Iron ore prices have witnessed a deviation from market expectations as the demand and prices of Chinese steel see new highs. Following three days of losses, iron ore spot markets returned to stable conditions on Friday.
Iron ore prices witnessed a surprising upsurge as they crossed US$90 (AU$117.2) a tonne. This is the first time in more than two years the price has gone beyond the anticipated mark. The last time the same feat was achieved was in August 2014.
Australian company Incitec Pivot has been revealed as the world’s sixth largest importer of “illegal” phosphate from the disputed territory of Western Sahara.
The Turnbull government has announced a $75 billion infrastructure project to secure the future of Arrium Mining and Minerals, which entered into voluntary administration on Thursday.
When it comes to fast food restaurants, quality of the food and convenience of location have become more important factors in the people's dining decisions according to the recent release of Consumer Reports on best and worst fast food restaurants in the United States.
Who would have thought that after all these years of McDonald's existence worldwide, there are still American adults who have not tasted their yummy selections?
Kiwis once again are saying their stern no to the Ozs.
30 Hurricane Katrina homes that were built by Brad Pitt's Make It Right charity in the Lower 9th Ward in New Orleans, Louisiana (LA) are now reportedly rotting from the inside out.
Crumbling Asian stocks was a result of the U.S. stalemate. Consequently, this has also affected the Australian market.
ZYL Limited (ZYL), an ASX-listed metallurgical coal exploration and development company, has paid a total penalty of $66,000 after the Australian Securities & Investment Commission (ASIC) served two infringement notices on the company for failing to comply with its continuous disclosure obligations. The infringement notices pertain to an ASIC investigation into ZYL announcements on the Australian Stock Exchange (ASX).
Vinnies CEO Sleepout invites all business leaders and CEO to experience how it is to be homeless on Thursday, June 20.
Droppings from Blantyre Farm's 22,000 pigs helped the enterprise be on record as Australia's first farm eligible to earn carbon credits under the Gillard government's carbon farming initiative. The hog manure is converted to methane through the commercial-scale system built by Quantum Power that the farm operator installed.
While more Australian men are shifting to careers within the lucrative resources sector, there are also a rising number of Aussie women who are venturing into Outback jobs.
After introducing in 2011 the 24/7 postal services for parcels ordered online, the Australia Post is taking its service to another level by linking farmers and consumers.
The future is still bright for Australia beef industry. According to a report released on Monday at the Beef Australia 2012 summit, the country's cattle herd is expected to reach 30 million heads this year. It would be the peak since the 1970s.
Rio Tinto and Chinalco's listed subsidiary, Chalco, have completed the formation of their joint venture (JV) to develop and operate the Simandou iron ore project in Guinea, following the completion of all Chinese regulatory approvals. As a result, a consortium led by Chalco has made an earn-in payment of US$1.35 billion, in line with an agreement reached with Rio Tinto in March 2010.
A firm and steady opening has set in the Australian stock market today and analysts are closely watching if it would break the barrier resistance of 4320, an indicator that a change in sentiment towards the positive amidst concerns of the economy's correlation to China's economic slowdown may take place.
Stocks rebounded from the biggest decline in two weeks, rising after a strong reading on weekly U.S. jobless claims. The Dow Jones Industrial Average climbed 32 points, or 0.3%, to 13032, in Thursday afternoon trading.
The Dow Jones Industrial Average pierced the 13000 level for the first time since before the financial crisis, but traded largely below the mark during a choppy session in which stocks were negative at times. The Dow broke 13,000 before noon Tuesday and a handful of other times throughout the day, but was down 17 points, or 0.1%, at 12933 in afternoon trading.
The U.S. dollar fell to a near two-week low against the euro Monday on hopes European finance ministers would agree on conditions for another loan for Greece.
Australian reaps more benefits from the ongoing resources boom despite its two-speed effect on the domestic economy.
U.S. stocks were on pace for their steepest fall of the year, as questions about the latest Greek bailout added to concerns about industrial stocks. The Dow Jones Industrial Average tumbled 111 points, or 0.9%, to 12768, in late Wednesday afternoon, after rising for five out of the past six days.
The Australian stock market on Wednesday will try to put away the lacklustre sentiments generated by the U.S. and European indices overnight with a focus on a few earnings reports due to be released today.
From MORRISON SECURITIES PTY. LTD:
U.S. stocks fell Tuesday as investors considered weaker-than-expected retail sales data and watched for progress in Europe over Greece's debt.
To increase the production capability of the Escondida copper mine in Chile, Rio Tinto has approved US$1.4 billion for two projects supporting this move.
The Australian stock market is seen heading for a slow but steady start on Tuesday with the positive global markets performance extending limited gains on commodities and other risk-related assets.
Stocks added to gains and hit session highs in afternoon trading, buoyed by the adoption of austerity measures by Greece's Parliament. The Dow Jones Industrial Average was recently ahead 82 points, or 0.6%, at 12884. The Standard & Poor's 500-stock index advanced 10 points, or 0.8%, to 1353, and the Nasdaq Composite gained 29 points, or 1%, to 2933.
Stocks were dragged down for their worst one-day loss in about six weeks by tumult over the Greek bailout, disappointing readings on the U.S. economy and a downgrade of nearly three dozen Italian banks.
The Australian stock market is perceived to maintain its current bouyant status thugging within its comfort zone range between 4,200 to 4,300 with the absence of catalysts to bring forth a major boost, analysts said.
U.S. stocks pared losses to inch higher as investors digested headlines over a Greek debt-restructuring deal that would allow the euro-zone country to avoid a default.
