US jobless claims held steady at 351,000 last week - marking the lowest reading since March 2008.
By Greg PeelThe Dow rose 46 points or 0.4% while the S&P gained 0.4% to 1363 and the Nasdaq added 0.8%.
An official of the Reserve Bank of Australia (RBA) lauded the high-quality lending practices of the country's banks which helped avoid a subprime housing slump similar to what happened in the U.S.
Santos, a coal seam gas (CSG) mining company in Australia, admitted committing environmental errors in its Pilliga East State Forest operations. In a report to the New South Wales government which contained a review of its drilling operation, Santos said there were many instances of pollution, including leaks and spills, that were reported.
Virgin Australia has benefited from the months-long labour dispute at Qantas by registering a first half profit of $51.8 million. It is more than double the $23.8 million the air carrier had compared to the same period a year ago.
The Australian share market is trading lower at lunchtime in the East, following an unconvincing lead from offshore markets and due to a lack of major economic data to guide investor sentiment. The All Ordinaries Index (XAO) is down 19.2pts or 0.4pct to 4352.9.
Australian consumers are forewarned of a fake telephone survey with the aim of defrauding them using their own bank accounts and other information.
Luxury retailer David Jones reported on Thursday sales result that best reflects the generally sombre mood of the local retail industry. The numbers offered a snapshot of what to expect for the rest of the year.
Crescent Wealth, Australia's first Islamic wealth manager, announced on Thursday that it has entered into an agreement with Saturna Sdn Bhd (a wholly-owned subsidiary of US based Saturna Capital) to act as the portfolio manager to the Crescent International Equity Fund to be launched later this year.
The New Zealand dollar fell after European Union finance ministers handed Greece a 130 billion euro lifeline to avoid bankruptcy in March, the New Zealand Herald reported.
US existing home sales rose by 4.3pct in January to a 20-month high of 4.57 million, slightly below market expectations.
By Greg PeelThe Dow closed down 27 points or 0.2% while the S&P lost 0.3% to 1357 and the Nasdaq dropped 0.
The Mobile World Congress is kicking off in a week and most of the buzz about the new mobile devices center on which companies are announcing 4G LTE devices. LTE technology is set to overtake 3.5G as the dominant category in wireless infrastructure so mobile phone manufacturers are racing to provide phones that support 4G LTE technology.
SR Exports, Australia's largest producer of tomatoes, blamed on Wednesday the country's supermarket giants for their poor business which led to the agricultural company's voluntary administration and loss of 60 jobs.
The much-awaited update for Research in Motion's (RIM) PlayBook tablet computer finally arrived this week, which allows the device to process email independently.
The Minerals Council of Australia is supporting the minerals resource rent tax. Mitch Hooke, chief of the council, told a Senate hearing in Canberra on Tuesday that the proposed 30 per cent tax on profits of large coal and iron producers is workable.
About 2,700 small enterprises folded up in Australia in the last quarter of 2011, indicating the weak national economy outside the booming mining sector.
The Australian share market is trading flat in the early session, after US and European share markets failed to rally overnight, despite Eurozone officials approving the second Greek bailout deal. At lunchtime in the East, the All Ordinaries Index (XAO) is lower by 4.2pts or 0.1pct to 4364.
Noisy drivers are the biggest neighbourhood nuisances in Australia, with dangerous drivers running a close second.
Four profits yesterday from companies of varying sizes illustrate the current state of the Australian economy, and where the profits, revenue growth and pain are occurring.
Just a suggestion that OneSteel, in seeking a new name, might be about to ditch its low profit steel making business, was enough to send the shares up more than 12% by the close yesterday.
Alcoa clarified on Tuesday media reports that it has offered Point Henry smelter workers job offers in Saudi Arabia to work in a joint venture project.
A fitful reaction from the markets to the news that the second bailout of Greece is much closer after eurozone finance ministers agreed to the latest bailout package.
Financial regulators in the US could finally be ready to switch the financial reporting measures for US companies to the globally accepted standards for accounting.
The U.S. and Mexico have reached a cooperative agreement for oil and gas drilling along the maritime border in the Gulf of Mexico, ending years of negotiation that has left the area untapped for more than a decade.
Foxconn Technology said this weekend that it would increase worker salaries at its Chinese factories by as much as 16 to 25 percent as it faces intense public scrutiny over the working conditions in at its factories.
The Dow Jones Industrial Average pierced the 13000 level for the first time since before the financial crisis, but traded largely below the mark during a choppy session in which stocks were negative at times. The Dow broke 13,000 before noon Tuesday and a handful of other times throughout the day, but was down 17 points, or 0.1%, at 12933 in afternoon trading.
By Greg PeelThe Dow closed up 15 points or 0.1% at 12,965. The S&P gained 0.1% to 1362 while the Nasdaq lost 01.
Facebook Fan Pages are a great way to build your brand, remain Top of Mind. engage with your customers and now Facebook are about to improve their functionality even more.
Women's retailer, Specialty Fashion Group has joined the no dividend club and a spot of rationalisation after confirming earlier guidance of a sharp drop in sales and earnings for the December half year.
