Research commission by the Australian industry group has found a carbon tax is the most effective and economically efficient way to reduce emissions, but the research also found Labor’s scheme risks falling short because other countries aren’t going as far.

 

Australia’s copper watchdog has brought criminal charges against the founder of a failed property group Westpoint. The businessman faces a maximum of five years’ jail if convicted. Westpoint collapsed in 2006, owing 4000 investors about 300,000,000 dollars. The Australian Securities and Investment Commission has charged founder Norm Carey along with company’s Secretary Graeme Rundle each breaching their duties.

 

And now to the market numbers and the local share market has ended the week with slight losses. The All Ordinaries shed 1/3 of a percent. It was a mixed session across the region. The Nikkei is trading higher. In the United States, stocks made gains for a fixed straight session recording their best week in nearly a year. The Dow was up about 168 points. And the Aussie dollar is buying around 108 US cents.