In Australia it looks like we're doing more sinking than swimming...and we're not just talking about the Olympics.
Money, although most people don't view it as such, is technology.
We saw a big turnaround in market sentiment overnight. The excitement of more central banks stimulus was washed away by end of month trading and concern over weak employment and sales numbers out of Europe. European markets are still awaiting the outcome of The European Central Bank (EBC) meeting on Thursday. Overnight the news that the, 17 nation, Eurozone saw its unemployment rate climb to a new Euro-era high of 11.2% hit the markets hard.
Microsoft has unveiled plans to retire its Web-based e-mail service Hotmail, replacing it with the social media-integrated Outlook that is currently in preview play and readily accessible to millions of existing Microsoft e-mail patrons around the world.
Roy Hill Holdings, owned by Australia's richest woman Gina Rinehart, signed its first sales contract with a Chinese steelmaker to provide iron ore. Roy Hill inked in Beijing on Thursday the agreement with Shougang Group, one of the largest steel companies in China.
Based on an assessment of the cost of generating electricity using 40 different technologies until 2050, a report released on Tuesday identified nuclear and wind power as competitive energy alternatives to coal-fired power.
In an apparent confirmation that Australia's mining sector is moving on a slower lane, mining giant Rio Tinto (ASX: RIO) plans to cut jobs in Melbourne and close an office in Sydney.
FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons starts off his commentary on a regularly covered topic, the EUR/USD Weekly chart, pointing out the low reached last week is in an extremely important technical area of a prior weekly...
Tata Steel in Europe, which is the second largest steel producer in the continent, utters that there is a growing desperate need for a growth strategy in the U.K. so to overcome the problems in the industry. Dr Karl Kohler, chief executive of Tata Steel in Europe, admitted that he had experienced the toughest time in his 30 years and at the same time he called for the UK to remove the obstacles to economic growth.
Amazon.com Inc., a Seattle-based company, reported quarterly results. According to data, Amazon's sales growth had slowed down outside the U.S. and in addition, its profit margins had decreased as the company continued to invest in warehouses so that the delivery speeds would improve in the near future.
By Greg PeelThe Dow fell 64 points or 0.5% while the S&P lost 0.4% to 1379 and the Nasdaq dropped 0.2%.
The Australian sharemarket edged higher today for the fourth straight session, following strong gains in European markets overnight. The All Ordinaries Index (XAO) rose by 0.5 pct or 22.5 pts to 4289.4.
Once again European market rallied higher overnight, ahead of the outcome of The European Central Bank (EBC) meeting on Thursday. Then the market is expecting the ECB will announce new stimulus measures for the European economy. The US markets lost a little ground by the close as investors held back from buying ahead of the outcome of the US Federal Reserve´s 2 day meeting that kicks off later tonight.
By Greg PeelIn early 2008, world grain prices spiked as a variety of weather issues combined across the globe, from drought in Australia to floods and droughts elsewhere across the world's major grain growing areas.
He would have made a fine Yahoo ship captain but Ross Levinsohn, who twice missed the chance of becoming CEO of the Internet firm, is finally leaving the company that he served for close to two years.
There appears to be some truth to warnings from industry experts that the mining boom is headed for a slowdown. One evidence is that a new report released on Tuesday found that only one-fourth of Australian mining firms plan to invest in major projects in .the next 12 months.
Exxonmobil announced on Monday that it has started to drill for natural gas in Papua New Guinea (PNG) as part of its $15.7-billion PNG LNG venture. The drilling is at the Hides natural gas field at PNG's highlands.
By Andrew NelsonWhile spot prices continue to falter, many in the market are growing increasingly upbeat about the prospect for uranium prices and the share prices of producers.
By Greg PeelThe Dow fell 2 points while the S&P was flat at 1365 and the Nasdaq lost 0.4%.And then suddenly, nothing happened.
The Australian sharemarket improved for the third consecutive trading session today, with the All Ordinaries Index (XAO) up 0.8 pct or 32.5 pts to 4266.9. Almost all sectors ended the day higher, with the exception of the energy players which ended largely flat.
That Ford Australia recently slashed production to about 33,000 cars a year and laid off 440 employees are by means already telltale signs it will soon be padlocking the doors of its plants permanently in Australia.
Ford Australia has pledged to locally assemble vehicles in the country until 2016 and that’s it, according to an automotive industry expert, who added the exit of the global carmaker has been a foregone conclusion.
The smartphone market will continue to grow, analysts said, but at a slower pace compared to previous years when the gadget’s introduction reaped billions of revenue to key global players.
Once again global market rallied higher on Friday, boosted by renewed expectations that The European European Central Bank (EBC) will announce a new form of stimulus for the European markets when it meets on Thursday. On Friday night the German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Mario Monti all agreed more needs to be down to help stabilise the markets and the Euro. The market is now expecting this will mean that the ECB could resume its bonds...
While American households suffered a 30 per cent decline in their wealth for the six-year period 2004 to 2010, Australian households enjoyed a 20 per cent increase for the same time frame.
Due to soaring energy prices because of gas shortage caused by the export of coal seam gas (CSG) to Asia, Queensland residents are clamoring to reserve 15 per cent of the state's gas reserves for domestic use.
Asian Markets rallied on Friday due to reassurance made by European Central Bank President Mario Draghi that "the ECB is willing to do whatever it takes to preserve the euro," whilst Samsung Electronics noted record profit.
Japan based company; Toshiba Corp has made plans to cut down their production of flash memory chips by about 30% after facing problems of tumbling prices and oversupply of their chips. Toshiba is one standout performer among the battered chipmakers in the country of Japan.
After over a year of the scandal with the Murdoch's media empire in United Kingdom, Rupert Murdoch, aged 81, has decided to resign from a string of directorship controlling News Corporation' U.K. newspapers behind The Sun, The Times and The Sunday Times.
Thanks to a strong session, the Australian market finished the week a touch higher. The All Ordinaries Index (XAO) gained by 1.5 pct or 60.6 pts to 4234.4. The mining, energy and financial sectors all ended significantly higher, with some of the country's largest miners leading the way.
