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May 3, 2011

Financial & Forex Info | The Australian Business Briefing: Nation must adjust, warns Westpac CEO







 Wed  04 13:13:49 EST 2011 
Nation must adjust, warns Westpac CEO
Westpac CEO Gail Kelly UPDATED Scott Murdoch WESTPAC chief Gail Kelly said Australians needed to get used to the multi-speed economy even though the country was in an "envious" position.
Fortescue loses Pilbara railways fight
Rio Tinto Matt Chambers THE Federal Court has overturned a ruling giving Andrew Forrest's Fortescue Metals Group access to one of Rio Tinto's railways.
Macarthur Coal profit to jump 50pc
Macarthur Coal David Fickling FULL-YEAR net profit at Macarthur Coal will be about 50 per cent ahead of the previous year's figure, the company said today.
Alarms ring on rising mortgage arrears
Housing Michael Bennet ANZ and Westpac's rise in mortgage arrears highlights an "alarming" problem lurking in the broader economy, say analysts.
Australian surfer sells IT firm for $106m
pound sterling Helen Power AN AUSTRALIAN surfer who set up an e-commerce business five years ago with $1.1 million has sold it for $106 million.
Chi-X wins full exchange license
ASX Geoffrey Rogow THE government has granted a full securities exchange license to Chi-X, setting the stage for the first direct competitor to the ASX.
EA acquires Aussie Flight Control maker
Robert Murray UPDATED Chris Griffith US-based Electronic Arts said today it has agreed to buy the Australian developer of the popular "Flight Control" game for mobile devices.
Coca Cola targets 5pc profit growth
Coca Cola Rebecca Thurlow COCA Cola Amatil is targeting around 5 per cent growth in first-half net profit, despite hits from natural disasters and the Australian dollar.
Financial Markets
Stocks fall to five-week low
ASX THE Australian sharemarket has slipped to a five-week low, as banks and big resources companies come under selling pressure.
India's central bank increases rates
Silver's 7.6pc tumble hits gold, oil
Financial Markets Coverage
Mining & Energy
Fortescue loses Pilbara railways fight
Rio Tinto Matt Chambers THE Federal Court has overturned a ruling giving Andrew Forrest's Fortescue Metals Group access to one of Rio Tinto's railways.
India to squeeze steelmaker's margins
Rio rumours spur Alcoa options run
More Mining & Energy Coverage

ABC News Australia | Australia Business News: Infrastructure Woes Hamper Mine Study



Infrastructure woes hamper mine study
A shortage of rail and port facilities has delayed a study into a proposed Bowen Basin coal mine, south-west of Mackay in north Queensland.

South Korean police raid Google offices
South Korean police on Tuesday raided Google's local office to investigate whether the global search company used its mobile phone advertising platform to illegally collect private location data.

Death of bin Laden spawns memorabilia rush
The killing of Osama bin Laden quickly spawned a mini-industry of memorabilia, with street vendors and online stores busily peddling trinkets to celebrate and commemorate the moment.

More Business Stories >

Financial and Forex Info | The Australian Business Briefing : Chinese Circle Burrup Fertilisers







Chinese circle Burrup Fertilisers
burrup fertilisers Andrew Burrell CHINESE state-owned fertiliser giant Sinofert has emerged as a major contender in the five-way battle to buy Burrup Fertilisers.
 
Silver's 7.6pc tumble hits gold, oil
Pouring melted silver Tatyana Shumsky SHARP declines in silver, alongside a stronger US dollar, helped end gold's four-day winning streak today as investor sentiment soured.
 
Portugal to get $107bn bailout
Jose Socrates Patricia Kowsmann PORTUGAL will receive $107 billion in EU and IMF aid, in a deal described as less draconian than what Greece and Ireland received.
 
Wall St mixed as Pfizer weighs
Wall St Jonathan Cheng US stocks closed mixed today as investors dumped Pfizer and resource shares and headed for the safety of bonds and telcos.
 
Court to rule on stolen tax data
ATO Susannah Moran THE question of whether the taxman can use stolen data obtained by a convicted criminal will be ruled on by the full Federal Court.
 
ANZ's wake-up call for industry
ANZ CEO Mike Smith Scott Murdoch ANZ chief executive Mike Smith has warned that Australia is not prepared for the "structural" shift of the economy.
 
Virgin goes upmarket, no blue
Virgin Blue Steve Creedy VIRGIN Blue will rebrand its operations Virgin Australia today.
 
Fairfax outsources production
Fairfax CEO, Greg Hywood James Chessell FAIRFAX Media's contentious decision to outsource a key part of the production process at its flagship mastheads has angered staff.
 
Financial Markets
Silver's 7.6pc tumble hits gold, oil
Pouring melted silver Tatyana Shumsky SHARP declines in silver, alongside a stronger US dollar, helped end gold's four-day winning streak today as investor sentiment soured.
 
Wall St mixed as Pfizer weighs
Oil slides 2.2pc on demand concerns
 
Financial Markets Coverage
 
Mining & Energy
Silver's 7.6pc tumble hits gold, oil
Pouring melted silver Tatyana Shumsky SHARP declines in silver, alongside a stronger US dollar, helped end gold's four-day winning streak today as investor sentiment soured.
 
Namibia rules out mine nationalisation
Good demand for Woodside bond issue
 
More Mining & Energy Coverage



Financial & Forex Info | The Australian Capital Circle: Questions for Pakistan as Bin Laden Raid Details Emerge


Capital Circle Newsletter


Questions for Pakistan as Bin Laden raid details emerge
 
While the world debates the death of Osama Bin Laden, at home Newspoll shows Julia Gillard's carbon troubles continue.

The PM's Diary: Julia Gillard is in Sydney and will visit Southern Cross Catholic Vocational College today (and thanks to the Catholic Education office, Sydney, for letting the world know via Twitter last night). The PM will discuss carbon tax compensation with big emitting industries and power generators at a dinner tonight at Kirribilli House (report). The dinner comes as Newspoll shows voters are overwhelmingly against her carbon tax.
Tony Abbott is in Melbourne and will deliver a speech to VECCI at lunch time today. Mr Abbott will tell the lunch that next week's federal budget represents Julia Gillard's last chance to demonstrate competence (report).
Help wanted: Want to work for the Greens? The balance-of-power party has 17 vacancies at present, with all but one in the offices of incoming Senators Lee Rhiannon, Richard di Natale, Penny Wright and Larissa Waters.
Coup: Perhaps Environment Minister Tony Burke could offer the Greens some advice, following a double recruiting coup. Mr Burke has hired a new chief-of-staff and deputy chief-of-staff. Former PMO environment adviser John McLean has been lured to Mr Burke's office to serve as his chief-of-staff. And the former Labor Member for Monaro in the NSW parliament, Steve Whan, is joining Mr Burke's office too, as deputy COS. The recruits replace Mr Burke's former COS, Skye Laris, who left in March to join GetUp! (report)
In Canberra today:< p>
Read more...