BUSINESS

Fitch Downgrades 3 Aussie Banks

Fitch Ratings downgraded over the weekend the AA credit ratings by one notch of three large Australian banks. As a result the long-term issue default rating of Commonwealth Bank, Westpac and National Australia Bank is now AA- which reflects their weaker funding profile.

Holden Seeks $250 Million Government Assistance

For car maker Holden to maintain its two-model manufacturing facility in Adelaide, the firm needs $250 million assistance from the government, Holden Chairman and Chief Executive Mike Devereux said on Sunday.
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Dell's New Ultrabook

Dell just unveiled the company's first ultrabook called the XPS 13. Dell also announced that they would begin shipping the company’s ultrabook to U.S. and Canada stores by next week.

Australian Stock Market Report - Afternoon 2/24/2012

The Australian share market edged out a win for the final trading session of the week, boosted by positive signs on the US labour market. The number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008, giving US stocks a boost. The All Ordinaries Index (XAO) today gained 21.5pts or 0.5pct to 4389, and was up 2.7pct on the week.

Australian Stock Market Report - Midday 2/24/2012

The Australian share market is slightly higher in early trade, following modest gains on Wall Street overnight. US investors were encouraged by a report showing the number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008. At lunchtime in the East, the All Ordinaries Index (XAO) is up 12pts or 0.3pct to 4379.6.

Your Editor On Twitter

Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.

Is It A Good Time To Invest In Stocks?

By Alexander GreenMore than two thousand years ago, the Greek sage and philosopher Epictetus counseled, "It is impossible for anyone to begin to learn what he thinks he already knows.

Santos Admits Environmental Errors in CSG Operation

Santos, a coal seam gas (CSG) mining company in Australia, admitted committing environmental errors in its Pilliga East State Forest operations. In a report to the New South Wales government which contained a review of its drilling operation, Santos said there were many instances of pollution, including leaks and spills, that were reported.

Australian Stock Market Report - Midday 2/23/2012

The Australian share market is trading lower at lunchtime in the East, following an unconvincing lead from offshore markets and due to a lack of major economic data to guide investor sentiment. The All Ordinaries Index (XAO) is down 19.2pts or 0.4pct to 4352.9.

Crescent Wealth Partners with Islamic Fund Manager Saturna Capital

Crescent Wealth, Australia's first Islamic wealth manager, announced on Thursday that it has entered into an agreement with Saturna Sdn Bhd (a wholly-owned subsidiary of US based Saturna Capital) to act as the portfolio manager to the Crescent International Equity Fund to be launched later this year.

NZ Dollar Drops Following Greek Bailout

The New Zealand dollar fell after European Union finance ministers handed Greece a 130 billion euro lifeline to avoid bankruptcy in March, the New Zealand Herald reported.

4G LTE Phones Expected at MWC

The Mobile World Congress is kicking off in a week and most of the buzz about the new mobile devices center on which companies are announcing 4G LTE devices. LTE technology is set to overtake 3.5G as the dominant category in wireless infrastructure so mobile phone manufacturers are racing to provide phones that support 4G LTE technology.

Minerals Council of Australia Supports Mining Tax

The Minerals Council of Australia is supporting the minerals resource rent tax. Mitch Hooke, chief of the council, told a Senate hearing in Canberra on Tuesday that the proposed 30 per cent tax on profits of large coal and iron producers is workable.

Australian Stock Market Report - Midday 2/22/2012

The Australian share market is trading flat in the early session, after US and European share markets failed to rally overnight, despite Eurozone officials approving the second Greek bailout deal. At lunchtime in the East, the All Ordinaries Index (XAO) is lower by 4.2pts or 0.1pct to 4364.

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