BUSINESS

Australian Deficit: Where Did the Money Go?

Ah. So that's what happens when you spend money you expect to have and then the money fails to show up. You get a $7.5 billion federal deficit that will be around $12 billion by the end of the year. If Standard and Poor's said Australia's AAA credit rating was under threat without a government commitment to reduce the deficit, then aren't bigger government deficits a threat to Australia's credit rating now?

BHP Gets Rid of Pinto Valley for $650m

BHP Billiton informed that it finally got rid of the Pinto Valley copper mine and a railroad in Arizona. The lucky buyer of these assets is Canada's Capstone Mining Corp. which is to pay as much as $650 million to the global mining giant.

Revolution at JPMorgan as It Looses Co-COO Bisignano

J.P. Morgan Chase & Co. the financial behemoth, which employees 258,965 people and is considered the largest US Bank with operations across the globe, announced the departure of its Co-Chief Operating Officer Frank Bisignano on the 28th April 2013.
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Australian Stock Market Report – Midday 4-29-13

The local market is continuing on its strong run, with the All Ordinaries Index (XAO) up by 0.5 per cent. This follows on from the best weekly performance for Australian shares since December 2011.

Almost 400,000 Aussies Unfriend Facebook Since December 2012

While Facebook, the world's most popular social media site, continues to pervade the lives of its 1 billion members through the newly released Facebook Home, in Australia, the site is becoming less popular as almost 400,000 Aussies unfriended Facebook since December 2012.

The Truth On Gold

By Alexander Green, Investment U Chief Investment StrategistInvestors worldwide have watched gold take a precipitous plunge in recent weeks.

Why Are Central Banks Buying Stocks?

We end the week continuing on the 'bad news is good news' theme. Actually, it's a theme that's been in vogue for a while now, but it's really ramped up in the past week.

Paris – Let the City of Light Seduce Business

Paris... Can Paris be described in few words, one sentence, two sentences? The answer is no. Paris, the City of Light, has this undeniable magic that lures ordinary mortals. But the truth is that Paris is not only the city of love. Indeed, Paris is believed to be the better business destination. The City of Light is simply believed to be a place to do business.

Lloyds Investors Cheer the Collapse of Co-op Bank Deal

The Co-operative Bank, which currently owns one bank branch and three outlets in Scotland, came forward in December 2011 to bid £ 750 million for part of a business owned by Lloyds Banking Group. It entered into a Memorandum of Understanding with "Lloyds Banking Group" to complete the purchase by November 2013.

South Korea Economic Growth Shines as it Beats Estimates

South Korea has reasons to boast as it saw its Q1 GDP climb at the fastest rate in two years. The expansion was above analysts' expectations as growth was driven by an improvement in construction and investment, not to mention strong exports. In spite of optimistic data , it seems that the country will struggle as consumers and exporters are less confident.

MorePhone Bends and Twists When It Receives Text, Call

All eyes are on South Korean tech giants Samsung and LG which one will win the race to produce a smartphone with flexible screens. However, a Canadian laboratory has actually made a prototype that bends and twists when it received a call or short messaging. The model is called MorePhone, made by researchers at the Human Media Lab of Queen's University.

Australian Stock Market Report – Midday 4-26-13

The Australian market is improving for the fifth straight trading session, making it the second longest winning streak of the year. The All Ordinaries Index (XAO) is up 0.1 per cent or 5.00 pts to 5,089.2. As long as the market holds on to the gains, shares would have improved by more than 3.5 per cent this week.

Your Editor On Twitter

By Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.

Like YouTube April Fools’ Day Hoax, Facebook Hit by Fake Closure News

The month is almost over, but some people are still going back to the first day of April by creating April Fools' Day pranks. A recent joke, similar to YouTube's announcement on March 31 that it will close the popular video sharing site, is a post in Facebook that founder Mark Zuckerberg decided to shutter the most popular social networking site with 1 billion members.

Woodside Now A Yield Play; BHP And Rio Next?

- Woodside hands out dividend presents- Brokers question implications for growth- Woodside will now out-yield the banks- Fresh pressure on BHP and Rio?By Greg PeelThere are two things we can claim to be certainties in the stock market of 2013.

Digital Underwear for Long Distance Lovers [Video Demo]

Touch your lover over a distance with new innovation over electronic lingerie and underpants called Fundawear. Using tiny vibrating devices similar to smartphones, let it make you feel your partner anywhere in the planet.

Why We’re Delighted to See Gold Smacked Down

If you're in a card game and you look around the table... if you can't figure out who the fool is, he might be you. Then, you get nervous. You start rubbing your hands or scratching your forehead. The other players will see that you've lost your nerve.

Woodside and the Willy Wonka Market

While the Australian market ignored the slow implosion of its big neighbour to the north yesterday, it held a party for Woodside, who boosted its dividend payout ratio from 55% of earnings to 80%, and promised to hold it there for the next few years. The stock price jumped nearly 10%.

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