New Rio Tinto CEO Sam Walsh is gearing up to cut costs as the world's second largest mining company has just informed that it posted a $3 billion full-year loss.
The Australian share market opened slightly lower this morning after a mixed night on overseas markets. Overnight European indices were hit by the news that growth in the Eurozone had contracted by 0.6% in the final quarter of 2012. This was not good news after a report earlier in the day showed the Japanese economy also contracted in the December quarter of 2012.
While the world ponders and debates on the real reason behind the resignation of Pope Benedict XVI, another rampage has heated up, this time a sale storm where souvenir relics of everything related to the 265th Pope must go and be sold.
By Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.
By Peter Switzer, Switzer Super ReportThe outlook for the Australian share market is still strong, even if some are already saying it's overvalued.
By Greg PeelThe Dow fell 9 points, while the S&P was flat at 1521 and the Nasdaq was also flat.The ASX 200 made 5000 look very much like "just another number" yesterday after the index surged through the psychological level.
Mining giant Rio Tinto (ASX: RIO) continues to reap the negative impact of the bad business decisions made by outgoing Chief Executive Tom Albanese, who was forced to resign over losses suffered by the company. On Thursday, Rio reported $3 billion losses for 2012.
Local stocks performed well again today, with the All Ordinaries Index (XAO) closing at its highest level since April 2011 and the ASX200 (XJO) at its best level since September 8, 2008.
Local stocks are managing to hold onto yesterday's impressive gains in the early session, despite US blue chip stocks easing overnight. The NASDAQ however closed firmer while European markets were lifted by upbeat corporate results.
Love is in the air as Valentine's Day is getting closer, it is just one day and the big craziness will start. Retailers are gearing up heavily for Valentine's Day as it means more business for them.
By Jonathan BarrattAt the moment we can see there is a lot of pulling and pushing on behalf of the market to try and work out which economy will grow the fastest and which economy will fall by the way side.
By Greg PeelThe Dow closed down 35 points, or 0.3%, while the S&P ticked up a point to 1520 as the Nasdaq gained 0.
By Olivier Blanchard, 13 February 2013Optimism is in the air, particularly in financial markets. And some cautious optimism may indeed be justified.
The local market managed to hold fast to its gains recorded at lunch, with the All Ordinaries Index (XAO) rising by 0.9 per cent or 43 pts to 5024.5. The XAO along with the ASX 200 index (XJO) both closed above the 5000.0 point mark; something which hasn't happened in years. In fact, today was the highest close for the XJO since September 2008.
Singapore, a land area of approximately 710 square kilometers, is one of the easiest places to do business in the world and it is the better business destination. So there is no surprise that Singapore has been ranked as one of the best places to do business in many rankings. Certainly, the small area of the country does not have a negative impact on its economic status whatsoever. Moreover, Singapore it is Asia's startup hub.
As singer-songwriter, Aimee Mann, poetically observes, 'The moth [will] beat his wings 'til he burns them black'.
On the 11th of February, Hakon Invest AB informed that Royal Ahold NV had decided to get rid of its 60 percent stake in ICA for as much as 21.2 billion Swedish crowns, or slightly over $3 billion.
The Australian sharemarket is having its best day in a fortnight, with the ASX 200 Index up 0.9 per cent or 44.8 pts to 5003.8. This is the first time the evasive 5000.0 mark has been breached by the index since April 2010. The local market is now up 7.6 per cent since the start of this calendar year. Global markets ended mostly higher overnight, with both the French and British markets the standouts after rising by close to 1 per cent.
By Marco Annunziata, Chief Economist and Executive Director of Global Market Insight, General Electric Co.
By Greg PeelThe Dow rose 46 points, or 0.3% to 14,018, while the S&P was up 0.2% to 1519, but the Nasdaq fell 0.
The analyst principally responsible for the production of this research report is: Howard Humphreys, Director & Lead Research Analyst, Seismic ResearchASX breaks through 5,000 as CBA, LEI beat estimatesThe ASX 200 surged 0.
Day 2 of the year of the year of the snake. With most regional indices offline to celebrate the Lunar New Year activity was stilted for much of the day, although volumes improved over the course of the afternoon.
Not so long time ago (relatively), a phrase "The King is dead, long live the King" was commonly used. And even these days, it can be used in case of China. According to comparative data, China overtook the United States and gained the title of the world's largest trading nation in 2012, taking into account imports and exports.
Renault witnessed an increase in the sale of its Sports Utility Vehicle, Duster, in India as middle class families lifted sales by approximately 60 percent. The company may glory in its Duster SUV which bagged the Indian Car of the Year award.
The Australian share market is slightly firmer at lunchtime in the East, despite falls on European and US markets overnight as investors booked profits in the absence of market moving economic, political or corporate news.
By Andrew NelsonLeasing and financing services specialist Flexigroup ((FXL)) put out yet another positive financial report last week and brokers did what they tend to do; they applauded the report, maintained their Buy calls and lifted their forecasts.
By Andrew NelsonIt was a pretty busy week in the uranium market last week news-wise, although actual market activity was far less interesting.
By Greg PeelThe Dow fell 21 points, or 0.2%, while the S&P was basically flat at 1517 and the Nasdaq was similarly little changed.
By Greg PeelThe Dow fell 21 points, or 0.2%, while the S&P was basically flat at 1517 and the Nasdaq was similarly little changed.
By Greg PeelThe Dow fell 21 points, or 0.2%, while the S&P was basically flat at 1517 and the Nasdaq was similarly little changed.