BUSINESS

Oil giant Royal Dutch Shell is selling its majority shares in Woodside Petroleum for $5.32 billion after tax. That is equivalent to 157 million shares out of 190 million, in effect reducing its stake in the oil and gas company to 4.5 per cent from 23 per cent.

After a downbeat European session, sentiment managed to recover in US trade, despite a continuation of Iraq concerns. There was some positive data out of the US including the Empire State manufacturing index, industrial production and the NAHB housing market index. However, investors seem to be looking ahead to the Fed meeting. The IMF was also on the wires downgrading the US growth forecast for 2014 to 2% (from 2.8%) and maintained 2015 growth at 3%. Major currency pairs just continue to hold t...

In US economic data, the New York Federal Reserve manufacturing index rose from +19.01 to +19.28 in June, above forecasts for a result near +15. Industrial production rose by 0.6% in May, just above forecasts. And capital flows into the US totalled US$136.8 billion in April after the previous month recorded outflows of US$126.1bn.

Petra Diamonds has probably unearthed the largest diamond in its Cullinan mine in South Africa. It is a 122.52-carat rare blue diamond estimated to be worth £60 million.

It has been 100 days since Malaysia Airlines Flight 370 has gone missing on March 8, and yet authorities are still no closer to finding out the truth about its disappearance. As efforts to search for the vanished plane begin to wane, the frustrations of the 239 passengers and crew members’ families increase.

The Australian sharemarket rose only modestly today, with a lack of major data or corporate events keeping investors at bay. The All Ordinaries Index (XAO) rose by 0.1 per cent, with the recently underperforming miners managing to record healthy gains after four straight weeks of losses.

The Canadians, in commemoration of their country's 150th birthday in 2017, have handed a list to their government the top 10 greatest heroes that they consider worthy to be recognized.

The economy of New Zealand grew 1.1 per cent during the first three months of the year compared to 0.9 per cent in the fourth quarter of 2013. According to economists, the country's economy had probably accelerated during the first quarter of the construction and rebuilding in Christchurch.

More than 450 franchises are participating in the International Franchise Expo to be held on June 19 to 21 at the Jacob Javits Center in New York City. The event offers franchise business opportunities to entrepreneurs via 70 seminars and in-depth symposia.

Last Friday, Apple declared publicly that the company has launched a new program, which invites iPhone users to get a replacement of their iPhone chargers that are deemed to be faulty. This invite is applicable for iPhone users belonging to 37 different countries across the globe.

Sellers have been on the front foot in early trade on Monday, the market moved quickly to the 5380 area at the start of the session, although buyers have been able to defend the level thereafter.

Ringly, a ladies’ cocktail ring is both fashionable and innovative as it lights up on smartphones’ notification

Two Philippine air carriers have sought to file additional flights to Canada after the bilateral air-services talks between the two countries were concluded in May this year.

US markets finished the week on a positive note and largely ignored the negative sentiment from Asia and Europe. Investors even brushed off some disappointing economic readings with PPI and consumer sentiment coming in below expectations. The most significant move on Friday was perhaps Japan's sharp reversal higher after Prime Minister Shinzo Abe suggested he is looking to start cutting corporate taxes in 2015. Abe reached an agreement with lawmakers and this helped Japanese equities rally, d...

In US economic data, producer prices fell by 0.2% in May with the core measure (excludes food and energy) down by 0.1%. Economists had expected 0.1% gains for both measures. Consumer sentiment fell from 81.9 to 81.2 in June, below forecasts centred on 83.0.

Australian Prime Minister Tony Abbott said on Friday at the Asia Society dinner in Texas that the country should target to be a global affordable energy superpower. And the way to do that would be for the country to continue making available to the world as fuel.

Apple's stock price target has increased with analysts predicting strong demand for the iPhone 6. They also expect the company to release new product categories that will further drive growth. According to reports, RBC Capital has raised its price target for Apple shares to $100.

The All Ordinaries Index (XAO) fell by 0.45 per cent today, hitting a two-month low and sliding for the third day. Despite some better than expected Chinese economic news late this afternoon, the Australian sharemarket finished lower with continued unrest in Iraq pushing both oil and gold prices higher while base metals fell in unison.

Arabic and Islamic nations have threatened to boycott products from Australia after the government's decision to change calling the West bank from "occupied" to "disputed" territory.

Investors piled in for Coca Cola Amatil as stocks become more appealing after $270.6 million sell

Local and global stocks are wobbling in the market on oil price hike

The Australian sharemarket is losing ground for the third straight day and is at a two-month low due to a renewed focus on Iraq. President Obama hasn't ruled out the possibility of military action in the troubled nation. As expected sharemarkets and commodities have been pushed lower by the uncertainty. Looking ahead, plenty of Chinese data in the dying stages of the session will be in focus at 3.30pm (AEST) this afternoon.

When Apple Inc announced a 7-to-1 stock split in April, investors knew it will bring the company's price per share down. After Apple's stock price dropped 85 per cent after the split, the stock has become a more attractive investment.

The near-term pullback in equities continued overnight, with investors focussing on developments in Iraq and a round of surprisingly weaker-than-expected US economic data. Tension in Iraq escalated, while US unemployment claims and retail sales came in below expectations. This gave investors an excuse to sell equities with sentiment relatively risk averse.

In US economic data, retail sales rose by 0.3% in May, short of forecasts for a 0.6% gain. But the April reading was revised up from +0.1% to +0.5%. Import and export prices rose by 0.1% in May. New claims for unemployment insurance rose by 4,000 to 317,000 in the latest week, above forecasts for a reading of near 310,000.

Mineral Resources acquired a 12.8 per cent stake in Aquila Resources, beating China's Baosteel Group in acquiring a bigger stake in a large-scale iron ore project that would develop a $6.9 billion port, rail and mine.

The ASX 200 ended lower for a second day on Thursday with sellers showing preference for the materials sectors, although most sectors ended in the red. The only sector to resist the efforts of sellers was the healthcare index which ended with a gain of 0.1%. Value today was solid with $4.3bln in shares changing hands.

With all the online buzz going on for Galaxy Premiere 2014 Tab, here are five things to expect.

Toyota Motor (TM) Corp. shares are up by 0.3 percent in early market trading, The Street reported.