More Writedowns Likely for BHP
The $3.15 billion writedowns in BHP Billiton's (ASX: BHP) shale gas and nickel operations which caused the firm's chief executive to forego his bonus may not be the last for the mining giant.
Lamp Going Out For Lynas
By Greg PeelAs recent FNArena articles on the subject of the rare earth metals space have noted, the global race to compete with China on rare earth element (REE) production has now come down to a mere handful of names including two stand-outs, and a big chunk of daylight to third.
Australian Stock Market Report – Afternoon 8/3/2012
Disappointment was the theme of the trading day, after European Central Bank chief Mario Draghi last night missed his opportunity to become Super Mario. Despite bold commentary late last week, the ECB took no firm action to inject more stimulus into the global economy. The ECB instead left its refi rate unchanged at 0.75pct, with the Bank of England also leaving rates on hold at 0.5pct. The disappointment caused US and European investors to sell out of equities last night and the same occurred h...
ATSB Report: No Clue yet on Qantas’ QF2 Engine Failure in Bangkok
The Australian Transport Safety Bureau (ATSB) said on Friday that its probe on the near-fatal engine breakdown of Qantas Airways’ QF2 over Bangkok, Thailand in October 2011 still faces a blank wall.
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London Olympics: Where, oh Where Have We Gone Wrong?
Looks like the Australian 2012 Olympic team could be receiving a mind-blowing, hard-knock whipping once it gets back home. After six days of competition, the delegation has yet to add another gold to uplift its tarnished honor.
Facebook Flags Serious Concerns over 'Dodgy', Phony Accounts as it Nears One Billion User Mark
Facebook delivered some good news this week: its active users’ total roll is nearing the one billion mark, specifically some 955 million members worldwide as of the end of June 2012, in the process proving the wide-reach of the hugely popular social networking site.
The Way Forward For The Major Portals + E-Ave Wrap-Up
On Yesterday’s Electric Avenue Show – I shared an insight into what I see as ‘The Way Forward For The Major Real Estate Portals’ + A FREE Tool for Real Estate Agents who are looking to Building Their Online Profile (newly released via one of the major portals).
China’s Economy – How the Devil is in the Detail
According to the latest manufacturing data on China, the Chinese economy actually recovered slightly from last month, thanks to a renewed burst of bank lending and a directive from the top to fast track projects and 'build stuff'. But the devil is in the detail for China.
Administrator Closes 32 of Darrell Lea Candy Stores
The administrator of candy retailer Darrell Lea said on Thursday that it will shutter 32 out of 66 outlets which are losing money. The move would cause about 200 store workers to lose their jobs.
Turkish Imports Threaten Tasmania’s Medical Opium Market
There is a looming war between poppy growers in Tasmania and Turkey. However, it is not similar to drug battles fought in Columbia, Mexico or other illegal drug-producing areas.
The Overnight Report: Zip
By Greg PeelThe Dow closed down 92 points or 0.7% while the S&P lost 0.7% to 1365 and the Nasdaq fell 0.
Retail Sector Grows Anew in June, Exceeds Market Forecasts
Buoyed by the lower cash rates imposed by the Reserve Bank since the start of 2012 and a generally robust economy, Australian households ramped up their spending in June that led to retail sales jumping by 1.4 per cent in the month.
Australian Stock Market Report – Afternoon 8/2/2012
The Australian sharemarket edged higher today for the fifth time in six sessions. The All Ordinaries Index (XAO) rose by just 0.2 pct or 7.4 pts to 4290.1, receiving a boost by some better than expected economic news earlier in the day. Despite the gains, investors still seemed cautious to overcommit to markets ahead of the all-important European Central Bank (ECB) meeting tonight. ECB President, Mario Draghi last week hinted at stimulus and now has much to live up to.
Australian Stock Market Report – Midday 8/2/2012
The Australian share market lost some ground for the first time in five trading sessions yesterday. Overnight most European markets moved higher as investors positioned themselves ahead of the European Central Bank (EBC) meeting tonight. US markets were only slightly lower before the outcomes of the 2 day meeting of the US Federal Reserve (FED RES) were revealed. Unfortunately the FED RES did not give investors what they were expecting. The views of the Fed members were in line with our current ...
London Olympics: Australian Swimmer “Missile” Magnussen Loses Gold Bid
"It hurts," was all that James "The Missile" Magnussen could muster of his defeat to American swimmer Nathan Adrian who outdid him in the pool by a fingernail and one-hundredth of a second in the 100 metres freestyle final event of the 2012 London Olympics.
Microsoft: Dirty Works All Done for Windows 8, Gears for Full Oct Launch
The official countdown begins as Microsoft said on Wednesday that its numerous tinkering and testing on the new Windows 8 and Windows RT have been completed.
Australia Exports $216M Worth of Water in Past 5 Years Despite Drought in Some Parts
Despite the drought in different parts of the country, Australia still managed to export in the last five years $216 million worth of water. Data from the Department of Foreign Affairs and Trade (DFAT) said the water exports were made up of natural, mineral, aerated, flavoured and sugared water, snow and ice.
HSU President Michael Williamson Quits; National Secretary Kathy Jackson Expected to Follow
Major changes were made in Australia's union movement after the president of the scandal-rocked Health Services Union (HSU) resigned on Wednesday. To make his departure from the union more dramatic, HSU President Michael Williamson quit via a text message.
The Overnight Report: Bernanke Unmoved, Bring On Draghi
By Greg PeelThe Dow closed down 32 points or 0.3% while the S&P lost 0.3% to 1375 and the Nasdaq fell 0.
Australian Stock Market Report – Afternoon 8/1/2012
The Australian sharemarket lost some ground for the first time in five trading sessions today. The All Ordinaries Index (XAO) eased by 0.2 pct or 6.7 pts to 4282.7. Two worse than expected economic reports issued in China kept the market in negative ground for much of the day.
London Olympics: Will Australia’s Medal Tally Go Beyond 6?
After four days of stiff and neck and neck competition in the 2012 London Olympics, Australia's total medal tally has so far reached six - one gold, three silver and two bronze. Australia's standing is in the 12th place on the medal tally.
The Australian Economy: A Case Study in Weirdness
In Australia it looks like we're doing more sinking than swimming...and we're not just talking about the Olympics.
In Australia It Looks Like We're Doing More Sinking Than Swimming...And We're Not Just Talking About the Olympics
Money, although most people don't view it as such, is technology.
Australian Stock Market Report – Midday 8/1/2012
We saw a big turnaround in market sentiment overnight. The excitement of more central banks stimulus was washed away by end of month trading and concern over weak employment and sales numbers out of Europe. European markets are still awaiting the outcome of The European Central Bank (EBC) meeting on Thursday. Overnight the news that the, 17 nation, Eurozone saw its unemployment rate climb to a new Euro-era high of 11.2% hit the markets hard.
Microsoft’s Rebranding Efforts Morph Hotmail to Outlook
Microsoft has unveiled plans to retire its Web-based e-mail service Hotmail, replacing it with the social media-integrated Outlook that is currently in preview play and readily accessible to millions of existing Microsoft e-mail patrons around the world.
Roy Hill Iron Ore Project Inks First Sales Deal with Chinese Steelmaker
Roy Hill Holdings, owned by Australia's richest woman Gina Rinehart, signed its first sales contract with a Chinese steelmaker to provide iron ore. Roy Hill inked in Beijing on Thursday the agreement with Shougang Group, one of the largest steel companies in China.
Nuclear, Wind Power are Competitive Energy Alternatives to Coal
Based on an assessment of the cost of generating electricity using 40 different technologies until 2050, a report released on Tuesday identified nuclear and wind power as competitive energy alternatives to coal-fired power.
Rio Tinto Cuts Jobs in Melbourne, Shutters Sydney Office
In an apparent confirmation that Australia's mining sector is moving on a slower lane, mining giant Rio Tinto (ASX: RIO) plans to cut jobs in Melbourne and close an office in Sydney.
Euro And Aussie Up
FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons starts off his commentary on a regularly covered topic, the EUR/USD Weekly chart, pointing out the low reached last week is in an extremely important technical area of a prior weekly...
Tata Steel at the Economic Crossroads
Tata Steel in Europe, which is the second largest steel producer in the continent, utters that there is a growing desperate need for a growth strategy in the U.K. so to overcome the problems in the industry. Dr Karl Kohler, chief executive of Tata Steel in Europe, admitted that he had experienced the toughest time in his 30 years and at the same time he called for the UK to remove the obstacles to economic growth.
Amazon’s Profit Dropping Due to Investments
Amazon.com Inc., a Seattle-based company, reported quarterly results. According to data, Amazon's sales growth had slowed down outside the U.S. and in addition, its profit margins had decreased as the company continued to invest in warehouses so that the delivery speeds would improve in the near future.
The Overnight Report: Doubts Creep In
By Greg PeelThe Dow fell 64 points or 0.5% while the S&P lost 0.4% to 1379 and the Nasdaq dropped 0.2%.
Australian Stock Market Report – Afternoon 7/31/2012
The Australian sharemarket edged higher today for the fourth straight session, following strong gains in European markets overnight. The All Ordinaries Index (XAO) rose by 0.5 pct or 22.5 pts to 4289.4.
Australian Stock Market Report – Midday 7/31/2012
Once again European market rallied higher overnight, ahead of the outcome of The European Central Bank (EBC) meeting on Thursday. Then the market is expecting the ECB will announce new stimulus measures for the European economy. The US markets lost a little ground by the close as investors held back from buying ahead of the outcome of the US Federal Reserve´s 2 day meeting that kicks off later tonight.
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