BUSINESS

Caltex Australia Logs 13% Dip in First Half Profit

Caltex Australia reported on Tuesday a 13 per cent drop in first half profit due to the sharp decline of the Australian dollar, while fuel sales also suffered because of production outages at a Brisbane refinery and damage to a Sydney pipeline.
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Australian Stock Market Report – Midday 8/26/13

The Australian sharemarket has been modestly higher this morning, with the All Ordinaries Index (XAO) up 0.1 per cent at lunch. The XAO is trading above the 5100.0pt mark once again; something which has only happened a handful of times over the past two months.

The Federal Reserve’s Minutes Add to the Confusion

After all the pent up anxiety, the release last night was anticlimactic. 'We know little now that we didn't know going into the release of the minutes,' said Dave Meger, director of metals a Chicago trading firm quoted at News.com.au.

Following the Money

Australia's corporate behemoths are publishing results left right and centre. It's tough to know what to make of the deluge of information, and there's a lot of shuffling going on. But a few clear trends are emerging.

A Bond Market Tantrum

Earnings season continues...heavyweights including NAB, Coca-Cola Amatil and QBE all reported first half results today. But we'll leave all that for tomorrow once the dust has settled. There's something more important going on in a different market.

Heineken Profits Drops as Beer Sales Decline

Heineken NV (HEIA), the world's third-largest brewer delivered a dismal earnings report on Wednesday, saying its first half profit fell 17 percent because of bad weather, weak "consumer sentiment" in Europe and the United States, and sluggish growth in developing countries.

Kindle Fire Cuts Price Anew on Thursday; Fire HD 8.9 at $179

In a bid to eat a large slice of the tablet pie, particularly the share of Apple's iPad, Amazon kept on discounting their Kindle Fire tablet the past few weeks. On Thursday, Amazon cut anew the price of its refurbished Kindle Fire 8.9-inch model.

Australian Stock Market Report – Midday 8/23/13

The Australian share market is rebounding in early trade following a positive session on offshore markets overnight. The NASDAQ rose more than one per cent despite a computer glitch which stopped trading for three hours.

Apple (nasdaq:AAPL) Inc-China Mobile will Bring the iPhone 5C to the Mainland

Despite preparing for a launch of another version of the iPhone, it has been difficult for Cupertino-California based Apple to make its entry into China. The move to bring iPhone 5 to China was an arduous task. However, by teaming up with the nation's biggest telecom, China Mobile, Apple will be able to test its results by December 31, 2013.

Australian Stock Market Report – Afternoon 8/22/13

A better than expected reading on the health of China's manufacturing sector wasn't quite enough to push local shares into positive territory today. The All Ordinaries Index (XAO) slipped by 0.5 per cent, with the mining sector the biggest drag.

Bankers Profit at the Expense of the Broader Community

'CBA's record result delivers Narev $7.8m pay cheque' said a headline in the Business section of The Australian yesterday. According to the article, the CEO's salary package rose to $2.1m compared to last year. Nice work.

What the Bond Sell-Off Means for Stocks

Gold, stocks, bonds - all the major markets seem to have turned around in the last six months. Bond investors have been the worst hit. Many have losses of 20% or more. Surely, there are some major financial problems hidden beneath these figures. Sooner or later, they will show up in the headlines...with the announcement of bankruptcies and defaults.

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