Wage rise for nation's lowest-paid workers

Australia's lowest-paid workers will get a $16 a week wage rise from Wednesday. The rise will take the minimum wage to $656.90 a week - or $17.29 an hour. Australian Industry Group chief Innes Willox says while it will be welcomed by workers, it's an unwelcome burden for many struggling businesses.

  • Housing data likely overshadowed by Greece AAP - 2 hours 8 minutes ago

    New figures will show how Australia's housing boom is playing out and whether soaring prices continue to encourage new home building. The latest building approvals report for May will probably be overshadowed ...

  • Aust exposure to Greek crisis 'minuscule' AAP - 5 hours ago
    Aust exposure to Greek crisis 'minuscule'

    Australia's exposure to the Greek debt crisis and a potential default by Athens is "minuscule", says Reserve Bank governor Glenn Stevens. The Greek government is due to repay a 1.5 billion euro ($A2.20 billion) loan to the IMF on Tuesday but unexpectedly stalled proceedings at the weekend by announcing it would take any further austerity plans to a popular vote on Saturday. "I don't have any gratuitous advice for the ECB (European Central Bank) or euro ministers, or for the Greek government," Mr Stevens told a London financial industry event on Tuesday when asked if the RBA had been making contingency plans.

  • Emerging nations eager for lift-off: RBA AAP - 6 hours ago

    Reserve Bank governor Glenn Stevens says many emerging countries are ready for the United States to start raising interest rates and would like "lift-off" to happen sooner rather than later. It's expected the US Federal Reserve will later this year begin raising interest rates for the first time in almost a decade. Mr Stevens, speaking at the Official Monetary and Financial Institutions Forum in London on Tuesday, said he was reluctant to give gratuitous advice to emerging markets.

  • Greece teeters on brink of default AAP - 8 hours ago
    Greece teeters on brink of default

    Prime Minister Alexis Tsipras has urged Greeks to reject creditors' tough reform demands in a referendum on Sunday, but has also pleaded for a bailout extension to keep Athens afloat. Failure to pay would see Greece become the first country to default on the International Monetary Fund since Zimbabwe in 2001, and in terms of standards of living, it would be the wealthiest. "(How) is it possible the creditors are waiting for the IMF payment while our banks are being suffocated?" he said in a late-evening interview on ERT television.

  • Aust dollar rises in cautious trade AAP - 12 hours ago

    The Australian dollar has edged higher as traders practice extreme caution amid Greece's looming debt default and possible exit from the euro. It fell against the euro though, trading at 68.72 euro cents at 1700 AEST, down from 69.04 euro cents on Monday, and was buying 93.90 Japanese yen, down from 94.08. NAB global co-head of FX strategy Ray Attrill said participation in the currency market was down as traders wait for news on Greece, and this weekend's referendum on the most recent round of bailout proposals.

  • ASX manages only modest gains for 2014/15 AAP - 12 hours ago

    The last week of the financial year was mostly a horror show for Australian investors. While the stock market managed to finish 2014/15 on a positive note on Tuesday, it posted a pretty flat result for the year.

  • Take plastic if heading to Greece: Bishop AAP - 12 hours ago

    Foreign Minister Julie Bishop has offered some sound advice to any Australians travelling to Greece - take the plastic. As the hours tick down to an increasingly likely debt default by Greece, Ms Bishop warned visiting Australians to take alternative forms of money. "(Take) credit cards, debit cards, cash because there could be some circumstances where money and payment systems run short or are going to be under a great deal of pressure," she told reporters while visiting Auckland, New Zealand on Tuesday.

  • Aust stocks close on positive note AAP - 12 hours ago

    The Australian share market has ended the last day of the financial year on a positive note as investors prepare themselves for the year ahead. IG market strategist Evan Lucas said the modest rise in daily trading on Tuesday was nothing to get excited about as investors closed out positions. Mr Lucas said investors were still cautious, awaiting further developments in the Greek debt saga.

  • NZ investor may exit Slater and Gordon AAP - 12 hours ago

    A leading New Zealand asset manager is reviewing its stake in Slater and Gordon amid growing concerns about the law firm's UK business and regulatory reviews. Milford Asset Management said it was reviewing its investments in the law firm in light of the revelations. "We have a portfolio of over 100 stocks and some are more high risk than others," executive director Brian Gaynor said on Tuesday.

  • Kathmandu shares soar on takeover bid AAP - 12 hours ago

    Struggling outdoor clothing and equipment retailer Kathmandu has caught the eye of a New Zealand homewares and sports retailer seeking a takeover. Shares in Kathmandu jumped more than 25 per cent on Tuesday, but the company is yet to indicate if it is interested in selling. Briscoe, the parent company of Rebel Sport in New Zealand and owner of two homewares chains, has paid a premium to lift its stake in Kathmandu from 4.9 per cent to 19.9 per cent, and says a takeover offer is imminent.

  • Bonds weaker as focus remains on Greece AAP - 12 hours ago

    Australian bond prices are weaker despite a move to safer investments as Greece edges closer to a debt default and possible exit from the euro zone. Global attention remains on Greece's debt emergency, ...

  • RESEND: MARKET CLOSE: NZ shares rise; Kathmandu soars … BusinessDesk - 12 hours ago

    New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. Turnover was $198 million, with $58 million of that made up of Kathmandu shares.

  • Stocks to watch at close on Tuesday AAP - 13 hours ago

    Stocks to watch on the Australian stock exchange at close on Tuesday: KMD - KATHMANDU - up 32 cents, or 25.6 per cent, at $1.57 New Zealand retailer Briscoe Group wants to take over Kathmandu but it's ...

  • Aust shares close higher AAP - 13 hours ago

    The Australian share market has closed higher, finishing the financial year on a positive note in defiance of the Greek debt crisis. At the close on Tuesday, the benchmark S&P/ASX200 index was 36.5 points, or 0.67 per cent, higher at 5,459.0, while the broader All Ordinaries index was up 34.6 points, or 0.64 per cent, at 5,451.2, according to preliminary figures.

  • MARKET CLOSE: NZ shares rise; Kathmandu soars on Briscoe … BusinessDesk - 13 hours ago

    New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. Turnover was $198 million, with $58 million of that made up of Kathmandu shares.

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Company Finances

  • To Improve Productivity Tell Your Team to Go Take a Hike Entrepreneur - Sat, Jun 27, 2015 1:15 AM NZST
    To Improve Productivity Tell Your Team to Go Take a Hike

    Giving employees exercise breaks benefits their wellbeing and your bottom line.

  • Group gets green light for Vic wind farm AAP - Fri, Jun 26, 2015 2:05 PM NZST
    Group gets green light for Vic wind farm

    A deal has been struck to construct a $450 million wind farm in Victoria, just days after the renewable energy target finally passed parliament. A consortium of five companies, including America's GE and Australian contractor Downer EDI, has agreed to finance and build the 75-turbine Ararat wind farm in southwest Victoria. Project leader Renewable Energy Systems says the wind farm will be the country's third largest when construction is completed in 2017.

  • California court says 'sweepstakes' games are illegal Associated Press - Fri, Jun 26, 2015 11:15 AM NZST
    California court says 'sweepstakes' games are illegal

    Computerized "sweepstakes" games offered at special Internet cafes are the equivalent of slot machines that are illegal under state law, the California Supreme Court ruled Thursday. The court ...

  • McDonald's: Fewer Happy Meal orders opting for soda Associated Press - Fri, Jun 26, 2015 3:09 AM NZST
    McDonald's: Fewer Happy Meal orders opting for soda

    McDonald's says fewer people are picking soda for Happy Meals after it stopped listing the drinks as an option on its menu boards. The world's biggest hamburger chain said Thursday 48 percent of Happy ...

  • Takata CEO: Air bag defect still under investigation Associated Press - Thu, Jun 25, 2015 10:46 PM NZST
    Takata CEO: Air bag defect still under investigation

    The CEO of Takata Corp., the Japanese air bag maker at the center of a defect scandal that has resulted in recalls of more than 33.8 million vehicles, appeared at a news conference Thursday for the first ...

  • How This Light Bulb Makes It Easier for You to Stream Music Entrepreneur - Thu, Jun 25, 2015 4:05 AM NZST
    How This Light Bulb Makes It Easier for You to Stream Music

    Astro, a New York City home automation startup, just put a bright, new musical Twist on 'smart' bulb tech.

  • Whole Foods overcharging for prepackaged goods: NYC CNBC - Thu, Jun 25, 2015 3:08 AM NZST
    Whole Foods overcharging for prepackaged goods: NYC

    A New York City government agency said an ongoing investigation of Whole Foods stores has found systemic overcharging of its customers for prepackaged food.

  • 2015 Kia Sedona provides first-class lounge seats, more room Associated Press - Thu, Jun 25, 2015 2:33 AM NZST
    2015 Kia Sedona provides first-class lounge seats, more room

    Kia's new, first-class lounge seats might just be the way to make a minivan more appealing. Offered on the redesigned 2015 Sedona minivan, the comfortable, Nappa leather-swathed seats have pop-out foot ...

  • Ford Motor recalls vans, SUVs over panel, seat belt issues Associated Press - Thu, Jun 25, 2015 1:22 AM NZST
    Ford Motor recalls vans, SUVs over panel, seat belt issues

    Ford Motor Co. is recalling more than 200,000 Transit Connect vans and Escape sport-utility vehicles because of instrument panel and seatbelt issues. There are have been no injuries or accidents attributed ...

  • Ford jumps into car-share business CNBC - Wed, Jun 24, 2015 3:00 PM NZST
    Ford jumps into car-share business

    In a sign automakers are increasingly aware they'll have to try new approaches to reach customers, Ford is launching a car-share program.