BUSINESS

Alibaba Sells Extra Shares; IPO Raises $25B, Breaks Global Record

Alibaba
A Chinese e-commerce giant broke the 2010 IPO record set by another Sino firm, the Agricultural Bank of China, when it raised $22.1 billion capital via the share launch. On Monday, Alibaba Holdings Group (NYSE: BABA) raised $25 billion after underwriters sold 48 million more shares.
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US Dollars

Global Markets Overview – September 22, 2014

After the 24 hour volatility mayhem that saw the FOMC board meeting, Scottish independence vote and Alibaba IPO, today is likely to see the dust settling and a little more calm in the market.
Apple iPhone 6

iPhone 6 Survives Drop, Both Accidental & Intentional

Jack Cooksey is officially the first owner of the Apple iPhone 6 in Australia by lining up all night on Thursday in Perth. However, when he was interviewed by the Today Show, his precious mark in Australian tech history was almost removed because the smartphone dropped to the floor as the nervous gadget owner struggled to open the box.
Alibaba

Alibaba Raises $21.8B In IPO, Starts Trading At NYSE

Chinese e-commerce giant Alibaba Holdings (NYSE: BABA) raised $21.8 billion on Friday when it launched its initial public offering at the New York Stock Exchange. It sold 320.1 million shares at $68, the high end of its revised price range.
Opposing yes and no signs are seen in Edinburgh, Scotland, September 15, 2014. The referendum on Scottish independence will take place on September 18, when Scotland will vote whether or not to end the 307-year-old union with the rest of the United Kingdo

Global Markets Overview – September 19, 2014

The biggest market volatility events of 2014 are almost over. The FOMC was yesterday, Scotland voting for independence is today and Alibaba, with its mass market interest, is tonight.
Unemployment

Australian Stock Market Report – Morning September 19, 2014

In US economic data, jobless claims fell by 36,000 to 280,000 last week - the lowest level since July. US housing starts fell 14.4% in August after an outsized 22.9% gain in July. US building permits fell by 5.6% in August after rising by 8.6% in July. On a more positive note, housing starts in the South (where about half of all US housing construction takes place) rose to an eight month high, while permits in the region rose to their highest level since April 2008.
A man rests in a mud pit near the main stage at the Woodstock Festival in Kostrzyn-upon-Odra, close to the Polish-German border

Ex-Male Strippers For Rent At $125/Hour To Act As ManServants

A new startup in the US is offering handsome male servants who would pamper their employers in the tradition of butlers for $125 per hour. The firm, aptly named ManServants, was established by two young female entrepreneurs. Some of their man servants are former strippers.
Global Stock Market Indices

Australian Stock Market Report – Midday September 18, 2014

Despite a firmer start this morning, the Australian sharemarket is trading at its lowest level since 2 July at lunch. The All Ordinaries Index (XAO) is below the key 5400pt mark, is down for the seventh day and this is the worst week for local markets in 15 months. Volume iselevated partly due to index option expiry today which tends to result in a volume spike.
Alibaba

Alibaba Hikes IPO Price Range To $66-$68 From $60-$66

Chinese e-commerce giant Alibaba Group Holding (NYSE: BABA) increased the price range of its initial public offering scheduled to launch on Friday, Sept 19. The new price range of $66 to $68 from the previous $60 to $66 is an indicator of the strong demand for shares of the e-commerce portal founded by former teacher Jack Ma.
Janet Yellen

Global Markets Overview – September 18, 2014

The FOMC statement retained 'considerable time' and changes to the economic statement were limited; however, the Summary of Economic Projections were all slightly higher than expected, which triggered a mass wave of USD buying.
Federal Reserve

Australian Stock Market Report – Morning September 18, 2014

The US Federal Reserve left interest rate settings unchanged with the federal funds target range at zero to 0.25% and decided to wind back asset purchases from $25 billion to $15 billion a month. The Fed retained its key statement "that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program".
New York Stock Exchange

Australian Stock Market Report – Afternoon September 17, 2014

Buyers made several attempts at pushing local shares higher in early trade on Wednesday, although their efforts were brought to heel quickly. As lunchtime loomed on the east coast the market was again dipping into the red. The softer tone local came despite US share markets posting solid gains overnight with a growing sense that the US Federal Reserve will remain cautious about the process of increasing interest rates and any potential rise in 2015.
Janet Yellen

Australian Stock Market Report – Midday September 17, 2014

Buyers made several attempts at pushing local shares higher in early trade on Wednesday, although their efforts were brought to heel quickly. As lunchtime loomed on the east coast the market was again dipping into the red. The softer tone local came despite US share markets postingsolid gains overnight with a growing sense that the US Federal Reserve will remain cautious about the process of increasing interest rates and any potential rise in 2015.
New York Stock Exchange

Australian Stock Market Report – Morning September 17, 2014

In US economic data, producer prices were unchanged in August. Excluding food and energy, prices were up 0.1%. Producer prices are up 1.8% on a year ago. Chain store sales were up 3.6% on a year ago, down from the 4.9% annual gain in the previous week.

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