Exxon misses Street 2Q forecasts

Exxon misses Street 2Q forecasts

Exxon Mobil Corp (XOM) has reported second-quarter profit of $US1.7 billion ($A2.27 billion). The Irving, Texas-based company said it had profit of 41 cents per share. The results did not meet Wall Street ...

  • Microsoft making additional job cuts AAP - 2 hours 4 minutes ago
    Microsoft making additional job cuts

    Microsoft says it is cutting 2,850 jobs, about 2.5 per cent of its workforce, as it further scales back its troubled smartphone business. Microsoft Corp disclosed the planned job cuts in a regulatory filing, which said they're in addition to 9,250 previous layoffs, primarily affecting the company's phone business, over the past 12 months. The giant tech company reported earlier this month that its revenue fell 9 per cent in the previous 12 months, but its net income grew 38 per cent as it shed unprofitable operations like the phone business.

  • Sony profit falls on yen, low phone sales AAP - 2 hours 6 minutes ago
    Sony profit falls on yen, low phone sales

    Sony Corp's fiscal first-quarter profit dipped 74 per cent to Y21.2 billion ($A268.15 million), as earnings got hammered by a strong yen and lagging smartphone sales, and a quake that struck southwestern Japan caused damage and production halts in its semiconductor business. Tokyo-based Sony, the maker of Bravia TVs and Walkman portable players, said an area that did well was game software sales for the PlayStation 4 video game console.

  • Average US 30-year mortgage rate higher AAP - 2 hours 12 minutes ago
    Average US 30-year mortgage rate higher

    Long-term US mortgage rates edged higher this week for a second straight week. They still are near historically low levels to encourage potential homebuyers. Mortgage giant Freddie Mac says the average ...

  • Vodafone adds customers, cuts loss AAP - 4 hours ago

    Australia's third-ranked mobile carrier Vodafone has lifted total customer numbers to 5.5 million and trimmed its first-half loss despite a drop in revenue. Vodafone Hutchison Australia (VHA) reported ...

  • Stocks to watch AAP - 5 hours ago

    Stocks to watch on the Australian stock exchange: JHX - JAMES HARDIE - down 30 cents, or 1.4 per cent, at $21.78 James Hardie chief executive Louis Gries has taken direct control of the building product ...

  • $A slips against greenback, yen AAP - 6 hours ago

    The Australian dollar fell on Friday as the Japanese yen gained against the US dollar in the wake of stimulus measures announced by the Bank of Japan. The local currency was trading at 75.08 US cents at ...

  • Aust market up for fifth straight session AAP - 7 hours ago

    The Australian share market has edged higher after choppy trading - its fifth straight session of gains - despite the Bank of Japan's fresh economic stimulus measures disappointing some investors, and lower oil prices weighing on the resources sector. Phillip Capital senior client advisor Michael Heffernan said the Bank of Japan's stimulus package may have disappointed some investors but had not had a major impact on the overall market. "That (the Bank of Japan) was the big news on the market today but tonight you have the US GDP (gross domestic product figures coming out," Mr Heffernan said.

  • Big data car pool a traffic jam saver AAP - 7 hours ago

    The rise of big data has given new hope that car pooling could be the solution to opening up Australia's gridlocked city roads. From disrupters like Uber to government officials, the potential of massive, detailed trip-mapping data is generating hope that commuters making the same trip each day might share the journey rather than each making their own way in their own road-hogging car. From Uber's new car pooling service to giving freight trucks a green light run through cities the effective use of data and technology could free up billions in wasted productivity, transport experts and operators believe.

  • Origin FY16 revenue up 15 pct on APLNG AAP - 7 hours ago

    Origin Energy's full-year production is up 57 per cent to 231.5 petajoules, helped by the startup of its Australia Pacific liquefied natural gas project in Queensland. June quarter production rose 12 per cent on the March quarter, at 68.4 petajoules, helped by higher APLNG production and increased output production at Otway gas plant.

  • Vodafone trims losses at half-year AAP - 7 hours ago

    Vodafone's Australian business has trimmed its first-half loss by a quarter, to $137 million, and lifted customer numbers as its hefty investment in its mobile network continue to pay off. Australia's third-largest mobile phone provider after Telstra and Optus on Friday said it has boosted its total customer base to 5.5 million, up 4.5 per cent from June 30, 2015. Vodafone Hutchison Australia, a 50/50 joint venture between Vodafone Group and Hutchison Whampoa, posted a 9.7 per cent drop in total revenue to $1.6 billion for the half, attributing the drop to a regulated drop in call charges, but said it expected growth seen over the previous four half-year periods to continue for the remainder of the year.

  • Vodafone Aust owners committed to business AAP - 7 hours ago
    Vodafone Aust owners committed to business

    The owners of third-ranked mobile player Vodafone say they are committed to the Australian market amid mounting speculation that telco provider TPG Telecom could make a play for the group. Vodafone Hutchison Australia chief executive Inaki Berroeta said the group's two owners, Vodafone Group and Hutchison Whampoa, are "committed" to the business, which has made strides since a string of network outages in late 2010 and 2011 that became known as "Vodafail". "The committment by the two shareholders is quite big," Mr Berroeta told AAP during an interview at the group's headquarters in North Sydney.

  • Tame inflation to push RBA over the line AAP - 7 hours ago

    Benign price pressures are tipped to push the Reserve Bank to slash the cash rate to a new record low of 1.5 per cent next month. The market is currently pricing around a 65 per cent chance of August easing, and the majority of economists are tipping a cut pending next week's key inflation figures. The data will be released on Wednesday by the Australian Bureau of Statistics.

  • MARKET CLOSE: NZ shares gain as investors 'buy the … BusinessDesk - 8 hours ago

    New Zealand shares rose to a fresh record, led by Comvita and Fletcher Building. James Smalley, director at Hamilton Hindin Greene, said there was a bit of "buy the rumour" happening in the market, with stocks bought up ahead of reporting season. "Investors will be looking for guidance and a good result doesn't necessarily mean a good share price reaction.

  • CPI left economists divided on rates move AAP - 8 hours ago

    Weak inflation was the focus for most economists this week - a trend confirmed by consumer price index figures on Wednesday - and the prospect that it might prompt another interest rate cut next week. One of these signs came in the form of the National Australia Bank's quarterly survey of small and medium enterprises (SMEs). "This survey provides more evidence that the positive effects of the broadening non-mining recovery are spilling over into smaller businesses," NAB's chief economist Alan Oster said.

  • NZ dollar falls vs yen as Bank of Japan delivers less … BusinessDesk - 8 hours ago

    The New Zealand dollar fell against the yen after the Bank of Japan announced additional monetary stimulus measures that were more modest than some in the market were expecting, driving up its currency. The kiwi fell to a three-week low of 73.10 yen and was at 73.33 yen at 5pm in Wellington, from 74.45 yen late yesterday, after the Bank of Japan kept its policy rate at -0.1 percent while almost doubling its target for purchases of exchange-traded funds. Speculation had grown about the size of the BOJ's stimulus measures, including cutting its policy rate more deeply negative, after the government yesterday unveiled a larger-than-expected 28 trillion yen fiscal package.

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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 ...