Consumers to wear cost of fin reforms
COMPETITION should improve in the financial services sector as a result of government reforms, but consumers will have to help cover the cost.
Breaking News
Millions in deals sealed at coffee fair
ABOUT $US7.2 worth of deals have been sealed at the second ExpoEspeciales Cafe de Colombia, exceeding expectations.
China’s economic growth falls to 6yr low
GROWTH in China’s economy, the world’s second largest, has slowed to 6.9 per cent, a six-year low, the latest data shows.
Iran nuclear deal hits milestone
THE nuclear deal between Iran and Western states has formally taken effect, but the US says it doesn’t expect Iran to live up to its end for months.
Brambles raises $US500m in US bond market
LOGISTICS giant Brambles will use the proceeds of a US capital raising to repay existing bank debt.
Housing fears hurt consumer confidence
DETERIORATING sentiment about the housing market driven by Westpac’s decision to raise mortgage rates has softened consumer confidence.
Philippines, Chile tempt Aussie travellers
PASSENGER numbers are on the rise at Sydney Airport, aided by a lift in the number of Australians travelling to Chile and the Philippines.
Spending stagnates despite business lift
SPENDING by businesses rose sharply in September, but weakness in other parts of the economy kept overall growth subdued.
Oprah buys 10% of Weight Watchers
OPRAH Winfrey is buying about 6.4 million shares of Weight Watchers and will join its board in a deal worth almost $60 million.
CBA refunds $7.6m due to errors
CBA has failed to deliver interest rate and fees concessions promised by one of its products, and will refund affected customers a total of $7.6 million.
NZX 50 rises to 2-month high
A REBOUND in dairy prices, rising house prices and a low dollar has propelled the S&P/NZX 50 Index to its highest in more than two months
Arrium gains from output cuts, lower A$
THE struggling miner cut costs by $5 a tonne during the Sept quarter amid more stable iron ore prices.
Kogan returns to mobile with Vodafone
WEEKS after agreeing to supply a TPG-branded service, Vodafone Australia is now partnering with the returning Kogan Mobile brand.
Stocks to watch on Monday
STOCKS of interest on the Australian Securities Exchange on Monday
Medibank Private appoints new IT chief
MEDIBANK Private has created a new role as head of technology and operations, which will be filled by a former senior ANZ official.
Grocery price war to intensify: report
THE grocery price war has been tipped to increase in the next five years as Aldi and Costco expand their store count and market share.
Costco the next threat to Coles & Woolies
US retailer Costco has gained a 1.2 per cent share of the local supermarket industry within a short space of time and only with seven stores.
Qantas goes back in time with Retro Roo II
A YEAR after painting one of its Boeing 737s with its classic 1970s logo, Qantas says a second plane will carry a so-called Retro Roo.
New cards cause headaches in US
VIDEO and music streaming services, dating websites and gyms are taking a hit when customers don’t update accounts after receiving a new card.
Australian shares tipped to go higher
STRONG finishes for US and European stocks will likely bolster local gains after a sluggish few months.
Roy makes innovation policy from lemons
THE government has welcomed the idea of changing Australia’s innovation culture through lemonade stands for schoolchildren.
Oil giants pledge support for climate deal
TEN of the world’s biggest oil companies have pledged their support for the Paris climate deal.
Coles sales growth tipped to slow
SOFTER sales growth at Coles and Bunnings is expected to be revealed in a first quarter report from parent company Wesfarmers.
Westpac exec says rate hike was fair
A SENIOR Westpac executive says its mortgage rate rise was fair, even though Treasurer Scott Morrison has said the hike was twice that needed.
Toro boss Vanessa Guthrie takes pay cut
THE boss of uranium miner Toro Energy Vanessa Guthrie has taken a pay cut, receiving $564,000 in the 2015 financial year,
Santos boosted by first GLNG shipment
SANTOS shares are more than three per cent higher after the oil and gas producer announced its first shipment of LNG.
Myer to have 3,000 more staff at Xmas
MYER boss Richard Umbers wants sales staff to sell products in and exciting and engaging way, using technology to add a new sparkle.
Aussies penalised for paying credit cards
A SENATE inquiry has heard banks have failed to pass along RBA rate cuts to credit card holders partly due to customers paying off their balances promptly.
Stocks to watch on Friday
STOCKS of interest on the Australian Securities Exchange at close on Friday
NZ dollar heads for 2.2% weekly gain
AS global risks subside, the local outlook improved with the kiwi gaining against the greenback, its 30-day gain since April 2011.
Rio Tinto boosts iron ore shipments
MINING giant Rio Tinto has lifted iron ore shipments, drawing on stockpiles and its expanded Pilbara infrastructure.
Women in tech must become the “norm”
SUCCESSFUL female tech entrepreneurs say the sexism and a lack of role models in the industry are turning younger women away.
RBA flags concerns about lending standards
ALTHOUGH the banking regulator’s speed limit on investor lending is working, the RBA warns there are still risks present in the housing market.
Govt banks on innovation policy hackathon
THE government will look to Wyatt Roy’s innovation hackathon this weekend for policy ideas to drive and grow Australia’s startups and tech economy.
Commercial property prices may fall
THE Reserve Bank says there is an oversupply of office space in some cities despite relatively subdued lending for commercial property.
NZ stocks advance on yield demand
THE prospect the US Federal Reserve will keep rates at zero boosted demand for equities and saw markets across Asia climb.
Economists focused on jobs trend
FACED an unexpected fall in the seasonally adjusted estimate of employment in September, economists focused instead on a slowing, but still positive trend,
Mirarr people reject ERA’s Ranger mine
URANIUM miner ERA says Kakadu’s traditional owners have formally rejected its plans to expand the Jabiluka uranium deposit.
AOFM sells $800m of Treasury bonds
THE AOFM has sold $800 million of November 21, 2020 Treasury bonds.
The week in numbers to Oct 16
A SUMMARY of the big, really big and not so big numbers of the past week.
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.
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
Original URL: https://www.news.com.au/finance/business/breaking-news/page/200