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.
Breaking News
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.
Iamgold to cut 10pct of Suriname workers
SURINAME’S commodoties-based economy has taken another hit with Canada’s Iamgold to cut 10 per cent of its workforce after Alcoa’s planned closure.
Extra 6000 VW cars identified
VOLKSWAGEN Australia says its found an extra 6000 cars sold in the local market that are fitted with pollution-masking software.
The week in numbers to Oct 9
A SUMMARY of the big, really big and not so big numbers of the past week.
CSL appoints new CFO
DAVID Lamont, who is currently CFO at Australian-Chinese miner MMG Ltd, takes up his new role on January 2, 2016.
Macquarie shares soar
INVESTMENT bank Macquarie Group enjoyed strong demand for a capital raising launched to help fund a massive car financing business acquisition.
Internet bills may drop after ACCC ruling
BROADBAND prices may soon fall after the ACCC ordered Telstra cut the price it charges other telcos to access its network by 9.4 per cent.
Caltex chairman to step down in Dec
CURRENT chairman Elizabeth Bryan will step down in December and will be replaced by Greig Gailey.
Bernanke defends Fed actions on GFC
THEN Federal Reserve chairman Ben Bernanke speaks of his reaction to Lehman’s collapse and the central bank’s actions in the face of the GFC.
AOFM sells $800m of Treasury bonds
THE AOFM has sold $800 million of October 21, 2018 Treasury bonds.
Top-end UK property buyers seek extras
AN increasing number of top-end property buyers in the UK are asking for sport and leisure facilities when they consider purchasing.
Telstra appoints three new group execs
TELSTRA’S new chief executive has announced new heads for retail, marketing and international businesses.
A2 Milk raises $NZ40 in share placement
A2 Milk sold 58.8 million shares at 68 NZ cents apiece in an over-subscribed placement that raised a total $NZ40 million.
NZME to detail restructuring next week
MORE will be known about redundancies at NZME next week as it moves to an integrated newsroom.
AFT Pharmaceuticals plans dual listing
AFT Pharmaceuticals, which Harley Atkinson started up in his garage after being made redundant, plans to list on the NZX and ASX.
Property investors look to Brisbane
MANY property investors are looking to Brisbane as Sydney – Australia’s most expensive capital city housing market – loses its lustre.
Copper slips on China demand worries
COPPER prices fell, as concerns about slowing demand from China, which accounts for nearly half of the world’s copper consumption.
Gold falls after US Fed minutes
GOLD after the US Federal Reserve minutes showed policymakers were unsettled by signs of a global economic slowdown.
NZ honey producers seek trade protection
THE producers of NZ manuka honey are seeking international trademark protection of the product to stop fakes hitting the market.
BoQ hopes to benefit from Qld house prices
AFTER announcing a record profit, Bank of Queensland hopes to benefit as people head north in search of more bang for their housing buck.
Finance News Update, what you need to know
FINANCE News Update, what you need to know.
German exports down 5.2% in August
GERMANY’S exports dropped 5.2 per cent in August, official figures show.
Geeks to help set govt innovation policy
THE Turnbull government will throw policymaking over to the public to gain ideas on how to help startups and innovation flourish in Australia.
Bluescope cuts 500 NSW jobs
BLUESCOPE will cut 500 jobs at Port Kembla, freeze pay for three years and suspend a bonus scheme as part of cost savings plans.
Stocks to watch on Thursday
STOCKS of interest on the Australian Securities Exchange on Thursday
Ansell’s year off to a weaker start
CHALLENGING conditions in north America and Europe, and the impact of China’s slowdown, are impacting sales for Ansell.
Dual-listed stocks lead NZ market lower
THE S&P/NZX 50 Index has closed 0.4 per cent lower with dual-listed stocks falling as the kiwi climbed against the Aussie dollar.
NZ dollar slips back below 66 US cents
THE kiwi dollar is almost unchanged over 24 hours after rising to a recent high above 66 US cents in early local tradiing.
Asciano to develop new freight terminal
ASCIANO is investing $100 million on a new intermodal freight terminal in western Sydney, to move freight from road to rail.
Uranium miner’s shares soar
URANIUM miner ERA says it does not know why its share price has gained more than 20 per cent on Thursday.
$A may be low enough to cut unemployment
THE real value of $A is still above its average for the decades before the commodity price boom, but could still be low enough to cut unemployment
Original URL: https://www.news.com.au/finance/business/breaking-news/page/200