BUSINESS

World Bank Willing to Work with its Challenger Development Bank from BRICS

The World Bank on Tuesday said that it was ready to support the new development bank being established by Brazil, Russia, India, China and South Africa (BRICS), in a statement just hours after the groups of emerging nations reached a deal to challenge nearly seven decades of World Bank dominance.

Australian Stock Market Report – Afternoon 3-27-13

The local market steadily improved throughout the session to end around its highest level of the day. The All Ordinaries Index (XAO) jumped by 0.9 per cent, which has completely made up for yesterday's tumble.
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Australian Stock Market Report – Midday 3-27-13

Early trade on Wednesday has seen an improved tone compared to recent days. Investors have chosen to focus on the improved economic readings from the US in the last 24 hours rather than lingering European concerns. In Europe overnight there were modest gains for core markets (France, Germany, and UK etc.). Although financial stocks dragged the Spanish and Italian markets lower. In the aftermath of the Cypriot bailout, investors continue to reflect on the possibility that depositors could abandon...

T-Mobile Ditches 2-Year Mobile Phone Contracts to Regain Back Lost Buyers

T-Mobile, the fourth largest cellular network in the U.S., is attempting to change the rules of the game in the telecom industry by ditching the two-year mobile phone contracts. The company introduced on Tuesday a different pricing structure in a bid to regain 500,000 postpaid customers it had lost.

Australian Stock Market Report – Afternoon 3-26-13

Local stocks fell back into the red today, after the Dutch Finance Minister spooked investor sentiment claiming the Eurozone bailout for Cyprus could establish a template for other EU nations needing financial rescue. He then tried to backtrack, saying each case would be dealt with on a merit basis, but the damage was done with US markets closing lower.

Take It Or Leave It, Victorian State Teachers Told on Final Pay Offer

The state government of Victoria has appealed to its Victorian teachers to accept its latest and final counteroffer of 2.5 per cent a year pay rise over three years plus extra for productivity gains if only to put an end to their long-running industrial dispute as well as to avert the planned mass work stoppage by the teachers on April 30.

Australian Stock Market Report – Midday 3-26-13

Global markets have seen volatile trade in the last 24 hours. European stock indices rose in the early part of their session as investors celebrate the announcement of a Cypriot bailout. The celebrations were short lived. Market turned south after Eurogroup Chairman Dijsselbloem suggested that the Cypriot deal should be used as a template for future Eurozone bank "bail-ins". Previously rhetoric from officials had made the point that the Cypriot measures, particularly around depositors, wer...

3 Compelling Reasons to Get Sony’s PlayStation 3 Now

Sony’s latest gaming console, the PlayStation 4, will soon deliver its promised high-level and new entertainment environment but the box it will replace remains a must-buy and with the release of new titles plus more in the pipeline, a PlayStation 3 purchase today has never been more compelling.

Canberra CBD Up for Expansion, Australia Unveils

The state government of ACT on Tuesday unveiled plans to extend Canberra's central business district, which will include a set of new swimming facilities, residential apartments, commercial spaces, a convention centre and a sports stadium.

Too Early To Give Up On Big Asia

By Andrew NelsonThe focus has started to shift from Asia to the US as the hoped for driver of economic momentum, but Asia is by no means dead yet.

Uranium Steady But Subdued

By Greg PeelThe only nuclear reactors operating in Japan today are units 3 and 4 at Ohi. They restarted generation in June last year a following the government's reassessment of its nuclear power industry but preceding the establishment of a new Nuclear Regulatory Authority in the country.

Australian Stock Market Report – Afternoon 3-25-13

The tiny island nation of Cyprus appears to have secured a bailout, reaching a deal with its international creditors. It means Cyprus won't have to leave the Eurozone which has alleviated some contagion fears. As part of the deal, - Cyprus's second largest bank will be closed and the government will receive €10 billion in financing from the Eurozone. Today's breakthrough saw the Euro rise, along with Asian markets today.

Australian Stock Market Report – Midday 3-25-13

The Australian sharemarket is off to a positive start, with the All Ordinaries Index (XAO) up 0.6 per cent. We're coming off the back of the biggest weekly fall for the local market since May last year.

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