‘Text bomb’ can crash iPhone
A SO-CALLED text bomb bug that can crash an iPhone with a single message has been discovered by a security researcher.
World Markets
Insurers to refund $63m in ‘junk’
SUNCORP and Allianz will be forced to repay almost $63 million to customers who were sold “junk” insurance when buying cars.
House prices continue to fall
HOME prices across Australia’s five major capital cities have fallen slightly over the past week, but are up close to 4 per cent year-on-year.
Diamonds lose shine in Australia
MICHAEL Hill says a flat performance in Australia and a sharp fall in the US have offset solid sales growth elsewhere.
Ikea wants pregnant women’s wee
SWEDISH furniture giant Ikea is calling on customers who might be pregnant to wee on their new catalogue.
House prices continue to drift
NATIONAL home prices remained flat last week, but the continued drift in Sydney means they dropped on a monthly basis.
Billabong surfs on buyout offer
BILLABONG is recommending shareholders accept a formal buyout proposal by the owner of Quiksilver, Roxy and DC Shoes.
Cost of living hits in December
ACTIVITY in the services sector edged only marginally higher last month, with households wrapping up the year on a cautious note.
Yowie sales plummet, shares tank
YOWIE shares have slumped to a near-five-year low after the confectionary maker dramatically slashed its full-year sales guidance.
Petrol prices under the pump
STIFF resistance from the Aussie dollar is keeping a cap on rising petrol prices as New Year travellers hit the roads.
Gloria Jean’s owner in free fall
SHARES in Retail Food Group have plunged to an eight-year low after warning its half-year profit is set to fall by more than a third.
RFG shares hit five-year low
RETAIL Food Group shares have plunged amid reports it has left Gloria Jean’s, Brumby’s and Donut King franchisees struggling.
Bitcoin smashes through $19,000
BITCOIN has blasted to another all-time high of $US19,000, as concerns grow over the risks of investing in the highly volatile currency.
RFG rejects franchisee claims
RETAIL Food Group has denied reports that hundreds of Donut King, Gloria Jean’s and Brumby’s franchisees have been driven to the wall.
The Aussie property boom is over
THE Aussie property boom is nearing its end, with housing price growth to run in the low single-digits in 2018, a leading economist says.
Department stores in dire straits
DEPARTMENT stores could be shrinking more quickly than previously thought, as consumers shift away from traditional spending habits.
Bitcoin shoots through $US16,000
BITCOIN’S relentless rise is continuing with the cryptocurrency shooting past the $US16,000 mark, adding to fears of a dangerous bubble.
Smart fridges are pretty creepy
CONSUMERS don’t trust companies with personal information and think technology that knows when their fridge needs refilling is “creepy”.
Cashless future far away, RBA says
WITH the demand for physical cash in many countries growing, Australia’s journey to becoming a cashless society is likely to be slow.
Quiksilver surfs into Billabong
BILLABONG has received a merger proposal from the owner of Quiksilver that values the surfwear retailer at about $200 million.
Snag Stand hits its final snag
COLLINS Foods is closing its fledgling Snag Stand business as it launches Taco Bell and focuses on its lucrative KFC restaurants.
Marijuana munchies set to launch
MEDICINAL cannabis company Creso Pharma is looking to take a bite out of the “edibles” market with a range of chocolates.
Aussie beer gets Chinese deal
SHARES in listed Aussie beer maker Broo have soared to their highest level in a year on the back of a Chinese distribution deal.
Ten Network set to go private
TEN Network’s near two decade spell as a publicly listed company is about to come to an end as it starts its new venture under CBS ownership.
China launches lending crackdown
CHINA on Tuesday took steps to clamp down on the fast-growing market for web-based micro-lenders, a sector Beijing has grown increasingly worried about.
Flow of Chinese money slowing
PURCHASE of residential property by foreign buyers has eased over the past year because of tighter capital controls by Beijing, the RBA says.
Walmart posts massive sales
SURGING online sales and strong food sales helped retailer Walmart deliver its largest sales gain in more than eight years.
Scotland to tackle binge drinking
SCOTLAND is to become one of the first countries in the world to introduce minimum alcohol pricing in an attempt to tackle binge drinking.
Mike Baird nabs massive payday
MIKE Baird’s return to banking has proved lucrative, with the former NSW premier paid almost $900,000 in his first five months at NAB.
EU demands $100 billion Brexit bill
THE European Parliament’s president says Britain should pay at least 60 billion euros as it leaves the EU to meet its financial commitments.
Bitcoin rebounds after shock plunge
BITCOIN’S value has surged again, recovering more than $US1000 after losing almost a third of its value in less than four days.
Bitcoin plunges from all-time high
BITCOIN dropped below $US7000 to trade more than 5 per cent down, having fallen by well over $US1000 since Wednesday.
Citibank to refund $4.3 million
CITIBANK will pay more than $4.3 million in refunds to customers after failing to give back outstanding credit card balances.
CBA planner forged signatures
A FORMER CommBank planner has pleaded guilty to forging the signatures of clients on application and other documents.
ATO investigating Paradise Papers
The ATO is analysing a trove of more than 13 million leaked documents covering a complex offshore web of financial dealings.
Queen caught in tax bombshell
THE Queen has become embroiled in an explosive leak of financial documents laying bare investments in offshore tax havens.
Bitcoin hits fresh record high
BITCOIN has rocketed above $US7000 for the first time ever, after a more than sevenfold increase in its value since the start of the year.
Myer’s ‘op shop’ stock slammed
MYER is committed to dedicated clearance floors despite Solomon Lew fuming that the old stock would be more at home at the Salvos.
Kellogg reveals Eggo sales spike
KELLOGG says sales of its Eggo waffles and Pringles chips rose around the world, offsetting falling cereal sales.
Market’s busiest week of the year
A RECORD number of Melbourne auctions meant last week was the Australian property market’s busiest of the year.
Subaru to recall 255,000 cars
SUBARU is planning to recall around 255,000 cars after admitting using uncertified workers for the safety inspections.
Ten sale bad news for rivals
THE sale of the Ten Network to US media giant CBS would likely cause havoc for rival broadcasters Seven and Nine.
Warning for gig economy workers
WORKERS in the “gig economy” driving for Uber or doing odd-jobs on Airtasker could be in for a rude shock down the line.
AGL firms on gas and renewables
AGL Energy has sent a strong signal that its ageing Liddell coal-fired power plant is unlikely to operate beyond 2022.
Aussies spending on ‘experiences’
MORE Australians are splashing out on “meaningful experiences” such as concerts and dining rather than retail, according to NAB.
Myer’s poor performance slammed
AN ANGRY Solomon Lew has slammed department store Myer over old stock that “belongs in the Salvation Army”.
Uber fights for London licence
UBER is prepared to make concessions as it seeks to reverse a decision by London authorities not to renew its licence in the city.
Warning of manufacturing wipe-out
AUSTRALIA could lose a significant chunk of its manufacturing sector if energy costs don’t come down, a leading investment firm says.
Apartment price growth stalls
HOUSE price growth is outpacing growth in apartment prices, a trend expected to continue as more units come onto the market.
Mortgage arrears hit five-year high
AUSTRALIAN mortgage arrears have hit their highest rate in five years and are set to increase, according to new data.
Finance news you need to know today
GLOBAL debt has been massively under-reported by accounting practices that overlook about $16 trillion worth of foreign exchange derivatives, the BIS says.
Myer boss cops $150,000 pay cut
MYER boss Richard Umbers has taken a $150,000 pay cut after the department store chain’s profit fell by 80 per cent.
Meatpacker whacked by police
BRAZIL’S federal police have detained the chief executive officer of JBS SA, the world’s largest meatpacker.
SA campaign kills Bell Pottinger
BELL Pottinger’s British arm has collapsed after the global PR agency ran a racially-charged political campaign in South Africa.
China set to ban petrol cars
CHINA is joining France and Britain in announcing plans to end sales of petrol and diesel cars in favour of electric technology.
Booze giants ‘use tobacco tactics’
THE alcohol industry uses denial, distortion and distraction to mislead people about the risks of developing cancer, a study says.
Ultra-thin models get the boot
TWO of the world’s biggest luxury goods conglomerates say they want to make those who are unhealthily thin ineligible to work.
China hits back at Korea threat
CHINA says Donald Trump’s threat to cut off trade with countries that deal with North Korea is unacceptable and unfair.
Retailers hope to feel the Force
AUSTRALIAN retailers are looking to a galaxy far, far away for a much-needed to boost to their bottom line.
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THE Trump administration has selected four construction companies to build concrete prototypes for the Mexico border wall.
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DONALD Trump has turned his populist rhetoric to tax reform, calling for “pro-American” business tax cuts as a way to create jobs.
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CABCHARGE has posted a $91 million full-year loss as it resets its operation in the face of growing competition from ride sharing giant Uber.
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THE oldest white supremacist site on the internet has been shut down after a complaints that it promoted hatred, racism and violence.
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FORMER GE boss Jeffrey Immelt has taken himself out of the running to lead Uber as the company seeks to overcome its ethical scandals.
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SALES growth at David Jones has slowed amid a decline in consumer spending and due to a poorly received private label clothing range.
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WALMART is diving into voice-activated shopping with Google to offer hundreds of thousands of items through Google Assistant
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AUSTRALIA’S biggest dairy processor, Murray Goulburn, has posted full-year loss of $371 million amid plummeting milk supplies.
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CHINA has expressed “strong dissatisfaction” with the US launch of an investigation into China’s alleged theft of US intellectual property.
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BEVERAGE giant Coca-Cola Amatil says it will recover costs of NSW’s new container deposit scheme from customers by raising prices.
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TELSTRA shares have plunged to a five-year low after the telco cut future dividends to build up a war chest to protect its massive market.
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AFTER an embarrassing exodus of business leaders, US President Donald Trump has been forced to disband two of his key advisory groups
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THE central bank is losing confidence that Australia’s hot property market is cooling enough, particularly in Melbourne and Sydney.
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DONALD Trump has lashed out at the CEO of the nation’s third-largest drug maker after he resigned from a federal advisory council.
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AMAZON is exploring a technology first developed for the US military to produce tasty prepared meals that do not need refrigeration.
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MOTORISTS could end up paying more for fuel if BP’s proposed $1.8 billion takeover of Woolworths petrol stations goes ahead.
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CONSUMER sentiment has fallen for the seventh consecutive month, marking the weakest succession of reads since 2008.
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AUSTRALIA’S first trial of driverless vehicles on a toll road in real traffic conditions is set to start this month in Melbourne.
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AL JAZEERA has vowed to take legal action after the Israeli government’s decision to close the TV network’s bureau in Jerusalem.
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JAPANESE carmakers Toyota and Mazda plan to spend $2 billion to build a joint-venture manufacturing plant in the US.
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HOME and car insurance premiums are expected to rise by up to five per cent next year because the cost of repairs are higher.
Original URL: https://www.news.com.au/finance/markets/world-markets/page/27