$A falls to two week low on rate cut hopes

The Australian dollar slipped to a near two week low due to falling iron ore prices and rising expectations of an April interest rate cut. At 1700 AEDT on Tuesday, the local unit was trading at 76.32 US ...

  • Fairfax Media's real estate revenue soars AAP - 20 minutes ago
    Fairfax Media's real estate revenue soars

    Revenue in Fairfax Media's real estate advertising business Domain continues to soar, confirming its status as the company's primary focus. Domain has been the target of massive spending by Fairfax as it competes with rival realestate.com.au, which is controlled by News Corporation.

  • Toy company's loss widens to $28m AAP - 25 minutes ago

    The distributor of brands including Chupa Chups, Warheads and Cabbage Patch Kids said weaker than expected international sales and excess stock contributed to the loss, which was worse than the previous year's $25.9 million half year deficit. Lower margins in its Australian business due to a weaker currency, and the costs of rationalising its operations were also to blame, Funtastic said. The continued expansion of its Chill Factor range of slushy, ice cream and jelly makers, and cost saving initiatives, are expected to deliver benefits in the second half of the fiscal year.

  • Shares rebound on China stimulus talk AAP - 26 minutes ago

    The Australian share market has rebounded on expectations of monetary easing in China, finishing the session strongly and posting an almost nine per cent gain for the year's first three months. China's central bank chief has said the country has room to act on both quantitative measures and interest rates, while low local interest rates and high dividends are luring investors. CMC Markets analyst Michael McCarthy said the local bourse had finished the quarter almost nine per cent higher after a weak day on Monday. "We're close to recouping all of yesterday's losses," Mr McCarthy said.

  • Strong start for market's new players AAP - 45 minutes ago

    A software developer, diseases screener and mobile marketer have enjoyed strong share market debuts, while investors also welcomed a New Zealand diary giant to Australia. The a2 Milk Company and smaller companies Touchcorp, Genetic Signatures and OtherLevels joined the market on Tuesday, the last day of the March quarter. It was a good day to begin trading, with the market up as much as 1.5 per cent during the session, which explained a lot of the strong performances, IG market strategist Evan Lucas said. Biotech firm Genetic Signatures, a developer of technology that enables hospitals and pathology labs to rapidly screen for infectious diseases, gained 21.3 per cent in market value.

  • Aust bonds firmer on rate cut hopes AAP - 46 minutes ago

    The Australian bond market is stronger, helped by increasing expectations that the cash rate will be cut at the Reserve Bank's April board meeting. The futures market is now pricing in an over 70 per cent chance that the RBA will reduce the interest rate to two per cent next week, up from a 68 per cent chance on Monday and 60 per cent last week. Deutsche Bank fixed income strategist David Plank said there was a decent rally in bonds during the local day on the back of this news. At 1630 AEDT on Tuesday, the June 2015 10-year bond futures contract was trading at 97.680 (implying a yield of 2.320 per cent), up from 97.635 (2.365 per cent) on Monday.

  • Stocks to watch at close on Tuesday AAP - 1 hour 7 minutes ago

    Stocks to watch on the Australian stock exchange at close on Tuesday: AAD - ARDENT LEISURE - up four cents, or 1.8 per cent, at $2.24 Theme park owner Ardent Leisure has no plans to hold an extraordinary ...

  • Aust shares close higher AAP - 1 hour 16 minutes ago

    The Australian share market has closed higher on growing expectations of an interest rate cut in China. At the close on Tuesday, the benchmark S&P/ASX200 index was 45.4 points, or 0.78 per cent, higher ...

  • Tax the rich more, make multinationals pay AAP - 1 hour 25 minutes ago

    Increase the income tax rate for the rich and remove their superannuation tax concessions. More than half (55 per cent) of the 1017 people surveyed believed high earners should have their super tax concession removed while 65 per cent said income tax should be increased for the wealthy. An even greater number, 76 per cent, said multinational companies should be forced to pay a minimum tax rate on their Australian earnings.

  • MYOB poised for May market debut AAP - 1 hour 25 minutes ago

    Accounting software giant MYOB is preparing to raise more than $800 million ahead of its Australian stock market debut in May. Under the much-anticipated move, MYOB will sell 672.5 million shares priced ...

  • Packer sells Perisher to the US AAP - 1 hour 26 minutes ago
    Packer sells Perisher to the US

    James Packer has finally managed to offload his family's stake in Australia's biggest ski resort, with Perisher set to fall into American hands. Vail Resorts, America's largest mountain resort operator, has lodged a bid to buy Perisher from two private companies, James Packer's Murray Publishers and Transfield Corporate. It is the first international purchase for Vail, which operates ski resorts in Colorado, California, Nevada, Utah, Minnesota, Michigan and Wyoming. "Australia is one of the most important international markets for ski resorts across the northern hemisphere, generating an estimated over one million skier visits annually to resorts in North America, Japan and Europe," Vail chairman and chief executive Rob Katz said.

  • Argo creating global building company AAP - 1 hour 41 minutes ago

    Broad-based financing group Argo Investments is creating Australia's first globally focused listed infrastructure company. New York-based investment group Cohen & Steers would advise this new company on where to invest. "Cohen & Steers is one of the world's largest investors in real assets, including global listed infrastructure and real estate," Argo's managing director Jason Beddow said. Argo Investments is expected to issue a prospectus with the Australian Securities and Investments Commission in May outlining the number of shares to be issued, along with the capital raising target and the share price offer.

  • Govt has appetite for reform: Billson AAP - 1 hour 43 minutes ago

    Competition Minister Bruce Billson hopes the Harper report will bring the same benefits as the last similar review 22 years ago. Releasing the report and its 56 recommendations from the review panel led by Professor Ian Harper on Tuesday, Mr Billson said the result of the last review produced a 2.5 per cent increase in GDP. "I'm optimistic that this report maps out a roadmap so we can aspire to those same kinds of goals," Mr Billson told reporters in Melbourne.

  • WA man defrauded US credit card customers AAP - 1 hour 47 minutes ago

    A Perth man faces dozens of charges after allegedly using the credit card details of more than 1000 US-based bank customers in fraudulent transactions. Police seized two credit card writing devices and ...

  • ASIC bans advisor for 18 months AAP - 1 hour 50 minutes ago

    The corporate regulator has banned an employee of the Commonwealth Bank's financial planning division for 18 months for creating false documents for clients' files. It said Rebecca Locksley of Merewether was the servicing planner of banned Commonwealth Financial Planning Ltd (CFPL) advisor Jade Zaicew from 2011 to 2012. Mr Zaicew was suspended in April 2014 from providing financial services for seven years. Australian Securities and Investments Commission (ASIC) said while Mr Zaicew was suspended, Ms Locksley prepared and backdated around 40 documents, including records of advice, to give the impression they had been prepared at the time of the client transactions.

  • MARKET CLOSE: NZ shares rise, led by A2 on ASX deb … BusinessDesk - 1 hour 59 minutes ago

    New Zealand shares rose after A2 Milk Co debuted on the ASX. Warehouse Group, Genesis Energy and Metlifecare declined as the companies gave up rights to dividends.

New Zealand Markets

Company Finances

  • How This Franchisee Runs More Than 275 Restaurants Entrepreneur - Sun, Mar 29, 2015 12:00 AM NZDT
    How This Franchisee Runs More Than 275 Restaurants

    Aslam Khan is still actively involved in running his Church's Chicken, Long John silvers and Hardees locations across the U.S.

  • Analysts shrug off the Diet Coke downturn CNBC - Sat, Mar 28, 2015 9:13 AM NZDT
    Analysts shrug off the Diet Coke downturn

    Diet Coke sales are plummeting, but most analysts aren't too concerned. Here's why.

  • Old Bay seasoning works on crabs...and beer too! CNBC - Sat, Mar 28, 2015 6:06 AM NZDT
    Old Bay seasoning works on crabs...and beer too!

    Maryland's Flying Dog Brewery is bringing back its Dead Rise Old Bay Summer Ale after having trouble keeping it in stock during its debut.

  • 'Anti-Ball Crushing' Pants Are Putting Lululemon on the Menswear Map Entrepreneur - Sat, Mar 28, 2015 6:00 AM NZDT
    'Anti-Ball Crushing' Pants Are Putting Lululemon on the Menswear Map

    The wildly popular item 'gives you and the family jewels room to breathe,' Lululemon says.

  • Game show is lottery, Monopoly combo; Billy Gardell hosts Associated Press - Sat, Mar 28, 2015 4:39 AM NZDT
    Game show is lottery, Monopoly combo; Billy Gardell hosts

    It sounds like a Swiss Army knife version of a TV game show: a combination of a venerable board game, state lotteries, Las Vegas and seasoned comedian Billy Gardell as host. The result is "Monopoly ...

  • Why Denny's Sounds Like a Chill Teenager on Social Media Entrepreneur - Sat, Mar 28, 2015 1:00 AM NZDT
    Why Denny's Sounds Like a Chill Teenager on Social Media

    Find out how this restaurant chain was able to go viral with one of the most unique social-media strategy in the business.

  • Lab beef a reality in 10 years: scientist AAP - Fri, Mar 27, 2015 10:03 PM NZDT
    Lab beef a reality in 10 years: scientist

    Laboratory beef could surpass the real thing within 10 years to solve environmental and animal welfare problems, while remaining just as tasty, a Dutch scientist says. Mark Post, Professor of Physiology at Maastricht University in the Netherlands, 18 months ago oversaw the creation of the first "cultured beef" burger made of stem cells from cow muscle tissue. "They recognise the same problems, probably better than anybody else, and they see there could be alternatives," Professor Post told reporters in Darwin on Friday, where he was a guest speaker at the Northern Territory Cattlemen's Association annual conference. Initially, it will be considered a luxury product, with an appeal to those with environmental and animal welfare concerns.

  • Diet sodas fall in US; Pepsi takes back No. 2 spot Associated Press - Fri, Mar 27, 2015 11:05 AM NZDT
    Diet sodas fall in US; Pepsi takes back No. 2 spot

    Americans bought less soda for the 10th straight year in 2014, with diet sodas shrinking more than their sugary counterparts, according to a report released Thursday. An annual report by the industry tracker ...

  • New Samsung, HTC phones coming April 10 in US Associated Press - Fri, Mar 27, 2015 9:25 AM NZDT
    New Samsung, HTC phones coming April 10 in US

    New phones from Samsung and HTC will be available in U.S. stores starting April 10. Advance orders for the new HTC One begin Friday, and those customers might receive their phones before April 10. Orders ...

  • Bleisure: Korean barbecue, karaoke for biz travelers to NYC Associated Press - Fri, Mar 27, 2015 3:09 AM NZDT
    Bleisure: Korean barbecue, karaoke for biz travelers to NYC

    New York City is a 24/7 kind of place. That makes it easy for business travelers to squeeze a little sightseeing in after a day of meetings. Take in a Broadway show and late dinner, or a nighttime view ...