Treasury Wine outlines fresh cost cuts
THE winemaker behind Penfolds, Treasury Wine Estates, will cut costs from its supply chain by divesting infrastructure and consolidating vineyards.
Breaking News
Auckland house prices rise to record
A REAL estate firm says Auckland house prices may have surged because of buyers getting in ahead of new regulations to cool the market.
Consumer confidence slides again
CONSUMER confidence has continued to slide, with a weekly index giving back almost half of the record bounce made after the change in prime minister.
Orion shares jump 9% after US contract
ORION Health says it is in a syndicate that will provide off-the-shelf electronic health record software for the US Department of Defense.
Veda backs $2.5b takeover offer
US credit information provider Equifax appears to have won over local rival Veda with an increased $2.5 billion takeover offer.
Firms downbeat on economy: NZIER survey
ALTHOUGH business confidence fell in the NZIER’s latest quarterly survey, firms were more upbeat about their own trading.
Copper fumps 1.5 per cent
COPPER prices jump as expectations of a Federal Reserve interest rate rise diminish following disappointing US jobs data.
Gold is little changed
GOLD prices have changed little amid reduced expectation of a US Federal Reserve interest rate rise.
Business feeling positive
AUSTRALIAN businesses are feeling optimistic that economic activity in the three months to December will be better than the same time last year.
Kiwi gains as traders digest weak US data
WITH traders pondering whether US interest rate rises will be delayed and NZ rates won’t be cut as deeply as earlier thought, the kiwi dollar has gained.
Kathmandu speculation spurs NZ shares
A BROKER report suggesting Briscoe may bid again for Kathmandu has boosted Kathmandu shares 4.3 per cent in an improving market.
Economsits’ rates views diverge
THE futures market has priced in a quarter per cent rate cut by the end of Q1 2016. ANZ’s Warren Hogan agrees, but NAB’s Ivan Colhoun thinks otherwise.
World Bank trims east Asia growth forecast
THE World Bank expects developing Asian and Pacific economies to grow 6.5 per cent this year, down 0.2 percentage points from its previous outlook.
BoQ prepares for potential class action
THE Bank of Queensland says it is prepared to defend itself against a potential class action.
Invion eyes success with quit smoking drug
THE developer has successfully completed Phase 2 clinical trials for Nadolol in patients trying to quit smoking.
Inflation stays below 2 pct
INFLATION was 1.9 per cent in September, and has stayed below two per cent all year, TD Securities/Melbourne Institute inflation gauge shows.
Major companies push for LGBT rights
A NEW group pushing for LGBT rights in the workplace, includes Microsoft, Google, Coca-Cola, IBM and AT&T Inc among its members.
Wall St execs should have been jailed
FORMER Federal Reserve chairman Ben Bernanke says the Wall Street executives responsible for triggering the GFC should have been jailed.
Migration crisis proves boon for some
EVERY desperate migrant seeking refuge from war and hoping for a better life in Europe offers a business opportunity for someone seeking to make a profit.
Services sector give jobs market a boost
JOB ads rose 3.9 per cent in September, getting a boost from the services sector which is benefitting from the lower Aussie dollar.
Services sector expands for a fourth month
THE Services sector is enjoying its longest continuous period of expansion in seven years, helped by the falling Aust dollar and record low interest rates.
Weighing up if pet insurance is worth it
PET insurance is now on more pet owners’ radars, but the premiums have also gone up.
Carsales completes Mexican acquisition
ONLINE car seller Carsales.com has completed its acquisition of a 65 per cent stake in Mexico-based auto classifieds website SoloAutos, for around $9mln.
NZX trades climb in September
THE value of trading on New Zealand’s sharemarket lifted 23 per cent in September despite commodity prices hurting the benchmark index over three months.
Gold lifts on US jobs data
GOLD lifts two per cent after data shows that the US economy added far few jobs than expected, prompting expectations the Fed won’t lift its rate soon.
Stocks to watch on Monday
STOCKS of interest on the Australian Securities Exchange on Monday
Copper lifts on US jobs data
DISAPPOINTING US jobs data’s pressure on the US dollar helps lift copper prices despite lingering China demand concern.
Hackers attack two major retailers
HACKERS have accessed personal details of David Jones’ online customers in a similar attack to that levelled at Kmart earlier this week.
Robot revolution on China’s factory floors
ROBOTS are rapidly replacing migrant workers to churn out cheap toys, clothing and electronics goods in China’s factories.
Economists poor at picking turning points
S&P global head of economics research Paul Sheard says economists aren’t very good at forecasting when economies suddenly change direction.
RBA unlikely to cut cash rate again
THE Reserve Bank is expected to keep the cash rate unchanged on Tuesday and only two are predicting another rate cut.
VW to give Aust govt car info next week
VOLKSWAGEN have promised government an update next week on whether Australians have been sold cars fitted with devices to cheat emissions tests.
New home sales rebound in August
NEW home sales have rebounded after a weak July, and housing construction is expected to remain at high levels.
Newcrest’s ratings outlook upgraded
RATINGS agency Moody’s has raised Newcrest Mining’s credit outlook to stable from negative.
Stocks to watch on Friday
STOCKS of interest on the Australian Securities Exchange at noon on Friday
Gamblers shun stingier slots, casinos say
THE casino industry is rethinking the type of gambling machines they offer on their floors, as young gamblers move toward skill-based games.
Oregon starts recreational pot industry
OREGON’S medical marijuana dispensaries are getting ready to sell their product to recreational users, amid concern medicinal users could miss out.
Rising retail spending tipped to continue
RETAIL trade rose 0.4 per cent in August and economists expect spending to continue to increase in months leading up to Christmas.
The week in numbers to Oct 2
A SUMMARY of the big, really big and not so big numbers of the past week.
Amazon tests Uber-like service
ONLINE retailer Amazon is testing a new, uber-like, delivery service, paying for people using their own cars to deliver items.
AOFM sells $900m of Treasury bonds
THE AOFM has sold $900 million of October 21, 2019 Treasury bonds.
ACCC raises concerns over Vic gas sale
THE consumer watchdog has raised competition concerns in the Victorian gas market if a proposed storage plant sale goes ahead.
Root of investor anxiety: Uncertainty
MAJOR global share markets are in turmoil but what is causing it? Slowing growth in China? An imminent US interest rise?
Palladium hits 3-month high
PALLADIUM prices have risen to its highest level in nearly three-months on strong car sales; while gold prices were flat.
Copper slides as China optimism fades
COPPER prices have fallen optimism fades over the Chinese economy and its demand for metals
Finance News Update, what you need to know
FINANCE News Update, what you need to know.
NZ dollar little changed on foreign data
SOME big economic reports from overseas have sent conflicting signals, leaving the New Zealand dollar little changed.
Private equity firm buys into OZ Minerals
INTERNATIONAL private equity firm KKR has bought a stake in OZ Minerals.
China manufacturing continues to shrink
CHINA’S manufacturing sector has contracted for the second month in a row in September, with official data showing the PMI at 49.8.
Longer and bigger savings for home deposit
IT has always been hard to save a deposit for a home loan, but a home deposit today requires more savings over a longer period.
Twitter founder Dorsey to be CEO?
TWITTER founder Jack Dorsey looks set to be named the company’s CEO – for his second stint steering the short-messaging service.
Fox, SiriusXM launch headline news service
FOX News is collaborating with satellite news channel SiriusXM to launch a 24-hour news headline service this month.
NRL fans drink, eat more than AFL fans
DATA collected from last year’s AFL and NRL grand final days reveals the different food and drink habits of each codes’ fans.
Suncorp welcomes a new CEO
MICHAEL Cameron has taken control of insurance firm Suncorp after the departure of former CEO Patrick Snowball.
Online retail spending bounces in Aug
THE NAB Online Retail Sales Index rose 0.6 per cent in August, a significant bounce from the 1.4 per cent fall recorded in July.
ANZ promotes Elliott to CEO as Smith walks
ANZ has followed Westpac and NAB in appointing a new chief executive, promoting chief financial officer Shayne Elliott to the top job.
Lower $A gives manufacturing a boost
MANUFACTURING activity is rising at a faster pace as the falling Australian dollar helps local producers compete against imports.
Arrium to cut more costs
STRUGGLING steel and mining group Arrium is shortlisting parties to undertake due diligence on its mining consumables unit, and cutting more costs.
Melbourne leads Sept home price jump
HOME values rose by an average of 0.9 per cent in capital cities in September, with Melbourne the best performer.
VW may face hefty fines in Aust
THE consumer watchdog will demand Volkswagen to come clean tomorrow at a meeting to determine the extent of the emissions scandal in Australia.
Z Energy weighs on NZ sharemarket
Z Energy shares have slumped 12 per cent after Infratil and NZ Super Fund offloaded about 30 per cent of the company in placements.
Fix your credit report for free
OPPORTUNISTIC companies are demanding hefty fees to fix a mistake in your credit report, but you can do it for free.
Skydive company improves forecasts
SKYDIVE The Beach says its takeover of Skydive Australia could deliver greater financial benefits than originally forecast.
Stocks to watch on Thursday
STOCKS of interest on the Australian Securities Exchange on Thursday
Job vacancies up 2.7%
JOB vacancies have risen 2.7 per cent between May and August, according to the latest ABS survey.
Shell’s Arctic decision worries Alaska
SHELL’S decision not to go ahead with drilling for oil in the Artic waters off Alaska has the state worried about the impact on its coffers and jobs.
Newcrest sells balance stake in Evolution
NEWCREST has raised $125 million since June 30 from the sale of its remaining stake in Evolution, and will use the proceeds to reduce debt.
Precious metals fall
SPOT gold falls one per cent on stronger-than-expected US jobs figures, while platinum is also down one per cent on continued fallout from the VW scandal.
Copper surges almost four per cent
LME copper is 3.8 per cent higher but has still finished the quarter down more than 10 per cent, after some stability in Glencore’s share price.
Auction sales rates drop in September
THE typical boom period for home sales has got off to a slightly slow start, with auction clearance rates down in most capital cities.
Kiwi up as positive start to quarter
THE NZ dollar was up to nearly US64 cents as investors began the new quarter on a postive note, underpinning support for such risk-sensitive currencies.
David Jones CEO steps down
THE head of retailer David Jones is stepping down after just 14 months in the job, due to personal reasons.
TPG and Vodafone seal $1b telco deal
TPG Telecom will drop Optus as its mobile provider in favour of Vodafone Australia and extend its dark fibre network to carry its new partner’s data.
Qantas lifts passenger numbers in August
MONTHLY passenger numbers have lifted again for Qantas amid speculation that the airline could return more than $2b to shareholders.
Gloucester protest at AGL meeting
ENERGY supplier AGL will make a financial investment decision on the Gloucester coal seam gas project in northern NSW in 2016.
ASX benefits from increased volatility
THE Australian Securities Exchange has seen volumes jump in the first quarter, after unusual volatility in August and September.
Link Group heads for $2b ASX debut
LINK Group is seeking to raise nearly a billion dollars ahead of making a stock market debut in late October.
Home construction set to ease
THE number of homes approved for construction is staying near record levels, despite month to month volatility.
Stocks to watch on Wednesday
STOCKS of interest on the Australian Securities Exchange on Wednesday
Housing investor credit growth subdued
CREDIT to housing investors rose 0.7 pct in August. With a 0.6 pct rise in July, it was the slowest two-month increase since Sep-Oct 2013.
Original URL: https://www.news.com.au/finance/business/breaking-news/page/200