BUSINESS

Global Markets Overview – 3-7-13

Wednesday night it is was US non-manufacturing PMI that pushed the Dow to all-time highs and the S&P near its all-time high; last night, however it is was non-farm payrolls shooting the lights out.

Australian Stock Market Report – Morning 3-7-13

The US ADP reported another 198,000 private sector jobs were created in February, with January numbers revised up to 215,000. The underlying trend remains one of improvement in terms of job creation. US factory orders fell back by 2pct in January, largely due to a fall in demand for military hardware and commercial aircrafts.

Australian Stock Market Report – Afternoon 3/6/2013

The last 24 hours for global markets have been defined by positive news. One of the headline grabbing outcomes has been the Dow Jones closing at a new record high over night. Supporting news included European manufacturing reports which didn't disappoint investors, the Chinese administration announcing that the 2nd biggest economy in the world will grow at 7.5% this year and a better than expected read on activity in the US services sector. As a result the volatility which gripped the markets...
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Australian Stock Market Report –Midday 3/6/2013

After a great run here at home yesterday where the ASX 200 index closed 1.3% or 64points higher, European and UK markets rallied. Regained confidence in the US markets pushed the UK FSTE index to a 5 year high at the close of trade.

After Horsemeat Scandal, Faecal Bacteria Found in Ikea Cake Products in China, 2 Tonnes Destroyed

After a debilitating horsemeat scandal, Ikea is again on the hot seat, this time after Chinese authorities discovered excessive levels of faecal or coliform bacteria in its chocolate almond cake products that were imported by the furniture and accessories store to China from Sweden. An equivalent two tonnes (1,872 kilos or 4,100 pounds) of the chocolate almond cake were immediately destroyed.

The Short Report

By Andrew NelsonThe Week from the 20th and 27th of February was another subdued one for shorting and short covering activity on the Australian share market.

Australian Dollar Outlook – 3/6/2013

The Australian Dollar has mostly held its ground against the US Dollar, getting support from decent economic indicators here and abroad and also from yesterday's RBA interest rate announcement.

China is World's Top Oil Importer, Beating U.S.

China has provisionally overtaken the U.S. as the world's largest net importer of oil, said the Financial Times on Tuesday, after the U.S. posted its lowest import figures since 1992 on the back of booming domestic oil production.

The Worrying Signs in China’s Economy for Aussie Miners

It was not an impressive start to the week for the Australian share market. But life is full of second chances. And today, the Reserve Bank of Australia meets to fix the price of money. Perhaps the RBA will say something about lowering interest rates that will lift investor's spirits.

What the Shale Gas Revolution Could do to LNG Prices

China has just surpassed the US as the world's largest oil importer. This is the story of rising Chinese demand. But it's also the story of rising US oil production. And THAT's the story of shale gas, which we'll return to later this week. Here's how the Financial Times reports it.

Australian Stock Market Report – Morning 3/6/2013

The US ISM services index rose from 55.2 to 56.0 in February, the highest level in a year and above forecasts centred on result near 55.0. The exports sub-component of the index hit the highest level in almost six years. The Redbook chain store sales index was up 2.2pct in the latest week on a year ago.

Jaguar Land Rover Hikes Investment at UK Engine Plant

Luxury carmaker Jaguar Land Rover informed that it would scale up investments at its UK engine plant by more than 40 percent as demand for the SUVs increased in China and other emerging markets as well. In addition, Jaguar Land Rover plans to double the head count by creating additional 700 jobs and invest £500 million at its i54 business park.

UK Sees Retail Sales Increase in February

On the 5th of February, the survey by the British Retail Consortium indicated that the UK retail sales increased in February at the fastest rate in about three years. The latest figures suggested that consumer confidence was boosted as UK customers went out to buy clothes, home furnishings and electronics goods.

HSBC Reports Declining Full Year Profits

On the 4th of March, HSBC Holdings reported a fall in its full year preliminary profit for the year ended December 2012. The bank cited debt revaluation and the US related money-laundering fine as some of the major determinants which led to declining profits.

China Maintains 7.5% Growth Target for 2013

On the 5th of February, Wen Jiabao informed that the growth target for 2013 was left unchanged at 7.5 percent. While the leaders did not decide to change growth target, they modified inflation goal establishing it at the level of 3.5 percent.

Australian Stock Market Report – Afternoon 3/5/2013

Tuesday saw a generally positive session for regional stocks in the aftermath of Monday's selling. Investors continue to keep a wary eye on the Shanghai Composite index. From a technical perspective the Chinese index appears vulnerable given its 3.7% decline on Monday.

Wanna Be a Great Barrier Reef Caretaker? Join Tourism Australia’s 6 Best Jobs in the World Promo

Working people tired of spending their whole day in front of the computer or assembling parts in a factory could try their options in getting a dream job. That dream may come true for young workers who would join Tourism Australia's Best Job in the World contest launched on Monday. The agency will award very alluring jobs to six winners of the competition in its bid to attract more younger tourists to the land down under.

Kim Dotcom Plans Australia or NZ IPO for Mega Filesharing Site

Kim Dotcom, the owner of the shuttered Megaupload file sharing site, has plans to launch an initial public offering for his new site, Mega, in the next 18 months. The IPO is seen as an effort to gain more legality in his operations which has been shut down by police over charges of copyright violations.

New Pope 2013: Start of Conclave Delayed by 12 Late Cardinals, Talks on Corruption, Sex Issues

Majority of the cardinal electors are already present in Vatican, hobnobbing with each other in and outside private meetings. But this majority chose not to determine yet a date for the start of the papal conclave as they wait for the arrival of 12 more fellow cardinals. In the meantime, talks on corruption and sex issues hounded the first day of pre-conclave meetings on Monday.

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