Australia property market is in danger

Note: This section contains information in English only.
Source: Marketwatch

Australia's real estate market showed signs of recession as construction level contracted essentially, according to official data. House building activity dropped by 10.7% in October after tumbling by 14.2% in September, reported Australian Bureau of Statistics. Housing starts decreased by 30% on a yearly basis. Analysts warn Australian real estate market resembles situation in the US before the property market crash.

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Fri, 02 Dec 2011 08:31:56 GMT

Honda recalls 304,000 vehicles due to airbag concerns

Honda announced it is going to recall 304,000 cars worldwide because of worries about faulty airbags. Quality check indicated that some models' airbags may burst due to problem with automatic inflators. There have been 20 accidents related to the matter so far, reported AP.

Fri, 02 Dec 2011 08:30:35 GMT

US Senate rejects decreasing Federal workforce to keep tax cuts

The US Senate denied the motion of Republicans to enlarge employee payroll tax reduction for 2012 while covering the cost of cut by 10% decrease in federal workforce and freezing federal workers' salary. Tonight's vote missed 60 votes necessary to approve the legislation. Tax reduction which eased employee's portion of Social Security tax from 6.2% to 4.2% expires December 31 this year

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