WTO chief renews warning against protectionism
TOKYO AFP - World Trade Organisation director general Pascal Lamy on Tuesday renewed his warning against protectionism and stressed the need to speed up talks on a new global free trade pact- officials said. ...
Tue 24th February 2009 - 11:44pm
Lonmin cuts 5-500 jobs in new blow for S.Africa
CAPE TOWN AFP - British mining group Lonmin announced Tuesday up to 5-500 job cuts in South Africa- dealing a new blow to the continents biggest economy as it reported a contraction for the first time in a decade. ...
Tue 24th February 2009 - 11:30pm
Paint maker AkzoNobel reports 38 profit dip
THE HAGUE AFP - AkzoNobel- the worlds largest paint maker- reported Tuesday a 38 percent drop in net profit on fourth quarter continuing operations and announced -amp quotdeeper and faster -amp quot restructuring. ...
Tue 24th February 2009 - 11:28pm
Rolls Royce wins £103 mln contract from Total
LONDON AFP - Engine maker Rolls Royce said Tuesday it had won a 103 million pound contract from French oil group Total to supply turbines for Totals drilling operations in Nigeria. ...
Tue 24th February 2009 - 11:25pm
Oil prices hold steady
LONDON AFP - Oil prices held firm on Tuesday after losses the previous day but gains were capped by lingering demand concerns and sliding equity markets- analysts said. ...
Tue 24th February 2009 - 11:14pm
Valin set for 16.5 stake in Fortescue
Fortescue Metals Group Ltd has confirmed Chinese steel maker Hunan Valin Iron and Steel will take up a strategic stake under a $558 million equity investment. ...
Tue 24th February 2009 - 09:41pm
Business confident of surviving crisis- survey
The Australian Institute of Management says most businesses remain confident of surviving the current downturn. ...
Tue 24th February 2009 - 09:39pm
Talks to resolve prison impasse
The two unions representing staff at Hobarts Risdon Prison will hold talks with managers later this week to try to resolve a dispute over budget cuts. ...
Tue 24th February 2009 - 09:16pm
FMG China deal
Perth miner Fortescue Metals Group FMG has announced a deal with one of Chinas leading steel mills- worth nearly $560 million. ...
Tue 24th February 2009 - 09:15pm
FMG China deal
Perth miner Fortescue Metals Group FMG has announced a deal with one of Chinas leading steel mills- worth nearly $560 million. ...
Tue 24th February 2009 - 09:12pm
FMG signs $560m deal with Chinese steel mill
Perth miner Fortescue Metals Group FMG has announced a deal with one of Chinas leading steel mills- worth nearly $560 million. ...
Tue 24th February 2009 - 09:11pm
Lonmin cutting 5-500 jobs in South Africa
LONDON AFP - British mining group Lonmin is to axe up to 5-500 workers in South Africa- the company said on Tuesday after reaching a deal with trade unions on a restructuring plan to weather the global downturn. ...
Tue 24th February 2009 - 08:46pm
OZ Minerals' refinancing deadline looms
OZ Minerals looks unlikely to meet its deadline to refinance about $1.2 billion in debt by Friday- which could see it placed into administration. ...
Tue 24th February 2009 - 07:43pm
Resignation opens door to Murdoch heirs
The Murdoch sons may face a challenge from News Corp shareholders if they expect to one day take over from their media mogul father- analysts say. ...
Tue 24th February 2009 - 07:30pm
CBA cherry-picks Wizard loans
Commonwealth Bank of Australia says it will acquire a $2.25 billion portion of Wizard Home Loans' portfolio from GE Money. ...
Tue 24th February 2009 - 06:40pm
Housing construction stalling- HIA
The Housing Industry Association says urgent action is needed with construction on tens of thousands of homes stalled because of a lack of finance. ...
Tue 24th February 2009 - 06:39pm
B -amp B Wind optimistic despite $88m loss
Babcock -amp Brown Wind Partners Group says separation from its troubled parent will return it to profitability despite a first half $88.4 million net loss. ...
Tue 24th February 2009 - 06:31pm
No guidance from Spark in tough market
Infrastructure fund Spark Infrastructure Group has reported a fall in profit and says market conditions are too tough for it to provide distribution guidance. ...
Tue 24th February 2009 - 06:31pm
Sonic retains earnings guidance for 2009
Pathology and radiology provider Sonic Healthcare says its earnings guidance for 2009 remains unchanged after acquisitions and growth helped it post a profit. ...
Tue 24th February 2009 - 06:28pm
Aust shares survive Wall Street plummet
Australian shares have staged only a modest fall despite a steep decline on Wall Street overnight. ...
Tue 24th February 2009 - 06:27pm
Home building encounters hiccups
A lack of available finance and weak demand are behind the delays for approved residential construction projects proceeding to commencement- a survey says. ...
Tue 24th February 2009 - 06:26pm
Aust shares survive Wall Street plummet
Australian shares have staged only a modest fall despite a steep decline on Wall Street overnight. ...
Tue 24th February 2009 - 06:26pm
Macquarie Media says it's well placed
Regional broadcaster Macquarie Media Group MMG says it is well placed to emerge stronger from the economic downturn- after reporting a first half net loss. ...
Tue 24th February 2009 - 06:25pm
Flight Centre hit by slowing sales
Flight Centre has reported a 57.4 per cent fall in first half profit after global sales slowed. ...
Tue 24th February 2009 - 06:20pm
Fortescue talks with Chinese progress
Fortescue talks progress with Chinese entities about equity investments and funding as it faces claims related to suspended and terminated shipping contracts. ...
Tue 24th February 2009 - 05:57pm
Battered Suncorp in search of new chief
Shares in Suncorp-Metway Ltd slumped after the banking and insurance group said its outgoing chief executive was leaving sooner than expected. ...
Tue 24th February 2009 - 05:56pm
Environment unaffected by Antarctic tourism surge
A Senate estimates hearing has been told Antarctic tourism has more than doubled in the past nine years. ...
Tue 24th February 2009 - 05:51pm
Casino swipe cards urged
An advocate for problem gamblers wants casino patrons to have to swipe an identity card to get in. ...
Tue 24th February 2009 - 05:41pm
Aussie dollar at 2-week high against yen bonds up
SYDNEY- Feb 24 - The Australian dollar held near two-week highs against the yen on Tuesday as the Japanese currency continued to lose its safe-haven allure- offering some support to currencies still offering higher yields. ...
Tue 24th February 2009 - 05:40pm
Negotiations progress between Air Services- union
Air Services Australia says it is very close to striking a deal with the air traffic controllers union- which has been threatening to take industrial action. ...
Tue 24th February 2009 - 05:36pm
Britain steps up efforts on banks
Britons thought the country's first bank run in a century and subsequent nationalisation of a mid-market mortgage lender was the worst the crisis could get. ...
Tue 24th February 2009 - 05:35pm
CBA cherry-picks Wizard loans
Commonwealth Bank of Australia says it will acquire a $2.25 billion portion of Wizard Home Loans' portfolio from GE Money. ...
Tue 24th February 2009 - 05:35pm
Oil Search profit up- holds cash for LNG
Oil Search has more than doubled its annual profit but will cut back on exploration spending to conserve cash for an LNG project in Papua New Guinea. ...
Tue 24th February 2009 - 05:33pm
Melbourne IT shows promise in its domain
Domain name manager and online services provider Melbourne IT has posted a 17 per cent rise in annual profit and expects to improve in 2009. ...
Tue 24th February 2009 - 05:26pm
Aristocrat post 59pc fall in profits
Gaming machine supplier Aristocrat Leisure has reported a 59 per cent fall in annual profit but expects benefits in fiscal 2009 from new games. ...
Tue 24th February 2009 - 05:11pm
Foster's finds size matters to drinkers
Brewer Foster's is sheepishly reversing a marketing brain snap in Australia that tried charging the same price for less beer in a smaller -amp quotEuro-style -amp quot stubbie. ...
Tue 24th February 2009 - 04:56pm
Keeping skilled staff is 'top priority'
Retaining skilled staff is the number one priority for businesses in response to the global financial crisis- a survey says. ...
Tue 24th February 2009 - 04:56pm
Flight Centre hit by sluggish sales
Flight Centre has reported a 57.4 per cent fall in first half profit after global sales slowed in the travel sector. ...
Tue 24th February 2009 - 04:55pm
Retirees panic as super returns plummet
Self-funded retirees are starting to panic about the dramatic declines in superannuation returns- a pensioners group says. ...
Tue 24th February 2009 - 04:52pm
Australia shares at 5-year closing low
SYDNEY- Feb 24 - Australian shares fell 0.6 percent to a five-year closing low on Tuesday as banking stocks dropped on fresh worries about the financial system- while travel firm Flight Centre Ltd FLT tumbled on a weak profit report. ...
Tue 24th February 2009 - 04:51pm
Asian Markets Overview of February 24
Sydney- Australia- Feb 24- 2009 - ABN Newswire - Most major Asian indexes ended higher on Monday except for the Japan market. Tokyo stocks hit by the bankruptcy of nonbank lender SFCG dropped 2.8 in early trading and ended 0.5 at the close. South Koreas Kospi jumped 3.2- Chinas Shanghai Composite added 2 and Hong Kongs Hang Seng Index surged 3.8. ...
Tue 24th February 2009 - 04:49pm
Markets pare down losses after shaky start
Losses on the Australian sharemarket have eased on the close of trade. ...
Tue 24th February 2009 - 04:48pm
Japan to consider steps on market plunge
Japan will consider new steps to halt a plunge in Tokyo share prices- which are close to the lowest levels in 26 years- Finance Minister Kaoru Yosano says. ...
Tue 24th February 2009 - 04:43pm
Oil price collapse clouds AWE's success
Oil and gas producer Australian Worldwide Exploration Ltd has posted a solid first half profit but expects a collapse in oil prices to impact the result. ...
Tue 24th February 2009 - 04:39pm
Retirees panic as super returns plummet
Self-funded retirees are starting to panic about the dramatic declines in superannuation returns- a pensioners group says. ...
Tue 24th February 2009 - 04:17pm
Macquarie Media says it's well placed
Regional broadcaster Macquarie Media Group says it is well placed to emerge stronger from the economic downturn- after reporting a first half net loss. ...
Tue 24th February 2009 - 03:48pm
Home building 'stalled by weak demand'
A lack of available finance and weak demand are behind the delays for approved residential construction projects proceeding to commencement- a survey says. ...
Tue 24th February 2009 - 03:43pm
Casino swipe cards urged
An advocate for problem gamblers wants casino patrons to have to swipe an identity card to get in. ...
Tue 24th February 2009 - 03:42pm
China sets out on European spending spree- report
BEIJING AFP - Chinese Commerce Minister Chen Deming was set to fly to Europe Tuesday at the head of a 300-strong team charged with spending billions of dollars on European products- state media said. ...
Tue 24th February 2009 - 03:32pm
Retirees panic as super returns plummet
Self-funded retirees are starting to panic about the dramatic declines in superannuation returns- a pensioners group says. ...
Tue 24th February 2009 - 03:22pm
Woodside makes gas discovery in WA
Australia's second largest oil and gas producer Woodside Petroleum has made a gas discovery in Western Australia's Carnarvon Basin. ...
Tue 24th February 2009 - 03:16pm
12-yr US low pulls down local stocks
Local stocks have fallen after US stocks tumbled to a 12-year low overnight. ...
Tue 24th February 2009 - 03:16pm
Premier rolls out rail funding
The Don River Railway tourist attraction near Devonport in Tasmanias north-west has received a funding boost. ...
Tue 24th February 2009 - 03:15pm
RBA to sell $US10b in US repo agreements
The Reserve Bank of Australia RBA will sell $US10 billion in US dollar repurchase agreements to banks- as part of as plan to boost US dollar liquidity. ...
Tue 24th February 2009 - 03:14pm
Drivetrain workers call on Govts for support
Workers facing redundancy from an Albury gearbox manufacturer- in southern NSW near the Victorian border- are staging a picket outside the factory. ...
Tue 24th February 2009 - 02:48pm
Campbell Bros slashes full-year guidance
Cleaning products and laboratory services company Campbell Brothers has cut its full year profit guidance after being hit by the downturn and seasonal changes. ...
Tue 24th February 2009 - 02:47pm
Japan to consider steps on market plunge
Japan will consider new steps to halt a plunge in Tokyo share prices- which are close to the lowest levels in 26 years- Finance Minister Kaoru Yosano says. ...
Tue 24th February 2009 - 02:46pm
Australia shares down 1.3 pct- but Woodside shines
SYDNEY- Feb 24 - Australian stocks fell 1.3 percent on Tuesday- touching a three-month low- but the market performed better than other big Asian exchanges as gold miners and a new domestic gas discovery helped keep losses in check. ...
Tue 24th February 2009 - 02:40pm
Bid to close tax haven loopholes
Countries long seen as financial havens have been quietly sealing deals to offer more cooperation on tax reporting. ...
Tue 24th February 2009 - 02:38pm
Labor playing up scope of financial crisis- Springborg says
Liberal National Party LNP Leader Lawrence Springborg says the global financial crisis is a side issue for Queensland. ...
Tue 24th February 2009 - 02:32pm
Concerns fast food fallout will impact on NT town
The Independent Member for Nelson says hes concerned the controversy surrounding a Tennant Creek fast food store may cause people to lose confidence in the town. ...
Tue 24th February 2009 - 02:29pm
Micron to slash 2-000 more jobs
Two months after saying more job cuts weren't expected- computer chip maker Micron Technology announced it will cut as many as 2-000 jobs by the end of August. ...
Tue 24th February 2009 - 02:24pm
Hong Kong judge delays PCCW bid
HONG KONG AFP - The privatisation of Hong Kong telecoms firm PCCW will be further delayed after a judge Tuesday allowed the citys securities watchdog more time to investigate possible vote-rigging. ...
Tue 24th February 2009 - 02:20pm
No guidance from Spark in tough market
Infrastructure fund Spark Infrastructure Group has reported a profit fall and says it cannot provide distribution guidance for 2009 in tough market conditions. ...
Tue 24th February 2009 - 02:12pm
B -amp B Wind optimistic despite $88m loss
Babcock -amp Brown Wind Partners Group BBW has posted a first half loss of $88.4 million- but expects profitability to return. ...
Tue 24th February 2009 - 01:54pm
Resignation opens door to Murdoch sons
Rupert Murdoch's key lieutenant Peter Chernin is leaving News Corp- opening the way for one of the media mogul's sons to step into the top job. ...
Tue 24th February 2009 - 01:54pm
NZ Powerco sale hits hitch
The sale of a half-stake in New Zealand electricity and gas distributor- Powerco NZ- has been interrupted. ...
Tue 24th February 2009 - 01:51pm
In the red Become a professional lab rat
The size of the US deficit and the trouble that American corporations and banks are in are a constant reminder to ordinary Americans of the economic mess they are facing. ...
Tue 24th February 2009 - 01:48pm
Australian Market Report of February 24- A New Low Likely
Sydney- Australia- Feb 24- 2009 - ABN Newswire - US shares plunged to nearly a 12 years low with Dow sank 3.4 per cent. Investors restored some calm after news that the government could expand its stake in Citigroup. But the Obama administration also shows that it will avoid completely nationalising those troubled banks. ...
Tue 24th February 2009 - 01:46pm
Mayor calls on NT Govt to allow planning appeal
The Mayor of Palmerston says he cant understand why the Northern Territory Department of Planning told him he has no right to appeal the designs of primary and middle schools for a new suburb. ...
Tue 24th February 2009 - 01:45pm
AOFM in $600m Treasury bond offering
The Australian Office of Financial Management AOFM will offer $600 million worth of Treasury bonds at tender. ...
Tue 24th February 2009 - 01:33pm
Alibaba.coms HKG-1688 Ball Barometer Forecast- Soccer with a Chance of Badminton
Hong Kong- China- Feb 24- 2009 - ABN Newswire - Alibaba.com Limited HKG-1688PINK-ALBCF The global trade in sports balls may have taken a dramatic bounce for the better because of the 2008 Beijing Olympics- according to data collected by Alibaba.com- the worlds largest business-to-business e-commerce company. ...
Tue 24th February 2009 - 01:31pm
Foster's finds size matters to drinkers
Brewer Foster's is sheepishly reversing a marketing brain snap in Australia that tried charging the same price for less beer in a smaller -amp quotEuro-style -amp quot stubbie. ...
Tue 24th February 2009 - 01:30pm
AWE posts solid first half profit
Australian Worldwide Exploration Ltd AWE has posted a solid first half profit despite the negative impact of lower oil prices and exceptional items. ...
Tue 24th February 2009 - 12:56pm
Rex Minerals Limited ASX-RXM Drilling Results from the Mt Carrington Gold-Silver Project
Melbourne- Australia- Feb 24- 2009 - ABN Newswire - Rex Minerals Limited ASX-RXM is pleased to announce the results from the first five drill holes completed at the Mt Carrington gold-silver Project in NSW. Significant shallow gold results were received from within the Kylo and Strauss gold deposits with highlights including- 55m - 2.2g-t gold and 0.8 zinc from 8m- incl. 18m - 3.9 g-t gold and 1. ...
Tue 24th February 2009 - 12:56pm
Court rules civil case against Lindberg should proceed
The Australian Securities and Investments Commission ASIC has lost a bid to delay its case against former AWB chief executive Andrew Lindberg. ...
Tue 24th February 2009 - 12:49pm
Aussie soft on gloomy global outlook bonds rise
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0037 GMTagainst previous Sydney close AUD 0.6410-140.6492-95 AUDNZDR1.2648-681.2653-83 AUDJPYR 60.46-53 60 ...
Tue 24th February 2009 - 12:44pm
Beach Petroleum Limited ASX-BPT More Than Doubles First Half Profit Confirming Underlying Earnings Strength
Perth- Australia- Feb 24- 2009 - ABN Newswire - The underlying strength of Beach Petroleum Limiteds ASX-BPTPINK-BEPTF expanding oil and gas operations is reflected in a more than doubling of net profit after tax announced today for the six months ended 31 December 2008.In a striking performance- Beachs net profit after tax jumped 117 to a record A $127.5 million from A $58.8 million in the previous corresponding opening half. ...
Tue 24th February 2009 - 12:38pm
Sun Resources NL ASX-SUR Drillin Update On Meek Prospect In Wharton County Texas
Perth- Australia- Feb 24- 2009 - ABN Newswire - Sun Resources NL ASX-SURPINK-SNRDF has been advised by the operator- Mueller Exploration Inc -amp quotMEI -amp quot- that the Ammann Heirs Gas Unit 1 well AHGU 1 on the Meek Prospect- in Wharton County of Southern Texas- was at 3031m on 22 February 2009. The current activity is conditioning the hole prior to running intermediate casing. ...
Tue 24th February 2009 - 12:37pm
Heatwave power performance defended
Part-owner of the electricity distributor ETSA- Spark Infrastructure- says it performed well during heat-related load shedding last month. ...
Tue 24th February 2009 - 12:29pm
Market dives to three-month low
Australian stocks have hit a new three-month low after Wall Street plunged to its lowest level in 12 years overnight. ...
Tue 24th February 2009 - 12:25pm
Sonic retains earnings guidance for 2009
Sonic Healthcare Ltd says its earnings guidance for 2009 remains unchanged- after the company booked a stronger first half profit on Tuesday. ...
Tue 24th February 2009 - 12:17pm
Battered Suncorp uncertain about chief
Suncorp-Metway Ltd has reported first-half profit declined by 32.8 per cent amid continued uncertainty about leadership of the banking and insurance firm. ...
Tue 24th February 2009 - 12:15pm
B -amp B Wind posts $88m H1 loss
Babcock -amp Brown Wind Partners Group has reported a first half net loss of $88.4 million- down from a loss of $4.46 million in the previous corresponding period. ...
Tue 24th February 2009 - 11:59am
Employers told to keep 'brightest' staff
Retaining skilled staff is the number one priority for businesses during the global financial crisis- a survey says. ...
Tue 24th February 2009 - 11:45am
BHP Billiton worker killed by train
A worker has died after being hit by a train on a BHP Billiton rail line in the Pilbara region of Western Australia. ...
Tue 24th February 2009 - 11:43am
Melba meltdown may effect firefighters
A textiles company that supplies protective fabrics to the armed services and firefighters has been placed in voluntary administration- with jobs under threat. ...
Tue 24th February 2009 - 11:39am
Market down 1pc after Wall Street plunge
The Australian share market is trading more than 1 per cent lower after concerns about the US financial sector sent Wall Street stocks to a 12-year low overnight. ...
Tue 24th February 2009 - 11:19am
Sonic retains earnings guidance for 2009
Sonic Healthcare Ltd says its earnings guidance for 2009 remains unchanged- after the company booked a stronger first half profit on Tuesday. ...
Tue 24th February 2009 - 10:55am
eServGlobal Limited ASX-ESV Half Year Report And Directors Review Of Operations For 31 December 2008
Sydney- Australia- Feb 24- 2009 - ABN Newswire - eServGlobal Limited LSE-ESGASX-ESV is a public company listed on the Australian Stock Exchange and the London Stock Exchange AIM. Along with its Head Office in Sydney- Australia- the eServGlobal group has operations worldwide. ...
Tue 24th February 2009 - 10:53am
M4 East motorway still on the table
The Federal Government has denied that it was pushed to withdraw its support for a $12 billion plan to extend Sydneys M4 motorway. ...
Tue 24th February 2009 - 10:49am
Murdoch's right hand man departs- report
Rupert Murdoch's right had man Peter Chernin is leaving News Corp- reports from the US say. ...
Tue 24th February 2009 - 10:37am
JPMorgan Chase slashes dividend to save cash
NEW YORK AFP - US banking giant JPMorgan Chase said Monday it was drastically cutting its dividend payments to shareholders to save an estimated five billion dollars in capital per year. ...
Tue 24th February 2009 - 10:24am
Aussie dollar lower on bank woes bonds firm
SYDNEY- Feb 24 - The Australian dollar AUD fell on Tuesday as investors dodged riskier currencies amid worries the problems of the crippled banking sector would not be resolved even with the latest U.S. government plans. ...
Tue 24th February 2009 - 10:24am
Australia shares extend slide on Wall St losses
SYDNEY- Feb 24 - Australian stocks fell 1.3 percent on Tuesday after fresh financial sector worries saw Wall Street stocks plumb a 12-year low. ...
Tue 24th February 2009 - 10:15am
Oil Search reports 70pc profit rise
Oil and gas producer Oil Search has reported a 70 per cent rise in full-year profit driven by record high oil prices last year- before the global financial crisis hit. ...
Tue 24th February 2009 - 10:14am
Obama vows to halve massive budget deficit
WASHINGTON AFP - President Barack Obama Monday vowed to halve by 2013 the huge budget deficit bequeathed by the Bush White House- warning inaction would leave Americans wallowing in debt and thwarted dreams. ...
Tue 24th February 2009 - 10:13am
Labor rejects any blame for hike in electricity prices
The West Australian Opposition Leader- Eric Ripper- has rejected claims Labors break-up of Western Power four years ago is to blame for massive price hikes in electricity prices. ...
Tue 24th February 2009 - 09:57am
Genentech board rejects Roche offer
WASHINGTON AFP - US biotech firm Genentech said Monday its board urged shareholders to reject a takeover offer from Swiss pharmaceutical group Roche as -amp quotinadequate and not in the best interests of stockholders. -amp quot ...
Tue 24th February 2009 - 09:53am
Storm meltdown takes toll on self-funded retirees
An investors support group says the collapse of Storm Financial Services has devastated thousands of self-funded retirees in regional Queensland. ...
Tue 24th February 2009 - 09:43am
Suncorp profits fall by a third
Banking and insurance group Suncorp-Metway says its half-year profit has fallen by a third- reflecting the challenging global economic environment. ...
Tue 24th February 2009 - 09:38am
Pokie makers profits halved
Australian gaming company Aristocrat Leisure says its full-year profit has more than halved because of a slump in revenue and rising costs. ...
Tue 24th February 2009 - 09:36am
Problem gambler laws threaten casino- owner
SkyCity Casino says tougher measures against known problem gamblers in South Australia could make its business unviable. ...
Tue 24th February 2009 - 09:19am
Telstra technicians strike
Telstra technicians are refusing to perform maintenance work on the telephone and computer data system in an ongoing dispute over a wage claim. ...
Tue 24th February 2009 - 08:46am
Gold Coast to spend $200m on stimulus projects
The Gold Coast City Council will fast-track spending to stimulate the local economy. ...
Tue 24th February 2009 - 08:38am
Wall St dives to 12-year low
Wall Street shares plunged to their lowest close in 12 years this morning- with the Dow Jones losing 3.4 per cent and the Nasdaq 3.7 per cent down at the closing bell. ...
Tue 24th February 2009 - 08:37am
Australia shares seen tracking Wall Street drop
Stock index futures for March fell 2.3 percent to 3-351.2- or 68.2 points below the benchmark S -amp ampP-ASX 200 index JO. The index fell 1.5 percent on Monday to a one-month low. ...
Tue 24th February 2009 - 08:34am
Contact Energy reports fall in earnings
Contact Energy reported a 31 per cent fall in half-year underlying earnings after tax to $NZ79.9 million $A63.37 million. ...
Tue 24th February 2009 - 08:33am
Oil settles below $39 as stock markets retreat
NEW YORK- Feb 23 - Oil prices settled below $39 a barrel on Monday as investors worried about the weak economy and Wall Street stocks dropped. ...
Tue 24th February 2009 - 08:16am
Microsoft screws up worker severance pay
A few weeks after launching the first wide-scale layoffs in its history- Microsoft Corp admits it screwed up a key part of the plan. ...
Tue 24th February 2009 - 07:55am
Fiat unveils massive incentive plan for top management
MILAN AFP - Italian automaker Fiat will award two million free shares to chief executive officer Sergio Marchionne over 2009 and 2010 if he meets specific performance criteria- the company announced Monday. ...
Tue 24th February 2009 - 07:45am
Oil settles below $39 as stock markets retreat
NEW YORK- Feb 23 - Oil prices settled below $39 a barrel on Monday as investors worried about the weak economy and Wall Street stocks dropped. ...
Tue 24th February 2009 - 07:40am
US probe 'ignores Swiss sovereignty'
Banking giant UBS has accused the United States government of ignoring Swiss sovereignty and forcing its employees to break the law. ...
Tue 24th February 2009 - 07:40am
RBS shares jump on restructuring report
Shares in Royal Bank of Scotland rose sharply following reports that the troubled bank plans a major restructuring that would see 20-000 jobs cut. ...
Tue 24th February 2009 - 07:37am
FT offer staff three-day working week
The Financial Times in Britain- will offer staff the chance to work three days a week over the northern summer as part of its drive to cut costs. ...
Tue 24th February 2009 - 07:25am
Vattenfall offer $A17b for Dutch Nuon
Swedish energy group Vattenfall said it had made a friendly 8.5 billion euros offer for Nuon in a merger aimed at creating a leading European energy group. ...
Tue 24th February 2009 - 07:20am
US unveil plans to keep banks private
US authorities have unveiled details of a new aid plan for struggling banks but with a -amp quotstrong presumption -amp quot that financial firms -amp quotremain in private hands -amp quot. ...
Tue 24th February 2009 - 07:19am
Oil hovers near $US40 amid weak demand
Oil prices hovered near $US40 a barrel in Asia as investors weighed a deepening US recession against signs that OPEC production cuts are eroding supply. ...
Tue 24th February 2009 - 07:17am
Henry urges tax system overhaul despite slowdown
Treasury secretary Ken Henry has urged the Federal Government and the business sector not to be discouraged from implementing significant tax reforms because of the current economic downturn. ...
Tue 24th February 2009 - 06:44am
Oil drops $1 as stock markets retreat
NEW YORK- Feb 23 - Oil prices fell more than $1 to below $39 a barrel on Monday as investors worried about the weak economy and Wall Street stocks dropped. ...
Tue 24th February 2009 - 05:52am
Opel needs European aid- works council member
BERLIN AFP - Opel- the German subsidiary of US car maker General Motors- will require European state aid to survive- the head of its works council said Monday amid reports the firm could go under with the loss of 25-000 jobs. ...
Tue 24th February 2009 - 05:40am
OPEC faces extreme difficulty to lift oil prices- CGES
LONDON AFP - The OPEC cartel will find it -amp quotextremely difficult -amp quot to boost oil prices by cutting output because of the uncertain economic climate- energy consultancy CGES said on Monday. ...
Tue 24th February 2009 - 05:28am
Dollar falls against euro on US bank fears
LONDON AFP - The dollar fell Monday against the euro as reports that Washington may have to partially nationalise some ailing banks stoked fears over the depth of the global financial crisis. ...
Tue 24th February 2009 - 05:17am
Total subsidiary in dock over deadly chemicals blast
TOULOUSE- France AFP - Hearings began Monday as a subsidiary of oil giant Total went on trial over a chemical plant blast that left 30 dead and devastated 30-000 homes in Frances worst post-war industrial disaster. ...
Tue 24th February 2009 - 04:11am
Energy co. Vattenfall makes 8.5 bln euro offer for Nuon
STOCKHOLM AFP - Swedish power company Vattenfall said Monday it had made a friendly 8. ...
Tue 24th February 2009 - 03:45am
Oil slips below $40 as U.S. stocks retreat
LONDON- Feb 23 - Oil slipped below $40 a barrel on Monday as the U.S. stock market retreated despite a report that the U.S. government was in talks on increasing its stake in Citigroup. ...
Tue 24th February 2009 - 02:57am
EU proposal to end banana trade dispute
GENEVA AFP - The European Union has made a fresh proposal to Latin American banana producers in a bid to end a decade-old dispute over the blocs banana import policies- sources close to the WTO said Monday. ...
Tue 24th February 2009 - 02:19am
Car industry 'needs to reinvent itself'
Australia's car industry must use the global economic crisis to reinvent itself- GM Holden chairman and managing director Mark Reuss says. ...
Tue 24th February 2009 - 02:11am
Energy co. Vattenfall to buy Nuon for 8.5 bln euros
STOCKHOLM AFP - Swedish power company Vattenfall said Monday it had made a friendly 8. ...
Tue 24th February 2009 - 01:42am
French state loans will back banking merger
PARIS AFP - The French government is to provide 2.5-5. ...
Tue 24th February 2009 - 01:28am
European economies agree need for greater regulation
BERLIN- Germany AFP - The heads of Europes largest economies agreed Sunday on the need for greater regulation of stock markets and to double the IMFs funding in order to avoid a repeat of the finance crisis. ...
Tue 24th February 2009 - 01:21am
Govt may still need Telstra for broadband rollout- Minchin
Federal Opposition telecommunications spokesman Nick Minchin believes the Government may still need Telstra to deliver the national broadband network. ...
Tue 24th February 2009 - 01:11am
Oil rises above $40- Citi stake report supports
LONDON- Feb 23 - Oil rose above $40 a barrel on Monday- recovering from earlier losses- after sentiment was lifted by a report the U.S. government was in talks on increasing its stake in Citigroup. ...
Tue 24th February 2009 - 12:25am
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