By Greg PeelThe Dow rose 53 points or 0.4% while the S&P lost 0.1% to 1337 as the Nasdaq fell 0.4%.Why the disparity between indices last night? The answer is Apple.
Local stocks ended slightly lower today, recovering from heavy losses earlier in the day on the back of a tame inflation report. The core inflation data (CPI) was released today, showing a 0.5pct rise in the June quarter, for an annual increase of 1.2pct, showing inflation in Australia is well and truly contained. By close, the All Ordinaries Index (XAO) was down 9.8pts or 0.2pct to 4151.4, off its earlier lows of 4114pts.
The South Australian police busted the illegal operation of a group believed to be responsible for the $2 million theft of car parts owned by GM Holden, which were pilfered from the carmaker’s Salisbury East assembly facilities in Elizabeth.
The Australian share market opened lower this morning after overseas markets continued to fall overnight. The concerns over European debt, growth and miss management continue to rock market. Weaker than expected European manufacturing data and more drama in Greece also added to the pain.
The notion of a business on wheels is not exactly a fresh one but, by adding an unexpected element to the deal, it takes the concept of innovative marketing to a completely new level making it more mainstream.
According to some critical reports from the US Senate released on Monday, the Britain based bank HSBC has been handling drug money from some of the most secretive and notorious corners of the world including Iran, Syria, Saudi Arabia, Mexico and the Cayman Islands.
By Greg PeelAugust is statistically one of the worst months of the year for natural gas prices, which makes sense given August represents high summer for the bulk of the world's gas consumers.
According to the reports released by a popular Business Magazine on Monday, the economy of Japan led by the robust reconstruction and spending of the consumers is still recovering after the country was hit by an earthquake only last year.
Among the four buyers who have potentially moved on to the second stage in the bid for the insurance business of Aviva in Malaysia are companies like Manulife and Prudential Plc. According to reports from the sources the deal is worth nearly about 500 million dollars.
Adhering to the popular adage that the only things permanent in life are death, taxes and change, a recruitment firm listed the top qualities that employers look for in workers amid high unemployment rates in different parts of the world.
Apple practically confirmed Samsung’s stature as currently the biggest smartphone maker in the world but that reputation was tarnished, the tech giant insisted, when the South Korean firm “chose to compete by copying Apple.”
National Australia Bank (NAB) announced on Tuesday that it will increase on July 30 its interest rates on business loans by 20 basis points. The bank explained it had to hike rates because of strong competition for deposits and higher funding costs.
By Greg PeelThe Dow closed down 104 points or 0.8% while the S&P lost 0.9% to 1338 and the Nasdaq fell 0.
Local stocks managed to finish in positive territory today, as investors embraced better than expected Chinese economic data and as merger and acquisition activity boosted retail players. By close the All Ordinaries Index added 2pts to finish at 4161, a pretty positive outcome given the weak offshore lead and fact the market was trading down to the tune of half a percent at one stage during the day. The benchmark ASX 200 Index (XJO) added 4pts or 0.1pct to 4133.2.
New research predicts that by 2017 Australians will be spending $31.8 billion dollars per year on home-brand (also known as “private label” products or “supermarket brands”) products, which will account for more than 30% of supermarket sales. International business information research firm, IBISWorld, today released the results of its survey into private-label spending by Australians.
The Bill & Melinda Gates Foundation is once again busy funding efforts to promote the spread of the agricultural cancer that are genetically-modified (GM) crops, this time in the form of a $10 million grant it recently issued to a group of British scientists working on new GM crops that require no fertilizer.
he Australian share market remains in the red in the early session, but importantly the selling isn't as significant as what we saw on US and European markets overnight. Investors there sold out of equities on ongoing concerns about the Eurozone debt crisis and after companies missed earnings expectations, including bellwether McDonald's. Locally, investors are treading water ahead of the release of the flash HSBC manufacturing gauge out of China, and a speech by RBA Governor Glenn Stevens...
There is no stopping Apple and Samsung from waging their legal battles as top executives by both firms failed anew to seal a deal that could end their year-long conflict, according to reports by Reuters.
- Mining sector growth slowing- Government spending reversing- RBA easing- Non-mining the next growth driverBy Greg PeelEconomic forecaster BIS Shrapnel has just released its Long Term Forecasts 2012-2027 report in which it attempts to identify drivers for the Australian economy into the greater dis...
A day after Deloitte Access Economics warned that Australia's mining boom could end in the next two years, an economist said any decline would not be caused by lower levels of investment but by the mining tax.
More charges of Health Services Union (HSU) funds misuse were confirmed Monday on union officials, similar to charges made by HSU Executive President Kathy Jackson on embattled MP Craig Thomson.
A UBS forecast that banks in Australia would axe several thousands of positions over the next two years was validated by a National Australia Bank (NAB) executive on Monday.
By Andrew NelsonIt was yet another dull week on the spot uranium market last week, marked by slim volumes and another minor price decline.
The more than two weeks industrial action at Coles warehouse in Somerton, Melbourne finally ended on Monday night. The workers agreed to terminate their strike, lift the barricade and accept the wage increase offer from Toll Holdings, the operator of the largest warehouse of Coles in Australia.
By Greg PeelThe Dow closed down 101 points or 0.9% while the S&P lost 0.9% to 1350 and the Nasdaq fell 1.
European debt concerns once again weighed on investor sentiment today, causing the local share market to post its biggest once day loss since early June. After rising almost three percent over the course of last week, the best weekly gain since December, the share market today fell 1.7pct on the back of losses on European and US share markets. That was the biggest one day drop on our market since June 4th. Fears the European debt crisis continues to grow saw investors bail out of equities across...
Problems on its supply chain and early screen complaints apparently overwhelmed the normally cool internet giant as Google announced on Monday that will stop taking online orders for the hit Nexus 7 tablet.
China is still interested in the expansion of its own businesses in Africa. Hence at the summit held in Beijing, in which took part 50 African leaders, president Hu Jintao made an important announcement.
German safety pioneer Mercedes-Benz will start fitting inflatable rear passenger seatbelts to its vehicles, in a move that will make the brand the second automaker to employ the safety technology behind Ford.
The Australian share market opened weaker this morning after overseas markets sold off on Friday. Once again European debt concerns and a pull-back in global iron ore and coal prices along with end of week profit taking took its toll on markets.
