Lab beef a reality in 10 years: scientist

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, p…

  • Chevron selling $5b stake in Caltex AAP - 13 hours ago
    Chevron selling $5b stake in Caltex

    US energy giant Chevron is looking to sell its $5 billion stake in Caltex Australia but says the decision won't affect its Gorgon and Wheatstone gas interests. Chevron expects shares in oil refiner and distributor Caltex will be sold to a range of Australian and global institutional investors. Executive vice president of downstream and chemicals Michael Wirth said Chevron's sale comes as part of a regular review of its portfolio and commitment to generate cash to support its long term priorities. The massive sale, reportedly at a slight discount to its market value, does not alter Chevron's focus on moving Western Australia's $US54 billion Gorgon project and the $30 billion Wheatstone liquefied natural gas (LNG) projects towards start-up, president of international products, downstream and chemicals Mark Nelson said.

  • Chevron selling 50% stake in Caltex AAP - 13 hours ago
    Chevron selling 50% stake in Caltex

    US energy giant Chevron is looking to sell its 50 per cent stake in Caltex Australia. Chevron expects shares in the oil refiner and distributor will be sold to a range of Australian and global equity market ...

  • $A falls as market gets nervous AAP - 14 hours ago

    The Australian dollar briefly fell below 78 US cents for the first time since the beginning of the week on falling iron prices and rising global political tensions. Easy Forex currency dealer Andreas Tjahja said traders were moving into safe haven currencies like the US dollar, which is putting downward pressure on the Australian dollar. At 1700 AEDT, the Australian dollar was at 92.97 Japanese yen, up from Thursday's close of 92.96 yen, and at 71.68 euro cents, up from 71.21 euro cents.

  • Aust bonds weaken after flat few days AAP - 14 hours ago

    The Australian bond market is weaker, as demand for the safe haven assets disappears following a flat performance in recent days. Commonwealth Bank head of debt research Adam Donaldson said the Australian ...

  • Bargain hunters drive share market rebound AAP - 14 hours ago

    The share market has clawed back some of the ground lost in Thursday's heavy fall as bargain hunters moved in. The market's final session of the week delivered a gain of almost 0.7 per cent, a surprising ...

  • EnergyAustralia fined for sales tactics AAP - 14 hours ago
    EnergyAustralia fined for sales tactics

    EnergyAustralia has been fined $1 million for the second time in a year over its aggressive salespeople. The Federal Court handed out a penalty of $1 million to the energy retailer for illegal false and misleading conduct carried out by phone salespeople. EnergyAustralia's telemarketers Bright Choice Australia illegally signed up consumers they phoned to contracts, after obtaining their details and offering to post information to them, the court found. EnergyAustralia was fined $1.2 million last April over the conduct of door-to-door salespeople.

  • Skydive company has sky high ASX debut AAP - 15 hours ago

    Skydive the Beach's founder believes social media is making the young and the very old want to jump out of a plane. Chief executive Anthony Boucaut has seen his tandem skydiving company reach for the sky with a spectacular share market debut, which saw its value surge by $10 million within the first 10 minutes of listing on Friday. "Everybody wants their experience recorded on social media, shown to their friends," Mr Boucaut told AAP. Mr Boucaut was inspired to start up a skydiving company during a holiday with his future partner Tamahra Prowse in Mexico, in 1997.

  • Stocks to watch at close on Friday AAP - 15 hours ago

    Stocks to watch on the Australian stock exchange at close on Friday: CBA - COMMONWEALTH BANK OF AUSTRALIA - up 50 cents, or 0.5 per cent, at $94.34 A second Commonwealth Bank IT executive has been charged ...

  • Aust shares close higher AAP - 15 hours ago

    The Australian share market has closed higher, reflecting similar rebounds across Asian markets. At the close on Friday, the benchmark S&P/ASX200 index was 40.8 points, or 0.69 per cent, higher at 5,919.9, ...

  • MARKET CLOSE: NZ shares rise as Fonterra Fund rebounds … BusinessDesk - 16 hours ago

    New Zealand shares rose, paced by Fonterra Shareholders' Fund as the stock rebounded from a record low. Outside the benchmark index, Hallenstein Glassons advanced after reporting a 40 percent jump in first-half profit. Within the benchmark index, 22 stocks rose, 19 fell and nine were unchanged. Units of FSF, which give holders access to Fonterra Cooperative Group's dividend stream, rose 1.1 percent to $5.56, rebounding from yesterday's record low close.

  • NZ dollar gains vs. Australian dollar on iron ore weakness; … BusinessDesk - 16 hours ago

    The New Zealand dollar gained against its Australian counterpart on sliding prices for iron ore exported to China, that nation's biggest market, while traders await a speech by US Federal Reserve chair Janet Yellen on Friday in the US. Iron ore sank to a record low US$54.20 a tonne this week and has more than halved in the past 12 months amid a supply glut, according to Reuters, which reported today that capacity utilisation rates at small Chinese iron ore mines fell as low as 20 percent at the end of last year. Concern about weak iron ore prices weighed on the Australian dollar and also restrained the kiwi against the greenback, traders said. The drop in iron ore "is weighing on the Aussie, given that it's a key export," said Michael Johnston, senior trader at HiFX.

  • Failed Feltex case costs litigation funders $3.1M in … BusinessDesk - 16 hours ago

    Former directors of Feltex Carpets and promoters of its 2004 initial public offering have been awarded a scaled-up $3.1 million in costs after being found not liable for alleged disclosure failings in its prospectus. Once disbursements are included, total costs could rise to $5 million, before costs associated with the actual costs of the hearing. In a judgement last September in the High Court at Wellington, Justice Robert Dobson found in favour of the defendants on all of numerous causes of action. Feltex investor Eric Houghton had sued the former Feltex directors, owners and sale managers in a representative action seeking $185 million including interest for shareholders his suit said had been misled by the 2004 prospectus.

  • Economic slump presents chance for reform AAP - 17 hours ago

    One of the first economists to predict February's rate cut says the Reserve Bank should now put the razor away to avoid bursting what has already become a housing bubble. Steen Jakobsen, chief economist at Denmark's Saxo Bank, says the Australian economy has hit rock bottom and has a 50/50 chance of falling into recession this year. We've got a housing bubble on our hands, and our economy and political system are a mess, he says. Although the data suggest the economy is in freefall, things are starting to turn around, as February's rate cut and the lower exchange rate begin to take effect, he said.

  • Turkey wants trade opportunities with NZ Newstalk ZB - 17 hours ago

    New Zealand businesses are being encouraged to look at opportunities in Turkey.

  • State gov't decisions risk investors: Robb AAP - 17 hours ago

    Decisions by state governments to scrap major projects and oppose foreign investment are putting jobs and wealth at risk, Trade Minister Andrew Robb says. Mr Robb, who is in Hong Kong with a business delegation, says some investors are now building in a "risk premium" because big infrastructure projects such as Melbourne's East West Link are being shelved. "We've got to think of our dependence for the last 200 years on foreign investment to help us maintain and grow our industries," Mr Robb told Sky News on Friday. Mr Robb said Chinese business leaders and officials are also bemused about the "xenophobia" of NSW Labor's election campaign attack on the potential for the electricity industry to be leased by Chinese interests.

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