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’S value has surged again, recovering more than $US1000 after losing almost a third of its value in less than four days.
BITCOIN dropped below $US7000 to trade more than 5 per cent down, having fallen by well over $US1000 since Wednesday.
CITIBANK will pay more than $4.3 million in refunds to customers after failing to give back outstanding credit card balances.
A FORMER CommBank planner has pleaded guilty to forging the signatures of clients on application and other documents.
The ATO is analysing a trove of more than 13 million leaked documents covering a complex offshore web of financial dealings.
THE Queen has become embroiled in an explosive leak of financial documents laying bare investments in offshore tax havens.
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 is committed to dedicated clearance floors despite Solomon Lew fuming that the old stock would be more at home at the Salvos.
KELLOGG says sales of its Eggo waffles and Pringles chips rose around the world, offsetting falling cereal sales.
A RECORD number of Melbourne auctions meant last week was the Australian property market’s busiest of the year.
SUBARU is planning to recall around 255,000 cars after admitting using uncertified workers for the safety inspections.
THE sale of the Ten Network to US media giant CBS would likely cause havoc for rival broadcasters Seven and Nine.
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 Energy has sent a strong signal that its ageing Liddell coal-fired power plant is unlikely to operate beyond 2022.
MORE Australians are splashing out on “meaningful experiences” such as concerts and dining rather than retail, according to NAB.
AN ANGRY Solomon Lew has slammed department store Myer over old stock that “belongs in the Salvation Army”.
UBER is prepared to make concessions as it seeks to reverse a decision by London authorities not to renew its licence in the city.
AUSTRALIA could lose a significant chunk of its manufacturing sector if energy costs don’t come down, a leading investment firm says.
HOUSE price growth is outpacing growth in apartment prices, a trend expected to continue as more units come onto the market.
AUSTRALIAN mortgage arrears have hit their highest rate in five years and are set to increase, according to new data.
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 Richard Umbers has taken a $150,000 pay cut after the department store chain’s profit fell by 80 per cent.
BRAZIL’S federal police have detained the chief executive officer of JBS SA, the world’s largest meatpacker.
BELL Pottinger’s British arm has collapsed after the global PR agency ran a racially-charged political campaign in South Africa.
CHINA is joining France and Britain in announcing plans to end sales of petrol and diesel cars in favour of electric technology.
THE alcohol industry uses denial, distortion and distraction to mislead people about the risks of developing cancer, a study says.
TWO of the world’s biggest luxury goods conglomerates say they want to make those who are unhealthily thin ineligible to work.
CHINA says Donald Trump’s threat to cut off trade with countries that deal with North Korea is unacceptable and unfair.
AUSTRALIAN retailers are looking to a galaxy far, far away for a much-needed to boost to their bottom line.
THE Trump administration has selected four construction companies to build concrete prototypes for the Mexico border wall.
DONALD Trump has turned his populist rhetoric to tax reform, calling for “pro-American” business tax cuts as a way to create jobs.
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.
THE oldest white supremacist site on the internet has been shut down after a complaints that it promoted hatred, racism and violence.
FORMER GE boss Jeffrey Immelt has taken himself out of the running to lead Uber as the company seeks to overcome its ethical scandals.
SALES growth at David Jones has slowed amid a decline in consumer spending and due to a poorly received private label clothing range.
WALMART is diving into voice-activated shopping with Google to offer hundreds of thousands of items through Google Assistant
AUSTRALIA’S biggest dairy processor, Murray Goulburn, has posted full-year loss of $371 million amid plummeting milk supplies.
CHINA has expressed “strong dissatisfaction” with the US launch of an investigation into China’s alleged theft of US intellectual property.
BEVERAGE giant Coca-Cola Amatil says it will recover costs of NSW’s new container deposit scheme from customers by raising prices.
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.
AFTER an embarrassing exodus of business leaders, US President Donald Trump has been forced to disband two of his key advisory groups
THE central bank is losing confidence that Australia’s hot property market is cooling enough, particularly in Melbourne and Sydney.
DONALD Trump has lashed out at the CEO of the nation’s third-largest drug maker after he resigned from a federal advisory council.
AMAZON is exploring a technology first developed for the US military to produce tasty prepared meals that do not need refrigeration.
MOTORISTS could end up paying more for fuel if BP’s proposed $1.8 billion takeover of Woolworths petrol stations goes ahead.
CONSUMER sentiment has fallen for the seventh consecutive month, marking the weakest succession of reads since 2008.
AUSTRALIA’S first trial of driverless vehicles on a toll road in real traffic conditions is set to start this month in Melbourne.
AL JAZEERA has vowed to take legal action after the Israeli government’s decision to close the TV network’s bureau in Jerusalem.
JAPANESE carmakers Toyota and Mazda plan to spend $2 billion to build a joint-venture manufacturing plant in the US.
HOME and car insurance premiums are expected to rise by up to five per cent next year because the cost of repairs are higher.
DISCOUNT supermarket chain Aldi is opening up its pantry to Channel Seven for the first season of Hell’s Kitchen.
AUSTRALIAN banks have agreed to stop selling on-the-spot add-on insurance — “junk insurance” — to customers applying for credit cards.
THE tiny European nation of Slovenia is undergoing a tourism boom partly because it’s the native country of US first lady Melania Trump.
TESLA has set the stage for the biggest test of the company’s strategy to become a profitable, mass market electric car maker.
EMBATTLED retailer Surfstitch is looking at selling assets as costs mount from several legal proceedings and an investigation by ASIC.
IRAN will reciprocate if the US imposes new sanctions on it, President Hassan Rouhani says, casting doubt over the outlook for the 2015 nuclear accord.
RETAIL Food Group will expand its Donut King franchise to Sweden as part of its plan to break into Europe.
SOME of the BBC’s top female journalists and TV presenters are demanding the broadcaster fix its wide gender pay gap immediately.
COMMERCIAL free-to-air networks are calling for the scrapping of children’s and preschool content quotas due to dwindling young audiences.
AMAZON is launching a new social network aimed at getting its hardcore users to spend even more money with the e-commerce giant.
MELBOURNE has overtaken Sydney as the country’s hottest housing market, with prices rising five per cent over the past month.
MORE than half of Australia’s Topshop and Topman stores have closed as administrators continue to restructure the clothing retailer.
SOME people are going hungry and suffering immense psychological stress as they try to pay their power bills.
SOME of the Crown Resorts employees imprisoned in China on gambling charges, including two Australians, have been released.
A FREE-SPEECH group has sued US President Donald Trump for blocking Twitter users from his @realDonaldTrump account.
HOUSE prices have risen in most of Australia’s major capital cities while auction clearance rates have increased in all but two.
SPENCER Johnson, whose book Who Moved My Cheese sold 25 million copies and became a business and self-help phenomenon, has died.
SUNCORP says it has finalised over half the claims lodged by its customers after Cyclone Debbie, and more than 1500 home repairs have been completed.
GERMANY has stepped up its campaign against organised crime by spending $7.5 million to buy the so-called Panama Papers.
WOOLWORTHS’ sales turnaround is likely to happen at a faster pace than the market expects, analysts at investment bank UBS say.
THE cooling of the housing market in China will weigh on the economy during the second half of the year, credit rating agency Fitch warns.
BRITAIN will withdraw from an agreement that allows some other European countries to fish off its coast as it “takes back control” of fishing policy.
HUNDREDS of striking Greek sanitation workers have ended a 10-day strike as steaming mountains of garbage piled up across the country.
FACEBOOK is deleting about 66,000 posts a week as the social media giant cracks down on what it considers to be hate speech.
FISHING fleets dump about 10 per cent of the fish they catch back into the ocean in an “enormous waste” of low-value fish, scientists say.
BARNABY Joyce is telling European officials that Australia is not out to exploit Brexit or flood their markets with agricultural products.
THE banking lobby has slammed a surprise bank levy announced by the South Australian government, labelling it an “outrageous cash grab”.
YOWIE Group has again slashed its full-year revenue growth forecast despite exceeding expectations in its return to Australian supermarkets.
HOME prices across Australia’s capital cities have risen an average of 10.2 per cent in the year to March 2017, driven by Sydney’s strong property market.
PROPERTY prices have ticked slightly higher across most of Australia’s capital cities, although the auction clearance rate has stayed below 70 per cent.
Original URL: https://www.news.com.au/finance/markets/world-markets/page/28