BUSINESS

World Market Overview 05/30/2011

The Australian stock market recovered from early softness on Friday to end the week higher, as bargain hunters moved in to recover value in a heavily sold-down bourse.

Australian Stock Market Report 05/30/2011

US personal income rose by 0.4pct in April, in line with consensus. Personal spending was also up 0.4pct, slightly below the expected 0.5pct increase. The final reading for consumer sentiment in May was 74.3, up from 72.4 in April. But pending home sales slumped by 11.6pct, well short of forecasts of a 1.4pct fall.
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Google launches its mobile payment application

Google finally unveiled its long-awaited mobile payment application the Google Wallet this Thursday. After months of hinting at the application, customers were at last introduced to the mobile application that will allow users to "tap, pay and save" for goods and services.

Forex Market Insight 05/27/2011

The Aussie pushed higher overnight and is now approaching the top of the bullish descending wedge. From here, traders will be looking for a move back to the lower end of the wedge and therefore will be looking for signs of a reversal around the 1.0640/60 level. Any break above 1.0660 is likely to be seen as buyable.

Qantas pilots to ballot on strike action

For the first time in 45 years, Qantas pilots are preparing for industrial action. A ballot of up to 1,700 long-haul pilots will be carried out to determine the type of industrial action the pilots are to take.

The Economy: Capex Boom Still Growing

Do you want the bad news, or the good news about the latest private investment figures? Well, the good news is that the boom is alive and will be bigger than forecast in 2011-12.

No pay deal yet for back-to-work wharfies

Although dock side workers at the chief ports in Sydney, Brisbane and Fremantle are expected to resume with their duties today, a new arrangement on their pay and work conditions is still far from being given them.

Sony Ericsson eShop website hacked

Sony Ericsson's security troubles continue as hackers breached Sony Ericsson's eShop website this Wednesday. This time the attack was aimed at Canadian users of the website with potentially 2,000 user names, e-mail addresses and passwords taken.

Banks: RBA Cool On Bank Funding

A senior Reserve Bank official has once again reminded us that Australian banks are not the vulnerable things that some recent comments have suggested.

The Economy: Trading Partners To Do Well

There's a strong message for Australia and investors from the latest half yearly review of the world economy from the Organisation for Economic Co-Operation and Development (OECD).

Vodafane Australia introduces Vodafone All-Time prepaid

Vodafone announced today their new prepaid recharge plan; the Vodafone All-Time prepaid which brings unlimited calling and messaging to its prepaid customers. The prepaid option also allows access to bonus bank- a loyalty program that gives users rewards for every recharge.

Infrastructure NSW to drive state back to business

The introduction of the legislation to create Infrastructure NSW, a new body to help get infrastructure going again in the state, makes a strong signal the NSW is back in business.

Aussies outside cities to have more TV channels as Foxtel buys Austar

Australian consumers in regional areas will soon be able to enjoy access to new digital subscription channels, as long as regulators approve a new proposal to merge FOXTEL, Australia's largest pay-TV operator, with Austar United Communications Ltd. (AUN)

Perpetual cuts job to improve company performance

Perpetual, the wealth management company, has cut jobs and considered outsourcing platform administration services. This is part of a new strategy to revitalize performance disclosed by Chief Executive Chris Ryan who succeeded David Deverall on February 14 as CEO.

Property sector urges QLD councils to aid local jobs

The property industry is calling on Queensland’s 73 local governments to support jobs in their communities by adopting infrastructure charges well below the capped rates set by the State Government.

Facebook and Spotify to provide streaming music service

Facebook and Spotify are joining in a collaborative effort to provide a streaming music service to Facebook users. Business magazine Forbes reported that in the next two weeks, Facebook users will be able to see a Spotify icon on their news feed. Clicking on the icon will allow the service to install on the user's computer.

US Economy Sinking Again, Dollar outlook Grim

Two key pieces of data released earlier today suggests that the U.S. economy’s recovery is well off the pace that the Federal Reserve would like to see.

World Market Overview 05/27/2011

The Australian stock market posted gains of 1.6 per cent to end a four-day losing streak, led higher by gold, energy and materials after a bounce on commodity markets overnight.

Australian Stock Market Report 05/27/2011

The US economy grew at an unrevised 1.8pct annualised pace in the March quarter. Economists had expected a lift in the growth rate to 2.2pct. And new claims for unemployment insurance rose by 10,000 to 424,000 in the latest week, above forecasts centred on 404,000.

Glencore out to beat rivals with IPO

Glencore International Plc's debut in Hong Kong has been graded the world's biggest initial public offering this year that could lure other investors from its competitors with its size and market value, analysts said.

Australia Leads in Adopting Cloud Computing

Australia leads other Asian Pacific countries in adopting cloud computing. In a recent report from Frost and Sullivan titled State of Cloud Computing in Australia: 2011, 43% of enterprises are now using cloud computing in some form and 41% of IT decision makers agreed that cloud computing will continue to be a top priority.

Delayed payments on Australian mortgage upturns

Delayed payments on Australian mortgage had increased in the first quarter at its highest. It is now considered a big blow to the country’s thriving property market.

Planned capex in Australia mining jumps 31pct

Investment in Australia’s advanced minerals and energy projects hit a record $173.5 billion in April 2011, 31 per cent higher than in October 2010, according to new data released today.

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