SA govt to be quizzed over budget

The South Australian opposition will gets its chance to grill the state government over its recent budget with the start of Estimates Committee hearings in state parliament. Liberal leader Steven Marshall ...

  • Commerce Commission considers Wallace rendering plant … BusinessDesk - 15 minutes ago

    ![CDATA[ By Sophie Boot July 28 (BusinessDesk) - The Commerce Commission is considering a merger of meat rendering plants. Wallace Group has applied to buy up to 100 percent of the assets of Wallace Corporation, ...

  • Facebook shares hit record high AAP - 39 minutes ago
    Facebook shares hit record high

    Facebook Inc's quarterly profit and revenue blew past Wall Street estimates, sending its shares to a record high, as the social media company's popular mobile app and push into video attracted new advertisers and encouraged existing ones to spend more. Facebook shares rose 6.5 per cent in after-hours trading on Wednesday to $US131.40, their highest since the company went public in 2012. Total advertising revenue surged 63 per cent to $US6.24 billion ($A8.33 billion), beating the average analyst estimate of $US5.80 billion, according to market research firm FactSet StreetAccount.

  • ANZ 'pulled fast one' on Apple Pay AAP - 50 minutes ago
    ANZ 'pulled fast one' on Apple Pay

    ANZ has been accused by its big four rivals of "pulling a fast one" when it walked away from a world-first effort to make Apple let iPhone users access contactless payments via the banks' own apps. Commonwealth Bank, National Australia Bank and Westpac have asked the competition watchdog for permission to negotiate jointly with Apple in the hope of getting the US tech giant to discuss opening up the tap-and-pay technology to iPhone apps other than its own Apple Pay. ANZ had initially lined up for what Lance Blockley, spokesman for the applicant banks, said was the first attempt anywhere by banks to negotiate en masse with Apple, but then changed tack and joined with Apple Pay.

  • Inflation figures support August rate cut AAP - 52 minutes ago

    An August interest rate cut looks likely after the price of Australian goods and services rose at its weakest pace in 17 years. Economists say the official inflation numbers released on Wednesday, while largely in line with expectations, cement the case for the Reserve Bank to cut the cash rate at its meeting next week. The consumer price index rose 1.0 per cent in the year to the June quarter, its weakest annual rise since 1999.

  • ANZ Bank's Australian court victory in fees class action … BusinessDesk - 53 minutes ago

    Australia's High Court has dismissed an appeal in a class action suit against fees charged by Australia & New Zealand Banking Group but the ruling won't necessarily derail a similar representative action over bank fees in New Zealand that were put on hold pending the outcome. "It's not going to cause us to throw in the towel," said Andrew Hooker, one of the lawyers representing the Fair Play on Fees litigation group, which launched a case against ANZ New Zealand in June 2013 and against Kiwibank in November of that year. Australia's highest court ruled in favour of ANZ Bank, saying it was entitled to charge late payment fees on credit card accounts and such fees didn't amount to unconscionable conduct.

  • $A slightly higher on US dollar weakness AAP - 1 hour 9 minutes ago

    The Australian dollar has gained some ground after the US dollar weakened on signs the Federal Reserve is not ready to lift interest rates in September. It fell further overnight after the US dollar initially strengthened on the Federal Reserve's brighter outlook for the US economy, BK Asset Management's FX strategy managing director Boris Schlossberg said. "Although the tone of the Fed's communique was hawkish, it was not optimistic enough to convince people that they'll hike rates in September," he said.

  • UK's May hints at new model for Brexit AAP - 1 hour 19 minutes ago
    UK's May hints at new model for Brexit

    Britain's future ties with the European Union may not mirror any of the existing relationships between non-EU countries and the bloc, Prime Minister Theresa May has said after meeting her Italian counterpart. The Financial Times reported on Wednesday that international trade minister Liam Fox was pressing May to pull out of the EU's customs union, an area in which there is free movement of goods but where tariffs are imposed on external borders. Fox has said a free trade agreement with the EU was more likely than staying in the customs union, which could restrict Britain's ability to negotiate lower tariffs with other trading partners, the Wall Street Journal reported on Tuesday.

  • International markets roundup AAP - 1 hour 35 minutes ago

    Wall Street has ended lower after the Federal Reserve left interest rates unchanged but opened the door to a possible rate increase later this year. The Fed had not been expected to move interest rates at its two-day meeting, ending on Wednesday (US time), but investors have been anxious for hints about when an increase might come in light of concerns about fallout from Britain's vote in June to leave the European Union.

  • Stocks to watch AAP - 1 hour 36 minutes ago

    Stocks to watch on the Australian stock exchange: ERA - ENERGY RESOURCES Energy Resources is slated to release half-year results on Thursday. GUD - GUD Holdings GUD Holdings is slated to have a full-year ...

  • Facebook revenue jumps on ad sales AAP - 1 hour 38 minutes ago
    Facebook revenue jumps on ad sales

    Facebook Inc's quarterly revenue jumped 59.2 per cent as its hugely popular mobile app attracted new advertisers and encouraged existing ones to spend more. The net income attributable to Facebook's stockholders rose to $US2.05 billion, or 71 cents per share, in the second quarter ended June 30, from $US715 million, or 25 cents per share, a year earlier. The company, which generated 84 per cent of its advertising revenue from mobile ads in the quarter, has been rolling out new features to beef up mobile advertising and is exhorting businesses to experiment with video ads.

  • Bank fee frenzy to continue, Choice says AAP - 1 hour 49 minutes ago
    Bank fee frenzy to continue, Choice says

    Consumers need more protection, with banks to continue their "fee frenzy" after Australia's highest court backed the ANZ over late payment fees, consumer groups say. The High Court dismissed a six-year class action by ANZ customers who argued the bank charged excessive fees for late payments on credit cards. Consumer Action Law Centre CEO Gerard Brody said the decision allows the banks to continue charging exorbitant penalty fees and the government needs to act.

  • Fed keeps key interest rate steady AAP - 1 hour 53 minutes ago
    Fed keeps key interest rate steady

    The Federal Reserve has left interest rates unchanged but says near-term risks to the US economic outlook have diminished, opening the door to a resumption of monetary policy tightening this year. The US central bank said on Wednesday that the economy had expanded at a moderate rate and job gains were strong in June. While Fed policymakers said they continued to closely monitor inflation data and global economic and financial developments, they indicated less worry about possible shocks that could push the US economy off course.

  • Australian market set to open higher AAP - 1 hour 58 minutes ago
    Australian market set to open higher

    The Australian market looks set to open slightly higher after European markets closed higher but Wall Street finished mostly in the red. At 0645 AEST on Thursday, the share price index was up eight points at 5,508. Locally, no major economic news is expected on Thursday.

  • $A recoups some losses AAP - 2 hours 17 minutes ago

    The Australian dollar has rebounded slightly following Wednesday's slide after data showed that annual inflation at just one per cent, t's lowest since 1999. At 0635 AEST on Thursday, the local unit was ...

  • NZ dollar gains after cautiously upbeat Fed; Japan … BusinessDesk - 2 hours 21 minutes ago

    The New Zealand dollar rose after the Federal Reserve said near-term risks for the world's biggest economy were diminishing, keeping on track expectations for an interest rate hike this year. It gained to 74.36 yen from 74.16 yen following Japan's announcement of a stimulus package of more than 28 trillion yen (US$265 billion), bigger than expected and lifting expectations for easing by the bank of Japan on Friday. The Fed left its target interest rate in a range of 0.25 percent to 0.5 percent as expected and said near-term risks to the US economic outlook had diminished and the labour market had improved, suggesting it will raise rates later this year.

New Zealand Markets

Company Finances

  • Subway: Review finds 'serious' complaint about Jared Fogle Associated Press - Sun, Sep 13, 2015 1:30 AM NZST
    Subway: Review finds 'serious' complaint about Jared Fogle

    The Subway restaurant chain said it received a "serious" complaint about Jared Fogle when he was the company's spokesman but that the complaint did not imply any criminal sexual activity. The ...

  • Holden keeps 100 design jobs in Australia AAP - Sun, Sep 13, 2015 1:06 AM NZST
    Holden keeps 100 design jobs in Australia

    Holden will keep more than 100 design jobs and add 18 new positions after manufacturing ends in Australia in 2017. The powertrain engineering and development team will stay in Australia after General Motors reversed a decision to send the jobs overseas. "More than 100 additional Holden engineering staff will continue to apply their skills and talents to local and global vehicle programs," managing director Mark Bernhard said on Saturday.

  • Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles Associated Press - Fri, Sep 11, 2015 6:18 AM NZST
    Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles

    Fiat Chrysler is recalling more than 1.7 million trucks to fix problems with air bags and welds in the steering system. The biggest of three recalls announced Thursday covers 1.35 million Ram 1500, 2500 ...

  • McDonald's to switch to cage-free eggs over next decade Associated Press - Thu, Sep 10, 2015 9:12 AM NZST
    McDonald's to switch to cage-free eggs over next decade

    McDonald's says it will switch to cage-free eggs in the U.S. and Canada over the next decade, marking the latest push under CEO Steve Easterbrook to try and reinvent the Big Mac maker as a "modern, ...

  • Survey shows big gaps in knowledge about auto safety tech Associated Press - Wed, Sep 9, 2015 9:24 AM NZST
    Survey shows big gaps in knowledge about auto safety tech

    Adaptive cruise control has been an option on some cars for almost a decade. But in a recent national survey, 65 percent of U.S. drivers didn't know what it was. The survey, by the University of Iowa Public ...

  • Toyota invests $71m in driverless cars AAP - Sat, Sep 5, 2015 8:10 PM NZST
    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 Cambridge, Massachusetts. Toyota has hired robotics expert Gill Pratt to oversee research aimed at developing artificial intelligence and other innovations that will enable future car models to navigate the roads without people doing all the steering and stopping.

  • Harley riders rumble into Milwaukee for rally, bike show Associated Press - Sat, Sep 5, 2015 12:06 PM NZST
    Harley riders rumble into Milwaukee for rally, bike show

    Gearheads converged on the Harley-Davidson Museum on Friday to show off, talk shop and get started on a weekend motorcycle rally and custom bike show. Tents outside the museum featured T-shirts, trinkets ...

  • Toyota to invest $50M in car-tech research at Stanford, MIT Associated Press - Sat, Sep 5, 2015 7:36 AM NZST
    Toyota to invest $50M in car-tech research at Stanford, MIT

    Toyota is investing $50 million with Stanford University and the Massachusetts Institute of Technology in hopes of gaining an edge in an accelerating race to phase out human drivers. The financial commitment ...

  • From eggs to trees, USDA promotional programs controversial Associated Press - Sat, Sep 5, 2015 6:37 AM NZST
    From eggs to trees, USDA promotional programs controversial

    The slogans are familiar: "The Incredible Edible Egg," ''Pork: The Other White Meat," and "Got Milk?" They've all been part of promotional campaigns overseen by the Agriculture ...

  • Recalls this week: windshield deicer, bicycles Associated Press - Sat, Sep 5, 2015 5:00 AM NZST
    Recalls this week: windshield deicer, bicycles

    More than 4 million bottles of windshield deicer and frost reducer are being recalled because the trigger assembly can be removed by children, posing a risk of poisoning. Other recalled consumer products ...