Macquarie Group chairman Clark resigns
Macquarie Group has announced today that its chairman David Clarke has formally stepped down from his post to address some personal health issues.
Aussie dollar loses parity with US dollar
The gains attained by the Australian dollar to reach parity along with the US dollar had been wiped away by the volatile pessimistic markets.
China's Inflation Problem
- Oil is China's biggest import- Oil price strength pushing inflation higher- Currency revaluation should followBy Greg PeelAs Libya descended into civil war and Saudis threatened a Day of Rage, the price of Brent crude reached a peak above US$116/bbl. The Saudi protest did not materialise and thus took some of the heat off the oil price, but it is the immediate reaction to the Japanese earthquake...
Australian Dollar Outlook 17/03/2011
The AUD has gone into freefall this morning as fears grow over the ongoing nuclear crisis in Japan.
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Top 10 Wealthiest People in Australia 2011
Gina Rinehart, the daughter of mining magnate Lang Hancock, is now the richest Australian ever.
Series of global disasters since December slows down economic growth
Global disasters will likely impact the Australian economy through the fourth quarter of 2011, with its expansion projected to be hampered by sluggish pace that experts said should commence by the second quarter of the year.
Reports: Rio Confident, For Now
A rather bullish outlook from major miner Rio Tinto in its 2010 review released yesterday helped the shares rebound nearly 2% in yesterday's steadying market.The shares rose $1.53, or 1.98%, to $78.94 after being as high as $79.52 in the morning as investor sentiment about stocks, especially commodities and uranium miners (Rio has a mine or two in Australia and South Africa), recovered from T...
Strategic Marine to provide high-speed patrol vessels for AFP
Western Australian owned international shipbuilding company Strategic Marine has been contracted to provide high-speed patrol vessels for the Australian Federal Police.
Uranium producer Paladin expresses concern on Japan nuclear situation
Australia-based uranium production company Paladin Energy Ltd (ASX: PDN) expressed its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011.
Apple stores report of iPad sellouts as Japan debut pushed back
The massive earthquake and the tsunami it spawned in Japan pushed back the late March launch of iPad 2 in the country even as Apple struggle to meet the refurbished tablet’s online demand, admitting on Wednesday that global consumers will have to endure weeks of delay.
Murchison executes US$100 million bridge finance facility
Murchison Metals Ltd (ASX: MMX) has formally executed its agreement with Resource Capital Fund V L.P. (RCF V) for the US$100 million Bridge Finance Facility that was announced to the ASX on 19 November 2010.
Telstra’s Sensis brings Yellow Pages apps to iPad
Telstra’s Yellow Pages publisher Sensis has followed the ways of other firms as it unveiled on Wednesday an iPad app that would allow the gadget’s Australian users to access directory database through the Apple bestselling product.
Google acquires Irish firm to enhance YouTube clips
Giant internet firm Google continues its ongoing campaign of raising the quality of its services, snatching this week an Irish company that it deems would bring better technology in improving the video offerings of its subsidiary, YouTube.
NAB announces changes to Group Executive Committee
National Australia Bank (ASX: NAB) today announced changes to the Group Executive Committee.
Telecom NZ to credit landline calls to Japan following quake
Telecom New Zealand (ASX: TEL; NZE TEL) has today announced it will credit all residential customers’ landline calls to Japan. This includes calls made from landline to landline and landline to Japanese mobile phones.
Holden dealer admits misleading 'lifetime mechanical warranty' promo
Patterson Cheney Pty Ltd, trading as Patterson Cheney Holden, has paid two infringement notices totaling $13,200 following an Australian Competition and Consumer Commission investigation into its promotional offer of a 'Free Extended Lifetime Mechanical Warranty'.
No More Free Online Digital Music?
Music and record-producing companies will soon realize the untapped potential of digital music subscription that will also curb the availability of free music downloads online.
Should you make the shift to Microsoft's Internet Explorer 9
Web developers will get the most benefit with Microsoft's Internet Explorer 9 (IE9) launched early this week.
At Last, Good News From Europe
- The eurozone has surprised by suddenly announcing new agreements- The bail-out fund is now bigger and concessions have been made to Greece- It's an improvement, albeit still not enough to cover Italy- But it may yet prove a turning pointBy Greg PeelLast week the world was distracted by MENA uprisings, including planned Saudi protests and the ongoing civil war in Libya. But Europe was suddenly ba...
Daily Forex Forecast 16/03/2011
News of another explosion at the Fukushima nuclear power station sent shockwaves through global markets. With the Nikkei plunging more than -10%, the largest one day decline since 1987, risk liquidation accelerated weighing the Aussie down. Initial reactions saw the Australian Dollar slide to 0.9925 against the Greenback.
World Market Overview Report 16/03/2011
U.S. stocks sank Tuesday as worries deepened over the specter of a nuclear crisis and economic slowdown in Japan, but encouraging comments from the Federal Reserve kept the losses in check.
Material Matters: Japan's Disaster And Commodity Markets
- Experts are trying to assess Japan's earthquake and commodity market implications- LNG, Coal likely winners- Long-term contracts to support uranium- Oil price forecasts also liftedBy Chris ShawThe full impact of the damage and losses suffered in Japan in the wake of the earthquake and tsunami that struck on Friday afternoon still cannot be accurately assessed, but with markets remaining open bro...
The Overnight Report: We Just Don't Know
By Greg PeelThe Dow closed down 137 points or 1.2% while the S&P lost 1.1% to 1281 and the Nasdaq dropped 1.3%.The first thing to note here is that Australia is currently leading Wall Street rather than following it as usual, given the critical situation at present is in the Asian time zone. Having fallen 6% on Monday, yesterday the Nikkei fell another 10% as the focus moved from the cost of the t...
The Fed: No Change
Don't expect too much in the way of changed language from the post meeting statement from the Fed.In reality not much has really changed from the last meeting in January.A small improvement in the jobs market is being offset by fears the damage that could flow from oil prices above $US100 a barrel and petrol prices between $US3 and $US4 a gallon.Inflation fears are overdone; the overhang of u...
The Economy: No Move On Rates
Australian interest rates will be on hold for a while longer as the central bank confirms that it will ignore short term blips and troughs in inflation and other data caused by the floods and bad weather.In the minutes of the March 1 board meeting, released yesterday the RBA said."Members confirmed that the Board's approach would be to look through temporary effects caused by extreme weather ...
Union warns return to surplus must not be at expense of jobs and services for working Australians
The push to return the Budget to surplus by 2012/13 must not come at the cost of jobs or cuts to vital programs, services that working people and their communities rely on.
Bankers group lauds gov't website
The Australian Bankers' Association (ABA) said the new MoneySmart website will be a helpful resource for consumers who access financial literacy information online.
Bankers group lauds gov't website
The Australian Bankers' Association (ABA) said the new MoneySmart website will be a helpful resource for consumers who access financial literacy information online.
AustralianSuper Fund steps up to serve Australians best
The merger of the Australian Retirement Fund (ARF) and the Superannuation Trust of Australia (STA) has created an industry behemoth that seeks to serve all of Australia's working class. AustralianSuper is still working hard to keep step with the demands of its members that encompasses all industries in the country.
Fake Facebook profile sends out invite for a young girl, gets 200K replies
The person behind the viral spread in Facebook for an overblown birthday party invite for a young girl residing in New South Wales has been identified by the state police.
Experts predict spike in smartphone sales in 2011 as Apple, Nokia, Google lead the way
The rising smartphone sales in Australia is expected to further accelerate this year and among the competing brands, Apple, according to experts, currently holds the edge due to its iPhone’s wide range of apps offerings.
Microsoft formally releases IE9 on SXSW tech fest
Finally, Internet Explorer 9 shed its beta-status as Microsoft Corporation announced on Tuesday the formal launch of the web browser during the South by Southwest Interactive technology festival held in Texas, USA.
Australia’s Leighton to build AED2.2 billion hospital in Abu Dhabi
The Al Habtoor Leighton Group (HLG), in joint venture with Murray and Roberts, has been awarded an AED2.2 billion (US$600 million) contract for the construction of Al Mafraq Hospital for SEHA, the Abu Dhabi Health Services Company.
Murchison’s Oakajee projects receive environmental approval
Murchison Metals Ltd (ASX: MMX) has secured the approval of the Environmental Protection Authority of Western Australia (EPA) for the proposed Oakajee Port & Rail (OPR) terrestrial iron ore port development and associated rail infrastructure in the State’s mid-west region.
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