NSW:Main stories in ABC's World Today

AAP General News (Australia)
08-03-2011
NSW:Main stories in ABC's World Today

SYDNEY, Aug 3 AAP - Main stories in ABC's World Today:

* Retail sales in Australia have fallen for a second consecutive month, dropping a
tenth of one per cent. Australian Bureau of Statistics figures show department stores
were the hardest hit by cautious spending.

* The Australian sharemarket this morning followed the lead of a poor performing US
stockmarket, which fell heavily overnight. The global sell-off was sparked by more disappointing
economic data out of the US despite the debt deal passing through Congress.

* US President Barack Obama today ended months of political debate by signing into
law a deal to raise America's borrowing limit and avoid a debt default. A special committee
will now decide where cuts need to be made to fulfil the deal, although the president
says he will still seek to increase taxes.

AAP ra/wjf

KEYWORD: MONITOR WORLD TODAY

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