BUSINESS

Australian Banks: Floating on An Air of Invincibility

'My biggest worry is that millions of Australians are expecting money to be waiting for them that won't be there,' says Nick Hubble, your weekend editor and man behind the new Money for Life Letter, which launched earlier this week. If you haven't seen Nick's new film yet, you can check it out here.

Australian Stock Market Report – Midday 11/12/2012

The Australian sharemarket kicked off the new trading week in the red, with the All Ordinaries Index (XAO) down by as much as 0.3 per cent within the first half an hour of trade. From 11.30am (AEDT) onwards however; the XAO has managed to stage a recovery and is now largely flat. The local market has lost ground for three straight weeks.

Jump In Demand For Corporate Bonds?

By Greg PeelDanske Bank's base case scenario with respect to the US fiscal cliff is that a resolution will be reached in negotiations by year end.
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2-Hour IT Outage Causes Havoc at 4 Australian Airports

Passengers of Jetstar, Virgin Australia and Tiger Airways suffered on Saturday from chaos as the check-in system in Melbourne, Brisbane, Perth and Sydney Airport crashed for two hours due to a computer glitch.

Reasons To Be Positive On Uranium

Introduced by Greg PeelAt the end of October uranium industry consultant TradeTech dropped its spot price indicator for U3O8 by US$5.

Blizzard Raises its Outlook as it Hopes for Strong Holiday Shopping Season

Activision Blizzard Inc. posted its profit for the third quarter which exceeded analysts' estimates as company saw strong sales of its "Skylanders" and "Diablo" game titles. The largest video-game maker has also raised its full-year outlook as it expects strong holiday shopping season's sales of the latest game "Call of Duty."

Mr Market’s Turn to Vote

Stocks fell this morning. Hard. Last we checked, the Dow was down by more than 300 points. Gold dipped too, shaving $20 off the previous session's $45 per ounce gain. And energy prices were down across the board, with a barrel of oil trading just a touch above $85.

Pizza Hut Australia Website Hackers Gained Access to Customer Information

The famous pizza restaurant chain, Pizza Hut, reported a website-hacking incident where customer’s names, email addresses and contact information were leaked. Despite Pizza Hut’s claims that the customer’s credit card information was not affected, the unpleasant incident should serve as a lesson for the business to keep strict protection of its personal and financial records.

Australian Stock Market Report – Afternoon 11/9/2012

The Australian sharemarket ended in the red for the second straight day this week, with the All Ordinaries Index (XAO) slipping by just 0.4 per cent or 19.7 pts to 4482.5. The value of shares traded was significantly higher than usual today. Over the past five sessions local shares eased by just 0.15 per cent, making it the third consecutive week of losses. So far this month, the XAO is down 1.3 per cent; equities have still improved by 8.89 per cent in 2012 which is 4 per cent better than Ameri...

Why the Stock Market Couldn’t Care Less About Obama’s Win

We don't know. But if it's anything like the last four it will be full of meaningless sound bites, lies, trillion dollar deficits, and probably more bank bailouts. There was something genuinely depressing about the whole US election thing.

More Phablets Coming as Rivals React to Samsung Galaxy Note’s Success

Samsung leads the pack this time as reports emerged that rivals of the Asian tech giant have decided to counter the success of its Galaxy Note phablet, already on a second iteration that further stretched the device’s screen size, with of courses more potent specs.

The Superannuation Gravy Train

Did you see former Treasurer Peter Costello's article in yesterday's Age? He gets stuck into fund managers and all the other travellers on the superannuation gravy train. The 'super system' holds around $1.3 trillion in assets, so it's no surprise it's attracting plenty of hangers on.

Australian Stock Market Report – Midday 11/9/2012

Local stocks are trading in the red today, with most of the damage being done by Westpac (WBC and the National Australia Bank (NAB), which are trading without rights to their dividends. Overnight, US markets rose at the open then traded lower, as investors focused on the so-called "fiscal cliff" with tax increases and spending cuts to occur from the 1st January.

Gold Coast New Traffic Scheme Takes Effect in January 2013

Effective January 2013, the Queensland State Government will implement a "left turn red" traffic system at several selected intersections on the Gold Coast in a bid to reduce and improve the state's vehicular traffic flow.

The Cyber Phenomenon Called Instagram

To indicate the growing use of Instagram among social networking sites, in the Tuesday election in the U.S., over 100,000 photos taken with the photo application was tagged with #iVoted and 150,000 with #election2012.

One-Third of Google Workers Shun Posting in Google+ in a Month

While the role of Facebook and Twitter in helping elect and celebrate the Wednesday poll victory of U.S. President Barack Obama has once more been emphasised, the newbie social networking site Google+ appears quiet and out of the political equation.

Australia Mulls GST on Items Bought Abroad

The advantage enjoyed by online retailers based overseas over bricks and mortar stores insofar as Australian consumers are concerned may soon be removed. A plan by the federal government to collect the general sales tax (GST) for purchases abroad may just level the playing field for both kinds of retailers.

APRA: No Aussie Bank Would Collapse If There Is Another Global Economic Meltdown

A stress test conducted by the Australia Prudential Regulation Authority (APRA) showed that all major banks in the country passed it. APRA Chairman John Laker, in a Thursday speech in Brisbane, declared that another global economic meltdown would not result in significant losses for Aussie lenders.

Postcards From China

- Macquarie visits six Chinese cities- Finds a lack of stress- Canton Trade Fair figures down- Analysts see only modest 2013 export growthBy Greg PeelThe Chinese economy appears to have stabilised from its more rapid than expected slowdown over 2012, if iron ore prices and recent PMI data are anythi...

Australian Stock Market Report – Afternoon 11/8/2012

The Australian sharemarket fell for the first time in five sessions, with the All Ordinaries Index (XAO) slipping by 0.7 per cent or 32 pts to 4502.2. No sectors were spared from the selling; however local shares are coming off an impressive winning streak, with equities (shares) ending in the red for just two of the past nine sessions.

KLM, Etihad Codeshare on Flights from Australia to Europe

Abu Dhabi's flagship carrier Etihad Airways, which own 10 per cent of Virgin Australia, has entered into a codesharing agreement with KLM Royal Dutch Airlines to offer Australians greater accessibility and flexibility as they visit and tour Europe and its scenic spots.

Aussies Beware: Crafty Taxis, Private Hire Cars Use Rogue Smartphone Apps

Now that focus will gear more towards the fast-approaching Christmas season, the Australian Taxi Industry Association (ATIA) has warned commuters and consumers to refrain from using taxis or private cars for hire that used rogue smartphone apps to promote their services.

End of Suzuki’s American Dream

This is the end of Suzuki's American dream. American Suzuki Motor Corp. informed that it would file for Chapter 11 bankruptcy protection.

U.S. Jury Finds Apple Guilty of Patent Violation, Ordered to Pay $US368M+

Another legal setback for Apple as the tech giant was ordered Wednesday by a U.S. federal court in Texas to shell out more than $US368 million for patent infringement, stemming from the technology behind FaceTime, the video call feature that is a mainstay on Mac computers, iPhone and iPad.

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