As commentators continue to debate the fall-out from Yellen's first run as chair after quantifying 'a considerable amount of time' as around six months. The markets have moved on from the press conference by completely erasing all losses from her speech.
In US economic data, new claims for unemployment insurance rose by 5,000 to 320,000 in the latest week. Existing home sales fell by 0.4% to 4.60 million in February, as expected. The leading index rose by 0.5% in February, above forecasts for a 0.2% gain. And the Philadelphia Federal Reserve index rose from minus 6.3 points to +9.0 in March, above forecasts for a result near +3.8 points.
In yet another example of the continuous widening gap between executive pay and rank-and-file compensation, Sears Canada almost doubled the salaries of their top executives in 2013 while laying off about 2,000 employees.
Telecom giant Vodafone will cut the roaming charges for its pre- and post-paid subscribers to $1 per megabyte for a one-minute call. The new rate, which takes effect on March 23, would cut the 20 different call rates of Vodafone covering 200 different countries.
The fallout of the global financial crisis is far from over as the latest report by the Organisation for Economic Cooperation and Development revealed high unemployment rates and low income have led to the worsening socioeconomic conditions in several countries, including Australia.
Local stocks fell for the second time this week, with the All Ordinaries Index (XAO) down 1.1 per cent. No sectors escaped the selling by the close of trade, with losses between 0.2 per cent and 2 per cent recorded across the market. The mining sector was the biggest drag, slumping by 2.03 per cent. Australia's four largest miners - BHP Billiton (BHP), Rio Tinto (RIO), Newcrest Mining (NCM) and Fortescue Metals (FMG) wiped out 11.8 pts from the All Ordinaries Index (which fell by 60 pts today...
New Zealand's economy grew 0.9 per cent in the fourth quarter of 2013 which indicates the programs of the government are working, according to Finance Minister Bill English. New figures released on March 19 showed that the country's GDP had increased to 0.9 per cent in December which total growth in a year to 3.1 per cent. Compared to the same quarter in 2012 which had an annual average growth of 2.7 per cent, New Zealand's GDP was 3.1per cent higher in the recent December quarter in 20...
A defect in the water filtering system at the crippled Fukushima nuclear plant had forced operator Tokyo Electric Power (TEPCO) to suspend yet again its decontamination process at the facility.
A recent report from ISS claims that CEOs of Australia’s top companies are misleading shareholders
The Australian sharemarket is losing ground for the second day this week and is trading at a one-month low. The All Ordinaries Index (XAO) is down 0.9 per cent, with only the defensive utilities managing to rise modestly.
Janet Yellen's first address as chair seems to be going smoothly. As expected, the Fed continued to taper its asset purchases program by moving the monthly rate by any other $10 billion to $55 billion from $65 billion a month, split evenly between treasuries and mortgage-backed securities.
The US FOMC meeting resulted in the Fed reducing monthly asset purchases from $65 billion to $55 billion. The minutes suggested a shift in forward guidance. The Fed dropped its promise to hold rates steady ´´well past the time´´ the US unemployment rate falls below 6.5% and will look to use a wide range of measures in deciding when to raise rates. The Fed´s assessment of the recent US economic weakness was chalked up to adverse weather conditions. The US Current account deficit narrowed from $96....
The Australian Securities and Investment Commission (ASIC) is taking part in a global international investigation into foreign exchange rate riggings said to be as serious as the 2012 Libor rate scandal.
A report claiming iPhones will have bigger screen could add over $3 in EPS in the second half of the year. This was published by Brian Marshall, an ISI Apple analyst.
Russian billionaire sold shares of Apple Inc. (AAPL:US) as Apple tops Billion Dollar Brands list
The Australian share market has closed slightly firmer today, with the All Ordinaries Index (XAO) adding 12.8 points or 0.2 per cent by close to 5373 points. The market had a volatile session, with the All Ords being down to 5351 points at one time, despite positive offshore gains.
New Zealand has signed a currency exchange deal with China on the first day of Prime Minister John Key's arrival in the world's second largest economy. Together with China's Premier Li Kequiang, Mr Key announced the launch of direct trading between New Zealand's dollar and China's renminbi in the Chinese onshore market.
Australian dairy milk company, Oz Dairy, was accused of tampering expiry dates on cans of baby formulas
The Australian sharemarket is modestly higher at lunch, with the All Ordinaries Index (XAO) up by 0.1 per cent. Investors are remaining on the sidelines as the U.S. central bank is halfway through its two-day monthly meeting. Global sharemarkets surged overnight as Russian President Vladimir Putin said he has no plans to seize other areas of Ukraine.
Residents of Kuda Huvadhoo in Dhaalu Atoll, a remote island in Maldives, have claimed seeing a "low flying jumbo jet" white aircraft with "red stripes" fly across the island on the morning the Malaysia Airlines MH370 was first reported missing.
As expected, the Russian Federation will look to absorb Crimea and for it to be fully integrated as early as January 1 2015. Celebrations in Red Square kicked off on the announcement from President Putin that the referendum from the weekend was evidence enough that Crimea 'wants to be run by a stable sovereignty, and that is Russia.'
In US economic data, the consumer price index rose by 0.1% in February to stand 1.1% higher than a year ago. The core rate (excludes food and energy) also rose 0.1% to be up 1.6% on a year ago. Housing starts eased by 0.2% to a 907,000 annual rate in February but permits rose by 7.7%. And net capital inflows to the US totalled $83 billion in January following outflows of US$126.7 billion in December.
Apple Inc's iPad sales in Australia is challenged by cheaper tablets running on Google's Android operating system as tablet sales in the country doubled in 2013. According to a new study, the less expensive Android tablets are slowly gaining on Apple in Australia. Technology firm Telsyte has released data from a study which revealed that 4.8 million tablet computers were sold in Australia in 2013. The firm estimates that this translates to 9.4 million Australians owing and using tablets. A...
Telsyte survey found that sales of Apple tablets rose by 52 per cent while sales of Android tablets rose by a whopping 186 per cent
The Australian sharemarket ended higher for just the second time in seven trading days. The All Ordinaries Index (XAO) finished 0.5 per cent firmer to 5360.2, remaining below the 5400.0pt mark but bouncing from a one-month low. All sectors finished higher by the close.
At least three million people from around the world have joined a crowdsourcing project to help locate the week-old missing Malaysia Airlines flight MH370 airliner.
Buyers were able to make an impression on the ASX200 in early trade on Tuesday after the index shed 1.76% in the last 2 days. The improved tone saw every ASX sector trade higher over the course of the morning. The positive momentum was dominated by Materials and Financials, helped by economic news out of the US which revealed a better than expected reading on industrial production which rose by 0.6% in February, above forecasts for a 0.1% gain.
With nary a competition in sight, Canada's big three wireless carriers have all raised prices for their monthly plans by $5 as well as on their discount brands Koodo, Fido and Virgin. All their base plans now cost the same.
Some of the weakest political and economic sanctions have been imposed on Russia overnight as Crimea is officially recognised as a sovereign state by the Russian Parliament, with President Putin signing a decree.
n US economic data, industrial production rose by 0.6% in February, above forecasts for a 0.1% gain. The New York Federal Reserve manufacturing index rose from 4.48 to 5.61 in March, near market forecasts. And the National Association of Home Builders index rose from 46 to 47 in March, short of forecasts centred near 50.
