After gaining considerable momentum throughout the domestic session yesterday the Australian Dollar traded as high as 0.9878 following strong gains on global equity markets as well as better than expected economic data out of the US.
New claims for unemployment insurance in the US (jobless claims) fell by 37,000 in the latest week to 391,000.
Flag carrier Qantas has warned passengers of possible travel difficulties because of the baggage handler and ground staff strike scheduled for Friday. The airline estimated about 8,000 passengers would be affected as the job walk-off would lead to the cancellation of two flights and delays by up to one hour of 39 flights.
New claims for unemployment insurance in the US (jobless claims) fell by 37,000 in the latest week to 391,000. Economists had tipped a result near 420,000 The US economy grew at a 1.3pct annual pace in the June quarter, up from the previous estimate of 1.0pct. US pending home sales fell by 1.2pct in August. And the Kansas City Fed index rose from +3 to +6 in September.
AFTERNOON REPORT
(4.30pm AEST)The recent rally on the Australian share market came to an abrupt end today, although the losses weren't overly significant or surprising. US and European markets closed in the red overnight, as investors looked to square their books ahead of the end of the month and end of the September quarter. A lack of concrete and decisive action from European leaders also frustrated investors. The Australian market, which has gained around 4.5pct over the past couple o...
Australia’s building and construction industry is asking for major reforms in two key areas of the Australian taxation system, which it says have a substantial impact on housing affordability, and the supply of residential housing in Australia.
Apple is reportedly considering killing the iPod line. With the press invite for the iPhone5 out it seems the hardy iPod Shuffle and iPod Classic have been left out of the big hoopla once more.
Qantas warns that more than 8000 domestic and international passengers will have their flights disrupted tomorrow as customs and quarantine staff at Sydney's international airport are set to stage a protest on Friday.
Australian stocks fell today as investors played it safe waiting for the result of a German vote on whether to approve new powers for a European bailout fund.
A study by investment group Veronis Suhler Stevenson (VSS), forecasts that spending on so-called targeted media will rise by 7.1 per cent to $200 billion this year, as companies on a tight budget focus on their key customers.
Australia's competition regulator has approved a transpacific alliance between Qantas Airways and American Airlanes, the regulators said on Thursday.
Leighton Holdings subsidiary John Holland has been selected as the preferred tenderer for the construction of the $400 million proposed Connors River Dam to Moranbah Pipeline in Central Queensland.
More and more Australian banks are reducing rates on their fixed-rate loans as the expectations of a rate rise by the Reserve Bank of Australia weaken.
It's all systems go as Qantas and American Airlines have been given the approval by the Australian Competition and Consumer Commission (ACCC) to enforce their joint business agreement on Pacific flights.
Australia's population reached 22,546,300 people at the end of March 2011, growing by 312,400 people over the year.
Apple is cutting orders to vendors for its iPad tablet computers that could lead to slower sales for supply-chain vendors, according to a report from JP Morgan Chase and Co.
All those promises of a lean, better and toned legs flew off the shelves as fast as Reebok might need to rework its advertising campaign, as the shoe maker has conceded to pay consumers $25 million in refunds.
A global tax on financial transactions is not appropriate for Australia because local banks did not fail during the global financial crisis (GFC), Australia’s banking sector said today.
Fast food chain Hungry Jack will begin introducing sides of vegetables to go with its regular meals starting next month in a move to bolster its health credentials.
The blaze at Shell SIngapore Refinery, the company's largest plant worldwide, highlights how precarious Sydney supply really was should Shell proceed with its plans to discontinue Clyde as a refinery or disallow its use by third parties, the Construction, Forestry, Mining and Energy Union said on Thursday.
With world oil prices on a rollercoaster ride lately, the Chinese are more determined than ever to lessen their dependence on the precious commodity and exploit their abundant coal reserves.
Arch West was the man behind the crispy and tangy Doritos, which last year alone generated worldwide sales of up to $5 billion.
The Parliament of Finland has agreed to contribute its share to a larger bailout fund for countries that are deep in debt by voting 103 to 66, with 30 representatives absent, leaving only 7 out of 17 members of the euro zone to ratify the bailout subsidy.
A separate but successive customs, quarantine, baggage handlers and ground staff strike is expected to cause havoc in major Australian airports for three days.
With more and more foreign businesses wanting to invest and partake in Australia's huge and abundant mining industry, federal authorities are disturbed resources might all be consumed by foreign partners and none will be left for the locals to use.
MIDDAY REPORT (12pm AEST)The Australian sharemarket has wiped out yesterday's gains, with concerns that the European leaders remain divided on a potential debt crisis solution. Investors are extremely sensitive to both positive and negative news out of the Eurozone. The Americans have been quick to judge and criticize the Euro leaders, with President Barack Obama saying that governments have been too slow to agree on a resolution.
Myer Melbourne was named this week as the world's best new department store in the 2011 Oracle World Retail Awards.
China needs to re-work its economic policies and growth strategies if it wants to continue enjoying a more than 9 percent annual growth, which catapulted it to become the world's second-largest economy now, otherwise it is also doomed to suffer what the U.S. and Europe are presently experiencing.
Diesel oil spilled into the Brisbane River near the commercial business district. The spill, near Eagle St Pier, was reported at 5:30 a.m. and is estimated to have spread 150 to 200 metres along the river's northern bank.
By Richard (Rick) MillsAs a general rule, the most successful man in life is the man who has the best informationThe Fed has been dumping billions of dollars into the US markets each and every trading day since late 2010.
