Global Markets Overview 09/07/2011
U.S. stocks dropped for a third straight session as investors continued to flee risky assets and the Standard & Poor's 500-stock index notched its worst ever three day start to September
Big Retailers Crushing Online Stores, Claims eBay
Popular retail stores are telling distributors and wholesalers to stop selling products online if they have the same in their stores, claims eBay. Responding to draft recommendations released by the Productivity Commission last month, eBay managing director (Australia and New Zealand) Deborah Sharkey alleged on Monday that certain unidentified Australian retailers had taken an anti-competitive approach to block the availability of products at online sites.
Hacking of DigiNotar Brings World Wide Web Turmoil
The Dutch government reported on Monday that a hacking attack on a Dutch Web security firm in July led to the issuance of fraudulent certificates for major Web sites, including that of the Central Intelligence Agency and Twitter.
Sony Tablet S and P: Nine Crazy Reasons Why I Should Buy These Hip & Hot Tablets
Sony announced Monday that its first two Sony Tablet devices is already available for pre-sale and will be available in shelves.With so many tablets being launched in the market today, I thought about listing reasons why I should be buying tablets from the Japanese Electronics giant instead of the Apple's iPad and the tablet imitations (if you believe Apple's claims in its lawsuits), and later do some little research to verify if my first impressions were correct.
More news
Infrastructure, Superannuation to Suffer from Mining Tax Grab
The NSW Government’s move to hike mining royalties would immediately hit Commonwealth infrastructure spending as well as plans to boost superannuation and cut company tax, the CFMEU Miners Union said today.
Australian Dollar Falls After RBA Comments
The Australian dollar was dragged down by a fresh wave of uncertainty from comments made by Reserve Bank of Australia Governor Glenn Stevens.
Virgin Australia Plans to Offer Media Streaming and Online Access
Bent on chipping away at Qantas' dominance in Australian business travel, Virgin Australia said Tuesday it will provide media streaming as well as wireless Internet access.
Housing Finance Increase No Cause for Rate Rise
The headline rise in housing finance in July is no cause for the Reserve Bank to raise rates, according to peak building and construction organisation Master Builders Australia.
HIA: More Needed to Stimulate the Housing Sector
Much more is needed to stimulate an under-performing housing sector, the Housing Industry Association says.
Property Developers Welcome NSW Stamp Duty Changes
Property developers have welcomed the NSW government's move to scrap stamp duty exemptions for existing homes, arguing it will help improve affordability and boost construction
Farmer’s Confidence Flagging as Economic Uncertainty Worsens
A recent survey of rural confidence by agricultural lender Rabobank revealed that farmers are feeling less confident for the year ahead.
Commonwealth Bank Drops Fixed Home Loan Rates
The Commonwealth Bank (ASX: CBA) has reduced interest rates for one and three-year fixed interest rate home loans by 0.16 percent.
No Rate Cut In Sight
By Greg Peel"Beyond the near term, growth is still likely to be at trend or higher, unless the world economic outlook continues to deteriorate.
CSG Producers Embark on Ad Campaign
Australia's oil and gas firms have launched an information campaign to convince the public of the benefits of CSG and erase negative public perception of the industry.
Rio Tinto, Anglo American Divests $700M from South African Palabora Mine
Mining firms Rio Tinto and Anglo American Plc will divest their combined 74.5 equities in Palabora Mining Company Limited, whose principal asset is a copper mine in South Africa.
NASA to Revolutionize Air Transport of Cargoes
NASA is set to change the way cargoes are transported by air. Soon, there will be airships. In terms of gas emissions, NASA's airships could be the most eco-friendly freight carrier.
National Australia Bank Mulls NBNK Merger; Set to Bid for Lloyds’s 632 Branches
National Australia Bank (NAB) is in merger discussions with NBNK, a UK group that plans to bid for Lloyds Banking Group's 632 branches.
August Car Sales Signal a Steady but Ailing Local Industry
Local carmakers are bearing the brunt of the continued onslaught of imported vehicles that flood the domestic market, according to the latest statistics released by the Federal Chamber of Automotive Industries (FCAI) on Monday.
Macarthur Coal Bids: Shareholders still Unhappy on ArcelorMittal's Offer
Macarthur Coal board has told shareholders to accept the takeover bid by ArcelorMittal and Peabody Energy (PEAMCoal), but has again hinted that a better alternative bid might happen.
The Economy: Still Mixed, But The Investment Boom Powers On
As we once again approach a monthly Reserve Bank board meeting, the Australian economy is not providing any guidance for the central bank, or individuals.
Deals: Cash Converters' US Deal Falls Apart
Shares in Cash Converters, the Australian pawnshop and short term lending business, fell 3% yesterday after a deal by its largest shareholder to take control collapsed.
Google, Facebook Now Dissuade Aliases on Profiles
Google and Facebook have urged people to sign up using only their real names while those who use aliases are banned. Although internet analysts see only commercial goals, such as users-advertisers matching, as a reason behind this move, dissuading the use of aliases might prove some good points to consider.
Survey Shows Australians Favor 30% Minerals Resource Rent Tax
An online survey released Monday found that 46 percent of Australians favor the government planned 30 per cent minerals resource rent tax (MMRT). The survey by Essential Research said 34 per cent are against the MMRT, reported the Herald Sun.
Uranium Finds Support
By Greg PeelThe week before last saw industry consultant TradeTech's spot price indicator for uranium fall to US$48.
$A Plummets Amidst Debt Crises in Europe
The Australian dollar suffered at early morning trade treading the range of 105.52 to 105.60 cents path against the U.S. dollar but is expected to trade higher by mid-day in anticipation of the RBA meeting to deliberate on the cash rate on Tuesday afternoon.
Auto Dealer In Receivership for $80M Debts
Auto dealership Rick Damelian Group has been put on receivership after raking in $80 million worth of debts.
The Overnight Report: Europe Trashed
By Greg PeelThe German coalition government lost another regional election over the weekend in Angela Merkel's home province of Mecklenburg-Vorpommern.
Australian Stock Market - Morning Report 09/06/2011
US financial markets were closed on Monday for the Labor Day holiday. On Friday the Dow Jones fell by 253pts or 2.2pct with the S&P 500 down by 2.5pct and the Nasdaq lost 65.7pts or 2.6pct. Over the week the Dow fell by 0.4pct and the S&P 500 lost 0.2pct while the Nasdaq was largely flat.
High-end Clothes Store Satch Goes into Administration
Australia's retail sector continues to suffer from the economic downturn, with high-end clothing store Satch as the latest victim. Satch Clothing was placed under administration on Thursday.
Is Samsung Winning the War Against Apple?
Samsung was forced to pull out the Galaxy Tab 7.7 from the world's largest consumer electronics show after a court in Germany promptly granted Apple's request for an injunction. This was the same court that gave a ban of the sale and promotion of the Galaxy Tab 10.1 in 26 of the 27 European Union member countries, although the ruling was scaled back only to Germany on jurisdictional issues.
Toyota Leads As Australia's Best Selling Brand in August
Toyota was Australia's best selling brand in August as the industry's vehicle sales went up 7.3% month-on-month. On a year-to-date basis however, auto sales in Australia is still down 4.4 %
Spanish Shipbuilder Docks in Australia
Navantia, the Spanish shipbuilder undertaking the construction of Australia’s new Air-Warfare Destroyers (AWD) and two amphibious ships (LHD), says it will establish a wholly-owned Australian entity under the corporate name, Navantia Australia Pty. Ltd.
Spanish Shipbuilder Docks in Australia
Navantia, the Spanish shipbuilder undertaking the construction of Australia’s new Air-Warfare Destroyers (AWD) and two amphibious ships (LHD), says it will establish a wholly-owned Australian entity under the corporate name, Navantia Australia Pty. Ltd.
WA Businesses Face Gloomy Prospects
Business confidence has taken a beating in Western Australia, with many small businesses concerned that people are not spending.
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