Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE: The Australian dollar has crept lower despite a weaker greenback and a spike in most commodities. At 0630 AEST on Tuesday, the currency was trading at 71.17 US cents, down from 71.42 ...

  • Government plays down economic woes AAP - 23 minutes ago
    Government plays down economic woes

    The federal government is playing down speculation Australia's economy could be set to shrink. Assistant Treasurer Josh Frydenberg has pointed to the ASX 200 companies, of which 170 have reported to date ...

  • International markets roundup AAP - 36 minutes ago

    A roundup of trading on major world markets: NEW YORK - Nervous investors have sold down US stocks after surviving last week's turbulence, amid continued worries over the potential broader impact of China's ...

  • Data unlikely to be helpful for Hockey AAP - 48 minutes ago
    Data unlikely to be helpful for Hockey

    Joe Hockey will be hoping for some good news on the economy over the next few days to take the spotlight off his position as treasurer. Prime Minister Tony Abbott has thrown his full support behind his treasurer after a media report said two cabinet ministers had urged the Liberal leader to dump Mr Hockey should the party perform badly in the September 19 by-election in Canning. Mr Abbott says nobody has approached him with concerns about Mr Hockey.

  • Australian market set to open lower AAP - 48 minutes ago

    The Australian market looks set to open lower after Wall Street fell with nervous investors selling down stocks amid continued worries over the potential impact of China's slowdown. At 0645 AEST on Tuesday, ...

  • Building approvals tipped bounce AAP - 52 minutes ago
    Building approvals tipped bounce

    Building approvals are expected to have risen in July, after they suffered their largest fall in almost a year the month before. Westpac economists said the June fall was overdone and should be reversed in July but expect dwelling approvals to eased in the coming months from the strong surge earlier this year.

  • Rates to hold steady amid sluggish growth AAP - 53 minutes ago
    Rates to hold steady amid sluggish growth

    The Reserve Bank is widely tipped to leave the cash rate unchanged at Tuesday's board meeting as new figures point to a sluggish economy. The central bank is expected to keep its key rate at a record low of two per cent for another month, although financial markets still see the risk of a cut to 1.75 per cent by the end of the year.

  • $A softer amid 9pct spike in oil prices AAP - 56 minutes ago

    The Australian dollar has crept lower despite a weaker greenback and a spike in most commodities. At 0630 AEST on Tuesday, the currency was trading at 71.17 US cents, down from 71.42 cents on Monday. Overnight, ...

  • RBA unlikely to change interest rate AAP - 3 hours ago

    The Reserve Bank is expected to look through recent market turmoil and keep the cash rate unchanged for the foreseeable future. All 16 economists surveyed by AAP expect the RBA to keep the cash rate unchanged at its September meeting on Tuesday, and only three expect another cut before the middle of next year. The central bank cut its interest rate by a quarter of a percentage point in February and again in May, taking the cash rate to a new record low of two per cent.

  • Businesses confident but won't spend AAP - 6 hours ago

    Businesses are growing more confident, but still seem to be reluctant to back it up by investing in their operations. The latest Dun and Bradstreet Business Expectations survey shows that 61 per cent of businesses are more optimistic about their growth prospects than a year ago, while 31 per cent are less optimistic. The survey showed 29 per cent of businesses believe weak demand for their products and services is the largest barrier to growth, with 13 per cent saying a shortage of skilled workers is their main concern.

  • Quickflix considers its future AAP - 10 hours ago
    Quickflix considers its future

    Streaming service Quickflix has launched a major review aimed at reviving its struggling business. The restructure is expected to take at least a month, but Quickflix says it will continue to deliver for its current customers. A partnership deal between Quickflix and Presto recently fell through, and another tentative deal to buy a Chinese film and TV company also failed to eventuate.

  • Palmer launches new legal attack on CITIC AAP - 10 hours ago
    Palmer launches new legal attack on CITIC

    Clive Palmer's Mineralogy has launched fresh legal action against Chinese-owned enterprise CITIC over claims it owes the Australian company $10 billion in damages. The Palmer United Party founder announced on Monday that proceedings had been filed in the Supreme Court of Western Australia to claim the "net present value" of royalties owed by CITIC. Mr Palmer said the foreign company had shipped up to $500 million worth of iron ore concentrate without meeting its contractual obligations.

  • $A lower after weak economic data AAP - 14 hours ago

    The Australian dollar has been weighed down by a looming interest rate hike in the US and concerns about the local economy. Over the weekend, US central bankers urged the Federal Reserve to raise their interest rate in September. IG chief market strategist Chris Weston said the Australian dollar was also impacted by disappointing business data, and anticipation of the Reserve Bank of Australia's board meeting on Tuesday.

  • Shares fall to cap worst month since GFC AAP - 14 hours ago

    The Australian share market has closed one per cent lower as investors fretted over the possibility the US Federal Reserve could soon raise interest rates. Federal Reserve vice chairman Stanley Fischer said over the weekend that the US central bank would not wait for inflation to hit two per cent before tightening policy. "It (a rates rise in the US) could signal the end of the easy-money party that we've seen come out of the GFC, and it would be the first rates hike in eight years," he said.

  • Aust bonds firm as stocks fall AAP - 14 hours ago

    Bond futures prices surged on new concerns about the local and Chinese economies, Nomura rates strategist Andrew Ticehurst said. "That reflects weakness in Chinese equity markets and downward revisions to Wednesday's GDP (gross domestic product) figures," he said. Estimated business inventories, seasonally adjusted, were flat in the June quarter, following a 0.6 per cent rise in the three months to March, the Australian Bureau of Statistics said on Monday.

  • Aust market falls on US rate anxiety AAP - 15 hours ago

    The Australian share market has closed one per cent lower as investors fretted over the possibility that the US Federal Reserve could soon raise interest rates. Over the weekend, Federal Reserve vice-chairman Stanley Fischer said the US central bank would not wait for US inflation to hit two per cent before tightening policy. OptionsXpress market analyst Ben Le Brun said Mr Fischer's comments had unnerved investors, sending the US futures market lower and pushing Asian markets into the red.

New Zealand Markets

Company Finances

  • Popular foods taking on new hues without artificial dyes Associated Press - Fri, Aug 21, 2015 3:28 AM NZST
    Popular foods taking on new hues without artificial dyes

    Mozzarella cheese at Panera restaurants won't be as glaringly white. Banana peppers in Subway sandwiches won't be the same exact shade of yellow. Trix cereal will have two fewer colors. Food makers are ...

  • Subway's latest challenge: Getting out from Jared's shadow Associated Press - Thu, Aug 20, 2015 12:17 PM NZST
    Subway's latest challenge: Getting out from Jared's shadow

    Subway benefited hugely from Jared Fogle's weight loss story. Now the sandwich chain needs to figure out how to prevent him from overshadowing its future. It's not clear how customers will react to Fogle's ...

  • Teens' e-cigarette use linked with later smoking Associated Press - Wed, Aug 19, 2015 3:55 AM NZST
    Teens' e-cigarette use linked with later smoking

    Teens who use e-cigarettes are more likely than others to later smoke conventional cigarettes and other tobacco products, a study at 10 Los Angeles high schools suggests. The study doesn't prove that electronic ...

  • Police: Stolen replica of Papa John's Camaro recovered Associated Press - Tue, Aug 18, 2015 7:24 AM NZST
    Police: Stolen replica of Papa John's Camaro recovered

    A Chevrolet Camaro used in promotions for pizza chain Papa John's was found Monday after being among three vehicles stolen from around a Detroit-area event showcasing classic cars, police said. The car ...

  • Gouda news: Maine's cheese making boom continues sharp rise Associated Press - Mon, Aug 17, 2015 6:30 AM NZST
    Gouda news: Maine's cheese making boom continues sharp rise

    Heather and Doug Donahue left careers in teaching and construction behind to follow a dream of opening a dairy farm and cheese-making business in the rolling fields of Maine. The Donahues, who have run ...

  • High beef prices fueling rustling revival in Plains states Associated Press - Mon, Aug 17, 2015 2:50 AM NZST
    High beef prices fueling rustling revival in Plains states

    Doug Hutchison wears a badge and carries a gun but his most effective weapon in the pursuit of livestock thieves in the nation's largest cattle-producing territory may be his smartphone. With it, Hutchison, ...

  • Agritourism growth sparks concerns over safety, liability Associated Press - Sun, Aug 16, 2015 1:26 PM NZST
    Agritourism growth sparks concerns over safety, liability

    As more farms open themselves up to visitors for apple picking, hay rides and some extra income, experts are advising owners to take steps to prevent accidents — be they small or fatal. Farming is one ...

  • 'Next Gen Stats' offer new insights for NFL fans and coaches Associated Press - Sat, Aug 15, 2015 9:46 AM NZST
    'Next Gen Stats' offer new insights for NFL fans and coaches

    As Richard Sherman sprints side-by-side with Calvin Johnson, who is running faster? When Luke Kuechly collides with DeMarco Murray, who has more momentum? And which NFL players run slower in the fourth ...

  • Fall's hottest new flavors may surprise you CNBC - Sat, Aug 15, 2015 8:05 AM NZST
    Fall's hottest new flavors may surprise you

    With less than a month left of summer, big-name brands are busting out the pumpkin spice and apple pie ahead of schedule.

  • Coca-Cola Amatil in NZ spirits deal AAP - Fri, Aug 14, 2015 6:01 PM NZST
    Coca-Cola Amatil in NZ spirits deal

    Beverages giant Coca-Cola Amatil has struck a 10-year deal to sell and distribute Beam Suntory's brands in New Zealand. Beam Suntory's spirits portfolio in New Zealand includes Jim Beam Bourbon, Canadian ...