Finance News, Friday 7th October 2011
Private funeral held for Steve Jobs- WSJ
The Wall Street Journal is reporting that a private funeral is being held for Apple co-founder Steve Jobs.An intensely private man in life- his family was bidding farewell to Jobs on Friday in an intimate ... ...Fri 7th October 2011 - 11:48pm
Leaders meet on crunch weekend for European banking
International Monetary Fund managing director Christine Lagarde was due in Paris on Saturday for talks with President Nicolas Sarkozy on a crunch weekend for the European debt crisis.After his talks with ... ...Fri 7th October 2011 - 04:32pm
Smartphone war pauses as world mourns Steve Jobs
The launch of a hot new Google smartphone was delayed as the world mourned the loss of legendary Apple co-founder Steve Jobs and sales began of the latest iPhone.Unconfirmed word also spread that a private ... ...Fri 7th October 2011 - 04:27pm
Euro leaders race to shore up banks
Europes leaders have sought to reassure investors the continents banks are safe- stepping up calls for cash injections to prevent a credit crunch.German Chancellor Angela Merkel- who has said ... ...Fri 7th October 2011 - 04:17pm
Stocks mixed at midday
US stocks were barely changed at midday after a small pickup in hiring last month failed to bring down the unemployment rate.The Labour Department said on Friday that employers added 103-000 jobs last ... ...Fri 7th October 2011 - 04:05pm
Delays expected as Qantas engineers strike
Qantas says more than 11-000 passengers will have their travel plans disrupted by an engineers strike on Monday.It will be the airlines biggest day yet of industrial action when engineers walk off ... ...Fri 7th October 2011 - 03:24pm
US stocks mixed on jump in job creation
US stocks were mostly higher in opening trade on Friday- lifted by a labour market report showing the economy created more jobs than expected in September.The Dow Jones Industrial Average added 44.88 points ... ...Fri 7th October 2011 - 01:50pm
US economy added 103-000 jobs in Sept
US employers added 103-000 jobs in September- a modest burst of hiring after a sluggish summer.Still- job growth remains too weak to lower the unemployment rate- which stayed at 9.1 per cent for the third ... ...Fri 7th October 2011 - 01:05pm
US business leaders call for more foreign investment
US officials and business leaders stressed the need Friday to encourage China- India- Brazil and other countries to increase their investments in the United States as a means to create US jobs.In ... ...Fri 7th October 2011 - 10:21am
US stocks sink after Italy- Spain ratings cut
Wall Street stocks closed in the red Friday after a credit downgrade on Italy and Spain overtook a rally on better-than-expected US jobs numbers.The Dow Jones Industrial Average shed 19.00 points 0.17 ... ...Fri 7th October 2011 - 10:09am
Chinese automaker confirms Brazil factory plan
Chinese automaker JAC Motors said Friday it will invest 500 million to build a factory in Brazils northeastern Bahia state- its first outside China.The factory- slated to open in 2014- will have ... ...Fri 7th October 2011 - 09:39am
Fitch cuts Italy- Spain ratings over euro crisis
Fitch cut its credit ratings on Italy and Spain Friday- citing the increasing pressure on them as the eurozone debt crisis makes efforts to stabilise their public finances even more difficult.The eurozone ... ...Fri 7th October 2011 - 09:27am
Fairfax agrees to regional radio sale
Fairfax Media has agreed to sell its regional radio assets in South Australia and Queensland to family owned Grant Broadcasters.The media giant said the deal was expected to be complete late this month ... ...Fri 7th October 2011 - 08:44am
Fitch cuts Italy credit rating over euro crisis
Fitch cut Italys credit rating by one notch to A from AA- with a negative outlook on Friday- following downgrades by Moodys and Standard -amp Poors as the country comes under increasing pressure ... ...Fri 7th October 2011 - 08:31am
Local shares continue to climb
Australian shares have rallied strongly for a second day to finish more than 2 per cent higher.Plans by European authorities to help struggling banks again boosted local stocks.Cameron Peacock from IG ... ...Fri 7th October 2011 - 08:13am
Sharks drawn to caged tourists off SA coast
A plan has been drawn up to cut the number of permits for great white shark cage diving tours off the South Australian coast.Research has found the sharks behaviour has changed.The Neptune Islands ... ...Fri 7th October 2011 - 08:05am
US business leaders call for more foreign investment
US officials and business leaders stressed the need Friday to encourage China- India- Brazil and other countries to increase their investments in the United States as a means to create US jobs.In ... ...Fri 7th October 2011 - 07:49am
Fitch cuts Italy credit rating over euro crisis
Fitch cut Italys credit rating by one notch to A from AA- with a negative outlook on Friday- following downgrades by Moodys and Standard -amp Poors as the country comes under increasing pressure ... ...Fri 7th October 2011 - 07:47am
IMF to Australia- boost buffers as mining booms
The International Monetary Fund said Friday that Australia needs to take advantage of the ongoing mining boom to enact tax reforms and build a rainy-day fiscal cushion.Calling Australias economic ... ...Fri 7th October 2011 - 07:45am
Euro leaders race to shore up banks
Europes leaders scrambled Friday to reassure investors the continents banks were safe- stepping up calls for fresh cash injections as Paris played down reported differences with Germany over ... ...Fri 7th October 2011 - 07:44am
Sharks drawn to caged tourists off SA coast
A plan has been drawn up to cut the number of permits for great white shark cage diving tours off the South Australian coast.Research has found the sharks behaviour has changed.The Neptune Islands ... ...Fri 7th October 2011 - 07:25am
Obama issues stern warning on eurozone crisis
United States president Barack Obama is warning that the American economy is weakening and vulnerable to Europes financial problems.Calling the common currency blocs sprawling debt crisis the ... ...Fri 7th October 2011 - 07:10am
Sharks drawn to caged tourists off SA coast
A plan has been drawn up to cut the number of permits for great white shark cage diving tours off the South Australian coast.Research has found the sharks behaviour has changed.The Neptune Islands ... ...Fri 7th October 2011 - 07:10am
Sharks drawn to caged tourists off SA coast
A plan has been drawn up to cut the number of permits for great white shark cage diving tours off the South Australian coast.Research has found the sharks behaviour has changed.The Neptune Islands ... ...Fri 7th October 2011 - 07:08am
A gains as confidence flows from Europe
The Australian dollar gained more than one US cent as relief from the easing of pressure in the European debt zone was felt in markets worldwide.At 1700 AEDT on Friday- the Australian dollar was trading ... ...Fri 7th October 2011 - 07:03am
Bechtel says local content plans okay
Global engineering giant Bechtel says it has no problem with Commonwealth plans to pressure miners to buy Australian- despite its own lead role in the local gas sector.Bechtels mining and metals president- ... ...Fri 7th October 2011 - 07:00am
Labour shortage tops gas industry carbon tax fears
A Liquefied Natural Gas group says there are more pressing problems for the oil and gas industry than the Federal Governments carbon tax plan.Shadow Resources Minister Ian Macfarlane has told a South-East ... ...Fri 7th October 2011 - 06:59am
Moodys cuts credit ratings of 12 British banks
Moodys on Friday downgraded its credit ratings for a dozen British lenders- including state-rescued Royal Bank of Scotland and Lloyds TSB- due to the removal and curtailment of government financial ... ...Fri 7th October 2011 - 06:50am
Petition against iron ore mine pipeline plan
Marra indigenous elders say they are organising a petition against a mining company proposal to pipe iron ore across Marra Aboriginal Land Trust land to Maria Island on the Gulf of Carpentaria.Western ... ...Fri 7th October 2011 - 06:47am
European shares- euro gain
European stocks closed firmer after a week of very sharp gains and the euro strengthened on positive jobs data from the US and growing signs that a coordinated rescue for eurozone banks is in the works.A ... ...Fri 7th October 2011 - 06:47am
10 days to save Europes banks
As Europe races to rescue its banks- the EU executive on Friday gave governments 10 days to agree on coordinated plans to recapitalise lenders hit by the eurozone debt crisis.The deadline comes as the ... ...Fri 7th October 2011 - 06:46am
Labour shortage tops gas industry carbon tax fears
A Liquefied Natural Gas group says there are more pressing problems for the oil and gas industry than the Federal Governments carbon tax plan.Shadow Resources Minister Ian Macfarlane has told a South-East ... ...Fri 7th October 2011 - 06:41am
Australian shares post best week in 1 year
Australian shares have posted the best week in over a year as money flowed back into stocks on confidence European banks will be strengthened against a possible Greek default.The local market closed in ... ...Fri 7th October 2011 - 06:24am
Local shares continue to climb
Australian shares have rallied strongly for a second day to finish more than 2 per cent higher.Plans by European authorities to help struggling banks again boosted local stocks.Cameron Peacock from IG ... ...Fri 7th October 2011 - 06:14am
Bond market finishes wash-out day lower
The Australian bond market has finished a wash-out day weaker after a good day for equities and the local currency.The local stock market closed in the black for the third straight day on Friday ... ...Fri 7th October 2011 - 06:14am
Economy well placed for global woes- IMF
The International Monetary Fund IMF believes Australias economy is well positioned should global financial market woes intensify.While the Washington-based institution warns global market volatility ... ...Fri 7th October 2011 - 06:09am
Australia shares end up 2.3 pct on Euro bank plan hopes
MARKETS-AUSTRALIA-STOCKS-Australia shares end up 2.3 pct on Euro bank plan hopes ...Fri 7th October 2011 - 06:07am
EU gives states 10 days to coordinate bank rescue
As Europe races to rescue its banks- the EU executive on Friday gave governments 10 days to agree on coordinated plans to recapitalise lenders hit by the eurozone debt crisis.The deadline comes as the ... ...Fri 7th October 2011 - 05:59am
Gold price forecasts still bullish
Gold price forecasts for 2012 remain bullish after unusual volatility in August and September- with some analysts tipping an eye-catching US2-200 per fine ounce.The price of gold- the usual hedge during ... ...Fri 7th October 2011 - 05:56am
Australian shares post best week in 1 year
Australian shares have posted the best week in over a year as money flowed back into stocks on confidence European banks will be strengthened against a possible Greek default.The local market closed in ... ...Fri 7th October 2011 - 05:52am
European stocks close firmer
European stock markets closed firmer on Friday after a week of very sharp gains- with Londons FTSE-100 index of leading shares up 0.23 percent at 5-303.40 points.In Frankfurt- the DAX gained 0.54 ... ...Fri 7th October 2011 - 05:50am
EU gives states 10 days to coordinate bank rescue
As Europe races to rescue its banks- the EU executive on Friday gave governments 10 days to agree on coordinated plans to recapitalise lenders hit by the eurozone debt crisis.The deadline comes as the ... ...Fri 7th October 2011 - 05:48am
Marra people split on iron ore mine pipeline plan
Marra indigenous elders say they are organising a petition against a mining company proposal to pipe iron ore across Marra Aboriginal Land Trust land to Maria Island on the Gulf of Carpentaria.Western ... ...Fri 7th October 2011 - 05:46am
Bank of Japan holds key rate steady
The Bank of Japan says its board has voted unanimously to keep its key rate unchanged between zero and 0.1 per cent as it continues with earlier measures to help safeguard Japans fragile recovery.The ... ...Fri 7th October 2011 - 05:27am
Australia shares up 2.3 pct on Euro bank action hopes
MARKETS-AUSTRALIA-STOCKS-Australia shares up 2.3 pct on Euro bank action hopes ...Fri 7th October 2011 - 05:24am
US sees surprise job boost
The Labor Department on Friday reported a surprise jump in US job creation- providing a rare glimmer of hope about the state of the worlds largest economy even as the unemployment rate remained painfully ... ...Fri 7th October 2011 - 05:20am
Aust shares post best week in over a year
The Australian share market has posted its best week of gains in over a year as money flowed back into shares on confidence European banks will be strengthened against a possible Greek debt default.At ... ...Fri 7th October 2011 - 05:20am
Diet change would ease food pressure
It may be a struggle to feed the worlds forecast nine billion people in 2050 unless the world changes its Western diet- says fertiliser and agribusiness giant Agrium.Agrium Asia Pacific ... ...Fri 7th October 2011 - 05:13am
Bank of Japan holds key rate steady
The Bank of Japan says its board has voted unanimously to keep its key rate unchanged between zero and 0.1 per cent as it continues with earlier measures to help safeguard Japans fragile recovery.The ... ...Fri 7th October 2011 - 05:12am
Thousands of German Airbus workers on strike- union
Some 11-000 employees of aircraft manufacturer Airbus downed tools Friday- the IG Metall union said- after bosses and workers failed to agree a new wage accord.Negotiations broke down last month after ... ...Fri 7th October 2011 - 05:01am
Aussie -amp NZ dlrs extend gains post-ECB- US jobs loom
MARKETS-AUSTRALIA-FOREX-Aussie -amp NZ dlrs extend gains post-ECB- US jobs loom ...Fri 7th October 2011 - 04:56am
European shares- euro steady after US jobs data
European stocks gained and the euro strengthened on positive jobs data from the US and growing signs that a coordinated rescue for eurozone banks is in the works.A day after the European Central Bank and ... ...Fri 7th October 2011 - 04:48am
Euro leaders race to shore up banks
Europes leaders on Friday sought to reassure investors the continents banks were safe- stepping up calls for cash injections to prevent a credit crunch.German Chancellor Angela Merkel- who has ... ...Fri 7th October 2011 - 04:45am
Samsung tips lower Q3 operating profit
Samsung Electronics says it expects third-quarter operating profit of around A3.63 billion- a 13.6 per cent fall year-on-year amid weak demand for flat panels and computer chips.The South Korean firm ... ...Fri 7th October 2011 - 04:31am
BoJ holds key rate steady
The Bank of Japan says its policy board has voted unanimously to keep its key rate unchanged between zero and 0.1 per cent.It also extended a loan program for financial institutions in areas affected by ... ...Fri 7th October 2011 - 04:01am
Obama issues stern warning on eurozone crisis
United States president Barack Obama is warning that the American economy is weakening and vulnerable to Europes financial problems.Calling the common currency blocs sprawling debt crisis the ... ...Fri 7th October 2011 - 03:52am
Europe- China must act on economy- Obama
Facing a tough reelection fight- US President Barack Obama has warned Europes debt crisis could severely impact the fragile American recovery if Republicans baulk at passing his US447 billion A460.75 ... ...Fri 7th October 2011 - 03:52am
Serco shortlisted as Sydney ferry operator
The company that runs Australias immigration detention centres has made the short list to operate Sydneys ferries.Harbour City Ferries and Transit Systems are the other two bidders on the list.Security ... ...Fri 7th October 2011 - 03:00am
Surprise jump in US job creation in September
The US economy created 103-000 jobs in September- the Labor Department reported Friday- a much stronger clip than expected- despite the unemployment rate being stuck at 9.1 percent.The private sector accounted ... ...Fri 7th October 2011 - 02:39am
S-ampP maintains Dexia investment grade rating
Standard -amp Poors cut its rating of troubled cross-border European bank Dexia by one notch on Friday to A- maintaining it at investment grade despite efforts underway to bail it out.The downgrades ... ...Fri 7th October 2011 - 02:30am
Belgium seeks to strengthen position in Dexia
Belgian finance minister Didier Reynders indicated on Friday that his government is aiming to up its stake in failing bank Dexia.In the negotiations with our French partners- we are going to find ... ...Fri 7th October 2011 - 02:22am
Construction activity stays very weak
Activity in the Australian construction sector is still in the doldrums- as a lack of consumer and investor confidence takes its toll- a report shows.The Australian Industry Group-Housing Industry Associations ... ...Fri 7th October 2011 - 02:13am
Patrick workers walk off the job at Fremantle Port
A 24 hour strike by about 90 workers at the Patricks operations at Fremantle Port is continuing but the Maritime Union says industrial action in Dampier has been called off.Forty stevedores working ... ...Fri 7th October 2011 - 02:11am
Top court upholds Soros insider conviction
Europes top rights court has upheld a 2002 conviction by a French court of US billionaire George Soros for insider trading.In a four-to-three ruling- the European Court of Human Rights ECHR on Thursday ... ...Fri 7th October 2011 - 02:08am
Nissan pump 1.5bn into first Brazil plant
Nissan will invest US1.5 billion A1.56 billion in a new factory in Brazil- where it hopes to produce more than 200-000 units per year.Nissan to date has no manufacturing facility of its own in South ... ...Fri 7th October 2011 - 02:08am
A up as Eurozone pressure eases
The Australian dollar gained almost one US cent by noon as global markets rallied after the European Central Bank said it would keep assisting banks to avert a possible credit crunch.At 1200 AEDT on Friday- ... ...Fri 7th October 2011 - 01:46am
Noon stocks higher on positive sentiment
Australian shares rose by almost two per cent- boosted by investors confidence that a Greek default would not extend beyond Europe.The local market opened more than one per cent firmer on Friday- ... ...Fri 7th October 2011 - 01:45am
Cost of new prison blows out to 495 million
Northern Territory Treasurer Delia Lawrie says the plan to spend nearly half-a-billion dollars on a prison near Palmerston is a very good result.The Territory government has announced it has ... ...Fri 7th October 2011 - 01:18am
Aussie -amp NZ dlrs hold gains post-ECB- US jobs loom
MARKETS-AUSTRALIA-FOREX-Aussie -amp NZ dlrs hold gains post-ECB- US jobs loom ...Fri 7th October 2011 - 01:11am
Stocks to watch at noon on Friday
Stocks to watch on the Australian stock exchange at noon on Friday-CBD - CBD ENERGY LTD - up 0.6 cents- or 7.32 per cent- at 8.8 centsRenewable energy company CBD Energy will buy Victorian-based energy ... ...Fri 7th October 2011 - 01:04am
Government targets construction unions
The Victorian Government is pushing for changes to the way unions operate on state-funded construction projects.They include forcing construction firms tendering for Government contracts to deal with unlawful ... ...Fri 7th October 2011 - 01:00am
Local market building on yesterdays gains
The Australian share market is adding to yesterdays gains- climbing close to 2 per cent.In morning trade- the All Ordinaries index was up 79 points to 4-211 and the ASX 200 was up 1.97 per cent.The ... ...Fri 7th October 2011 - 12:57am
Australia shares rise 2 pct on hopes for European action
MARKETS-AUSTRALIA-STOCKS-Australia shares rise 2 pct on hopes for European action ...Fri 7th October 2011 - 12:56am
Samsung tips lower Q3 operating profit
Samsung Electronics says it expects third-quarter operating profit of around A3.63 billion- a 13.6 per cent fall year-on-year amid weak demand for flat panels and computer chips.The South Korean firm ... ...Fri 7th October 2011 - 12:51am
Construction activity stays terribly weak
EDS- NOT to be used until 0930 Friday- October 7- 2011SYDNEY- Oct 7 AAP - Activity in the Australian construction sector is still in the doldrums- as a lack of consumer and investor confidence takes its ... ...Fri 7th October 2011 - 12:43am
Local market building on yesterdays gains
The Australian share market is adding to yesterdays gains.In early trade- the All Ordinaries index was up 57 points to 4-189 and the ASX 200 was up 1.5 per cent to 4-130.The early rises follow the ... ...Fri 7th October 2011 - 12:19am
Patrick workers walk off the job at Fremantle Port
The Maritime Union says about 90 Patrick workers at Fremantle Port walked off the job this morning in a 24 hour industrial action.And negotiations are currently underway between workers at Mermaid Marine ... ...Fri 7th October 2011 - 12:09am
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