BUSINESS

Australian Stock Market Report – Midday June 25, 2014

The Australian sharemarket is losing ground for the second straight day, with weakness across U.S markets and continued conflicts in Iraq and Ukraine keeping investors edgy. The All Ordinaries Index (XAO) is back below 5400pts, falling by 0.5 per cent at lunch.
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Australian Stock Market Report – Afternoon June 24, 2014

The Australian sharemarket erased around half of Monday's improvements, dragged lower by US weakness. The All Ordinaries Index (XAO) finished 0.3 per cent softer, with the major banks the worst performers. Improvements amongst the industrials and property trusts were short lived today and all sectors ended in the red.
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Google Inc. Pays Only $220K Tax in New Zealand Despite Earnings of $10M

Google Inc may be paying more taxes in New Zealand with a bill of $227,074 in 2013. However, according to reports, the Internet search giant has earned US$15.42 billion in global revenues in the first quarter of 2014. Comparing Google's tax bill in New Zealand and its total earnings, the amount the company paid to the government may be deemed not enough.

Australian Stock Market Report – Midday June 24, 2014

The Australian sharemarket is losing ground at lunch, with U.S. market weakness providing a negative lead for local shares. The All Ordinaries Index (XAO) is down 0.4 per cent, with all sectors in the red. On Monday, the Australian market rose by 0.4 per cent thanks to better than expected economic news in China.

Global Markets Overview – June 24, 2014

The major development from overnight trade was news that Iraq's army enjoyed a minor victory after recapturing some territory from militants. This resulted in a sharp decline in oil prices, particularly Brent crude which is more sensitive to geopolitical issues. The drop in oil along with some encouraging US economic data in the form of flash manufacturing PMI and existing home sales helped US markets come off their lows and finish the session relatively flat. However, it was a different stor...

Australian Stock Market Report – Morning June 24, 2014

In US economic data, the Markit ´´flash´´ manufacturing purchasing manager's index rose from 56.4 to 57.5 in June, above forecasts near 56.5. Existing home sales rose by 4.9% to a 4.89 million annual rate in May, above forecasts of 4.73m. And the national activity index rose from minus 0.15 points to +0.21 points in May.

Australian Stock Market Report – Midday June 23, 2014

The Australian sharemarket is kicking off the new week a little firmer, thanks to another record close in U.S. markets on Friday and some better than expected Chinese economic news this morning. The All Ordinaries Index (XAO) is up 0.9 per cent, with all sectors in the black at lunch.

Global Markets Overview – June 23, 2014

Risk currencies got off to a bit of a negative start this morning, despite a lack of fresh sentiment drivers for the region. Perhaps some reports suggesting escalating Iraq tension have seen risk modestly offered this morning. This is despite US equities finishing the week on a modestly positive note in a fairly quiet session. The only notable news out of the weekend were comments by ECB President Mario Draghi suggesting the ECB has prolonged banks' access to unlimited liquidity up to the end...

Australian Stock Market Report – Afternoon June 20, 2014

The losses accelerated for the Australian sharemarket, with the All Ordinaries Index (XAO) slumping by 0.82 per cent. Despite today's weakness local shares still managed to rise by 0.3 per cent this week thanks to a 1.5 per cent surge on Thursday.

China Rare Earths: Increases 2014 Mining Quotas on Light Rare Earths

China's Ministry of Land and Resources (MLR) has announced the country has increased its 2014 mining quotes on light rare earths at 105,000 tonnes, a jump of 12 per cent from last year. Mining quotas for heavy rare earths and tungsten, in the meantime, were retained at 2013 levels.

Radio Survives Competition from New Media

It has been said that print media's survival is at risk because of new media. More people have stopped buying the traditional newspaper and instead shifted to the Internet or television and radio for news.

Australian Stock Market Report – Midday June 20, 2014

The Australian sharemarket is losing ground for the third time this week, with almost all sectors in the red at lunch. The All Ordinaries Index (XAO) is down by 0.5 per cent, taking some of the shine off yesterday's 1.5 per cent surge. U.S. markets managed to edge higher despite the threat of further military intervention in Iraq.

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