Australia slashed rates by more than expected Tuesday, to 5.25%, on fears that a damaging recession is coming. Simon Wong, from Standard Chartered Bank, analyzes the RBA's decision and considers the likeliness of further rate cuts.
Novartis is opening on Tuesday the country's first plant to produce flu vaccines using cell cultures. These vaccines are faster, better and cheaper to make than egg-based methods, reports CNBC's Mike Huckman.