Sydney

Australian stocks tumble on Wall Street jitters

Australian stocks tumble on Wall Street jitters Sydney - The Australian share market gave up some of its recent gains Thursday as investors waited for the promised billion-dollar Wall Street bailout.

The ASX 200 fell 54 points, or 1 per cent, to 4,972.

The market was dragged down by resources stocks, on fears that a global recession will crimp demand for leading exports like coal and iron ore. BHP Billiton, the world's biggest mining company, was down 4 per cent.

Second Indian student pilot killed in Australia

Sydney, Sept. 25: A 20-year-old man, said to be from Mumbai, has was killed in a light plane crash in Sydney's west yesterday.

The aviation student is the second Indian national in a month to die in Australia while learning to fly.

The student, whose name was not released, crashed a Liberty XL2 single-engine aircraft into farmland at Luddenham just before 4.30 p. m., reports the Sydney Morning Herald.

He had moved to Sydney from Mumbai in January this year to undertake pilot training at the Sydney Flight Training Centre in Bankstown, Green Valley police said.

Last month student Akash Ananth, 24, also from India, was killed on his first solo flight over Melbourne on August 27.

Masters of the universe not all graduates

Sydney - Young people are always told to get a degree because a good education is a passport to a good job.

Up to a point.

Australian research on household income shows that those who skipped university and went straight into the workforce are not destined for dead-end jobs.

Melbourne University researchers have gone over census data and found that almost a quarter of men and almost 30 per cent of women who didn't complete high school were in the top half of the earnings scale in 2005.

Australian prisons not all that bad

Sydney - Australian prisons not all that badIt's not true that men who go to jail end up getting raped by sex-starved fellow inmates, research in Australia shows.

"We've shown that the whole belief that young and attractive people are likely to be raped in jail is a bit of a myth," Juliet Richters of Sydney's University of New South Wales said. "It's pretty safe these days, especially with the modern prisons with things like showers in cells."

Just 6 per cent of the male prisoners interviewed said they had had sexual contact, with 5 per cent of them saying sex was consensual.

Older cars more likely to be stolen

Sydney - It sounds like a question on an intelligence test: Why do today's car thieves target older vehicles with a resale value of just a few thousand dollars rather than ones that have that new car smell?

Figures from Australia show that they do. Three-quarters of stolen vehicles are over nine years old. Police reckon a car built in the 1970s is eight times more likely to disappear than the average vehicle.

RACV Insurance general manager Susan Allen said cars insured for less than 6,000 Australian dollars (5,000 US dollars) accounted for more than half of theft claims. Vehicles less than three years old accounted for only 4.5 per cent of claims.

Australian stocks snap winning streak

Australian stocks snap winning streakSydney - Australian shares gave up some of their recent gains Tuesday in response to an overnight plunge on Wall Street.

The ASX 200 lost 111 points, or 2.2 per cent, to trade at 4,798 by the middle of the session.

The downturn came after two days of gains that had seen the index climb almost 10 per cent. It was still down by a quarter from its peak in November.

Again, financial counters were the worst hit. Macquarie Group Ltd gave up more than 7 per cent after soaring 45 per cent in the previous two sessions.

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