Business News, Economy, Finance & ASX Market News

Creditors vote to liquidate Dick Smith

The administrator's report estimated $101.6 million at best could be recovered from the sale of Dick Smith stock and ...

Dick Smith's unsecured creditors and shareholders are not expected to see any of the money owed to them by the collapsed business, administrator says.

Uber taking a bite out of food delivery market

UberEATS food delivery app launched in Sydney on Tuesday.

Esther Han
57m ago

Uber has entered Sydney's booming food delivery market, and restaurants that have long resisted on-demand delivery apps are signing up.

Andrew Robb is on the move

Carolyn Cummins

Andrew Robb must be relieved to relearn that it is far quicker getting work in the private sector than securing a trade deal.

Kisses, propositions and retaliation

Several former Fox News employees said that people were afraid to speak up.

IN DEPTH
Jim Rutenberg and Emily Steel

Claims of sexual harassment and intimidation from current and former employees suggest Roger Ailes’s exit may not be the end of the network’s woes.

Nintendo shares dive

Nintendo shares ended down 17.7 per cent.

Nintendo suffered its biggest decline since October 1990 as shares tumbled as much as 18 per cent on Monday.

Welcome to the age of fear

Donald Trump's biggest and most dangerous lie is convincing a large proportion of the population that America is not ...

COMMENT
Michael Pascoe

What is the driving force that has thrusted Donald Trump and Pauline Hanson into the limelight? Fear.

Ericsson ousts CEO, shares soar

Hans Vestberg had come under fire in recent months.

Swedish mobile telecoms gear maker Ericsson ousted Hans Vestberg as chief executive on Monday, a move led by major shareholders after months of ...

Australian dollar's fate at 'crossroads'

Analysts are divided about the direction of the Australian dollar.

Vanessa Desloires

Analysts are predicting that interest rate differentials and commodities will start to weigh on the $A.

Market Indices

Updated: July 25, 2016 - 4:39PM

Updated: July 25, 2016 - 6:10PM

Updated: July 26, 2016 - 12:59AM

United States Dollar

Price

0.7461

Percentage up/down

-0.03% fall
Euro

Price

0.6796

Percentage up/down

-0.09% fall
British Pound

Price

0.5696

Percentage up/down

0.19% rise

Updated: July 26, 2016 - 12:45AM

Blue chip Woolworths' best day in almost 20 years lifted the index on Monday.

Woolies lifts ASX to fresh 2016 high

Vanessa Desloires

Sale signs proliferate in shopping centres

Retail war raises spectre of deflation

Wayne Cole and Swati Pandey

Former trade minister Andrew Robb is looking forward to bringing his political and business experience to his new role ...

Andrew Robb to represent Rinehart at Ten

Lucy Battersby

Woolworths' 2016 financial result was already going to be a horror one.

Lowy family success in the Big Apple

Billionaire shoppie Frank Lowy may have a cache of accolades but his grandson has managed to garner an award of considerable note.

Pizza wars gun down fast food chain

Over the past five years, pizza wars and fast food wars have escalated.

COMMENT

The fast food industry can be brutal. When tied around a franchise system, it can be worse.

Not everything is as it seems...

COMMENT

Economic growth is robust and the jobless rate is falling. But price pressures are abating. How can that be?

Nintendo shares dive

Nintendo suffered its biggest decline since ...

Markets Live: Woolies jumps most in 20yrs

Woolies lifts ASX to fresh 2016 high

Sliding oil price seen as buying opportunity

Australia Q2 inflation to make or break case for rate cut

Australian dollar's fate at 'crossroads'

need2know: Flat start in store

Nintendo: The house that Mario Built

BULLS AND BEARS

This weekend's release of PokémonGo in Japan ...

Fears of a Brexit fallout for the global economy weigh on the G20 meeting in Chengdu.

G20 will use "all policy tools" to protect growth as Brexit looms

Leaders from the world's biggest economies ...

All eyes are on next week's second quarter inflation report, which could provide the trigger for a cut to 1.5 per cent ...

Investors watching inflation, central banks

All eyes will be on this week's inflation ...

Chinese finance minister Lou Jiwei has called on the G20 to play a leading role in supporting a new international tax system.

G20 calls for tax policy overhaul

Group of 20 finance ministers say taxation ...

Stacey Barr knows that performance measurement is about the process.

High heels 'cost UK businesses $453m a year'

A smile, a name and a confident handshake can sometimes go a long way.

17 icebreakers for awkward networking events

Woolworths to axe 500 jobs

Woolworths will be cutting 500 jobs and closing down 17 stores, after losing a fortune in the past six months.

Q2 CPI to cement a rate cut?

The outcome of the CPI print should dictate the markets view around an August rate cut. (SPONSORED)

Pokemon craze grips the world

Players are trying to catch 'em all... with reports of arrests, collisions and gamers playing at the most inappropriate times.

Welcome to the age of fear

COMMENT

What is the driving force that has thrusted Donald Trump and Pauline Hanson into the limelight? Fear.

Retail war raises spectre of deflation

Sale signs are almost permanent fixtures in shop fronts in Sydney, but customers are still wary of spending

Sydney construction is powering the state's economy.

Nation's south-east corner powers the economy

The country's south eastern states are continuing to power the national economy as it 'rebalances' away from the mining states of Queensland and Western Australia after the end of the 'once in a century' mining boom.

The real problem with Australia's migrants

We pick the cream of the crop but Australia still has some way to go to make the most of its migrant community.

Not everything is as it seems...

COMMENT

Economic growth is quite robust and the jobless rate is falling. But price pressures are abating. How can that be?

Unemployment's age-old problem

Older unemployed people are, on average, out of work a lot longer.

ANALYSIS

If there's one thing worse than being unemployed, it's being unemployed and old.

Creditors vote to liquidate Dick Smith

SYDNEY, AUSTRALIA - FEBRUARY 25: A woman walks past the Dick Smith store in Bondi Junction at the Westfield Centre as ...

Dick Smith's unsecured creditors and shareholders are not expected to see any of the money owed to them by the collapsed business, administrator says.

Woolies to close stores, cut 500 jobs

21 Woolworths stores in Australia will close.

Georgia Wilkins

Woolworths will slash 500 jobs and close 27 underperforming stores in a restructure that will cost the company almost $1 billion.

Woolworths' day of reckoning

COMMENT
Adele Ferguson

Behind the write-downs, job losses and store closures at Woolworths, a bigger transformation is at play to reset the juggernaut for 2017.

NAB chief executive Andrew Thorburn sees positive signs in business credit growth.

NAB eyes the 'heartland' with shakeup

National Australia Bank is vowing to sharpen its focus on domestic businesses and consumers.

Bank sold debt after woman failed to pay for account she didn't want

Patricia Howard was caught between a rock and a hard place

Patricia Howard's first hint that something was wrong came when one of her credit cards was cancelled. Then the debt collectors started calling her.

NAB is merging five super funds to create the biggest retail super fund in the country.

Heads roll in NAB restructure

Three of NAB's most senior executives will leave the bank as it aims to become more 'customer-focussed'.

Accounting for Dick Smith failures

business pic greg newington afr syd 981229 ... generic money businessmen. big business etc. ****afr use only do not ...

COMMENT

As the receivers, administrators and ASIC work through the wreckage of Dick Smith's collapse, the accounting profession has questions to confront.

Bank dividends 'simply unsustainable'

The big banks' dividends are in the spotlight, again.

The most obvious response to likely increases in capital requirements would be to cut shareholder payouts, Perpetual portfolio manager Anthony Aboud says.

Bank satisfaction slides to three-year low

Customer satisfaction with the big four banks peaked in May last year but is now dwindling, Roy Morgan says.

Few customers are happy with their bank, despite very low interest rates.

Uber's taking a big bite out of Sydney's food delivery market

Esther Han
57m ago

Retail war raises spectre of deflation

Wayne Cole and Swati Pandey

At The Meat Store in Bondi Junction, beef is the most popular choice among customers, chicken is the least.

A nation divided on our favourite meat

Lucy Cormack

Gold shines for BHP

South Australia's Olympic Dam has helped BHP to its highest gold haul in 14 years.

Iron ore, copper and petroleum may dominate the headlines, but BHP's output of gold has quietly hit a 14 year high.

BHP bids for coal assets as prices recover

BHP Billiton is looking at buying some Queensland coalmines as the market ticks higher.

Against the backdrop of firming coal prices as China's moves to force through domestic coal production cuts, BHP Billiton via its joint venture with Mitsubishi Corp, is among bidders for Anglo American's Australian coking coal assets, which could cost as much as $US1.5 billion.

Brent for September settlement dropped 1.1 per cent to $US45.69 a barrel on the London-based ICE Futures Europe ...

Oil falls to lowest in two months

Oil dropped as the US heads toward the end of the peak summer-driving season.

Ericsson ousts CEO, shares soar

Swedish mobile telecoms gear maker Ericsson ousted Hans Vestberg as chief executive on Monday, a move led by major shareholders after months of criticism of Vestberg's leadership and pay.