The Prime Minister Kevin Rudd says signs of a global economic recovery are fragile, and the world still faces serious economic dangers. After a meeting with the German chancellor Angela Merkel, the Prime Minister said an economic turnaround could easily be reversed. Starting rising unemployment in Europe and the United States, the Prime Minister says that the recovery needs to be carefully managed. But he says the G20 is the best mechanism for coordinating a global response, rather than this week's G8 summit.

 

US investors didn’t need Kevin Rudd to tell them about the volatility. Stocks on Wall Street fell to their lowest level in more than two months. The prospect of a second government's stimulus plan has fueled fears that the economy isn't recovering as fast as first hoped. To the figures, the Dow slumped 161 points, and the NASDAQ lost 41. European stocks were also in the red, London's FTSE lost eight points. And the Australian dollar is buying 78.9 US cents.

 

The soft drink industry denies it’s blackmailing environmental groups over efforts to introduce a national recycling levy. Green groups want recycling to be funded by a levy on bottles and cans, and the Total Environment Centre says the packaging industry’s threatening to withdraw funding for those that support the proposal. But the Food and Grocery Council says the claims are false.

 

That's ABC Business News.

 


  • New Words
  • Pronunciation
  • Simple Meaning
  • fragile
  •  /ˈfrædʒaɪl/
  • weak and uncertain.
  • turnaround
  • /ˈtɜːnəraʊnd/
  • a situation in which sth changes from bad to good
  • reverse
  •  
  • to change sth completely so that it is the opposite of what it was before
  • summit
  •  /ˈsʌmɪt/
  • an official meeting or series of meetings between the leaders of two or more governments at which they discuss important matters
  • volatility
  • [ˌvɔləˈtiliti]
  • A situation that is volatile is likely to change suddenly and unexpectedly.
  • stock
  •  
  • a share that sb has bought in a company or business
  • stimulus
  •  
  • A stimulus is something that encourages activity in people or things.
  • fuel
  •  
  • to increase sth; to make sth stronger
  • slumpe
  •  
  • to sit or fall down heavily
  • blackmail
  •  
  • Blackmail is the action of threatening to reveal a secret about someone, unless they do something you tell them to do, such as giving you money.
  • levy
  • /ˈlevi/
  • A levy is a sum of money that you have to pay, for example as a tax to the government.
  • withdraw
  •  
  • If you withdraw something from a place, you remove it or take it away.
  • proposal
  •  
  • plan
  • Prime Minister
  •  
  • 总理
  • chancellor
  •  /ˈtʃɑːnsələ(r)/
  • 大臣；总理
  • DOW
  •   
  • 道琼斯工业指数
  • NASDAQ
  •   
  • 纳斯达克指数
  • FTSE
  •  
  • 英国富时指数
  • Food and Grocery Council
  •  /ˈɡrəʊsəri/   /ˈkaʊnsl/
  • 食品和杂货委员会