Toyota invests $71m in driverless cars

Toyota invests $71m in driverless cars

Toyota is investing $US50 million ($A71 million) with Stanford University and the Massachusetts Institute of Technology in the hope of gaining an edge in an accelerating race to phase out human drivers. The financial commitment announced on Friday by the Japanese carmaker will be made over the next five years at joint research centres located in Silicon Valley and another technology hub in Cambri…

  • Unexpected $100 million tax bill for oil companies Newstalk ZB - 12 hours ago

    There's a battle brewing between the big oil companies and the taxman.

  • Doubt rates will fall much further despite 'mortgage … Newstalk ZB - 20 hours ago

    Home owners are being warned that sitting on the sidelines in the hope of lower mortgage rates could cost them in the long run.

  • Mega-mall set for Takapuna Newstalk ZB - 20 hours ago

    The growth of online retail outlets doesn't seem to be deterring investors from putting money into brick and mortar stores.

  • Hockey attacks 'detractors' of free trade AAP - Fri, Sep 4, 2015 9:03 PM NZST
    Hockey attacks 'detractors' of free trade

    Treasurer Joe Hockey has used a global forum to take aim at "detractors" of free trade agreements. Mr Hockey told a B20 business leaders forum in Ankara, Turkey, that bilateral free deals such as that between Australia and China were the key to prosperity and jobs. "Those that stand in the way of free trade are standing in the way of higher growth and job creation," Mr Hockey told the forum, being held on the sidelines of the G20 finance ministers' meeting.

  • Hockey says Aussie dollar not too weak AAP - Fri, Sep 4, 2015 7:41 PM NZST
    Hockey says Aussie dollar not too weak

    Treasurer Joe Hockey says the Australian dollar, now sitting below 70 US cents, isn't too low. Mr Hockey said he would leave judgment of fair value of the Australian dollar to the markets. Mr Hockey said Australia had a diversified economy, much more diversified than people appreciated.

  • $A falls to six year low on global worries AAP - Fri, Sep 4, 2015 7:32 PM NZST

    Ongoing global economic worries have pushed the Australian dollar to a fresh six year low. "It's the same reason as what we've seen recently," Commonwealth Bank chief currency strategist Richard Grace said. The European Central Bank on Thursday downgraded its economic forecasts and inflation forecasts, and hinted at more stimulus if needed.

  • Market edges higher ahead of US jobs data AAP - Fri, Sep 4, 2015 7:06 PM NZST

    The share market has closed slightly higher in a see-sawing session ahead of the release of important jobs figures in the US. Many investors were sitting on the sidelines as they waited for US non-farm ...

  • Boiler room bust on Gold Coast AAP - Fri, Sep 4, 2015 7:05 PM NZST

    Two men will front court this month on charges of money laundering after the latest boiler room investment fraud bust on the Gold Coast. Queensland's Crime and Corruption Commission (CCC) alleges the two men, aged 43 and 67, laundered nearly $200,000 generated by a company, Lay Trading Solutions Pty Ltd. As result of the CCC's ongoing Operation Lima Violin II, both have been issued with notices to appear at Southport Magistrates Court on September 24.

  • Economists gloomy after weak data AAP - Fri, Sep 4, 2015 7:04 PM NZST

    Australian economists were confronted this week by a one-two combination of soft economic growth figures on Wednesday and a fall in retail trade on Thursday. Royal Bank of Canada (RBC) economists Su-Lin Ong and Michael Turner said the economy was "stuck in the slow lane", and lowered their forecasts for GDP growth on the basis of new, lower trajectories for key indicators, including the terms of trade and the ratio of export prices to import prices. One of the stumbling blocks is the lower Australian dollar, which will give the economy a shot in the arm.

  • Aust bonds firm ahead of US jobs figures AAP - Fri, Sep 4, 2015 6:42 PM NZST

    The Australian bond market is firmer as traders avoid riskier assets ahead of the release of US jobs figures. Local bonds tracked global moves overnight and were reasonably well bid in the afternoon session, ...

  • Genting gets NSW nod to lift Echo stake AAP - Fri, Sep 4, 2015 6:28 PM NZST

    The NSW gaming regulator has granted permission to Genting Hong Kong to lift its stake in casino operator Echo Entertainment to up to 23 per cent. Genting HK, a leisure, entertainment and hospitality group, currently holds a 6.6 per cent stake in Echo, the operator of The Star in Sydney, Brisbane's Treasury Casino and Jupiters on the Gold Coast. The company's constitution restricts individuals from having a voting power of more than 10 per cent, unless permission is granted by NSW and Queensland gaming authorities.

  • Stocks to watch on Friday AAP - Fri, Sep 4, 2015 6:19 PM NZST

    Stocks to watch on the Australian stock exchange on Friday, Sept 4: EGP - ECHO ENTERTAINMENT - up 10 cents, or 2.2 per cent, at $4.74 The NSW gaming regulator has granted permission to Genting Hong Kong ...

  • Aust shares close higher AAP - Fri, Sep 4, 2015 6:17 PM NZST
    Aust shares close higher

    The Australian share market has closed higher in a choppy session ahead of US payrolls data, a key measure of the world's largest economy. At the close on Friday, the benchmark S&P/ASX200 index was 12.8 ...

  • Visa fined $18m for being anti-competitive AAP - Fri, Sep 4, 2015 5:41 PM NZST

    Visa has been fined $18 million for abusing its market power to prevent rival currency conversion services on payment terminals that use its cards. The Federal Court ordered Visa pay the fine after ruling in favour of the Australian Competition and Consumer Commission. Visa had effectively blocked a rival currency conversion service on its payment network by prohibiting its expansion over several months in 2010, the court ruled.

  • Banks risk losing lioness' share of $2.4tr AAP - Fri, Sep 4, 2015 4:01 PM NZST

    Financial services that don't tailor their products to women could miss out on the bulk of the biggest intergenerational transfer of wealth in Australian history. During the next three decades, female financial firepower will grow significantly, with baby boomers and their parents set to pass down $2.4 trillion in inheritance. Women will be the main beneficiaries of this bounty, simply due to the biological fact that they live longer than men, ING executive director of customer delivery Lisa Claes says.

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  • French farmers stage 1,000-strong tractor protest in Paris Associated Press - Fri, Sep 4, 2015 2:16 AM NZST
    French farmers stage 1,000-strong tractor protest in Paris

    More than 1,000 tractors — and a few cows — descended on Paris on Thursday in a boisterous protest by farmers who blocked highways to express their anger over falling prices for their goods and high taxes. ...

  • Sony, back in the crosshairs, defends 'Concussion' Associated Press - Thu, Sep 3, 2015 10:23 AM NZST
    Sony, back in the crosshairs, defends 'Concussion'

    Nearly a year after the devastating hacking attack that leaked thousands of emails, Sony Pictures Entertainment again finds itself trying to justify its own inner dealings, this time over the upcoming ...

  • India SUV maker rides into US market ... on a scooter Associated Press - Thu, Sep 3, 2015 6:49 AM NZST
    India SUV maker rides into US market ... on a scooter

    India's largest SUV maker is ready to make its debut on U.S. roads. But it's starting with two wheels, not four. Mahindra hopes to win over city and campus dwellers with a $2,999, Vespa-like electric scooter ...

  • APNewsBreak: Egg group scrambled over eggless mayo maker Associated Press - Thu, Sep 3, 2015 6:48 AM NZST
    APNewsBreak: Egg group scrambled over eggless mayo maker

    A California company that makes an eggless mayonnaise alternative has the U.S. egg industry scrambling. The American Egg Board, which is responsible for the "Incredible, Edible Egg" slogan, waged ...

  • Taco shell is made out of what?! CNBC - Thu, Sep 3, 2015 5:07 AM NZST
    Taco shell is made out of what?!

    Taco Bell has begun selling the "naked crispy chicken taco" a taco the uses fried chicken as a shell.

  • Ahead of the Bell: US factory orders Associated Press - Wed, Sep 2, 2015 11:00 PM NZST
    Ahead of the Bell: US factory orders

    The Commerce Department will release its report on July orders to U.S. factories at 10 a.m. Eastern Wednesday. ORDERS UP: Economists believe that orders rose 0.9 percent, according to a survey by the data ...

  • Harvey Norman buys $34m stake in dairy co AAP - Wed, Sep 2, 2015 11:04 AM NZST
    Harvey Norman buys $34m stake in dairy co

    Homewares retailer Harvey Norman has agreed to pay $34 million for a 49.9 per cent stake in northern Victorian dairy company Coomboona. Coomboona owns land and farm assets in the Coomboona district of ...

  • USOC endorses Los Angeles for 2024 Olympics bid Associated Press - Wed, Sep 2, 2015 10:39 AM NZST
    USOC endorses Los Angeles for 2024 Olympics bid

    The U.S. Olympic Committee on Tuesday named Los Angeles as its candidate for the 2024 Games, replacing Boston's soured bid and marking a comeback for LA's dream of becoming a three-time Olympic host. The ...

  • McDonald's all-day breakfast is going nationwide CNBC - Wed, Sep 2, 2015 7:56 AM NZST
    McDonald's all-day breakfast is going nationwide

    McDonald's will soon serve breakfast any time of the day nationwide beginning October 6.

  • 'McDealerships' multiply to serve auto-sales boom CNBC - Wed, Sep 2, 2015 4:15 AM NZST
    'McDealerships' multiply to serve auto-sales boom

    The rise in US auto sales is sparking the emergence of the so-called "McDealership," and possibly creating a new leg for economic growth.