The Obama administration yesterday made a concerted push to boost confidence in downward-spiraling financial markets, assuring Americans that officials are taking the steps necessary to contain the worsening economic damage and to restore the nation's long-term fiscal health.

 

Manufacturer Pacific Brands may be about to get millions of dollars in Federal Government grants, just days after it axed 1,800 jobs across Australia.

The majority of the job losses are in Victoria, Queensland and New South Wales.

It has been revealed the company might be entitled to a refund for money it has already spent on research and development, and on manufacturing equipment.

Opposition frontbencher Tony Abbott has branded Kevin Rudd "the worst parliamentary performer as Prime Minister since Billy McMahon" as the Government and Opposition continue to spar over their respective performances in Federal Parliament.

Speaking to Sky News this morning, Mr Abbott was on the attack over Mr Rudd's parliamentary style.

"The guy is a toxic bore in the Parliament, and thank God you [Labor] have got [Julia] Gillard there," he said.

One could ask the question: how did the financial system got us into such a mess?

First one has to look at the value of anything and nothing…

On average: