BUSINESS

Australian Stock Market Report – Midday 2/21/2013

The Australian share market opened lower this morning after a late trade selloff on US markets. US investors sold out of stocks and commodities after US Central Bank (Federal Reserve - FOMC) minutes from its January meeting showed policymaker´s held further discussions on slowing its bond buying program. The US Fed has been restimulating the US economy by buying bonds (basically printing money) and pushing it back into the economy, but if they reduce this program is could stall or slow growth. O...

Aldi and Lidl Topped Annual Survey While Tesco Ranked Lowest

Supermarket chains Aldi and Lidl topped the annual supermarket survey as they were voted second and third most favorite while rivals Morrisons and Sainsbury were left lagging behind. The survey, which was conducted among the UK's nine biggest supermarkets, named Tesco as the least favorite supermarket.
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Pre-MWC Leak: New LG Optimus F7, F5

The South Korean tech company LG keeps on teasing mobile phone enthusiasts about their new upcoming smartphones for the Mobile World Congress this February 2013 in Barcelona, Spain. LG released a video recently previewing what will the company show on MWC 2013 with several smartphone models named after letters – L for style, G for greatness, V for Vu, and F for freedom.

Qantas Offers Frequent Flyers 9 Different Currencies in Newly Launched Pre-paid Card

In a bid to rise from its financial quagmire, Australian flag carrier Qantas will issue in the third quarter of 2013 a pre-paid credit card which will load 9 different currencies.However, Qantas reported on Wednesday a bit of financial relief when it logged almost a triple first-half profit of $111 million.The credit card, which could also be used as a travel card in 35 million locations around the world that would earn holders points on eligible purchases, would be issued to 9 million ...

Australian Stock Market Report – Afternoon 2/20/2013

Local stocks closed at fresh four and a half year highs today, boosted by positive momentum in offshore markets and generally strong earnings results. The All Ordinaries Index (XAO) rose by 14pts or 0.3pct to 5115, its best level since early September 2008.

2013 Papal Conclave: The Usher of Apocalypse Doomsday?

A few days from now, or on Feb 28 to be exact, Pope Benedict XVI, the 265th pope, officially steps down as head of the secular Roman Catholic religion.From then it begins the month-long arduous process of choosing and electing the next pope of the world's 1 billion Catholics.

Australian Stock Market Report – Midday 2/20/2013

The Australian sharemarket is improving for the third straight day, with the All Ordinaries Index (XAO) up 0.3 per cent or 15.6 pts to 5116.6. This takes the gains so far in 2013 to 9.6 per cent. It isn't a huge surprise that markets are higher, with shares up close to 2 per cent overnight in Europe. This was partly thanks to some positive signs for the future outlook of the German economy.

All Hail As Macmillan Shakespeare Delivers

-Brokers raise earnings estimates-New JV in the UK-Solid leasing outlook-More organic growth to comeBy Eva BrocklehurstMacmillan Shakespeare ((MMS)), which provides workplace benefits administration services, has pleased brokers with its strong first half.

All Hail As McMillan Shakespeare Delivers

-Brokers raise earnings estimates-New JV in the UK-Solid leasing outlook-More organic growth to comeBy Eva BrocklehurstMcMillan Shakespeare ((MMS)), which provides workplace benefits administration services, has pleased brokers with its strong first half.

Australian Stock Market Report –Afternoon 2/19/2013

The Australian sharemarket has improved for the 15th time in 20 trading sessions, with the All Ordinaries Index (XAO) up 0.4 per cent or 18.1 pts to 5101.00. Local shares are now hovering around their best levels since August 2008. Global markets were quiet overnight due to the U.S President's Day public holiday which kept American markets closed.

Australia, New Zealand Plan $60M Trans-Tasman Submarine Cable

New Zealand's major telecoms players, Telecom, Vodafone and Telstra, announced on Tuesday that they have entered into a non-binding memorandum of understanding that would pave for the construction of a new $60 million worth fiber-optic cable connecting New Zealand with Australia. Opposition parties in the country immediately slammed the concept as furthering the already monopolistic nature of connectivity and pricing that they already have.

Australian Stock Market Report – Midday 2/19/2013

Local stocks are slightly firmer in the early session, consolidating four and a half year highs reached on the All Ordinaries Index (XAO) yesterday. It's a significant consolidation given Wall Street was closed overnight for Presidents' Day holiday and European markets closed in the red for a third consecutive session.

History Likes to Repeat Itself – Reader’s Digest is Once Again Bankrupt

In the darkness of the night on the 17th of February, RDA Holding Co., publisher of legendary Reader's Digest, filed for Chapter 11 protection to cut as much as $465 million in debt. It is the second bankruptcy of the over 90-year-old magazine in nearly four years. The publisher of Reader's Digest has informed that it will focus on electronic media as the shift from print to digital media is inevitable.

Gold Is Money: Central Bank Actions Send Clear Message

Germany recently made big news by announcing its plan to bring home part of its massive gold reserves. By retrieving 300 tons from New York and all 374 tons from Paris, 19% of its holdings - $36 billion worth - will be repatriated. By 2020, Deutsche Bundesbank expects to have 50% of its gold reserves stored in its Frankfurt vaults.

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