BUSINESS

Global Markets Overview – 9/6/2012

Risk assets were mixed through Europe and US trade ahead of the ECB press conference later today. The euro spiked on reports that the ECB will undertake an unlimited and sterilised buying of sovereign debt with maturities of up to three years, but would refrain from setting yield caps. EUR/USD advanced to a high of 1.2625 and remains sidelined above 1.26.

Australian Stock Market Report – Morning 9/6/2012

The US Redbook weekly chain store sales index was up 2.5pct on a year ago, ahead of the 1.5pct annual gain in the previous week. US productivity grew at a 2.2pct annual pace in the June quarter while labour costs rose at a 1.5pct annual rate.
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Grocon Protest Enters 3rd Week

The stand-off between builder Grocon and the Construction, Forestry, Mining, and Energy Union (CFMEU) entered its third week on Wednesday with the protest of construction workers spreading to two more sites.

Millennials, USA, US Economy

In France, as in the USA, the weight of the welfare/warfare state rests on the shoulders of this next generation. In America, they are expected to support $211trn of debt and unfunded healthcare and pension liabilities.

It's Game On For Rare Earths In Greenland

Source: Sally Lowder of The Critical Metals Report (8/28/12)http://www.theaureport.com/pub/na/14208Far from icebound, Greenland is wealthy in rare earth elements, precious metals and oil.

Shell to Begin Oil Drilling in Alaska

Royal Dutch Shell has been given an approval by the U.S. government to begin limited oil drilling in Alaska's Chukchi Sea. Shell had been waiting long for the approval, which kept it from tapping Arctic oil.

Australian Stock Market Report – Afternoon 9/4/2012

The Australian sharemarket lost ground for the first time this week and for the fifth time in seven sessions today. Global markets were subdued last night due to the closure of U.S markets for Labor Day. In fact, it was one of the least eventful sessions in Europe since December last year. The U.K's FTSE index rose 0.82 pct, Germany's DAX edged higher by 0.6 pct and France's CAC40 gained by 1.19 pct. Locally, the All Ordinaries Index (XAO) slid by 0.6 pct or 26 pts to 4325.6.

Australian Stock Market Report – Midday 9/4/2012

The local share market is slightly lower mid-session, with no clear direction for investors after US markets were closed overnight for the Labor Day holiday. Base metals prices however rallied in London trade as weak Chinese and European manufacturing data prompted hopes that central banks across the globe will take action to boost economic growth. At lunchtime in the East, the All Ordinaries Index (XAO) is down 16.1pts or 0.4pct to 4355.5.

Uranium And A Long, Dry August

By Andrew NelsonOne thing is for certain, there was a lot more activity in the uranium spot market in August than there was in July.

Union Resumes Blockade of Grocon Work Site

The rejection by Australian building firm Grocon of a compromise offer from the Construction, Forestry, Mining and Energy Union (CFMEU) has led to the return on Monday evening of the blockade at the Emporium construction site in Melbourne.

The Overnight Report: Manufacturing A Response

By Greg PeelUS markets were closed last night for the Labor Day holiday. The long weekend signals the end of the summer break and brokers are hopeful of a pick-up in volumes from here as traders return just in time for supposed central bank action.

Etihad Hikes Ownership In Virgin Australia

Two months after it acquired a 4 per cent controlling stake in Virgin Australia Holdings, Abu Dhabi's flagship carrier Etihad Airways on Sunday announced this has been increased to 10 per cent, even as it reiterated it will not push for a majority stake ownership in Australia's second-largest airline.

Nestle to Increase Baby Food, Healthcare R&D in Switzerland

Nestle, one of the largest food companies in the world, has extended its Product Technology Centre situated in Konolfingen, Switzerland in order to increase its research and development. The extension is likely to help Nestle enhance the company's innovative equipment for the purpose of new goods development and employ these for the international operations of the company.

The Hurricane Whisperer

The Powers that Be are hunkered down in Jackson Hole for their annual international central banking symposium, a jaw-gabbing event where the world's "brightest" economists get together to come up with the world's dumbest "solutions"...solutions to problems largely caused by their last round of "solutions."

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