Mining magnate Gina Rinehart is the 29th richest person in the world and the richest woman in the Asia Pacific region, according to Forbes magazine.
Forbes’ latest list of the world’s billionaires has ranked Rinehart as the only Australian to make the top 100.
Her fortune is estimated to be in the region of $US17 billion – still significantly short of the $US69 billion fortune of the world’s richest person, Carlos Slim.
Interest rate warning for SMEs
Small businesses borrowers may be faced with rising borrowing costs, following a warning by Westpac CEO Gail Kelly.
According to the Australian Financial Review, Kelly said that high funding costs and increased capital requirements will necessitate further interest rate rises, with the banks now more likely to break from the official RBA rate.
Women ditch corporate life for start-ups: Report
Increasing numbers of women are seeking to ditch their corporate careers and start-up businesses, according to new research.
The Australian Women Chamber of Commerce and Industry’s survey of 3000 female business owners found that nearly 80% had reached middle management positions in their corporate careers before going it alone, with a quarter saying that they experienced discrimination in their previous roles.
The Dow Jones Industrial Average rose 64.03 points, or 0.5%, to 12,901.36. The Australian dollar was up to 106.02 US cents.