BUSINESS

It’s time for better banking, says finance union

The Finance Sector Union today renewed calls for banking regulation as ING Direct's latest quarterly Financial Wellbeing Index showed that Australian households are under rising pressure to get personal debt under control.

News Corp returns to profits this year, nets $US2.54 billion

Global media group News Corporation (ASX: NWS) revealed on Thursday that it has regained profitability in financial year 2009/10 with its net profit of $US2.54 billion or $A2.77 billion after bleeding huge losses on the year before as the company attributed growths on its business segments, stronger advertising markets and strings of blockbuster films for the impressive recovery.
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World Market Overview

U.S. stocks rose Wednesday as better than expected signs for the employment environment calmed investors' jitters ahead of the government's Friday payrolls report.

Daily Forex Commentary 5/8/2010

The Australian goods and services balance printed a trade surplus of 3.54 billion in June annihilating expectations of 1.81 billion.

Demand for Australian office space regains strength

Demand for Australian office space has recovered after the global financial crisis, with research from the Property Council of Australia showing figures over the last six months at double the 20 year average.

Solid demand for Brisbane CBD office space

Brisbane's CBD office vacancy rate has slumped from a 15 year high of 11.3 per cent in January to 10.9 per cent in July this year, according to the Property Council of Australia's mid-year Office Market Report released today.

Brisbane Fringe office vacancy hits its highest in 7 years

Brisbane's Fringe office vacancy rate recorded its highest level since January 2003, rising from 11.4 percent in January to 12.2 percent in July this year, according to the Property Council of Australia's mid-year Office Market Report released today.

Retailing: Kathmandu Punished

Another private equity retail success story bites the dust within a few months of being sold into the market.Myer was th...

CHOICE survey reveals grocery costs steady

A survey by consumer group CHOICE suggests that despite a marketing price war between the two major supermarkets, and an increasing focus in federal election campaigns on the rising cost of living, grocery choices have not actually changed substantially in the last year.The survey found that at Wool...

Cloned beef entered UK food chain: confirmed

The UK's Food Standards Agency has released a statement confirming that meat from the offspring of a cloned cow has been sold to consumers in the UK. Related claims of dairy from the offspring of cloned animals being sold have not yet been substantiated.While meat and dairy from cloned animals has b...

Australian Superannuation Funds Deliver Dismal Returns

Chris Bowen, Federal Minister for Superannuation says he has a lot of work ahead of him, after the results of a study suggest that the retirement savings of Australians only returned 3 per cent a year for over a decade.An ABC analysis of official statistics released by the Australian Prudential Regu...

ANZ To Rebrand ING Joint Venture Fully Acquired Last Year

Australian banking major ANZ is rebranding its ING wealth management and life insurance business as OnePath, the brand name of its own organically built specialist find management and life insurance business.Phil Chronican of ANZ says the lender is establishing a more diverse set of options for its ...

Australian Stock Market Report - Closing

The Australian share market followed Wall Street into the red today, snapping a two day winning streak. The All Ordinaries Index (XAO) fell 26.8pts or 0.6pct to 4559.7, while the S&P/ASX 200 Index (XJO) fell 29.5pts or 0.7pct to 4542.1.

Home Loan Hints survey shows consumers want advice they can trust

Education and advisory services are not simply a significant component for any home loan related vendor but have become essential, according to a new consumer survey conducted by Home Loan Hints, at a time when consumers say they cannot trust most of the home loan advice on offer.

SunPower completes solar power installation for Australian utility

SunPower Corporation (Nasdaq: SPWRA, SPWRB), a manufacturer of high-efficiency solar cells panels and systems, today announced its completion of a 505-kilowatt solar power installation for Horizon Power, a government-owned utility servicing remote and regional communities and resource operations in Western Australia.

GPs resent health minister’s remarks

Family doctors will resent comments made by the Federal Health Minister Nicola Roxon that GPs who have medical practices near government-funded Super Clinics need to question the services they offer, said Dr Adrian Sheen, President of Doctors Action.

AXA affirms incurring profit loss, suffers retreat on stocks

Insurance and investment firm AXA Asia Pacific Holdings Ltd (ASX: AXA) issued confirmations on Wednesday on its earlier announcement that its net profit retreated to $219 million in first half of 2010, suffering a slide of 19 percent from the $270 million netted last year.

Westpac to pay $50,000 in damages for defamation

The High Court has ordered one of Australia's major banks, Westpac Banking Corporation (ASX:WBC), to pay a former real estate agent $50,000 in damages for defamation resulting from its mistaken dishonouring of his company's cheques.

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