BUSINESS

Looming work-stoppage to hit BHP coal mines next week

Industrial action will soon hit the Australian coal operations of BHP Billiton as some 4000 coking coal workers are set to walk out from their job sites beginning next week, demanding from the giant resources company better pay and solid tenure assurances.

Industry unites in final exit fee fight

Leading mortgage brokers and non-banks have thrown aside normal competitive pressures to join forces in a last stand against the government's impending ban on exit fees, which is set to come into force on 1 July.
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Japan: Foreigners Still Like Shares

Foreign investors are not letting Japan's rough trot upset them, or the fear of a credit rating downgrade worry them; they are continuing to load up on Japanese securities, according to figures released yesterday.

Australia’s commodity bubble ready to burst?

The current conditions in the commodity markets may represent an unsustainable bubble which is open to a sudden correction, warns a new report from Standard and Poor’s global rating service.

Bradken's Upside Outweighs ESCO License Loss

- Bradken's recent capital raising has strengthens balance sheet- Increased scope for bolt-on acquisitions- Moelis sees value leading into an earnings growth acceleration post FY12By Chris ShawAt the end of last month Bradken ((BKN)) reiterated full year earnings guidance for a result in EBITDA...

Australia Parliament justifies carbon tax

Treasurer Wayne Swan is set to release today the Productivity Commission's report on international climate regimes at noon in Brisbane. Mr Swan will try to justify to opposing industry that seven of Australia's top-10 trading partners have adopted major policies to reduce pollution. The coal and gas industries have continue to oppose the carbon tax legislation further arguing the report should look at the measures taken by Australia's competitors.

Stockland sells industrial assets to shift to residential

Property developer Stockland confirmed today in a filing with the Australian Stock Exchange that it is in discussions with a potential buyer for assets representing about 20% if its industrial portfolio. This comes as Stockland also announced that it has secured 339 hectares of residential land in south west Sydney.

NZ50 outperforms ASX 200

As the Australian share market went down for a sixth consecutive trading day, investors went to the New Zealand markets, which rose close to 20 points to 3525.39, a change of about 56 percent.

iPhone 5 release: What’s causing the delay?

While many people are controlling their urges to grab a hold of the iPhone 4 thinking the iPhone 5 will be launched in the near future, the actual release of the highly anticipated smart phone remains a whodunit.

Australian consumers spend, invest conservatively

The Reserve Bank's decision to hold off plans for an upward rate adjustment in the past few months had impact well on Australia's consumers, who are now more spend-thrifts and conscious on what to spend on.

Sony launches 'PlayStation®Vita'

Sony Computer Entertainment Inc. announces PlayStation®Vita (PS Vita) (PCH-1000 series) as the official platform name for the next generation portable entertainment system (codename: NGP). Wi-Fi model will be available for 24,980 yen (including tax) in Japan, $249 in US and euro 249 in Europe, 3G/Wi-Fi model will be available for 29,980 yen (including tax) in Japan, $299 in US and euro 299 in Europe and successively launch in global market starting the end of 2011.

Parrot introduces AR.Drone

Parrot, leaders in wireless peripherals for mobile phones, revolutionised the video gaming world by creating the AR.Drone, the first flying object in Augmented Reality piloted through Wi-Fi.

Brent Surges Ahead Of West Texas

- The Brent-WTI spread has blown out to over US$17- The gap reflects lack of storage at Cushing- The global oil price is US$117/bbl not US$100/bblBy Greg PeelAs explained back in February in an FNArena feature story (Death In West Texas), this year has seen a rapid extension of the usually tight pre...

Rio Tinto deploys more driverless trucks in Pilbara

Global mining giant Rio Tinto has announced on Wednesday the doubling of the company’s fleet of automated-driven truck haulers currently deployed in the Pilbara region of Western Australia to further raise its ore production.

Iluka In A Sweet Spot

- Iluka has (again) lifted zircon and TiO2 price guidance- Stockbrokers have responed by (again) lifting earnings estimates- Not everyone sees a higher share price aheadBy Chris ShawMineral sands play Iluka ((ILU)) has enjoyed strong price increases for its products in recent months, which has drive...

The Economy: RBA Sits On Rates

No rate rise from the Reserve Bank, in fact it was a bit more of the same according to yesterday's post meeting statement from Governor Glenn Stevens.

The Overnight Report: No QE3

By Greg PeelThe Dow closed down 19 points or 0.2% while the S&P lost 0.1% to 1284 and the Nasdaq was basically square.

Australia's eastern states see incomes boost

Better seasonal conditions combined with higher grain and oilseed prices are anticipated to lift cash incomes for grain producing farms in 2010-11, a new report released by ABARES says.

Upside risks takes on markets

Australia's stock market has opened at a modest pace taking on from overnight leads as Wall Street gave up mid-session gains as Federal Reserve chairman Ben Bernanke hinted that further stimulus is required to boost the US economy.

RBA Backs Down

By Greg PeelGoing back a couple of months, no one expected another RBA cash rate rise was likely before August after the June quarter GDP result was in.

Global Markets Overview 06/08/2011

A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier rally in U.S. stocks, sending major indexes in the final minutes of Tuesday's session to their fifth-consecutive drop.

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