SYDNEY�Australia's central bank cut interest rates for the second time this year, moving to shore up economic growth in the face of falling commodity prices and a China slowdown.
The Reserve Bank has cut interest rates by a quarter of a percentage point to a historic low of 2 per cent. If the cut is passed on in full, home-owners with a $350,000 mortgage will save more than $52 per month, according to AAP calculations.
FILE - This Oct. 8. 2014 photo shows a Wall Street address on the side of a building in New York. U.S. stocks opened higher Monday, May 4, 2015, pushing stocks to record levels, as investors assessed corporate earnings.
UBS Group AG, Switzerland's biggest bank, said net income in the first three months of the year almost doubled in a quarter that saw all divisions beat analyst estimates.
A new study finds that the Obama administration's controversial plan to cut climate-changing carbon dioxide emissions from coal-burning power plants could also reduce the number of premature deaths in the U.S.