BUSINESS

Global Markets Overview – June 16, 2014

US markets finished the week on a positive note and largely ignored the negative sentiment from Asia and Europe. Investors even brushed off some disappointing economic readings with PPI and consumer sentiment coming in below expectations. The most significant move on Friday was perhaps Japan's sharp reversal higher after Prime Minister Shinzo Abe suggested he is looking to start cutting corporate taxes in 2015. Abe reached an agreement with lawmakers and this helped Japanese equities rally, d...
Recession in 2014? Why Experts are Predicting a Stock Market Crash in 2014

Australian Stock Market Report – Morning June 16, 2014

In US economic data, producer prices fell by 0.2% in May with the core measure (excludes food and energy) down by 0.1%. Economists had expected 0.1% gains for both measures. Consumer sentiment fell from 81.9 to 81.2 in June, below forecasts centred on 83.0.
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Australian Stock Market Report – Midday June 13, 2014

The Australian sharemarket is losing ground for the third straight day and is at a two-month low due to a renewed focus on Iraq. President Obama hasn't ruled out the possibility of military action in the troubled nation. As expected sharemarkets and commodities have been pushed lower by the uncertainty. Looking ahead, plenty of Chinese data in the dying stages of the session will be in focus at 3.30pm (AEST) this afternoon.

Global Markets Overview – June 13, 2014

The near-term pullback in equities continued overnight, with investors focussing on developments in Iraq and a round of surprisingly weaker-than-expected US economic data. Tension in Iraq escalated, while US unemployment claims and retail sales came in below expectations. This gave investors an excuse to sell equities with sentiment relatively risk averse.
A couple hold hands as they walk through downtown Sydney with their shopping from Australian department store retailer Myer, March 6, 2014.

Australian Stock Market Report – Morning June 13, 2014

In US economic data, retail sales rose by 0.3% in May, short of forecasts for a 0.6% gain. But the April reading was revised up from +0.1% to +0.5%. Import and export prices rose by 0.1% in May. New claims for unemployment insurance rose by 4,000 to 317,000 in the latest week, above forecasts for a reading of near 310,000.

Australian Stock Market Report – Afternoon June 12, 2014

The ASX 200 ended lower for a second day on Thursday with sellers showing preference for the materials sectors, although most sectors ended in the red. The only sector to resist the efforts of sellers was the healthcare index which ended with a gain of 0.1%. Value today was solid with $4.3bln in shares changing hands.

Australian Stock Market Report – Midday June 12, 2014

The Australian sharemarket is easing for the second day, with worse than expected job statistics, global market weakness and a World Bank forecast dragging stocks lower. The All Ordinaries Index (XAO) is down 0.5 per cent, with only the utilities managing to rise slightly at lunch.
Pope Francis waves as he arrives to lead his weekly general audience at St. Peter's Square at the Vatican June 11, 2014. REUTERS/Giampiero Sposito (VATICAN - Tags: RELIGION)

Arms Dealers, Traffickers are World’s Harbingers of Doomsday – Pope Francis

Probably feeling refreshed and well-rested after a 2-day absence from the job, Pope Francis blasted the corrupt, slave laborers, arms manufacturers and human traffickers during his general audience on Wednesday. He described people or institutions producing weapons of war are "merchants of death" and therefore the world's harbingers of doomsday.

Global Markets Overview – June 12, 2014

Equities unwound overnight in a move that started in European trade. Data in the US was limited and as a result investors just chose to focus on a couple of negative headlines. The World Bank lowered its global growth forecast for 2014 to 2.8% (from 3.2%) and the shock Eric Cantor loss was among some of the headlines investors focused on.

Australian Stock Market Report – Morning June 12, 2014

In US economic data, the Federal Budget was in deficit by US$130 billion in May, in line with market expectations. New mortgage applications rose by 10.3% in the latest week with the purchase index up 9.3% and the refinancing index up 11%.

Australia Eyes Development of Crocodile Meat Industry

A green paper prepared by the Australian federal government proposes expanding the crocodile meat industry in the northern part of the country to have a larger cut of the global market.

Australian Stock Market Report – Afternoon June 11, 2014

The Australian share market was sold off today, as data revealed Australian consumers have the winter blues and following a lacklustre offshore lead. The All Ordinaries Index (XAO) closed down 16 points or 0.3 per cent to 5432.5 points.
New Zealand's Prime Minister John Key Smiles After the General Election in Auckland.

New Zealand Economy to Grow 3.5%; IMF Warns of Housing and China Slowdown

The International Monetary Fund (IMF) is expecting a 3.5 per cent growth for the New Zealand's economy for the year before going back to a 2.5 per cent average by 2016. According to the IMF, the country's economic expansion is being driven by favourable financial conditions, resurging construction activity, high commodity prices and a sufficient increase in immigration.

New Zealand 'Friendlier' to Start-Up Companies Than Australia

New Zealand is "more friendly" to start-up companies than Australia. Hobart native Craig Richardson is living proof of start-up success in New Zealand. When he left his home in Sydney to start his own tech company, he hasn't looked back since.
Pope Francis waves as he leads a special audience for members of CSI (Italian sport centres) in Saint Peter's Square at the Vatican June 7, 2014. REUTERS/Max Rossi (VATICAN - Tags: RELIGION TPX IMAGES OF THE DAY)

Pope Francis Takes Day Off, Nothing Major Says Vatican, Just Tired, Advisers Keen on Doomsday Conspiracy Mill

So Pope Francis isn't a man of steel or ironman after all. Or just so we thought? The incumbent spiritual leader of the 1.2-billion strong Roman Catholic church has for the very first time filed for a leave of absence from work since taking on the post in March 2013. Vatican assured believers and skeptics alike it was nothing major, just that the pope was tired.

Australian Stock Market Report – Midday June 11, 2014

The Australian market is under pressure at lunch, wiping out yesterday's modest gains. The All Ordinaries Index (XAO) is down 0.3 per cent, with weakness from the miners, industrials and energy stocks most substantial. Gains from two of the four major banks are helping minimise today's losses. Markets overnight ended flat, providing an uninspiring lead for local stocks.

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