BUSINESS

Virgin Australia Back in Black as FY Profit Soars 134%

Efforts to lure corporate travellers from rival airliner Qantas Airways Ltd. had definitely paid off, as Virgin Australia Holdings Ltd., Australia's second-largest airline, posted a full-year profit of AU$22.8 million (US$23.6 million), up 134 per cent from the AU$67.8 million loss a year ago.
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Australian Stock Market Report – Afternoon 8/27/2012

Despite a positive start, the local share market closed slightly lower today with investors unwilling to take on too much risk ahead of an important week on the global front. Chinese shares fell to their lowest level in three and a half years, following a fall in profits from industrial companies. After rallying to an intra-day high of 4402.9pts, the local market closed down 3.6pts to 4372.9.

Australian Stock Market Report – Midday 8/27/2012

The Australian share market has regained some Friday´s lost ground today. On Friday night we saw the US market rallying higher on expectations the US Federal Reserve members stated they were willing to restimulate the US economy if needed and positive comment out of Asia. The All Ordinaries Index (XAO) opened up 24 points higher, but by lunch had given back a bit of ground, holding on to a 15 point gain at 4,391 points.

Perth Shops Now Open on Sundays, Holidays

Perth residents trooped to shopping malls and other retail outlets on Sunday for the first time as Western Australia's amended Sunday trading laws took effect on Aug 26.

Warning Signs For Platinum Investors

By Mike Kapsch, Investment U ResearchStrange happenings are afoot in the platinum market...Despite prices falling as much as 28% over the past year, investors are still betting heavily on further declines to come.

BHP to Hike Coal Output by 50%

BHP Billiton (ASX: BHP) may have shelved expansion plans at the Olympic Dam, but the mining giant is still on an expansion mode in other areas of operations. BHP Chief Executive Marius Kloppers disclosed on Sunday that the company will boost its coal output in Queensland by 50 per cent by hiking production at 10 per cent for the next two years.

Australian Stock Market Report – Afternoon 8/24/2012

The Australian sharemarket maintained its losses throughout the afternoon, to end lower for the third time this week. Despite the pullback, the local market has still improved for seven of the past nine trading weeks. Shares have jumped by 2 pct so far this month and are adding to July's 3.7 pct gains.

Ferguson Insists Mining Boom Not Yet Over in Australia

Minister for Resources Martin Ferguson belied on Friday speculations that Australia's mining boom is coming to an end. While recent decisions by resource companies indicate a slowdown based on shelving or cancellation of multibillion-dollar projects, there are many ongoing ventures as well as newly approved applications that show the sector is still robust.

The Case For Gold

Following a quiet summer, gold has just risen to four-month highs. BullionVault founder Paul Tustain puts the action in context.

Australian Stock Market Report – Afternoon 8/23/2012

Following a slight pullback yesterday, the Australian sharemarket managed to improve for the second time this week. The All Ordinaries Index (XAO) rose by 0.2 pct or 8.5 pts to 4411.8. The index is one of the most popular ways to measure market performance on the local sharemarket.

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