European leaders are holding an emergency summit in a bid to resolve the continent’s debt crisis, with warnings that Australia could be impacted if a deal isn’t reached.
A first round of talks has spawned a plan to recapitalised banks exposed to debt-ridden countries, but there has yet to be agreement on a 100 billion euro proposal to boost market confidence.
Analysts have warned that Australia’s economy will suffer if Europe slides back into another recession.
RIM pushes back BlackBerry tablet update
The maker of the BlackBerry Playbook has pushed back an update to the tablet device until next year, after admitting that sales have been lower than expected.
Research In Motion said that the software upgrade will take place in February, with plans to allow businesses to manage their employees’ tablets from a centralised computer server.
Carbon tax “will cost $33.4 billion”
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The cost of the carbon tax to Australia’s top 200 countries will be $33.4 billion during the first decade, according to research cited by The Australian.
Of the costs, $14.6 billion is expected to be passed onto consumers, with the remaining $18.7 billion footed by businesses.
The Dow Jones industrial average was up 162.42 points, or 1.39%, to 11,869.04. The Australian dollar rose to 104 US cents.