BUSINESS

A New Zealand court has ordered Australian airlines Qantas to pay fines worth NZ$6.5 million for fault of price fixing, records showed.

Australian national carrier Qantas Airways (ASX: QAN) has been forced to cancel 31 flights affecting around 2500 passengers and delay another 46 flights during tomorrow's morning-peak, as a result of union-led industrial action from licensed engineers.

Industry leader BlueScope Steel Ltd. says it expects to report a net loss for the financial year ending June 30.

Qantas pilots belonging to the Australian and International Pilots Association (AIPA) announced on Thursday plans to stage a strike after enterprise bargaining negotiations with management bogged down.

- Westfield update shows lower costs offsetting stronger $A- Lift in development starts sees changes to earnings estimates- Two upgrades, Buys now dominate Westfield Group ratingsBy Chris ShawA stronger Australian dollar has been impacting on earnings for Westfield Group ((WDC)) but a quarterly trad...

Australia’s unemployment rate stayed at 4.9 per cent in April, official figures from the Australian Bureau of Statistics (ABS) show today.

As Australia returns to economic growth, and consumer confidence rebounds, increased competition for skilled workers has forced many organisations to rethink their talent strategies for 2011.

Hedge funds returned an average of 2.05% in April 2011 and the rate of net investor inflows was again above the 2010 average.

Blue Rice Investment Management (BRIM) is pleased to announce its strategic partnership with NewAlpha Asset Management, the Paris-based global hedge fund incubation specialist with an investment into the BRIM Asian Credit Fund as of 1st May 2011.

The Lyxor Global Hedge Fund index, an investable index based on Lyxor's hedge fund platform which tracks the overall hedge fund universe, was up +1.4% in April, lifting year to date gains to 2.1%.

Commonwealth Bank has reported third quarter cash earnings of $1.7bn amid a slight rise in mortgage arrears.

By Tony D’Altorio, Investment U Research Tuesday, May 10, 2011Coffee drinkers are finding it more and more expensive to get their caffeine fix.

By Greg PeelThe Dow closed down 130 points or 1.0% while the S&P lost 1.1% to 1342 and the Nasdaq fell 0.

By Greg PeelThe owner of a vast sheep station west of the Darling River in outback New South Wales would not permit prospecting on his land despite rumours of gold discoveries in other parts of the Barrier Ranges and the first strikes of silver being reported not far away.

Westfield had been tipped by some analysts to cut guidance because of the impact of the higher Australian dollar on offshore earnings, but the mall owner confirmed its forecasts for annual earnings, distributions and operating income in a statement to the ASX.

David Jones and Myer, Australia's two biggest department store chains, reported lower sales in their latest market updates, indicating shoppers remain reluctant to spend.

Enterprise security and firewall company Palo Alto Networks on Wednesday released the results of an eight-month study of more than 1,200 organizations and 2 million users that observed more than 28 exabytes of data passing through corporate networks.

Yesterday, S&P reported that they were downgrading the long-term outlook on U.S. debt from stable to negative.

Baker was appointed by President Obama in June 2009. She is the second commissioner to announce his or her resignation from the FCC -- Commissioner Michael Copps is set to leave at the end of the year after 10 years -- but certainly is not the first Washington to take a position like this.

The Australian Dollar has been unwillingly pulled south overnight as a sharp decline in commodities and a stronger Greenback dominate the markets.

The Australian share market closed higher on Wednesday as Chinese inflation figures boosted the resources sector. At the close, the benchmark S&P/ASX200 index had gained 54.4 points, or 1.15 per cent, at 4,780.2 points, while the broader All Ordinaries index had lifted 54.6 points, or 1.14 per cent, to 4,858.2 points.

US treasury prices rallied (yields lower) as investors shifted back to safe-haven investments. The auction of $24 billion in 10yr notes was met with solid demand. US 2yr yields fell by 4pts to 0.549pct and US 10yr yields eased by 6pts to 3.156pct.

Americans expressed more cautious optimism during the first quarter of 2011 than in the fourth quarter of 2010, but they continue to lack confidence in the overall strength of the housing market and economic recovery, according to Fannie Mae's latest national housing survey.

Toyota Motor Corp. (TYO), the world's top selling auto maker, on Wednesday announced a 77% drop in net profit in the January-March quarter. Toyota said that fiscal fourth quarter net profit slid to 25.4 billion yen ($314 million) from 112.2 billion yen a year earlier. The operating profit was 46.1 billion yen, falling short of analysts' average estimate of 94.6 billion yen, according to Thomson Reuters.

Google Inc. (GOOG) said in a regulatory filing Tuesday that it had set aside a half billion dollars for potential resolution of a U.S. government investigation related to online advertising, the latest in the Mountanview, California's continuing skirmishes with regulators around the world.

Westpac Banking Group chairman Ted Evans has announced plans to retire at the end of 2011, after the company’s annual general meeting.

By Greg PeelGlobal markets remain afraid that Beijing will tighten policy too swiftly and bring China in for a hard landing, thus upsetting global growth.

A skimpy swimsuit print that is part of the newest goddess-inspired collection uncovered by a Byron Bay swimsuit designer angered the Indians.

- Treasury Wine Estates lists following de-merger of Foster's - Brokers initiate coverage with Hold and Underperform ratings- M&A interest possible, Aussie dollar a key earnings driverBy Chris ShawFollowing the de-merger of the wine and beer operations of Foster's ((FGL)), wine group Treasury Wine E...