The Reserve Bank of Australia cut its key rate a quarter point as expected, saying there’s a risk below-average global growth slows further while at home the labour market is subdued and capital spending on resources is peaking. The central bank lowered the cash rate to 3 percent from 3.25 percent to “help to foster sustainable growth in demand and …

Powdered dairy products exporter Synlait Milk has turned in a maiden profit of $6.3 million for the year to July 31 and expects to seek fresh capital from its two shareholders as it pursues “further strongly profitable opportunities.” The Dunsandel-based processor added a further 20 supplier farms during the year and processed a total of 498 million litres of milk …

In an effort to try and connect with the public about his fiscal cliff message, US President Barack Obama did what had worked so well for him in his election campaigns – he tweeted. The President opted to connect directly with Americans about fiscal cliff negotiations by personally responding to select vocal detractors of his proposed solutions on taxes and spending. …