BUSINESS

The Australian share market closed lower for a second consecutive session on Wednesday, taking weekly losses so far to 0.4 per cent. The All Ordinaries Index (XAO) closed lower by 17 points or 0.3 per cent to 5363.9 points.

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The Australian sharemarket has been modestly lower for the second consecutive session for most of the morning. A 1.5 per cent slump from the energy sector and weakness from the banks are holding stocks back most. The All Ordinaries Index (XAO) is now largely flat with the index off by just 0.2pts.

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Air Canada has ran into an expected delay in the delivery of its 251-seater Boeing 787 Dreamliner, forcing the airline to lease planes for three summer routes, including Spain and South America.

With Apple Inc expected to launch an iWatch later this year based on various reports, analysts have begun to speculate and make their own predictions as to how many wearable devices the iPhone maker can sell.

Equities were firmer overnight despite a mixed round of economic data. In the UK, CPI came in well below estimates while in Europe the ZEW economic sentiment readings for Germany and the region also disappointed. Perhaps the weak data prompted equities higher given investors are hoping to continue seeing stimulus in Europe and low rates in the UK. In US trade it was all about the much stronger-than-expected CPI print. The reading had the market talking that perhaps the Fed's inflation target ...

In US economic data, the consumer price index rose by 0.4% in May - the most in more than a year - while the core rate (excludes food and energy) rose by 0.3%. Economists were tipping 0.2% increases for both series. But housing starts fell by 6.5% to 1.001 million in May after rising by 13.2% in April. Economists had tipped a result near 1.034 million. And weekly chain store sales were up 3.5% on a year earlier, up from 3.3% in the previous week.

Morgan Ball, the director of BC Iron, said on Tuesday that the mood in Perth is apprehensive but pragmatic after iron ore prices dipped to its 2012 level of $89 per tonne.

Once again sellers have focussed their attention on the 5400 level for the ASX 200, and once again buyers have shown their willingness to defend the key psychological level. The lows of the session were made in the first half an hour of trade. Thereafter sellers retired for several hours and the index recovered to trade at the best levels of the day at 5417. With an afternoon largely free of event, the index retreated to end the session flat.

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The full strike threat of British Columbia's unionized teachers will now most likely push through after both the group and the B.C. government failed to settle wage offer negotiations over the weekend.

Canadian Securities Administrators on Monday warned investors to be cautious when investing in medical marijuana stocks.

Campbell Soup's (NYSE: CPB) share of the soup market is shrinking because of changing consumer food preference as more people opt for healthier fares. This, in turn, has benefitted private-label brands whose sales are now eating into the soup giant's sales.

All of Monday's improvements have been wiped out after two hours of trade this morning. Continued iron ore weakness, geopolitical concerns in Iraq and Russia together with a downgrade for US growth estimates are some of the major drivers. The All Ordinaries Index (XAO) is down 0.15 per cent, with the mining and energy sectors the worst performers.

From a business and investment standpoint, addiction rehab stocks are tricky because you don't want to offend anyone when covering the market potential of the targeted segment.

Natal, the Brazilian host city of this year's 2014 World Cup, has issued a flood alert after it received a whopping amount of water from two days of non-stop rains.

Oil giant Royal Dutch Shell is selling its majority shares in Woodside Petroleum for $5.32 billion after tax. That is equivalent to 157 million shares out of 190 million, in effect reducing its stake in the oil and gas company to 4.5 per cent from 23 per cent.

After a downbeat European session, sentiment managed to recover in US trade, despite a continuation of Iraq concerns. There was some positive data out of the US including the Empire State manufacturing index, industrial production and the NAHB housing market index. However, investors seem to be looking ahead to the Fed meeting. The IMF was also on the wires downgrading the US growth forecast for 2014 to 2% (from 2.8%) and maintained 2015 growth at 3%. Major currency pairs just continue to hold t...

In US economic data, the New York Federal Reserve manufacturing index rose from +19.01 to +19.28 in June, above forecasts for a result near +15. Industrial production rose by 0.6% in May, just above forecasts. And capital flows into the US totalled US$136.8 billion in April after the previous month recorded outflows of US$126.1bn.

Petra Diamonds has probably unearthed the largest diamond in its Cullinan mine in South Africa. It is a 122.52-carat rare blue diamond estimated to be worth £60 million.

It has been 100 days since Malaysia Airlines Flight 370 has gone missing on March 8, and yet authorities are still no closer to finding out the truth about its disappearance. As efforts to search for the vanished plane begin to wane, the frustrations of the 239 passengers and crew members’ families increase.

The Australian sharemarket rose only modestly today, with a lack of major data or corporate events keeping investors at bay. The All Ordinaries Index (XAO) rose by 0.1 per cent, with the recently underperforming miners managing to record healthy gains after four straight weeks of losses.

The Canadians, in commemoration of their country's 150th birthday in 2017, have handed a list to their government the top 10 greatest heroes that they consider worthy to be recognized.

The economy of New Zealand grew 1.1 per cent during the first three months of the year compared to 0.9 per cent in the fourth quarter of 2013. According to economists, the country's economy had probably accelerated during the first quarter of the construction and rebuilding in Christchurch.

More than 450 franchises are participating in the International Franchise Expo to be held on June 19 to 21 at the Jacob Javits Center in New York City. The event offers franchise business opportunities to entrepreneurs via 70 seminars and in-depth symposia.

Last Friday, Apple declared publicly that the company has launched a new program, which invites iPhone users to get a replacement of their iPhone chargers that are deemed to be faulty. This invite is applicable for iPhone users belonging to 37 different countries across the globe.