Vittorio Hernandez

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Vittorio Hernandez completed a degree in Economics and studied Public Administration, as well as Development Communication. He has been writing business and general news for various publications for decades now. He joined IBTimes Australia in September 2011. He may be reached at v.hernandez@ibtimes.com.au.

@vitthernandez ibtimesau

Many Aussies Regret Voting PM Tony Abbott into Office

The results of surveys and opinion polls show the overwhelming disappointment of Australian voters in having placed in office Prime Minister Tony Abbott who had failed, in their eyes, to bring a clean and efficient transition of power from the previous Labor government.

Australian Stock Market Report – Afternoon August 11, 2014

In broad terms the ASX 200 was able to maintain the levels that had been established in the early part of the day, although sellers had gained an edge in mid-afternoon trade when the index retreated from 5470 back towards 5455. Buyers returned in the final half hour of trade seeing the market close at 5457.

Australian Stock Market Report – Midday August 11, 2014

Sellers regained control of the Australian share market for the first time in more than a week on Monday following a recovery for US markets at the weekend. US share markets rebounded sharply after Russia said it had concluded military exercises near the Ukrainian border. The Dow Jones index rose by 185 points or 1.1% with the S&P 500 index up by 1.2% . The ASX 200 started the session with a gain of 38 points and buyers were content for the index to maintain levels of that order for most of the ...

Global Markets Overview – August 11, 2014

The markets have just come off one there worst weeks in two years. The ASX has seen six consecutive days of losses, shedding 208 points from the high at the close of July. The Nikkei has lost 910 points in the last eight trading days, as geopolitical risk sees buyers ducking for cover.

Australian Stock Market Report – Morning August 11, 2014

In US economic data, labour costs rose at a 0.6% annual rate in the June quarter while productivity rose by 2.5%. Economists had tipped a 1.4% lift in labour costs and 1.5% rise in productivity. Wholesale inventories rose by 0.3% in June with sales up 0.2%, both short of forecasts.

Telstra Opens Financial Markets Data Centre at ASX

Telecom giant Telstra opened a data centre at the Australian Securities Exchange (ASX) that would connect financial centres. The Australian Liquidity Centre (ALC) was built mainly to make available fast and reliable connectivity to other major financial centres.

Boxing News 2014: Pacquiao-Algieri 6-City Tour Begins on Aug 25

To drum up more interest in their forthcoming Nov 22 bout in Macau, eight-division title holder Manny Pacquiao and WBO junior welterweight champion Chris Algieri will start on Aug 25 a 6-city tour. The 6 cities are in Macau and Shanghai in China, and San Francisco, Las Vegas, Los Angeles and New York in the U.S.

New York Property Bubble Close to Bursting, Says Portfolio Manager

A U.S. portfolio manager claimed New York's property bubble could pop due to a rise in demand, a great deal of foreign transactions (led by the Chinese), and a loophole in the Foreign Investment in Real Property Tax Act (FIRPTA), which imposes tax obligations on foreign investors, according to a commentary published on CNBC.

Troubles at Home Cause Alcoholism in Returning National Guardsmen

Experts from Columbia University have discovered that civilian stressors such as family breakdown, unemployment, money, and legal troubles cause National Guardsmen back from deployment to engage in alcohol abuse more than twice than their civilian counterparts, a report on Medical News Today said.

Australian Stock Market Report – Morning August 8, 2014

In US economic data, consumer credit rose by a less than expected $17.26 billion to $3.21 trillion in June. Revolving credit, which mostly measures credit-card use, increased only $941.54 million after a downwardly revised $1.74 billion in May- it was still the fourth consecutive monthly increase. US jobless claims fell by 14,000 to 289,000 last week.

Cost-Cutting Doubles Rio Tinto’s 1st Half Underlying Profit to $5.1 Billion

Mining giant Rio Tinto (ASX: RIO) reported on Thursday first half underlying profit of $5.1 billion despite falling iron ore prices by about 30 per cent. It is up 21 per cent compared to the same period in 2013. The boost in profit was the result of cost-cutting measures applied on capital projects and operating cost.

Australian Stock Market Report –Afternoon August 7, 2014

The Australian sharemarket fell for the fifth day; its longest losing streak in eight months. Weaker than expected employment figures and falls in European markets overnight were drivers. The All Ordinaries Index (XAO) fell by 0.1 per cent; however managed to close just above a key level at 5500.7.

New Regulations Unlikely to Democratise Interest-Rate Trading

A study by data provider Greenwich Associates concludes that regulators are unlikely to achieve their goal of creating a fixed-income market that is less dependent on a few massive banks. The findings were made after Greenwich interviewed 1,067 institutional investors from North America.

Australian Stock Market Report – Midday August 7, 2014

Another tough day for the Aussie markets, we saw the ASX 200 started only slightly weaker off 2pts. But by 11.25am the markets had fallen back by 14 points and just after the release of the weaker than expected July Jobs numbers the market lost more ground now down 18.6 points.

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