Finance News, Friday 7th January 2011
VW- Daimler post stellar 2010 sales
German automakers Daimler and Volkswagen have posted stellar 2010 sales figures- with emerging markets such as China seeing voracious demand for Mercedes-Benz- Audi and VW vehicles.VW- Europes biggest ... ...Fri 7th January 2011 - 11:23pm
Automaker Saab replaces key US executive
Saab Automobile AB has replaced its top executive in the United States- naming Matthias Seidl interim chief operating officer for Detroit-based Saab Cars North America effective immediately.Seidl replaced ... ...Fri 7th January 2011 - 10:32pm
China sets 1.5 bln box office record in 2010
Chinas film industry had a record year in 2010- grossing 10.17 billion yuan 1.5 billion at the box office- but domestic movies struggled against Hollywood blockbusters- according to state media.National ... ...Fri 7th January 2011 - 08:42pm
Twitter has no plans to sell or go public
Twitter- which has fended off several buyers- intends to remain an independent company and is not considering going public at the moment- chief executive Dick Costolo said.My sincere hope is for ... ...Fri 7th January 2011 - 07:33pm
Shanghai overtakes Singapore as worlds busiest port
Shanghai said it overtook Singapore for the first time in 2010 to become the worlds busiest container port- as the global economic recovery boosted cargo traffic through Chinas business centre.Shanghais ... ...Fri 7th January 2011 - 07:18pm
Saab Automobile AB replaces top US executive
Saab Automobile AB replaced its top executive in the United States- naming Matthias Seidl interim chief operating officer for Detroit-based Saab Cars North America effective immediately.Seidl replaced ... ...Fri 7th January 2011 - 06:49pm
Volkswagen says China sales hit record in 2010
German automaker Volkswagen said its sales in China- the worlds biggest vehicle market- soared 37 percent year-on-year in 2010 to an annual record of more than 1.9 million cars.In a statement on Friday ... ...Fri 7th January 2011 - 05:27pm
Ford unveils its first all-electric car
Ford unveiled its first strictly electric car on Friday- a Focus which is expected to get up to 100 miles 160 kilometers on a single charge and will be available in North America late this year.Alan ... ...Fri 7th January 2011 - 02:16pm
Ford unveils its first all-electric car
Ford unveiled its first strictly electric car on Friday- a Focus which is expected to get up to 100 miles 60 kilometers on a single charge and will be available in North America late this year.Alan Mulally- ... ...Fri 7th January 2011 - 01:51pm
China politics may block trade progress- US expert
The United States likely will face stiffer headwinds in resolving trade issues with China as the Asian power enters a period of leadership change- a US trade expert said Friday.Were probably ... ...Fri 7th January 2011 - 01:02pm
US unemployment tumbles to 9.4
US unemployment fell dramatically to 9.4 percent in December- a boon for President Barack Obama but one tempered by evidence the economy is still not creating enough jobs.Labor Department data showed the ... ...Fri 7th January 2011 - 11:19am
Renault suspects Chinese role in spy case
French automaker Renault suspects that top managers suspended for alleged industrial espionage were supplying details of the companys electric cars to China- a newspaper and officials said Friday.The ... ...Fri 7th January 2011 - 09:18am
Obama seeks inspiration from Clinton boom
US President Barack Obama Friday sought to channel the economic alchemy of the Clinton boom years- as he named policy veteran Gene Sperling to a top White House job.Obama also argued that current economic ... ...Fri 7th January 2011 - 08:56am
Residential gas outcry
The company rolling out Tasmanias natural gas network is frustrated by the state governments decision to stop funding residential connections- and it does not appear residents are letting the ... ...Fri 7th January 2011 - 08:49am
Ghost town fears
Uncertainty about a bypass on Tasmanias Midland highway at Bagdad is taking its toll on the small community.The proposal has been talked about for 30 years but a recent consultation process has again ... ...Fri 7th January 2011 - 08:43am
Ghost town fears
Uncertainty about a bypass on Tasmanias Midland highway at Bagdad is taking its toll on the small community.The proposal has been talked about for 30 years but a recent consultation process has again ... ...Fri 7th January 2011 - 08:40am
Ghost town fears
Uncertainty about a bypass on Tasmanias Midland highway at Baghdad is taking its toll on the small community.The proposal has been talked about for 30 years but a recent consultation process has again ... ...Fri 7th January 2011 - 08:30am
Spanish- Portuguese bond rates rise on debt worry
Interest rates demanded by lenders to buy Spanish and Portuguese debt rose sharply to record high levels on Friday on renewed European market tensions over public finances in the two countries.The rates ... ...Fri 7th January 2011 - 08:11am
Obama seeks inspiration from Clinton boom
US President Barack Obama Friday sought to channel the economic alchemy of the Clinton boom years- as he named policy veteran Gene Sperling to a top White House job.Obama also argued that current economic ... ...Fri 7th January 2011 - 08:09am
NBN Co discussions with Telstra ongoing
The head of the government-funded company charged with building Australias national broadband network NBN says negotiations with Telstra Corporation Ltd are continuing.NBN Co chief executive Mike ... ...Fri 7th January 2011 - 07:45am
Residential gas outcry
The company rolling out Tasmanias natural gas network is frustrated by the state governments decision to stop funding residential connections- and it does not appear residents are letting the ... ...Fri 7th January 2011 - 07:41am
Supermarkets may take flood-damaged produce
Major supermarket chains are considering relaxing their standards to allow damaged fruit and vegetables to be sold in their stores.Coles says it is changing 100 standards to allow for weather-damaged goods- ... ...Fri 7th January 2011 - 07:37am
Residential gas outcry
The company rolling out Tasmanias natural gas network is frustrated by the state governments decision to stop funding residential connections- and it does not appear residents are letting the ... ...Fri 7th January 2011 - 07:34am
S.Korea confident Spain to emerge from crisis
South Korean Prime Minister Kim Hwang-Sik said Friday he is confident Spain will recover from its economic crisis- during talks with his Spanish counterpart- the Spanish government said.Kim told Prime ... ...Fri 7th January 2011 - 07:29am
Residential gas outcry
The company rolling out Tasmanias natural gas network is frustrated by the state governments decision to stop funding residential connections- and it does not appear residents are letting the ... ...Fri 7th January 2011 - 07:26am
UN warns record food prices put millions at risk
The United Nations warned Friday millions of people are at risk after global food prices hit their highest level ever- as clashes over rising prices erupted in Algeria this week.Surging prices for cooking ... ...Fri 7th January 2011 - 07:18am
European stocks close lower
European stock markets fell on Friday- with Londons FTSE 100 index of leading shares closing down 0.59 percent at 5-984.33 points.In Paris- the CAC 40 dropped 1.0 percent to 3-865.58 points and in ... ...Fri 7th January 2011 - 06:53am
Floods leave investors on the sidelines
Much of the markets attention today was concentrated on the Queensland floods situation as investors worried about the cost to the economy.AMP Capital chief market economist Shane Oliver expects the ... ...Fri 7th January 2011 - 06:51am
Renault suspects Chinese role in spy case
French automaker Renault suspects that top managers suspended for alleged industrial espionage were supplying details of the companys electric cars to China- a newspaper and officials said Friday.The ... ...Fri 7th January 2011 - 06:50am
Floods leave investors on the sidelines
Much of the markets attention today was concentrated on the Queensland floods situation as investors worried about the cost to the economy.Chief market economist at AMP Capital Shane Oliver expects ... ...Fri 7th January 2011 - 06:43am
Greece to issue six-month T-bills on January 11
Greece on Friday said it would issue next week a batch of six-month treasury bills worth 1.5 billion 1.97 billion- its largest offering in months amid a planned bond comeback this year.On January ... ...Fri 7th January 2011 - 06:34am
Floods leave investors on the sidelines
Much of the markets attention today was concentrated on the Queensland floods situation as investors worried about the cost to the economy.Chief market economist at AMP Capital Shane Oliver expects ... ...Fri 7th January 2011 - 06:31am
Spanish- Portuguese bond rates rise on debt worry
Interest rates demanded by lenders to fund Spanish and Portuguese debt rose sharply to record high levels on Friday on renewed European bond market tension over public finances in these two countries.The ... ...Fri 7th January 2011 - 06:24am
German industrial output- retail sales decline
Germanys powerful economy paused for breath in November when industrial output and retail sales declined but it remained on track for more growth this year- officials and analysts said on Friday.The ... ...Fri 7th January 2011 - 05:44am
Ugg retailer faces court for fooling customers
The competition watchdog is taking legal action against an online retailer for claiming the ugg boots it sells are made locally when they are made in China.The Australian Competition and Consumer Commission ... ...Fri 7th January 2011 - 05:42am
Renault suspects Chinese role in spy case
French automaker Renault suspects that top managers suspended for alleged industrial espionage were supplying details of the companys electric cars to China- a newspaper and officials said Friday.The ... ...Fri 7th January 2011 - 05:41am
Australia shares close weaker as floods- metal prices hit miners
MARKETS-AUSTRALIA-STOCKS UPDATE 3-Australia shares close weaker as floods- metal prices hit miners ...Fri 7th January 2011 - 05:33am
NBN boss denies involvement in fraud case
The head of the National Broadband Network NBN has denied any involvement in the fraud at French telecommunications company Alcatel-Lucent- where he was a senior executive.Mike Quigley worked for the ... ...Fri 7th January 2011 - 05:33am
CSR to return 800m to shareholders
CSR Ltd shareholders will receive 800 million from the 1.8 billion raised by the sale of the companys Sucrogen and Asian businesses.Shares in the 155-year-old company jumped 6.5 cents- or 3.94 per ... ...Fri 7th January 2011 - 05:23am
Ugg retailer faces court for fooling customers
The competition watchdog is taking legal action against an online retailer for claiming the Ugg boots it sells are made locally- when they are made in China.The Australian Competition and Consumer Commission ... ...Fri 7th January 2011 - 05:12am
Retailers launch online campaign to rival Harvey
A rival group to Gerry Harveys Retail Coalition has been created to lobby the Federal Government over taxes on overseas online purchases. The Fair Imports Alliance counts the Retailers Association ... ...Fri 7th January 2011 - 05:11am
NBN boss denies involvement in fraud case
The head of the National Broadband Network NBN has denied any involvement in the fraud at French telecommunications company Alcatel-Lucent- where he was a senior executive.Mike Quigley worked for the ... ...Fri 7th January 2011 - 05:04am
VW- Daimler post stellar 2010 auto sales
German automakers Daimler and Volkswagen posted stellar 2010 sales figures Friday- with emerging markets such as China seeing voracious demand for Mercedes-Benz- Audi and VW vehicles.VW- Europes biggest ... ...Fri 7th January 2011 - 04:55am
Long term ports planning welcomed
The Fremantle Mayor has welcomed the Federal Governments new ports strategy which aims to protect transport corridors.The Prime Minister Julia Gillard and the Minister for Transport and Infrastrucutre ... ...Fri 7th January 2011 - 04:25am
Long term ports planning welcomed
The Fremantle Mayor has welcomed the Federal Governments new ports strategy which aims to protect transport corridors.The Prime Minister Julia Gillard and the Minister for Transport and Infrastrucutre ... ...Fri 7th January 2011 - 04:23am
Long term ports planning welcomed
The Fremantle Mayor has welcomed the Federal Governments new ports strategy which aims to protect transport corridors.The Prime Minister Julia Gillard and the Minister for Transport and Infrastrucutre ... ...Fri 7th January 2011 - 04:10am
US unemployment tumbles to 9.4
US unemployment fell sharply to 9.4 percent in December- its lowest level since May 2009- the Labor Department said Friday.The economy created 103-000 jobs- much less than expected- but the unemployment ... ...Fri 7th January 2011 - 03:59am
Retailers launch online campaign to rival Harvey
A rival group to Gerry Harveys Retail Coalition has been created to lobby the Federal Government over taxes on overseas online purchases. The Fair Imports Alliance counts the Retailers Association ... ...Fri 7th January 2011 - 03:44am
US unemployment tumbles to 9.4
US unemployment fell dramatically to 9.4 percent in December- its lowest level since May 2009- the Labor Department said Friday.The economy created 103-000 jobs- slightly less than expected- but the unemployment ... ...Fri 7th January 2011 - 03:39am
Ports Australia boss backs new strategy
The peak body for port organisations across Australia says the Federal Governments new ports strategy is essential to encourage private investment.The strategy released today aims to protect transport ... ...Fri 7th January 2011 - 03:30am
Oil prices mixed before US data
Oil prices diverged on Friday as a stronger dollar made the commodity more expensive and doubts emerged over sustained energy demand- ahead of more crucial economic data in the United States.Brent North ... ...Fri 7th January 2011 - 03:24am
Harveys online campaign bullying the Government
A rival group to Gerry Harveys Retail Coalition has been created to lobby the Government over taxes on overseas online purchases. The Fair Imports Alliance counts the Retailers Association as ... ...Fri 7th January 2011 - 02:57am
Retailers launch online campaign to rival Harveys
A rival group to Gerry Harveys Retail Coalition has been created to lobby the Government over taxes on overseas online purchases. The Fair Imports Alliance counts the Retailers Association as ... ...Fri 7th January 2011 - 02:56am
NBN Co discussions with Telstra ongoing
The head of the government funded company charged with responsibility for building the national broadband network says discussions with Telstra are continuing.NBN Co Chief Executive Mike Quigley says the ... ...Fri 7th January 2011 - 02:55am
NBN Co discussions with Telstra ongoing
The head of the government funded company charged with responsibility for building the national broadband network says discussions with Telstra are continuing.NBN Co Chief Executive Mike Quigley says the ... ...Fri 7th January 2011 - 02:41am
Ireland says will resume debt sales when possible
Ireland will resume borrowing on international money markets as soon as conditions permit- the chief executive of the countrys debt management agency said on Friday.The National Treasury Management ... ...Fri 7th January 2011 - 02:37am
German industrial output- retail sales decline
Germanys recovering economy paused for breath in November when industrial output and retail sales delined- but remained on track for more growth this year- officials and analysts said on Friday.The ... ...Fri 7th January 2011 - 02:13am
Germany closes 4-700 farms in dioxin scare
A food crisis in Germany deepened on Friday as around 4-700 farms were closed after tests showed animal feed contaminated by a cancer-causing chemical- with officials saying they suspected foul play.And ... ...Fri 7th January 2011 - 02:10am
European stocks dip before crucial US data
Europes main stock markets fell on Friday- with miners suffering fresh losses- as investors were cautious ahead of eagerly-awaited US unemployment figures- dealers said.Londons FTSE 100 index ... ...Fri 7th January 2011 - 02:07am
Obama names Sperling to top economic job
US President Barack Obama will on Friday tap expertise polished in the fondly remembered Clinton-era economic boom years with the choice of policy veteran Gene Sperling for a top White House job.The move ... ...Fri 7th January 2011 - 01:51am
UN food agency warns on rising food costs
The UN food agency FAO on Friday warned of a worrying rise in food prices which will affect millions of people following unexpected shortfalls in major cereals owing to bad weather in 2010.Prices ... ...Fri 7th January 2011 - 01:48am
WorkSafe considering donga death probe
Worksafe says it is yet to decide if it will launch an investigation into the death of a worker in a donga at a Woodside camp in Karratha.The body of the 55-year-old contractor- who worked for AGC- was ... ...Fri 7th January 2011 - 01:43am
Dollar rises before key US jobs data
The dollar rose against the euro on Friday ahead of key US jobs data which may confirm solid economic recovery in the worlds biggest economy.In morning deals here- the European single currency fell ... ...Fri 7th January 2011 - 01:42am
Germany closes 4-700 farms in dioxin scare
A food scandal in Germany deepened Friday- as regional authorities shut down more than 4-700 farms after tests showed animal feed had been contaminated by a chemical that can cause cancer.And fears grew ... ...Fri 7th January 2011 - 01:32am
More port industrial action on the cards
There could be more industrial action by stevedores at Albanys port as they try to negotiate a new wage agreement. Last week- workers at Albany port went on strike for 48 hours- demanding increased ... ...Fri 7th January 2011 - 01:28am
Obama names Sperling to top economic job
US President Barack Obama will on Friday name veteran Clinton-era policy expert Gene Sperling to a top White House economic job- in the latest stage of a staff reshuffle- officials said.The move will be ... ...Fri 7th January 2011 - 01:08am
Eurozone third quarter growth revised down to 0.3
Eurozone growth slowed more than expected in eurozone countries in the third term- to 0.3 percent rather than 0.4 percent in a third revised estimate released by the EUs data office on Friday.In the ... ...Fri 7th January 2011 - 01:04am
Bundabergs economic recovery could take years
The Bundaberg Council says it could be years before the regions economy can return to normal.The councils economic recovery group met yesterday for the first time to discuss plans on restoring ... ...Fri 7th January 2011 - 01:04am
Eurozone official unemployment stuck at 10.1
Unemployment across the 16 nations that share the euro was stuck at a historic high level of 10.1 percent in November- European Union data showed on Friday.More than 15.9 million people were out of work ... ...Fri 7th January 2011 - 12:59am
Australia shares down 0.5 pct- flood concerns weigh
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares down 0.5 pct- flood concerns weigh ...Fri 7th January 2011 - 12:55am
Cubans fret as massive job cuts get under way
Leticia Albert is a nurse at a Havana geriatrics center- pulling in just enough to keep her family afloat and worrying what the future will hold if her job will be next on the chopping block.Whats ... ...Fri 7th January 2011 - 12:50am
Cubans fret as massive job cuts get under way
Leticia Albert is a nurse at a Havana geriatrics center- pulling in just enough to keep her family afloat and worrying what the future will hold if her job will be next on the chopping block.Whats ... ...Fri 7th January 2011 - 12:44am
Ports plan intended to clear bottlenecks
The Federal Government says its national ports strategy will help boost productivity and deal with some of the bottlenecks that are restricting exports.The strategy- due to be released today- will propose ... ...Fri 7th January 2011 - 12:42am
Flood victims lodge thousands of claims
The Insurance Council of Australia says more than 4-000 damages claims have already been lodged from the Queensland flood crisis. Most are from Bundaberg and Emerald.Council spokesman Paul Giles says the ... ...Fri 7th January 2011 - 12:41am
Ranger uranium scare not isolated
The Greens say a uranium scare in Kakadu National Park is evidence mining there should not be allowed to expand. Part of the Arnhem Highway in Kakadu National Park was blocked for three hours yesterday ... ...Fri 7th January 2011 - 12:18am
Cautious optimism ahead of US jobless numbers
Hopes are high that fresh US labor data released on Friday will show a rejuvenated jobs market- but experts warn it may be too soon to declare the jobless recovery over.The Labor Department will publish ... ...Fri 7th January 2011 - 12:14am
CSR shareholders benefit from sugar sale
CSR shareholders are to receive some of the proceeds from the sale of the building products groups sugar business.The company says this will take the form of an 800 million capital return and special ... ...Fri 7th January 2011 - 12:10am
Fitch says flood impact manageable
Fitch Ratings says it expects the Queensland government to be able to manage the financial impact of the worst floods in the state in more than 50 years.The gross cost of rebuilding damaged public assets ... ...Fri 7th January 2011 - 12:07am
German imports hit all time high in November
German imports hit a record high level in November- slashing the national trade surplus as a global recovery drove up prices for oil and other commodities- official data showed on Friday.Imports soared ... ...Fri 7th January 2011 - 12:05am
Harvey not backing down from online fight
Retailer Gerry Harvey says he is not stepping down from the campaign to have a GST placed on overseas online purchases.Newspaper reports suggested he was retreating from the tax fight because of the criticism ... ...Fri 7th January 2011 - 12:03am
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