Midday Report for Tuesday 2 August 2011

12:35 PM.The Commerce Commission says it won't be carrying out a price control inquiry into the domestic milk market. Audio

12:26 PM.The veteran Australian lock Nathan Sharpe's Rugby World Cup hopes are in tatters after being dropped from the Wallabies squad for Saturday's tri nations and Bledisloe Cup test against the All Blacks… Read more Audio

12:17 PM.Wage growth doesn't keep pace with inflation, the US debt bill passes the first vote hurdle and the sharemarket slips. Audio

12:00 PM.The Commerce Commission rules out a milk price inquiry and the US House of Representative approves the debt ceiling bill a day before deadline. Audio