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The business week in numbers

AAP logoAAP 23/12/2016

Australia hanging onto its triple-A credit rating, massive corporate fines and China troubling baby formula makers - here's some of the numbers that mattered this week.

MONDAY

2 per cent - That's the federal government's mid-year budget review forecast for economic growth in 2016/17. Growth was also forecast to remain below trend in 2017/18, but Australia managed to hold onto its prized Triple-A credit rating.

TUESDAY

$US300m - The amount German auto supplier Robert Bosch GmbH is expected to pay to settle a lawsuit filed by US car owners related to the Volkswagen pollution scandal. Diesel car owners sued Bosch in 2015 claiming the company helped design secret "defeat device" software that allowed VW to evade US emissions rules.

WEDNESDAY

1 month - The amount of time shares in infant formula producer Bellamy's Australia are likely to be held in a voluntary trading halt, amid falling sales in its vital Chinese market. The company sought an extension to the halt three weeks after its market value plunged by $500 million over a two day period. Bellamy's major supplier Bega Cheese and rival baby formula maker A2 Milk issued statements to reassure shareholders the Chinese market remains strong.

THURSDAY

11 per cent - Shares in magazine and catalogue printer PMP dropped sharply after the competition watchdog cast doubt on its proposed merger with rival printer IPMG. The ACCC is concerned the tie-up would reduce competition for the printing of magazines and catalogues, and is now seeking input from the industry before making a final ruling.

FRIDAY

$3m - Grooming retailer Shaver Shop says its December sales have been much weaker than expected, and by the end of the month could be up to $3 million lower than it had budgeted. The reason - poor sales of its gift giving products, particularly hair styling items, and the closure of a New Zealand store damaged by an earthquake in November.

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