BUSINESS

Gold futures bounced on demand as a reaction to the Federal Reserve's announcement that the U.S. economy's recovery is not as fast as earlier expected.

Australia's telecommunications giant Telstra (AZX: TLS) today announced a 4.7 per cent decline in full-year net profit and forecast lower earnings in the year ahead.

Giant beverage firm Coca-Cola Amatil Ltd (ASX: CCL) announced on Thursday that it has netted high earnings from its first half operations this year, garnering some $212.7 million from the first six months leading to the end June and improving by 12.1 percent from the net profit posted in the previous corresponding year.

The Australian bourse is set to dive today after receiving negative leads from offshore trading overnight. Key market indices all plunged, while oil slid and only gold gained among key metals.

Australian airline company Qantas Airways (ASX:QAN) today announced its net profit for the year to June 30 slid 4.3 per cent to $112 million from $117 million in the previous corresponding period.

A delayed reaction to the Fed. Weak Chinese data. Currency concerns in Japan. GDP downgrade in the UK. You name it. Dow down 265. (Locked for subscribers until 10:00 AEST)

No wonder the Commonwealth Bank (CBA) says it is cautious about its prospects for the 2011 financial year, despite po...

No wonder the Commonwealth Bank (CBA) says it is cautious about its prospects for the 2011 financial year, despite po...

More evidence yesterday that China's economy is cooling, despite a rise in consumer price inflation thanks to the surge ...

Stockland, Australia's biggest residential property trust, might have stormed back to full-year profit because of inc...

The slump in global markets in the June quarter, as well as in Australia, has cut the number of takeovers, global and lo...

Even as consumer confidence rises, business confidence and conditions remain weak.The NAB's business confidence and cond...

Domestic air fares have increased to their highest level in more than a year, with discount fares more than 5 per cent higher in August.

The World Trade Organisation has publicly released its final ruling, vetoing stringent Australian quarantine rules and allowing the widespread importation of New Zealand apples into Australia.The 598-page ruling was released on Monday, and found that the import risk analysis underpinning Australia's...

A New Zealand judge has ruled that shechita kosher slaughter practices in New Zealand can resume until a lawsuit filed against Agriculture Minister David Carter comes to trial, most likely next year.Justice Dennis Clifford of Wellington's High Court confirmed to the Jerusalem Post that the Crown Law...

UK grocery retailer Sainsbury's will roll out their "eco-friendly" milk bags and jugs across their milk range, after a successful trial of 2% fat milk bags, which sold at double the expected rate.Sainsbury's said that milk is one of their biggest selling lines. Shoppers are now buying 120,000 semi-s...

Fonterra has been forced to publicly defend the quality of its products amid allegations that Chinese customer and infant formula maker Synutra, whom Fonterra supplies, has sold milk powder that has caused premature breast development in three girls.The New Zealand dairy giant yesterday confirmed it...

A snapshot of economist responses to today's Australian employment data for July, where jobs again increased but the unemployment rate also rose thanks to a higher participation rate.

A glance through the latest expert views and predictions about commodities with Macquarie arguing zinc prices have overshot fundamentals, China making changes in its commodity markets and BA-ML seeing upside for companies servicing Oz Coal mines.

Following its announcement of interim dividend non-payment for the full year 2009/10 in order to retain funds and finance growth projections in the United Kingdom, ThinkSmart Ltd shares plunged by more than 13 percent on Wednesday.

The Australian market sees heavy selling

The Australian share market closed sharply lower, dragged down by weaker banks and miners as concerns about the global outlook hampered investor appetite for risk.

The Commonwealth Bank (ASX: CBA) defended its record net cash profit of $6.1 billion, up 42 per cent from last year, saying the group supported thousands of Australians through employment and dividend payouts.

The Australian operations of street wear specialist Ed Hardy has entered voluntary administration as financial adviser Deloitte announced on Wednesday that the clothing company succumb to sales slowdown.

The Minister for Primary Industries and Water, Bryan Green, today launched a new initiative from Australian supermarket group Woolworths (ASX:WOW) that will benefit farmers in Southern Tasmania.

Sir Richard Branson today announced that Virgin Atlantic Airways, Virgin America and V Australia/Virgin Blue are teaming up to offer each airline's loyalty program members the opportunity to earn miles or points when taking flights on their sister-branded airlines.

Uranium miner Extract Resources Ltd (ASX: EXT) revealed on Wednesday a tenfold resource upgrade on its Rossing South project in Africa, elevating the site project as the world’s fifth biggest established reservoir of uranium so far.

The Australian stock market was lower by noon, dragged by the banking and mining sectors, which both experienced losses.

The Australian currency was lower by midday following losses on Asian equity markets.