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Mar 8, 2011

Financial And Forex Info | The Australian Business Briefing.








update for Wed Mar 09 12:47:20 EST 2011
Rudy Gomez strikes it rich on OZ buy
Oz Minerals UPDATED David Fickling OZ Minerals will spend up to $US325 million buying the Carrapateena project in South Australia controlled by mining prospector Rudy Gomez.
Low inflation key in mining boom: RBA
RBA James Glynn KEEPING inflation low and stable was important to manage the economy during the mining boom, a Reserve Bank assistant governor said today.
Mine giants face wide bribery crackdown
mining Robert Guy Matthews MINING giants face tougher anti-bribery laws as nations legislate for closer oversight of staff in countries where corruption is rampant.
Consumer sentiment hits 9-month low
Consumers James Glynn AN index of consumer sentiment in Australia fell 2.4 per cent in March from February, hitting a nine-month low that surprised analysts.
$8bn in planned IPOs to test Hong Kong
Hong Kong Stock Exchange trader Prudence Ho and Yvonne Lee UP to $8 billion in IPOs will soon test Hong Kong, but the timing may be off as Australia's Galaxy and Resourcehouse also join the queue.
Record orders for Japanese machinery
japan Takashi Mochizuki FOREIGN orders for Japanese machinery surged 71.4 per cent in January, the highest on record, on strong demand from Asia.
Facebook to offer movie rentals
facebook Steven Russolillo FACEBOOK, the social network giant, will begin competing in the online movie-rental market by offering select Warner Bros movies.
Microsoft's $US1bn mobile phone bill
Microsoft Murad Ahmed MICROSOFT is believed to be paying Nokia more than $US1 billion to develop and market mobile phones run on Windows.
Financial Markets
Resources sector weighs on sharemarket
stock market THE Australian sharemarket remained lower by early afternoon, with the resources sector falling due to lower commodity prices.
Wall Street rallies on upbeat bank CEO
Oil price dips on Gaddafi exit debate
Financial Markets Coverage
Mining & Energy
Rudy Gomez strikes it rich on OZ buy
Oz Minerals UPDATED David Fickling OZ Minerals will spend up to $US325 million buying the Carrapateena project in South Australia controlled by mining prospector Rudy Gomez.
Mine giants face wide bribery crackdown
Low inflation key in mining boom: RBA
More Mining & Energy Coverage

Business Breaking News
 
04:00pm Tomorrow's Calendar of Events
12:30pm Peninsula Energy: High Grade Dril...
12:28pm Resources sector weighs on sharemarket
12:23pm $8bn in planned IPOs to test Hong Kong
12:18pm Mixed reaction to OZ acquisition
12:04pm Record orders for Japanese machinery
12:00pm Renaissance Minerals: Drilling at...
11:55am Predictive Acquisition of Bangaba...
11:46am Home loans fall 4.5pc in January
11:40am Big banks uneasy about exit fee ban
11:39am Rudy Gomez strikes it rich on OZ buy
11:16am Shares dragged down by miners
11:14am Consumer sentiment hits 9-month low
11:09am Elitist board quota needs to change
10:55am Terry Davis offloads Coca-Cola shares

Financial And Forex Info: The Australian Capital Circle: Carbon tax spooks the horses.





Capital Circle Newsletter


Carbon tax spooks the horses
 
As Julia Gillard's United States visit continues, in Australia her caucus - and independent Tony Windsor - are getting nervous about the carbon tax.

The PM's day, per the press office: Julia Gillard's US trip is continuing. Overnight she met US Secretary of State, Hillary Clinton and Secretary of Education Arne Duncan. Ms Gillard also delivered a speech at the international women of courage awards , called for the Doha round of trade talks to be restarted and visited an exhibition "Enduring Bond - ANZUS at 60" with US Senator John McCain. This afternoon she will meet the president of the World Bank, Robert Zoellick.
Tony Abbott has begun his day in Melbourne. He went on Alan Jones' radio show this morning, continuing his campaign against the carbon tax. Mr Abbott warned today that "We can't live a modern lifestyle without energy'' and again called for Ms Gillard to seek a mandate at the polls for the carbon tax. "This is a bad tax based on a lie and I think people are just starting to realise the government has got it wrong.''
Former Victorian ALP state secretary Nick Reece will be joined by a yet to be appointed co-director running the new a strategy unit in the PM's office. Tanya Plibersek's deputy chief-of-staff, Patrick Low, will also be joining the unit. The CCSTU, or Caucus Committee Support and Training Unit - successor to the infamous Hawke/Keating aNiMaLS, or National Media Liaison Service - will be part of the new strategy unit. And the three person RTW or round the world team, which currently provides daily news summaries and briefings for the ALP and is based out of the PMO, will also be part of the strategy unit.
The RTW team will need a new team leader: Andrew Porter is set to leave the PMO to become media adviser to Defence Minister Stephen Smith.
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The Sydney Morning Herald leads its federal politics
Read more...

MarketWatch: Personal Finance Daily: Unemployment is under 4% in some places

MarketWatch
Personal Finance Daily
MARCH 08, 2011

Tuesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:
The job market is showing some signs of improvement — the job report for February showed the economy gaining almost 200,000 nonfarm jobs, and a new survey from Manpower today indicates that more employers plan to hire in the upcoming second quarter than did a year ago. But obviously, we're still a long way from healthy.

Except, that is, in North Dakota, where the unemployment rate is under 4%. So, should desperate job seekers head north? Not necessarily, says Ruth Mantell in her column today.

Read her story for more on whether it makes sense to move to find work, plus find out how much money the top-earning federal government workers make. Not surprisingly, President Barack Obama heads the Top 10 list of government salaries, but you will not believe who is at the No. 2 spot: the Postmaster General, head of the U.S. Postal Service.

Andrea Coombes , Personal Finance editor

THE JOB MARKET

Jobless rates vary but moving for work is risky

States' unemployment rates vary widely and job seekers may be tempted to move to where the employment grass is greener, but moving for a job may not pay off in the long term.
Read more: Jobless rates vary but moving for work is risky.


Employers' hiring plans up slightly from year ago

Employers' hiring plans are slightly higher than they were a year ago, and they're holding steady compared with the first quarter, according to the latest Manpower survey. But they're nowhere near the pace seen in a robust job market.
Read more: Employers' hiring plans up slightly from year ago.


President Obama tops government-pay Top 10 list

Little surprise that the president gets the biggest publicly disclosed federal salary, but who'd have guessed the postmaster general earns more than the vice president?
Read more: President Obama tops government-pay Top 10 list.


Mulally reaps big rewards for Ford's revival

Charlie Sheen made almost $2 million for each lame episode of "Two and a Half Men." San Francisco Giants pitcher Barry Zito will earn $18.5 million this year for his 78-mph fastball and abysmal earned-run average.
Read more: Mulally reaps big rewards for Ford's revival.


Israel minimum wage set to exceed America's

The political upheaval across the Middle East has just been joined by two unlikely protagonists: Israel's unions, which used the regional unrest smartly, and the Israeli taxpayer, whom organized labor managed to swindle while public attention was focused on the dramas in Libya, Egypt, Tunisia and Bahrain.
Read more: Israel minimum wage set to exceed America's.


REAL ESTATE

Home buyers to pay more for FHA loans

As one of the few backers of low-down-payment mortgages in a time of stringent lender underwriting, the Federal Housing Administration has become a primary means of financing for U.S. home buyers.
Read more: Home buyers to pay more for FHA loans.


RETIREMENT

How to cash out in retirement

There's no rest for retirement investors. They spend decades worrying about the best way to put money into their accounts—and then they have to find the best way to take it out.
Read more: How to cash out in retirement.


PERSONAL TECH

How the iPad 2 could cost you more than the Xoom

Apple chief Steve Jobs has created the widespread impression that the new iPad is better and cheaper than Motorola's Xoom. That's not exactly true, writes Brett Arends.
Read more: How the iPad 2 could cost you more than the Xoom.


Apps for investors to trade on the go

It's getting easier to buy and sell mutual funds on the go, as fund companies and brokerages roll out smartphone applications.
Read more: Apps for investors to trade on the go.


INVESTING

Ultrashort bond funds can be long on risk

Many financial advisers see ultrashort bond funds as offering too little reward for the amounts of risk they still carry — especially in the event that interest rates increase.
Read more: Ultrashort bond funds can be long on risk.


Smallest shares go their own way

If small-stock funds falter as expected, there's one type that may do just fine: microcaps, or funds that invest in the tiniest of stocks.
Read more: Smallest shares go their own way.


Deflation worries receding fast

It wasn't that many weeks ago that investors were obsessed by deflation. Today, in contrast, such a preoccupation would appear to be a fast-fading memory, reports Mark Hulbert.
Read more: Deflation worries receding fast.


Facebook tells Netflix: Watch your back

Facebook is putting a big scare into Netflix and its stockholders, writes Jon Friedman.
Read more: Facebook tells Netflix: Watch your back.


Facebook friends city of Menlo Park

Facebook hasn't moved to its sprawling new campus yet, but it's already having an impact on one small Silicon Valley city, writes Therese Poletti.
Read more: Facebook friends city of Menlo Park.


ECONOMY & POLITICS

The 2008 crash isn't over, only covered up

Phase 2 of the 2008 meltdown is already in full swing as the Reaganomics Brain aggressively races to complete unfinished business, which will implode Wall Street banks and the Fed, ending the reign of the dollar as the world's reserve currency.
Read more: The 2008 crash isn't over, only covered up.


American economy suffers gas pains

The brouhaha caused by the recent jump in oil prices is justified — even though we are more energy-efficient than we were before the first oil shock some 37 years ago, writes Irwin Kellner.
Read more: American economy suffers gas pains.


Diamond likely blocked in third run at Fed role

President Obama's nomination of Nobel Prize-winning economist Peter Diamond to be a Federal Reserve governor looks blocked for a third time as a key senator again voiced his opposition to the selection.
Read more: Diamond likely blocked in third run at Fed role.

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Financial And Forex Info | The Australian Business Briefing: Wall Street rallies on upbeat bank CEO

 





Wall Street rallies on upbeat bank CEO
Wall St UPDATED Jonathan Cheng SOARING bank shares led the US stockmarket higher today as Bank of America raised hopes it will increase dividends and share buybacks.
 
Woolies' earnings outlook brighter
Woolworths chief executive Michael Luscombe Tracy Lee THERE are signs of a turnaround at Woolworths' discount chain, Big W, prompting a brighter earnings outlook for the retailing giant.
 
Former Visy exec may resurrect feud
Former Visy Richard Gluyas A FORMER senior executive at Visy says he could resurrect a $100 million-plus claim for equity in the paper and packaging group.
 
Pity Pratt not able to see case end
Richard Pratt Cameron Stewart IF only Richard Pratt had lived long enough to hear the news that the last chapter of the price-fixing scandal had finally been settled.
 
Kelly staying at Westpac
gail kelly Scott Murdoch WESTPAC chief executive Gail Kelly has given the strongest indication yet she is in for the long haul at Australia's second-largest bank.
 
Record sums destined for hedge funds
people shadows Miles Costello and David Robertson INVESTORS are expected to pour record sums into hedge funds this year, with estimates the figure could be as high as $US210 billion.
 
Banks set for credit card brawl
banks Scott Murdoch THE major Australian banks are preparing to fight Labor's plan to scrap credit card over-the-limit fees and ban credit limit upgrades.
 
Chinese bid puts Extract in play
Rio Tinto Sarah-Jane Tasker EXTRACT Resources is in play, with speculation Rio Tinto could enter a bidding war for it after China moved on the group's major shareholder.
 
Financial Markets
Wall Street rallies on upbeat bank CEO
Wall St UPDATED Jonathan Cheng SOARING bank shares led the US stockmarket higher today as Bank of America raised hopes it will increase dividends and share buybacks.
 
Oil price dips on Gaddafi exit debate
Record sums destined for hedge funds
 
Financial Markets Coverage
 
Mining & Energy
Shell keen to drill off Ningaloo reef
Ningaloo Reef Andrew Burrell SHELL has applied to drill for oil and gas less than 50km from the edge of prized Ningaloo Reef.
 
Oil price dips on Gaddafi exit debate
Gold slips but holds above $US1400
 
More Mining & Energy Coverage