BUSINESS

The Overnight Report: Back To (Fed-Fuelled) Business

By Greg PeelThe Dow closed down 2 points while the S&P gained 0.7% to 1733 and the Nasdaq added 0.6%.No one was entirely sure just how Wall Street would react last night to the reopening of the US government on a can-kick basis.

Australian Stock Market Report – Afternoon 10/17/13

At long last, the news we have all been waiting for. The United States House of Representatives has passed a bill that will see the re-opening of government and raise the US debt ceiling. The House voted 285-144 in favour of the legislation after the Senate earlier passed the bill 81-18. The agreement will see the US Federal Government reopen after being shut for the past 17 days and will remove the debt issuance restrictions. As government departments reopen tomorrow, we will get a clearer idea...
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Australian Stock Market Report – Midday 10/17/13

The Australian sharemarket is higher for the third day, with the All Ordinaries Index (XAO) 0.2 per cent stronger. This as the US Senate has voted to not only reopen the government after 16 days of closure, but also to temporarily raise the debt ceiling. The House of Reps is expected to vote next.

Hockey: Rising Australian House Prices Are More Affordable

What he's referring to is that the supply of Australian housing should rise as prices do. He's worried about affordability for developers, not buyers. That's fair enough...if you want to ignore the other half of the supply and demand equation.

Chinese Phonemaker Xiaomi Sells 100,000 MiPhone 3 in 83 Seconds

A relatively new Chinese phone firm, Xiaomi, appears to have broken global record in smartphone sales after it sold the first batch of 100,000 MiPhone 3 smartphones and 3,000 MiTV sets on Wednesday noon at its Web site. The phones were snapped in just 83 seconds, while the TVs in 118 seconds.

Australian Stock Market Report – Afternoon 10/16/13

One of the noteworthy developments of the last day has been the announcement by the Fitch ratings agency that it was placing the US's AAA sovereign rating on ´´rating watch negative´´, This suggests a greater chance a credit rating downgrade, in fact a 1 in 2 chance , compared to 1 in 3 chance implied by a "negative outlook".

Australian Stock Market Report – Midday 10/16/13

The local markets has done it all in the first half of the session, with stocks down by as much as 0.5 per cent early on, trading flat more recently and currently up by just a few points at lunch. The All Ordinaries Index (XAO) is up by around 0.2 per cent.

Term Deposits Will Tell You When To Dump Stocks

By Peter Switzer, Switzer Super ReportThe path for term deposits will be a good indicator for when it will be time to cut your exposure to the stock market and I suspect that we're now at the bottom of the interest rate cycle.

Would You Eat in This LA Chinese Restaurant That Serves Noodles in Toilet Bowl-Shaped Containers? (VIDEOS & PHOTOS)

Toilets are associated with dirt and filth because it in those porcelain bowls where people pass out their solid and liquid body waste for sanitary purposes. But what if a restaurant decides to use toilet bowl-shaped containers to serve noodles and other Asian dishes in it, would you dare dine in such kind of establishment? The Magic Restroom Café, located at 18558 Gale Ave, No 222, City of Industry, Los Angeles, California, does that. The restaurant, owned by new restaurateur YoYo Li from China...

Australian Stock Market Report – Afternoon 10/15/13

The main feature of the afternoon session in local trade was the resolve of the local index to remain at the highs of the day. This could easily be dismissed as being of little consequence. Although an argument could be made that the performance that given the performance of the market in recent weeks ( the ASX200 is at its best levels since the end of September ) it could be suggested that shorters or sellers could reasonably be rethinking their ways given the market's resilience.

Old Chinese Woman Sues Own Children for Abandoning Her

A 94-year old Chinese woman has been afforded rights by a court in China on the legal action she slapped against her four adult children. Zhang Zefang had taken her children to court for abandonment because they refused to take care of her.

Australian Stock Market Report – Midday 10/15/13

U.S. SENATE MAJORITY LEADER HARRY REID SAYS HE AND REPUBLICAN MCCONNELL HAVE MADE ´´TREMENDOUS PROGRESS´´ TOWARDS DEBT LIMIT, GOVERNMENT FUNDING DEAL, BUT ´´WE ARE NOT THERE YET´´ - RTRS This headline flashed across news screen just over half an hour before local trade kicked off this morning. The optimistic tone expressed has set the tone for the Asian session so far. Expectations are that a positive conclusion is close at hand.

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