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Australia’s push for a permanent seat at the top table has paid off. World leaders have announced the G20 will supersede1 the G8 as the world’s premier2 financial governance body. It's a win for the prime minister who has been arguing for months the G20 should be the driving power of major financial decisions. Kevin Rudd says it's a more representative body as it includes emerging powers such as China and India. The G20 is meeting in the US city of Pittsburgh for a two-day summit.
Twitter says it’s closed a deal for significant new funding. The 115-million-dollar investment is about twice as much as Twitter was reportedly expected to raise in its latest round of fund-raising. So far the social networking website has been unable to make money since its launch.
To the markets now, banking3 stocks have made gains after ANZ announced it’s swallowing ING’s stake in their joint4 wealth management and life insurance ventures.
The local market was buoyed5. The ASX closed 0.25% higher. But Wall Street fell for its third straight day on disappointing US housing and durable6 goods data. In London, gains in the pharmaceutical7 and energy stocks helped offset8 losses. And on Saturday morning the dollar was buying 86 US cents.
And that’s ABC Business News.
1 supersede | |
v.替代;充任 | |
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2 premier | |
adj.首要的;n.总理,首相 | |
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3 banking | |
n.银行业,银行学,金融业 | |
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4 joint | |
adj.联合的,共同的;n.关节,接合处;v.连接,贴合 | |
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5 buoyed | |
v.使浮起( buoy的过去式和过去分词 );支持;为…设浮标;振奋…的精神 | |
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6 durable | |
adj.持久的,耐久的 | |
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7 pharmaceutical | |
adj.药学的,药物的;药用的,药剂师的 | |
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8 offset | |
n.分支,补偿;v.抵消,补偿 | |
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