BUSINESS

The World: IMF Positive For China, Asian Growth

Despite all the gloom and doom from Greece, Europe and the US, as well as the glum tone on sharemarkets here and offshore, there was one unchallenged bit of good news for Australia over the weekend.

Australian Stock Market Report 06/20/2011

US consumer sentiment eased from 74.3 to 71.8 in June, below the consensus forecast of 73.5. The US leading index lifted by 0.8pct in May, well above the consensus forecast of a 0.4pct gain.

Lie detector test backs claim: Zuckenberg gave up 50% of Facebook

Paul Ceglia claims that in 2003 he signed a contract with Mark Zuckerberg that entitles him to half the holdings of Facebook Inc.'s co-founder and CEO. Last week, Ceglia said he underwent a polygraph test in New York last week to prove his claim. Now he wants to Zuckenberg to undertake the same lie detector test.
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Australia: Should We Be Lumped In Again With Them?

Our market has lurched downwards in sympathy for the rest of the world on Thursday as local investors large and small (and the hedge funds and other short term players) reckoned the bad news from Greece and the US economy was bad news for us.

Oz Wine Industry Faces Increasingly Competitive Environment

- Global wine industry becoming increasingly competitive- Overcapacity in Australia pressuring prices- CBA suggests key for Oz producers will be ability to meet market needsBy Chris ShawOver the last 20 years or so wine consumption in Australia has grown strongly, while beer consumption has been rel...

Tata Steel gives up Riversdale stake to Rio Tinto

India's Tata Steel has accepted the takeover offer of Rio Tinto for the Riversdale Mines in Africa, allowing the London-based mineral producer to have an edge over iron ore grade coal produced by Riversdale.

NBN chief a ‘victim of Coalition smear campaign’

National Broadband Network (NBN) CEO Mike Quigley has been the victim of a Coalition smear campaign that has cost Australian taxpayers’ huge money, the Minister for Broadband, Communication and the Digital Economy, Senator Stephen Conroy said on Friday.

Telstra says no final deal yet on NBN

Telstra Corporation Ltd downplayed reports indicating that it has finalised the finer details of the contract that embodies the giant telco’s $9 billion agreement with NBN Co. that will aid in the full roll out of the federal-sponsored national broadband network.

Watch AUD/USD And Copper

FNArena has added another video to its Investors Education section on the website. In this educational video, ATW's Jerry Simmons suggests investors should carefully watch copper and AUD/USD to anticipate what is going to happen with equities.

Economy Watch: Stevens Remains A Hawk

By Greg PeelAs I noted in my report earlier this month on the RBA's June monetary policy statement, the following paragraph from the May statement, which had many economists suddenly expecting a June rate rise, was gone in the June statement:"Looking through these short-term movements, however,...

Feature: Dominos Poised

Lot's of talk about dominos in European banks and economies if Greece defaults, while from across the Atlantic, a growing realisation the US economy is approaching stall speed, as the Fed's punchbowl is being closed off.

Australian Stock Market Indicators 06/17/2011

The Philadelphia Fed manufacturing index fell to a two year low easing from +5.4 to -7.6 in June. The result was well below expectations with analysts expecting a reading around +16.8. Across the sub indices, new orders were substantially weaker while inventory levels also fell.

Rural: Grain Boom Continues

Australia's winter grain crops are in very good shape, according to the quarterly update from the country's premier forecaster, the Australian Bureau of Agricultural and Resource Economics and Sciences.

World Market Overview 06/16/2011

U.S. stocks tumbled as fears of contagion from a possible Greek default picked up, adding more pessimism to a foreboding mix of U.S. economic data.

Australian Stock Market Report 06/16/2011

The New York empire manufacturing index fell from +11.88 to -7.79 in June. The result was well below expectations with analysts expecting a reading around +12.5. Across the sub indices, new orders and shipments were weaker.

Aussie banks charging less to households

The aggregate fee income of banks in Australia was unchanged in 2010, according to the Reserve Bank, which has conducted a survey on bank fees each year since 1997.

Australian property values weaken further in Q1

National property values fell by 2.1 percent during the first quarter of 2011 made worse by weak results from January and February, an inaugural report from Commonwealth Bank and RP Data has revealed.

Newcrest Mining gears up for divestiture spree

Newcrest Mining Ltd is likely adding its Bonikro gold site in the Ivory Coast following its Wednesday announcement that it will divest its non-core Queensland assets in Cracow and Mount Rawdon, reports said.

China convicts Foxconn employees on iPad 2 leak

China has convicted three people accused of conspiring to steal the casing design of iPad 2 last year, according to reports, which also said that two of those found guilty were previously connected with Foxconn, the Taiwanese manufacturer of Apple’s gadget product lines.

'Brodie's law' increases emphasis on workplace bullying

The recent passing of the Crimes Amendment (Bullying) Act 2011 by the Victorian parliament introduces the possibility of up to 10 years imprisonment for workplace bullies. The Act amends the stalking provisions of the Crimes Act 1958 to make it clear that serious bullying may amount to stalking.

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