BUSINESS

Sony Cutting Down 10,000 Jobs

Sony Corp. announced that the company's plan of cutting down a total of 10,000 jobs which is equivalent to 6% of the global workforce. This strategy is said to be part of a new "restructuring plan" under the new president of the company.
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Spot Uranium Grafting

By Greg PeelThere appears to be no pressure at present on potential sellers of spot uranium to aggressively meet buying interest, and what buying interest there is remains discretionary, industry consultant TradeTech notes.

3 More Waiting Days for Trapped Peru Miners

Oscar Valdes, cabinet chief to Peruvian President Ollanta Humala, said on Tuesday that it would take about three more days before the nine trapped miners could be rescued.

Qatar is 3rd Largest Shareholder in Xstrata

Qatar became the third-largest stockholder of mining firm Xstrata after it bought 5 percent of the company's shares at $A2.65 billion. The purchase was made by the country's sovereign wealth fund.

Australia Stock Market- Morning Report 04/10/2012

In Australia, the NAB business survey and ANZ job ads survey are released. In China, March trade data is released. In the US, data on wholesale sales is released together with weekly chain store sales data. Alcoa kicks off the earnings season, releasing results after the bell on Tuesday.

The Economy: Retailing Again Weak

No joy for retailers from the latest sales data from the Australian Bureau of Statistics yesterday which showed a rise of just 0.2% in February.

Bonds: Too Much For Now, Or Too Little?

Government bonds had a tough first quarter, recording losses, and so far the second quarter is seeing a bit more of the same as market rates edge higher on signs the US economy is doing better than expected and the eurozone crisis has eased.

Interest Rates: RBA Sits, Again, Hints At May 1 Cut

It was a close run thing at yesterday's April meeting of the RBA board, a rate cut almost happened, judging by the significant change to the wording of the key part of the post meeting statement from Governor Glenn Stevens.

Corporates: Metcash Cuts Jobs, Restructures/OneSteel’s New Name

The weak retail sales data from the ABS helps explain why Metcash, the big grocery retailer and hardware and liquor distributor and retailer announced a big restructuring yesterday of its basic grocery distribution businesses and the write down of an investment in retailing in Queensland.

Australian Stock Market Report – Midday 4/5/2012

The Australian share market has started the final day of the shortened trading week on a negative note, as profit takers move in ahead of the Easter break and following weakness on offshore markets overnight. US and European markets retreated following a disappointing Spanish bond auction and as investors anxiously debated what markets would look like without more stimulus from the US Federal Reserve. In early trade on the local market, the All Ordinaries Index (XAO) is down 34.5pts or 0.8pct to...

Samsung Announces Delay for Samsung Galaxy Tab 2 Line

Korean-based firm Samsung announced that there will be a delay regarding the Samsung Galaxy Tab 2 line. The company announced that the Samsung Galaxy Tab 2 line will be likely to be available by the end of April, 2012.

Australian Exports Down 2% in February

Australia's exports declined 2 per cent in February which contributed to a trade deficit of $480 million. It is the second largest trade deficit for the country since early 2010.

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