Peter Switzer: A rate cut is coming, but will the banks follow?
By Peter Switzer, Switzer Super ReportLast year the economy grew at a 2.6% pace, well below the 3%-plus rate expected by Treasury and the Reserve Bank.
Feature: Bonds: Boom, Boom, Bubble?
Who would have thought the US could get to a position where it could even think of getting investors to pay the government to lend it money.
Retail: Coles Beating Woolies
Its 25 years since the turnaround at Woolworths was kicked off by retailing legend Paul Simons who decided to use the phrase: 'The fresh food people" to tag the struggling retailer to make it different from the then dominant Coles Myer.It worked, kick starting a comeback from Woolies that is part of Australian corporate lore as Simons' successors, especially Roger Corbett revamped not only the retailer, but the entire supermarkets business by chasing gains from suppliers to stores.
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Trade: Surplus Up, But Better Than Expected
Trade data out yesterday for December, the second quarter and the first six months of the 2011-12 financial year put the lie to suggestions that our minerals boom has been derailed or is sagging as a result of the drop in iron ore and coal prices late last year.
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Mixed PMI Results for Key Economies in January Lead to Global Manufacturing Surge
Global productivity generally spiked in the first month of 2011 amidst the lingering financial woes battering much of Euro economies and the slowdown predicted by economists to hound China this year.
Coles Sales for December Quarter Hits $9.4 Billion
The battle between retail giants Coles and Woolworths went up a higher level beyond grocery aisles into company books. On Thursday, Coles reported a 6.7 per cent hike in its December quarter sales which hit $9.4 billion.
Australia Slaughters Thousands of Ducks to Contain the Avian Flu Virus
Australian authorities have ordered on Wednesday the destruction of some 24,000 ducks in Victoria to contain the spread of the avian flu detected in the southern region of the country.
Bank Fees Class Action Lawsuit Expands, May Target More Lenders
The bank fee class action lawsuit filed by Australians has expanded with the complainants now questioning $216 million exception fees collected by the lenders.
Report: Nokia Hints of 'Prettier' Handsets with More Wireless Functions
The new generation of Nokia smartphones have been envisioned to tread more on the path of aesthetics.
Job Cuts Loom in BHP, Holden, Manildra, Reckitt Benckiser
The worsening unemployment forecast feared in Australia as a result of another round of global crisis appears to be unfolding as early as the second month of 2012.
Holden Revises Elizabeth Production Shift, Admits Impending Job Cuts
Holden announced on Thursday the immediate implementation of new measures that it said will allow the carmaker to sustain its current production capability while bringing down costs at the same time.
Australian Institute Urges Annuities Reform for Retirees, National Insurance Pool for Flood Areas
The Federal Government is urged by the Actuaries Institute in its pre-budget submission to address two national priorities in the coming Budget: removing barriers to allow ageing Australia to better prepare for retirement with realistic annuity options; and creating a temporary national insurance pool for high flood-risk properties.
Are China And India Converging?
By Ejaz Ghani, Economic Advisor at the World BankMention China and India to economists and their first thought will be rapid growth.
iPhone Topped Android in Holiday Sales
Apple's iPhone could extend its holiday cheer as recent figures show that it was the highest selling smartphone in the market for the last holiday season.
Foxconn Hiring Spree: iPhone 5 Production Looms?
Consumer electronics company Foxconn wished to double the size of its manpower in its branch in Zhengzhou, China. Is the hiring spree due to the launching of the iPhone 5?
Dick Smith to Close Stores in Australia and New Zealand
Electronics retailer Dick Smith could wind up significantly cutting underperforming sites among 66 New Zealand stores in Australia and New Zealand, according to an analyst.
Melbourne Bus Company Gives $15 Million Bonus After Business Sale
For some, it’s like winning the lottery. Workers at Melbourne-based Grenda bus company were surprised to receive bonuses reaching up to $30,000 after the company owners sold off its transit operations and allocated $15 million to its loyal staff.
The Overnight Report: Manufacturing A Rally
By Greg PeelThe Dow closed up 83 points or 0.7% while the S&P gained 0.9% to 1324 and the Nasdaq added 1.
Global Markets Overview - 2 February 2012
FROM MORRISON SECURITIES PTY. LTDU.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.
Housing: 2011 Was A Miserable Year
We've all known that 2011 wasn't a good year for housing or house prices, and this week we have had that confirmed in spades.
Updates: Markets’ Great January, ERA’s Loss, Funtastic Recovers, Boral Quits Indonesia
Australian shares had a very solid month, among the best of major markets and outperformed the US and some European bourses.
Economies: Is China Slowing, Or Growing?
Just as we had mixed news from the Japanese and Australian economies on Tuesday, yesterday we got the same story from China with two surveys of the country's manufacturing sector producing very different results.
Air New Zealand Boss Rob Fyfe Denies Virgin Group Offer
"It's all speculation." Air New Zealand boss Rob Fyfe told of the rumors about his career movement. As he is expected to step down late this year, Fyfe has been reported to have been recruited for a job at Sir Richard Branson's Virgin Group.
2011 Shows Worst Annual Job Growth, Australian Business Confidence Highest in December
Australia saw its worst annual job growth in 19 years in 2011, but December showed the highest rise in business confidence in seven months, according to a National Australia Bank survey. Consumers focused on savings due to growing concern over fiscal problems in the US and Europe, slowing down businesses and putting growth on hold.
Thomson Reuters, Crescent Wealth Launch Islamic Index in Australia
Thomson Reuter and Crescent Wealth launched on Wednesday Australia's first research-based Islamic index. The index aims to provide investors who want to build Islamic-compliant Australian equity portfolios a powerful new tool for benchmarking.
Cattle Export Ban to Indonesia Fails to Dampen AAco Revenue
The temporary ban on cattle export to Indonesia failed to dampen the growth of the Australian Agricultural Company (AAco) which even registered a 40 per cent improvement performance that led into a $10.5 million net profit.
German Court Sustains Galaxy Ban, Samsung Faces Antitrust Probe
Samsung's Galaxy Tab 10.1 and Galaxy Tab 8.9 will not hit the German market after all following an appeal court decision on Tuesday, finding the South Korean tech giant in clear violation of unfair competition laws.
Manufacturing Rises in January but Global Woes Limit Growth
Australian manufacturers have been experiencing growth over the past two months but analysts said the jumps were too minimal and barely out of the contraction level.
Moody’s Downgrades Qantas Credit Rating
Australian flag carrier Qantas was dealt another blow on Tuesday when rating agency Moody's Investors Service downgraded the air carrier's credit rating to Baa3 from Baa2. Moody's explained the cut in long-term senior unsecured rating of Qantas to expectations of ongoing pressure on the company's credit profile.
Coles, Woolies Price War Leads MPs to Seek Overhaul of Australia’s Competition Law
The ongoing price war between Australian supermarket giants Coles and Woolworths has led some MPs to seek a major amendment to the country's competition law. The legislators warned that the short-term benefits shoppers get from a 50 per cent price reduction on fruits and vegetables sold by Coles could mean disaster for the agriculture sector.
Gina Rinehart Seeking Stake in Fairfax
Australia's interest in Gina Rinehart, the nation's richest woman, continues to be fueled following her soon-to-be-completed acquisition of shares in Fairfax Media. Ms Rinehart, whose personal wealth is valued at $10.3 billion, wants a biiger piece in Australia's most influential media company.
February favours Emerging Markets, And Aluminium
- Emerging markets historically the best equity performers in February- Aluminium the best of the commodities, natural gas the worst- USD likely to struggle against the yen this month- Tough month for some Australian and US bondsBy Chris ShawEmerging markets tend to be the pick of equity markets in ...
Thailand, China Endorse Twitter’s Ability to Censor by Country. Will Others Follow?
The Kingdom of Thailand has agreed to Twitter's recent move to allow countries to censor tweets. Representatives from the Thai government of Prime Minister Yingluck Shinawatra have said that they will be working with Twitter to implement this new policy.
Samsung Confirms Galaxy S Advanced Specs and Images
While the rest of the tech world is buzzing about the rumored Galaxy S III model that is reportedly being revealed at next month's Mobile World Congress, Samsung went ahead and revealed a new model of the Galaxy S called the Galaxy S Advance.
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