Economists focused on capex data

With economic growth figures and the RBA's interest rate decision due within a week, the quarterly survey of business investment plans came into sharp focus for economists this week. The survey from the Australian Bureau of Statistics (ABS) offers the most comprehensive looks at the economy's medium-term outlook. HSBC's economists, Paul Bloxham and Daniel Smith, said the projections looked much …

  • Housing market boosts Harvey Norman AAP - 8 minutes ago

    The strong housing market has helped boost homewares retailer Harvey Norman's annual profit, and the retailer expects that support to continue over the medium term. Harvey Norman's annual net profit for fiscal 2015 has risen 26.6 per cent to $268.1 million, from $211.70 million last year. "The outlook for the property market in Australia remains positive, particularly new starts, renovation expenditure, and secondary market clearance rates," Harvey Norman chairman Gerry Harvey said on Friday.

  • RBA unlikely to change rate stance AAP - 12 minutes ago
    RBA unlikely to change rate stance

    The Reserve Bank is expected to look through recent market turmoil and keep the cash rate unchanged for the foreseeable future. All 16 economists surveyed by AAP expect the RBA to keep the cash rate unchanged at its September meeting on Tuesday, and only three expect another cut before the middle of next year. The central bank cut its interest rate by a quarter of a percentage point in February and again in May, taking the cash rate to a new record low of two per cent.

  • Apple shipped 3.6 million watches AAP - 14 minutes ago
    Apple shipped 3.6 million watches

    According to analysts at International Data Corp, Apple shipped enough units of its new smartwatch to nearly overtake market leader FitBit in the last quarter. Since its introduction this northern spring, industry experts have debated how successful the new Apple Watch will be. Apple has not revealed how many watches it has sold, and some analysts have concluded consumer interest is lukewarm.

  • Blackmores' shares to carry on: Analyst AAP - 12 hours ago
    Blackmores' shares to carry on: Analyst

    A surge in Blackmores' share price could continue well past the recently hit $100 milestone, with China's voracious appetite for vitamins and supplements far from satisfied. Skyrocketing sales to China as free trade zones were opened last year helped Blackmores achieve 83 per cent profit growth in 2014/15. Its sales in China have gone from just $2 million in 2013/14 to $75 million.

  • Profit continues to fall for Rex AAP - 13 hours ago
    Profit continues to fall for Rex

    Falling passenger numbers due to a downturn in the mining sector has caused a 14 per cent profit fall for airline Regional Express. Passenger numbers in the year to June were down 0.8 per cent from the previous year, even though the company added five new routes in Queensland under a new government contract. Executive chairman Lim Kim Hai blamed a deteriorating economy, with commodity prices falling, retail spending weak and unemployment on the rise.

  • TWU slams Joyce's $11.9m pay packet AAP - 15 hours ago
    TWU slams Joyce's $11.9m pay packet

    Qantas chief executive Alan Joyce's $11.9 million pay packet is an affront to staff forced into part-time work who are struggling to support their families, Transport Workers Union national secretary Tony Sheldon says. Mr Joyce was awarded $6.9 million in shares in 2014/15 as part of long-term incentives, a week after the company reported the largest financial turnaround in Australian corporate history. Mr Sheldon has slammed Mr Joyce's pay packet, saying Qantas should better conditions for all workers, not just executives.

  • Battered oil and gas players enjoy lift AAP - 16 hours ago

    Australia's battered energy players have received a welcome lift with oil prices surging more than 10 per cent. Shares in some of the major energy producers posted gains of more than five per cent on Friday after US oil prices rose above $US40 a barrel, thanks to the US economy expanding at a better than expected annual rate of 3.7 per cent. CMC Markets analyst Rick Spooner said the oil price rally could continue, but prices above $US40 a barrel would not be maintained in the short-term.

  • $A gets a boost from commodity rally AAP - 16 hours ago

    The Australian dollar is higher as optimism returns and commodities and sharemarkets rally. The local share market rose 0.6 per cent and Asian share markets rallied, the highlight being Shanghai's more than four per cent gain, in stark contrast to the steep falls suffered earlier in the week. St George chief economist Hans Kunnen said firmer commodity prices helped the Australian dollar lift off its recent lows.

  • Alan Joyce's pay packet hits $11.9m AAP - 16 hours ago
    Alan Joyce's pay packet hits $11.9m

    Qantas chief executive Alan Joyce's annual pay packet has swelled to $11.9 million due to the airline's cost cutting fuelled turnaround. Mr Joyce's base salary was down slightly at $2 million, while he also got a cash bonus of $1.9 million and almost $1 million in short-term share based bonuses. The huge long-term bonus is the first granted to Mr Joyce in five years.

  • $A higher, as sharemarkets rally AAP - 16 hours ago

    The Australian dollar is higher as optimism returns and commodities and sharemarkets rally. At 1700 AEST on Friday, the local unit was trading at 71.67 US cents, up from 71.13 cents on Thursday. The local ...

  • Australian share market closes higher AAP - 17 hours ago

    The Australian Share market has finished in the black thanks to positive global leads and higher oil prices. Local shares moved higher on Friday following a second consecutive day of gains on Wall street, with energy stocks leading the charge after a 10 per cent gain in the oil price overnight. CMC Markets analyst Rick Spooner said Australian stocks opened strongly but the market did not experience follow-through buying.

  • Flight Centre's legal win to be challenged AAP - 17 hours ago
    Flight Centre's legal win to be challenged

    The competition watchdog is taking its price fixing battle with Flight Centre to the High Court. Flight Centre won an $11 million refund with interest in July after successfully appealing the Australian Competition and Consumer Commission's 2013 Federal Court victory over the travel group. The ACCC had accused Flight Centre of breaching the Trade Practices Act between 2005 and 2009 by insisting airlines could not offer prices directly to customers that were lower than those available to the travel retailer.

  • Bonds weaker as share market bounce AAP - 17 hours ago

    The Australian bond market is weaker as local and Asian share markets enjoy a strong rebound from losses made earlier in the week. Nomura head of macro products Jon Linton said the day was one of stability, ...

  • Harvey Norman profit rises 27pct AAP - 17 hours ago

    Sales growth has helped Harvey Norman lift annual profit by 27 per cent and the continuing strength in the housing market is expected to support future earnings. The homewares retailer made a net profit of $268 million in the 2014/15 year, up from $211 million a year earlier. Excluding property revaluations profit was up 19 per cent, as sales in the company's franchisee stores rose 4.5 per cent on a like-for-like basis.

  • Slater & Gordon defends Quindell purchase AAP - 17 hours ago

    Law firm Slater & Gordon has defended its controversial Quindell acquisition in the UK as it unveiled a number of changes to appease the corporate regulator. The company - the world's first publicly listed law firm - has come under heavily scrutiny in recent months over problems with Quindell, which it acquired for $1.3 billion in March, as well as confusion about its own accounting practices. On Friday it committed to a series of changes to its accounting following discussions with the Australian Securities and Investments Commission, including the early adoption of a new standard and providing greater clarity around the way it books revenue.

New Zealand Markets

Company Finances

  • Popular foods taking on new hues without artificial dyes Associated Press - Fri, Aug 21, 2015 3:28 AM NZST
    Popular foods taking on new hues without artificial dyes

    Mozzarella cheese at Panera restaurants won't be as glaringly white. Banana peppers in Subway sandwiches won't be the same exact shade of yellow. Trix cereal will have two fewer colors. Food makers are ...

  • Subway's latest challenge: Getting out from Jared's shadow Associated Press - Thu, Aug 20, 2015 12:17 PM NZST
    Subway's latest challenge: Getting out from Jared's shadow

    Subway benefited hugely from Jared Fogle's weight loss story. Now the sandwich chain needs to figure out how to prevent him from overshadowing its future. It's not clear how customers will react to Fogle's ...

  • Teens' e-cigarette use linked with later smoking Associated Press - Wed, Aug 19, 2015 3:55 AM NZST
    Teens' e-cigarette use linked with later smoking

    Teens who use e-cigarettes are more likely than others to later smoke conventional cigarettes and other tobacco products, a study at 10 Los Angeles high schools suggests. The study doesn't prove that electronic ...

  • Police: Stolen replica of Papa John's Camaro recovered Associated Press - Tue, Aug 18, 2015 7:24 AM NZST
    Police: Stolen replica of Papa John's Camaro recovered

    A Chevrolet Camaro used in promotions for pizza chain Papa John's was found Monday after being among three vehicles stolen from around a Detroit-area event showcasing classic cars, police said. The car ...

  • Gouda news: Maine's cheese making boom continues sharp rise Associated Press - Mon, Aug 17, 2015 6:30 AM NZST
    Gouda news: Maine's cheese making boom continues sharp rise

    Heather and Doug Donahue left careers in teaching and construction behind to follow a dream of opening a dairy farm and cheese-making business in the rolling fields of Maine. The Donahues, who have run ...

  • High beef prices fueling rustling revival in Plains states Associated Press - Mon, Aug 17, 2015 2:50 AM NZST
    High beef prices fueling rustling revival in Plains states

    Doug Hutchison wears a badge and carries a gun but his most effective weapon in the pursuit of livestock thieves in the nation's largest cattle-producing territory may be his smartphone. With it, Hutchison, ...

  • Agritourism growth sparks concerns over safety, liability Associated Press - Sun, Aug 16, 2015 1:26 PM NZST
    Agritourism growth sparks concerns over safety, liability

    As more farms open themselves up to visitors for apple picking, hay rides and some extra income, experts are advising owners to take steps to prevent accidents — be they small or fatal. Farming is one ...

  • 'Next Gen Stats' offer new insights for NFL fans and coaches Associated Press - Sat, Aug 15, 2015 9:46 AM NZST
    'Next Gen Stats' offer new insights for NFL fans and coaches

    As Richard Sherman sprints side-by-side with Calvin Johnson, who is running faster? When Luke Kuechly collides with DeMarco Murray, who has more momentum? And which NFL players run slower in the fourth ...

  • Fall's hottest new flavors may surprise you CNBC - Sat, Aug 15, 2015 8:05 AM NZST
    Fall's hottest new flavors may surprise you

    With less than a month left of summer, big-name brands are busting out the pumpkin spice and apple pie ahead of schedule.

  • Coca-Cola Amatil in NZ spirits deal AAP - Fri, Aug 14, 2015 6:01 PM NZST
    Coca-Cola Amatil in NZ spirits deal

    Beverages giant Coca-Cola Amatil has struck a 10-year deal to sell and distribute Beam Suntory's brands in New Zealand. Beam Suntory's spirits portfolio in New Zealand includes Jim Beam Bourbon, Canadian ...