According to a recent report, last year, customers shelled out $5 billion in bank fees. Due to worldwide recession, the interest rates were reduced. The customers wanted to derive benefit from the reduced interest rates. So, they shifted their loans from fixed to variable rates and thus, had to pay the fees.

Murray Darling Basin Authority is reassuring irrigators regarding the possible size of the entitlements cuts, which is set to implement during the new basin plan revelation, next month.

In a report, Wentworth Group of Concerned Scientists stated that Murray water availability should be reduced by 39% so that the river is kept vigorous.

It has been stated by the Sydney Airport Chief Executive, Russell Balding that he believes the AirAsiaX will very soon be approved for initiating flights between Kuala Lumpur and Australia's major cities.

AirAsia is the long distance development of the Malaysian-based low-cost carrier and has been functioning since two and a half years. The carrier presently serves three Australian cities namely Melbourne, Perth and the Gold Coast.

The unemployment rate of Australia is bound to rapidly decrease, as the country is creating jobs at very high speed. The rate is surprisingly at one job per 30 seconds i. e., two jobs per minute.

Queensland Government may have to face a legal action, as a Mining Company intending a $1.2 billion bauxite project on Western Cape York, is planning to sue the Government for ill-advising.

The Cape Alumina Company claims that with the announcement of Government's recent Wild Rivers Wenlock River, their project will be “no longer economically” feasible.

Clive Peeters Ltd. has shared that the Company is planning to undertake the sale of some portion of its business coupled with the abolition of 6 of its stores.

The closing of the 6 stores will cut a number of jobs in the Company. The decision came after the Company reported a loss worth $140 million, last month.