Breaking Business News
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Dollar parity a 'mixed blessing' - PM
AUSTRALIA'S push above parity with the US dollar will have a mixed impact on the economy, Prime Minister Julia Gillard says. Read more
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Gillard 'angry at banks' for rate hike
PRIME Minister says she is angry at Commbank over its latest interest rate hike, but is ruling out regulating interest rates. Read more
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Hockey to put up banking reform laws
OPPOSITION Treasury spokesman Joe Hockey says he will introduce legislation in Federal Parliament to reform the banking system. Read more
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News Corp first quarter profit up 36pc
NEWS Corporation has posted a big lift in first quarter net profit, led by the strong performance of its cable and television divisions. Read more
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Wall St inches higher after Fed move
US stock markets closed slightly higher on Wednesday as traders weighed a long-awaited central bank move to inject massive sums into the market in a hope of reviving the sluggish economic recovery. Read more
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US Fed announces $601bn stimulus
US Federal Reserve plans to buy $601.93 billion more in Treasury bonds to try to invigorate US economy by the middle of next year. Read more
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Dollar reaches another high
THE dollar reached another post-float 28-year high overnight, pushing above parity with the US dollar after the US Federal Reserve's decided on another round of quantitative easing. Read more
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US stocks fall on $601bn stimulus plan
US are falling after the Federal Reserve said it plans to buy $US600 billion ($601.93 billion) in Treasurys to stimulate the US economy. Read more
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US stocks waver ahead of Fed announcement
STOCKS are trading in a tight range as investors turn their attention to the Federal Reserve's meeting after there were few surprises in the midterm elections. Read more
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Dollar backs away from parity - for now
THE dollar closed lower today, backing away from parity after the release of weak Australian building approvals data. Read more
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Gyngell named as PBL Media chief
PBL Media has appointed David Gyngell as its new chief executive, replacing Ian Law. Read more
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Share market hits six-month high
THE Australian share market hit a six-month high to close stronger today as investors remained optimistic about economic data from offshore due overnight. Read more
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Government is lying on reform - Hockey
THE Opposition Treasury spokesman Joe Hockey has accused the Federal Government of "lying through its teeth" over its planned banking sector reforms. Read more
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Make bank accounts portable - business
A RADICAL solution like introducing portable bank account numbers would spark competition in the banking sector, small business says. Read more
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Shares higher after Westpac result
STRONG leads from overnight trade and a high profit result from Westpac led the share higher at noon. Read more
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Dollar finds parity on weakening greenback
AN imminent decision by the US Federal Reserve to stimulate the American economy could keep the dollar above parity, analysts say. Read more
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Reforms will keep banks honest - Treasurer
THE Federal Government will implement reforms to "keep (the big banks) honest" and make the banking sector more competitive. Read more
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Building approvals fell 6.6pc in September
BUILDING approvals fell 6.6 per cent to 12,143 units in September, the Australian Bureau of Statistics (ABS) said. Read more
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Shares higher on strong offshore lead
THE share market opened higher today following positive leads from offshore trading overnight, and a big rise in profit at Westpac earlier. Read more
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Westfield creates new property trust
WESTFIELD to create a separately-listed property trust, effectively distributing $7.3 billion to security-holders. Read more
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Westpac lifts net profit 84pc to $6.34bn
WESTPAC increased full-year profit 84 per cent and said it was positive about the outlook for the economy. Read more
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Banking reforms on the way, says Swan
FEDERAL Treasurer Wayne Swan says a reform package aimed at improving competition in the banking sector will put pressure on the major banks to better behave. Read more
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US Federal Reserve to 'prime economy'
US Federal Reserve's policy panel expected to approve resumption of large-scale spending to avoid a lost decade of growth. Read more
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BP oil spill costs soar to $40 billion
THE Gulf of Mexico oil spill will cost BP $40.03 billion - one quarter more than the oil company's original estimate. Read more
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Wong cautions other lenders on rate rise
FEDERAL Finance Minister Penny Wong has cautioned other major lenders to be aware of customer reaction if they follow the Commonwealth Bank's lead in raising variable mortgage rates. Read more
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Wall St climbs ahead of elections
US stocks closed higher today as traders eyed key congressional and local elections and a meeting of the Federal Reserve that would likely decide on new economic stimulus. Read more
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Dollar pushes above parity after rate rise
THE dollar reached a post float 28-year high overnight, pushing above parity with the US dollar for the second time in a month. Read more
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Toyota asks court to dismiss claims
TOYOTA Motor Corp asked a US court to throw out lawsuits over acceleration defects in its cars, saying many of the plaintiffs never identified any defect or experienced sudden, unintended acceleration. Read more
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US stocks up before elections
US stocks are climbing in the opening moments of trading as investors await the results of midterm elections that are expected to give Republicans at least partial control of Congress. Read more
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Channel Nine boss takes PBL helm
PBL Media chief executive Ian Law is set to be replaced by Nine boss David Gyngell. Read more
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Banned accountant pockets taxpayer funds
BANNED insolvency accountant Stuart Ariff pocketed more than $70,000 in taxpayer funds even as he was the subject of a fraud investigation, new documents show. Read more
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Dollar hits parity with US again
THE dollar reached parity with the US dollar for the second time in less than a month in offshore markets. Read more
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Dollar closes higher after rate hike
THE Australian dollar closed a smidgen just under parity with the US dollar, after jumping almost a full US cent after the central bank raised official interest rates for the first time since May. Read more
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Swan accuses CBA of 'cynical cash grab'
THE country's largest home lender raised its variable standard mortgage rate by 45 basis points today after the Reserve Bank increased its cash rate by 25 basis points to 4.75 per cent. Read more
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Shares close higher after RBA rate rise
STRONGER bank stocks led the share market higher after the RBA defied expectations by lifting interest rates. Read more
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Tiffany & Co to expand to China
US jeweller Tiffany & Co aims to move into China to tap a growing demand for luxury goods by the country's emerging wealthy class. Read more
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Punters bet $98.1m on Melbourne Cup
THEY say Australians like a bet and we proved it again with a record amount of money wagered on this year's Melbourne Cup. Read more
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Rate rise could be avoided - Hockey
THE seventh interest rate rise in just over a year could have been avoided if the Federal Government had pulled back on its "reckless spending", the opposition says. Read more
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Commonwealth Bank lifts rates by 45bps
THE Commonwealth Bank has lifted its standard variable home loan rate by more than 20 points more than today's Reserve Bank hike. Read more
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Dollar rises on Reserve Bank decision
THE dollar rose almost US1c after the RBA raised its cash rate for the first time in six months today. Read more
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Interest rates go up, RBA rules
THE central bank raised interest rates to 4.75 per cent at its monthly board meeting today. Read more
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New China flights a boon for Queensland
ANOTHER 3600 Chinese tourists are expected to visit Queensland each month aboard a new service. Read more
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Dollar rebounds ahead of rate decision
THE dollar rebounded in morning trade ahead of an interest rate decision this afternoon. Read more
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Shares down on profit-taking
THE share market is fractionally lower at noon as investors await the Reserve Bank of Australia's rates decision. Read more
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Shares down before RBA announcement
THE share market opened lower today ahead of the RBA board's interest rates decision and following mixed leads in offshore trading overnight. Read more
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Dollar opens lower after positive US data
THE dollar opened slightly lower today after positive US data led investors to the US and put pressure on the local unit. Read more
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US shares retreat from early gains
THE Dow Jones industrial average is finishing flat after retreating from its highest levels of the year. Read more
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Change mining tax, government warned
A SENIOR state Labor MP has called on the federal government to change its planned mining tax or risk political oblivion in Western Australia. Read more
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Macquarie says it co-operated with ACCC
INVESTMENT bank Macquarie Group Ltd says it is surprised by comments by the ABC on its news website suggesting it had failed to respond to requests from the consumer watchdog in relation to telecommunications equipment rental contracts. Read more
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Shares strong ahead of rate decision
THE share market posted gains following stronger bank and mining stocks ahead of tomorrow's official interest rate decision by the central bank. Read more
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Dollar closes higher after China data
THE dollar closed more than one US cent higher after better than expected Chinese manufacturing data incited investor appetite for risk. Read more
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Macquarie involved in telco scam - report
MACQUARIE Group Ltd has been taken to task by the consumer watchdog for its treatment of small business owners caught up in alleged finance scams. Read more
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Dollar higher despite Japan bank rumours
THE dollar was slightly higher at noon despite losing ground on rumours that the Bank of Japan had intervened in currency markets to stop the yen appreciating against the US dollar. Read more
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No stimulus 'weighing on house prices'
WINDING back of the first home buyers grant and interest rate rises at start of the year weighing down home values, says economists. Read more
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Bank power boosts shares to noon
THE share market continued to strengthen in morning trade to be up by over 0.8 per cent at noon, led by the resources and banking sectors. Read more
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House prices up 0.1 pc September quarter
THE house price index rose 0.1 per cent in the September quarter, the Australian Bureau of Statistics said. Read more
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Banks, miners send shares higher
THE share market opened higher as the major resources and banking sectors posted early gains. Read more
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Woolies workers protest against pay cuts
HUNDREDS of Woolworths workers walked out of one of its largest warehouses, continuing a protest against its latest wage offer. Read more
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Ten offers Packer, Murdoch board seats
JAMES Packer and Lachlan Murdoch offered directorships at Ten, after reports that Mr Murdoch is to buy half of Mr Packer's stake. Read more
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Macquarie 'involved in telco scam'
MACQUARIE ignored warnings about a telco-finance scam from the ACCC head on behalf of small business owners, reports the ABC. Read more
Stock Quotes
Market Charts at 12:00AM
| Switch to Chart | Points | Change | Percent |
|---|---|---|---|
| Hang Seng | 23671.42 | +18.48 | +0.08 |
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| ASX200 | 4722.6 | +21.2 | +0.45 |
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| All Ords | 4793.8 | +20.6 | +0.43 |
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| Nikkei | 9154.72 | 0.0 | 0.0 |
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| Switch to Chart | Points | Change | Percent |
|---|---|---|---|
| DJIA | 11215.13 | +26.41 | +0.24 |
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| S&P; 500 | 1197.96 | +4.39 | +0.37 |
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| S&P; 100 | 540.21 | +2.68 | +0.5 |
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| NASDAQ | 2158.36 | +6.64 | +0.31 |
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| Switch to Chart | Points | Change | Percent |
|---|---|---|---|
| CAC 40 | 3842.94 | -22.78 | -0.59 |
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| DAX 30 | 6617.8 | -36.51 | -0.55 |
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| FTSE | 5748.97 | -8.46 | -0.15 |
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| Euro Top100 | 2278.56 | -10.82 | -0.47 |
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| Switch to Chart | Points | Change | Percent |
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| AUD/USD | 1.0059 | +0.01 | +0.64 |
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| Switch to Chart | Points | Change | Percent |
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| Oil | 84.43 | +0.54 | +0.64 |
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ASX200 - Top Gainers & Losers at 04:10PM
| Code | Name | Price | Percent |
|---|---|---|---|
| MML | Medusa Mining L.. | 5.69 | 5.56% |
| BPT | Beach Energy Li.. | 0.695 | 3.73% |
| VBA | Virgin Blue | 0.435 | 3.57% |
| CDU | CuDeco | 2.52 | -3.45% |
| CHC | Charter Hall Gr.. | 0.555 | -2.64% |
| DOW | Downer EDI Limi.. | 5.05 | -2.33% |
