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  • EU states agree UN 2015 climate deal AAP - 8 hours ago

    Environment ministers from all 28 European Union states have agreed on Friday to a fast-track, collective ratification of last year's UN Paris climate deal, the EU said. "All member states greenlight ...

  • Qantas secures new Australia Post deal AAP - 8 hours ago
    Qantas secures new Australia Post deal

    Qantas will continue to fly Australia Post's 12,000-tonnes of international mail and parcels around the globe after securing another five-year multi-million dollar deal. The new contract is on top of the $500 million five-year domestic air freight agreement between the two which included the establishment of a dedicated domestic freighter fleet for Australia Post in July. Qantas, which didn't detail the value of the latest deal, is the largest provider of air freight services for Australia Post.

  • Japan's jobless rate rises to 3.1 per cent AAP - 8 hours ago
    Japan's jobless rate rises to 3.1 per cent

    Japan's unemployment rate has climbed for the first time in six months. The jobless rate moved up to 3.1 per cent in August from three per cent in the previous month, the Ministry of Internal Affairs and Communications said on Friday. The unemployment rate for men increased to 3.4 per cent from 3.2 per cent in July, while the rate for women was unchanged at 2.7 per cent.

  • US lawmakers slam Wells Fargo CEO AAP - 8 hours ago
    US lawmakers slam Wells Fargo CEO

    Angry US congressmen have heaped another round of criticism on Wells Fargo's chief executive, pressing for details about what senior managers knew about allegedly illegal sales practices and when any concerns were disclosed. Chief executive John Stumpf, newly stripped of tens of millions in compensation, told the House financial services committee on Thursday the bank was expanding its review of accounts and would evaluate executives' roles. Several lawmakers, Republican and Democrat, alleged Wells Fargo's sales practices might have violated federal laws, including the federal racketeering laws, which would constitute a criminal offence.

  • Qld used car salesman nabbed for bad loans AAP - 10 hours ago

    A Queensland used car salesman who targeted high interest loans at indigenous people who couldn't afford to pay them off could be fined more than a million dollars. Used car business Supercheap in Cairns advertised car finance with a 20-minute on-site approval to people on Centrelink benefits, former bankrupts, defaulters and those with a bad credit history. Loans with an interest rate of 48 per cent per annum were then provided by the associated Cash Brokers and lender Channic.

  • WA sandalwood firm begins China exports AAP - 11 hours ago
    WA sandalwood firm begins China exports

    West Australian sandalwood producer TFS Corporation has sent its first shipment to China. The processed wood, which sold for $US2.25 million ($A2.96 million), departed Fremantle on Friday. Managing director ...

  • Fitness First gyms in new hands AAP - 12 hours ago
    Fitness First gyms in new hands

    The new private equity owners of Fitness First gyms will use their latest acquisition to build a nationwide presence in the health and fitness industry. Quadrant Private Equity will add Fitness First's 65 clubs to a stable of that includes 76 Goodlife gyms, acquired from Ardent Leisure in August, and 250-plus Jetts 24-hour gyms bought earlier in September. Quadrant executive chairman Chris Hadley said Fitness First's strong NSW presence tied in well with Goodlife's locations in other states.

  • Economists ponder the RBA under Lowe AAP - 12 hours ago

    With a Reserve Bank board meeting looming, economists this week looked ahead to the likely decision on interest rates and how the central bank's approach might shift under its new governor. On Friday afternoon, the futures market gave the likelihood of a cut in the cash rate on Tuesday - from its current record low of 1.5 per cent - a token one in 50 chance, in line with the strong consensus among economists. Economists will pick over Philip Lowe's first statement since he took over as governor from Glenn Stevens.

  • $A lower over Deutsche Bank fears AAP - 12 hours ago

    The Australian dollar is weaker as financial markets are shaken by concerns about the future of Europe's largest investment bank. The local unit was trading at 76.07 US cents at 1700 AEST on Friday, down ...

  • Southern Cross falls on Nine stake sale AAP - 13 hours ago
    Southern Cross falls on Nine stake sale

    Southern Cross Media shares have dropped 13 per cent after broadcaster Nine Entertainment sold its investment in the radio and regional television company for $30 million. Nine sold its 9.99 per cent stake in Southern Cross - the owner of the Triple M and Hit Network radio businesses , at $1.54 per share, a 33.9 per cent premium on the $1.15 the group paid a share just six months ago. Nine's head of investor relations Nola Hodgson said the stake was acquired to help shore up a regional television affiliate deal with Southern Cross Media.

  • Oswals' Perth mansion to be demolished AAP - 13 hours ago
    Oswals' Perth mansion to be demolished

    Perth's "Taj Mahal on the Swan", the unfinished, derelict Perth mansion owned by wealthy Indian couple the Oswals, is to be finally demolished. It's estimated it will cost $300,000 to demolish the graffiti-covered property, with the council to pursue the Oswals for the money. Although they still own the land, Pankaj and Radhika Oswal abandoned the mansion in 2011 after their Burrup Fertilisers empire collapsed a year earlier and they left Australia.

  • Banks and miners pull market lower AAP - 13 hours ago

    The share market has ended the week with a fall, hurt by financial and resources stocks amid concerns about Deutsche Bank's future and the possible implications of its financial woes. The benchmark S&P/ASX ...

  • Stocks to watch AAP - 13 hours ago

    Stocks to watch on the Australian stock exchange: NEC - NINE ENTERTAINMENT - up 8 cents, or 8.2 per cent, at $1.055 SXL - SOUTHERN CROSS MEDIA - down 22 cents, or 13.1 per cent, at $1.465 Broadcaster Nine ...

  • Australian stocks end week with a fall AAP - 13 hours ago

    The share market has fallen as major financial and resource companies dropped, offsetting further strength in the energy sector. At 1615 AEST on Friday, the S&P ASX/200 index was down 35.4 points, or 0.65 ...

  • Vic man seriously injured after car flips AAP - 14 hours ago

    A man has suffered serious injuries after his car flipped on to its roof in Victoria, just as police launch a statewide road safety operation over the long weekend. The man in his 30s was taken to hospital after losing control of his car before hitting an embankment in Flowerdale at 4.30am on Friday, police say. Road Policing Acting Assistant Commissioner Debra Robertson hopes the road toll stays at zero during the weekend.

  • Gerry Harvey lifts stake in his company AAP - 14 hours ago
    Gerry Harvey lifts stake in his company

    Harvey Norman co-founder and executive chairman Gerry Harvey has taken home less pay but lifted his lucrative stake in the furniture and homewares retailer. Mr Harvey bought almost 2.7 million Harvey Norman shares in the 2015/16 financial year, taking his total ownership to 29.83 per cent, according to the group's annual report, a stake currently worth $1.7 billion. Chief executive Katie Page, Mr Harvey's wife, was paid $3.1 million, up from $2.9 million a year earlier, after steering the group to a sharp jump in profit.

  • Woolies considers selling petrol stations AAP - 14 hours ago
    Woolies considers selling petrol stations

    Struggling retailer Woolworths is looking at offloading its petrol stations not long after striking deals to rid itself of its loss-making hardware business. The supermarket giant confirmed on Friday that is it considering selling its petrol stations and is discussing a possible deal with several interested parties, reportedly including partner Caltex. This comes a month after Woolworths sold Home Timber and Hardware to Mitre10 owner Metcash and announced it will shut all Masters stores by December 11 with the properties to be sold to a consortium that wants to turn them into retail centres.

  • Vic man taken to hospital after car flips AAP - 14 hours ago

    A man has been taken to hospital after his car crashed into an embankment and flipped on to its roof in Victoria's north. The man in his 30s lost control of his car before hitting the embankment in Flowerdale ...

  • Company fined over WA mine worker death AAP - 16 hours ago

    Heavy duty mechanic Philip Kitching was carrying out maintenance work on a bulldozer at the Woodie Woodie manganese mine when he was crushed by the machine's belly plate on January 20 last year. The Department of Mines and Petroleum found the dozer had modifications, damage and missing parts that contributed to the incident.

  • Gerry Harvey's pay packet shrinks AAP - 16 hours ago
    Gerry Harvey's pay packet shrinks

    Harvey Norman co-founder and executive chairman Gerry Harvey's annual pay has fallen nearly 16 per cent, despite the furniture and homewares retailer's strong profit growth. Mr Harvey's pay totalled $1 ...

  • Japan household spending down 4.6 per cent AAP - 17 hours ago

    Japan's household spending has dropped 4.6 per cent year-on-year for the sixth straight month, showing slumping consumption remains one of the most pressing issues for the world's third-largest economy. Household spending stood at 276,338 yen ($A3588) in August, the Ministry of Internal Affairs and Communications said on Friday. Weak consumption has been seen especially since Prime Minister Shinzo Abe's government raised the country's sales tax to eight per cent from five per cent in April 2014, the first hike in 17 years.

  • Germany, Spain inflation lifts pressure AAP - 17 hours ago

    German inflation has picked up to its highest level in 16 months and Spanish consumer prices have risen for the first time since May 2014, positive signs the European Central Bank's ultra-loose monetary policy is working. The ECB has unleashed unprecedented monetary stimulus in recent years to boost the economy and fight off the threat of deflation.

  • TPP pact under parliamentary scrutiny AAP - 17 hours ago

    The Trans-Pacific Partnership agreement has become a toxic issue in the US ahead of the November presidential election, with both Hillary Clinton and Donald Trump opposing the 12-nation pact. Prime Minister Malcolm Turnbull lobbied US politicians to stay the course on the free-trade agenda during his recent visit to the US. Perth-based mining company Planet will give evidence extolling the merits of a controversial aspect of the deal - investor-state dispute settlements.

  • Budget deficit comes in at $39.6b AAP - 17 hours ago

    The federal government is claiming a win with the final budget deficit for 2015-16 coming in $340 million less than forecast. The underlying cash deficit was $39.6 billion, or 2.4 per cent of gross domestic ...

  • No special rules for Brit banking sector AAP - 17 hours ago

    More than 20 European business associations and companies interviewed by Reuters say they back their governments' position that Britain's banking sector can only enjoy EU market access post-Brexit if the country still follows the bloc's rules. Britain wants a trade deal that gives London's financial district, known as the City, access to EU clients while allowing the government to restrict migration from the bloc - something at odds with the basic rules of the European Union. Senior British government MPs have said they expect European business groups to support their position because they need access to the financial services the City provides.

  • Shares fall on German bank concerns AAP - 17 hours ago

    Australian shares are lower as growing concern about Deutsche Bank's financial woes weigh on most global markets. All sectors of the local bourse are weaker, taking the benchmark S&P/ASX 200 index down ...

  • New home sales recover in August AAP - 18 hours ago
    New home sales recover in August

    The latest bounce in new home sales is a bit like losing momentum on a trampoline while still maintaining an impressive height, the Housing Industry Association says. Sales of new home sales bounced back by 6.1 per cent in August, but that only offset a little more than half the previous month's fall of "a rather hefty" 9.7 per cent. "There are certainly downside risks ahead - the national new home building market will slow and there are risks around property prices in key markets," the HIA said.

  • New home sales bounce back in August AAP - 18 hours ago
    New home sales bounce back in August

    Sales of new home sales bounced back in August, but only enough to offset a little more than half the previous month's fall. The Housing Industry Association said sales jumped 6.1 per cent in August after ...

  • Woolies considers petrol stations sale AAP - 18 hours ago
    Woolies considers petrol stations sale

    Woolworths is considering selling its petrol stations and is discussing a possible deal with several interested parties, reportedly including partner Caltex. Caltex has declined to comment on The Australian newspaper's report that it is negotiating a potential purchase of the supermarket giant's petrol business, which has 530 service stations that generated $4.6 billion in sales in 2015/16. The service stations are owned by Woolworths and are supplied petrol and diesel by Caltex.

  • The business week in numbers AAP - 18 hours ago

    The big and small numbers that grabbed attention - or should have - in the business world over the past week. MONDAY $1.1 billion. Quality standards and information services company SAI Global's board ...

  • Tourism to outperform UK economy for 10yrs AAP - 19 hours ago

    The Local Government Association (LGA) said councils that harness new powers given to them through devolution stand to gain the most from the growing industry. Domestic tourism is predicted to grow 2.9 per cent every year over the next decade, outpacing the overall economy which is expected to expand 2.5 per cent yearly, according to research commissioned by the LGA. Tourism is thriving in part due to holidaymakers who are reportedly taking advantage of the falling pound following the EU referendum vote to spend more while in the UK.

  • Higher pay rates could replace penalties AAP - 19 hours ago
    Higher pay rates could replace penalties

    Small business is buoyed the industrial umpire boss has flagged merit in replacing penalty rates for retail and fast food chain workers with higher hourly pay rates. The Fair Work Commission president Iain Ross has acknowledged a need for greater flexibility for small business. This is about simplicity," Council of Small Business of Australia chief executive Peter Strong told ABC radio on Friday.

  • Shares follow Wall Street lower AAP - 19 hours ago

    The share market is lower as all sectors post falls, particularly financial and resource companies, following a sell-off on Wall Street. The benchmark S&P/ASX 200 index was down 0.63 per cent at 1025 AEST, ...

  • Nine makes $30m on Southern Cross stake AAP - 19 hours ago
    Nine makes $30m on Southern Cross stake

    Broadcaster Nine Entertainment has made a $30 million profit on the sale of its stake in radio and regional television company Southern Cross Media. Nine has sold its 9.99 per cent stake in Southern Cross, the owner of the Triple M and Hit Network radio businesses, at $1.54 per share, a significant increase on the $1.15 it paid per share just six months ago. Nine's head of investor relations Nola Hodgson said the stake was acquired to help shore up a regional television affiliate deal with Southern Cross Media.

  • Woolies looks at selling petrol business AAP - 19 hours ago

    Woolworths has confirmed that it is considering selling its petrol business and is in discussions with a number of interested parties, following a media report Caltex is a potential buyer. "Woolworths has received incomplete and conditional proposals from a number of parties in relation to: a.