THE HEAD OF BUILDING PRODUCTS MAKER BORAL SAYS HE HAD NO CHOICE BUT TO SLASH THE COMPANY'S WORKFORCE IN ORDER TO STAY COMPETITIVE. THE COMPANY SAYS 700 JOBS WILL GO IN AUSTRALIA THE MAJORITY IN NSW. THE JOBS CUTS ARE EXPECTED TO SAVE THE COMPANY 90 MILLION DOLLARS ANNUALY. PETER JONES FROM THE MASTER BUILDERS ASSOCIATION SAYS MORE JOB CUTS ARE LIKELY IN THE CONSTRUCTION INDUSTRY.

INVESTORS HAVE WELCOMED JOB CUTS, SENDING THE STOCK UP TEN PER CENT TO AN 18 MONTH HIGH. THE BROADER MARKET ENDED HGIHER THE ASX 200 ADDED HALF A PER CENT. ACROSS THE REGION THE NIKKEI IS ERASING RECENT GAINS ON FEARS THE BANK OF JAPAN WON'T DELIVER ON STIMULUS PROMISES. LOOKING AT COMMODITIES AND THE DOLLAR IS HOLD AROUND 105 AND A HALF US CENTS.

QANTAS SAYS ITS ORDER FOR 15 BOEING DREAMLINER JETS REMAINS ON TRACK, DESPITE A STRING OF PROBLEMS WITH THE AIRCRAFT.

JAPAN'S TWO BIGGEST AIRLINES HAVE GROUNDED ALL THEIR DREAMLINERS AFTER ONE WAS FORCED INTO AN EMERGENCY LANDING WITH SMOKE IN THE CABIN

ITS THE LATEST IN A STRING OF INCIDENTS INCLUDING TWO FUEL LEAKS, AND A BRAKE MALFUNCTION.