Vittorio Hernandez

2851-2880 (out of 7523)

Vittorio Hernandez completed a degree in Economics and studied Public Administration, as well as Development Communication. He has been writing business and general news for various publications for decades now. He joined IBTimes Australia in September 2011. He may be reached at v.hernandez@ibtimes.com.au.

@vitthernandez ibtimesau

Global Markets Overview – 11/25/13

Risk finished the week off on a positive note, with US markets rallying to fresh record highs with the Down closing above 16,000 and the S&P above 1800. While tapering remains on the cards in coming meetings, perhaps investors are looking at the situation as glass-half-full, given the Fed is likely to remain accommodative for a while. This week will be crucial for some of the interest rate sensitive sectors of the US economy with the holiday shopping season ramping up. Black Friday will be watch...

Aussies Expected to Spend $30B for Christmas

The Australian National Retailers Association (ANRA) forecasts the average Aussie shopper will splurge around $1,280 during the Christmas yearend holiday, boosting the national economy for the last month of 2013 by about $30 billion.

Indonesia No Longer Blocks Asylum Boats Bound for Australia

Australia is beginning to feel the wrath of Indonesia, following the diplomatic fallout due to leaks provided by National Security Agency contractor Edward Snowden that Canberra wiretapped the phone of Indonesia President Susilo Bambang Yudhoyono.

Australian Stock Market Report – Afternoon 11/22/13

The Australian sharemarket managed to benefit from the strength in offshore stocks overnight, with the All Ordinaries Index (XAO) rising by 0.9 per cent and closing back above the 5300pt mark. US shares have more than doubled in value from the lows hit in 2008, closed above 16,000pts for the first time on record overnight and the DOW is 22 per cent firmer this calendar year.

Australian Stock Market Report – Midday 11/22/13

After four straight days of weakness, the Australian sharemarket is surging higher, with the All Ordinaries Index (XAO) up by 0.9 per cent. All sectors are in the black with the energy stocks the standouts. US stocks closed above 16,000 pts for the first time on record last night - American shares have more than doubled in the past five years.

Will Samsung Pay Apple the $290 Million Damage Award in 5-Cent Coins or Contest the New York Court’s Decision?

Samsung just lost another legal battle versus Apple in the never-ending patent disputes between the two tech giants. The eight-person jury appointed by he U.S. District Court for the Northern District of California, on the third day of deliberation, cut the $380 million damage demand by the Cupertino-based Apple and ordered the Seoul-based company to pay $290 million, substantially higher than the $52 million that Samsung was willing to pay.

Global Markets Overview – 11/22/13

There was a continuation of US dollar strength as unemployment claims and the US flash manufacturing PMI readings came in ahead of consensus. Unemployment claims fell to 323,000 and this reading was also well below analysts' estimates of 333,000. Effectively this brought the 4-week average claims down 7,000 to 339,000. This saw the continuation of the tapering talk theme and resulted in the dollar index holding its ground above 81. At the same time US 10-year yields traded at the highest leve...

Australian Stock Market Report – Morning 11/22/13

In US economic news, new claims for unemployment insurance fell from 344,000 to 323,000 in the latest week, below forecasts for a result near 335,000. Producer prices fell 0.2pct in October, in line with forecasts. Excluding food and energy, prices rose by 0.2pct, ahead of forecasts for a 0.1pct gain. The Philadelphia Federal Reserve index eased from 19.8 to 6.5 in November. And the Markit flash manufacturing gauge rose from 51.8 to 54.3 in November.

Australian Stock Market Report – Afternoon 11/21/13

The Australian sharemarket fell once again, with the All Ordinaries Index (XAO) ending 0.4 per cent lower by the close. This makes it the longest losing streak for local stocks in five months. Minutes from the last Federal Reserve meeting were issued overnight and showed that the US central bank hasn't ruled out the possibility of a reduction in stimulus in the 'coming months'. This together with a weaker than expected reading on the health of China's manufacturing sector this aftern...

Global Markets Overview - 11/21/13

Blurred language out of the Fed has again poured cold water on the markets understanding of where it stands on the monetary stimulus component of its quantitative easing policy.

Australian Stock Market Report – Morning 11/21/13

In US economic news, advance retail sales rose by 0.4pct in October, ex autos, gas & building materials sales lifted by 0.5pct. Headline CPI inflation dipped 0.1pct in October to be up just 1.0pct over the year - the smallest rise in four years. Core CPI inflation held steady at 1.7pct over the year. Existing home sales fell by 3.2pct in October, weighed down by higher mortgage rates and tight supply. But the median price of a previously owned home was up 12.8pct on a year ago.

Did Samsung Really Pay Apple $1 Billion Lawsuit Damage 30 Trucks of 5 Cents Coins?

A Web site called the Blade Brown Show claimed on Wednesday that South Korean tech giant Samsung paid Apple the $1 billion damage in a lawsuit in 5 cents coins aboard 30 trucks. The story appears to join the ranks of recent hoaxes such as the death of action star Jacky Chan and the alleged suicide of Mr Bean, actor Rowan Atkinson.

British Petroleum to Fire 300 Aussie Workers in Melbourne

British Petroleum (BP) is firing up to 300 employees from its office in Melbourne, Australia. The sacked workers comprise about 24 per cent of the total 1,250 staff in Melbourne, although across Australia, BP has 7,500 workers.

Australian Stock Market Report –Afternoon 11/20/13

The Australian sharemarket lost ground once again, with the All Ordinaries Index (XAO) easing by 0.8 per cent. This takes the losses for the week so far to 1.7 per cent. The OECD cut its growth forecasts for the Australian economy from 3.2 per cent to 2.6 per cent for 2014. The DOW fell back from 16,000 points, after cracking through on Monday.

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