Latest business and finance news from New Zealand and the world's key markets - Yahoo! New Zealand Finance

Gillard to convene summit on car industry

Fri, 24 May 2013 11:41:11 +0000

Prime Minister Julia Gillard has agreed to a summit on the future of car making, as she resists pressure from unions and Labor MPs to raise tariffs after Ford's decision to stop manufacturing in Australia. ...

M2-F3 linkup in NSW to start in 2014: govt

Fri, 24 May 2013 11:25:25 +0000

Federal Infrastructure Minister Anthony Albanese says he wants to see "shovels in the ground" from next year to guarantee the swift delivery of the M2-F3 road link-up in Sydney's north. Mr Albanese ...

Domestic flights less full in March

Fri, 24 May 2013 11:24:51 +0000

Australia's domestic flights were a little roomier for the travelling public in March, with the growth in passenger numbers failing to match the extra seats added into the market. Figures from the Bureau ...

ASIC appeals Storm class action settlement

Fri, 24 May 2013 10:20:09 +0000

The corporate watchdog has appealed the Federal Court's recent decision to approve an $82 million settlement between former Storm Financial clients and Macquarie Bank Ltd. The Australian Securities and ...

Govts want 'generous' Ford contribution

Fri, 24 May 2013 09:14:15 +0000

Ford is under pressure to cough up significant cash to help employees set to lose their jobs in Geelong and Melbourne retrain for other work. Ford has pledged to contribute to the government fund to help ...

Call for crisis talks on car manufacturing

Fri, 24 May 2013 09:10:17 +0000

Ford Australia says it will contribute to a government package to assist workers who are set to lose their jobs, as unions urged the government to hold crisis talks on the future of local car manufacturing. ...

Vic premier sees light for Geelong

Fri, 24 May 2013 08:35:08 +0000

Victorian Premier Denis Napthine has pledged to work with the Geelong community to create opportunities in new industries in the wake of the mass job loss announcement at Ford. Dr Napthine says the only ...

$A finishes the day higher

Fri, 24 May 2013 07:31:12 +0000

The Australian dollar has finished the day higher, despite falling back from its earlier levels amid uncertainty about the future of the US Federal Reserve's stimulus program. The currency rose as high ...

Aust stocks close lower

Fri, 24 May 2013 07:16:13 +0000

The Australian stock market has tumbled to a five-week low, with $26 billion wiped from the value of the bourse. Friday continued on the sour mood from Thursday, when investors fretted over the prospect ...

Echo sale packed with Crown confidence

Fri, 24 May 2013 06:51:07 +0000

James Packer's exit from Echo Entertainment is a signal the Crown boss no longer sees the rival casino company as a threat to his plan for a luxury Sydney gambling resort. Echo shares plunged 11.9 per ...

Aust bonds weaker

Fri, 24 May 2013 06:42:14 +0000

Australian bond futures prices are lower as traders weigh falls on equity markets against the possibility the US Federal Reserve will begin to wind back its asset-buying program. UBS interest rate strategist ...

Stocks to watch at close on Friday

Fri, 24 May 2013 06:21:23 +0000

Stocks to watch on the Australian stock exchange at close on Friday: AAC - AUSTRALIAN AGRICULTURAL COMPANY LTD - down two cents at $1.08 Australia's largest beef cattle producer has blamed the suspension ...

Aust shares close weaker

Fri, 24 May 2013 06:20:14 +0000

The Australian share market has closed sharply lower, amid broad-based selling, falling below the 5,000 point level. At the close on Friday, the benchmark S&P/ASX200 index was down 78.9 points, or 1.56 ...

Gillard resists call for car tariff rise

Fri, 24 May 2013 05:16:11 +0000

Prime Minister Julia Gillard is resisting pressure from unions and Labor MPs to raise tariffs or significantly boost industry assistance after Ford's decision to stop making cars in Australia. Ford says ...

Sandy damage forces homeowners to sell

Fri, 24 May 2013 04:01:11 +0000

The full consequences of Hurricane Sandy will be played out in a thousand personal decisions, and for American families like the Wosceks, owners of a tiny yellow bungalow on a lagoon, that meant one thing: ...

Gillard seeks Ford help for workers

Fri, 24 May 2013 03:41:09 +0000

Prime Minister Julia Gillard has called on Ford Australia to chip in to an assistance package to help workers and communities affected by the company's 2016 shutdown of car making. Ford announced on Thursday ...

Mexico wants to attract US retirees

Fri, 24 May 2013 03:01:05 +0000

Mexican legislators, seeking to make their country more attractive to US retirees, may soon lift a major impediment for foreigners who want to own a piece of Mexico's Pacific or Caribbean coasts. For the ...

Aust stocks lower at noon

Fri, 24 May 2013 02:34:06 +0000

The Australian stock market is weaker, with all bar the gold sector trading lower on a day of broad-based selling. The big four retail banks are all down more than one per cent, while major miners such ...

$A in retreat after overnight gains

Fri, 24 May 2013 02:22:14 +0000

The Australian dollar is back on a downward spiral, reversing solid gains made overnight, as markets continue to react to recent statements from US Federal Reserve Chairman Ben Bernanke. The currency rose ...

Echo shares plunge after Crown pull-out

Fri, 24 May 2013 02:17:07 +0000

Shares in Echo Entertainment have plunged to a record low after Crown sold its stake in its casino-operating rival. At 1155 AEST, Echo shares were down more than 10 per cent to $3.09, a slight improvement ...

CFMEU in contempt over Vic blockade

Fri, 24 May 2013 02:14:38 +0000

The Construction, Forestry, Mining and Energy Union has been found guilty of contempt of court for its blockade of a Melbourne building site. Victorian Supreme Court Justice Anthony Cavanough found the ...

More people looking to fix mortgage rates

Fri, 24 May 2013 02:12:03 +0000

The number of home owners looking into fixed interest rates has risen since the Reserve Bank of Australia's most recent rate cut, a mortgage broker says. Loan Market corporate spokesperson Paul Smith said ...

Stocks to watch at noon on Friday

Fri, 24 May 2013 02:08:06 +0000

Stocks to watch on the Australian stock exchange at noon on Friday: AAC - AUSTRALIAN AGRICULTURAL COMPANY LTD - down 0.5 cents, or 0.45 per cent, at $1.095 Australia's largest beef cattle producer has ...

CEO pay disclosure laws pose a problem

Fri, 24 May 2013 02:01:05 +0000

Almost every public company in America is breaking the law when it comes to disclosing executive pay. They won't be punished, though, because regulators can't agree on exactly what the law means. Under ...

Group charged for complex mortgage fraud

Fri, 24 May 2013 01:34:17 +0000

The Serious Fraud Office has laid charges against a group allegedly involved in a complex series of mortgage frauds amounting to $9.2 million.