BUSINESS

Macquarie Group reported on Friday profit shortfalls of 24 percent in fiscal 2012, underscoring cost-cutting measures that have so far resulted in the separation of more than a thousand workers from the company.

Despite positive moves on US and European markets overnight, the Australian share market is showing no great signs of momentum at lunchtime in the East. Profit downgrades and a fall in earnings from Macquarie Group (MQG) has weighed on investor sentiment, with the All Ordinaries Index (XAO) flat at 4444.1.

Swedish house prices have fallen slightly since the peak in Q1 2010. During 2011 they fell by 2.7% (4.89% in real terms) to an average price of SEK 1,969,000 (€221,316), according to Statistics Sweden.

The strike of West Australian farmers against Coles' pricing policy of a $1 reduction per litre of milk was averted by a meeting of the producers with the supermarket giant this week.

Retirement was something you were supposed to have sorted out by now. Superannuation was something that was going to help you do it. And the age you tell your boss, or your employees, 'I quit' was something you were supposed to have your eye on.

The Reserve Bank at its last meeting seemed to be finally coming around to this view, but preferred to wait for the release of March quarter inflation data.

There's still a lot of growth left in Apple, despite the break out results for the company's second quarter reported this week.

Despite Europe's woes, world steel production has recovered and hit an all time monthly high in March of 132.2 million tonnes.

The Rail, Tram and Bus Union (RTBU) expressed on Friday its opposition to plans for the relaxation of fatigue standards for train drivers in New South Wales from the current 12-hour maximum.

By Peter Switzer, Switzer Super ReportWe had a potential financial planning client who only had $6 million to invest around August last year and while many of us would have loved to be him, he once had $20 million!That's why he came to see us, but because he was so pessimistic after reading a w...

We love the kids, don’t we? But Harli Jordean, the 8 year old kid, soon to be 9, is just too cute. Harli Jordean was born in Stoke Newington, London in spring 2003.

Media stocks will to come under renewed downward pressure today after surprise earnings downgrades from Seven West Media and PMP late Tuesday.

Interest rates will fall next week after the lowest inflation figures for some time in the March quarter took the market by surprise.

The US Federal Reserve's latest monetary policy meeting overnight won't alter the way the US economy completes 2012.

Although the influx of foreign visitors to Australia could slow down in financial year 2012, the tourism industry's value would climb by $100 billion by year-end, the Tourism Forecasting Committee said.

By Greg PeelThe Dow rose 113 points or 0.9% while the S&P gained 0.7% to 1400 and the Nasdaq added 0.7%.

St George Bank assured on Friday its employees that no one would lose their jobs amid reports that the subsidiary of Westpac is planning to outsource 200 IT jobs to IBM.

Australian beef exports may benefit from reports of a mad-cow disease in the U.S., according to the Australian Beef Association. The reported case of mad-cow disease in the U.S. may prompt Japan and South Korea to increase its demand from Australia, said the industry group.

Rio Tinto and Chinalco's listed subsidiary, Chalco, have completed the formation of their joint venture (JV) to develop and operate the Simandou iron ore project in Guinea, following the completion of all Chinese regulatory approvals. As a result, a consortium led by Chalco has made an earn-in payment of US$1.35 billion, in line with an agreement reached with Rio Tinto in March 2010.

Apple must train its sight to the East, experts said, if it wishes to sustain its record-breaking results and deflect predictions that the tech titan would falter sooner or later minus the introduction of innovative products, which marked the reign of Steve Jobs.

Australian borrowers gravitated more on securing fixed mortgage packages, according to a new report, because they deem the rates more stable at the moment, with lenders offering more premium with the product.

Atlas Iron and QR National launched on Thursday the $3.5-billion Pilbara railway through the start of a feasibility study to build the 600-kilometre multi-user rail link to transport iron ore from the east and southeast Pilbara to shipment facilities at Port Hedland.

While recent statistics indicate the Reserve Bank of Australia (RBA) would likely cut the overnight cash rate when it meets in May, any rate cut would hardly benefit Australian mortgage customers.

Justice finally caught up with the U.S. subsidiary of Lend Lease Construction, an Australian firm, over a 10-year overbilling fraud. A U.S. court in Brooklyn fined the company $58 million in fines and restitution to victims.

By Greg PeelGiven yesterday's holiday in Australia we've had two overnight sessions since the local market closed.

Robots could soon assume the role of miners but they will not be harvesting minerals from the depths of the earth, instead they will be transported into space, where they will be deployed to explore the hundreds of asteroids that regularly pass near our planet.

A senior United Nations official has said that criminality is one of the biggest economies in the world.

Another month of contraction for Chinese manufacturing, but the chances of so-called soft landing for the economy have been reinforced by the latest flash estimate on sentiment from the sector for April.

HTC, the Taiwanese-based smartphone manufacturer recently announced the release of the newest Android smartphone called HTC One S and many experts are stating that this is one of the best Android smartphones released by the company.