The Ivy owner, Justin Hemmes, was allowed to convert a performance bond in order to pay for numerous defects in his $66 million investment in Sydney.
High-end retailer David Jones Ltd (ASX: DJS) has withstood tough times this year as the company reported on Wednesday that despite consumers’ tentative shopping behaviour and the dwindling benefits from fiscal stimulus to households, it still managed to register record profit for fiscal 2010.
Inspite of a four percent drop in its annual profit, Premier Investments Limited (ASX: PMV) expects improvement in the retail environment.
Another night in the currency markets and another post GFC high for the Australian Dollar. The US Dollar weakened after the FOMC statement signalled a move to Quantitative Easing “QE”.
US housing starts rose by a sharper than expected 10.5pct in August to a four-month high. Despite the rise housing starts are still 12pct below the levels seen in April, when activity was being boosted by the homebuyer tax credit.
Blue chip stocks finished slightly higher for a fifth-straight session Tuesday, led by Caterpillar, Hewlett-Packard and Intel, after the Federal Reserve hinted it could take additional measures to stimulate economic growth.
The Australian Bureau of Agricultural and Resource Economics (ABARE) forecasts total commodity exports to rise 26 percent in 2011.
Wednesday trading at the Sydney Futures Exchange could see a drop in Australian shares due to a very slight change in US stocks and a drop in commodity prices.
The Australian currency is almost unchanged on Tuesday's local close after minutes of the Reserve Bank of Australia's September board meeting shortened odds of an October interest rate rise.
The Australian stockmarket has closed lower despite a positive start, as investors stayed on the sidelines ahead of commentary from US Federal Reserve chairman Ben Bernanke tonight AEST.
Gold miner North Queensland Metals Ltd's (ASX: NQM) pronouncement yesterday that Conquest Mining Ltd (ASX: CQT) was likely nearing closer on its quest to take control of NQM may be coming true after all as Conquest announced on Tuesday that its stake on the target company went up from 32.76 percent to 37.49 percent.
South Africa-focused coal miner Continental Coal Ltd (ASX: CCC) reported on Tuesday that it has surpassed the company’s monthly target of 100,000 tonnes when its July output reached a total of 101,899 tonnes of thermal coal at its Vlakvarkfontein coal mining site.
BP Solar is partnering with Verve Energy as the lead contractor to build Australia's largest ever grid-connected solar power plant, a 10 megawatt (MW) utility scale solar photovoltaic (PV) plant in Western Australia.
Oil and gas explorer Bow Energy Ltd (ASX: BOW) said on Tuesday that negotiations for strategic partnership with Liquefied Natural Gas Ltd has bogged down and so is the possibility that the two firms would collaborate on the planned liquefied natural gas (LNG) project in Gladstone, Queensland.
Australia and New Zealand Banking Group (ASX:ANZ) announced today it will commence lending and banking operations in China on October 1 after its wholly owned subsidiary Australia and New Zealand Bank (China) Company Ltd received regulatory approval.
Junior mining company Avanco Resources Ltd (ASX: AVB) saw its market stocks climbing to steep levels as the company revealed on Tuesday that its drilling activities in Brazil yielded high copper grades that could see production very soon.
Forecasts of a rise in mango exports could be affected by the collapse of a company that owns a mango farm in Western Australia.
Power generator Alinta Energy Group (ASX: AEJ) said on Monday that it has struck a deal with its lenders that would see the company’s $3.5 billion debt being wiped out by sale of its assets to a company controlled by the lending consortium.
The Australian currency was slightly firmer at Tuesday noon after the central bank gave another strong indication of an increase in cash rates.
The Australian bourse remains stronger at Tuesday noon although it pared some morning gains, following a rise on United States markets overnight.
Landowners and a housing developer have sent the Queensland government a copy of the deal they have recently signed to develop Palmview.
The Reserve Bank of Australia is ready to increase its policy interest rate if the nation's economic strength continues to point to higher inflation, the central bank said in minutes of its September board meeting released in Sydney today.
Investment bank Nomura Australia released a report showing the strong capability to face funding and liquidity issues.
The Chamber of Commerce and Industry in Tasmania is mulling the possibility of re-consolidating the state’s power generators in hopes of rationalising the region’s energy business following the spiralling electricity costs seen in the state lately.
Australia's Future Fund expanded its portfolio by investing in U.S. hedge funds and developed markets in the 2009 – 2010 financial year.
Energy firm New Hope Corporation Ltd (ASX: NHC) said on Tuesday that it still netted significant profit despite the substantial earnings slide it saw during the past full year as coal productions and exports of the company reached new heights for the year while sale of a major asset ensured its profitability.
The Australian dollar hit a 2 year high overnight, falling just short of USD 0.9500 after positive comments from RBA Governor Glenn Stevens yesterday boosted the local currency.
The US NAHB housing market index remained changed at 13 - the lowest level since March 2009. A reading above 50 indicates that more builders view sale conditions as favourable. The survey´s expectations index for the next six months fell to a 18-month low.
U.S. stocks rallied to their highest level in more than four months as encouraging financial and home builder earnings boosted confidence in the economic recovery.
The Aussie is taking no prisoners so far this week, continuing its rally from yesterday's open of 0.9362 to push through 0.9450 by the end of the Asian session.