As expected Japanese shares were hammered yesterday in the wake of Friday's quake and tsunami, and the explosions at nuclear reactors at Fukushima on Sunday and yesterday.Shares fell more than 6%, to be down almost 8% since the quake happened after the 1.7% fall late last Friday afternoon after the quake happened.The Nikkei ended down 6.2% at 9620.49.Tokyo Electric Power shares plunged 24% ye...
As markets grapple with the impact of the Japanese quake and tsunami, the unrest in the Middle East, the euro debt crisis and worries about the strength of the US recovery, a bonus may be about to be delivered by the US Federal Reserve.Some time in the next few days, possibly within the next 24 hours, America's 19 biggest banks will learn the results of the latest stress tests conducted by re...
Commonwealth Bank of Australia Ltd (ASX:CBA) has achieved excellent progress in a core banking modernisation program that it has been pursuing since April 2008, the bank said today.
Citigroup has appointed Vibha Coburn as Head of Mortgages for Citibank Australia. Ms Coburn was most recently a business director in Secured Finance Solutions at Citibank Singapore.
Renewed safety concerns regarding nuclear generation resulting from the massive Japanese earthquake may benefit the development of new liquefied natural gas projects (LNG) in Australia, according to an international ratings agency.
Nokia Australia has unveiled the new E7 Symbian smartphone, with the phone maker expecting to lure mostly business professionals in snatching a unit that mostly boasts of a wide 10cm touchscreen that slides sideways and tilts for better viewing pleasure.
Mining giant BHP Billiton Ltd. (ASX: BHP) has announced dividends to be distributed to shareholders amounting to 45.935919 Australian cents.
Virgin Blue Group of Airlines says it would increase fares and international fuel surcharges in response to further rises in global fuel prices.
- Short term economic contraction should give way to medium term economic growth in Japan- The Kobe quake in 1995 provides lessons- Demand for crude, LNG and coal should increase to offset lost nuclear power- The longer term impact on nuclear energy as a whole is of concernBy Greg PeelAs the impact of the Japanese earthquake and subsequent tsunami became apparent, the response from global financia...
Hunting for bargains, discounts, and or major freebies on the Internet, opens a lot of doors to Australian consumers looking forward to discounts and even freebies in their favourite restaurants and supermarket chains all over the country.
(This story was originally published on Wednesday, 8th March 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).- The world will have to get used to higher priced oil- There will be no QE3, unless the US experiences another shock- Europe remains a troubled, high risk proposition- Forecasts for equity returns this year likely too bulli...
- Magnitude, speed and duration of higher oil prices matter- Growth impact of recent oil price gains expected to be mild- Morgan Stanley forecasting US growth of 4.0% in 2011By Chris ShawWith oil prices surging recently, Morgan Stanley notes investors are again questioning just how sustainable is the US economic expansion. The concerns appear justified, as Morgan Stanley suggests a rough rule of t...
The Australian Dollar climbed following reports of increased industrial production and steady inflation for China.
The Australian share market has suffered its worst weekly fall in just over nine months, losing ground on Friday as sentiment was further eroded by economic concerns in Europe and the United States.
US retail sales rose by 1.0pct in February - in line with forecasts and the strongest gain in four months. Excluding autos, sales rose 0.7pct.
Commodity markets won't feel as much of the impact from the Japanese quake and tsunami as one might think.Sure gold and oil will bounce around, as they did on Friday, but there are other issues with a more direct impact on these major commodities.These include Libya and oil prices, fears about the strength of global demand (which is partly why copper prices are off 10% in the past month) and ...
A devastating tsunami is engulfing towns in Japan's northern Pacific coast following a major offshore quake today. Japanese television is broadcasting cars, ships and even buildings being swept away by a vast wall of water.
The NSW Food Authority has issued urgent advice to consumers not to consume plant seeds marketed as slimming products under the labels ‘The Latin Seed’ and ‘Slim Seed.’
Charter Hall Group (ASX:CHC) has exercised its right of first refusal to acquire a portion of Macquarie Bank Ltd group’s (MBL) holding in Charter Hall Office REIT (ASX:CQO).
A new $2.5 million social housing development has officially opened in Brooklyn Park, Adelaide to provide at least 10 people at risk of homelessness with a roof over their heads.
The Australian dollar has opened lower this morning as disappointing Chinese trade data weighed on markets overnight.
The Australian Dollar moved lower overnight on a renewed bout of risk aversion and opens today at parity with the greenback.
The High Cost of Free MoneyPerhaps the most famous economic law is the one that there is no such thing as a free lunch. By keeping US short rates at abnormally low levels beyond the financial crisis and as growth bounces back beyond the dreams of the wildest optimists, the Fed increasingly seems to be trying to ‘feed the US economy for nothing’. This is worrying for as we have reviewed...
Blue-chip stocks suffered their biggest intraday drop since October as reports of Saudi police firing on protesters added a new worry to a day of broader economic concerns.
The Bank of England left its key lending rate unchanged at 0.50pct on Thursday. The central bank also made no changes to it´s £200 billion program of asset purchases.
By Greg PeelThe Dow fell 228 points or 1.9% while the S&P lost 1.9% and the Nasdaq lost 1.8%. All three averages/indices fell down through their 50-day moving averages, triggering technical selling. The Dow fell below 12,000 and the S&P below 1300 to 1295, exacerbating the psychological element.The interesting thing about last night's move on Wall Street is that oil was actually weaker. Brent fell...
- BA-ML initiates on Pharmaxis with Buy rating- Pharmaxis close to regulatory approval for Bronchitol- Low risk entry into potential market of more than $500mBy Chris ShawSince July of last year both Credit Suisse and RBS Australia have rated Australian pharmaceutical company Pharmaxis ((PXS)) as a Buy. BA Merrill Lynch has now added to the positive views on the stock, initiating coverage today wi...
The Australian job market remains very strong, despite the misleading headline figure in the February report yesterday showing a 10,100 fall in overall employment.That was not an accurate reflection of the underlying detail in the report, with a large 47, 600 full time jobs created, offsetting the loss in the January quarter.The fall in the headline figure was due to a 57,700 drop in the number of...
News of the return of Bank of Melbourne to Victoria, along with plans to create 800 new jobs over the next five years has been welcomed by the Finance Sector Union.
Newly promoted business executives in Singapore often "derail" because they lack the capabilities needed for their new positions, according to Mr. Sattar Bawany, an authority on leadership transition.
