Australian Banks on the Run
Australian Banks on the Run
Australian Stock Market Report – Midday 8/16/2012
Local stocks are trading higher at lunchtime, following a mixed lead from overseas market and commodity prices. The European markets closed lower on growth concerns and rumours percolating around the markets that Spain is preparing to ask for an official bailout. The US markets were again mixed after stronger than expected US economic data have raised more doubts that the Federal Reserve will hold off from easing at its next policy meeting.
Manufacturing Taskforce Submits Over 40 Recommendations to PM Gillard
A taskforce made up of trade unions and manufacturers submitted on Thursday its report to Prime Minister Julia Gillard containing more than 40 recommendations.
Apple, Samsung Urged by U.S. Judge to Talk out Patent Disputes One Last Time
It’s best for Apple and Samsung chiefs to sit down and attempt to reach an agreement before a trial jury deliberates on their legal disputes, a U.S. court presiding over the two’s patent contest said on Wednesday.
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$7.1 Billion CBA Figure Highlights Profitability of Aussie Banks
Commonwealth Bank of Australia (CBA) customers would likely find it harder to accept the bank's explanation that following Reserve Bank of Australia's (RBA) overnight cash rate decisions could threaten its profitability.
The Overnight Report: Lots Of Data, No One Home
By Greg PeelThe Dow dropped 7 points, the S&P was up 0.1% to 1405 and the Nasdaq gained 0.5%.It is looking increasingly likely the Fed will not need to provide additional stimulus in any big way in September.
Australian Stock Market Report – Afternoon 8/15/2012
The Australian sharemarket eased a touch for the first time this week, with the All Ordinaries Index (XAO) falling 0.2 pct or 10.4 pts to 4307. The mining sector was the biggest drag on trade, with the S**9**P/ASX 200 Materials index slumping by 1.35 pct or 131.2 pts to 9620.7.
Etihad Airways Chief Outlines Australian Business Thrust
Etihad Airways is aggressively on the roll and its Australian CEO, James Hogan, declared on Wednesday that following its substantial holdings acquisitions on Virgin Australia and three other carriers in Europe, the airline is looking for more.
HP, Toshiba Opts out of Windows RT Tablet Launch
Two prominent Microsoft OEM partners have expressed plans not to join the Windows RT tablet bandwagon, not yet at least, reportedly to focus their efforts on the more powerful Windows 8 slate that will hit the market in the early months of 2013.
Australia Rolls Out Body Scanning Equipment in Airports Starting November
International frequent travellers might as well start to practice the feeling of being bodily scanned by a $230,000 worth security machine as Australia starts to roll-out those humongous equipment effective November 2012 in all its international airports.
Australian Stock Market Report – Midday 8/15/2012
Local stocks are trading in the red at lunchtime, following an unconvincing offshore lead and mixed commodity prices. A report showing the Eurozone economy shrank in the second quarter met expectations, and European shares rose in thin trade, however US markets were again mixed as were commodities. At midday in the East, the All Ordinaries Index (XAO) is down 22.5pts or 0.5pct to 4294.9.
Florida Regulator Orders QBE Insurance to Cut Premiums by 1/3
The Office of Insurance Regulation in Florida ordered Praetorian, the subsidiary of Australian insurer QBE Insurance, to cut its home insurance premiums by one-third. QBE actually offered to reduce its rates by 2.2 per cent, but Commissioner Kevin McCarty asked the insurer to cut it by at least 35 per cent.
Brazil's Three Biggest Telecoms Forced to Upgrade for World Cup, Olympics
Three of Brazil's largest telecommunication companies will have to spend more than $9.8 billion to upgrade their internet and mobile access services ahead of the upcoming football World Cup in 2014, reported the Financial Times on Monday, after the Brazilian government threatened to punish the companies unless they did so.
France, Germany Outperforms Expected Slow Down
The German and French economies showed signs of resilience as the two eurozone countries performed slighter better than expected.
Groupon Inc. Shares Dropped on Revenue Miss
Groupon Inc., online shopping giant, on Monday published its quarterly profit as its shares dropped by nearly 20 percent due to revenue miss and investors' concern over growth in the next months.
How An AUD Reversal Could Save The World
FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons looks at the AUD rally, discusses a steadier run for the euro, prognosticates on a few market indices futures and soy beans, among many other things.
High Court Hears ANZ Class Action Suit on Excessive Bank Fees
Lawyers of the largest class action lawsuit in Australia told the High Court on Tuesday that ANZ bank charged customers with excessive bank fees for overdrawing their accounts.
Digital Sales for EA on the Rise, Expected to Cross Boxed Games
Game developers Electronic Arts anticipate profits derived from the digital downloads of their games to overtake the sales of physical gaming software within the span of a couple of years and according to their chief operating officer, the company is now directing its attention towards increasing its range of products meant for mobile and free-to-play.
Aussie Banks to Cut Reliance on Wholesale Funding, Focus on Deposits
A National Australia Bank (NAB) official said on Tuesday that in the next few years, Australian banks would rely less on wholesale funding and instead focus on deposits as the main source of their lending operations.
The Overnight Report: Strong Data Confuses The Street
By Greg PeelThe Dow closed up 2 points, the S&P was flat at 1403 and the Nasdaq slipped 0.2%.The US economy is consumer-driven, hence data on consumer spending are an important indicator of the health of the US economy.
Aussie Importer May Recall 25,000 Made-in-China Cars Over Asbestos Fibre Content
Despite China being a major manufacturing hub and the second largest economy, the desultory Made-in-China tag continues to hound the Asian giant. Ateco Automotive, the Australian importer of made-in-China vehicles, could recall 25,000 Great Wall and Chery brand vehicles over its asbestos fibre contents in the car's engine and exhaust gasket.
Brisbane Questions Higher Ranking of Other Aussie Cities in Global Liveability Survey
Four Australian cities landed on top 10 list by the Economist Intelligence Unit of the Global Liveability Survey of 140 worldwide cities. However, Brisbane officials are questioning the survey because the city is only 20th on the list below Melbourne, Adelaide, Sydney and Perth.
Australian Stock Market Report – Afternoon 8/14/2012
Local stocks managed a small win today, despite a negative lead from the US Dow Jones Index and as European shares eased from four month highs. Defensive stocks led the gains locally, with the All Ordinaries Index (XAO) adding 7.9pts or 0.2pct by close to finish at 4317.
Australian Stock Market Report – Midday 8/14/2012
The Australian sharemarket is improving for the second straight day, despite a weaker start to trade this morning. The All Ordinaries Index (XAO) is up 0.2 pct or 8.1 pts to 4317.6 at lunch. Most sectors are gaining modest ground, with the exception of the miners and financials.
Google Tweaks Motorola’s Business Focus, Eyes Enhanced Smartphone Thrust
Google has commenced reengineering efforts on Motorola Mobility, signalling serious intents on the part of the tech giant to turnaround at the soonest possible time an ailing firm it bought for more than $12 billion in May this year.
Avoiding An Italian Bailout: Why And How
By Prof. Francesco GiavazziSpain looks set to turn to the EFSF for a formal bailout subject to stringent conditionality.
ING Direct Launches New TV Ad Featuring Male Bums
Along with the return of its chief executive, ING Direct launched on Monday a new TV advertisement that features male backside as its catch-on.
Another BHP Project On Ice?
By Greg PeelBHP Billiton ((BHP)) is currently reviewing its portfolio of large scale capex projects intended to carry the company into the future.
ASIC Runs After Insider Traders
The Australian Securities and Investment Commission (ASIC) is making renewed efforts against insider trading by launching a number of cases involved leaked information during the merger and acquisition phase of businesses.
Spot Uranium Slips Further
By Andrew NelsonLast week was yet another slow and fairly uneventful week on the uranium spot market. Volumes were thin, transactions were few, and the spot price slipped a little more after a seller cracked under the weight and gave in to a lower bid.
Slight Rise in Number of SMEs with Web Sites, But Online Activity Down 7%
Although small- and medium-enterprises (SME) in Australia are recognising the inevitable need to have online presence, their actual online activity leaves much to be desired.
Your Six Step Guide to Global Instability
When you're at school, history is just a bunch of stuff that's already happened. When you enter the real world (after university) history becomes rather useful.
A Lesson in Modern Economic Management
Do you feel that in the air? It's the rustling of politicians all over the world, ready to meddle. It's coming. They've been pretty quiet over the North American summer. But that's probably about to change. The task of today's Daily Reckoning is to figure out what kind of change...and whether it's the kind of change you embrace...or flee with monster truck force.
Japan’s Debt: A Small Taste of the Coming Financial Implosion
Housewives With Frying Pans Protest Japan Tax Hike as Debt SoarsAbout 200 housewives marched down a shopping street in central Tokyo, beating pans with ladles and shouting slogans criticizing a government plan to double Japan's 5 percent consumption tax.
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