BUSINESS

Bradken's Upside Outweighs ESCO License Loss

- Bradken's recent capital raising has strengthens balance sheet- Increased scope for bolt-on acquisitions- Moelis sees value leading into an earnings growth acceleration post FY12By Chris ShawAt the end of last month Bradken ((BKN)) reiterated full year earnings guidance for a result in EBITDA...

Australia Parliament justifies carbon tax

Treasurer Wayne Swan is set to release today the Productivity Commission's report on international climate regimes at noon in Brisbane. Mr Swan will try to justify to opposing industry that seven of Australia's top-10 trading partners have adopted major policies to reduce pollution. The coal and gas industries have continue to oppose the carbon tax legislation further arguing the report should look at the measures taken by Australia's competitors.
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Sony launches 'PlayStation®Vita'

Sony Computer Entertainment Inc. announces PlayStation®Vita (PS Vita) (PCH-1000 series) as the official platform name for the next generation portable entertainment system (codename: NGP). Wi-Fi model will be available for 24,980 yen (including tax) in Japan, $249 in US and euro 249 in Europe, 3G/Wi-Fi model will be available for 29,980 yen (including tax) in Japan, $299 in US and euro 299 in Europe and successively launch in global market starting the end of 2011.

Parrot introduces AR.Drone

Parrot, leaders in wireless peripherals for mobile phones, revolutionised the video gaming world by creating the AR.Drone, the first flying object in Augmented Reality piloted through Wi-Fi.

Brent Surges Ahead Of West Texas

- The Brent-WTI spread has blown out to over US$17- The gap reflects lack of storage at Cushing- The global oil price is US$117/bbl not US$100/bblBy Greg PeelAs explained back in February in an FNArena feature story (Death In West Texas), this year has seen a rapid extension of the usually tight pre...

Rio Tinto deploys more driverless trucks in Pilbara

Global mining giant Rio Tinto has announced on Wednesday the doubling of the company’s fleet of automated-driven truck haulers currently deployed in the Pilbara region of Western Australia to further raise its ore production.

Iluka In A Sweet Spot

- Iluka has (again) lifted zircon and TiO2 price guidance- Stockbrokers have responed by (again) lifting earnings estimates- Not everyone sees a higher share price aheadBy Chris ShawMineral sands play Iluka ((ILU)) has enjoyed strong price increases for its products in recent months, which has drive...

Advertising on deli labels a hit for Il Mercato

Packaging and labelling company ProScales has announced the launch of its new deli labelling system, AdPro, which prints shopper-marketing directed ads on deli labels.

The Economy: RBA Sits On Rates

No rate rise from the Reserve Bank, in fact it was a bit more of the same according to yesterday's post meeting statement from Governor Glenn Stevens.

The Overnight Report: No QE3

By Greg PeelThe Dow closed down 19 points or 0.2% while the S&P lost 0.1% to 1284 and the Nasdaq was basically square.

Australia's eastern states see incomes boost

Better seasonal conditions combined with higher grain and oilseed prices are anticipated to lift cash incomes for grain producing farms in 2010-11, a new report released by ABARES says.

Nokia: Losing market dominance, investment grade downgrade

Finland-based Nokia is now facing the challenge to raise its market share amidst debt rating cut to the lowest investment grade by Fitch Ratings due to the declining market share of its Symbian smartphones.

Upside risks takes on markets

Australia's stock market has opened at a modest pace taking on from overnight leads as Wall Street gave up mid-session gains as Federal Reserve chairman Ben Bernanke hinted that further stimulus is required to boost the US economy.

RBA Backs Down

By Greg PeelGoing back a couple of months, no one expected another RBA cash rate rise was likely before August after the June quarter GDP result was in.

Global Markets Overview 06/08/2011

A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier rally in U.S. stocks, sending major indexes in the final minutes of Tuesday's session to their fifth-consecutive drop.

HP earmarks $2 billion to finance hybrid cloud projects

HP Financial Services, a subsidiary of leading information tech hardware company Hewlett-Packard, announced it will be making up to $2 billion available to "help clients finance their way into the cloud."

World Market Overview 06/08/2011

The Australian share market closed flat despite investors being buoyed by the central bank's largely unchanged outlook for the domestic economy.

Australian Stock Market Report 06/08/2011

US Federal Reserve Chairman Bernanke acknowledged the recent slowdown in the US economy however gave no indication that the central bank was considering further stimulus.

Sony Corp-Brazil attacked by hackers

Sony cut off its Brazilian music entertainment website while it looks into a possible breach. Sony also is investigating a hacker group's claim that it stole data related to the company's game operation. The possible attack on Sony's Brazilian website may have altered some content, a spokesman said.

Japan: Tepco Speculation Sends Market Lower

Tokyo Electric Power Co in Tokyo: the shares are down more than 90% from before the March 11 quake, tsunami and Fukushima nuclear power station disasters.

Weak trading besets markets

Weak trading sessions in the US and European markets will likely rebound in local trading on Tuesday. Investors at the Australian Stock market would likely be on the sidelines as there would be some reluctance ahead of the RBA interest rate pronouncement at 2:30PM AEST.

World Market Overview 06/07/2011

Stocks dropped Monday for a fourth straight day, as concerns about an economic slowdown continued to weigh on investor sentiment.

The Australian paywall set in October

By the end the year, most Australian newspapers will be charging for the content they post online, following the success of leading business daily The Wall Street Journal and amid softening revenues for newspapers from print subscriptions and advertisements.

Africa's Riding The Red Dragon

By Richard (Rick) MillsAhead of the herdAs a general rule, the most successful man in life is the man who has the best information?When I entered the business world, three-fourths of the world was closed ? China, Russia, Vietnam, India, most of Africa.

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