FOOD prices are soaring, a wealthier Asia is demanding better food and farmers can't keep up. In short, the world faces a food crisis and in some places it's already boiling over.

ENERGY costs could spiral up to 10 times current levels within a decade, Reserve Bank board member and ex-Woolworths chief Roger Corbett has warned.

THE central bank has today left official interest rates on hold at 7.25 per cent after its monthly board meeting as economic growth slows here and abroad, taking pressure off inflation.

CHRIS Murphy, the lawyer who won big on the horses and was reputed to be a high-rolling gambling associate of the late Kerry Packer, has taken a massive tumble.

Technology giant IBM has been temporarily suspended from seeking new business with US federal agencies, amid an investigation into possible procurement irregularities.

THE collapse of Opes Prime has widened into an investigation of false accounting of six key accounts worth $200 million to help clients to avoid margin calls.

SHAREHOLDERS have been selling down their Telstra T3 shares ahead of the May 29 deadline for the final instalment payment.

NEXT month's Budget will involve some pain but the Government is examining whether it should introduce paid maternity leave.

QANTAS will have $200 million wiped from its earnings when V Australia becomes fully operational, analysts believe.

RESERVE Bank Governor Glenn Stevens is a guitar-playing husband and father of two who lives in the Shire and loves to fly planes.

THE Reserve Bank board meeting in Melbourne today will have before it fresh evidence that its rate rises are slowing the economy but not yet reining in inflation.