BUSINESS

Across Asia, regional markets are all pushing higher in afternoon trade after Intel reported a stronger-than-expected Q2 result and Singapore upgraded its 2010 economic growth forecast.

A rising tide has lifted all the boats on the share market today. Buoyed by optimism about the US earnings outlook and an overnight bounce in commodity prices, screens are a sea of green. An opening above the technically significant 4410 level on the ASX200 Index has also spurred buying.

The rising tide seems to have lifted all boats in the local market this morning with strong rises across almost all sectors.

The Australian sharemarket is up 1.4pct or 61.7 to 4454.2 at lunch with all sectors trading in the black.

Consumer confidence in Australia has bounced in a much stronger fashion than was expected.

Global miner Rio Tinto has obtained $226.4 million in funding for the expansion of its iron ore operations in Western Australia's Pilbara region.

The local unit opened 1.3 US cents higher today as strong earnings reports in the US underpinned investor confidence for equities and commodity-driven currencies.

National Australia Bank’s plan of keeping its standard variable rate lower has earned it a bigger share of the mortgage market.

GSO Capital Partners LP, the credit business of The Blackstone Group (NYSE: BX), has announced the final closing of the Blackstone / GSO Capital Solutions Fund (“the Fund”) with total commitments of over $3.25 billion. The Fund’s strategy is focused on providing privately negotiated “capital solutions” to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding r...

Hedge funds as measured by the Greenwich Global Hedge Fund Index (“GGHFI”) cut net exposures and limited the losses experienced by markets in June. The GGHFI shed 0.84% compared to global equity returns in the S&P 500 Total Return -5.23%, MSCI World Equity -3.56%, and FTSE 100 -5.23% equity indices. 42% of constituent funds in the GGHFI ended the month with gains.

In the US overnight, stocks climbed for a sixth session in a broad based rally. Optimism over stronger-than-expected results from Alcoa and Intel, as well as a positive bond auction in Greece were the main catalysts.

The US trade deficit widened from US$40.32 billion to an 18-month high of US$42.27 billion in May, above forecasts centred on a shortfall near US$40.3bn.

U.S. stocks shot higher Tuesday, extending the recent winning streak to six sessions as better than expected earnings from Alcoa and CSX boosted expectations for upcoming reports from bellwethers like Caterpillar.

The National Australia Bank says business confidence and conditions were mixed in June.The business conditions index ro...

Energy Resources of Australia shares fell more than 4% yesterday after it reported a 36% slump in first-half uranium ox...

Energy Resources of Australia shares fell more than 4% yesterday after it reported a 36% slump in first-half uranium ox...

Meanwhile, mineral sands miner, Iluka Resources, has warned that rutile production at its Murray Basin stage 2 project ...

A big day yesterday for earthmoving equipment provider, Emeco Holdings.It revealed in a statement to the ASX that it is?...

Wall Street surged higher once more in the wake of positive initial earnings. Intel's post-market result suggests a seventh consecutive rally tonight. Dow up 146.

SABMiller, one of the world's leading brewers, is calling on the brewing industry to improve disclosure on environmental and social impacts.The company is taking a lead by publishing detailed information about the impacts of its own operations around the world, in an online format which allows for g...

The Food and Agriculture Organization of the UN (FAO) is granting free and open access to its central data repository, FAOSTAT, the world's largest and most comprehensive statistical database on food, agriculture, and hunger, the UN agency announced last week.Previously, it was possible to download ...

Nearly half of all Australian households say they worry over the threat of looming interest rate rises, but only 20 per cent say they expect to have to carry increased debt levels in the next few months.According to the results of the latest survey by Dun & Bradstreet, which polled consumer exp...

Australian banking major National Australia Bank (NAB) embarked on a strategy this year of discounting its standard variable rate, is now starting to reap the rewards of the move, as it acquires a larger share of the home loan market.The number of home loans underwritten by Australia’s fourth larg...

Beijing's pressure valve of increased low-end housing supply may even serve to support sustainable property prices in China, suggests GaveKal, rather than spark a much feared crash.

Both credit Suisse and Deutsche bank have reviewed the Australian pathology sector to account for changes in market conditions and expectations.

The Chinese government has laid down the law to the country's property and steel industries, and in doing so caused cons...

The Australia 200 CFD Index finished 0.7% lower, with material, energy and industrial names detracting the most points.

Gindalbie Metals Limited, emerging iron mining firm, projects to shell out $80.4 million in developing its Karara development project worth about $2 billion for the third quarter of this year, which is situated at the midwest area of Western Australia.

IUCN (The International Union for Conservation of Nature) and Australia's third largest mining firm Rio Tinto today entered into a formal collaboration agreement, committing to work together over a three-year period.