COMPANIES

Global Markets Overview - 02/07/2012

U.S. stocks drifted lower as the recent rally paused, with investors shifting focus to wrangling in Greece over fiscal austerity. The Dow Jones Industrial Average eased 38 points, or 0.3%, to 12824 as the last hour of trading approached. The Standard & Poor's 500-stock index lost 2.7 points, or 0.2%, to 1342, and the Nasdaq Composite declined 7.8 points, or 0.3%, to 2898.

Another 400 Jobs Lost as Westpac Moves Tasks to India

Job security in bank posts continue to be placed on the line as Westpac announced the axing of up to 400 positions. Most of those who would be laid off are engaged in back office and IT roles, of which 150 would be outsourced to India.
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Australian Stock Market Leads - 6 February 2012

The optimism generated by the better-than-expected US jobs is seen to redound to the stock market.Analysts are bullish that Monday's trading will record some gains benefitting from the major averages posted by the Dow Jones Industrial Average, up 1.2% to close at 12862; the S&P climbed 1.5% at 1345; and the NASDAQ advanced 1.6% to end at 2906.

Product of the Year 2012 Announced for Top Australian Supermarket Products

One of Australia's leading consumer product surveys, Product of the Year, today released its third annual survey results for innovative new products in the Australian supermarket retail industry. Product of the Year was established 25 years ago in France and currently operates in 28 countries worldwide.

Global Markets Overview - 02/06/2012

Stocks rose Friday after the U.S. economy added more jobs than expected last month, driving the Nasdaq Composite to an 11-year high and pushing the Dow to its highest close in nearly four years. The earnings parade continues this week, with the latest results due from a handful of companies in the Dow Jones Industrial Average and from media giants and tobacco companies. In addition, seven companies across a range of industries are expected to go public this week, coming off a week that has seen ...

French Court Fines Google for Free Maps

A French commercial court upheld an unfair competition complaint against search giant Google Inc. and has ordered it to pay a fine and damages to a French mapping company.

Xstrata, Glencore Lock on Talks for $80 B Merger

Xstrata, one of the biggest mining operators in Australia, is reportedly negotiating with giant commodities trading firm Glencore for a likely blockbuster merger that analysts said could easily reach $US79 billion.

Qantas, Jetstar to Hike Fares

After encountering turbulence in 2011 due to a prolonged labor dispute with three labor unions, flag carrier Qantas Airways is set to soar in 2012.

Australian Stock Market Leads - 03/02/2012

The Australian stock market is off to a slow start on Friday with commodity-related stocks led by Lynas Corp (ASX: LYC), Aquarius Platinum Ltd (ASX: AQP), Atlas Iron Ltd (ASX:AGO) hitting some gains as of 10:00 AM (AEST).

Coles Sales for December Quarter Hits $9.4 Billion

The battle between retail giants Coles and Woolworths went up a higher level beyond grocery aisles into company books. On Thursday, Coles reported a 6.7 per cent hike in its December quarter sales which hit $9.4 billion.

iPhone Topped Android in Holiday Sales

Apple's iPhone could extend its holiday cheer as recent figures show that it was the highest selling smartphone in the market for the last holiday season.

Foxconn Hiring Spree: iPhone 5 Production Looms?

Consumer electronics company Foxconn wished to double the size of its manpower in its branch in Zhengzhou, China. Is the hiring spree due to the launching of the iPhone 5?

Melbourne Bus Company Gives $15 Million Bonus After Business Sale

For some, it’s like winning the lottery. Workers at Melbourne-based Grenda bus company were surprised to receive bonuses reaching up to $30,000 after the company owners sold off its transit operations and allocated $15 million to its loyal staff.

Global Markets Overview - 2 February 2012

FROM MORRISON SECURITIES PTY. LTDU.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.

Air New Zealand Boss Rob Fyfe Denies Virgin Group Offer

"It's all speculation." Air New Zealand boss Rob Fyfe told of the rumors about his career movement. As he is expected to step down late this year, Fyfe has been reported to have been recruited for a job at Sir Richard Branson's Virgin Group.

Cattle Export Ban to Indonesia Fails to Dampen AAco Revenue

The temporary ban on cattle export to Indonesia failed to dampen the growth of the Australian Agricultural Company (AAco) which even registered a 40 per cent improvement performance that led into a $10.5 million net profit.

Moody’s Downgrades Qantas Credit Rating

Australian flag carrier Qantas was dealt another blow on Tuesday when rating agency Moody's Investors Service downgraded the air carrier's credit rating to Baa3 from Baa2. Moody's explained the cut in long-term senior unsecured rating of Qantas to expectations of ongoing pressure on the company's credit profile.

Coles, Woolies Price War Leads MPs to Seek Overhaul of Australia’s Competition Law

The ongoing price war between Australian supermarket giants Coles and Woolworths has led some MPs to seek a major amendment to the country's competition law. The legislators warned that the short-term benefits shoppers get from a 50 per cent price reduction on fruits and vegetables sold by Coles could mean disaster for the agriculture sector.

Gina Rinehart Seeking Stake in Fairfax

Australia's interest in Gina Rinehart, the nation's richest woman, continues to be fueled following her soon-to-be-completed acquisition of shares in Fairfax Media. Ms Rinehart, whose personal wealth is valued at $10.3 billion, wants a biiger piece in Australia's most influential media company.

Samsung Confirms Galaxy S Advanced Specs and Images

While the rest of the tech world is buzzing about the rumored Galaxy S III model that is reportedly being revealed at next month's Mobile World Congress, Samsung went ahead and revealed a new model of the Galaxy S called the Galaxy S Advance.

Happy Hours – Starbucks Expands Wine & Beer Sales

Starbucks Corp., the world's biggest coffee-shop chain, which proved the world that there's nothing as paying too much for a cup of coffee, is planning to experiment with wine and beer, the two elixirs that Americans love.

Australian Stock Market Leads - 1 February 2012

Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.

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