U.S. stocks rose Friday, putting the market into positive territory for the second straight week. Energy companies including Chevron, Halliburton and Schlumberger led the climb, boosted by increased expectations for global oil demand.v
The Australian Dollar has hung onto its recent gains and opens the new week at 0.9290. A recent string of positive local economic data has all but confirmed to the market that the Reserve Bank of Australia's next move in rates will be up.
Chinese economic data released over the weekend will be pushing trading higher at the Australian share market.
The Australian currency was higher at Friday noon after touching a four-month high as it continued to ride a bullish sentiment coming from positive economic data.
The Australian currency finished at four-month highs, underpinned by news that China's trade surplus had unexpectedly shrunk.
The Australian stockmarket has closed lower on Friday, paring weekly gains as miners and energy stocks posted losses.
Kentucky Fried Chicken (KFC) in Australia has captured the interest of the U.S. market after charges of racial stereotyping for an advertisement. The chicken company now takes a worldwide approach in its advertising campaign.
The retail store chain may be Dutch in origin, but it is serving as a magnet for other retailers across Australia.
Gold mining giant Newcrest Mining Ltd (ASX: NCM) announced on Friday that Lihir Gold Ltd’s investors would find their share consideration being scaled back as an overwhelming demand of shares ensued following the blockbuster $10.5 billion deal that saw the merger of the two companies.
Multinational property management Lend Lease Group (ASX: LLC) will have a helping hand in its planned community projects and apartment developments in Australia.
Media giant firm Fairfax Media Ltd (ASX: FXJ) said on Friday that mobile users accessing its four online news sites would need to pay some fees within the next few weeks as the company announced the launching of its first subscription-based smartphone applications.
Social networking pulled down the editor of New South Wales' Glen Innes Examiner.
China, Australia's biggest trade partner and a major buyer of its commodities, reported a surprising jump in August imports, showing a strengthening of domestic demand in an economy that has become a major driver of global growth.
Bonds are making a hit on the financial market.
Power distributor Aurora Energy said on Friday that Tasmania’s electricity costs has been recently justified by a report which showed that state residents were actually enjoying relatively cheaper power bills as compared with other states and territory in Australia.
The Australian stock market was slightly stronger at Friday noon, with gains in banking stocks offsetting losses in the resource sector.
Greenland-focused Greenland Minerals and Energy Ltd (ASX: GGG) revealed on Friday that it has obtained license modifications from its host country’s exploration site that would allow the cultivation of radioactive elements on the company’s Kvanefjeld project.
The Western Australia Industrial Relations Commission (IRC) came in to resolve the issues that brought about a standstill in the Perth public transport system in August.
The legal team representing the woman behind a multimillion-dollar sexual harassment claim against Australian department store David Jones (ASX: DJS) are tipped to file an amended statement of claim this afternoon.
The Australian Central Territory (ACT) Health is using an ACT Supreme Court decision as a warning to the food and beverage industry.
A 20 month-long industrial battle comes to halt with a management and union decision to increase pay by eight percent.
Toyota Australia announced on Friday it will build a new engine plant that will inject approximately $300 million of project expenditure into the domestic economy.
Plans to form a joint venture of the skies was thwarted in order to protect competition on trans-Tasman routes.
Soft drinks giant Coca-Cola Amatil Ltd (ASX: CCL) flatly denied on Thursday that it is set to join the fray in bidding for the wine division of Foster’s Group Ltd following the brewer’s turning down of a takeover proposal earlier this week.
Following a government report of more than sufficient surplus, crude oil prices came tumbling down on Thursday as the US petroleum inventory reached 1.14 billion barrels as of last week according to the US Energy Department.
A higher closing at the U.S. stock market due to encouraging falls in jobless claims was favorable for Australian shares.
US equities continue its rally from yesterday and further pushed gold futures away from the radar of investors seeking to shelter some funds for transit but solid investment as the Standard & Poor’s 500 index achieved its highest level in a month’s time on Thursday’s closing.
The August jobs report, which beat expectations on all fronts, is raising speculations that the Reserve Bank of Australia may resume hiking interest rates soon.
The Australian bourse posted strong gains on Thursday, buoyed by better-than-expected employment figures.
The International Air Services Commission (IASC) ruled on Thursday that Qantas Airways Ltd could retain its code-sharing agreements with South African Airways for another 12 months on service routes between Australia and South Africa.
