The Overnight Report: Coming To A Head
By Greg PeelThe Dow fell 258 points or 2.4%. The S&P fell 2.9% to close at 1099, breaching the earlier August intraday low of 1101.
Uranium Contract Prices Slip
By Greg PeelUnlike the uranium spot market, which in recent weeks has been dominated by traders and hedge funds on both sides of the price, the uranium term market more represents legitimate supply deals between producers and utilities and is thus more representative of ongoing longer term uranium d...
iPhone 5 Event: Five Things We'd Love to See But Won't
Apple Inc. unveils the highly hyped fifth generation iPhone at its Cupertino, California headquarters. The event marks the first time Tim Cook will take center stage after succeeding the ailing Steve Jobs. While hoping to stride out from Jobs' shadow, he hopes to retain the Apple founder's magic in pitching new Apple devices. More than whether Cook will give the first impression that he is a showman and a visionary like Jobs, here are five things we'd love to see at the Oct. 4 but pr...
Woolworths Points the Finger at Parlamat for Milk Contamination
Woolworths is recalling 3 litre Homebrand Full Cream Milk for possible contamination of food-grade dairy cleaning solution. Food products containing cleaning solution may cause illness to some if consumed.
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Ashton Sells 10% Of Maules Creek Project For A$370M
Ashton has agreed to sell 10 % of its stake in Maules Creek Project for A$370 million to J-Power Australia Pty Ltd, subsidiary of J-Power of Japan.
Microsoft Admits Anti-Virus Patch Disabled Google Chrome
Microsoft is admitting that its in-house anti-virus product, Microsoft Security Essentials, had targeted Google's rival Chrome browser for blocking or even deletion, which the company insisted was unintended.
Rising Consumer Prices Spur Inflation Jump in September
Seasonal spikes on three major consumer goods led to more than two percent surge in inflation over the past three quarters, according to the latest inflation measures released on Monday by the TD Securities-Melbourne Institute.
RBA Interest Rates to Remain Unchanged with Slowing Inflation
The inflation report on Monday showed a decline in prices of fruits and vegetables which dropped by 5.6 percent last month after a decrease of 1.6 percent in August.
Rush is Wrong (about General Motors)
Limbaugh blasts GM for trying to sell the Chevrolet Volt in China, but his central premise (based on a New York Times story, no less) may be wrong.
Samsung May Launch 7-Inch Galaxy Tab in Australia Before Christmas
Samsung plans to launch an upgraded version of the 7-inch Galaxy Tab in Australia before Christmas, Smarthouse reports.
Coke to Personalise Packaging for Australian Mass Market this Summer
In a world-first Australian experiment, Coca-Cola is replacing the "Coke" branding with one of 150 of Australia's most popular personal first names for its next summer marketing campaign.
Aldi's Federal Court Win Signals Possible Eftpos Fees for Customers
Aldi has won its Federal Court case against ePAL, which has been found liable for misleading and deceptive conduct under the Competition and Consumer Act.
AFG Warns Against 'Laughable' One Big Switch
Mortgage industry aggregator Australian Finance Group (AFG) has come out in support of the broker proposition, by issuing a warning to consumers over the loan offer being provided by One Big Switch.
High Coal Prices to Remain Inspite Erratic Global Market Shifts
Coal prices, along with iron ore, will endure erratic price adjustments despite the global markets' roller-coaster ride and declining output in China's manufacturing, analysts and experts said.
Greek Labor Unions Spurn Government Idea of Labor Reserve
Big labor groups in Greece are up against the proposal of Prime Minister George Papandreou's government to place some 30,000 state workers in a special labor reserve force with lower wages as part of its austerity measures to reduce the nation's budget deficit.
Japan to Seek Help Against Cyber Attacks after Hacking of Mitsubishi Heavy
Japan intends to work more closely with private firms dealing with internet security after Mitsubishi Heavy, which works closely with Boeing, said in September network information such as IP addresses may have been leaked.
$50M ANZ Class Action Suit Hearing Starts in Melbourne Federal Court
The $50-million class action suit filed by 34,000 ANZ customers has taken a first step forward by starting on Monday hearings in a Melbourne Federal Court.
Australia's Manufacturing Sector Continues Slack in September
Manufacturers experienced another tough month in September with the Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®) down 1.0 point to 42.3, indicating a further weakening in the sector.
Investors Are All Cashed Up, Waiting On The Sidelines
Investors in Australia have used the uncertainty and extreme volatility in share markets over the past two months to further reduce exposure to higher risk equities in favour of pure plain cash in the bank.
Steel: Global Production Still On Track
World crude steel production was the second lowest monthly total so far this year, despite continuing solid production in China and most of Asia.
How Many Millions of Kindle Fire Can Amazon Sell?
Amazon CEO Jeff Bezos had announced during the launching of the Kindle Fire tablet in New York City on Wednesday that the company is producing millions of the device for customers. But just how many Kindle Fires can Amazon really sell?
Qatar Holdings Invests $1B in Greek Mining Company
In what seemed to be a major breakthrough for debt-ridden Greece, it had gained trust from a Qatar-based holdings firm to invest in one of its gold-mining projects.
BlackBerry PlayBook at $99? Fine Dining for Now, But Cheap Eats Later
If its niche crowd, the managers and professionals, ate a BlackBerry Bold or Torch for lunch and have the BlackBerry PlayBook for dinner, Research In Motion Ltd. would have given free beers to everyone. But the problem is that there are fewer business users are ordering BlackBerries, and the existing users are picking an iPad or an Android tablet.
Deal for Palm Could Hurt Amazon More Than Android
Ditching the Android and have its own platform in webOS could make sense for Amazon. The retailer has an unmatched portfolio of goods and services -- including songs, movies, books, apps, etc. -- that it could integrate to its own platform for mobile devices.
Outlook Improves for Australia’s Accommodation Industry
Confidence in Australia’s accommodation industry has risen after ABS statistics for the June quarter of 2011 showed "pleasantly surprising" results.
BHP Biliton: China, India to Spur Global Demand for Steel-Grade Coal Close to 70%
Fast-developing and emerging market leaders China and India will push the global demand for raw steel-making ingredients by as much as 68 percent between 2010 and 2025, according to mining giant BHP Billiton on Friday.
Google Accuses Microsoft of Extorting Cash from Android OEMs
Google has responded to Microsoft and Samsung's agreed to a cross-licensing deal by accusing Microsoft of extortion.
China Posts Higher Grain Output, but Domestic Prices Steep
Chinese grain harvest posted its eighth consecutive increase this year but it will still failed to stabilize domestic prices as supplies continue to struggle to meet growing demand.
Australian Stock Market - Closing -09/30/2011
AFTERNOON REPORT
(4.30pm AEST)The Australian share market ended what has been another volatile week on a flat note, despite attempting a rally in early trade. The All Ordinaries Index (XAO) added 2.2pts or 0.1pct to 4070.1 while the S&P/ASX 200 Index (XJO) firmed by 0.3pts to 4008.6.
Commonwealth Bank Won’t Increase Fees for Existing Retail Merhant Customers
Commonwealth Bank will not be increasing fees for its existing merchant customers amid industry changes to interchange fees beginning Saturday.
HSBC's PMI: China's Manufacturing Sector Contracts in September
China's manufacturing sector continued to contract for the third straight month in September due to weaker global consumer demand, showing proof that even the world's second-largest economy is not immune to the financial crisis.
Japan’s Asahi Completes Acquisition of Independent Liquor
Japanese alcohol and soft drinks manufacturer, Asahi, has completed the acquisition of the Independent Liquor Group, which includes Independent Liquor in New Zealand and Independent Distillers in Australia for NZ$1,534million (approximately 98 billion Yen).
Metcash Completes Franklins Purchase
Australia's biggest grocery wholesaler Metcash today completed the transaction to acquire the Franklins chain of supermarkets from Pick n Pay Retailers.
Australian Stock Market - Midday Report- 09/30/2011
MIDDAY REPORT
(12pm AEST)It has been a volatile session of trade so far today, with the Australian sharemarket losing ground after posting gains for the first two hours of trade. The All Ordinaries index (XAO) is down 0.4 pct or 17.4 pts to 4050.5. Almost all sectors are lower with weakness from the financials and miners holding the market back.
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