BUSINESS

Australia's Services Sector Growth Jumps in August

A welcome lift in new orders and sales took the services sector into positive territory in August according to the latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI®). The seasonally adjusted index rose 3.3 points to 52.1 in the month (readings above 50 indicate an expansion in activity).

Australian Stock Market - Morning Report 09/05/2011

US non-farm payrolls (employment) were unchanged in August, well below forecasts for a 70,000 lift in jobs. Private payrolls rose by 17,000 and hourly earnings fell by 0.1pct. But the household survey showed a 331,000 lift in jobs and the unemployment rate was unchanged at 9.1pct.

Amazon.Com Selling Its Own iPad at Half the Price

According to various sources, online retailer Amazon.com is selling its own tablet brand -- a 7-inch tablet at first -- that would have an entry-level price of $250. Sure it's more expensive than the $99 HP TouchPad, but the TouchPad sale is only temporary as it HP is only getting rid of remaining inventory.
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Hitachi, Sony, Toshiba Merge LCD Business

Hitachi, Sony, Toshiba merge their LCD businesses and with200 billion yem funding from Innovation Network Corporation of Japan (INCJ) aims to develop next generation technologies

Rent at Sydney's Pitt Street Mall If You Dare

Rent at Pitt Street Mall in Sydney jumped 33 percent putting it in the fourth spot among the world's most costly real estate properties, Cushman & Wakefield said in its latest report.

CSR Restructure Cuts 100 Jobs

CSR has announced a restructure of its Viridian Glass business that will cause about 110 redundancies, in a bid to lift profits.

Big Price Discounts Fail to Boost Fixed Rate Demand

Demand for fixed interest rate home loans increased by less than 1 percent of approvals over August despite lenders offering large reductions to the cost of their fixed term loans, according to one of Australia’s largest independently-owned mortgage broker.

Telstra CEO Believes ACCC Will Eventually Favour its SSU

Telstra Corporation is far from being alarmed over the assessment issued this week by the country’s consumer watchdog, stating that the present form of its structural separation undertaking (SSU) leaves more room for improvements.

FBAA Disagrees with MFAA Merger

The FBAA will not consider a merger with rival body the MFAA, and the industry is in fact better off with two separate representative associations, according to FBAA president Peter White.

Melbourne Property on The Block

If anyone needed proof of the unique Australian obsession with property as a method of quick capital gain, they need look no further than hit TV show "The Block."

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