Gen Y hiding credit card spend: survey

Young Aussies are most likely to hide credit card spending and get into arguments about how much they buy on credit, a survey has found. The poll of 1,200 consumers by found a quarter of those aged 18-34 admitted making secret purchases on their credit cards. "Generation Y was the most untrustworthy group when it came to their credit card spending, as they were more likel…

  • Caltex margins soar on low oil price AAP - 52 minutes ago

    Low oil prices were good news for Caltex's refining business in March when margins more than tripled. The refining business's importance to Caltex in relation to distributing and retailing was significantly reduced with the closure of its Sydney refinery in 2014. Caltex's refiner margins - the difference between the cost of importing crude oil to make fuel products itself and the cost of importing its fuel products from Asia - jumped from a $5.31 a barrel in February to $20.66 in March. A lower oil price does not necessarily translate to lower prices for fuel, which can depend on separate market demand and supply forces.

  • Hills shares dive on profit warning AAP - 1 hour 7 minutes ago

    Shares in technology group Hills have dropped more than 16 per cent after it lowered its full year profit guidance by up to 40 per cent. Hills now expects to post an underlying full year profit of between $11 million and $14 million, well below the $18.5 million to $19.5 million range it flagged in February.

  • $A higher as traders await RBA speech AAP - 1 hour 23 minutes ago

    The Australian dollar has edged higher on the back of softer-than-expected US economic data and as traders await a speech from Reserve Bank of Australia Governor Glenn Stevens on Tuesday. The Australian ...

  • Resources stocks drive shares towards 6000 AAP - 1 hour 27 minutes ago

    Resources stocks are driving the Australian share market towards the key 6,000 mark following gains in commodity prices. Higher oil and iron ore prices have prompted investors to move into the resources ...

  • Bidding war underway for iiNet AAP - 1 hour 40 minutes ago
    Bidding war underway for iiNet

    A bidding war has erupted for internet provider iiNet, with M2 Group putting forward an offer it hopes will trump a proposed deal with rival TPG Telecom. The offer would see iiNet shareholders receive $9.25 worth of M2 stock for every share they own, plus a special dividend of 75 cents. TPG started the bidding war in March with an all-cash $1.4 billion offer, which iiNet recommended to its shareholders. He said the M2 offer would allow iiNet shareholders to benefit from synergies created by the merger and, unlike TPG's cash offer, wouldn't leave them with a capital gains tax bill.

  • Stocks to watch at noon on Monday AAP - 1 hour 43 minutes ago

    Stocks to watch on the Australian stock exchange at noon on Monday: AGO - ATLAS IRON - in trading halt, last traded at 12 cents MCS - MCALEESE - in trading halt, last traded at 16 cents Haulage contractor ...

  • BHP hit with $522m tax bill AAP - 1 hour 59 minutes ago
    BHP hit with $522m tax bill

    BHP Billiton has been hit with a $522 million bill that the Tax Office says it owes for tax avoidance through its Singapore marketing operations. BHP Billiton has responded to questions from the Senate inquiry into tax avoidance saying it is contesting the Tax Office assessments, which are continuing. Of the $522 million, $221 million are penalties for alleged tax avoidance.

  • Ten and Foxtel in talks AAP - 2 hours 34 minutes ago
    Ten and Foxtel in talks

    Ten Network Holdings has played down speculation that it is close to sealing a deal that would see pay TV player Foxtel take a 14.9 per cent stake in the troubled broadcaster. Foxtel is close to agreeing a deal with Ten that would see it inject about $85 million into the free-to-air-broadcaster, The Australian Financial Review reported on Monday.

  • Cuba claims just tell stories now AAP - 2 hours 58 minutes ago

    Inside the offices of a little-known US federal agency, more than 5,900 claims files tally the furniture and factories, clothing and cars that once belonged to Americans in Cuba. Edmund Chester's story began soon after he came home to Louisville, Kentucky, from the Army and got a job as a newspaper reporter. In his off hours, Chester taught himself Spanish, which lead him away again. Chester spent the next decade reporting across the Caribbean and Latin America.

  • Cuba claims applicant won't give up AAP - 2 hours 58 minutes ago

    In 2007, Creighton professors held a news conference to announce their findings about US residents' claims regarding property confiscated by Cuba. The possibility that the Chester family's losses, once worth $US489,000, might instead be devalued, rankled Carolyn Chester. She dug for information, trying to understand how it was that, with so many non-US companies investing in Cuba, its government could possibly have so little to repay claims. Poring over articles about Cuba, she disputed comments from readers who labelled the Americans who had lived on the island as mobsters who got what they deserved.

  • Cuba's economic landscape set for change AAP - 2 hours 58 minutes ago

    The economic landscape of communist Cuba looks set for a major change as strained relations between the Caribbean island nation and the US begin to thaw. But while US and Cuban businesses may be about ...

  • Cuban snatched property claims reviewed AAP - 2 hours 58 minutes ago

    About a decade ago, the notion of a Cuba without Fidel Castro began to seem increasingly possible. "Fidel's looking infirm, and the Bush administration decides, well, if something happens in Cuba we need to have a plan in place," says Michael Kelly, a professor of law at Creighton. Two professors flew to Cuba, searching for homes and businesses listed in claims paperwork, only to find the names of streets had changed. "Each of these tells a little bit of a story," political science professor Rick Witmer says, pointing to entries in a computer database he built from bits of detail about each of the claims.

  • Loss of Cuban home sits heavy AAP - 2 hours 58 minutes ago

    Edmund Chester, in his early 60s with three young children, couldn't afford to retire. "The chicken farms were a financial disaster," son Edmund Jr says.

  • Americans cling to Cuba claims AAP - 2 hours 58 minutes ago

    The smell of Cuban coffee drifts from the kitchen as Carolyn Chester digs through photos, faded with age, that fill four boxes spread across the dining table.

  • Thousands of Cuba claims remain AAP - 2 hours 58 minutes ago

    Throughout the 1960s, the US government's Foreign Claims Settlement Commission fielded thousands of American claims for confiscated Cuban property. The largest came from corporations, led by US-owned Cuban Electric Company, whose seized power plants were valued at $US268 million. After years of mergers, that claim is today held by retailer Office Depot Inc. Luther Coleman was a Detroit entrepreneur who moved his family to the Isle of Pines in 1952, where he bought more than 3,000 acres (1,214 hectares).

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