Amid concerns about a possible recession in some countries, there is still some positive news for the global economy.
It was another stellar day for US equities with a much better than expected revised GDP reading triggering the gains. Q3 GDP came in at a whopping 5%, revised from a previous estimate of 3.9% and much better than an expected 4.3%. This was the biggest gain since 2003 and this was enough to keep investors encouraged. Equities extended gains on the news with the S&P and Dow at fresh record highs. The S&P hit 2087 and the Dow topped 18,000. The GDP reading also underpinned the greenback as it ralli...
Despite a 2010 expose by Today show that revealed some retailers, including retail giants Gap, Macy's, Bloomingdale's and Nordstrom return used underwear on the shelves, another round of secret monitoring this 2014 caught three retails still engaged in the same unsanitary practice.
In US economic data, the final estimate of economic growth for the September quarter showed a 5.0% annualised pace, above estimates of 4.3% and the fastest pace in 11 years. Chain store sales were up 5.3% in the latest week, up from 4.1% in the prior week. New home sales fell 1.6% to a 438,000 annual pace in November. Personal income rose by 0.4% in November with spending up 0.6%. Home prices rose 0.5% in October to be up 4.5% on the year.
Denmark offers a highly pro business climate with less red tape and corruption.
Sydney is leading the rest of the states in terms of economic contribution. The tragic Sydney siege did not deter the city from bouncing back.
North Korea's massive nine-hour Internet outage was just done by a group of hackers.
A study has revealed that an experimental Ebola vaccine tested right among African nationals had yielded early promising results.
Local shares continued to lose ground over the course of Tuesday afternoon. The four preceding sessions saw the ASX 200 rise by 290 points or 5.5%. Local participants shrugged off the positive tone that featured in US and European trade overnight, to the extent that the market ended at the lows of the day.
Relief appears nowhere for Australia's iron ore exporters as supply continues to exceed demand, prompting the Bureau of Resources and Energy Economics (BREE) to cut again its forecast of prices for the key-steelmaking ingredient in 2015.
The Roman Catholic Archdiocese of Ottawa has sold the St. Charles Church in the Vanier neighbourhood.
Apple iPhones get costlier in Russia, thanks to the falling ruble.
On the eve of Christmas eve, local shares have taken a pause after 4 sessions of gains in which the ASX 200 has risen by 290 points or 5.5%. The index started the session with a loss of 8 points before trading at the lows of the morning as lunchtime loomed. Local participants looked through the generally positive that featured in US and European trade overnight. European shares were firmer in the latest session with the FTSEurofirst 300 index up by 0.4% and the German Dax up by 0.8%. Investors w...
Westpac announced on Tuesday that it would quit its remittance business on March 31, 2015. Among the Big 4 banks in Australia, it would be the last to leave the $24.5-billion remittance sector in the country.
There have been concerns about the Russian economy after the country’s currency, the ruble, fell in the past few months.
It was another quiet night as the markets head into the Christmas break. The USD remains strong. The AUD did rise to USD 0.8170 during the day yesterday, but is back around the recent lows of USD 0.8115.
The Santa Clause rally is rolling on in global equities with sentiment remaining positive as the S&P marches towards its record high yet again. The S&P closed at a record 2077 and is within a couple of points of its December 5 intraday record high of 2079. The bounce in crude oil prices seems to have been a flash in the pan with investors finally realising that comments by OPEC members from the weekend did not imply they will look to correct the current supply situation. In fact, Saudi Arabia se...
Like their Chinese counterparts who snapped up properties in London, New York, Sydney and other global cities when Beijing imposed cooling measures on its red-hot real estate market, uber rich Russians are abandoning ship.
In his Sunday announcement of Cabinet reshuffle, Prime Minister Tony Abbott said the changes are geared towards making the jobs and families a top priority in the coming year, 2015.
In US economic data, the national activity index rose from a revised reading of +0.31 in October to +0.73 in November. Existing home sales fell by 6.1% to a 4.93 million annual rate in November, down from an expected level of 5.2 million.
Leaked information from Sony hack sheds light on the Sony Xperia Z4’s design and release date.
The positive growth of Apple stock is expected to continue as analysts predict strong iPhone 6 demand to continue despite mixed forecasts on Apple Watch.
WestJet Airlines and its 1,250 pilots have signed on a new collective bargaining contract.
Australian shares improved for the fourth straight day with the ASX 200 Index up 1.9 per cent and finishing near intraday highs. Generally markets are quiet as we approach Christmas; however a surge in oil and iron ore prices on Friday have helped both energy and mining industries gain strongly.
Blackberry and Boeing are working on a new smartphone that self-destructs when tampered with.
The ASX 200 has started a holiday shortened week in the same fashion it ended the previous week; with solid gains. At lunch on the east coast the index was close to the best levels of the day. Local stocks pressed ahead on the back of gains for US stocks at weeks end, which capped off an encouraging week on Wall St. After being up 96 points, the Dow Jones finished higher by almost 27 points or 0.2%. The S&P 500 index rose by 0.5% while the Nasdaq lifted by 17 points or 0.4%. For the week, the Do...
The drop in the oil prices have led to global market concerns, primarily by the oil producing countries.
The Australian Dollar had a quiet day of trading on Friday and has opened in the mid .8100's this morning.
Markets ended last week on a positive note with the post-FOMC meeting bid tone continuing to resonate through the globe. The rebound in oil prices also helped underpin sentiment to an extent. While equities drifted higher, there were some notable moves in the fx space with the greenback gaining significant ground against the euro and yen. EUR/USD plunged to $1.222, breaking below its early December lows and now trading at its lowest sinceJuly 2012. The main event for Europe this week will be Gre...
In US economic data, the Kansas City Federal Reserve manufacturing index was steady at +9 in December with the composite index up from +7 to +8.
