BUSINESS

Gas Assets of UK to be Bought by Li Ka-Shing of Hong Kong

Hong Kong based billionaire Mr. Li Ka-shing, who controls a group of companies, has agreed on buying a UK based Gas Company named Wales and West Utilities. The agreement has been settled for 645 million pounds or 1 billion dollars. This latest acquisition by the tycoon will greatly boost his gas portfolio in Britain.

Queensland, NSW Dairy Farmers Urge Boycott of Coles, Woolworths Branded Milk

Dairy farmers from Queensland and New South Wales (NSW) are not taking the sides of either Coles or Woolworths in the two supermarket giants' price war. They instead urged on Sunday the boycott of the two supermarkets' branded milk at the ongoing Ekka, Queensland's largest public event which attracts over 400,000 visitors.
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House Prices in Hong Kong are Cooling

Following government measures to slow speculation, Hong Kong residential property prices rose only 6.7% (2.39% in real terms) during the year to May 2012, according to the Ratings and Valuation Department (RVD). In June 2012, home sales volumes were 34.9% down on the same period last year.

New Job Openings Added by US Economy

If official facts and figures are to be believed, the U.S. economy was able to add an additional 163,000 employment opportunities during the month of July, noticeably exceeding the numbers speculated upon by the analysts.

Australian Stock Market Report – Midday 8/10/2012

The local share market is trading lower at lunchtime in the East, following a mixed finish on Wall Street and weakness in financial stocks. The All Ordinaries Index (XAO) is down 14.1pts or 0.3pct to 4316 at midday in the East.

Starbucks-Square Alliance Worth $25M

Square, the mobile payments start-up, would create an alliance with the Starbucks Coffee Company. The partnership will enable mobile payments at the company's 7000 U.S. stores. Starbucks will invest $25 million as a part of Square's Series D financing round. Moreover Howard Schultz, the Starbucks' CEO, will join Square's board of directors.

Heineken attempts to acquire Singapore-based Tiger Brewer

The tug-of-war over the control for Tiger Brewer which is a group of 24 brewery units in Asia and a profitable soft drinks company should finally come to a head as Fraser and Neave have been brought in to consider a takeover bid by Heineken.

Coco-Cola Reorganizes its Structure

Coca-Cola Co. has announced a reorganization of its operating structure around main units. The remodeling is necessary to better address the changing demands of Coca-Cola's marketplace.

Australian Stock Market Report – Afternoon 8/9/2012

The Australian share market was on track to post a fourth consecutive session of gains today, however those gains evaporated late in trade after Chinese industrial output and retail trade figures for July came in lower than expected. By close the All Ordinaries Index (XAO) was lower by 2.8pts or 0.1pct to 4330.1, after reaching an intra-day high of 4350.

Double Whammy Hits Qantas Workers

It was a bad day for Qantas workers on Wednesday as Chief Executive Alan Joyce announced the loss of 2,800 jobs and Fair Work Australia (FWA) ruled in favour of the air carrier in its long-standing labour row with the Transport Workers Union (TWU).

Olympics and Economics: Why the Double Standard?

Why do people love competition so much in the field and in the pool, but fear and hate it in the business world? The analogies between Olympic fare and life in a free market are very close, closer than people realize. Yet we celebrate competition in one sector and try to ban the other.

Rio Says All The Right Things

Greg PeelA check of FNArena's Broker Call archive shows that on the 1st of September, 2010, BA-Merrill Lynch upgraded Rio Tinto ((RIO)) to Buy.

Australian Stock Market Report – Afternoon 8/8/2012

Local stocks closed higher for the third consecutive session today, boosted by hopes the European Central Bank will soon engage in government bond buying, delivering stimulus to the global economy. European shares rose to fresh four month highs overnight, while US shares also rose in thin trade. By close on the Australian share market, the broader All Ordinaries Index (XAO) had risen by 21.5pts or 0.5pct to 4332.9.

Samsung Pushes out the Galaxy Note 10.1 in Germany, UAE

Samsung has officially rolled out the Galaxy Note 10.1 but Australia may have wait a little bit more on the device as the Asian tech giant said only consumers in Germany and the United Arab Emirates will get their hands on the new product.

Barrick Gold Backs Australia’s Mining Tax

While Australian mining firms and the political Opposition have been crapping about the mining tax, Barrick Gold Corporation backed the Gillard government's mineral resources rent tax (MRRT) and carbon tax.

Australian Stock Market Report – Midday 8/8/2012

Overnight European and the US markets continued to mount solid gains as expectations increase over new central bank intervention in the markets. Concerns over global oil supply pushed oil prices higher and US banking stocks lifted. Shares in UK banking group Standard Chartered fell over 23% after New York banking regulators accused Standard of helping Iran avoid sanctions by concealing US$250 billion worth of transactions over the last 10 years. Standard management said the allegations were inco...

Strong Aussie Good Sign For Commodities, Shares

FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons starts his discourse talking about the Friday just passed and how it was a pivotal day that could turn into a key event day.

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