Fortescue in no rush to sell assets
FORTESCUE Metals says the iron ore miner is in no hurry to sell assets as it finds breathing space with deep cost cuts and debt reductions.
Breaking News
US govts won’t pursue $92m from Exxon
DUCKS and otters that appeared vulnerable to lingering oil from the 1989 Exxon Valdez oil spill have recovered to pre-spill population levels.
Australian Twitter staffers face the axe
A SENIOR executive at Twitter Australia has been made redundant as the company cuts staff around the world.
$12bn Asciano takeover held up by the ACCC
THE ACCC will take another two months to assess the impact of what would be the biggest logistics deal in Australian corporate history.
Employment dips but jobless rate steady
DESPITE disappointing new jobs numbers, economists say the labour market has stabilised, and don’t expect it to alter the RBA’s rates stance.
Woodside’s quarterly revenue almost halves
WOODSIDE Petroleum’s third quarter sales revenue has almost halved as the energy giant declined to address speculation of an increased Oil Search bid.
NZ dollar extends gain over greenback
UNCERTAINTY over the timing of US interest rate hikes have seen the kiwi rise against the greenback and the Aussie dollar.
Back-to-back buybacks for CSL
BLOOD products and flu vaccines supplier CSL will buy back up to $1 billion of its shares over the next 12 months.
Investors warm to IAG halting China plans
IAG’S share price jumped after the insurer decided to dump plans to increase its presence in China.
Coal prices to stay weak, says Whitehaven
WHITEHAVEN Coal has lifted production and sales, but sees no short term recovery in prices ahead due to oversupply and lower Chinese demand.
Power companies, Trade Me lift NZ stocks
INVESTOR interest in power companies, auction website Trade Me and Auckland Airport have helped lift the NZX benchmark index nearly 1 per cent.
Companies returning billions to investors
CSL’S $1 billion share buyback is the latest in the long line of efforts by major corporations to return value to shareholders in 2015.
Education provider in voluntary suspension
AUSTRALIAN Careers Network has put its shares in voluntary suspension following non-compliance issues raised by an industry regulator.
Slow jobs trend good news for productivity
THE trend in employment growth in September was barely half the pace recorded early this year, ABS data show. That implies better produtivity growth.
New vehicle sales hit 100,000 in Sept
SALES of new motor vehicles in Australia rose 5.5 per cent in September, to 100.372, official figures show.
Stocks to watch on Thursday
STOCKS of interest on the Australian Securities Exchange at noon on Thursday
1st US offshore wind farm stirs excitement
THE US’ first major offshore wind farm project, off Rhode Island, has stirred excitement and the hope for future possibilities.
Aust first home buyers face long haul
BANKWEST says it will take a Sydney couple nearly eight years to accumulate the $200,000 needed for a 20 per cent deposit on a median-priced house.
$A falls on employment figures
THE Australian dollar is a third of a US cent lower after new data showed the number of people with jobs unexpectedly fell in September.
More Kiwi firms may be lured to ASX
A PUSH by Australia’s stock exchange to get NZ companies to list is reaping rewards with 41 now featuring on the ASX.
nib buys ANZ medical insurance book
HEALTH insurer nib is buying the New Zealand medical insurance book of ANZ’s OnePath Life in a $22.6 million deal.
Brambles revenue declines 2% on US dollar
BRAMBLES has reported first quarter sales revenue of $US1.32 billion ($A1.81 billion), a two per cent fall in real terms.
Iluka lifts Sept quarter revenue
MINERAL sands products producer Iluka has reported a solid jump in quarterly revenues, helped by higher volumes and a lower Australian dollar.
NAB poised for life insurance deal
NAB is in talks with Japan’s biggest life insurer, Nippon Life, about a potential deal involving its life insurance business.
BHP raises billions for debt refinancing
BHP Billiton has issued billions of dollars worth of hybrid securities as part of a major refinancing of its debt.
Murdoch victorious at quiet AGM
RUPERT Murdoch says News Corp’s Australian and UK newspapers face challenges in advertising markets.
Joyce says lessons to be learnt from MH17
THE MH17 disaster shows more needs to be done to provide all airlines with the best security information about flight paths, Qantas says.
Roy Hill flags slight shipment delays
ROY Hill has foreshadowed further delays to its first shipment of iron ore from its massive $10 billion Pilbara iron ore project.
Domino’s says ‘oui’ to French expansion
AUSTRALIAN fast food chain Domino’s is carving up more of France, the land of fine food, after acquiring 89 pizza stores in the country’s west.
The Reject Shop sales track higher
THE Reject Shop its comparable sales are substantially higher in the first quarter of 2015/16 than the same time a year ago.
Home loan rates on the rise at Westpac
ON the same day Westpac announced an $8b annual profit and raised shareholder dividends, it hiked mortgage rates by 0.20 percentage points.
Stocks to watch on Wednesday
STOCKS of interest on the Australian Securities Exchange at noon on Wednesday
Treasury Wine buys Diageo wines for $600m
TWE chief executive Michael Clarke says the Diageo wines acquisition is a game-changer for TWE in the US market
Treasury to push US wine brands
TREASURY Wine Estates says it can grow sales of US wine brands in Canada, Asia and Latin America.
NZ shares gain as investors hunt bargains
FISHER & Paykel has led the benchmark S&P/NZX 50 Index higher as bargain hunters sought oversold stocks.
WA’s financial health hit by commodities
WESTERN Australia’s financial health has taken a turn for the worse as the resources state suffers from a multi-billion dollar revenue hit.
Kiwi at four-month high against Aussie
WESTPAC’S plans to lift its Australian mortgage rates have sparked speculation that the RBA may cut rates and that’s lifted the kiwi against the Aussie.
Westpac hike ‘seals RBA rate cut’
MACQUARIE Bank expects the RBA to cut its cash rate to a fresh record low in November to offset the impact of Westpac’s mortgage rate hike.
Qantas wants Turnbull to drive IR reform
THE CEO of Qantas has welcomed Malcolm Turnbull’s focus on economic reform, and says the tax and IR systems are in need of urgent changes.
Gina wins High Court battle agains Rio
BILLIONAIRE Gina Rinehart has notched up a win in the High Court against mining giant Rio Tinto over millions in royalties to be paid from two WA mines
CBA yet to decide on rate rise
THE Commonwealth Bank is weighing up whether to lift interest rates after Westpac moved to hike its rates for owner occupiers.
Toro shares jump on improved resources
TORO Energy shares jump almost seven per cent as bullish investors charge for the uranium miner after it increased its resource estimate by 20 per cent
NAB says home loan rates under review
NAB is reviewing its home loan rates after Westpac announced plans to lift its standard variable rates for owner occupiers in November.
Consumer confidence rises in Oct
CONSUMER confidence rose in October boosted be a solid jobs market as well as the change of prime minister.
Spain sees tourism as economy boost
SPAIN wants to boost its shopping tourism sector in a bid to lift its economy and create jobs, with El Corte Ingles CEO urging a focus on Chinese visitors.
iSelect confirms PEP as suitor
COMPARISON website iSelect has confirmed Providence Equity Partners as the takeover suitor.
Copper slips on China economy worries
COPPER prices are lower after some disappointing Chinese trade data raised doubts about the strength of its economy.
Wages rising in IT & construction sectors
THE IT, construction and engineering industries are experiencing high demand and wages growth, a national salary survey shows.
Telstra faces $80m hit to earnings
TELSTRA is considering an appeal against the ACCC’s order to cut prices for other telcos to access its copper wire network.
RBA Lowe warns against economic pessimism
RBA deputy governor Philip Lowe says monetary policy can only do so much, calling for more help in driving growth in the economy.
Exports to China to soar despite downturn
ANZ researchers predict China’s booming middle class will be the next source of economic prosperity for Australian businesses.
Ausdrill rigs walk on lakes to find gold
TROUBLED mining services group Ausdrill has developed technology to send custom-made drill rigs onto salt lakes and muddy surfaces to drill for gold
Education business deregistered
THE regulator of vocational education has told Victoria’s Phoenix Institute its registration will be cancelled following student complaints.
Short sellers target Fortescue after gains
SHORT sellers return to Fortescue after the company’s stock posted significant gains over the past fortnight following speculation of asset sales
Stocks to watch on Tuesday
STOCKS of interest on the Australian Securities Exchange at noon on Tuesday
ERA’s Sept quarter production falls
RIO Tinto-owned uranium miner Energy Resources of Australia says its production continues to come from existing stockpiles.
iSelect to decide on takeover in few weeks
THE insurance comparison business has received a takeover proposal from a private equity firm, and is providing access to information for due diligence.
Larger stocks buoy NZ sharemarket
THE S&P/NZX 50 Index has closed 0.2 per cent higher, although 15 rising stocks were outnumbered by 26 fallers.
Turnbull effect boosts business confidence
A CHANGE in prime minister has given business and consumer confidence a boost, but economists warn it may not last.
Experts calm property crash fears
SEVERAL economists say the housing market will remain under control despite signs price growth has well and truly peaked.
NZ dollar falls on weaker Chinese imports
FIGURES from China show a bigger-than-expected drop in imports in September, leading to a fall in the currencies of New Zealand and Australia.
Connected things outnumber people
BY 2030 it is expected that as many as 50 billion devices will be connected to the internet.
Book up lenders exploit communities: ASIC
SOME unscrupulous informal lenders in indigenous communities are gaining access to borrowers’ accounts by keeping their debit cards and PINs.
Pyne receives innovation ideas from sector
THE innovation minister is being urged to make tax changes to help the local startups and tech sector.
Best money mindset to stop overspending
RESEARCH has found that the best way to stop that needless overspending is to be grateful for what you already have, not to clamp down on desire emotions.
RBA welcomes house price growth slowdown
RBA deputy governor Philip Lowe says regulatory measures and increasing housing supply are slowing the rate of residential property price growth.
Airbnb to fix sneaky fees after ACCC probe
TRAVEL and accommodation booking sites Airbnb and eDreams have been forced to update their pricing policy after an ACCC probe into drip pricing.
Telstra ready for metadata retention
TELSTRA says it may be the only telco ready to retain metadata under new government laws.
AOFM sells $150m of indexed Treasury bonds
THE AOFM has sold $150 million of August 20, 2020 indexed Treasury bonds.
RBA confident economy will stay strong
RESERVE Bank deputy governor Philip Lowe says he is confident the Aust economy will remain strong and adapt to a changing world.
Consumer confidence surges to 15-week high
THE ANZ/Roy Morgan weekly consumer confidence index rose 5.1 per cent last week, hitting a 15-week high.
Mobile Embrace doubles quarterly revenue
THE mobile payments and marketing company has posted its best ever quarterly performance in the three months to September.
Gold hits three month high
GOLD prices have hit a three month high as traders bet that the US Federal Reserve will delay raising its interest rate.
Copper gains following production cuts
COPPER prices are higher after cuts in production by mining giant Glencore dealt a blow to the supply of the metal.
Dell buys data storage firm EMC for $91bn
MICHAEL Dell will serve as chairman and CEO of the combined business formed when Dell takes over data storage company EMC in a $91 billion deal.
Glencore moves to sell Aust copper mine
TROUBLED mining giant Glencore is moving to sell copper mines in Australia and Chile as it attempts to reduce its $US29b debt pile.
Santos to shed another 200 jobs
SANTOS will axe another 200 jobs in an attempt to save $100 million over three years while it battles sliding oil prices.
Demand for VW wanes amid scandal
DEMAND for petrol and diesel Volkswagens have dropped off since revelations the auto giant has admitted to the existence of an emissions-cheating software.
Taxi groups mad as ACCC plans to block app
THE taxi industry is in uproar over the ACCC’s plans to block the introduction of a booking app that challenge ride sharing service Uber.
Transurban US assets gaining traction
TRANSURBAN’S express lanes on toll roads around Washington DC have generated a big lift in toll revenue and average daily traffic.
Original URL: https://www.news.com.au/finance/business/breaking-news/page/198