BUSINESS

Oz Housing Outlook Starts To Soften

Westpac has found the majority of Australians believe house prices will rise in the next 12 months, but it's a smaller majority and price expectations have been tempered.

China develops taste for NSW wine

Kristina Keneally, Premier of New South Wales, has made a visit to Shanghai’s Bright Foods Store to see for herself how NSW’s Hunter Valley wine is doing in the Chinese market, currently the fourth biggest export line for Australia’s wine.

David Jones announces new store expansion in Perth

Department store operator David Jones Ltd (ASX:DJS) said on Friday that it has agreed for a 20-year extension of the lease agreement for the company’s Karrinyup outlet in Perth, revealing that the new deal is “on attractive commercial terms in line with the more favourable David Jones leases.”
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World Market Overview

US stock markets pared session losses Thursday to arrive at a mixed finish as the halted flow of oil into the Gulf of Mexico offset poor economic data that dampened hopes for a rapid exit from recession.

Earnings: Nufarm In Trouble

Agricultural chemicals supplier Nufarm is in trouble after its shares plunged 28% in trading yesterday after Wednesday...

Coles-Woolworths war continues

Sales figures for Australian supermarket chains Coles and Woolworths (ASX: WOW) will be studied over the next two weeks to measure the effect of the marketing war waged between the two in the last six months.

Royal Queensland Olive Oil Show results

Gold medals have been awarded at the 2010 Royal Queensland Food & Wine Show's Olive Oil Competition, held from 12-13 July at the RNA Showgrounds. Table olives were in competition for the first time, and alongside one of the leading figures in the Australian olive industry, Mrs Margi Kirkby, as c...

OZ Minerals starts underground project in Prominent Hill

Melbourne-based OZ Minerals announced on Thursday that it is set to commence development works on its underground mine at Prominent Hill in South Australia, which is projected to yield an average of 25,000 tonnes of copper and 12,000 tonnes of gold every year.

Fortescue puts 2 WA projects on hold due to MRRT

Fortescue Metals Group Ltd (FMG) said on Thursday that lingering reservations on the proposed minerals resource rent tax were holding back the firm’s final decisions on two impending giant projects at Solomon and Western hub in Western Australia.

Sigma cuts annual profit forecast

Sigma Pharmaceuticals Ltd has downgraded its profit forecast for the full year by around 31 percent as it strives to convince Aspen Pharmacare to up its takeover bid worth $A649.73 million ($US573 million).

Mobile phone app scans barcodes to create shopping list

Netherlands firm Albert Heijn has launched an app for its customers to help them create shopping lists by scanning barcodes of products they are running out of using their mobile phone camera.The app, dubbed Appie, also sorts the groceries on the lists according to the walking route in their local A...

Carrefour to buy 51% of hypermarket firm Baolongcang

French retail giant Carrefour has signed an agreement to acquire 51% of Chinese hypermarket operator Baolongcang.The founders of Baolongcang, one of the main hypermarket operators in Hebei, near Beijing, will keep a 49% stake in the 11-store chain.The acquisition has been approved by local competiti...

Fortescue iron ore exports up 36 pc

Reaching 11 million tonnes in the three months to the end of June, exports of iron ore by Fortescue Metals Group (ASX:FMG) climbed 36 per cent from the equivalent period last year.

China sees relaxing growth in June as government initiates strict fiscal reforms

China seems living up to economic speculations by global experts as Beijing stepped up its efforts to slow down the country’s accelerating expansion with the latest figures from the National Bureau of Statistics (NBS) showing that the Chinese economy merely grew at a rate of 10.3 percent over the year and leading to June.

Queensland builders hit by activity snags in last quarter

Queensland’s construction industry has been on the decline for the past three months as a new report by the Queensland Master Builders Association (QMBA) showed on Thursday that up to 75 percent of polled businesses believed that building activity would either decline or stabilise in the coming 12 months.

Australians anticipate inflation cool-down

The median expected inflation rate in July edged down to 3.3 per cent, from 3.4 per cent in June, less than two weeks before Australia's crucial second-quarter consumer price index report is scheduled for release, according to the Melbourne Institute Survey of Consumer Inflationary Expectations.

NAB, AXA talks progressing

NAB (National Australia Bank Limited) has said talks over the possible divestment of AXA APH’s (AXA Asia Pacific Holding) Wealth.net arm were still on-going just several hours before the exclusivity deal of NAB over its $13.3 billion offer lapses.

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