Business Breaking News

Tuesday, 4 February

Competition will keep mortgage rates low

5:24PM COMPETITION among home lenders is expected to remain fierce despite signs the Reserve Bank of Australia has ended its rate cut cycle.

RBA signals end of rate cut cycle

5:05PM THE central bank has kept the cash rate unchanged at 2.5 per cent and indicated there won't be any more rate cuts in the forseeable future.

NZ stocks drop in global crimp

4:38PM THE NZX 50 Index has lost about one per cent but Mark Lister of Craigs Investment Partners says the market held up better than others.

Stocks to watch at close on Tuesday

4:22PM STOCKS of interest on the Australian Securities Exchange at the close on Tuesday

Kiwi drops to two-month low against Aussie

4:17PM THE Reserve Bank of Australia's change in stance on interest rates has led to the kiwi dollar dropping against the Aussie.

REA Group committed to global expansion

4:05PM REAL estate advertiser REA Group is sticking with its global expansion plans after strong growth in Australia drove a 37 per cent profit rise.

Not more rate cuts for now: RBA

3:16PM THE RBA has signalled no more rates cuts for the time being as it waits for unemployment to rise further before topping out.

Downer EDI lifts first half profit

12:55PM ENGINEERING group Downer EDI says it is on track to meet its guidance for the full financial year as it cuts costs to offset a slide in earnings.

Yum's 4Q net income down

12:09PM REFINANCING costs has pulled down Pizza Hut and Taco Bell owner Yum Brand's profit by five per cent, but its KFC adusted results have beaten expectations.

NZ commodity prices rise to record

11:53AM NEW Zealand commodity prices have risen 23 per cent over the past year, according to the ANZ Commodity Price Index.

Pfizer breast cancer drug meets goal

11:15AM A TRIAL for a new breast cancer drug being conducted by pharmaceutical giant Pfizer is offering good results.

NZ stocks track Wall St decline

10:55AM THE NZX Index has shed 1.2 per cent in morning trading, following sharp falls on Wall Street in reaction to US manufacturing data.

Gold rises more than 1.6%

7:51AM GOLD has risen 1.6 per cent after a US manufacturing report showed the sector had barely expanded.

Metals close mainly lower on LME

7:43AM COPPER falls 0.4 per cent on supply concerns after data shows China's PMIs have fallen, while aluminium has dropped 1.7 per cent.

Former Fed chief Bernanke joins Brookings

7:09AM FORE Federal Reserve chief Ben Bernanke is joining Washington think tank the Brookings Institute.

Post buying PowerBar, Musashi brands

NESTLE is selling its active nutrition brands PowerBar and Musashi to US company Port Holdings.

Monday, 3 February

Country Road hits record half year profit

3:58PM STRONGER sales and growth in store numbers have helped fashion retailer Country Road make its strongest half year profit on record.

Average wage offered in job ads falls

The website of online job search engine 'Seek'

3:54PM A REVIEW of SEEK's job advertisements in 2013 has found the average wage has dropped.

JB HiFi betting on home appliances

3:38PM RETAILER JB Hi-Fi lifted its first half profit 10 per cent and expects its entry into the home appliances market to help drive growth in the future.

Housing market stronger despite weak patch

A builder constructs a house in Canberra

3:07PM APPROVALS for the construction of new homes fell 2.9 per cent in December, but over the year they were up 21.8 per cent, official figures show.

Monday, 3 February

Inflation was benign in January

File photo of a man checking prices in a supermarket

2:44PM PRICE pressures eased in January after surprisingly high inflation in December.

Job ads fall, but at slower rate

1:58PM THE ANZ's job ads series fell in January, but the pace of decline is slowing and the jobs market is stabilising, ANZ's chief economist Ivan Colhoun says.

Manufacturing contracts despite low $A

A car is manufactured at the Toyota factory in Melbourne

12:30PM AUSTRALIAN manufacturing activity has contracted for the third straight month.

Stocks to watch at noon on Monday

12:21PM STOCKS of interest on the Australian Securities Exchange at noon on Monday

Home prices continue to rise

11:42AM CAPITAL city home values rose 1.2 per cent last month and almost 10 per cent in the past 12 months.

Half of Australians struggling to save

11:25AM JUST over 50 per cent of households are struggling to save money and many have less than $5000 to fall back on in an emergency.

Gold falls as investors digest Fed stance

7:51AM GOLD futures fall 0.2 per cent as investors digest the Federal Reserve's decision to further cut its stimulus measures by another $US10 billion a month.

Copper and aluminium fall, nickel lifts

7:43AM COPPER is down 0.4 per cent, and aluminium drops 1.3 per cent, extending a 4.5-year low, but nickel gains 1.2 per cent.

NZ dollar continues decline

7:29AM A SELL-OFF of riskier assets hits the NZ dollar as it falls to its lowest point against the greenback since September.

Sunday, 2 February

GM's Opel extends no-layoff deal

9:15AM GM says three German plants that will be making a new Opel car have a guarantee of no layoffs until the end of 2018.

Saturday, 1 February

Obama pivot to Asia faces setback

4:39PM A TOP Democratic senator opposes laws that are key for a trans-Pacific trade pact that are part of Barack Obama's effort to step up US engagement in Asia.

Obama asks CEOs for help hiring jobless

3:29PM LONG-TERM joblessness remains a major problem in the US, and the White House is asking corporations to change their hiring practices.

Eurozone sees inflation slowdown

5:15AM YOUTH unemployment has dipped in the Eurozone for the first time since May, but overall unemployment is stuck on 12 per cent and inflation is slowing.