Top Stories

  • Coke hopes ginger can restore its fizz AAP - 6 hours ago
    Coke hopes ginger can restore its fizz

    Don't fancy a Cherry Coke? The new flavour is set to hit the shelves within weeks, as part of Australian bottler Coca-Cola Amatil's efforts to reinvigorate sales in Australia. A switch by consumers to drinks with less sugar and lower calories means sales of carbonated soft drinks such as Coca-Cola have not been growing as fast as those of bottled water, energy drinks, flavoured milk and iced tea.

  • $A continues to fall on poor jobs data AAP - 6 hours ago

    The Australian dollar continues to slide because of the weakness shown in the latest employment data. At 1700 AEDT on Friday, the local unit was trading at 76.38 US cents, down from 76.68 cents on Thursday. ...

  • Govts take next steps on Qld's M1 upgrade AAP - 6 hours ago

    There's still no compromise in funding work to Queensland's M1 but the state and federal governments have finally agreed by moving forward on two major upgrade projects on the controversial motorway. Queensland Main Roads Minister Mark Bailey and federal Urban Infrastructure Minister Paul Fletcher were at pains to stress they were moving on "areas of agreement" after meeting in Brisbane on Friday. While the Queensland Labor government is pushing for an 80-20 split, with the federal government to pay the major share, Mr Fletcher said the Turnbull government's offer of 50-50 hadn't changed.

  • Philippines "clarifies" Duterte comments AAP - 7 hours ago
    Philippines "clarifies" Duterte comments

    The Philippines will maintain its trade and economic ties with the United States, Trade Minister Ramon Lopez says, despite President Rodrigo Duterte announcing a "separation" from Washington. Duterte made his comments in Beijing on Thursday while visiting with at least 200 business people to pave the way for what he calls a new commercial alliance as relations with longtime ally Washington deteriorate. "With that, in this venue, your honours, in this venue, I announce my separation from the United States," Duterte told Chinese and Philippine business people to applause at a forum in the Great Hall of the People attended by Chinese Vice Premier Zhang Gaoli.

  • Health sector ills pull share market lower AAP - 7 hours ago

    The share market has fallen slightly due to weakness in the energy sector and a surprise profit warning from private hospitals operator Healthscope. A fall of 0.2 per cent for the S&P/ASX 200 index ended ...

  • Samarco employees charged with murder AAP - 7 hours ago
    Samarco employees charged with murder

    An Australian is among 22 people charged by Brazilian prosecutors over their roles in the collapse of a tailings dam at the Samarco Mineracao SA iron ore mine last November that killed 19 people. The charges follow what is now considered to be the largest environmental disaster in Brazil's history. Samarco, its co-owners Vale SA and BHP Billiton Ltd, and Brazilian engineering company VOGBR Recursos Hidricas e Geotechnica Ltd which certified the dam's safety, were charged with environmental crimes.

  • Healthscope punished after revenue warning AAP - 7 hours ago

    Shares in private hospital operator Healthscope have fallen sharply after the company revealed its revenue growth softened in the first quarter and could dent earnings growth. Chief executive Robert Cooke told the group's annual general meeting Healthscope experienced slower-than-expected revenue growth in the first three months of the 2016/17 financial year. There was slower patient volume growth across the sector in the quarter, and if this trend continues the group's hospitals division will likely experience flat year-on-year operating earnings growth.

  • Stocks to watch AAP - 7 hours ago

    Stocks to watch on the Australian stock exchange: BHP - BHP BILLITON - up 19 cents, or 0.8 per cent, at $23.04 BHP Billiton has rejected charges by Brazilian prosecutors filed against the company and its ...

  • Health sector pulls share market lower AAP - 7 hours ago

    Then share market has closed slightly lower, weighed down by weakness in the energy sector and a surprise profit warning from private hospitals operator Healthscope. At 1615 AEDT on Friday, the S&P ASX/200 ...

  • BHP says it will defend Brazil charges AAP - 8 hours ago
    BHP says it will defend Brazil charges

    BHP Billiton's former head of iron ore and two current Perth-based senior executives are among the eight current or former employees of the mining giant to be slapped with criminal charges by Brazilian prosecutors in relation to last year's fatal Samarco dam disaster. Brazil's federal prosecutors said overnight they have filed criminal charges, including qualified homicide, against 21 people over their roles in the November collapse of a tailings dam at the Samarco iron ore mine, which killed 19 people. Samarco, joint owners BHP and Brazil's Vale, and Brazilian engineering company VOGBR Recursos Hidricas e Geotechnica - which certified the dam's safety - were also charged with environmental crimes.

  • Economists wrestle with tricky jobs data AAP - 8 hours ago

    In his first speech as Reserve Bank governor, Philip Lowe described the labour market picture as "mixed" and official figures two days later backed his description to the hilt. Unemployment fell slightly, but so did employment, in a combination that seems contradictory but pops up on average about one month in two.

  • CAR worst place in world for young people AAP - 9 hours ago

    Little or no access to education and healthcare, poor job prospects and low participation levels in politics make the Central African Republic the worst country in the world to be a young person, an index by a group representing Commonwealth countries showed. Central African Republic has been plagued by inter-religious violence since 2013 when the mainly Muslim Seleka militia seized power, prompting reprisals from Christian anti-Balaka forces. The index released by the Commonwealth Secretariat on Friday ranked 183 nations on employment, education, health and other prospects for people aged between 15 and 29.

  • Wells Fargo faces costly culture overhaul AAP - 10 hours ago

    Until recently, Wells staffers laboured under ambitious quotas while executives boasted to Wall Street about "cross-selling" each customer multiple accounts. Executives will have to dismantle and rebuild systems of sales incentives and performance management that date back two decades, said retail banking experts, including two consultants who have worked for Wells Fargo. CEO John Stumpf and President Tim Sloan have spoken to 500 executives to lay out responses to the scandal, including the addition of 2,000 risk management employees and a series of branch tours by the new head of retail banking, according to the Wall Street Journal.

  • Qld bananas cleared of Panama disease AAP - 10 hours ago
    Qld bananas cleared of Panama disease

    A suspect batch of north Queensland bananas has tested negative for Panama disease. Panama Tropical Race 4 (TR4) program leader Rebecca Sapuppo confirmed after extensive testing in Brisbane that the plants were negative for Panama disease TR4, a soil-borne fungus which attacks banana plants. Another Tully property has been under quarantine since last March after Panama TR4 was found in its banana plants.

  • Qantas warns of industry headwinds AAP - 10 hours ago
    Qantas warns of industry headwinds

    Qantas is not immune from headwinds impacting the airline industry despite making a record underlying profit last financial year, chief executive Alan Joyce has warned shareholders. "Like most other global carriers, intense competition on international routes means we're seeing air fares below where they were 12 months ago," Mr Joyce told the company's annual general meeting on Friday. Chairman Richard Clifford said the airline hopes to once again benefit from a low fuel bill in the current financial year.

  • Loan arrears rising - Moody's AAP - 10 hours ago

    The causes are economic - and will push mortgage delinquencies even higher. "We expect that mortgage delinquencies will rise moderately for the rest of 2016," ratings agency Moody's Investors Service said in a report on Wednesday.

  • Vodafone moves into fixed broadband AAP - 10 hours ago
    Vodafone moves into fixed broadband

    Australia's third largest mobile phone operator Vodafone will expand its business to include fixed broadband, saying the time is right to jump on the national broadband network. Chief executive Inaki Berroeta told a Sydney telecommunications sector conference on Wednesday that the NBN rollout was gaining momentum. "The project is reaching a scale where it provides the platform to deliver a service that complements our mobile network," he said.

  • Former Telstra digital boss joins Tyro AAP - 11 hours ago

    Former Telstra digital boss Gerd Schenkel has taken up a new role as chief executive of payments processor, Tyro Payments. It is Mr Schenkel's first job since leaving telecom giant Telstra in April after five years as executive director & founder of Telstra Digital. The 47 year-old was part of the executive team under former Telstra chief executive David Thodey, who was replace by Andrew Penn in May 2015.

  • Delay for ASIC bank monitoring measures AAP - 11 hours ago

    ASIC's ability to supervise the banking industry isn't likely to improve until the end of next year because of delays in setting up a new funding and breaching reporting framework for the corporate regulator, according to the man tasked with reviewing the changes. Former Commonwealth auditor-general Ian McPhee praised the banks' progress on improving customer remediation and supporting whistleblowers, but his second quarterly report into industry reforms warned movement toward a so-called "user-pays" funding - whereby industry bears the cost of its own regulation - for ASIC has been slow. "Discussions with government and ASIC have commenced, but are in the context of a range of competing priorities within government and its agencies, notwithstanding goodwill on all sides," Mr McPhee said on Friday.

  • Angola's health crisis amid oil price fall AAP - 11 hours ago

    When a plunge in oil prices prompted Angola's government to slash public spending in 2015, street trader Antonio Simao Baptista had no idea it would leave his rundown suburb overwhelmed by filth and disease. The budget of Africa's second largest oil exporter has been cut again in 2016 and is 40 per cent lower than two years ago. Public services, including rubbish collection and water sanitation, are overlooked by contractors who aren't being paid or can't import equipment due to foreign exchange shortages, contributing to a surge in deadly diseases.

  • Full-time work collapse may spark RBA cuts AAP - 11 hours ago
    Full-time work collapse may spark RBA cuts

    Full-time work is rapidly disappearing in Australia and paving the way for further interest rate cuts, economists warn, even as latest data shows a drop in the nation's unemployment rate. Australia's unemployment rate fell to 5.6 per cent in September, from 5.7 per cent in August, it's lowest level in three years. The number of people in full-time jobs fell by 53,000, while only 43,000 gained part-time work, according to Australian Bureau of Statistics figures for September, released on Thursday.

  • BHP Billiton chairman to step down AAP - 11 hours ago
    BHP Billiton chairman to step down

    BHP Billiton chairman Jac Nasser will step down next year after more than 10 years on the board of the resources giant. Mr Nasser, a former chief executive at Ford Motor Company, on Thursday said he will not seek re-election at the next BHP annual general meeting.

  • Health, energy shares pull market lower AAP - 11 hours ago

    The share market is weaker as a fall in oil prices hits energy producers and healthcare stocks are sold off after a private hospital operator warned of slow growth in patient numbers across the sector. ...

  • $A down on weak jobs data, inflation fears AAP - 11 hours ago

    The Australian dollar is falling on the back of disappointing employment data and fears inflation figures, if weak, may trigger a third Reserve Bank rate cut this year. At 1200 AEDT on Friday, the local ...

  • Wall St Republican donors wary of Trump AAP - 12 hours ago

    Largely united in their dislike of Republican presidential candidate Donald Trump, some ultra wealthy US investors who play in conservative politics are warily weighing their choices. As Clinton's lead over Trump has grown in opinion polls, some hedge fund managers who have traditionally donated big money to Republican presidential candidates see the congressional elections as their best hope. Stanley Druckenmiller, one of the best-performing hedge fund managers of all time, told Reuters he had recently given to Republican candidates for Congress in the hope of creating a "firewall" against Clinton's economic policies, including more government control of healthcare and what he described as "astronomical disincentives" to invest.

  • The business week in numbers AAP - 12 hours ago

    A big merger, a big sell-off, employees charged in Brazil and detained in China, and a massive bottle of wine - the big and small numbers that grabbed attention, or should have, in the business world over ...

  • Qantas not immune to industry woes AAP - 12 hours ago

    Qantas is not totally immune from headwinds hurting the airline industry, despite making a record underlying profit last financial year, its chief executive says. "Like most other global carriers, ...

  • Santos narrows sales, output guidance AAP - 12 hours ago

    Santos has narrowed its full-year sales guidance to the top end of its previous target range after total sales volumes leapt 31 per cent in the September quarter, compared with the same period last year. The company now expects total sales volumes of gas, ethane, LNG, condensate, LPG and crude oil of between 81-83 million barrels of oil equivalent (mmboe) in 2016, compared to its earlier estimate of 76-83 mmboe. Santos has also narrowed overall production guidance to 60-62 mmboe, from 57-63 mmboe earlier.

  • State firms $US1.8b fund for China's poor AAP - 13 hours ago

    A group of 51 enterprises run by the Chinese central government has launched a 12.2 billion yuan ($1.83 billion) fund to invest in the country's poorest regions, as part of China's strategic plan to use market forces in the fight against poverty. Firms like the Three Gorges Project Corporation, the State Grid Corporation and the State Development and Investment Corporation will gradually increase the fund to 100 billion yuan, the State-Owned Assets Supervision and Administration Commission (SASAC) say on its website. According to the official Xinhua news agency, 70 million people still live on incomes of less than 2,300 yuan per year, which is China's official poverty line.

  • Many Apple products on Amazon are fake AAP - 13 hours ago
    Many Apple products on Amazon are fake

    Apple says it has been buying Apple chargers and cables labelled as genuine on and has found nearly 90 per cent of them to be counterfeit. The revelation comes in a federal lawsuit filed by Apple against a New Jersey company on Monday over what Apple says are counterfeit products that were sold on Amazon. In the lawsuit, Apple says Mobile Star imprinted Apple logos on cables and chargers that "pose a significant risk of overheating, fire, and electrical shock".

  • Ciobo calls to revamp global trade agenda AAP - 13 hours ago
    Ciobo calls to revamp global trade agenda

    Amid the global rising tide for protectionism, trade ministers will meet in Norway this weekend to urgently consider how to rally support for the free trade agenda. Trade Minister Steve Ciobo will attend a World Trade Organisation meeting and says it needs to be strengthened to ensure a robust agenda for trade negotiations to drive growth and prosperity.

  • Healthscope flags slower revenue growth AAP - 13 hours ago

    Shares in private hospital operator Healthscope have fallen sharply after the company revealed its revenue growth had softened in the first quarter and could dent earnings growth. Chief executive Robert Cooke has told shareholders at the group's annual general meeting on Friday that Healthscope had experienced slower-than-expected revenue growth during the first three months of the 2017 financial year. Mr Cooke said there was slower patient volume growth across the sector during the first quarter, and if this trend continued into the second quarter, the group's hospitals division will likely experience flat year-on-year operating earnings growth.

  • Aust stocks barely changed in early trade AAP - 13 hours ago

    The benchmark S&P/ASX 200 index was down 0.02 per cent after the first half- hour of trade, with strength in mining and financial stocks offset by declines in energy shares. "Some people think the market has had a good run, and there has been some amount of profit taking," said Macquarie Private Wealth division director Lucinda Chan. Newcrest Mining, Evolution Mining and Regis Resources were each down around two per cent.

  • Australian stocks open flat AAP - 13 hours ago

    The Australian share market has opened flat. At 1010 AEDT on Friday, the benchmark S&P/ASX200 index was up 0.9 points, or 0.02 per cent, at 5,443, while the broader All Ordinaries index was down 0.8 points, ...

  • Fuel aid halt suggests Saudi-Egyptian rift AAP - 14 hours ago

    A halt to shipments of Saudi fuel to Egypt under a $US23 billion aid deal shows a rift between the Arab world's richest country and its most populous may be deeper than previously thought, which could leave Egypt desperate for a new sponsor. Under the deal signed in April, Riyadh was meant to send 700,000 tonnes a month of refined fuel to Egypt. A week later, Sisi bit the hand that has fed him since he took power in 2013: Egypt voted in favour of a Russian-backed UN resolution on Syria, which Saudi Arabia strongly opposed.