THE NEWS WRAP: US jobless rate hits four-year low

The supermarket milk price war looks set to continue, with Coles saying that it has no intention of returning prices to pre-discount levels.


Coles told The Australian that it expected milk to continue to be sold for $2 for two litres, extending its price war with Woolworths, which was the centre of an Australian Competition and Consumer Commission inquiry last year.


US jobless rate hits four-year low


The US’ jobless rate has fallen to a four-year low, raising hopes that the world’s largest economy is beginning to recover.


The unemployment rate fell by 50,000 in the last three months of 2011 to 352,000, close to the 350,000 level that economists say will signal strong job growth.


Wikipedia vows to continue Sopa protest


Wikipedia has ended its 24-hour “blackout” protest against anti-piracy proposals but has vowed to continue to fight the legislation.


The online encyclopaedia said that eight million of its visitors had contacted US politicians over the The Stop Online Piracy Act, leading to eight lawmakers dropping their support for the proposals.




The Dow Jones Industrial Average gained 18.54 points, or 0.2%, to 12,597.49. The Australian dollar was up to 104 US cents


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