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CommBank part ways with controversial mine

CommBank part ways with controversial mine

The Commonwealth Bank's role as adviser to the controversial Carmichael coal mine in Queensland has ended, dealing another bl…

  • $A backs away from two-week high AAP - 4 hours ago

    The Australian dollar has eased after a rally fuelled by the Reserve Bank's latest comments that pushed it past 74 US cents. The RBA on Tuesday said the Aussie dollar is "adjusting to the significant declines in key commodity prices", a change from its previous comments that it needed to fall further. The currency market was "completely wrongfooted" by the RBA's change of tune, OANDA Australia and Asia Pacific senior trader Stephen Innes said.

  • Bleak day for shares despite mining gains AAP - 5 hours ago

    The share market has fallen as gains by miners were more than outweighed by falls in all other sectors. Buoyed by a jump in the China port iron ore price to $US55 per tonne, BHP Billiton, Rio Tinto and ...

  • Former iron ore boss spruiks uranium AAP - 5 hours ago

    Former BC Iron boss Mike Young is spruiking a new uranium development in Western Australia which he says could become the fifth largest in Australia. Mr Young said Vimy Resources' Mulga Rock development had moved from the seventh to fifth largest uranium deposit in Australia following Energy Resources of Australia's (ERA) recent decision to shelve its Northern Territory projects in a sluggish uranium market. "Before ERA's announcement, Mulga Rock was the seventh largest deposit in Australia and now it's the fifth largest," Mr Young told the Diggers and Dealers mining conference on Wednesday.

  • Mining downturn reflected in loan stress AAP - 5 hours ago

    The end of Australia's mining boom is hitting the country's mortgage insurance industry. Reporting a flat half year underlying profit, Genworth Mortgage Insurance says loan delinquencies increased 8.4 per cent on the corresponding period last year, driven by mining-related unemployment in Western Australia and Queensland. "When you look at those new delinquency developments, it's very much from those mining areas that are pressured in Queensland and Western Australia that we've been monitoring and watching the last year," chief financial officer Georgette Nicholas said.

  • Aust businessman arrested in Indonesia AAP - 5 hours ago
    Aust businessman arrested in Indonesia

    Indonesian police have reportedly arrested an Australian businessman involved in disputes over a coal project and a Bali villa. The Bali Tribune reported on Wednesday that Patrick Alexander was arrested in Jakarta on Saturday. Mr Alexander, a former diplomat, has previously denied any wrongdoing in regard to an allegation of embezzlement over a failed coal project in Sumatra.

  • Bonds weaken after US rate rise comments AAP - 5 hours ago

    The Australian bond market is weaker on the back of expectations that the US Federal Reserve will soon make its first interest rate hike since before the global financial crisis. Federal Reserve Bank of Atlanta president Dennis Lockhart, who is a voting member on the Fed's policy making committee, said it would take a significant deterioration in the economy to convince him not to lift US interest rates in September. IG chief market strategist Chris Weston said the comments were a key focus for markets on Wednesday.

  • Gas boom benefits Skilled AAP - 5 hours ago

    Two major gas projects off the coast of Western Australia have contributed to strong earnings growth for takeover target Skilled Group. The labour hire and workforce services provider has agreed to a $652 million takeover by rival Programmed Maintenance Services, and the change of control is expected to be completed in October. Skilled Group included a $60 million writedown on goodwill in its results for the 2014/15 financial year as part of the takeover deal, which resulted in an annual net loss of $16.7 million.

  • Quickflix shifts focus to China AAP - 5 hours ago

    After its efforts to find an Australian partner fell through, struggling online streaming service Quickflix has turned its sights to China. Quickflix has signed a memorandum of understanding to acquire a Shanghai-based film and TV company in a bid to form a global distributor of Chinese content. The move comes just a day after Quickflix announced its agreement to re-sell content from rival streaming service Presto had fallen through.

 

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      Currencies
      NamePriceChange% Chg
      0.8876+0.0007+0.07%
      NZDAUD=X
      0.6554+0.0009+0.14%
      NZDUSD=X
      0.4191-0.0014-0.33%
      NZDGBP=X
      81.3680-0.0302-0.04%
      NZDJPY=X

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      Most Actives
      NamePriceChange% Chg
      5.06+0.04+0.80%
      CEN.NZ
      0.645-0.005-0.77%
      COA.NZ
      2.96+0.02+0.51%
      SPK.NZ
      0.82+0.01+1.23%
      ATM.NZ
      2.290.000.00%
      MEL.NZ
    • % Gainers
      % Gainers
      NamePriceChange% Chg
      4.85+0.35+7.78%
      IFT150.NZ
      0.53+0.03+7.07%
      SCY.NZ
      4.00+0.25+6.67%
      AIR010.NZ
      4.05+0.20+5.28%
      LIC.NZ
      0.23+0.01+4.55%
      SGL.NZ
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      % Losers
      NamePriceChange% Chg
      1.03-0.09-8.04%
      SDL.NZ
      0.46-0.04-8.00%
      CAV.NZ
      0.28-0.02-6.67%
      MOA.NZ
      1.70-0.07-3.95%
      IQE.NZ
      5.45-0.20-3.54%
      DIL.NZ