BUSINESS

Wall Street opened strongly last night, failed, and then kicked at the close. There is now a clear battle between buyers and sellers. Dow up 57.

On Wall St overnight, stocks opened sharply higher after a three day break, with the S&P 500 rising from a 10-month low amid speculation earnings growth in the upcoming reporting season will help equities rebound from their cheapest valuations since the March 2009 bear market low.

The US ISM services index eased from 55.4 to 53.8 in June, below forecasts centred on a result near 55.0.

U.S. stocks closed higher Tuesday, with Microsoft, Alcoa and Bank of America among the gainers, although continued concerns about global growth sapped some of the market's earlier gains.

Employers are getting more confident with the economic upturn and are intending to hire more personnel in the coming months, according to a recent Hudson survey.

As expected, no rate rise from the Reserve Bank yesterday and indeed, rates could be on hold for an indeterminate time i...

The other side of the current economic paradox, referred to in yesterday's story on car sales, was shown in the May trad...

It was hardly the most ringing endorsement for the outlook for the Australian sharemarket.But in the end, the main obje...

Building materials group, Boral, aims to raise about $490 million to fund investments, reduce debt and pay for asset wri...

Macarthur Coal yesterday raised its full-year profit forecast by about 10% after revealing a late surge in exports in ...

Harvey Norman Holdings is set to deliver a cheque for more than $55 million today to seal the deal involving its takeover of more than 30 branches in the Clive Peeters retail chain.

North Queensland authorities are investigating a case of what seems to be a mass vegetable and fruit sabotage.

As economists predicted, the Reserve Bank of Australia has kept cash rates on hold, giving debtors another month of regular payment costs amid rising inflation pressure.

As part of its on-going consultation with stakeholders, the European Food Safety Authority (EFSA) today announced its intention to call a meeting in September 2010 with environmental NGOs on its guidelines for the Environmental Risk Assessment (ERA) of Genetically Modified Organisms (GMO).The revise...

The maximum amount of melamine allowed in powdered infant formula is 1 mg/kg and the amount of the chemical allowed in other foods and animal feed is 2.5 mg/kg, according to new rulings from the United Nations' food standards body, Codex Alimentarius Commission.Melamine is a chemical used in a varie...

The life of public floats for the rest of the year has been cast into uncertainty after volatile equity markets claimed the $1.3 billion offer of Bilfinger Berger's Valemus, Australia's second-biggest civil construction company.

Copper prices have been relatively resilient in recent months but positive market fundamentals suggest upside for those with a longer-term view on the market.

Cameron Clyne, chief executive of Australian banking major NABsays he is not opposed to having a debate on whether the government imposing a super-profits tax on Australian lenders.Speaking at a business lunch, Mr. Clyne said that banks suffered perception of "large numbers". Australian banks posted...

Financial planners are fiercely opposing the proposal by the Cooper Review, which would ban commissions on insurance in superannuation, fearing that many clients will not be able to afford a fee which is charged upfront. The Association of Financial Advisers has leveled the accusation against many o...

The Australia 200 CFD Index closed 1.3% firmer at 4276.1, with financial, energy and industrial names adding most of the points.

Across the region, Asian markets are mixed following a complete lack of leads overnight and in very thin, holiday-affected trade.

The Australian market has today shrugged off weak leads, bouncing off the "flash crash" lows to make strong gains following Reserve Bank commentary this afternoon.

Xstrata renewed its earlier commitment of spending up to $186 million in canned exploration projects following the government’s decision to dump its proposed resources super profit tax in exchange for the tax deal it forged with giant mining companies.

While Holden has yet to start local assembly of the four-cylinder Cruze model, the company said on Monday that its imported version is already a hit with Australian buyers and in June alone, the becomingly popular car pushed 3000 units out of dealers’ stations, en route to the more than 14,400 units snatched up for the first six months of the year.

Chief Executive Don Matthews, of the Penola Pulp Mill subsidiary, said yesterday that he is confident that construction of the largest ever mechanical pulp mill will become a reality soon.

Official figures furnished on Tuesday by the Australian Bureau of Statistics (ABS) showed that the country posted a trade surplus for two consecutive months going into May and many economists are in agreement that Australia is all prepped up to enter a series of surplus performance in the months to come.

The Australian share market has started the day off weaker once again with the S&P/ASX 200 index down 0.1pct or 2.2pts to 4219.9.

Boral has identified a new strategic model and has announced its plans of raising $490 million to support investment and reinforce its balance sheet.

Sigma Pharmaceuticals Ltd, Australia’s major drug manufacturer, says it has not been given any formal offer by Aspen Pharmacare of South Africa as of yet, as the latter intends to continue carry out due diligence.