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.
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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.
Strong demand drives A2 share price up
SHARE prices in dividend paying stocks rose as investors return to equities, led by A2 Milk Company.
Housing market looking more balanced
A SHIFT in the balance of new and total listing of homes for sale, ather than a seasonal fall in auction clearance rates, signals a more balanced market.
Stocks to watch on Monday
STOCKS of interest on the Australian Securities Exchange on Monday
NZ dollar gains on greenback
SPECULATION over weak inflation in the US has seen the kiwi rise, with expectations it could go higher.
Australian goldminer faces Thai probe
THE Thai government has launched an investigation into an offshoot of Australian gold miner, Kingsgate Resources, centred on environmental policies.
Cash Converters hands back $23m
THE Federal Court has approved a $23m compensation payout by Cash Converters to more than 35,000 of its NSW loan customers.
Animal spirits low in borrowing and credit
AUSTRALIAN consumers and businesses are reluctant to take out loans, while punters are being savvy with their credit card use despite record transactions.
$A to slump to 68 US cents by end of 2015
DESPITE a recent rally in the Aussie, the currency is tipped to dip below 70 US cents by year’s end and stay there, an international investment bank says.
Housing prices up despite supply jump
THE supply of homes coming onto the market surged last week after time off for the footie finals, but prices still rose according to CoreLogic RP Data.
Ex-Myer CEO earned $4.25m
MYER’S ex-boss Bernie Brookes earned $4.25 million in his final year, up from $2.57m the year before while new CEO Richard Umbers earned $1.5m.
Aussies growing unhappy about super
MORE people are coming unhappy about their superannuation but are willing to see the compulsory contributions increase.
Sth Dakota tribe to open 1st pot resort
SEEING their casino, hotel and ranch profits squeezed by the Great Recession, the Santee Sioux tribe is undertaking a new venture – a marijuana resort.
Driverless car drivers take ‘back seat’
GOOGLE won’t say exactly how many drivers it employs to test its driverless cars, but they come from a variety of backgrounds.
Skydive takes the plunge in NZ
TANDEM skydive operator SkyDive The Beach is acquiring Skydive Queenstown in New Zealand and raising $19.6m through a share offer.
Genworth shares higher after CEO quits
GENWORTH CEO Ellen Comerford is leaving the mortgage insurer, but investors appear unperturbed and have pushed the company’s shares higher.
Not only savings used for home deposits
FIRST home buyers desperate to get into the property market are using credit cards and personal loans to supplement their savings for a deposit.
How first home buyers get into market
FIRST home buyers are supplementing their savings with personal loans or credit cards, as well as using the Bank of Mum and Dad.
Rio to take stake in WA gold project
MINING giant Rio Tinto will invest up to $60 million in junior miner Antipa Minerals’ Citadel gold and copper project.
Zinc soars 12%, fuelling metal surge
ZINC prices have soared 12 per cent, fuelling a surge in metals prices after Glencore cut its production.
Gold rises to seven week high
GOLD prices have hit a seven-week high as it looks like the US Federal Reserve will delay raising its interest rate.
Economists interpret RBA, housing finance
ECONOMISTS looked at the RBA’s stance on interest rates and some hard-to-interpret housing finance data this week.
Happiness related to your wallet
THOSE earning under $35,000 are the only group of Australians that say their income is negatively affecting their personal wellbeing.
NZ shares rise as Asian markets climb
THE S&P/NZX 50 Index has closed 0.2 per cent higher after A2 Milk Co raised $40 million to help fund planned growth.
Stocks to watch on Friday
STOCKS of interest on the Australian Securities Exchange at close on Friday
NZ dollar gains on the greenback
INVESTORS are revisiting their bets on when the US Federal Reserve will raise interest rates on the back of news the US economy is ready for a hike.
VW to recall 100,000 cars in Australia
VOLKSWAGEN and Audi have announced a recall plan for almost 100,000 local cars affected in its global emissions-rigging scam.
Lending rules put brakes on home investors
AS investors feel the pinch of tighter loan regulations, home loans to owner-occupiers are on the rise.
Employment growth tipped to flatten out
THE number of Australians with a job is forecast to have risen by 5,000 in September, when jobs figures are released on Thursday.
Glencore to shed Aus jobs after output cut
COMMODITIES giant Glencore will cut production at three zinc mines in Australia, as part of its global reduction in zinc output by a third.
NBN needs to talk the talk, TIO
THE number of complaints about the NBN has risen, the telecommunications ombudsman says.
Original URL: https://www.news.com.au/finance/business/breaking-news/page/199