International markets roundup

Wall Street stocks have dipped, following leading euro zone equity markets lower on worries about a potential Greek exit from the currency bloc. Frankfurt's DAX 30 index fell 0.79 per cent and the CAC 40 in Paris lost 0.86 per cent as the tense standoff between heavily indebted Greece and its creditors hung over a meeting of finance ministers from the Group of Seven leading industrialised nations…

  • $A slide tipped to intensify AAP - 28 minutes ago

    The release of weaker than expected Australian business investment data has pushed the local currency to a six week low. At 0700 AEST on Friday, the Australian dollar was trading at 76.49 US cents, down ...

  • Stocks to watch on Friday AAP - 38 minutes ago

    Stocks of interest on the Australian Securities Exchange on Friday: AGL - AGL Energy - up two cents, or 0.1 per cent, at $16.13 The power company is in talks to sell its $500 million stake in Australia's ...

  • $A weaker on soft local investment data AAP - 47 minutes ago

    The Australian dollar hit a six week low as weaker-than-expected Australian business investment figures continue to weigh on the local currency. At 0630 AEST on Friday, the local unit was trading at 76.49 ...

  • Australian market set for a flat open AAP - 50 minutes ago

    The Australian market is set for a fairly flat open, after US and European markets lost ground on worries about a potential Greek exit from the euro zone. Locally on Friday, HIA releases its new home sales and the Reserve Bank releases private sector credit data.

  • NZ dollar drops to four-year low on concern low Fonterra … BusinessDesk - 1 hour 15 minutes ago

    The New Zealand dollar dropped to its lowest in more than four years on concern about the outlook for the economy after Fonterra Cooperative Group yesterday announced a low payout to dairy farmers. Fonterra yesterday cut its forecast payout to farmers for this season by 10 cents to $4.40 per kilogram of milk solids, from a record $8.40/kgMS last season, and said it expects to pay $5.25/kgMS next season as prices for dairy products stay lower for longer than expected. Dairy products are New Zealand's largest commodity export and the weaker payout is expected to dent economic growth this year.

  • Auckland tops economic growth report Newstalk ZB - 2 hours 48 minutes ago

    Auckland has leap-frogged Canterbury into the top spot for economic growth in a fresh report from the ASB.

  • 100,000 Co-Op customers to receive rebate Newstalk ZB - 2 hours 53 minutes ago

    The Co-operative Bank's profit has increased 24 percent to $8.9 million in its third year operation as a registered bank.

  • While you were sleeping: US rates, Greece in focus BusinessDesk - 3 hours ago

    Equities on both sides of the Atlantic moved lower as investors tried to gauge the timing of a US Federal Reserve interest rate increase, and the potential for a deal between Greece and its international creditors to stave off financial collapse. In late trading in New York, the Dow Jones Industrial Average slid 0.38 percent, the Standard & Poor's 500 Index fell 0.35 percent, while the Nasdaq Composite Index declined 0.32 percent. The Dow moved lower with slides in shares of Caterpillar and those of Boeing, down 2.3 percent and 0.6 percent respectively.

  • Penfolds to unveil winery upgrade AAP - 4 hours ago

    Wine producer Penfolds is set to unveil its redeveloped Adelaide headquarters. The company that produces the famous Grange wine has spent millions of dollars to upgrade its Magill Estate winery, one of ...

  • Indigenous group takes mine fight global AAP - 7 hours ago

    An indigenous group determined to stop an Indian coal giant building a $16.5 billion mine on their lands is taking their fight global. Adani's Carmichael mine, expected to export at least 50 million tonnes of coal a year, is slated for Queensland's Galilee Basin on traditional lands of the Wangan and Jagalingou (W&J) people. W&J spokesmen Adrian Burragubba and Murrawah Johnson will on Sunday embark on a three-week global tour to urge major investment banks in New York, Washington, London and Zurich to immediately rule out funding the mine.

  • Slower China growth desirable: Bernanke AAP - 9 hours ago
    Slower China growth desirable: Bernanke

    Slowing growth in China is inevitable and desirable, former US Federal Reserve chairman Ben Bernanke says. Dr Bernanke told the World Business Forum in Sydney geopolitical shocks remained the biggest risk to the global financial system, which was in better shape than before the 2008 crisis. "China can no longer grow based on its traditional model of exports, heavy industry and construction," he said.

  • Former Ten boss to lead Southern Cross AAP - 10 hours ago
    Former Ten boss to lead Southern Cross

    Radio and regional TV owner Southern Cross Media had one eye on a potential shakeup of industry ownership laws when selecting former Network Ten boss Gran Blackley as its new chief executive. Mr Blackley will join the owner of the Triple M network and Sydney's 2Day FM on June 29, returning to the media landscape five years after his sacking from Ten. Five years in the top job at Ten ended amid falling earnings and the appointment of James Packer, Lachlan Murdoch and Gina Rinehart to the network's board.

  • News Corp axes commuter papers mX AAP - 12 hours ago
    News Corp axes commuter papers mX

    Rupert Murdoch's News Corp is axing its free newspaper for commuters, mX, as more readers choose to get their news from mobile devices. "The decision is a reflection of the changing reading habits of commuters who now turn to their mobile phones and tablets on their way to and from work," News Corp Australia said in a statement on Thursday. News Corp Australia said it would continue to invest in its suite of print and digital products.

  • Ratings agencies concerned by Tas budget AAP - 12 hours ago

    Ratings agencies have noted Tasmania's strengthening economy as the state government handed down its $5.4 billion 2015/16 budget, forecasting a return to surplus three years sooner than previously expected. Treasurer Peter Gutwein on Thursday revealed Tasmania's fiscal outlook, which forecasts a $59 million deficit for the coming financial year, followed by a three-year cumulative surplus of $310 million. Moody's Investors Service describes as robust the state's revenue growth - which comes largely from increased GST payments - that "is projected to spur significant improvements in its financial performance both this fiscal year and over the medium term".

  • Capex fall revives rate cut hopes AAP - 12 hours ago
    Capex fall revives rate cut hopes

    The chances of another interest rate cut have been given a boost, with new data showing business investment slumped in the first three months of the year. Business investment fell by 4.4 per cent in the March quarter, worse than economists' forecasts of a 2.4 per cent fall, official figures released on Thursday showed. The Australian Bureau of Statistics figures, which cover investment in capital goods like buildings and equipment, also showed a decline in the outlook for future investment.

New Zealand Markets

Company Finances

  • Google's 'Chucky' teddy bear to control the home CNBC - Tue, May 26, 2015 10:58 PM NZST
    Google's 'Chucky' teddy bear to control the home

    Google's boffins have floated the idea of making internet-connected teddy bears that will have the ability to control gadgets and devices in the home.

  • How One Apparel Brand Is Bringing Style to Sustainable Clothing Entrepreneur - Tue, May 26, 2015 10:00 PM NZST
    How One Apparel Brand Is Bringing Style to Sustainable Clothing

    Nothing hip and sexy about sustainable and recycled fabrics? Guess again.

  • Why This Fantasy Sports Company Is a Dream Come True for Fans Entrepreneur - Tue, May 26, 2015 10:00 PM NZST
    Why This Fantasy Sports Company Is a Dream Come True for Fans

    Bigger, stronger, faster: FanDuel is fantasy sports on steroids.

  • Samsung Galaxy S6 Edge gets a superhero makeover CNBC - Tue, May 26, 2015 6:18 PM NZST
    Samsung Galaxy S6 Edge gets a superhero makeover

    Samsung Electronics launched a limited Iron Man edition of its Galaxy S6 Edge on Tuesday, in the company's latest push to promote its curved screen smartphone.

  • Corporate maneuver at Samsung strengthens heir's influence Associated Press - Tue, May 26, 2015 4:36 PM NZST
    Corporate maneuver at Samsung strengthens heir's influence

    Two key Samsung companies are merging in a step toward ensuring the son of the group's ailing chairman inherits control of the theme parks to smartphones conglomerate. Samsung said Tuesday that its defacto ...

  • Latest in food-track tech: Swipe a code, meet your fisherman Associated Press - Tue, May 26, 2015 7:01 AM NZST
    Latest in food-track tech: Swipe a code, meet your fisherman

    After eyeing a piece of haddock on the supermarket counter, a customer scans a code and finds out the fish was caught in the waters of Georges Bank and learns the name of the fishing boat — and maybe even ...

  • Automakers to reveal models covered by wider air bag recall Associated Press - Sun, May 24, 2015 1:01 AM NZST
    Automakers to reveal models covered by wider air bag recall

    Eleven automakers are expected next week to reveal which models are being added to a massive recall of air bags made by Takata Corp. On Tuesday, the U.S. National Highway Traffic Safety Administration ...

  • Wal-Mart's push on animal welfare hailed as game changer Associated Press - Sat, May 23, 2015 5:17 AM NZST
    Wal-Mart's push on animal welfare hailed as game changer

    Wal-Mart's push to get its suppliers to give farm animals fewer antibiotics and more room to roam is expected to have a big impact on the food industry, experts say. Though the steps are voluntary, Wal-Mart, ...

  • Chef Sentenced to Three Years in Jail for Spitting in Customer's Food Entrepreneur - Sat, May 23, 2015 2:32 AM NZST
    Chef Sentenced to Three Years in Jail for Spitting in Customer's Food

    The New Jersey cook spat on an overly demanding customer's roll.

  • McDonald's CEO 'proud' of pay hike AAP - Fri, May 22, 2015 11:05 AM NZST
    McDonald's CEO 'proud' of pay hike

    McDonald's CEO Steve Easterbrook says he's "incredibly proud" of a recent decision to bump pay for some workers, even as hundreds of protesters outside called on the company to do more ahead of its annual shareholder meeting. Easterbrook, who stepped into his role in March, is fighting to revive sluggish sales and convince people that McDonald's is a "modern, progressive burger company". Easterbrook said at the meeting in Oak Brook, Illinois, that he was proud of the decision announced last month to raise pay for workers at company-owned stores to $1 above the local minimum wage, as well as offer help with college tuition to workers at all stores.