Finance News, Monday 28th March 2011
Rio to announce Riversdale plans
Shares in coal miner Riversdale Mining Ltd have gone into a trading halt on the Australian Securities Exchange pending an announcement from Rio Tinto Ltd about its takeover offer.Rio Tinto says it expects ... ...Mon 28th March 2011 - 11:57pm
Greens in threat to company tax cut
The Government has pledged to press on with a cut to company tax despite opposition from the Greens that threatens to derail the Governments mining tax strategy.The mining tax- negotiated between ... ...Mon 28th March 2011 - 11:55pm
Greens in threat to company tax cut
The Government has vowed to press on with a cut to company tax despite opposition from the Greens which threatens to derail its mining tax strategy.The mining tax- negotiated between the Government and ... ...Mon 28th March 2011 - 11:51pm
Cash still king- cheques get bounced
A Reserve Bank study has shown that debit and EFTPOS transactions are continuing to erode the use of cash- while the cheque is becoming a niche form of payment. Late last year the RBA got 1-200 people ... ...Mon 28th March 2011 - 11:49pm
Greens against company tax cut
The Government has vowed to press on with a cut to company tax despite opposition from the Greens which threatens to derail its mining tax strategy.The mining tax- negotiated between the Government and ... ...Mon 28th March 2011 - 11:44pm
JB Hi-Fi shared jump 6 per cent
Shares in JB Hi-Fi Ltd jumped six per cent after the discount audio-visual equipment and electrical retailer announced it would buy back up to 10 per cent of its stock.The stock gained 1.15- or 6.23 per ... ...Mon 28th March 2011 - 11:42pm
Hospital union says no staffing guarantees given
The union representing hospital support staff is dissatisfied with the response from the Government over plans to privatise health services at the Fiona Stanley Hospital. United Voice delegates met the ... ...Mon 28th March 2011 - 11:42pm
Hospital union says no guarantees on staffing given
The union representing hospital support staff is dissatisfied with the response from the Government over plans to privatise health services at the Fiona Stanley Hospital. United Voice delegates met the ... ...Mon 28th March 2011 - 11:41pm
Greens against company tax cut
The Government has vowed to press on with a cut to company tax despite opposition from the Greens which threatens to derail its mining tax strategy.The mining tax- negotiated between the Government and ... ...Mon 28th March 2011 - 11:25pm
Australia shares open 0.2 pct weaker- miners soft
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares open 0.2 pct weaker- miners soft ...Mon 28th March 2011 - 11:17pm
Race clubs licence suspended
Racing Queensland has suspended Bundaberg Race Clubs licence over financial concerns.It says the southern Queensland club is facing ongoing viability problems and a number of internal issues and racing ... ...Mon 28th March 2011 - 11:14pm
Coalition claims 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 10:52pm
Coalition claims 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 10:51pm
Japan- Nuclear Disaster Crunching Economy
Despite some optimism that Japan would bounce back quickly- there are now signs the recovery will take longer and the impact on the economy will be greater than expected. All those confident forecasts ... ...Mon 28th March 2011 - 10:47pm
Results- Sigma Looks For Upturn
Life after the near death experience in 2010 for Sigma Pharmaceuticals as the company reported another 12 month heap of red ink- but the shares rose. The company yesterday said it cut its loss for the ... ...Mon 28th March 2011 - 10:46pm
Results- And Nufarm Also Sees Better Times Ahead
No interim dividend from struggling rural products group- Nufarm- but at least the company lived up to last weeks improved earnings guidance. Last week it said that operating profit after tax and ... ...Mon 28th March 2011 - 10:45pm
Updates- Village Takes Cash- Gives Some Back
Good news for the minority shareholders in Village Roadshow VRL- with the company taking the money and running from Southern Cross Medias bid for Austereo and using the cash to make a capital return ... ...Mon 28th March 2011 - 10:44pm
Germany- Greens In Vote Shock
Germany is now back as the worlds biggest exporter- but for a country that should be outward looking and confident after surviving the credit crunch and global recession- its losing its way. ... ...Mon 28th March 2011 - 10:43pm
More radioactive water at Japan plant
Workers have discovered new pools of radioactive water leaking from Japans crippled nuclear plant that officials believe are behind soaring levels of radiation spreading to soil and seawater.Crews ... ...Mon 28th March 2011 - 10:34pm
JB Hi-Fi has reduced its profit guidance
JB Hi-Fi Ltd has reduced its full year profit guidance on a charge to restructure its discount electrical retailing brand Clive Anthonys- while also announcing a share buy-back.JB Hi-Fi said net profit ... ...Mon 28th March 2011 - 10:24pm
JB Hi-Fi has reduced its profit guidance
JB Hi-Fi Ltd has reduced its full year profit guidance on a charge to restructure its discount electrical retailing brand Clive Anthonys- while also announcing a share buy-back.JB Hi-Fi said net profit ... ...Mon 28th March 2011 - 10:19pm
Australia shares seen treading water- miners soft
MARKETS-AUSTRALIA-STOCKS-Australia shares seen treading water- miners soft ...Mon 28th March 2011 - 10:12pm
Website fined 930k for Beatles piracy
The owners of a California website that sold Beatles songs for 25 cents each before they went on sale legally through iTunes have agreed to pay the bands EMI Group label almost 930-000 to settle ... ...Mon 28th March 2011 - 10:12pm
JB Hi-Fi to conduct
JB Hi-Fi Ltd has reduced its full year profit guidance on a charge to restructure its discount electrical retailing brand Clive Anthonys- while also announcing a share buy-back.JB Hi-Fi said net profit ... ...Mon 28th March 2011 - 10:10pm
Coalition claims 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 10:03pm
Website fined 930k for Beatles piracy
The owners of a California website that sold Beatles songs for 25 cents each before they went on sale legally through iTunes have agreed to pay the bands EMI Group label almost 930-000 to settle ... ...Mon 28th March 2011 - 09:57pm
Dollar soars to fresh post-float high
The Australian dollar has broken US1.03 for the first time since 1982.The dollar is rising because investors appear to be betting that the rebuilding effort in Japan will be a boon for Australias ... ...Mon 28th March 2011 - 09:50pm
Libs fear timber jobs opportunity lost
There are fears job opportunities at Gunns Bell Bay sawmill in northern Tasmania will be missed because of a lack of wood supply.The Opposition says Forestry Tasmania is considering exporting 100-000 ... ...Mon 28th March 2011 - 09:42pm
Website fined 930k for Beatles piracy
The owners of a California website that sold Beatles songs for 25 cents each before they went on sale legally through iTunes have agreed to pay the bands EMI Group label almost 930-000 to settle ... ...Mon 28th March 2011 - 09:39pm
Website fined 930k for Beatles piracy
The owners of a California website that sold Beatles songs for 25 cents each before they went on sale legally through iTunes have agreed to pay the bands EMI Group label almost 930-000 to settle ... ...Mon 28th March 2011 - 09:38pm
Coalition claims 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 09:37pm
Outback council rejects energy supply deal
Coober Pedy Council is refusing to sign a contract for communities in its area to remain under a remote energy supply scheme.Mayor Steve Baines says the South Australian Government wants the council to ... ...Mon 28th March 2011 - 09:32pm
Outback council rejects energy supply deal
Coober Pedy Council is refusing to sign a contract for communities in its area to remain under a remote energy supply scheme.Mayor Steve Baines says the South Australian Government wants the council to ... ...Mon 28th March 2011 - 09:31pm
Coalition finds 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 09:02pm
Urban Taskforce calls for road and rail link upgrades
Developer lobby group- the Urban Taskforce is urging the Federal Government to upgrade rail and road links between Sydney and Newcastle in order to ease pressure on Sydney.In a report to be released today- ... ...Mon 28th March 2011 - 09:00pm
Coalition finds 4.5 billion hole in NSW budget
The new Coalition government has accused Labor of cooking the books like never before to hide a projected 4.5 billion hole in the New South Wales budget.Premier Barry OFarrell made the ... ...Mon 28th March 2011 - 08:35pm
American Express makes digital wallets
American Express on Monday launched an online financial transactions service that it claims goes beyond what others provide in a market dominated by PayPal.Serve went live in the United States ... ...Mon 28th March 2011 - 01:32pm
IMF skeptical of Iraq oil targets
The International Monetary Fund Monday expressed doubts over Iraqs ability to meet its long-term targets for oil production- currently the source of nearly 90 percent of government income.The IMF ... ...Mon 28th March 2011 - 01:12pm
Japan disaster to boost commodity prices- Scotiabank
Reconstruction in Japan following this months earthquake and tsunami is likely to boost prices for lumber- plywood- steel and other building materials- a leading Canadian bank said Monday.Scotiabank ... ...Mon 28th March 2011 - 10:46am
Sprint wants AT-ampT- T-Mobile deal blocked
Sprint Nextel- the third-largest US wireless provider- urged US regulators on Monday to block AT-ampTs 39 billion acquisition of T-Mobile USA- saying it would harm competition.Sprint urges the ... ...Mon 28th March 2011 - 10:45am
NY Times begins charging online readers
The New York Times began charging online readers Monday for full access to its website and dangled a heavily discounted introductory offer intended to lure its first digital subscribers.The Times is offering ... ...Mon 28th March 2011 - 10:24am
Japan disaster to boost commodity prices Scotiabank
Reconstruction in Japan following this months earthquake and tsunami is likely to boost prices for lumber- plywood- steel and other building materials- a leading Canadian bank said Monday.Scotiabank ... ...Mon 28th March 2011 - 09:29am
Lagardere signs contract with Hearst for magazines sale
French media group Lagardere said Monday it had signed a contract with US publisher Hearst to sell its international stable of magazines for 651 million euros 918 million.The deal for 102 titles in ... ...Mon 28th March 2011 - 08:53am
Tokyo nuclear operator seeking French help- minister
Tokyo Electric Power TEPCO- operator of Japans stricken Fukushima nuclear plant- is seeking help from France to tackle the critical situation- Industry Minister Eric Besson said Monday.TEPCO- ... ...Mon 28th March 2011 - 08:44am
Lawyer perplexed by Woodside withdrawing offer
The lawyer for a woman at the centre of a sex discrimination case against Woodside says he does not believe the company can withdraw its settlement offer.Simon Millman is representing former Woodside executive ... ...Mon 28th March 2011 - 08:18am
Post-oil transport needs 1.5-trillion-euro overhaul- EU
Europes transport network will need a 1.5-trillion-euro private sector overhaul to meet the needs of a post-oil world and slash carbon emissions- the European Commission said Monday.A new strategy ... ...Mon 28th March 2011 - 08:09am
Zimbabwe to take over all foreign-owned mining firms
All foreign-owned mining companies in Zimbabwe must sell majority stakes to locals within six months- under new rules released Monday that clouded the nations drive for foreign investment.The new ... ...Mon 28th March 2011 - 08:05am
Eurozone needs tougher penalties- Trichet
Eurozone member states who do not respect the blocs rules on debt and economic policy should face tougher penalties which should operate automatically- the European Central Bank head said Monday.ECB ... ...Mon 28th March 2011 - 07:32am
Post-oil transport needs 1.5-trillion-euro overhaul- EU
Europes transport network will need a 1.5-trillion-euro private sector overhaul to meet the needs of a post-oil world and slash carbon emissions- the European Commission said Monday.A new strategy ... ...Mon 28th March 2011 - 07:15am
Share market falls for first time in 6 days
A late slide in resource stocks led the share market into the red and snapped its six-day winning streak.The All Ordinaries ended down eight points to 4-831- while the ASX 200 fell nine points to 4-733.Mining ... ...Mon 28th March 2011 - 07:05am
Finance industry to lobby for 12pc super
The superannuation industrys peak body is launching a campaign to persuade the Federal Opposition and small business groups to back a three-percentage-point rise in the minimum super level. The Institute ... ...Mon 28th March 2011 - 07:02am
S-ampP warns of further Portuguese ratings downgrade
Standard -amp Poors warned Monday that it could further downgrade Portugals credit rating by a notch this week- after lowering it by two levels last week following the governments resignation.Based ... ...Mon 28th March 2011 - 06:53am
Australia shares stumble as miners slip on China concerns
MARKETS-AUSTRALIA-STOCKS UPDATE 4-Australia shares stumble as miners slip on China concerns ...Mon 28th March 2011 - 06:51am
Lagardere signs contract with Hearst for magazines sale
French media group Lagardere said Monday it had signed a contract with US publisher Hearst to sell its international stable of magazines for 651 million euros 918 million.The deal for 102 titles in ... ...Mon 28th March 2011 - 06:50am
Africa iron ore to hit Australias trade
Australia and Brazils dominance of global iron ore pricing could be broken by a Pilbara-sized west African mining region that could undermine the nations terms of trade- says Chicago-based economist ... ...Mon 28th March 2011 - 06:48am
Finance industry to lobby for 12pc super
The superannuation industrys peak body is launching a campaign to persuade the Federal Opposition and small business groups to back a 3 percentage point rise in the minimum super level. The Institute ... ...Mon 28th March 2011 - 06:00am
Farmers confident after rain- high prices
Farmers are feeling their highest level of optimism in three years- given widespread summer rain and favourable commodity prices- according to food and agribusiness bank Rabobank.Rabobank said that despite ... ...Mon 28th March 2011 - 05:50am
Sigma shares up 12- nearly halves FY loss
Shares in Sigma Pharmaceutical Ltd rose more than 12 per cent after the company said it had almost halved its full year net loss and forecast a return to profitability.The company behind Australian pharmacy ... ...Mon 28th March 2011 - 05:48am
State-owned Northern Rock cuts nearly 700 jobs
British bank Northern Rock- nationalised three years ago to avert financial meltdown- said Monday that it will axe almost 700 jobs by the end of 2011 as it looks to return to the private sector.The loss-making ... ...Mon 28th March 2011 - 05:35am
Nufarm expects better annual result
Agricultural chemicals supplier Nufarm Ltd says its earnings prospects for the rest of its 2011 financial year depend upon factors outside its control- but expects an improved result.Nufarm on Monday booked ... ...Mon 28th March 2011 - 05:30am
Australia shares end winning streak as BHP- Rio ease
MARKETS-AUSTRALIA-STOCKS UPDATE 3-Australia shares end winning streak as BHP- Rio ease ...Mon 28th March 2011 - 05:30am
eBay to buy GSI Commerce for 2.4 bn
Online auction giant eBay announced Monday that it has agreed to acquire GSI Commerce- a provider of electronic commerce and interactive marketing services- for 29.25 a share or 2.4 billion.The San Jose- ... ...Mon 28th March 2011 - 05:00am
Dollar near record- market loses ground
The Australian dollar is lurking just below record territory- but it looks like the local share market is set for a loss- after six days of gains.One Australian dollar was buying 102.65 US cents at 3-18pm ... ...Mon 28th March 2011 - 04:57am
S-ampP warns of further Portuguese ratings downgrade
Standard -amp Poors warned Monday that it could further downgrade Portugals credit rating by a notch this week- after lowering it by two levels last week following the governments resignation.Based ... ...Mon 28th March 2011 - 04:55am
Energy- food costs push up US consumer spending
US consumer spending rose in February- outpacing income growth- as Americans faced higher costs for energy and food- official data showed Monday.Consumer spending rose 0.7 percent from January- more than ... ...Mon 28th March 2011 - 04:55am
Woodside to defend sex discrimination claims
The energy company Woodside says it is prepared to defend a sex discrimination claim in court.Woodside has denied a former executives allegations that she was demoted after taking maternity leave.In ... ...Mon 28th March 2011 - 04:47am
Banks price war just PR- survey
Nearly half of existing or potential borrowers believe the price war between the major banks is no more than a publicity exercise and will do little to promote lasting competition.The four ... ...Mon 28th March 2011 - 04:10am
Vegie crops halved by deluge
Farmers counting the costs of last weeks torrential rain across northern Tasmania estimate they have lost up to half of their vegetable crops.Vegetable production will be well down this year and the ... ...Mon 28th March 2011 - 04:05am
Woodside to defend sex discrimination claims
The energy company Woodside says it is prepared to defend a sex discrimination claim in court.Woodside has denied a former executives allegations that she was demoted after taking maternity leave.In ... ...Mon 28th March 2011 - 04:03am
Plea for tourists to return
The St Helens community on Tasmanias east coast has been hit hard by an exodus of tourists from the area after last weeks floods.The local chamber of commerce is worried about the significant ... ...Mon 28th March 2011 - 03:55am
Dollar near record- market loses ground
The Australian dollar is lurking just below record territory- but it looks like the local share market is set for a loss- after six days of gains.One Australian dollar was buying 102.65 US cents at 3-18pm ... ...Mon 28th March 2011 - 03:43am
Australia shares ease as BHP- Nufarm- Aquarius fall Sigma rallies
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares ease as BHP- Nufarm- Aquarius fall Sigma rallies ...Mon 28th March 2011 - 03:42am
Nufarm expects better annual result
Agricultural chemicals supplier Nufarm Ltd says its earnings prospects for the rest of its 2011 financial year depend upon factors outside its control- but it expects an improved result.Nufarm booked a ... ...Mon 28th March 2011 - 03:05am
US consumer spending picks up
US consumers opened their wallets in February as spending accelerated in a sign that economic growth is strengthening- official data showed Monday.Consumer spending rose 0.7 percent from January- more ... ...Mon 28th March 2011 - 02:58am
State-owned bank Northern Rock to cut up more jobs
British bank Northern Rock- nationalised three years ago to avert financial meltdown- said Monday that it planned to cut up to 680 jobs by the end of 2011.The state-owned bank- which recently posted an ... ...Mon 28th March 2011 - 02:53am
Sigma surges on lower loss- special dividend
Sigma Pharmaceuticals net loss has narrowed- and it has pleased the market with a special dividend. The maker of the Amcal pharmaceuticals brands wrote-off 258 million during the past year relating ... ...Mon 28th March 2011 - 02:48am
Gillard philosophical about NSW drubbing
Prime Minister Julia Gillard has dismissed suggestions New South Wales voters have sent the Federal Government a stern warning about the proposed carbon tax.Instead Ms Gillard put Labors weekend drubbing ... ...Mon 28th March 2011 - 02:44am
Sigma almost halves full year net loss
Shares in Sigma Pharmaceutical Ltd rose more than 12 per cent after the company said it had almost halved its full year net loss.The net loss declined to 235.38 million for the year to January 31- 2011- ... ...Mon 28th March 2011 - 02:43am
Surging food prices increase farmer confidence
Surging commodity prices have boosted confidence among farmers to a three-year high.A survey has found the agricultural sectors confidence has been boosted by the breaking of the drought and strong ... ...Mon 28th March 2011 - 02:33am
Nufarm expects better annual result
Agricultural chemicals supplier Nufarm Ltd says its earnings prospects for the rest of its 2011 financial year depend upon factors outside its control- but it expects an improved result.Nufarm booked a ... ...Mon 28th March 2011 - 02:27am
Gillard philosophical about NSW drubbing
Prime Minister Julia Gillard has dismissed suggestions New South Wales voters have sent the Federal Government a stern warning about the proposed carbon tax.Ms Gillard put Labors weekend drubbing ... ...Mon 28th March 2011 - 02:27am
S-ampP warns of further Portuguese ratings downgrade
Standard -amp Poors warned Monday that it could further downgrade Portugals credit rating by a notch this week- after lowering it by two levels last week following the governments resignation.Based ... ...Mon 28th March 2011 - 02:08am
CSG industry the top of Greens election agenda
The Queensland Greens say the coal seam gas CSG industry will be the focus of their next state election campaign. There has been speculation Premier Anna Bligh will call an early poll after last weeks ... ...Mon 28th March 2011 - 01:53am
Dollar gains ground on Fed comments
The US dollar climbed further against the euro on Monday after a senior Federal Reserve official raised the prospect of higher interest rates in the worlds biggest economy- analysts said.In London ... ...Mon 28th March 2011 - 01:43am
European stocks steady awaiting key data
European stock markets steadied on Monday after a recent run higher- as traders geared up for the weeks major economic releases and set aside concerns over the eurozone debt crisis.Londons benchmark ... ...Mon 28th March 2011 - 01:36am
Banks price war just PR- survey
Nearly half of existing or potential borrowers believe the price war between the major banks is no more than a publicity exercise and will do little to promote lasting competition.The four ... ...Mon 28th March 2011 - 01:33am
S-ampP warns of further Portuguese ratings downgrade
Standard -amp Poors warned Monday that it could further downgrade Portugals credit rating by a notch this week- after lowering it by two levels last week following the governments resignation.Based ... ...Mon 28th March 2011 - 01:32am
Australia shares mixed as miners slide Woodside- Sigma strong
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares mixed as miners slide Woodside- Sigma strong ...Mon 28th March 2011 - 01:13am
Farmers confident after rain- high prices
The confidence of Australian farmers is at a three-year high as promising summer rainfall and favourable commodity prices continue to fuel optimism- a study has found.Sentiment among farmers rose for the ... ...Mon 28th March 2011 - 12:58am
Sigma almost halves full year net loss
Sigma Pharmaceutical Ltd has almost halved its full year net loss after announcing in December that a major supplier had withdrawn.The net loss declined to 235.38 million for the year to January 31- 2011 ... ...Mon 28th March 2011 - 12:14am
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