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And consumer group Choice has welcomed moves by the Reserve Bank. The stock company’s profiteering from credit card transactions. From January next year, merchants will only be able to charge reasonable fees on transactions which reflect the cost of actually providing the service. The choice says the move will bring an end to what describes as excessive credit card surcharges. It says some companies have been using surcharges to raise revenue.
Spain’s economy’s continuing to struggle despite this week’s 125-billion-dollar euro zone bailout. The ratings agency Fitch says it’s downgraded another 18 Spanish banks just a day after cutting its ratings on the two biggest banks. The Fitch says it remains1 concerns the loan portfolio2 of certain banks will further deteriorate3 despite that bailout.
Let’s go to the markets. The Dow Jones closed up 163 points overnight. The Nasdaq put on 33; the S&P 500 15 points higher. And across in London, the FTSE was 41 points at the closing bill. Checking commodity prices, West Texas Crude is trading at $83.33 a barrel. Tapis Crude’s at $101.84 a barrel. And gold’s at $1610 an ounce. The Australian dollar is creeping back slowly towards parity4 with the US dollar. It’s almost up to 80 euro cents. And it’s also buying 64 pence sterling5.
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1 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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2 portfolio | |
n.公事包;文件夹;大臣及部长职位 | |
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3 deteriorate | |
v.变坏;恶化;退化 | |
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4 parity | |
n.平价,等价,比价,对等 | |
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5 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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