Finance News, Monday 26th September 2011

Airport delays as Customs staff strike

Passengers at Australias international airports are experiencing delays after Customs and Border Protection officers staged a one-hour strike.Workers walked off the job for one hour this morning and ... ...

Airport delays as Customs staff strike

Passengers at Australias international airports are experiencing delays after Customs and Border Protection officers staged a one-hour strike.Workers walked off the job for one hour this morning and ... ...

Bonds soften as risk appetite recovers

Australian bonds have opened weaker as traders show a renewed willingness to invest in relatively riskier investments amid optimism that Europe may avoid a recession.JP Morgan interest rate strategist ... ...

Market set to follow Wall St higher

Australian shares are expected to gain ground in early trade today after US and European indices all rose overnight.Wall Street rose for a second straight session overnight- with the Dow Jones Industrial ... ...

Australia shares seen up on hope for euro zone action

MARKETS-AUSTRALIA-STOCKS-Australia shares seen up on hope for euro zone action ...

Unconscious bias against women remains

Unconscious bias against women still exists in the workplace and remains a barrier to women reaching leadership roles- a new report finds.The Committee for Economic Development of Australia CEDA says ... ...

Unions demand local contracts for Wheatstone

Unions WA says it is sceptical about claims a major gas project in Western Australias Pilbara will benefit local businesses.Chevron yesterday announced it will go ahead with its 29 billion Wheatstone ... ...

Airport delays as Customs staff strike

Passengers at Australias international airports are experiencing delays after Customs and Border Protection officers staged a one-hour strike.Workers walked off the job for one hour this morning and ... ...

Market set to follow Wall St higher

Australian shares are expected to gain ground in early trade today after US and European indices all rose overnight.Wall Street rose for a second straight session overnight- with the Dow Jones Industrial ... ...

Business investment fuels Qlds strong growth- Nolan

The State Government says a new economic report shows a surge in business investment is leading growth in the Queensland economy.Acting Treasurer Rachel Nolan says the Westpac Coast to Coast ... ...

Business investment fuels Qlds strong growth- Nolan

The State Government says a new economic report shows a surge in business investment is leading growth in the Queensland economy.Acting Treasurer Rachel Nolan says the Westpac Coast to Coast ... ...

Forest compo cap concerns

Tasmanias forest contractors are concerned about a compensation cap proposed under the forest peace deal.The Forest Contractors Association will reject the Commonwealths scheme which includes ... ...

Government to table cropping land bill in Parliament

The Queensland Government will introduce laws into Parliament next month to protect cropping land from mining.The question of farming versus resources is set to be a major issue at the next election- with ... ...

No word on contractors payments

The Federal Government is yet to commit to a timeframe for when further exit payments will be available for Tasmanias forest contractors.There is 45 million in the 276 million intergovernmental ... ...

Aussie- NZ dollars rise on Europe banks hope

MARKETS-AUSTRALIA-FOREX-Aussie- NZ dollars rise on Europe banks hope ...

A higher as EU recession fears recede

The Australian dollar has risen almost two US cents on renewed optimism that Europe may avoid a recession.Bank of New Zealand currency strategist Mike Burrowes said there was an improvement in risk sentiment ... ...

Stocks to watch on Tuesday morning

Stocks to watch on the Australian stock exchange early on Tuesday-BOW - BOW ENERGY LTD - up 0.5 cents- or 0.34 per cent- at 1.465Coal seam gas explorer and producer Bow Energy will recommend its shareholders ... ...

Insurers remain under spotlight at floods inquiry

The second round of the Queensland floods inquiry in Brisbane is today expected to continue scrutinising the conduct of insurance companies.The commission is questioning how insurers assessed claims and ... ...

International markets roundup

A roundup of trading on major world markets-NEW YORK - US stocks rallied sharply Monday as investors saw positive signs in European efforts to find a way to resolve the eurozone debt crisis.The Dow Jones ... ...

Commodities markets summary

A summary of trading in key commodities markets overseas-ENERGYOil prices closed little changed Monday after a day of see-saw trade Monday as markets remained on edge over the eurozone crisis.New Yorks ... ...

Australian market preview

The Australian market looks set to open higher after Wall Street closed up 2.5 per cent.At 0652 AEST on Tuesday- the December share price index futures contract was up 105 points at 3-984.There is no economic ... ...

A opens stronger on lead from equities

The Australian dollar was almost two US cents higher as stock markets in Europe and the US closed firmer overnight.US stocks rallied sharply on Monday as investors reacted favourably to European efforts ... ...

Airport delays expected as Customs staff strike

Passengers at Australias international airports will experience delays this morning as Customs and Border Protection officers take industrial action.Workers will walk off the job for one hour this ... ...

Petrol prices to rise as dollar falls

Australian motorists are being warned petrol prices are set to rise in the coming weeks because of the weaker local currency and volatility in global oil prices.Figures from the Australian Institute of ... ...

Petrol prices to rise as dollar falls

Australian motorists are being warned petrol prices are set to rise in the coming weeks because of the weaker local currency and volatility in global oil prices.Figures from the Australian Institute of ... ...

Eurozone bites wider bailout bullet

Europe bit the bullet on Monday with talk of boosting its debt rescue fund- but Greece was kept waiting for the return of auditors who have the keys to funds it needs to avoid default.The news followed ... ...

Europe scaring Obama as global recession lurks

Europes failure to tackle crippling Greek debt is scaring the world- US President Barack Obama warned as Germany stoked fears Tuesday of a worldwide plunge back into recession.Obama spoke ... ...

Ex-Google exec- Mr President raise my taxes

A rich former Google executive pleaded with Barack Obama to raise his taxes Monday- boosting the US leaders push to get well off Americans to bankroll his 447 billion jobs plan.Obama stormed through ... ...

Italys ENI resumes oil work in Libya

Italian oil giant ENI has resumed oil production in Libya more than six months after civil unrest brought oil and gas output in the country to a near standstill.ENI- working in partnership with Libyas ... ...

Woolworths has profit lift in FY12

Supermarket giant Woolworths says it still expects to lift net profit in the current year but admits the retail sector faces significant challenges.The company- which is among Australias 10 biggest ... ...

US stocks rally on eurozone debt hopes

US stocks rallied sharply Monday as investors saw positive signs in European efforts to find a way to resolve the eurozone debt crisis.The Dow Jones Industrial Average rose 272.38 points 2.53 percent ... ...

Markets end lower after volatile late trading

The Australian share market has given back all of its opening gains in late trading as concerns about the global economy got the better of local investors.A slump in commodity prices saw resource shares ... ...

Union defends Customs strike

Industrial action by Customs and Border Protection staff is expected to cause delays for passengers catching international flights on Tuesday.Thousands of customs and quarantine workers around the country ... ...

Obama- Europe crisis scaring world

US President Barack Obama on Monday complained that Europes financial crisis was scaring the world and was rooted in the eurozones failure to fix its banks. In a new sign of US frustration about ... ...

Oil prices mixed in volatile trade

Oil prices closed little changed Monday after a day of see-saw trade Monday as markets remained on edge over the eurozone crisis.New Yorks main contract- West Texas Intermediate WTI for November ... ...

ANA takes Boeings first 787 Dreamliner

Boeing and All Nippon Airways celebrated Monday the long-awaited delivery of the worlds first 787 Dreamliner airplane to the Japanese airline.More than three years behind schedule due to production ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.The Federal Resources ... ...

Markets end lower after volatile late trading

The Australian share market has given back all of its opening gains in late trading as concerns about the global economy got the better of local investors.A slump in commodity prices saw resource shares ... ...

Investors pour 85 million into Tumblr

Tumblr on Monday announced a fresh round of funding that poured 85 million into the fast-growing online service for sharing pictures- videos- written musings and other digital snippets.Greylock Partners ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.The Federal Resources ... ...

Fitch revises Wesfarmers to positive

Fitch Ratings has revised Wesfarmers Ltds outlook to positive from stable because of the growing contribution from Coles and the companys improving financial profile.Fitch ... ...

Australia to become an LNG giant

Australia is on the path to rival Qatar as the worlds largest liquefied natural gas LNG producer after US energy giant Chevron signed off on its US29 billion A29.63 billion Wheatstone project.Chevrons ... ...

Airbus considering stepping up A320 production- unions

European planemaker Airbus is considering stepping up production of its medium-haul A320 passenger aircraft by 16 percent within two years- labour union representatives said Monday.Airbus officials indicated ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resource projects is set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.Federal Resources Minister ... ...

ANA takes Boeings first 787 Dreamliner

Boeing and All Nippon Airways celebrated Monday the long-awaited delivery of the worlds first 787 Dreamliner airplane to the Japanese airline. More than three years behind schedule due to production ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resource projects is set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.Federal Resources Minister ... ...

Markets end lower after volatile late trading

The Australian share market has given back all of its opening gains in late trading as concerns about the global economy got the better of local investors.A slump in commodity prices saw resource shares ... ...

Arrow takeover of Bow up for vote

Bow Energy has agreed to an increased takeover offer from fellow coal seam gas company Arrow Energy.Bow Energy shareholders now need to vote on the takeover.Arrows chief executive Andrew Faulkner ... ...

Woolworths says it lift profit in FY12

Supermarket giant Woolworths says it still expects to lift net profit in the current year but admits the retail sector faces significant challenges.The company- which is among Australias 10 biggest ... ...

Germany KOs bid to raise euro rescue guarantees

Germany shot down Monday moves to boost European debt rescue funding- bursting renewed optimism on markets amid global pressure for the eurozone to stave off recession.As Greece languished without a date ... ...

Aust stocks fall after commodities slump

The Australian share market fell more than one per cent to a two-year low as investors sold out of miners and energy companies after commodity prices slumped.Gold miners led the tumble after the price ... ...

Wary on Greece- EU mulls deepening bailout

Greeces finance minister has pledged to do whatever it takes to haul the nation out of crisis- but European policymakers wary of a devastating default are pushing to deepen the regions bailout ... ...

Markets end lower after volatile late trading

The Australian share market has given back all of its opening gains in late trading as concerns about the global economy got the better of local investors.A slump in commodity prices saw resource shares ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.The Federal Resources ... ...

Woolworths says it lift profit in FY12

Supermarket giant Woolworths says it still expects to lift net profit in the current year but admits the retail sector faces significant challenges.The company- which is among Australias 10 biggest ... ...

Production starts on Woodside oil vessel

Production has started on Woodside Petroleums Okha floating vessel that is expected to produce 30-000 barrels of oil a day.Woodside said the first take-off from the Woodside-operated Okha floating ... ...

Air NZ increases Virgin Aust stake to 20

Air New Zealand has increased its stake in Virgin Australia to just under 20 per cent as part of a strategy to boost its presence in the region.Air NZ chief executive Rob Fyfe said his airline had no intention ... ...

A lower amid more Greek worries

The Australian dollar has hit a 10-month low as uncertainty grows whether Greece can get help to avoid a debt default and a global recession can be prevented.Easy Forex senior currency dealer Francisco ... ...

Coke launches biggest Russia plant

World beverage leader Coca-Cola announced the launch Monday of its largest plant in Russia in a move aimed at countering the growing influence in the region of its US rival PepsiCo.The shiny new 120 million ... ...

Air NZ increases Virgin Aust stake to 20

Air New Zealand has increased its stake in Virgin Australia to just under 20 per cent as part of a strategy to boost its presence in the region.Air NZ chief executive Rob Fyfe said his airline had no intention ... ...

Germanys Schaeuble says no plan to boost euro rescue fund

German Finance Minister Wolfgang Schaeuble said Monday that there was no plan to boost the size of the eurozone rescue fund- following comments that fed such speculation.We are giving it the European ... ...

Australia shares end down 1 pct- commodities sell-off hits miners

MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares end down 1 pct- commodities sell-off hits miners ...

Super report misleading- FSC says

New research suggesting that people saving for their retirement would be better off putting their money in the bank rather than a retail superannuation fund is misleading- the head of the Financial Services ... ...

Coke launches biggest Russia plant

World beverage leader Coca-Cola announced the launch Monday of its largest plant in Russia in a move aimed at countering the growing influence in the region of its US rival PepsiCo.The shiny new 120 million ... ...

Weak dollar to bring more petrol pump pain

The weakening Australian dollar is putting increasing pressure on petrol prices and will force motorists to pay more to fill up their cars in coming weeks.Figures from the Australian Institute of Petroleum ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 29 billion Wheatstone project in Western Australias Pilbara region.The Federal Resources ... ...

Europe- US stocks rise on talk of eurozone action

European and US shares rose on Monday with intense speculation over a more ambitious bailout fund for the eurozone and an orderly Greek default- though lack of details and denials by officials kept trading ... ...

Chevron commits to US29bn LNG project

US energy giant Chevron has signed off on its US29 billion A29.63 billion liquefied natural gas LNG project in Western Australias Pilbara region.Chevron announced final investment approval on ... ...

Aust bonds strengthen on Greek jitters

Australian 10-year bonds traded near a two-and-a-half-year high as investors remained uncertain as to whether the Eurozone could prevent Greece from defaulting on its debts.At 1630 AEST on Monday- the ... ...

Aust stocks fall after commodities slump

The Australian share market fell more than one per cent to a two-year low- pulled down by investors selling out of miners and energy companies after commodity prices slumped.Gold miners led the tumble ... ...

Oil prices climb in volatile trade

Oil prices rose on Monday in volatile trade as investors reacted to the latest twists and turns in the eurozone debt crisis and the effect of the global economic slowdown on worldwide demand for energy.Brent ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 25 billion LNG Wheatstone project in Western Australias Pilbara region.The Federal ... ...

Australia shares end down 1 pct- miners fall on commodities sell-off

MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares end down 1 pct- miners fall on commodities sell-off ...

Stocks to watch at close on Monday

Stocks to watch on the Australian stock exchange at close on Monday-BOW - BOW ENERGY LTD - up 0.5 cents- or 0.34 per cent- at 1.465Coal seam gas explorer and producer Bow Energy will recommend its shareholders ... ...

Aust shares give up gains to fall 1.3

The Australian sharemarket gave up earlier gains to fall 1.3 per cent to a fresh two-year low as anxious investors awaited more news about a Greek bailout from Europe.At the close on Monday- the benchmark ... ...

Chevron commits to US29bn LNG project

US energy giant Chevron has signed off on its US29 billion A29.63 billion liquefied natural gas LNG project in a West Australias Pilbara region.Chevron announced final investment approval on ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 25 billion LNG Wheatstone project in Western Australias Pilbara region.The Federal ... ...

Chevron announces go-ahead on Wheatstone project

One of the nations largest resources project is to set to get underway with Chevron formally approving the 25 billion LNG Wheatstone project in Western Australias Pilbara region.The Federal ... ...

Retail super funds arent matching it with banks

Anyone close to retirement or already retired will be closely watching the performance of their superannuation fund given the current market volatility.Even though superannuation needs to be viewed over ... ...

Business warns over confidence slump

Tasmanias peak business group has warned confidence in the local economy wont improve- until the State Government get its own finances back into the black.The Chamber of Commerce and Industry ... ...

Weld Range Metals denied mining lease go-ahead

The National Native Title Tribunal has denied Weld Range Metals permission to operate on four of its mining leases in the Mid West.The tenements lie on land belonging to the Wajarri Yamatji people.The ... ...

Forest compo cap concerns

Tasmanias forest contractors are concerned about a compensation cap proposed under the forest peace deal.The Forest Contractors Association will reject the Commonwealths scheme which includes ... ...

Wary on Greece- EU mulls deepening bailout

Greeces finance minister has pledged to do whatever it takes to haul the nation out of crisis- but European policymakers wary of a devastating default are pushing to deepen the regions bailout ... ...

Business warns over confidence slump

Tasmanias peak business group has warned confidence in the local economy wont improve- until the State Government get its own finances back into the black.The Chamber of Commerce and Industry ... ...

Wage growth under agreements perks up

Wage growth under enterprise bargaining agreements perked up in the first three months of 2011- particularly for public servants- government data shows.The somewhat-dated data released by the Department ... ...

Aussie -amp NZ dlrs fragile amid euro zone uncertainty

MARKETS-AUSTRALIA-FOREX-Aussie -amp NZ dlrs fragile amid euro zone uncertainty ...

Chevron to announce decision on Wheatstone project

Chevron is today expected to give the formal go ahead to its 25 billion Wheatstone LNG Project in Western Australias Pilbara region.The Federal Resources Minister Martin Ferguson and the Premier ... ...

Wary on Greece- EU mulls deepening bailout

Greeces finance minister has pledged to do whatever it takes to haul the nation out of crisis- but European policymakers wary of a devastating default are pushing to deepen the regions bailout ... ...

Prosperine Sugar takeover bid process continues

The Proserpine Sugar board in north Queensland has announced the amended 115 million takeover offer from Sucrogen is superior to a 120 million deal being offered by Tully COFCO.The bidding war for the ... ...

Enough police for AFL grand final- Ryan

The acting Victorian Premier- Peter Ryan- says he does not think a police union ban on overtime will cause any problems this weekend.The AFL grand final is on Saturday.Police will stop doing unpaid overtime ... ...

Australia shares give up early gains to fall 0.5 pct

MARKETS-AUSTRALIA-STOCKS UPDATE 2-Australia shares give up early gains to fall 0.5 pct ...

Retail super funds arent matching it with banks

Anyone close to retirement or already retired will be closely watching the performance of their superannuation fund given the current market volatility.Even though superannuation needs to be viewed over ... ...

Retail super funds arent matching it with banks

Anyone close to retirement or already retired will be closely watching the performance of their superannuation fund given the current market volatility.Even though superannuation needs to be viewed over ... ...

Chancellor Merkels comments drag A lower

The Australian dollar fell about half a US cent after comments from German Chancellor Angela Merkel raised concerns that Greeces debt problems could spread to other economies.CMC Markets foreign exchange ... ...

Weld Range Metals denied go-ahead on mining leases

The National Native Title Tribunal has denied Weld Range Metals permission to operate on four of its mining leases in the Mid West.The tenements lie on land belonging to the Wajarri Yamatji people.The ... ...

Weld Range Metals denied go-ahead on mining leases

The National Native Title Tribunal has denied Weld Range Metals permission to operate on four of its mining leases in the Mid West.The tenements lie on land belonging to the Wajarri Yamatji people.The ... ...

Market battling through choppy financial waters

Australian shares are having a choppy trading session today- but the banking sector is holding up quite solidly.About 12.30pm AEST the All Ordinaries Index was up 10 points to 3-988 and the ASX 200 was ... ...

Noon stocks shed early gains

Australian shares remained in positive territory at noon but had shed some of their early gains from morning trade as anxious investors awaited more news about a Greek bailout from Europe.After opening ... ...

Retail super funds underperforming compared to banks

Anyone close to retirement or already retired will be closely watching the performance of their superannuation fund given the current market volatility.Even though superannuation needs to be viewed over ... ...

Financial turmoil prompts mortgage buffer

Australian mortgage holders are creating bigger financial buffers for themselves as financial market turmoil gives them the jitters- a survey shows.Sixty per cent of mortgage holders are ensuring they ... ...

Stocks to watch at noon on Monday

Stocks to watch on the Australian stock exchange at noon on Monday-ADD - ARDENT LEISURE GROUP - down one cent- at 1.035Queenslands embattled tourism industry can ill afford a transport strike- says ... ...

Aussie -amp NZ dlrs wobbly amid EU confusion

MARKETS-AUSTRALIA-FOREX-Aussie -amp NZ dlrs wobbly amid EU confusion ...

Enough police for AFL grand final- Ryan

The acting Victorian Premier- Peter Ryan- says he does not think a police union ban on overtime will cause any problems this weekend.The AFL grand final is on Saturday.The unpaid overtime ban is a part ... ...

Australia shares inch higher- mood cautious

MARKETS-AUSTRALIA-STOCKS UPDATE 1-Australia shares inch higher- mood cautious ...

CCI says governments reform agenda stalled

The State Government has been given a poor report card by the Chamber of Commerce and Industry which says the Premiers tough reform agenda has stalled.The chamber has rated the governments performance ... ...

McCarthy chases Tiger flights and Chinese tourists

Northern Territory Tourism Minister Malarndirri McCarthy will meet officials from Tiger Airways in Singapore today.The airline stopped flying between Melbourne and Alice Springs earlier this year in a ... ...

Market gains ground in early trade

The Australian share market rose 1 per cent in early trade as investors appeared to shrug off concerns over the European debt crisis.The All Ordinaries has gained 38 points to be back above the 4-000 mark ... ...

Passengers warned of airport delays tomorrow

Passengers at Perth International Airport have been warned to expect delays tomorrow because of expected industrial action by customs and border protection staff.The industrial action will consist of one ... ...

Aust stocks open slightly higher

The Australian share market opened slightly higher with investors seemingly confident European leaders were getting closer to taking action on the eurozone debt crisis.The rise came after a horror week ... ...

Market up in early trade

The Australian share market rose 1 per cent in early trade as investors appeared to shrug off concerns over the European debt crisis.The All Ordinaries has gained 38 points to be back above the 4-000 mark ... ...

Quarry plan worries Scenic Rim community

A community group has lodged nearly 1-000 objections to an application to develop a quarry in the Scenic Rim region- west of Queenslands Gold Coast.The Scenic Rim Regional Council is due to consider ... ...

Retail super money better off in the bank

The head of industry superannuation funds has warned people not to do anything hasty in the current volatile environment on financial markets.The Industry Super Network released a new report on Monday ... ...

Enough police for AFL grand final- Ryan

The acting Victorian Premier- Peter Ryan- says he does not think a police union ban on overtime will cause any problems this weekend.The AFL grand final is on Saturday.The unpaid overtime ban is a part ... ...

Australia shares open 1.3 pct higher on euro debt hopes

MARKETS-AUSTRALIA-STOCKS-Australia shares open 1.3 pct higher on euro debt hopes ...

CCI says governments tough reform agenda stalled

The State Government has been given a poor report card by the Chamber of Commerce and Industry which says the Premiers tough reform agenda has stalled.The chamber has rated the governments performance ... ...

Aust shares open

The Australian share market has opened more than one per cent higher.At 1010 AEST on Monday- the benchmark S-ampP-ASX200 index was up 52.7 points- or 1.35 per cent- at 3-955.9- while the broader All Ordinaries ... ...

Swan accepts finance minister award

Federal Treasurer Wayne Swan paid tribute to his predecessor Paul Keating as he was officially named Finance Minister of the Year at a ceremony in Washington this morning.Euromoney magazine named Mr Swan ... ...

Company releases study into 8.3b coal project

Waratah Coal has released an environmental study into an 8.3 billion coal project in central Queenslands Galilee Basin.The company is planning a series of coal mines near Alpha- west of Rockhampton- ... ...
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