Finance News, Monday 4th July 2011
Foreign investment in India surges
Foreign direct investment in India more than doubled in May- data showed on Monday- after being subdued for months due to concerns over corruption- bureaucratic delays and a lack of economic reform.FDI ... ...Mon 4th July 2011 - 11:45pm
Australia shares seen edging higher- await RBA
MARKETS-AUSTRALIA-STOCKS-Australia shares seen edging higher- await RBA ...Mon 4th July 2011 - 11:20pm
Forestry run over by Gunns
Tension between Forestry Tasmania and timber company Gunns has again been played out in public.Gunns has previously accused the state-owned company of deliberately undercutting it in China.Now- Forestry ... ...Mon 4th July 2011 - 11:16pm
Bunge ends Tully Sugar takeover bid
Global agribusiness Bunge has pulled out of the race to take over Tully Sugar in far north Queensland.Bunges withdrawal leaves Chinese food company COFCO and Mackay Sugar in the running- with COFCOs ... ...Mon 4th July 2011 - 11:03pm
Greek debt proposal equal to default- ratings agency
A prominent ratings agency is warning the rescue plan proposed by Greece will effectively constitute a default.Standard and Poors is warning Greeces current restructure proposals- which involve ... ...Mon 4th July 2011 - 09:36pm
Labor pressured on steel- transport carbon concessions
The Federal Government is under internal pressure to help industries like steel and transport cope with the carbon price that it will reveal on Sunday.Labor MPs with emissions-intensive industries like ... ...Mon 4th July 2011 - 09:33pm
Talks continue on Tiger Airways future
Negotiations will continue on Tuesday between Tiger Airways and the aviation safety regulator as the grounded airline strives to get back in the air.Singapore-based Tiger Airways Holdings sent its group ... ...Mon 4th July 2011 - 09:29pm
Greece deal constitutes default - S-ampP
A French scheme involving private lenders in a second rescue package for Greece would likely amount to a default in the eyes of leading credit rating agency Standard -amp Poors- it stated ... ...Mon 4th July 2011 - 07:57pm
Rates set to stay on hold
The Reserve Bank is expected to leave interest rates on hold when it meets today- on the back of recent weaker-than-expected economic data and the strong Australian dollar.The cash rate has been steady ... ...Mon 4th July 2011 - 07:54pm
Furore over Nigerias bid to introduce Islamic banking
Plans to introduce Islamic banking as one of the models of non-interest financial services has touched off intense controversy in religiously divided Nigeria.The Central Bank of Nigeria CBN two weeks ... ...Mon 4th July 2011 - 05:53pm
Australia to unveil pollution tax
Australia will unveil the full details of its contentious pollution tax within days- Treasurer Wayne Swan said Tuesday- promising help for households facing higher energy bills.The tax- to apply to Australias ... ...Mon 4th July 2011 - 05:50pm
Potential layoffs at Bombardier factory in Britain
Canadian transportation giant Bombardier will announce staff changes Tuesday to its Derby factory in Britain- after losing a contract to rival Siemens- a company official said. Layoffs were expected.The ... ...Mon 4th July 2011 - 04:37pm
Talks continue on Tiger Airways future
Negotiations will continue on Tuesday between Tiger Airways and the aviation safety regulator as the grounded airline strives to get back in the air.Singapore-based Tiger Airways Holdings sent its group ... ...Mon 4th July 2011 - 04:31pm
Toyota to cut work at Brazil- Argentina plants
Toyota- the worlds biggest automaker- said it will temporarily halt work at factories in Brazil and Argentina due to the lack of parts from Japan after the massive March quake and tsunami.Toyota ... ...Mon 4th July 2011 - 03:39pm
Argentina unveils plan to mitigate cost of volcano
Argentine President Cristina Kirchner announced a slew of economic measures to mitigate the effects of ash spewing from Chiles Puyehue volcano that has upended air travel and tourism.Citing a real ... ...Mon 4th July 2011 - 03:15pm
Tiger woes may attract other budget airlines
The problems of Tiger Airways may lead to budget airlines entering Australias domestic market- according to an air industry observer.Tom Ballantyne- chief correspondent of Orient Aviation Magazine- ... ...Mon 4th July 2011 - 12:30pm
Tiger ticket sales may be misleading- ACCC
The competition watchdog says Tiger Airways may be guilty of misleading conduct if it keeps selling tickets without telling customers its flights are grounded and it is facing action from the Civil Aviation ... ...Mon 4th July 2011 - 11:18am
VW takes hold of MAN- works towards tie-up
Volkswagen- the biggest European vehicle maker- says it now holds a majority of the heavy truck maker MAN- a key step towards the creation of a third European truck giant.VW- which was obliged by German ... ...Mon 4th July 2011 - 10:18am
Retailers warned of no recovery until 2012
Retailers should brace for tough trading conditions until Christmas- with no prospect of recovery until 2012- the Australian National Retailers Association ANRA says.The bleak outlook for the nations ... ...Mon 4th July 2011 - 09:58am
VW takes hold of MAN- works towards tie-up
Volkswagen- the biggest European vehicle maker- says it now holds a majority of the heavy truck maker MAN- a key step towards the creation of a third European truck giant.VW- which was obliged by German ... ...Mon 4th July 2011 - 09:57am
Post-Galliano Dior embraces eclecticism
Christian Dior- taking its time finding a successor to John Galliano- firmly distanced itself from the disgraced British designer Monday with an eclectic collection at the Paris haute couture shows.Four ... ...Mon 4th July 2011 - 09:32am
Carrefour- Casino fight it out over Brazil deal
French supermarket giants Carrefour and Casino traded further blows Monday over their operations in Brazil- a key market where both are claiming a tie-up with the same huge local company.Casino is fighting ... ...Mon 4th July 2011 - 09:24am
Italy calls in S-ampP over austerity statement
Italys securities market regulator questioned officials from ratings agency Standard and Poors on Monday about the timing and sourcing of a statement on the countrys austerity plans.A Consob ... ...Mon 4th July 2011 - 08:54am
S -amp P warns of Greece selective default
Plans to roll over Greeces sovereign debt could risk putting the country into a selective default- ratings firm Standard -amp Poors warned.Eurozone finance ministers late Saturday cleared the way ... ...Mon 4th July 2011 - 08:50am
Murchison admits it cant pay for WA port
Murchison Metals will even consider selling its flagship iron ore mine to pay for the over-budget and late Oakajee port and rail development.The company has also shaken up it senior management- with the ... ...Mon 4th July 2011 - 08:47am
Barnett blames ALP for Perth Arena mess
If the West Australian government ends up in a legal battle with building tycoon Len Buckeridge over the disastrous Perth Arena project- it will be thanks to the mess left by the previous Labor government- ... ...Mon 4th July 2011 - 08:27am
Virgin- Qantas jump on Tiger grounding
Shares in Australias major airlines rose the most in at least nine months as investors bought into Qantas and Virgin Australia in response to the grounding of Tiger Airways.Analysts say the Civil ... ...Mon 4th July 2011 - 08:11am
Ten to offer voluntary redundancies
Ten Network will offer voluntary redundancies to staff as the cost cutting drive under interim chief executive Lachlan Murdoch gathers pace.Mr Murdoch said in an email to staff on Sunday night AEST that ... ...Mon 4th July 2011 - 08:10am
Virgin- Qantas jump on Tiger grounding
Shares in Australias major airlines rose the most in at least nine months as investors bought into Qantas and Virgin Australia in response to the grounding of Tiger Airways.Analysts say the Civil ... ...Mon 4th July 2011 - 07:48am
Weak retail sales drags market down
Local shares have fallen back from early gains to finish around 0.5 per cent higher at the close.Weak retail sales and building approvals data took the market by surprise- after a solid start on positive ... ...Mon 4th July 2011 - 07:43am
Tiger says it will fly again
Tiger Airways says it will be flying in Australia again and has the full backing of its Singapore-based parent company as it tries to get its week-long grounding lifted.Singapore-based Tiger Airways Holdings ... ...Mon 4th July 2011 - 07:33am
Tiger says it will fly again
Tiger Airways says it will be flying in Australia again and has the full backing of its Singapore-based parent company as it tries to get its week-long grounding lifted.Singapore-based Tiger Airways Holdings ... ...Mon 4th July 2011 - 07:28am
Barnett blames ALP for Perth Arena mess
If the West Australian government ends up in a legal battle with building tycoon Len Buckeridge over the disastrous Perth Arena project- it will be thanks to the mess left by the previous Labor government- ... ...Mon 4th July 2011 - 07:20am
Antwerp diamond industry ties up with China
The Antwerp diamond industry- world capital of the gem- on Monday announced an investment deal with leading Chinese bank ICBC.The Antwerp World Diamond Centre AWDC in a statement announced the deal with ... ...Mon 4th July 2011 - 07:15am
Business profit expectations at 2 year low
The tight grip consumers have on their purse-strings has driven the sales expectations of Australian businesses to the lowest in two years.But worries that interest rates will rise have subsided somewhat ... ...Mon 4th July 2011 - 07:01am
Peabody- China- Russia to develop Mongolia mine
Mongolia said Monday it has chosen US miner Peabody Energy- Chinas Shenhua and a Russian-Mongolian consortium to develop the highly coveted Tavan Tolgoi coal deposit in the south Gobi desert.Authorities ... ...Mon 4th July 2011 - 06:55am
Italian court seeks 20-year terms in asbestos mega-trial
A court in Turin on Monday requested jail terms of 20 years against a Swiss billionaire and a Belgian baron in the biggest ever trial over asbestos-related deaths- judicial officials said.Stephan Schmidheiny- ... ...Mon 4th July 2011 - 06:43am
Bid rumours boost Treasury Wine shares
The wine business formerly owned by Fosters Group gained over 194 million in market value on Monday due to speculation of a takeover bid from China.Shares in Treasury Wine Estates hit a record high ... ...Mon 4th July 2011 - 06:40am
Retailers warned of no recovery till 2012
Retailers should brace for tough trading conditions between now and Christmas- with no prospect of recovery until 2012- the Australian National Retailers Association ANRA says.The bleak outlook ... ...Mon 4th July 2011 - 06:30am
Australia shares gain 0.4 pct Treasury Wine- airlines surge
MARKETS-AUSTRALIA-STOCKS UPDATE 3-Australia shares gain 0.4 pct Treasury Wine- airlines surge ...Mon 4th July 2011 - 06:29am
Murchison shake-up long overdue- Barnett
A dramatic shake-up at the top of Murchison Metals Ltd is long overdue- says West Australian Premier Colin Barnett.Murchison announced on Monday that its chairman Paul Kopejtka would be stepping down from ... ...Mon 4th July 2011 - 06:27am
Tigers demise could see airfares soar
Analysts say if Tiger Airways calls it quits- travellers can expect airfares to increase as industry competition eases.The budget airlines domestic services were grounded on Friday by the Civil Aviation ... ...Mon 4th July 2011 - 06:14am
Retail market still flat despite lift in turnover
The Retail Traders Association says Western Australias retail market remains weak despite recording an increase in turnover in May.The latest Bureau of Statistics figures show turnover rose 0.8 per ... ...Mon 4th July 2011 - 06:11am
Dior taking its time to find Galliano successor
Christian Dior is in no hurry to name a successor to the disgraced John Galliano as creative director- its chief executive Sidney Toledano said on Monday.You know when you ask young girls all the ... ...Mon 4th July 2011 - 05:41am
Dior taking its time to find Galliano successor
Christian Dior is in no hurry to name a successor to the disgraced John Galliano as creative director- its chief executive Sidney Toledano said on Monday.You know when you ask young girls all the ... ...Mon 4th July 2011 - 05:33am
Consumers losing confidence in economy
Consumers are losing confidence in Australias economy and the job market- a survey shows.The latest edition of a regular survey by MasterCard showed local consumer confidence fell in the six months ... ...Mon 4th July 2011 - 05:29am
Rates outlook unchanged despite weak data
Weak building approvals and retail trade numbers are unlikely to change the central banks mind that a rate rise is needed in the coming months- economists say.Approvals for home building and sales ... ...Mon 4th July 2011 - 05:28am
Builders worried as stimulus fades
Builders are worried there will not be enough private sector work available when the federal government stimulus programs end.Releasing the latest Master Builders Australia MBA national survey- chief ... ...Mon 4th July 2011 - 05:09am
S-ampP fires warning at Greek debt deal
Ratings agency Standard and Poors warned on Monday that recent efforts to bailout Greece could amount to a debt default even as Brussels sees progress being made in resolving the crisis.S-ampP said that ... ...Mon 4th July 2011 - 05:08am
Consumers losing confidence in economy
Consumers are losing confidence in Australias economy and the job market- a survey shows.The latest edition of a regular survey by MasterCard showed local consumer confidence fell in the six months ... ...Mon 4th July 2011 - 05:08am
Ten to ditch dozens of staff
Network Ten has told its staff it is looking for 60 voluntary redundancies over the next few weeks as it seeks to cut costs.The companys acting chief executive Lachlan Murdoch confirmed the long-rumoured ... ...Mon 4th July 2011 - 03:57am
Camel race saddles up for Hump Day opportunity
Four Central Australian camels have been entertaining sightseers in Sydney today as part of a bid to draw attention to National Hump Day on Wednesday.Alice Springs camel jockey Ian Rowan says he is on ... ...Mon 4th July 2011 - 03:48am
Decision on Tiger due later this week
Travellers will have to wait until later this week to learn when grounded airline Tiger Airways will fly again.Singapore company Tiger Airways Holdings group president Tony Davis is expected to head ... ...Mon 4th July 2011 - 03:28am
Builders worried as stimulus fades
Builders are worried there will not be enough private sector work available when the federal government stimulus programs end.Releasing the latest Master Builders Australia MBA national survey- chief ... ...Mon 4th July 2011 - 03:18am
Regulator says 10 of European insurers fail stress test
About 10 percent of European insurance companies tested do not have enough capital to withstand exceptional economic shocks- results published by the sector regulator showed on Monday.But with a success ... ...Mon 4th July 2011 - 03:11am
Brussels fights bill shocks for roaming phone charges
Brussels goes to battle this week over high costs for Europeans in using mobile phones across EU borders- with a new proposal slated to slash expensive roaming bills to almost zero by 2015.With many disgruntled ... ...Mon 4th July 2011 - 03:06am
Rates outlook unchanged despite weak data
The outlook for interest rates is unchanged despite the release of weaker than expected retail trade and building approvals data- economists say.The Reserve Bank of Australia RBA last increased the cash ... ...Mon 4th July 2011 - 02:29am
Decision on Tiger due later this week
Travellers will have to wait until later this week to learn when grounded airline Tiger Airways will fly again.Singapore company Tiger Airways Holdings group president Tony Davis is expected to head ... ...Mon 4th July 2011 - 02:23am
No confidence threat over mill loan
Tasmanian Greens MP Kim Booth is threatening to bring on a no-confidence motion in the minority State Government if it lends money to a company to buy Gunns Triabunna woodchip mill.Mr Booth says he ... ...Mon 4th July 2011 - 02:22am
Tough new grog laws hit wall of confusion
The Northern Territory Liquor Stores Association says there have been a number of problems in rolling out new alcohol sales restrictions.The changes include a system that scans peoples identification ... ...Mon 4th July 2011 - 02:18am
Australia shares rise 0.7 pct- Treasury Wine surges on takeover talk
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares rise 0.7 pct- Treasury Wine surges on takeover talk ...Mon 4th July 2011 - 02:16am
Treasury Wine shares up on bid rumours
Shares in Treasury Wine Estate have soared on reports that a Chinese food company is considering making a bid for the company.Treasury Wine brands include Lindemans- Penfolds- Rosemount- Wolf Blass and ... ...Mon 4th July 2011 - 02:16am
Rates outlook unchanged despite weak data
The outlook for interest rates is unchanged despite the release of weaker than expected retail trade and building approvals data- economists say.The Reserve Bank of Australia RBA last increased the cash ... ...Mon 4th July 2011 - 02:09am
Animal welfare before beliefs- demands SA minister
South Australias Agriculture Minister Michael OBrien is keen for changes to halal and kosher killings of animals.Mr OBrien says he thinks animals should be stunned before their throat is ... ...Mon 4th July 2011 - 01:58am
Murchison shares fall on Oakajee blowout
Murchison Metals shares have plunged more than 11 per cent after it said costs at the embattled Oakajee port and rail project have blown out.Murchison Metals said the Oakajee project would require capital ... ...Mon 4th July 2011 - 01:51am
Building approvals fall 7.9
Australian residential building approvals fell 7.9 per cent to 12-290 units in May- seasonally adjusted.This compares to a downwardly revised 13-342 units in April.In the year to May- building approvals ... ...Mon 4th July 2011 - 01:45am
Indonesia decides not to re-issue live import permits
Federal Trade Minister Craig Emerson has moved to allay concerns over Indonesias decision not to re-issue live cattle import permits.The comments come as representatives of the Northern Territory ... ...Mon 4th July 2011 - 01:40am
Retail trade down 0.6 in May
Retail spending has decreased 0.6 per cent in May- official figures show.Retail trade fell in the month- to a seasonally adjusted 20.611 billion- compared to an unrevised 20.738 billion in April- the ... ...Mon 4th July 2011 - 01:35am
Residents applaud Cougar gas well fine
Residents of Kingaroy in south Queenslands South Burnett say they feel vindicated by the State Governments decision to charge an underground coal gasification company over alleged environmental ... ...Mon 4th July 2011 - 01:35am
City votes on electric car recharge station
The city of Melbourne could become the first council in Victoria to install recharge stations for electric cars.Council will vote on the proposal to install 12 recharge stations in the CBD tomorrow.Lord ... ...Mon 4th July 2011 - 01:32am
Job ads bounce- but newspapers lose out
Job advertisements increased in June- recovering half of a steep fall the month before- with internet ads leading the rise.The closely watched ANZ job advertisements series showed a 3.7 per cent rise in ... ...Mon 4th July 2011 - 01:31am
Workers protest as company goes into administration
About 150 workers are expected to rally outside the Melbourne site of envelope producer- Australian Envelopes in Notting Hill this morning after the company was placed in administration.The future of 500 ... ...Mon 4th July 2011 - 01:24am
Murchisons chairman steps down as trading resumes
The executive chairman of Murchison Metals- Paul Kopejtka- has stepped down as the company resumes trading on the stock exchange.Murchison is one of the proponents of the Oakajee Port and Rail project ... ...Mon 4th July 2011 - 01:22am
Tiger focusing on working with CASA
Tiger Airways says its priority is to work with the aviation regulator to have its grounding lifted- as its Singapore-based chief executive heads to Australia to lead the talks.Singapore company Tiger ... ...Mon 4th July 2011 - 01:19am
Greens- Windsor raise doubts over fuel claim
Greens Deputy Christine Milne and Independent Tony Windsor say it is impossible for the Government to promise a carbon price will never be imposed on fuel.The two MPs- both members of the Multi-Party Climate ... ...Mon 4th July 2011 - 01:17am
WA builder baulks at arena penalty fees
West Australian building magnate Len Buckeridge will dispute penalty payments of 45-000 a day after the Perth Arena project failed to meet a completion deadline on Friday.Arguments over building delays ... ...Mon 4th July 2011 - 12:59am
Rate talk lifts demand for fixed loans
Persistent speculation that interest rates will need to increase in coming months has seen an increase in the number of homeowners seeking the comfort of a fixed rate loan.Home loan provider Mortgage Choice ... ...Mon 4th July 2011 - 12:42am
Flat inflation gauge backs rate status quo
Consumer prices were unchanged in June- bringing inflation back within the central banks official target range- a private measure of inflation shows.The news improves chances the Reserve Bank of Australias ... ...Mon 4th July 2011 - 12:31am
Murchison shares fall on Oakajee update
Murchison Metals shares have dropped more than 10 per cent after it said costs at the embattled Oakajee port and rail project had blown out.Murchison Metals said the Oakajee project would require capital ... ...Mon 4th July 2011 - 12:21am
Australia shares jump 1 pct- buoyed by U.S. data
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares jump 1 pct- buoyed by U.S. data ...Mon 4th July 2011 - 12:19am
Last 7 days news:
- Todays News (22)
- 23rd May 2013 (109)
- 22nd May 2013 (96)
- 21st May 2013 (101)
- 20th May 2013 (77)
- 19th May 2013 (23)
- 18th May 2013 (31)