Sydney

Computer glitch blamed for Qantas jet's dive

Qantas Boeing 747Sydney- A computer malfunction was Tuesday blamed for a Qantas passenger jet en route from Singapore to Perth plunging in altitude and injured 46 passengers a week ago.

The Airbus A330 serving the October 7 flight suddenly lost altitude and made an emergency landing at Learmonth military base, 1,260 kilometres north of Perth.

Credit crunch taking toll on couples Down Under

Sydney, Oct 14 : With the whole world facing credit crisis, a new survey has shown that the financial concerns are taking a heavy toll on couples Down Under.

Relationships Australia''s annual Relationships Indicators Survey has found that due to financial pressures, relationships between couples are on a downswing.

In fact, a large number of people have said that financial problems are a major stress, which has more than doubled in two years.

Conducted on 1,200 adults, the survey has found that 40 per cent of people have voted money troubles as a major pressure on their relationship.

The same figure stood at just 18 percent in 2006.

Australia gives its flagging economy a kick

Sydney - Australia gives its flagging economy a kick Around half of the Australian government's 21-billion-Australian-dollar (14.7-billion-US-dollar) surplus will be spent in trying to ward off a recession, Prime Minister Kevin Rudd said Tuesday.

To breathe life back into consumer spending habits, around a quarter of the country's adults will receive an early financial Christmas present that Rudd hopes will restore confidence and send them back to the shops.

Australian stocks rocket on Wall Street's lead

Australian stocks rocket on Wall Street's leadSydney - Australian stocks rocketed at the bell Tuesday in response to Wall Street registering its biggest one-day point gain on record.

In early trading, the ASX 200 gained 243 points, or 5.8 per cent, to 4,423.

The lift came ahead of an economic stimulus package expected to be worth 5 billion Australian dollars (3.5 billion US dollars).

The government is to draw down its 21-billion-Australian-dollar surplus to try to stave off a sharp slowdown in the domestic economy.

Imran says foreign cricketers safe in Pak because terrorists “will never target cricket”

Former Cricketer Imran KhanSydney, Oct 13 : In the backdrop of cancellation of several cricketing engagements in the current year by foreign teams citing security concerns, former Pakistan skipper Imran Khan has said that international cricketers should tour his country as they were safe from terror threats “because the game was so loved” there and that terrorists will never target the game or the players.

“I know that cricketers would never be under any threat from terrorists,” The News quoted Imran as saying in an interview with Australian Television.

Australian stocks perk up on bargain hunting

Australian stocks perk up on bargain huntingSydney - Australian stocks maintained their opening-bell rally to the close of trading Monday as investors picked up bargain-basement financials following Canberra's weekend decision to join other governments in guaranteeing bank deposits.

The ASX 200 gained 220 points, or 5.5 per cent, to 4,180.

High Street banks were in demand, with National Australia Bank and ANZ registering gains of almost 10 per cent.

Commsec economist Craig James said that bargain hunting would buoy the market following Friday's 8.3-per-cent crash, the biggest drop since 1987.

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