Finance News, Friday 8th July 2011
Australia PM warns polluters days over
Australian Prime Minister Julia Gillard came out fighting over her contentious pollution tax Saturday- warning the freedom to pollute our skies was over- ending 20 years of denial and delay.Gillard ... ...Fri 8th July 2011 - 11:03pm
Graziers hope to start trade by end of month
Australian graziers are hoping to have cattle heading to Indonesia by the end of the month.Indonesia has released import permits for 180-000 head of cattle after the Australian Government lifted its ban ... ...Fri 8th July 2011 - 10:26pm
More woes for Obama as unemployment rises
Unemployment in the United States has risen- fuelling fears of a stalling recovery in the worlds largest economy.The US added only 18-000 jobs in June- pushing unemployment up to 9.2 per cent.It is ... ...Fri 8th July 2011 - 09:36pm
Australian carrier Jetstar under investigation
Australias aviation regulator said Saturday it had launched a review of maintenance at budget airline Jetstar- a Qantas offshoot- in the wake of another low-cost carrier being grounded.The Civil Aviation ... ...Fri 8th July 2011 - 08:29pm
China inflation accelerates to 6.4
China said Saturday its politically sensitive inflation rate accelerated in June to the highest level in three years- as the government struggles to rein in soaring food costs.The countrys consumer ... ...Fri 8th July 2011 - 08:20pm
Pensioners to get carbon tax compensation
Pensioners will be given an up-front increase to their payments as part of the Federal Governments carbon tax package.The Government is understood to have settled on a carbon price starting at 23 ... ...Fri 8th July 2011 - 08:08pm
Australian carrier Jetstar under investigation
Australias aviation regulator said it had launched a review of maintenance at budget airline Jetstar- a Qantas offshoot- in the wake of another low-cost carrier being grounded.The Civil Aviation Safety ... ...Fri 8th July 2011 - 06:54pm
IMF releases new funds for Greece bailout
The International Monetary Fund said it was releasing 3.2 billion euros 4.6 billion to Greece but warned there was no margin for slippage in the countrys reform program.The funds- part ... ...Fri 8th July 2011 - 05:38pm
US unemployment rises on stagnant job creation
US unemployment climbed to 9.2 percent as job creation stalled in June- official figures showed- posing new challenges to the Obama administrations efforts to rev up economic growth.A much-awaited ... ...Fri 8th July 2011 - 05:24pm
China inflation accelerates to 6.4
China said its politically sensitive inflation rate accelerated in June to the highest level in three years- as the government struggles to rein in soaring food costs.The countrys consumer price index ... ...Fri 8th July 2011 - 05:15pm
Australia PM warns polluters days over
Australian Prime Minister Julia Gillard came out swinging on her contentious pollution tax- warning the freedom to pollute our skies was over- ending 20 years of denial and delay.Gillard on ... ...Fri 8th July 2011 - 04:28pm
Chinas consumer prices up 6.4 year-on-year in June
China said its politically sensitive inflation rate accelerated in June to the highest level in three years- as the government struggles to rein in soaring food costs.The countrys consumer price index ... ...Fri 8th July 2011 - 04:23pm
Colombian Madoff gets 9 years in US prison
A US court sentenced an alleged fraudster dubbed the Colombian Madoff for ties to a multimillion-dollar pyramid scheme to nine years in prison after he pleaded guilty to money laundering.US ... ...Fri 8th July 2011 - 03:47pm
Brazils Gol airline to buy low-cost rival WebJet
Brazilian carrier GOL- which calls itself the largest low-cost airline in Latin America- said it has reached an agreement to buy rival WebJet for 61 million.The two firms signed a memorandum of understanding ... ...Fri 8th July 2011 - 03:32pm
US stocks rise for the week- despite jobs data
US stocks ended the week with a modest gain- despite being punished on Friday by a disappointing jobs report that showed growth was still limping along in the worlds largest economy.The Dow Jones ... ...Fri 8th July 2011 - 12:52pm
BP wants to stop paying Gulf oil spill victims
BP wants to stop paying most people affected by the massive 2010 Gulf of Mexico oil spill for potential future damages because the region has recovered- a document released Friday said.The tourism industry ... ...Fri 8th July 2011 - 12:36pm
LinkedIn passes Myspace in US traffic- comScore
LinkedIn leapfrogged Myspace in June to become the second-largest social network in the United States in terms of traffic behind Facebook- tracking firm comScore reported Friday.LinkedIn had 33.9 million ... ...Fri 8th July 2011 - 12:31pm
IMF releases new funds for Greek rescue
The International Monetary Fund said Friday it was releasing 3.2 billion euros 4.6 billion to Greece as part of its joint bailout with the European Union for the debt-stricken country.The IMF said Athens ... ...Fri 8th July 2011 - 12:18pm
US unemployment rises on stagnant job creation
US unemployment climbed to 9.2 percent as job creation stalled in June- official figures showed Friday- posing new challenges to the Obama administrations efforts to rev up economic growth.A much-awaited ... ...Fri 8th July 2011 - 10:42am
US stocks fall on bleak jobs report
US stocks dropped sharply on Friday- wiping out much of the previous days gains after disappointing data on unemployment dashed hopes that the economic recovery might be gathering speed.The Dow Jones ... ...Fri 8th July 2011 - 10:41am
Indonesia ready to accept 180-000 cattle
Indonesia has released import permits allowing 180-000 head of cattle to come from Australia after a ban on live trade was lifted this week.A visit by Foreign Affairs Minister Kevin Rudd has given Indonesia ... ...Fri 8th July 2011 - 10:22am
US stocks fall on bleak jobs report
US stocks dropped sharply on Friday- wiping out much the previous days gains after disappointing data on unemployment dashed hopes that the economic recovery might be gathering speed.The Dow Jones ... ...Fri 8th July 2011 - 10:08am
Oil prices slide on US payrolls report
World oil prices sank on Friday as traders took profits from the recent rally and dismal US jobs data doused hopes of an imminent revival of economic growth.New Yorks main contract- West Texas Intermediate ... ...Fri 8th July 2011 - 09:54am
Aussies reject luxury- pay to buy green
Australians have turned their backs on buying luxuries over the past two years- but are still more willing to pay a premium to buy green products and services than US and UK consumers.The global financial ... ...Fri 8th July 2011 - 09:06am
Derby locals paying a high price for progress
There is a saying that problems are the price of progress.Nowhere is that more true than Derby.The 3-000 strong remote West Kimberley town has experienced a revival of sorts over the past few years.The ... ...Fri 8th July 2011 - 08:41am
News Corp stock plunges on hacking fallout
Shares of News Corp.- Rupert Murdochs media empire- plummeted on Friday amid concern that the British phone-hacking scandal would thwart its bid to take full control of pay-TV giant BSkyB. News Corp. ... ...Fri 8th July 2011 - 08:23am
WPG gets approval for Peculiar Knob mine
WPG Resources is set to join the ranks of iron ore producers following the South Australian governments go-ahead to develop the Peculiar Knob mine in the Woomera Prohibited Area.Shares in WPG finished ... ...Fri 8th July 2011 - 08:23am
Local market ends week in the black
Local shares ended the day on a high with the market up over 1 per cent.Shares were able to hold on to their early gains with rises across the broader market.The All Ordinaries index closed up 50 points ... ...Fri 8th July 2011 - 08:03am
Lynas teams up with Siemens on rare earths
Australias biggest rare earths company Lynas has teamed up with German giant Siemens to produce magnets for use at wind farms.The two companies have signed a letter of intent to establish a joint ... ...Fri 8th July 2011 - 07:57am
Oil prices slide further on US payrolls report
World oil prices sank on Friday as traders took profits from the recent rally and digested disappointing payrolls data from top global crude consumer the United States.New Yorks main contract- West ... ...Fri 8th July 2011 - 07:46am
Following bailout- Moodys downgrades Russias No. 2 bank
Moodys ratings agency downgraded Russias second-biggest bank VTB on Friday following its controversial acquisition of a debt-ridden rival and subsequent need to raise fresh cash.The downgrade ... ...Fri 8th July 2011 - 07:18am
News Corp stock plunges on hacking fallout
Shares of News Corp.- Rupert Murdochs media empire- plummeted on Friday amid concern that the British phone-hacking scandal would thwart its bid to take full control of pay-TV giant BSkyB.News Corp. ... ...Fri 8th July 2011 - 07:06am
Commodity markets climb on cautious economic optimism
Most commodity prices rose this week as traders welcomed broadly upbeat economic data which increased investor appetite for risk.However- some markets ran out of steam heading into the weekend following ... ...Fri 8th July 2011 - 07:04am
US jobless rate up as economic growth stalls
US unemployment climbed to 9.2 percent as job creation stalled in June- official figures showed Friday- posing new challenges to the Obama administrations efforts to rev up economic growth.Job creation ... ...Fri 8th July 2011 - 06:58am
US jobless rate up as economic growth stalls
US unemployment climbed to 9.2 percent as job creation stalled in June- official figures showed Friday- posing new challenges to the Obama administrations efforts to rev up economic growth.Job creation ... ...Fri 8th July 2011 - 06:48am
Air NZ released from US cargo probe
Air New Zealand says it has been released from an cargo cartel investigation by American authorities.US Department of Justice federal prosecutors have confirmed by letter that they have ... ...Fri 8th July 2011 - 06:47am
Aussies reject luxury- pay to buy green
Australians have turned their backs on buying luxuries over the past two years- but are still more willing to pay a premium to buy green products and services than US and UK consumers.The global financial ... ...Fri 8th July 2011 - 06:40am
Australia shares up 1.1 percent- miners lead gains
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares up 1.1 percent- miners lead gains ...Fri 8th July 2011 - 06:35am
Australia shares close up 1.1 pct ahead of U.S. jobs data
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares close up 1.1 pct ahead of U.S. jobs data ...Fri 8th July 2011 - 06:18am
Jetstar grounds four aircraft for checks
Australian carrier Jetstar grounded four aircraft on Thursday night after missing maintenance inspections.The A320 aircraft were serviced overnight- forcing the cancellation of two return services on Thursday.Emergency ... ...Fri 8th July 2011 - 06:17am
Jetstar grounds four aircraft for checks
Australian carrier Jetstar grounded four aircraft on Thursday night after missing maintenance inspections.The A320 aircraft were serviced overnight- forcing the cancellation of two return services on Thursday.Emergency ... ...Fri 8th July 2011 - 05:57am
Report urges more forest lock ups
Conservation groups have released a report to argue their case for the protection of an extra 600-000 hectares of native forest in Tasmania.The report was prepared for the original three environment groups ... ...Fri 8th July 2011 - 05:37am
New Sydney Entertainment Centre by 2015
Tourism chiefs have cautiously welcomed the New South Wales Governments plan to boost convention space in inner Sydney.The Government says the Sydney Entertainment Centre at Darling Harbour will be ... ...Fri 8th July 2011 - 04:38am
US new jobs plunge in June- jobless rate hits 9.2
The US unemployment rate rose last month after the economy generated a paltry 18-000 jobs- the Labor Department said Friday- in a serious sign of stalling growth in the worlds largest economy.The ... ...Fri 8th July 2011 - 04:34am
Wilkie backs carbon pricing scheme
Key independent MP Andrew Wilkie says he will support the Federal Governments legislation to price carbon.The Government has already secured the support of the Greens and independents Rob Oakeshott ... ...Fri 8th July 2011 - 04:17am
US stocks slump on gloomy jobs data
US stocks dropped sharply as markets opened on Friday- wiping out the previous days gains after disappointing data on unemployment dashed hopes that the economic recovery might be regaining speed.The ... ...Fri 8th July 2011 - 04:13am
Former editor a buffer to save Murdoch
Media insiders say Rupert Murdochs decision to kill News of the World and save former editor Rebekah Brooks is a strategic move to prevent heads rolling at the top of the empire.Mr Murdoch closed ... ...Fri 8th July 2011 - 04:11am
Peculiar Knob mine approved
Mining company WPG Resources will start work on a new open cut mine near Coober Pedy in South Australias Far North by the end of the month.The company says the State Government has approved the project.The ... ...Fri 8th July 2011 - 04:10am
US new jobs plunge in June- jobless rate hits 9.2
The US unemployment rate rose last month after the economy generated a paltry 18-000 jobs- the Labor Department said Friday- in a strong sign of stalling growth in the worlds largest economy.The fall ... ...Fri 8th July 2011 - 03:43am
Santanders Indian call centres to return to UK
Spanish-owned Santander UK is returning its Indian call centres to Britain following a high number of complaints from customers- the bank said on Friday.The shift of the banks operations from the ... ...Fri 8th July 2011 - 03:21am
Strategic opens Brisbane engineering base
Strategic Airlines will open an aviation engineering centre in Brisbane next week which will employ 50 staff.The airline has previously outsourced maintenance and engineering but says it now wants to control ... ...Fri 8th July 2011 - 03:21am
Current a-c deficits dont deserve bad rep
Big current account deficits can actually be a good thing- a senior central bank official says.Current account deficits have a bad reputation- which is not always warranted- Reserve Bank of ... ...Fri 8th July 2011 - 03:17am
US new jobs plunge in June- jobless rate hits 9.2
The US unemployment rate rose last month after the economy generated a paltry 18-000 jobs- the Labor Department said Friday- in a strong sign of stalling growth in the worlds largest economy.The fall ... ...Fri 8th July 2011 - 03:10am
US job creation plunges in June
The US economy generated a paltry 18-000 jobs in June- sharply lower than expected and a strong sign of stalling in the growth of the worlds largest economy.The fall in new jobs pushed the overall ... ...Fri 8th July 2011 - 03:01am
Alliance eyes Port Germein desal plant potential
The potential for a desalination plant near Port Germein- in South Australias Upper Spencer Gulf- has been flagged at a resources investment conference in Adelaide this week.The Braemar Iron Alliance- ... ...Fri 8th July 2011 - 02:48am
Business compensation forgotten in carbon tax
The Victorian Employers Chamber of Commerce and Industry VECCI says it hopes the carbon tax announcement will bring certainty for small businesses.VECCIs Chris James says businesses are finding ... ...Fri 8th July 2011 - 02:32am
Australia shares up on global growth hopes- miners set pace
MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares up on global growth hopes- miners set pace ...Fri 8th July 2011 - 02:28am
Explained- Oppositions direct action plan
In contrast to the Governments carbon price and market-based emissions trading scheme proposal- the Oppositions direct action plan does not charge industries for pollution.Instead- ... ...Fri 8th July 2011 - 02:28am
IMFs Lagarde faces delay in criminal probe ruling
A French court on Friday delayed its ruling on whether the new head of the IMF- former French finance minister Christine Lagarde- will face a criminal probe over her handling of a tycoons lawsuit.The ... ...Fri 8th July 2011 - 02:19am
German parliament backs nuclear exit by 2022
The German parliament sealed plans Friday to phase out nuclear energy by 2022- making the country the first major industrial power to take the step in the wake of the disaster at Japans Fukushima ... ...Fri 8th July 2011 - 02:15am
European stocks stable before US jobs data
European stock markets and the euro steadied on Friday before key US payrolls data- while London investors tracked media shares after the shock closure of Rupert Murdochs News of The World tabloid ... ...Fri 8th July 2011 - 02:06am
India exports jump 46 in June
Indias exports surged 46 percent to 29.2 billion in June- provisional data showed Friday- helped by mounting demand in US and European markets.The year-on-year rise came as the key economic regions ... ...Fri 8th July 2011 - 01:50am
Tiger grounding bites deep in Red Centre
The Alice Springs Chamber of Commerce has called on the Northern Territory Government to help bring another airline to the town following the grounding of Tiger Airways.There is now only one major carrier ... ...Fri 8th July 2011 - 01:49am
Peculiar Knob gets SA govt approval
WPG Resources shares have shot up after it received South Australian government approval to develop Peculiar Knob- the nations highest grade undeveloped iron ore deposit.The deposit is located ... ...Fri 8th July 2011 - 01:38am
EU clears Rio Tintos sale of leading talc company
European Union regulators cleared on Friday a bid by French minerals firm Imerys to acquire the worlds biggest talc producer- Luzenac- from Anglo-Australian mining giant Rio Tinto.Imerys announced ... ...Fri 8th July 2011 - 01:30am
Greens hail win on renewables agency
The Government has agreed to a Greens plan to create a new independent body to manage more than 3 billion worth of renewable energy projects.The Australian Renewable Energy Agency ARENA will take over ... ...Fri 8th July 2011 - 01:25am
Russias VTB bank secures record 3.1 bn loan
Russias second-biggest bank VTB said on Friday it had secured Eastern Europes largest syndicated loan following its acquisition of shares in the struggling Bank of Moscow.The state-owned group ... ...Fri 8th July 2011 - 01:14am
Murdoch Australia arm says no phone hacking here
Media magnate Rupert Murdochs Australian arm Friday distanced itself from the News Of The World phone hacking scandal- warning unethical and immoral conduct would not be tolerated.The ... ...Fri 8th July 2011 - 01:07am
Retailers post strong June sales
Colossal discounts enticed consumers to shop like it was 1999 last month. But higher prices ahead could cause the party to end soon.Warm weather and discounts of up to 80 per cent on summer merchandise ... ...Fri 8th July 2011 - 12:54am
Truckies protest through Perth CBD
About forty truck drivers are set to drive in convoy through the Perth city centre this morning to protest against high fuel costs and rates of pay.The owner-drivers who service the construction industry ... ...Fri 8th July 2011 - 12:44am
Qld MP racks up huge travel bill
Queensland MP Peter Slipper spent more than twice as much as Prime Minister Julia Gillard in travel expenses during the six months from July to December last year.The Federal Liberal Member for Fisher ... ...Fri 8th July 2011 - 12:38am
Queensland quashes controversial gas project
The Queensland Government has dropped a controversial gas project in the states south.The underground coal gasification pilot in the South Burnett region has been shut down permanently after an investigation ... ...Fri 8th July 2011 - 12:33am
Profitability problem at Whyalla steelworks- MP
The Whyalla steelworks are more likely to close because of a lack of profitability than a carbon tax- says South Australian Labor MP Lyn Breuer.The states Chamber of Mines and Energy says jobs could ... ...Fri 8th July 2011 - 12:31am
Australia shares rise on encouraging U.S. data
MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares rise on encouraging U.S. data ...Fri 8th July 2011 - 12:24am
BSkyB shares hit by fears of phone hacking
Shares in British Sky Broadcasting BSkyB continued to fall on Thursday on worries that News Corps takeover bid might be blocked- getting no immediate relief from Newss announcement late in ... ...Fri 8th July 2011 - 12:08am
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