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Business News


BUSINESS AND FINANCE NEWS IS POWERED BY THE AUSTRALIAN |


Strong consumer confidence boosts dollar

Wed, 10 Mar 2010 06:55:35 GMT

THE Australian dollar closed higher after the release of a positive consumer confidence report as market expectations firmed in the lead up to labour force figures tomorrow.

Local stocks flat, miners weak

Wed, 10 Mar 2010 05:46:33 GMT

THE Australian sharemarket closed flat, as weaker mining stocks offset a stronger financial sector.

Shares close flat on housing data

Wed, 10 Mar 2010 05:41:40 GMT

THE share market closed flat after eight consecutive trading day gains, as weaker mining stocks offset a stronger financial sector.

Aurox shares jump on Atlas bid

Wed, 10 Mar 2010 05:41:28 GMT

JUNIOR Aurox Resources' shares soared more than 170 per cent today on Atlas Iron's $143 million bid for the company.

Fee pool for QR float to hit $50m

Wed, 10 Mar 2010 05:20:08 GMT

THE investment bank fee pool for the $4bn Queensland rail float will total around $50m with $45m being shared around the lead managers.

Bond market stirs to life with offers

Wed, 10 Mar 2010 04:59:02 GMT

AUSTRALIA'S debt market sparked into life today, including the first offer by a non-financial corporate since the middle of last year.

Orica sees $92m hit from tax ruling

Wed, 10 Mar 2010 04:22:07 GMT

ORICA said a court ruling today against it over a dispute with the tax office was likely to hit its after-tax profit by $92 million.

Tax case loss to cost Orica $92m more

Wed, 10 Mar 2010 04:16:43 GMT

ORICA says a defeat of an appeal in the Federal Court of an amended tax assessment will cost it a further $92 million.

Chinese exports soar for a third month

Wed, 10 Mar 2010 04:01:32 GMT

CHINA'S exports expanded 45.7 per cent in February for the third consecutive month of growth and at the fastest pace in three years.

Public servants 'pretended to be voicemail'

Wed, 10 Mar 2010 02:55:00 GMT

UK civil servants left behind during strike action claim they were ordered to pretend they were telephone answering machines to ease their workload.


Local stocks flat, miners weak

Wed, 10 Mar 2010 05:46:33 GMT

THE Australian sharemarket closed flat, as weaker mining stocks offset a stronger financial sector.

Aurox shares jump on Atlas bid

Wed, 10 Mar 2010 05:41:28 GMT

JUNIOR Aurox Resources' shares soared more than 170 per cent today on Atlas Iron's $143 million bid for the company.

Fee pool for QR float to hit $50m

Wed, 10 Mar 2010 05:20:08 GMT

THE investment bank fee pool for the $4bn Queensland rail float will total around $50m with $45m being shared around the lead managers.

Bond market stirs to life with offers

Wed, 10 Mar 2010 04:59:02 GMT

AUSTRALIA'S debt market sparked into life today, including the first offer by a non-financial corporate since the middle of last year.

Orica sees $92m hit from tax ruling

Wed, 10 Mar 2010 04:22:07 GMT

ORICA said a court ruling today against it over a dispute with the tax office was likely to hit its after-tax profit by $92 million.

Chinese exports soar for a third month

Wed, 10 Mar 2010 04:01:32 GMT

CHINA'S exports expanded 45.7 per cent in February for the third consecutive month of growth and at the fastest pace in three years.

Debate on Telstra split to proceed

Wed, 10 Mar 2010 02:45:36 GMT

AN attempt by the Opposition to halt Senate discussions on legislation designed to cleave Telstra in two has failed.

Alesco plunges 31pc on profit warning

Wed, 10 Mar 2010 01:12:01 GMT

ALESCO shares plunged 31 per cent today after the building products distributor sharply downgraded its full-year earnings forecast.

Demand for car finance slumps

Wed, 10 Mar 2010 00:34:31 GMT

DEMAND for vehicle finance has fallen below the level of a year ago as the rebound in car sales paints a false picture of recovery.

Consumers buoyant despite rate rise

Tue, 09 Mar 2010 23:43:40 GMT

AN index of consumer sentiment in Australia rose 0.2 per cent in March from February, brushing aside rising interest rates.


Local stocks flat, miners weak

Wed, 10 Mar 2010 05:46:33 GMT

THE Australian sharemarket closed flat, as weaker mining stocks offset a stronger financial sector.

Bond market stirs to life with offers

Wed, 10 Mar 2010 04:59:02 GMT

AUSTRALIA'S debt market sparked into life today, including the first offer by a non-financial corporate since the middle of last year.

Alesco plunges 31pc on profit warning

Wed, 10 Mar 2010 01:12:01 GMT

ALESCO shares plunged 31 per cent today after the building products distributor sharply downgraded its full-year earnings forecast.

Consumers buoyant despite rate rise

Tue, 09 Mar 2010 23:43:40 GMT

AN index of consumer sentiment in Australia rose 0.2 per cent in March from February, brushing aside rising interest rates.

Wall St gains as Nasdaq at 6-mth high

Tue, 09 Mar 2010 21:51:01 GMT

US stocks rose slightly today, led by telecommunications companies following the unveiling of a faster router from Cisco Systems.

Greece eyes bond markets for up to $26bn

Tue, 09 Mar 2010 21:36:58 GMT

GREECE will seek to raise a further $15 billion through one or two bond issues in March and is planning up to $11bn in a global bond.

Gold eases on $US strength, China

Tue, 09 Mar 2010 20:58:31 GMT

GOLD finished with a slight loss today after its was pressured early by a muscular US dollar and by comments from a Chinese official.

$A second favourite among hedge funds

Tue, 09 Mar 2010 19:42:34 GMT

THE US dollar is the favourite currency among hedge fund managers, with the Australian dollar a distant second, according to a survey.

Jump in job ads bolsters bourse

Tue, 09 Mar 2010 13:00:00 GMT

CONFIDENCE in the local economy buoyed equities.

SMSFs hoarding cash

Tue, 09 Mar 2010 13:00:00 GMT

INVESTORS with self-managed superannuation funds (SMSFs) say they will continue to hold a big proportion of their portfolios.


Aurox shares jump on Atlas bid

Wed, 10 Mar 2010 05:41:28 GMT

JUNIOR Aurox Resources' shares soared more than 170 per cent today on Atlas Iron's $143 million bid for the company.

Fee pool for QR float to hit $50m

Wed, 10 Mar 2010 05:20:08 GMT

THE investment bank fee pool for the $4bn Queensland rail float will total around $50m with $45m being shared around the lead managers.

Atlas and Aurox to merge

Tue, 09 Mar 2010 23:21:57 GMT

AUROX Resources and Atlas Iron have agreed to merge via a scheme of arrangement.

Gold eases on $US strength, China

Tue, 09 Mar 2010 20:58:31 GMT

GOLD finished with a slight loss today after its was pressured early by a muscular US dollar and by comments from a Chinese official.

Giants eye $1.3bn in AGL assets

Tue, 09 Mar 2010 13:00:00 GMT

ROYAL Dutch Shell and PetroChina's joint tilt for Arrow Energy could be followed up by a $1.3 billion bid for AGL's gas assets.

Miners can't get Bligh off her track

Tue, 09 Mar 2010 13:00:00 GMT

LIKE Margaret Thatcher, Anna Bligh is patently not one for the old U-turn.

Rinehart loses but mine war not over

Tue, 09 Mar 2010 13:00:00 GMT

Mining heiress Angela Bennett has won her battle against Gina Rinehart over one of the biggest iron ore deposits in the country.

OZ's $14m Azure deal

Tue, 09 Mar 2010 13:00:00 GMT

OZ Minerals has extended its copper reach into Latin America.

Dourado to spin off uranium

Tue, 09 Mar 2010 13:00:00 GMT

THE proposal comes as the miner faces further scrutiny from the ASX.

Mid-West junior comes of age

Tue, 09 Mar 2010 13:00:00 GMT

CASHMERE says it has a billion-tonne iron ore deposit.


Supply shortages likely

Mon, 15 Feb 2010 13:00:00 GMT

TWO years of resources growth have been lost globally because of project deferrals.

Europe worries batter resources

Fri, 05 Feb 2010 13:00:00 GMT

STOCKS and commodities were dumped yesterday on concerns that an emerging debt crisis in Europe would hamper the global economic recovery.

Macquarie still game for Sempra

Mon, 01 Feb 2010 13:00:00 GMT

MACQUARIE Group remains in the hunt for RBS Sempra, the commodities trader worth up to $4.3 billion.

Grains of hope as the world recovers

Fri, 29 Jan 2010 13:00:00 GMT

THE rising dollar has, however, limited returns to farmers.

Oil flat as stockpiles stifle demand

Thu, 28 Jan 2010 21:17:54 GMT

CRUDE futures ended flat, as weak oil demand kept bargain hunters out of a market battered by several weeks of steep declines.

Gold falls as traders buy US dollar

Thu, 28 Jan 2010 21:12:56 GMT

GOLD snapped back late in the pit session after hitting its lowest level in nearly three months as the US dollar strengthened.

Oil hits one-month low as demand wanes

Wed, 27 Jan 2010 21:11:30 GMT

CRUDE oil futures prices ended at a one-month low on fresh signs of continued weak US demand.

Gold slips as US dollar takes off

Wed, 27 Jan 2010 21:04:46 GMT

GOLD remains on the defensive in response to strength in the US dollar, although the metal trimmed its losses in after-hours trading. 

China lending fears weigh on oil

Tue, 26 Jan 2010 21:16:53 GMT

CRUDE oil fell on renewed concerns of a possible tightening in Chinese bank lending that could lead to slower demand growth.

Gold shines on US confidence boost

Tue, 26 Jan 2010 21:10:42 GMT

GOLD recovered from early weakness to close higher as a strong consumer-confidence reading helped restore risk appetite.


Demand for car finance slumps

Wed, 10 Mar 2010 00:34:31 GMT

DEMAND for vehicle finance has fallen below the level of a year ago as the rebound in car sales paints a false picture of recovery.

NAB, Virgin still keen on RBS UK assets

Tue, 09 Mar 2010 19:27:05 GMT

NAB and Richard Branson's Virgin Money remain in the running for RBS assets in Britain as rival Banco Santander steps up its interest.

Gen Y worst hit but stay resilient

Tue, 09 Mar 2010 13:00:00 GMT

THE global financial crisis hit younger Australians the hardest, with new data showing Gen Y got the lowest salary increases.

Investors move back to property

Tue, 09 Mar 2010 13:00:00 GMT

PROPERTY investors have returned in force to Australia's major capital cities.

Gen Y worst hit but stay resilient

Tue, 09 Mar 2010 13:00:00 GMT

THE global financial crisis hit younger Australians the hardest, with new data showing Gen Y got the lowest salary increases.

Mac analyst backs Stokes

Tue, 09 Mar 2010 13:00:00 GMT

KERRY Stokes's $3 billion bid to combine Seven with his industrial equipment business WesTrac has received a positive report from Macquarie.

Ex-funds man in strife

Tue, 09 Mar 2010 13:00:00 GMT

A FORMER senior Macquarie Bank funds manager has been caught trying to leave the country in defiance of a court order.

Targett drops ANZ suit

Tue, 09 Mar 2010 13:00:00 GMT

FORMER ANZ Bank senior executive Steve Targett appears to have walked away empty-handed from his three-year battle.

Rate rise bets lift as job ads soar

Tue, 09 Mar 2010 04:27:34 GMT

DRAMATIC growth in job advertising and a surge in business confidence have lifted the chances of another interest-rate rise in April.

Shorts target Prudential on AIA risks

Mon, 08 Mar 2010 20:01:20 GMT

PRUDENTIAL is racing to complete a Hong Kong listing amid renewed doubts that investors will back its $35.5 billion acquisition of AIA.


Wall St gains as Nasdaq at 6-mth high

Tue, 09 Mar 2010 21:51:01 GMT

US stocks rose slightly today, led by telecommunications companies following the unveiling of a faster router from Cisco Systems.

Greece eyes bond markets for up to $26bn

Tue, 09 Mar 2010 21:36:58 GMT

GREECE will seek to raise a further $15 billion through one or two bond issues in March and is planning up to $11bn in a global bond.

Gold eases on $US strength, China

Tue, 09 Mar 2010 20:58:31 GMT

GOLD finished with a slight loss today after its was pressured early by a muscular US dollar and by comments from a Chinese official.

$A second favourite among hedge funds

Tue, 09 Mar 2010 19:42:34 GMT

THE US dollar is the favourite currency among hedge fund managers, with the Australian dollar a distant second, according to a survey.

Jump in job ads bolsters bourse

Tue, 09 Mar 2010 13:00:00 GMT

CONFIDENCE in the local economy buoyed equities.

Wall St lower but Cisco contains fall

Mon, 08 Mar 2010 21:51:31 GMT

US stocks closed slightly lower today, led by healthcare shares, but Cisco soared on an impending announcement on internet speeds.

Gold eases as traders exit positions

Mon, 08 Mar 2010 20:55:14 GMT

GOLD closed lower today as traders sold positions and after the New York Federal Reserve’s announcement on repo counterparties.

Oil climbs to an eight-week high

Mon, 08 Mar 2010 20:39:23 GMT

OIL prices rose to an eight-week high today, lifted by a more upbeat outlook for the global economy.

Portugal cuts deep but doubts linger

Mon, 08 Mar 2010 19:39:50 GMT

PORTUGAL has made new budget cuts but economists are worried about its growth forecasts and Moody's has warned about its bank ratings.

Miners lead the bourse higher

Fri, 05 Mar 2010 13:00:00 GMT

AUSTRALIAN shares closed higher, with the big diversified miners leading the way.


HP sues Asian manufacturers

Tue, 09 Mar 2010 03:15:16 GMT

HEWLETT-PACKARD sued several Taiwanese and Hong Kong manufacturers for allegedly infringing patents and selling stolen products.

Essar seeks $US3bn via London listing

Mon, 08 Mar 2010 23:42:20 GMT

INDIA'S Essar Group plans to raise up to $US3 billion through a London listing to fund expansion in its power and refining businesses.

How to spot a workplace thief

Mon, 08 Mar 2010 01:02:53 GMT

IF your small business can't afford external resources for spotting employee fraud, consider doing some detective work of your own.

Wall Street bounces on jobs news

Fri, 05 Mar 2010 22:00:00 GMT

SIGNS of slowing job losses in the US have sparked the best one-day gain in stocks in more than two weeks.

No bank too big to fail

Fri, 05 Mar 2010 00:39:16 GMT

THE official overseeing the US Treasury's $US700 billion financial-rescue plan has said that no US bank is considered too big to fail.

Economic risks to top China's agenda

Thu, 04 Mar 2010 22:39:40 GMT

CHINA faces the challenge of explaining the gradual withdrawal of an enormous stimulus program amid concerns about a property bubble.

Lots of perks for 'underpaid' HSBC boss

Thu, 04 Mar 2010 22:18:50 GMT

THE bank says Michael Geoghegan's posting is a strategic move.

Greek bond offer attracts $22bn

Thu, 04 Mar 2010 21:26:59 GMT

THE Greek government's offering for a 10-year bond attracted about $22bn in bids, the country's debt-management agency said.

Chavez asks China for $US20bn loan

Thu, 04 Mar 2010 03:55:31 GMT

CHINA has become a valued funding source for recession-racked Venezuela, and a welcome alternative to a long-shunned IMF.

US probes hedge fund bets on euro

Wed, 03 Mar 2010 21:05:06 GMT

THE US has launched an investigation into whether hedge funds might have banded together to drive down the value of the euro.

 
 

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