Small businesses back budget

Small businesses back budget

Treasurer Joe Hockey's second budget has gone over well with small businesses, with close to 60 per cent backing the government's $5.5 billion support package. The package was predictably most popular with businesses that will reap the benefits of the government's tax cuts and incentives, though larger businesses were less enthusiastic. Under the small business package, businesses with turnover …

  • Aussie dollar's fall eases AAP - 2 hours 26 minutes ago

    The Australian dollar's slide on weaker than expected business investment figures has eased after the currency hit a six week low. It fell as low as 76.18 US cents in the early hours of Friday, its weakest level since April 15, due to Thursday's surprisingly soft business investment figures. The Australian dollar steadied during Friday's local session as traders wait for more key figures next week, including economic growth, National Australia Bank senior currency strategist Emma Lawson said.

  • $A falls' eases ahead of big data week AAP - 2 hours 44 minutes ago

    The Australian dollar's slide on weaker than expected business investment figures has eased ahead of more key economic readings. At 1700 AEST on Friday, the local currency was trading at 76.53 US cents, ...

  • Aust market up more than 1pc AAP - 2 hours 55 minutes ago

    The Australian share market has made its best single-day gain in a month as investors snapped up beaten-down stocks. CMC Markets chief market analyst Ric Spooner said the jump in the market was surprising given that there was no obvious driver or news when the session started. Mr Spooner said Friday's rally may have been driven by significant interest from overseas investors.

  • Aussie bonds rise on recession talk AAP - 3 hours ago

    Australian bond futures prices have firmed on fears the nation is heading into a recession. Investors are still reacting to Thursday's poor business investment figures, UBS interest rate strategist Matthew ...

  • Evolution raises $172m for Cowal mine AAP - 3 hours ago

    Evolution Mining is set to become Australia's second largest gold producer after successfully raising funds to buy a NSW gold mine. Evolution has raised $172 million from institutional investors to help fund the acquisition of Cowal mine, in central NSW, from the world's largest gold miner, Barrick Gold. Evolution is buying Cowal for $US550 million ($A702.74 million) in a deal that will significantly lift its gold production.

  • Stocks to watch on Friday AAP - 3 hours ago

    Stocks to watch on the Australian stock exchange at the close on Friday: CBA - COMMONWEALTH BANK - up $1.59, or 1.9 per cent, to $85.09 WBC - WESTPAC BANKING CORPORATION - up 44 cents, or 1.33 per cent, ...

  • Aust shares close higher AAP - 3 hours ago

    The Australian share market has closed higher, with the big banks driving the broader market to its best one-day gain in a month. At the close on Friday, the benchmark S&P/ASX200 index was 64.1 points, or 1.12 per cent, higher at 5,777.2, while the broader All Ordinaries index was up 60.3 points, or 1.06 per cent, at 5,774.9, according to preliminary figures.

  • Oil Search says low prices to stay AAP - 3 hours ago

    Oil Search boss Peter Botten has warned oil prices are likely to stay low for the next five years, putting up to $5.5 trillion worth of projects around the world at risk. Mr Botten said the rise of US shale producers, combined with OPEC countries' determination to preserve their market share meant it would be difficult for oil prices to rise significantly above their current levels. "There are market forces that mean the oil price is not going to rise massively over the next five or so years," he said.

  • Virgin boss rubbishes open skies plan AAP - 4 hours ago
    Virgin boss rubbishes open skies plan

    Virgin Australia boss John Borghetti has rubbished a federal government plan to allow foreign airlines to fly domestic routes in the country's north, saying it simply wont work. The Abbott government is reportedly considering a so-called "open skies" plan to open routes in northern Australia to foreign carriers in order to increase competition, bring down prices and stimulate local economies.

  • MARKET CLOSE: NZ shares rise led by F&P, Nuplex BusinessDesk - 4 hours ago

    New Zealand shares rose, led by Fisher & Paykel Healthcare after its annual results beat forecasts. Nuplex Industries extended recent gains. F&P Healthcare advanced 4.8 percent to $6.60 after the medical device maker reported annual profit rose 17 percent to $113.2 million, beating earlier forecasts, and said earnings would rise further in the coming year to between $125 million to $130 million.

  • NZ dollar heads for 2.4% weekly drop as Fed eyes rate … BusinessDesk - 4 hours ago

    The New Zealand dollar is heading for a 2.4 percent weekly drop against the greenback as comments by Federal Reserve officials revive expectations the world's biggest central bank will hike interest rates this year, while investors grow wary about the local outlook. The kiwi sank to 71.32 US cents at 5pm in Wellington from 73.11 cents on Friday in New York last week. A BusinessDesk survey of 13 currency advisers predicted the kiwi would trade between 70.60 US cents and 75 cents this week, with 11 expecting it to fall and two betting it would gain.

  • RBNZ to press ahead with plans to carve out property … BusinessDesk - 4 hours ago

    The Reserve Bank of New Zealand is pressing ahead with proposals to create a new asset class for lenders, which will let it target Auckland property investors as a means to take the heat out of the market in the country's biggest city, despite opposition from the majority of submissions. The central bank will go ahead with plans requiring lenders to carve out borrowing for property investors as an asset class sub-set, requiring higher levels of capital, and defining those borrowers who aren't owner-occupiers. The bank considers residential property investor loans have a different risk profile that should have more capital held against them, as they have higher gearing than a home-owner's loan and are more at risk during economic downturns.

  • NZ wool prices hold at elevated levels as volumes  … BusinessDesk - 4 hours ago

    New Zealand wool prices remained elevated at auction this week, with lamb wool touching a fresh four-year high, as less wool was offered for sale. Lamb wool jumped to $7 per kilogram at yesterday's North Island auction, from $6.90/kg at last week's South Island auction, marking its highest level since March 2011, according to AgriHQ. Volumes are expected to decline further at next week's South Island auction where 7,100 bales will be offered for sale.

  • Economists find little joy in latest data AAP - 4 hours ago

    A bleak quarterly survey of business investment plans has economists reviewing their forecasts. The results of the survey were seen as a key cross-check on the progress of the so-called rebalancing, or baton change, as mining investment fades and investment picks up in other sectors of the economy. Thursday's report "clearly clouds" the handover, Commonwealth Bank economist Diana Mousina said.

  • Govt won't force Shipley out Newstalk ZB - 5 hours ago

    The Government isn't going to remove Dame Jenny Shipley as the chair of Genesis Energy.

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  • Google's 'Chucky' teddy bear to control the home CNBC - Tue, May 26, 2015 10:58 PM NZST
    Google's 'Chucky' teddy bear to control the home

    Google's boffins have floated the idea of making internet-connected teddy bears that will have the ability to control gadgets and devices in the home.

  • How One Apparel Brand Is Bringing Style to Sustainable Clothing Entrepreneur - Tue, May 26, 2015 10:00 PM NZST
    How One Apparel Brand Is Bringing Style to Sustainable Clothing

    Nothing hip and sexy about sustainable and recycled fabrics? Guess again.

  • Why This Fantasy Sports Company Is a Dream Come True for Fans Entrepreneur - Tue, May 26, 2015 10:00 PM NZST
    Why This Fantasy Sports Company Is a Dream Come True for Fans

    Bigger, stronger, faster: FanDuel is fantasy sports on steroids.

  • Samsung Galaxy S6 Edge gets a superhero makeover CNBC - Tue, May 26, 2015 6:18 PM NZST
    Samsung Galaxy S6 Edge gets a superhero makeover

    Samsung Electronics launched a limited Iron Man edition of its Galaxy S6 Edge on Tuesday, in the company's latest push to promote its curved screen smartphone.

  • Corporate maneuver at Samsung strengthens heir's influence Associated Press - Tue, May 26, 2015 4:36 PM NZST
    Corporate maneuver at Samsung strengthens heir's influence

    Two key Samsung companies are merging in a step toward ensuring the son of the group's ailing chairman inherits control of the theme parks to smartphones conglomerate. Samsung said Tuesday that its defacto ...

  • Latest in food-track tech: Swipe a code, meet your fisherman Associated Press - Tue, May 26, 2015 7:01 AM NZST
    Latest in food-track tech: Swipe a code, meet your fisherman

    After eyeing a piece of haddock on the supermarket counter, a customer scans a code and finds out the fish was caught in the waters of Georges Bank and learns the name of the fishing boat — and maybe even ...

  • Automakers to reveal models covered by wider air bag recall Associated Press - Sun, May 24, 2015 1:01 AM NZST
    Automakers to reveal models covered by wider air bag recall

    Eleven automakers are expected next week to reveal which models are being added to a massive recall of air bags made by Takata Corp. On Tuesday, the U.S. National Highway Traffic Safety Administration ...

  • Wal-Mart's push on animal welfare hailed as game changer Associated Press - Sat, May 23, 2015 5:17 AM NZST
    Wal-Mart's push on animal welfare hailed as game changer

    Wal-Mart's push to get its suppliers to give farm animals fewer antibiotics and more room to roam is expected to have a big impact on the food industry, experts say. Though the steps are voluntary, Wal-Mart, ...

  • Chef Sentenced to Three Years in Jail for Spitting in Customer's Food Entrepreneur - Sat, May 23, 2015 2:32 AM NZST
    Chef Sentenced to Three Years in Jail for Spitting in Customer's Food

    The New Jersey cook spat on an overly demanding customer's roll.

  • McDonald's CEO 'proud' of pay hike AAP - Fri, May 22, 2015 11:05 AM NZST
    McDonald's CEO 'proud' of pay hike

    McDonald's CEO Steve Easterbrook says he's "incredibly proud" of a recent decision to bump pay for some workers, even as hundreds of protesters outside called on the company to do more ahead of its annual shareholder meeting. Easterbrook, who stepped into his role in March, is fighting to revive sluggish sales and convince people that McDonald's is a "modern, progressive burger company". Easterbrook said at the meeting in Oak Brook, Illinois, that he was proud of the decision announced last month to raise pay for workers at company-owned stores to $1 above the local minimum wage, as well as offer help with college tuition to workers at all stores.