Diary: The RBA’s Big Week, Australian Earnings And Greece
The focus is likely to remain firmly profits (see the top story) and on interest rates with the Reserve Bank front and centre this week, led by Governor, Glenn Stevens.
Romney's Crash and Burn on the Auto Bailout
The candidate who wanted Detroit to go bankrupt is now trying to win votes in Michigan — as the auto industry's recovery is front-page news. Santorum? He's got the same problem.
The Renminbi's Prospects As A Global Reserve Currency
By Eswar Prasad and Lei YeIs China's currency destined to become the dominant global reserve currency? This column argues that despite not yet having a flexible exchange rate or open capital account, China's government is pursuing 'liberalisation with Chinese characteristics'.
Graphite: Pencil It In
By Richard (Rick) MillsAs a general rule, the most successful man in life is the man who has the best informationSometime between 1500 and 1565 a large graphite deposit was discovered in Cumbria, England.
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Is PS Vita for Hardcore Gaming?
Handheld gaming is facing an uncertain future right now. Casual gamers are flocking to smartphones and tablets for simple touchscreen games foregoing traditional portable devices for the more versatile phones and tables. Sony and Nintendo have been feeling the brunt of this new attitude when their portable game devices have failed to make a mark in the market. Nintendo's 3DS had slow sales that forced the company to slash prices just to move units.
HTC and Beats to Take on Spotify, iTunes
HTC is reportedly launching its own music streaming service with Beats Electronics in an effort to turn the company's flagging fortunes around.
Global Markets Overview 02/17/2012
U.S. equities rose after positive news from the labor and housing markets, then drifted higher on reports of progress toward a second bailout for Greece.
Australia Stock Market- Morning Report 02/17/2012
New claims for unemployment insurance in the US fell by 13,000 to 348,000 in the latest week - the lowest level since March 2008.
Australian Labour Force Update
The Australian Bureau of Statistics recently released an update regarding the labour force status of Australia for Jan. 2012. According to the report, the number of people who are employed increased to around 11 million while the figures for unemployment decreased to 623,700. In terms of unemployment rate, it is still considered as "steady" with 5.2%.
The Overnight Report: Adrenalin Shot?
By Greg PeelThe Dow rose 123 points or 1.0% while the S&P gained 1.1% and the Nasdaq leapt 1.5%.As the sun set on the Asian zone and began to rise in Europe last night the mood was very sombre on heightened expectations that Greek default was now nigh.
Peter Switzer: This will be an OK year for long-term investors
by Peter Switzer, Switzer Super ReportWith the market having the biggest down day for some time, it is timely to ask what the year ahead looks like.
Fears of Job Cuts at Caltex Amid Massive Writedown
Another large company in Australia may axe hundreds of jobs. Employees of the two Caltex refineries at Kurnell in Sydney and Lytton in Brisbane have expressed fear of losing work after the oil firm wrote down $1.5 billion value of its refining assets as it continues to conduct a review of refining future in Australia.
BHP Queensland Coal Mines Hit by Huge Workers’ Strike
Mining activities on seven Queensland coal mine sites owned and operated by BHP Billiton virtually ground to a halt on Wednesday as workers stopped toiling to commence what could become the nation's biggest industrial disruption in years.
Retailing: Now For Some Good News
A busy day for retail-related companies yesterday with Westfield Group leading the way in revealing a US joint venture and asset sales, with asset sales in the UK as well, plus reasonable 12 month results.
Increase in Australia's milk production forecast to continue
Dairy Australia's latest forecast, released today, shows that Australia's milk production is continuing to climb, with total output for 2011-12 forecast to be between 9.4 and 9.5 billion litres, up on last season's total of 9.1 billion litres.
McDonald’s U.S Suppliers Required to Take Action Over Animal Welfare
One of the world's largest fast food chains, McDonald's Corporation, has announced that it will require its U.S. pork suppliers to outline their plans to phase out the use of sow gestation stalls.
Australia’s Unemployment Rate Drops to 5.1% in January Despite Hundreds of Job Cuts
Despite hundreds of jobs axed since the start of 2012 as large Australian firm reported lower profits, the country's unemployment rate actually went down to 5.1 per cent in January from 5.2 per cent in December 2011.
A Brighter Future for Metal Detectors
A chronicle news reporter recently featured a behind-the-scenes look in MetalDetector.com, the first online retailer of Metal Detectors. MetalDetector.com is located at Southborough, Massachusetts and has been around for 30 years. It is currently being managed by brothers Michael and Daniel Berznweig.
Report: Cisco Sues for Revision on Microsoft-Skype Merger
Networking specialist Cisco has decided to mount a challenge on Microsoft's takeover of Skype, lodging an appeal before the European Commission earlier this week.
Westpac Registers $1.5 Billion Quarterly Profit, to Cut Number of Tellers
Westpac reported on Thursday unaudited quarterly profit of $1.5 billion, which is 3 per cent lower compared to the same quarter a year ago of $1.55 billion.
RBA: Mining Boom is Also Boom for Most Australian Industries
Australian reaps more benefits from the ongoing resources boom despite its two-speed effect on the domestic economy.
Banking: CBA Lifts Profit, Dividend, Cuts Costs, Rules Out Job Losses
The Commonwealth Bank says it won't be joining rivals Westpac and ANZ, in cutting jobs as it met guidance yesterday with a cash net profit of $3.567 billion for the six months to December 31, up 7% on the same period of 2010-11.
Foxconn's Shenzhen Plant Wins Initial Praise from Observer
Initial assessment by the chief of the independent labour group reviewing Apple contractors' factories in China portrayed a serene and sane working environment for thousands of Chinese workers tasked to assemble Apple gadgets.
Qantas Cuts 500 Engineering Jobs After 83% Drop in Profit
The labor dispute that has plagued Qantas for months has taken its toll on the air carrier's bottomline. The flag carrier reported on Thursday an 83 per cent decline on its half year net profit which plummeted to $42 million compared to a year ago.
Report: Xstrata Mulls Entry of New Partner on $6-B Wandoan Coal Mining Project
Global mining giant Xstrata reportedly plans to offer part of its stakes on the Australian coal mining project in Wandoan, Queensland, which the Swiss company co-owns with Japanese firms Itochu and Sumitomo.
Angry Birds on Facebook
Facebook users have another reason to celebrate as one of the most-loved games in the world; Angry Birds is now available in the social networking site.
Australian Business Intelligence Software Revenue to Rise
The research firm, Gartner, Inc. recently disclosed that the Australian Business Intelligence (BI) software revenue will grow to at least 11.7% thus reaching an estimated amount of AU$496.4 million in the year 2012. The predicted revenue includes all BI platforms, analytic applications, and corporate performance management (CPM) software.
BOE Shifts Its Stance And Greek Tail Risk Rises
By Kathleen Brooks, Research Director UK EMEA, FOREX.comThere are two forces working on the markets right now: 1, central banks in simulative mode and 2, fragile recoveries and tail risk from Europe.
Apple iPad 3 to be Banned in China?
Apple, Inc.’s (NYSE:AAPL) latest tablet could face customs ban from Chinese authorities after a local firm filed for trademark dispute in the country to stop the exportation and importation of the said device.
The Overnight Report: The Great Unknown
By Greg PeelThe Dow fell 97 points or 0.8% while the S&P fell 0.5% to 1343 and the Nasdaq lost 0.6%.The US Federal Reserve has been adopting a new model of transparency under chairman Ben Bernanke's reign which, aside from Mr Bernanke's four-a-year press conferences, now includes disclosur...
Global Markets Overview - 02/16/2012
U.S. stocks were on pace for their steepest fall of the year, as questions about the latest Greek bailout added to concerns about industrial stocks. The Dow Jones Industrial Average tumbled 111 points, or 0.9%, to 12768, in late Wednesday afternoon, after rising for five out of the past six days.
As Novelty of iPhone 4S Wears Out, Apple Could be Forced to Release iPhone 5
There's no stopping the Apple Inc. express. Apple, the world's top tech company by market value, passed by nemesis and supplier Samsung Electronics to become the world's biggest smartphone vendor in the fourth quarter of 2011.
Singapore: The Easiest Country to Do Business With in the World
A recent report done by Janus Corporate Solutions revealed that Singapore was placed first as the "easiest place to do business in the world". This is in contrary to the results published by Forbes Magazine in their "2011 Best Countries for Business" feature. Despite the difference in results, Janus Corporate Solutions stands firm in their report stating that Singapore is much more superior as compared to Denmark in terms of doing business.
Business Demand for Credit Hits 4-Year Low
Demand among Australian businesses for credit has plummeted to a four-year low, a survey by the National Australia Bank (NAB) showed. Enterprises that required no credit went up to 67 per cent from 64 per cent.
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