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Australian Business Investment Unexpectedly Slumps


Aug.30 — Australian business investment unexpectedly dropped last quarter despite the broader economy showing solid growth. The Aussie dollar fell as data revealed that capital expenditures declined 2.5% in the three months through June. The Kiwi dollar is taking a bigger beating. Business confidence in New Zealand extended its decline with sentiment about the general economy sinking to its lowest level in a decade. Bloomberg’s David Finnerty reports on “Bloomberg Markets: European Open.”


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