Finance News, Friday 8th April 2011
Icelanders vote on Icesave repayment deal
About 230-000 Icelandic voters went to the polls Saturday to approve or reject a renegotiated deal to compensate Britain and the Netherlands over the 2008 collapse of Icesave bank.The latest opinion polls ... ...Fri 8th April 2011 - 11:52pm
Talks to resume after port strike averted
The Maritime Union of Australia and the countrys largest provider of port services- Patrick Stevedores- will again sit down and negotiate a pay dispute after the union decided to call off todays ... ...Fri 8th April 2011 - 10:57pm
Talks to resume after port strike averted
The Maritime Union of Australia and the countrys largest provider of port services- Patrick Stevedores- will again sit down and negotiate a pay dispute after the union decided to call off todays ... ...Fri 8th April 2011 - 10:54pm
Google leaps into the travel market
Google won US government clearance with restrictions for its US700 million A670.18 million purchase of airline fare tracker ITA Software in a deal that will give the internet search giant a key role ... ...Fri 8th April 2011 - 10:48pm
Talks to resume after port strike averted
The Maritime Union of Australia and the countrys largest provider of port services- Patrick Stevedores- will again sit down and negotiate a pay dispute after the union decided to call off todays ... ...Fri 8th April 2011 - 10:34pm
US lawmakers reach deal to avert govt shutdown
A dramatic eleventh-hour deal slashing spending staved off a US government shutdown- ending a rancorous budget row between President Barack Obama and newly empowered Republicans.Party leaders clinched ... ...Fri 8th April 2011 - 09:12pm
Toshiba could decommission Japan reactors
Reactor maker Toshiba has told the government it could decommission four stricken units at Japans crippled nuclear plant in around 10 years- a report said.The time frame is around two-thirds of that ... ...Fri 8th April 2011 - 07:43pm
US lawmakers reach deal to avert govt shutdown
A dramatic eleventh-hour deal staved off a damaging US government shutdown- busting a rancorous budget stalemate between President Barack Obama and his newly empowered Republican foes.Party leaders clinched ... ...Fri 8th April 2011 - 07:14pm
US lawmakers reach deal to avert govt shutdown
A dramatic eleventh-hour deal staved off a damaging US government shutdown- busting a rancorous budget stalemate between President Barack Obamas and his newly empowered Republican foes.Party leaders ... ...Fri 8th April 2011 - 06:08pm
Obama- foes- ink deal to avert govt shutdown
A dramatic eleventh-hour deal staved off a damaging US government shutdown- busting a rancorous budget stalemate between President Barack Obamas and his newly empowered Republican foes.Party leaders ... ...Fri 8th April 2011 - 06:02pm
Top US lawmaker announces deal to avert shutdown
US House Speaker John Boehner told fellow Republicans he had reached a deal with the White House to avert a government shutdown with barely more than an hour to spare- officials said.We have a deal- ... ...Fri 8th April 2011 - 05:30pm
Top US lawmaker announces budget deal
US House Speaker John Boehner told fellow Republicans he had reached a deal with the White House to avert a government shutdown with barely more than an hour to spare- officials said.We have a deal- ... ...Fri 8th April 2011 - 05:22pm
Nissan makes temporary production cuts in Mexico
Nissan Motor Co. plans to close for up to 15 days its two assembly plants in Mexico because of a shortage of parts from Japan after the March 11 earthquake and tsunami- the company said.The Japanese auto ... ...Fri 8th April 2011 - 05:16pm
US government on brink of shutdown
Intense last-minute wrangling gripped Washington- with the US government mere hours from shutting down as a dramatic budget standoff threatened to provoke a far reaching political crisis.Newly empowered ... ...Fri 8th April 2011 - 04:52pm
Toyota reduces N.America production- cites quake
Toyota announced that it will suspend production in its North American plants for several days this month because of problems supplying parts from earthquake-rattled Japan.The Japanese automobile manufacturer ... ...Fri 8th April 2011 - 04:40pm
Googles 700 million ITA buy cleared with conditions
Googles entry into the online travel sector was cleared for takeoff as the US Justice Department gave the green light to its 700 million purchase of flight data company ITA Software.The Justice Departments ... ...Fri 8th April 2011 - 04:23pm
US government on brink of shutdown
The US government was on the brink of a damaging shutdown Friday after President Barack Obamas Democrats and newly empowered Republicans accused one another of sabotaging a crucial budget deal.After ... ...Fri 8th April 2011 - 02:39pm
Japan crisis slows auto production further
Japanese automakers are being forced to extend US production slowdowns because of a lack of parts coming from the quake and tsunami-stricken nation- two firms said Friday.Toyota announced they would suspend ... ...Fri 8th April 2011 - 12:51pm
Tension mounts as US shutdown looms
Ugly public posturing raged between Republicans and Democrats Friday- but last-ditch talks carried on behind the scenes to stop a budget row from shuttering the government within hours.With a midnight ... ...Fri 8th April 2011 - 12:18pm
Tension mounts as US shutdown looms
Ugly public posturing raged between Republicans and Democrats Friday- but last-ditch talks carried on behind the scenes to stop a budget row from shuttering the government within hours.With a midnight ... ...Fri 8th April 2011 - 12:11pm
Google chief picks top guns with social in sights
Googles new chief executive Larry Page ended his first week at the Google helm with a hand-picked management team in place and his sights set on making the top Internet search service more social.Page ... ...Fri 8th April 2011 - 10:58am
EU offers Portugal 80-billion-euro bailout
Europe offered Portugal Friday an 80-billion-euro 115 billion bailout- but set tough conditions as it bid to draw a line under a destabilising debt crisis.The joint EU-IMF loans- following bailout rescues ... ...Fri 8th April 2011 - 10:32am
Port workers withdraw strike threat
Industrial action that threatened to cripple Australias ports has been averted- at least for the next few weeks.Maritime workers around the nation have decided not to walk off the job over a pay dispute.Australias ... ...Fri 8th April 2011 - 09:39am
Strike action at Fremantle port averted
Industrial action that threatened to cripple the nations ports has been averted- at least for the next few weeks.Waterside workers were due to walk off the job for 24 hours at Fremantle Port on Monday ... ...Fri 8th April 2011 - 09:37am
Strike action at Fremantle port averted
Industrial action that threatened to cripple the nations ports has been averted- at least for the next few weeks.Waterside workers were due to walk off the job for 24 hours at Fremantle Port on Monday ... ...Fri 8th April 2011 - 09:35am
Port workers withdraw strike threat
Industrial action that threatened to cripple Australias ports has been averted- at least for the next few weeks.Maritime workers around the nation have decided not to walk off the job over a pay dispute.Australias ... ...Fri 8th April 2011 - 09:33am
Googles 700 million ITA buy cleared with conditions
Googles entry into the online travel sector was cleared for takeoff Friday as the US Justice Department gave the green light to its 700 million purchase of flight data company ITA Software.The Justice ... ...Fri 8th April 2011 - 09:28am
US at budget impasse as shutdown looms
The US is still facing a possible government shutdown with a second night of talks at the White House failing to break the impasse over the budget. With less than a day until the deadline- president Barack ... ...Fri 8th April 2011 - 09:27am
ANZ chief says Gillard government weak
The Gillard administration is in the weak government club according to the chief executive of the ANZ bank- Mike Smith.Speaking in Sydney today- Mr Smith launched a wide-ranging attack on the ... ...Fri 8th April 2011 - 09:02am
Australia urged to develop fuel of the future
One of Australias richest men claims the technology exists to dramatically reduce the countrys vulnerability to international oil price shocks and even become an exporter of transport fuel.Mining ... ...Fri 8th April 2011 - 08:47am
EU offers Portugal 80-billion-euro bailout
Europe offered Portugal Friday an 80-billion-euro 115 billion bailout- but set tough conditions as it bids to draw a line under a destabilising debt crisis.The joint EU-IMF loans- following bailout ... ...Fri 8th April 2011 - 08:42am
Rio Tinto wraps up Riversdale
Rio Tinto Ltd has moved quickly to stamp its control on its 4 billion takeover target Riversdale Mining Ltd- saying it expected to increase its holding even further after gaining a majority interest.Rio ... ...Fri 8th April 2011 - 08:37am
Australia urged to develop fuel of the future
One of the Australias richest men claims the technology exists to dramatically reduce the countrys vulnerability to international oil price shocks and even become an exporter of transport fuel.Mining ... ...Fri 8th April 2011 - 08:32am
Fury in Washington as shutdown looms
Ugly public posturing raged between Republicans and Democrats Friday- after a budget impasse left the US government within hours of effectively running out of money and being forced to shut down.Through-the-night ... ...Fri 8th April 2011 - 08:20am
Paul Hogan loses tax document challenge
Actor Paul Hogan has lost a court challenge to reverse a decision allowing the Australian Taxation Office ATO access to confidential documents seized during an investigation.The Crocodile Dundee star- ... ...Fri 8th April 2011 - 08:06am
Fury in Washington as shutdown looms
Ugly public posturing raged between Republicans and Democrats Friday- after a budget impasse left the US government within hours of effectively running out of money and being forced to shut down.Through-the-night ... ...Fri 8th April 2011 - 08:02am
Shutdown looms as US budget talks fail
US President Barack Obama has demanded a rapid answer from Republicans on a deal to avert a government shutdown- heaping intense pressure on his foes with Fridays deadline less than 24 hours away.Obamas ... ...Fri 8th April 2011 - 08:02am
Paul Hogan loses tax document challenge
Actor Paul Hogan has lost a court challenge to reverse a decision allowing the Australian Taxation Office ATO access to confidential documents seized during an investigation.The Crocodile Dundee star- ... ...Fri 8th April 2011 - 08:00am
ASX shares down but market up
The days corporate news was dominated by Treasurer Wayne Swans official rejection of the Singapore Exchanges 8 billion proposal to takeover the Australian Securities Exchange.The Treasurer ... ...Fri 8th April 2011 - 08:00am
Former Macquarie chairman passes away
Former Macquarie Group Ltd chairman David Clarke has passed away less than a month after he retired from the investment bank where he was part of the leadership team for the past 40 years.Mr Clarke resigned ... ...Fri 8th April 2011 - 07:44am
Equinox says Minmetals bid opportunistic
Equinox Minerals Ltd says an informal 4 billion plus takeover proposal from the Chinese state-controlled Minmetals Resources Ltd MMR is opportunistic and low ball.Equinox said on Friday the premium ... ...Fri 8th April 2011 - 07:28am
Johnson -amp Johnson fined for bribing doctors
US authorities fined cosmetics and drugs giant Johnson -amp Johnson 70 million on Friday for bribing doctors in Europe and paying kickbacks for contracts under a UN relief program in Iraq.The Department ... ...Fri 8th April 2011 - 07:23am
Johnson -amp Johnson fined for bribing doctors
US authorities fined cosmetics and drugs giant Johnson -amp Johnson 70 million on Friday for bribing doctors in Europe and paying kickbacks for contracts under a UN relief program in Iraq.The Department ... ...Fri 8th April 2011 - 07:21am
Australia shares end near one-year high
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares end near one-year high ...Fri 8th April 2011 - 07:11am
ANZ boss expects rates to stay- then rise
ANZ Banking Group Ltd chief executive Mike Smith says he expects interest rates to remain level for a period before heading higher again.Mr Smith- the chief of the countrys third biggest ... ...Fri 8th April 2011 - 06:59am
ANZ chief says Gillard government weak
The Gillard administration is in the weak government club according to the chief executive of the ANZ bank- Mike Smith.Speaking in Sydney today- Mr Smith launched a wide-ranging attack on the ... ...Fri 8th April 2011 - 06:56am
ANZ chief says Gillard government weak
The Gillard administration is in the weak government club according to the chief executive of the ANZ bank- Mike Smith.Speaking in Sydney today- Mr Smith launched a wide-ranging attack on the ... ...Fri 8th April 2011 - 06:52am
Google ITA buy approved with conditions
The US Justice Department on Friday approved Googles 700 million acquisition of flight data company ITA Software- but imposed a number of strict conditions to allow the deal to go ahead.The Justice ... ...Fri 8th April 2011 - 06:46am
Russia sees future in BP despite court delays
Russia said Friday it could still complete its main oil companys tie up with BP despite an arbitration panels ruling against both the share swap and Arctic exploration parts of the 16 billion ... ...Fri 8th April 2011 - 06:34am
New terminal for Perth airport
Perth airport has called for tenders to build its first new terminal in more than two decades. The announcement comes after the Perth airport was ranked Australias worst in a consumer survey.The report ... ...Fri 8th April 2011 - 06:28am
Stockbrokers back ASX takeover rejection
The Stockbrokers Association has welcomed the Federal Governments decision to reject the planned takeover of the Australian Securities Exchange by the Singapore Exchange. Treasurer Wayne Swan ended ... ...Fri 8th April 2011 - 06:21am
India car sales soar 30 percent in 2010-11
Indian passenger car sales soared by 30 percent in the past year- the most in over a decade- but surging raw material costs will put the brakes on further growth- an industry body said Friday.Car sales ... ...Fri 8th April 2011 - 06:12am
EU prepares 80 billion euro bailout for Portugal
EU finance ministers on Friday thrashed out a multi-billion-dollar debt rescue for Portugal- demanding tough conditions as they try to draw a line under a destabilising debt crisis.The third EU bailout ... ...Fri 8th April 2011 - 06:09am
Wine traders expect strong demand for Bordeaux futures
Wine merchants warned Friday demand could be high for another excellent Bordeaux vintage after buyers from around the world descended on southwest France for the annual market.China and Hong Kong have ... ...Fri 8th April 2011 - 06:01am
Chemical affects Canberra workers
An investigation has begun into how a container carrying a hazardous chemical on a Canberra worksite did not have the required warning labels.WorkSafe inspectors closed a building site at the Canberra ... ...Fri 8th April 2011 - 05:47am
Spain dodges fallout from Portugal bailout
Spain has dodged fallout from Portugals request for a bailout- with Spanish Finance Minister Elena Salgado insisting Thursday that her nation is not next in line for international help - and markets ... ...Fri 8th April 2011 - 05:42am
US spending agreed- abortion is the impasse
With a midnight deadline fast approaching- bickering lawmakers have narrowed their differences but refused to finalize a spending measure for the fiscal year that would avert a dreaded federal government ... ...Fri 8th April 2011 - 05:37am
US at budget impasse as shutdown looms
The US is still facing a possible government shutdown with a second night of talks at the White House failing to break the impasse over the budget. With less than a day until the deadline- president Barack ... ...Fri 8th April 2011 - 05:19am
US at budget impasse as shutdown looms
The US is still facing a possible government shutdown with a second night of talks at the White House failing to break the impasse over the budget. With less than a day until the deadline- president Barack ... ...Fri 8th April 2011 - 05:05am
Stockbrokers back ASX takeover rejection
The Stockbrokers Association has welcomed the Federal Governments decision to reject the planned takeover of the Australian Securities Exchange by the Singapore Exchange. Treasurer Wayne Swan ended ... ...Fri 8th April 2011 - 04:23am
Stockbrokers back ASX takeover rejection
The Stockbrokers Association has welcomed the Federal Governments decision to reject the planned takeover of the Australian Securities Exchange by the Singapore Exchange. Treasurer Wayne Swan ended ... ...Fri 8th April 2011 - 04:10am
Diesel costs too high in WA
The RAC says WA petrol retailers are ripping off motorists by charging them more for diesel than in other states. The motoring body is calling for an Competition and Consumer Commission investigation into ... ...Fri 8th April 2011 - 04:06am
Telstra prices US1bn of bonds
Telstra Corporation Ltd has priced a US1 billion A957.4 million bond issue in the US- the proceeds of which will be used for general corporate purposes and to refinance existing debt.The notes were ... ...Fri 8th April 2011 - 03:57am
ASEAN finance ministers to talk hot money
Southeast Asian finance ministers meet on Friday for talks expected to focus on capital controls to shield the regions booming economies from destabilising hot money inflows.With Europes ... ...Fri 8th April 2011 - 03:03am
Swan vetoes ASX takeover
Treasurer Wayne Swan has officially prohibited the 8 billion merger of the Australian and Singapore stock exchanges.Announcing his decision this morning- Mr Swan said he believed it was in the national ... ...Fri 8th April 2011 - 03:02am
EU tackles Portugal debt bailout
EU finance ministers thrashed out Friday a multi-billion-dollar debt rescue for Portugal- demanding tough conditions as they try to draw a line under a destabilising debt crisis.Portugals bailout- ... ...Fri 8th April 2011 - 02:43am
PTA to address driver fatigue
The Public Transport Authority says it plans to address any problems with driver tiredness once a study into fatigue has been finalised. The unfinished study- leaked yesterday- shows that about a third ... ...Fri 8th April 2011 - 02:42am
Oil prices hit highest level since 2008
World oil prices jumped on Friday to their highest levels in more than two years as the market was driven by simmering political tensions in the Arab world and concerns over elections in Nigeria.Brent ... ...Fri 8th April 2011 - 02:36am
Train driver fatigue leak disappointing- says PTA
The Public Transport Authority says it plans to address any problems with driver tiredness once a study into fatigue has been finalised. The unfinished study- leaked yesterday- shows that about a third ... ...Fri 8th April 2011 - 02:27am
Tribunal halts BP tie-up with Russias Rosneft
An arbitration tribunal on Friday delivered another blow to BPs dream of completing a tie up with Rosneft by blocking its historic share swap agreement with Russias largest oil firm.The Stockholm ... ...Fri 8th April 2011 - 02:26am
Tarkine mine test drilling begins
A Melbourne-based resources company is testing the viability of mining for magnesite in north-west Tasmania.Tasmania Magnesite has started test drilling on two square kilometres of regrowth forest- 35 ... ...Fri 8th April 2011 - 02:19am
Singapore bourse seeks other opportunities
The Singapore stock exchange said on Friday it would seek growth opportunities elsewhere after Canberra rejected a proposed merger with the Australian bourse.Singapore Exchange SGX said in a statement ... ...Fri 8th April 2011 - 02:16am
Japans automakers signal post-quake restart
Japanese automakers Toyota and Nissan said on Friday they will restart all domestic assembly plants from around mid-April after production was halted due to the nations biggest recorded earthquake.In ... ...Fri 8th April 2011 - 02:16am
ASX shares drop after merger blocked
Shares in the Australian share market operator- ASX Ltd- fell when they resumed trading on the exchange on Friday- following Treasurer Wayne Swans decision to block a takeover bid by the Singapore ... ...Fri 8th April 2011 - 02:06am
Tarkine mine test drilling begins
A Melbourne-based resources company is testing the viability of mining for magnesite in north-west Tasmania.Tasmania Magnesite has started test drilling on two square kilometres of regrowth forest- 35 ... ...Fri 8th April 2011 - 02:00am
Magellan prepares for redundancies
The mining company Magellan Metals says it has begun talking to its workforce about potential redundancies.The company says it has begun the process of placing its lead mine at Wiluna on care and maintenance ... ...Fri 8th April 2011 - 01:59am
Water backflip will fuel uneven pricing system
A pensioners group says a shake-up of water arrangements in south-east Queensland will not stop costs spiralling.After months of arguing about who is to blame for high water bills- Premier Anna Bligh ... ...Fri 8th April 2011 - 01:52am
Swan vetoes ASX takeover
Treasurer Wayne Swan has officially prohibited the 8 billion merger of the Australian and Singapore stock exchanges.Announcing his decision this morning- Mr Swan said he believed it was in the national ... ...Fri 8th April 2011 - 01:38am
Australia shares edge higher- energy sector strong
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares edge higher- energy sector strong ...Fri 8th April 2011 - 01:37am
Pressure grows on Ranger mine to close
The Australian company that produces 10 per cent of the worlds uranium is under increasing pressure by Aboriginal traditional owners to shut up shop.The Mirarr people own the section of the World ... ...Fri 8th April 2011 - 01:37am
Magellan prepares for redundancies
The mining company Magellan Metals says it has begun talking to its workforce about potential redundancies.The company says it has begun the process of placing its lead mine at Wiluna on care and maintenance ... ...Fri 8th April 2011 - 01:34am
Strike cuts weekend ACTION buses
ACTION bus services will be reduced to a trickle across Canberra over the weekend because of industrial action by workshop maintenance staff. The Australian Manufacturing Workers Union says its members ... ...Fri 8th April 2011 - 01:13am
Strike cuts weekend ACTION buses
ACTION bus services will be reduced to a trickle across Canberra over the weekend because of industrial action by workshop maintenance staff. The Australian Manufacturing Workers Union says its members ... ...Fri 8th April 2011 - 01:00am
Darwin Port Corporation boss to be replaced
The head of the Darwin Port Corporation has been removed as the chief executive of the organisation.Robert Ritchie will serve the remainder of his contract in the Chief Ministers Department.It follows ... ...Fri 8th April 2011 - 12:46am
Swan vetoes ASX takeover
Treasurer Wayne Swan has officially prohibited the 8 billion merger of the Australian and Singapore stock exchanges.Announcing his decision this morning- Mr Swan said he believed it was in the national ... ...Fri 8th April 2011 - 12:32am
Fosters wins tax appeal over Elders
Fosters Group Ltd has won an appeal against the tax man that harks back to the days when John Elliott ran the company with his Elders Finance Group.Fosters said on Friday that a Full Bench of ... ...Fri 8th April 2011 - 12:31am
Swan vetoes ASX takeover
Treasurer Wayne Swan has officially prohibited the 8 billion merger of the Australian and Singapore stock exchanges.Announcing his decision this morning- Mr Swan said he believed it was in the national ... ...Fri 8th April 2011 - 12:31am
Air NZ gains nod for Etihad code share
Air New Zealand Ltd says it has received government approval for a code share agreement with Etihad Airways- the national airline of the United Arab Emirates.Under the agreement- Etihad Airways will code ... ...Fri 8th April 2011 - 12:21am
Australia shares open slightly lower on ASX- Japan aftershock
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares open slightly lower on ASX- Japan aftershock ...Fri 8th April 2011 - 12:21am
ASX- SGX agree to terminate merger deal
ASX Ltd and Singapore Exchange Ltd SGX have agreed to terminate the merger implementation agreement after Treasurer Wayne Swan rejected the proposed takeover by SGX.ASX said the board still believed ... ...Fri 8th April 2011 - 12:15am
Dairy farmers quit amid milk price war
A Wide Bay dairy farmer in southern Queensland says it is no longer sustainable to produce milk in Queensland.Farmer Michelle Anderson is moving her dairy business from Gin Gin back to Victoria after processors ... ...Fri 8th April 2011 - 12:05am
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