Australian market closes lower after poor China data
Shares in Whitehaven Coal (ASX:WHC) have soared to a record high on the likelihood of being the target of a $3 billion takeover bid from US firms.
The Queensland state government said today it is discussing with a group of coal firms a raised bid for its coal rail network but has not discarded plans to float the $6.98 billion operation.
Ivanhoe Australia (ASX:IVA), which is 80 per cent owned by the Robert Friedland-chaired Ivanhoe Mines, plans to raise up to $269 million for a takeover and project development in Queensland as well as to settle debt.
Thin trading volumes and weak economic data saw the Australian share market ease today, with both major indices shedding 1.2pct. The All Ordinaries Index (XAO) fell 52.6pts to 4563 while the S&P/ASX 200 Index (XJO) was off 54.2pts to 4540.7.
Call them strange bedfellows but Blackfeather Ltd and AdultShop.com (ASC), both firms catering to adult entertainment needs, are set to collaborate on a steamy deal as ASC announced on Tuesday that it is taking over Blackfeather’s Stiletto brothel operation.
IT consultancy firm Oakton Ltd (ASX: OKN) reported on Tuesday that it saw a 42 percent spike on its full-year profit as the company recuperates from the debilitating effects of the worldwide economic downturn.
Business confidence has continued weakening, while trading conditions also deteriorated in July, according to National Australia Bank's (ASX: NAB) monthly business survey.
CBS reports that Miss Universe 2010 constestants completed their photoshoot by the pool in Las Vegas. During their free time, some candidates took stance on various political and global issues
The World Trade Organization (WTO) ordered the Australian government to revise its stringent restrictions on imported New Zealand apples, arguing that the measures were inconsistent with scientific evidence.
Australian shares were lower at midday, extending losses through the morning in quiet conditions.
NAB economists were surprised to see business confidence fall in July given the MRRT resolution and are concerned by a fall in new orders.
Overall market activity is heating up for spot uranium, or so it seems. This has an impact on pricing too.
Business executives foresee sales and profits improvement in the three months to December, according to the Dun & Bradstreet final business survey released on Tuesday.
Cochlear (ASX:COH), maker of the world's best-selling hearing implant, has recorded a 19 per cent increase in annual net profit.
Alumina Ltd (ASX: AWC) announced a profit windfall on Tuesday as it netted a total of $US44.2 million in the six months leading to June 30, as against the measly $US4 million it posted in the previous corresponding period.
Japanese firm Honda Motors Ltd announced on Monday that it will recall some 427,000 vehicles across the United States and Canada due to faulty ignition locking device that allows the removal of the key, even in a non-parking position.
Software management specialist Reckon Ltd (ASX: RKN) announced on Tuesday that the company’s first half net profit for the current year soared by 44 percent to $8.85 million, coming from the $6.15 million it netted on the previous corresponding year.
Melbourne-based National Australia Bank (ASX:NAB) today announced it had posted $1.1 billion cash earnings in the three months to June, a 22 per cent increase on its profit from the same period last year.
To better serve its three geographical divisions’ operational structure, QBE Insurance Group Ltd (ASX: QBE) said on Monday that it is implementing management shake up for the company’s major executives.
U.S. stocks rose Monday following encouraging sales results from McDonald's and as technology companies Cisco Systems and International Business Machines benefited from rival Hewlett-Packard's moment of weakness.
The US Conference Board employment trends index rose from 96.7 to 97.0 in July.
The AUD has opened slightly weaker this morning currently trading at USD 0.9160 as many investors square up some positions before the Federal Reserve's meeting tonight.
A larger than forecast 3.9% decline in Australian home loans during June and disappointing ANZ job advertisements data halted the progress of the Aussie dollar in Asia yesterday as it entered offshore exchange relatively unchanged from the weeks open at 0.9185.
Wall Street was eagerly anticipating QE2 last night, on minimal volume. Dow up 45.
We got updates from two completely different parts of the economy yesterday with very, very contrasting pictures reveale...
The June housing finance figures were just terrible.Unlike the huge rise in jobs and job ads, the number of housing fina...
Even the high performing consumer electronics retailer and discounter JB HI Fi couldn't avoid the second half slowdown ...
Even the high performing consumer electronics retailer and discounter JB HI Fi couldn't avoid the second half slowdown ...
Even the high performing consumer electronics retailer and discounter JB HI Fi couldn't avoid the second half slowdown ...
