NSW: The main stories in today s Sydney newspapers = 4

AAP General News (Australia)
12-07-2000
NSW: The main stories in today s Sydney newspapers = 4

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: US Federal Reserve chairman Alan Greenspan has signalled that interest rates
might be cut to avoid a sharp economic downturn that could bring an end to the economy's
10-year expansion. A $20 billion bonanza looms for Australia's defence industries after
the federal government unveiled the most comprehensive revamp of defence strategy for
three decades. Australia's high net worth investors are being offered a raft of new property
investment products that promise higher returns and more sizzle than traditional trusts
or syndicates.

Page 3: Mining magnate Joseph Gutnick has launched defamation action against US weekly
magazine Barron's, claiming the publication imputed he had bought the silence of jailed
Victorian money launderer Nachum Goldberg.

World: Developing countries are set to enjoy a golden decade, says the World Bank's
new report on global prospects.

Business: Printing and magazine group PMP yesterday hung the "for sale" sign on its
non-core and underperforming assets and slashed its profit forecast for 2000-01, sending
its shares down 28 per cent.

Markets: Expectations of a cut in local interest rates were boosted yesterday by a
potent combination of tepid Australian business spending numbers and a warning from US
Federal Reserve chairman Alan Greenspan of the risk of a dramatic slowdown in US growth.

AAP jo/apm

KEYWORD: FRONTERS NSW 4 SYDNEY

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