Alan Joyce, chief executive officer of labour beleaguered Qantas Airways Ltd., has decided not to accept his bonus and pay rise for this year, in what could be a fitting gesture in light of the continuing massive fiscal crisis affecting both local and international companies.
Oil major Chevron Corp on Monday announced it had reached a $450 million agreement with Royal Dutch Shell PLC to exchange its assets in the Browse development for stakes in the Clio and Acme fields in the Carnarvon Basin.
U.S. STOCK MARKETSU.S. stocks took a pause Monday, with the Dow industrials ticking down for the first in three sessions, as telecommunications and consumer-discretionary shares fell. The Dow Jones Industrial Average gave up 3.56 points, or less than 0.1%, to 13271.64.The blue-chip benchmark had capped its sixth-straight weekly advance on Friday, putting it within striking distance of multi-year highs.
Coalition leader Tony Abbott suffered a double whammy in two successive days. On Monday, he was ejected by Parliament during a heated Question Time and the next day reports said support for Labor continued to rise despite the introduction of the carbon tax in July.
Bell FX Currency Outlook: The Australian Dollar had a very quiet night with markets noticing the effect of the traditional summer holiday periods in the Northern
Hemisphere.
Pipeline Consortium APA Group could most likely win the takeover battle over Hastings Diversified Utilities Fund (HDF) after rival bidder Pipeline Partners Australia (PPA) announced on Monday it no longer plans to match APA's raised bid.
Australia may find it hard to meet the demands of the ‘Asian Century’, this was hinted Monday by former Treasury Secretary Ken Henry in a speech before the Australian Industry Group held in Canberra.
Poor prices of coal in the world market spurred by a continuing weak demand from the Asian market had prompted China-backed Yancoal Australia to suspend its expansion plans in all its seven mines in Australia.
Gu Kailai, wife of former Politburo top contender Bo Xilai, was given a suspended death sentence on Monday, concluding a brief but high-profile murder trial that China watchers said was both a political and criminal proceeding.
New Zealand suffered its first female combat kill in Afghanistan on Sunday following an attack on Humvee army convoy that was on its way back to a forward base manned by Kiwi troops in the Afghan province of Bamyan, reports said.
BlueScope Steel Ltd's financial performance for the 12 months to June 30 has improved, albeit marginally, after posting a full year net loss of $1.044 billion, up by one per cent than the $1.054 billion a year ago.
Stocks inched forward Friday to cap their sixth straight weekly gain, finishing a hair short of multiyear highs. The Dow Jones Industrial Average added 25.09 points, or 0.2%, to 13275.20, about four points shy of its mark on May 1, when it set a more-than-four-year high.
Australia: The AUD has been the beneficiary of global central bank and institutional buying in recent weeks. This has been due partly to Australia's relatively higher interest rates and yields on Commonwealth and state government bonds as compared to other developed economies.
The latest Treasury’s admission that Australian surplus cannot be supported by current levels of federal revenues only proved that the May budget presented by Treasurer Wayne Swan was grossly unrealistic, the Coalition said.
Cost cuts and a business expansion in Asia have proven to be an effective business strategy for the Australia and New Zealand Banking Group as third-quarter profit jumped 10 per cent from a year ago.
South Australia has a new underground copper and gold mine, as Oz Minerals launched on Friday its latest project development at Prominent Hill.
For every cause, there will always be a corresponding, resulting effect.With prices of commodity on the downhill, coupled with growing operating costs, Queensland miners may be forced to slash jobs if only to be able to comply to a proposal to increase mining royalties in the Australian state.
Shares of Molycorp Inc. dropped to a year low on Thursday after the cash-strapped rare earths miner announced on the same day plans of selling a combination of stock and debt in order to raise as much as $517.5 million to help fund operations at its California mine.
Technology stocks helped drive the biggest advance for the Dow in almost two weeks after investors took comfort in German Chancellor Angela Merkel's stated commitment to hold together the euro zone. The Dow Jones Industrial Average rose 85.33 points, or 0.7%, to 13250.11, and the Standard & Poor's 500-stock index added 9.98 points, or 0.7%, to 1415.51.
Bell FX Currency Outlook: The Australian Dollar moved modestly higher overnight as comments from German Chancellor Angela Merkel lifted sentiment in another quiet session.
The trial production of the $US8-billion iron ore project of China's CITIC Pacific Ltd in Western Australia has again been moved to November, delayed three months later than last announced.
Opposition Leader Tony Abbott has assailed federal authorities for lack of strong resolve in handling serious border protection affairs in light of reports that the crew of a cargo ship that rescued asylum seekers off the Indonesian waters were intimidated by some of the refugees.
Saddled by the continued deterioration of the global market, coupled with a slowing appetite from its major market importer, BHP Billiton has warned it would need to undertake more job cuts at its Australian operations.
Foreign direct investment (FDI) in China for the month of July has narrowed down by 8.7 per cent compared to a year ago, latest data released by the Commerce Ministry on Thursday showed, affirming what could really be a slow economic rebound for the Asian country.
The World Health Organisation (WHO) hailed on Thursday what it termed as a ‘landmark’ decision handed down by the Australian High Court yesterday, which affirmed efforts by the federal government to force tobacco firms to sell their products on drab and plain packaging.
Barrick Gold, after partially floating African Barrick in 2010, has been reported to be mulling further divesting its 74 per cent hold in the African project, the Financial Times reported on Thursday.
A looming rice supply shortage could occur in the next few months as the poor monsoon and low rainfall in India, the world's second-biggest grower, hampers the nation's rice output, the International Food Policy Research Institute (IFPRI) said.
Bell FX Currency Outlook: The Australian Dollar is slightly higher this morning, currently trading just below USD1.0500 despite some mixed data released during the offshore session overnight.
U.S. stocks finished the day roughly flat as investors juggled an unexpected contraction in domestic manufacturing activity and a mixed batch of corporate earnings. The Dow Jones Industrial Average lost 7.36 points, or 0.1%, to 13164.78. The Standard & Poor's 500-stock index gained 1.60 points, or 0.1%, to 1405.53 and the Nasdaq Composite rose 13.95 points, or 0.5%, to 3030.93.
No less than the United States’ Export-Import Bank (USEXIM) is interested to help Australia’s richest woman fund her company’s Roy Hill project.
