BUSINESS

Australian Stock Market Report –Afternoon 6/11/13

The local index was a conspicuous improver in the region on Tuesday for the fact that almost all other bourses ended lower. Investors dodged a bullet at the weekend with the release of some reasonable US jobs data. The figures were able to reassure the markets that the US economy is still creating jobs at a reasonable pace without escalating concerns about the Feds QE retreat.
More news

West Australian Newspapers Announce 110 Job Cuts This Month

West Australian Newspapers, the company publishes the West Australian, Community Newspaper group and 21 other titles, is cutting 110 jobs by the end of this month. This was announced by company chief executive Chris Wharton to the staff today.

Newcrest Mining Face Probe on Plummeting Share Price

Pending an investigation, Newcrest Mining has promised to give its full cooperation and allow authorities to look into its disclosure record. The probe comes after share price of Newcrest Mining plummets to its all-time low in 30 years last week. The share price decreased by 15% as gold prices dropped as well.

Australians Don't Have Access to Basic Financial Services - Survey

A survey by the Center for Social Impact and NAB reveals that almost one in five Australians don't have access to basic financial services. This means they don't have at least two of the following: a basic bank account, a credit card, or basic home and car insurance.

Spot Uranium Drops Below US$40/lb

- Uranium spot price falls below US$40/lb- Spot market slow- Activity, but no sales in term markets- Probably more of the same until JulyBy Andrew NelsonStubborn uranium sellers have been holding off speculative buyers for a while now, unwilling to drop prices to get deals done.

U.S. Sports Brand Under Armour to Open Australia Outlet in 2014

American sportswear manufacturer Under Armour aims to double its sales to $4 billion by 2016, and one of its strategies is to expand its overseas market. To achieve that, the retailer would open its first Australian store in 2014 and could expand its strategic relationship with Rebel Sport, said Kevin Plank, founder and chief executive officer of Under Armour.

Perth Airport: Expect More Strike Protests

More strike protests are expected to be staged by angered employees at the Qantas terminal of Perth Airport after 11 security screeners were locked out of their jobs for wearing "Paid Less in the West" t-shirts. Employees are protesting that their wages are lower compared to their interstate counterparts.

U.S. auto industry Steadily Recovering, to Go on Hiring Spree

What previously was a struggling industry in the United States is now a booming area. The auto industry just recently announced its plans of going on a hiring spree. Car makers and suppliers are on the hunt for technicians, engineers and factory workers to satisfy the increasing demand and build the next generation cars.

Is Australia Losing Its Ability to Discover and Innovate?

The answer of Andrew Liveris, Dow Chemical global chairman and chief executive, to that question is a resounding "Yes". The chair of the Australia-US Business Council said that Australia is losing the ability to innovate and develop. Liveris said acknowledges that Australia has the resources and tools to discover new products and innovate.

Newcrest Mining Shuts Down Brisbane Office, Cuts 100 Jobs

The share price of Newcrest Mining falls to an all-time low in 30 years resulting in a $780 million loss for the company. Newcrest Mining blames the drop in gold prices on the company's decision to reduce spending by 20 percent.

Australian Stock Market Report – Afternoon 6/7/13

Another week has passed where sellers have continued to define the market atmosphere. The ASX200 has lost the most part of 10% since the early part of May. The defining aspect of market volatility during this period has been the open debate moderated by the US Fed on the winding back of quantitative easing. Adding another dimension the selling in local terms has been the pace of profit downgrades from corporates in recent week. This last point talks to the recent flow of economic news which has ...

A Genuine Economic Recovery Requires a Genuine Bust

Australia's economic growth for the three months to 31 March came in at 0.6%, just below expectations of 0.7% growth. The annual rate of expansion slowed to 2.5%, the slowest growth rate since June 2011.

Pages