's rapid economic growth was slowing, increasing fears of a global double dip.

The euro hit a record low against the Swiss franc and the Australian dollar also fell on Thursday as weaker-than-expected Chinese data added to doubts about the strength of the global recovery. The Chinese data sparked selling in higher-yielding currencies, with one trader saying low liquidity and short-term speculators taking punts on the euro against the Swiss franc and the Australian dollar against the yen added to the volatility.

Asian stocks and commodities began the second half of the year on a sour note on Thursday, with Japanese stocks sliding to a seven-month low after manufacturing data showed China's rapid economic growth was slowing.

Health regulators will soon be taking out baby bottles that contains chemicals in Australian stores.

Opposition leader Tony Abbot's election pledge of $1.5 billion to boost mental health services were received warmly by experts.

Renewed concerns over the outlook for global growth have spurred another sell off in the commodity currencies, sending the AUD back through USD0.8400 overnight.

The International Business Times last week held an exclusive interview with Todd B. Crosland, Chairman and President of Interbank FX, one of the most exciting Forex brokers in the US.

New South Wales may be losing their technology chiefs as Stephen Wilson will step down on his post as the Department of Education and Training chief information officer.

Several residents in Tasmania expressed their concerns in one of the area's water supply against toxic waste from plantations.

The Australian Dollar fell two US cents as markets reacted to evidence of a slowing in the global economic recovery.

Several health groups have commended the move for Victoria to disclose the numbers of calories itno their food by major fast food outlets in 2012.

Australian Prime Minister Julia Gillard said she was confident of resolving a dispute with miners over a controversial tax, amid speculation she could call an election within weeks to capitalize on a government surge in opinion polls.

A Queensland Brain Institute neuroscientist received an honor for his research into attention deficit hyperactivity disorder (ADHD) from the Academy of the Social Sciences in Australia (ASSA).

The AUD has finished marginally lower as the currency followed the movements of US equity markets during the offshore session.