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.
World Markets
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.
Original URL: https://www.news.com.au/finance/markets/world-markets/page/31