BUSINESS

Local market off to a strong start

The local stock market started on a strong footing this morning on the back of better than expected new home sales in the US. This is the second day of positive moves for the local bourse, with base metal prices also lending support.

AIR Midday Market Roundup

The market is up 25. The SFE Futures were up 26 this morning.Wall Street closed up 100 overnight. It was the third strai...
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AUD/USD – Trade the New Range

The data supporting the global economic recovery continues to be mixed - patchy, inconsistent over time, and varying enormously by region - and in no way supporting the idea of a "V-shaped" recovery, the popular view six months ago.

Macarthur drops CITIC deal

Queensland-based coal mining company Macarthur Coal Ltd (ASX: MCC) has abandoned a $110 million deal to buy out CITIC Resources' interests after some minority interests failed to give up their pre-emptive rights in the project.

IAG expects 2010 profit decline

Insurance Australia Group Ltd (ASX: IAG) expects to post a decrease in annual profit in fiscal 2010. The company said it forecasts better performance next year and has made changes to its executive team.

Australian Stock Market Report

US new home sales soared by 23.6pct to a 330,000 annual rate in June, well ahead of forecasts centred on a result near 320,000. The stock of unsold homes fell from 9.6 months to 7.6 months.

Daily Forex Commentary 27/7/2010

The Aussie dollar held on to support around 0.8940 during the Asian session despite a lower than expected second quarter Producer Price Index or PPI as its referred to.

Iconic 'Happy Little Vegemites' ad returns

Kraft brings back the iconic 'Happy Little Vegemites' ad to the TV screen, using a reworked version of the original tune and visuals, as part of a new campaign to promote the typically Australian breakfast spread Vegemite.The new television commercial, which launched yesterday, combines the original...

Kirin Holdings cuts H1 profits, sales forecast

Kirin Holdings has cut its sales and profits forecast for the first half of 2010.Kirin expects net sales to be JPY43bn (US$492m) for the six months to the end of June, 14% lower than previously predicted, the Japanese drinks giant said today (26 July).It added that net profits are expected to be JPY...

Coles sales trump Woolies in fourth quarter

Coles retail sales growth in the fourth quarter has once more topped Woolworths. ?Total Coles’ food and liquor sales for the fourth quarter were $5.9 billion, up 4.2 per cent, with comparable food and liquor store sales growth of 4.2 per cent.Total Coles’ food and liquor sales for the financia...

Big Pharma Eyeing Mesoblast?

Mesoblast has been recording good Phase II trials results in bone marrow transplantation and Southern Cross Equities suggests this could make it a target of Big Pharma.

Boss fined $16,900 for underpaying staff

A Sydney company director has been fined $16,900 for underpaying eight of his former staff. The employees, who received no money at all for weeks on end, were underpaid a total of more than $31,000.

Connxion Ventures corrects revenue for FY 2010

The Directors of data and transaction services company Connxion Ventures Limited (ASX: CXN) today announced that based on June billings and unaudited financial accounts, full-year revenue for 2010 are now expected to be $12.6 million, a 14.5 percent increase on the previously announced forecast of $11 million.

Mining tax publicity wars set to continue

A resumption of the publicity campaign against the Labor government’s Mineral Resources Rent Tax is part of political schemes aimed at the elections, Treasurer Wayne Swan claims.

Leighton Asia secures 5 year Indonesia mining contract

Australia's largest project development and contracting group Leighton Holdings (ASX:LEI) said today that its wholly owned subsidiary Leighton Asia has secured a A$172 million contract for the provision of mining services at the Martabe Gold Mine in North Sumatra Province, Indonesia.

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