In spite the persisting low consumer demand, Australian companies have recorded a 6.7 percent growth on their gross profits, according to the seasonally adjusted data from the Australian Bureau of Statistics.
James Murdoch declined a bonus amounting to almost $US6 million ($5.63 million) because of the phone hacking scandal at the defunct UK newspaper News of the World. He was supposed to get a payout of $US17.9 million, inclusive of the $US6 million bonus and $US8.3 million in stock awards. James' bonus was set to increase his compensation package by 74 per cent. Without the bonus, his remuneration will rise 16 per cent to $US11.9 million.
Australia's employers have opted to advertise online rather than on newspapers, according to the latest survey conducted by ANZ Bank, which showed a a monthly and annual decline indicative of a persistent sluggish economic growth.
Passengers of Jetstar who flew with a dead Kiwi male on board the trip from Singapore to Auckland were offered by the air carrier $100 as compensation. The offer was in the form of travel vouchers.
A welcome lift in new orders and sales took the services sector into positive territory in August according to the latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI®). The seasonally adjusted index rose 3.3 points to 52.1 in the month (readings above 50 indicate an expansion in activity).
After three months of decline, Australian consumers went out to dine and shop in July providing a boost to the country's retail and services industries.
US-based global food company Heinz has reported a 6% decrease in net income to US$226.1m for the three months to 27 July 2011.
Leading oil refiner Caltex Australia Ltd.'s marketing outlook remains positive in the second half after marketing delivered strong results in the first half with total fuel volumes up 4.3 percent year-on-year.
Qantas has attempted to quash market rumours it is about to become the target of a $3.5 billion private-equity bid, describing the reports as "pure speculation".
Despite its falling stock price, national carrier Qantas Airways posted Wednesday a full-year net income of $250 million, and executives said it is a natural target for acquisition.
Virgin Australia’s long-haul pilots and long haul cabin crew have voted yes to their respective enterprise bargaining agreements (EBAs).
Facing the spectre of labour unrests and leadership shakeup from roll-over crises last week, national carrier Qantas Airways won a much-needed reprieve on Monday as Australia’s competition watchdog provisionally approved the company’s proposed alliance with American Airlines.
Online nominations have now closed for the Australian HR Awards and intensive research is currently underway to determine the finalists.
Firstfolio has seen revenues surge on the back of its acquisition strategy, and plans to continue to seek out acquisition targets.
Retail deposit growth has driven a stronger funding position for ANZ, the bank has stated.
Business sales figures across Australia posted disappointing numbers in July, according to a survey done by Commonwealth Bank on 200,000 merchant facilities.
MARKET CLOSE
(4.30pm AEST)The Australian sharemarket lost ground for the second time this week, with the ASX 200 index (XJO) falling 1.2 pts or 52.7 pts to 4251.2 while the broader All Ordinaries index (XAO) dropped 1.2 pct or 52.4 pts to 4319.4. This takes the falls for August so far to 4 pct.
A strong product pipeline and continuing Asian growth have delivered Blackmores (ASX: BKL) its ninth consecutive year of record sales and profits despite Australian retail's problems.
Australian coal-to-retail conglomerate Wesfarmers reported a net profit after tax of $1.9 billion for the full-year ended 30 June 2011, an increase of 22.8 percent on the previous corresponding period despite tough retail conditions.
Qantas's CEO Alan Joyce has slammed the claims of unions about the airline's new international strategy that were announced on Tuesday.
Hundreds of new jobs will be created with the planned expansion of CSL's manufacturing facility in Victoria, Australia.
MARKET CLOSE
(4.30pm AEST)The Australian sharemarket pulled back in the second half of trade to wipe out a portion of yesterday's stellar gains. The ASX 200 index (XJO) fell 0.8 pct or 35.6 pts to 4247.3 while the broader All Ordinaries index (XAO) dropped 0.7 pct or 29.5 pts to 4317.3.
Australia’s flagship airline Qantas has announced wholesale changes that will see the loss of 1000 jobs as it cuts international routes, retires four Boeing 747s and delays the delivery of six Airbus A380 superjumbos by up to six years.
After announcing an expansion into Asia, Qantas Airways will be facing a government investigation over job losses at home.
MARKET CLOSE
(4.30pm AEST)The ASX 200 index (XJO) rose 2.6 pct or 110.3 pts to 4282.9 while the broader All Ordinaries index (XAO) is up 2.6 pct or 108.9 pts to 4346.8. All sectors managed to post solid gains today, with the energy and mining sectors leading the way.
EFTPOS Payments Australia Limited (ePAL), the company that manages one of Australia’s largest popular debit system, reiterated that its new interchange fees will not be passed directly on to the consumer or retailers.
Australia's manufacturing firm Manassen Foods has been reported negotiating a deal with China's second largest food company Bright Food Group Co.
Australia's securities watchdog released on Friday a new guidance that demands more disclosure on some investment instruments that lures a lot of investors because of the promise of high returns.
GS1 Recallnet, a new national product recall service to remove potentially harmful grocery, food, liquor and other products from the supply chain, was launched Australia-wide August 10, 2011.
Suddenly the same analysts and 'experts' who have been negative on Telstra, are fans after the company reported a smaller than expected fall in earnings for the year to June 30; a result that included rising revenues and profits from mobile phones and telecoms.
