Iron ore falls to record low

The price of iron ore has fallen to fresh seven-year lows as demand from China slows and surging supplies flood the market. Benchmark iron ore for immediate delivery to the port of Tianjin in China fell to $US51 a tonne from $US52.90, continuing a run of losses since last week. Predictions from various forecasters including Westpac, Deutsche Bank and others that prices will keep falling - possib…

  • 3D print technology provides 'robohand' AAP - 32 minutes ago

    Although she never had much interest in prosthetic limbs before, Faith Lennox couldn't wait to slip on her new robohand and road-test it. The seven-year-old, who lost part of her left arm when she was a baby, grabbed the replacement as soon as it came off a 3-D printer in Los Alamitos, California, on Tuesday.

  • Commodities markets summary AAP - 51 minutes ago

    A summary of trading in key commodities markets overseas: ENERGY Oil prices have fallen as global powers and Iran race to reach a deal on Tehran's nuclear program that could ease sanctions on the crude ...

  • Stocks to watch on Wednesday AAP - 1 hour 9 minutes ago

    Stocks to watch on the Australian stock exchange on Wednesday, April 1: AAD - ARDENT LEISURE - up four cents, or 1.8 per cent, at $2.24 Theme park owner Ardent Leisure has no plans to hold an extraordinary ...

  • Diligent names Brian Stafford as new CEO; Sodi to focus … BusinessDesk - 1 hour 17 minutes ago

    Diligent Board Member Services, the governance software developer, named former McKinsey partner Brian Stafford as its president and chief executive, replacing Alex Sodi. Stafford, who founded and led McKinsey's growth tech practice which primarily focused on software-as-a-service companies, starts immediately, the New York-based company said in a statement. Part of Sodi's focus will be on the development and successful launch of the company's new DiligentTeams product, scheduled for release in the third quarter of this year.

  • $A weighed down by rate cut expectations AAP - 1 hour 19 minutes ago

    Growing expectations of a rate cut next week have knocked the Australian dollar back below 76 US cents. At 0700 AEDT on Wednesday, the local currency was trading at 76.16 US cents, down from 76.32 cents ...

  • Regulator to review UBA standard that sets price for … BusinessDesk - 1 hour 30 minutes ago

    The Commerce Commission is to review the terms under which Chorus offers unbundled bitstream access (UBA) to retail telecommunications companies that sell internet services over its copper network. UBA is a method of supplying broadband services that allows companies to provide internet services over Chorus' copper network without physically installing their own equipment.

  • International markets roundup AAP - 1 hour 34 minutes ago

    A roundup of trading on major world markets: NEW YORK - Wall Street stocks have tumbled, snapping a two-day winning streak to close the first quarter on a sour note as volatility in equity markets stays ...

  • Finance News Update, what you need to know AAP - 1 hour 34 minutes ago
    Finance News Update, what you need to know

    WORLD FINANCE UPDATE: Growing expectations of a rate cut next week have knocked the Australian dollar back below 76 US cents. At 0630 AEDT on Wednesday, the local currency was trading at 76.12 US cents, ...

  • Australian market set to open lower AAP - 2 hours 0 minutes ago

    The Australian market looks set to open lower after falls on Wall Street where healthcare and industrial stocks retreated. At 0645 AEDT on Wednesday, the June share price index futures contract was down ...

  • Rate cut expectations weigh on $A AAP - 2 hours 13 minutes ago

    Growing expectations of a rate cut next week have knocked the Australian dollar back below 76 US cents. The local currency came close to a six-year low overnight, reaching 75.91 US cents as falling iron ...

  • NZ dollar holds steady against greenback amid positive … BusinessDesk - 2 hours 13 minutes ago

    The New Zealand dollar held steady against the US dollar after both countries saw gains in confidence surveys, signalling a positive outlook for their economies. The US dollar index, which measures the greenback against a basket of currencies, advanced after a report showed US consumer confidence rebounded in March, rising to 101.3 from 98.8 in February. A report in New Zealand yesterday showed business confidence rose to a seven-month high in March. "New Zealand business confidence may have strengthened, but US consumer confidence soared, providing a solid counterpoint to New Zealand dollar strength," ANZ Bank New Zealand rural economist Con Williams and senior FX strategist Sam Tuck said in a note.

  • While you were sleeping: Stocks move lower BusinessDesk - 2 hours 45 minutes ago

    Wall Street moved lower, though it remained on track to post an advance for the first quarter of 2015, bolstered by a US economy that by and large continues to accelerate. Indeed, the strength of the US economy warrants higher interest rates as early as June, President Federal Reserve Bank of Richmond Jeffrey Lacker said in a speech on Tuesday. In afternoon trading on Wall Street, the Dow Jones Industrial Average shed 0.6 percent, the Standard & Poor's 500 Index fell 0.4 percent, while the Nasdaq Composite Index retreated 0.5 percent.

  • European milk a threat to dairy industry Newstalk ZB - 3 hours ago

    From today, the European Union has a deregulated milk production industry, meaning the quotas which have restricted the sector are now gone.

  • Warning over fake money in circulation Newstalk ZB - 4 hours ago

    Police fear fake bank notes circulating around the North Island will slip through retailers' hands over a busy Easter trading weekend.

  • Flats give new home sales a big boost AAP - 12 hours ago
    Flats give new home sales a big boost

    Sales rose 1.1 per cent in February, seasonally adjusted, after a 1.8 per cent gain in January, the Housing Industry Association new home sales report shows. Although houses used to be the most common type of home in metropolitan regions, HIA chief economist Harley Dale said this had changed in the past four years with sales of flats, townhouses and semi-detached homes at all-time highs. "When it comes to housing, the Australian dream has typically been characterised as a house in the suburbs, on a quarter-acre block, a lawn in the back yard with a hills hoist, and an Australian made car (or two) in the driveway," Dr Dale said.

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  • Mexican growers offer 15 pct in Baja farm strike Associated Press - Tue, Mar 31, 2015 10:23 AM NZDT
    Mexican growers offer 15 pct in Baja farm strike

    Export-oriented commercial farms in Mexico's Baja California state say they have offered farm workers a 15-percent wage increase to end a two-week-old strike. But leaders of the farmworkers called the ...

  • Michigan entrepreneur claiming idea for Heinz Dip & Squeeze Associated Press - Tue, Mar 31, 2015 9:05 AM NZDT
    Michigan entrepreneur claiming idea for Heinz Dip & Squeeze

    A Michigan food entrepreneur claims the "Little Dipper" condiment package he patented in 1997 led H.J. Heinz Co. to develop its Dip & Squeeze ketchup packets, which it rolled out in February ...

  • McDonald's to test all-day breakfast beginning in April Associated Press - Tue, Mar 31, 2015 6:58 AM NZDT
    McDonald's to test all-day breakfast beginning in April

    A McMuffin for dinner? It might happen, as McDonald's plans to test an all-day breakfast at some locations in the San Diego area starting next month. The company said in a statement that the test is in ...

  • Aussie Beer made in China AAP - Mon, Mar 30, 2015 6:51 PM NZDT
    Aussie Beer made in China

    A liquor wholesaler has been fined $10,200 for trying to pass off a beer brewed in China as Australian. Aussie Beer had green and gold labelling featuring the slogan `Australia's finest malt', plus the words `100% owned' within a map of Australia. The Independent Liquor Group, which includes the Little Bottler, Super Cellars and Pubmart chains of bottle shops, supplied Aussie Beer between March and August 2014. The Australian Competition and Consumer Commission said the packaging was misleading and breached consumer law.

  • Bird flu found in a top Minnesota turkey producing county Associated Press - Sun, Mar 29, 2015 12:27 PM NZDT
    Bird flu found in a top Minnesota turkey producing county

    An outbreak of a deadly bird flu strain spread to one of the top poultry producing counties of the nation's top turkey producing state of Minnesota, government officials confirmed on Saturday, raising ...

  • Dairy farms asked to consider breeding no-horn cows Associated Press - Sun, Mar 29, 2015 3:27 AM NZDT
    Dairy farms asked to consider breeding no-horn cows

    Food manufacturers and restaurants are taking the dairy industry by the horns on an animal welfare issue that's long bothered activists but is little known to consumers: the painful removal of budding ...

  • How This Franchisee Runs More Than 275 Restaurants Entrepreneur - Sun, Mar 29, 2015 12:00 AM NZDT
    How This Franchisee Runs More Than 275 Restaurants

    Aslam Khan is still actively involved in running his Church's Chicken, Long John silvers and Hardees locations across the U.S.

  • Analysts shrug off the Diet Coke downturn CNBC - Sat, Mar 28, 2015 9:13 AM NZDT
    Analysts shrug off the Diet Coke downturn

    Diet Coke sales are plummeting, but most analysts aren't too concerned. Here's why.

  • Old Bay seasoning works on crabs...and beer too! CNBC - Sat, Mar 28, 2015 6:06 AM NZDT
    Old Bay seasoning works on crabs...and beer too!

    Maryland's Flying Dog Brewery is bringing back its Dead Rise Old Bay Summer Ale after having trouble keeping it in stock during its debut.

  • 'Anti-Ball Crushing' Pants Are Putting Lululemon on the Menswear Map Entrepreneur - Sat, Mar 28, 2015 6:00 AM NZDT
    'Anti-Ball Crushing' Pants Are Putting Lululemon on the Menswear Map

    The wildly popular item 'gives you and the family jewels room to breathe,' Lululemon says.