Top Stories

  • If you want Friday off, make it legit AAP - 1 hour 29 minutes ago

    Australian Chamber of Commerce and Industry boss James Pearson says misusing sick leaves erodes trust in the workplace, puts extra strain on colleagues doing the right thing and leaves people short of sick leave when they genuinely need it.

  • Battery defects blamed for Note 7 fires AAP - 1 hour 30 minutes ago
    Battery defects blamed for Note 7 fires

    Samsung has blamed faulty batteries for causing its flagship Galaxy Note 7 phones to catch fire and has announced steps to avoid repeat incidents. The announcement on Monday came more than three months after Samsung scrapped the short-lived competitor of Apple's iPhones, wiping $US5.3 billion off its operating profit in one of the biggest tech failures in history. While Samsung Electronics' mobile division is expected to have bounced back from the Note 7 failure during the fourth quarter, investors remained cautious about the outlook due to uncertainty about how the Note 7 fires would affect sales of future flagship devices.

  • WA govt to approve new $5.6b iron ore mine AAP - 1 hour 34 minutes ago
    WA govt to approve new $5.6b iron ore mine

    Western Australia is set to get a new $5.6 billion Pilbara iron ore project involving the billionaire Todd family from New Zealand. The WA government is set to sign a state agreement for a project that would create more than 3300 construction jobs and 910 jobs. The iron ore mine would involve a railway and new port.

  • Markets to keep close eye on Trump AAP - 1 hour 43 minutes ago

    Global financial markets have shown a mixed reaction to the start of Donald Trump's presidency as investors now wait to see if the 45th US president will deliver on his economic promises. US stocks closed modestly higher on Friday after Mr Trump was sworn in - the first time in more than 50 years a new commander-in-chief has been welcomed by a rising equity market. On Monday, the Australian share market opened higher, following on from Wall Street's gains, but had fallen into negative territory by noon.

  • Auditors decry EU food waste AAP - 1 hour 45 minutes ago

    The sheer waste of food had been bothering teacher Marijke De Jongh for so long that two years ago she set up a pop-up restaurant to serve perfectly good groceries and meat that were approaching their expiry date. With her Rekub team, she followed it up with an app that brings thousands of consumers to retail shops where they can buy food approaching its sell-by date. The European Court of Auditors has chided the European Union's executive branch in a report, entitled Combating Food Waste, that decries the bloc's lack of effort in reducing the food waste.

  • Forecast predicts sharp fall in UK mergers AAP - 1 hour 57 minutes ago

    Mergers and acquisitions in the UK are likely to drop sharply in 2017 amid uncertainty over Britain's relationship with the European Union, according to new research. The value of deals is expected to fall to $US125 billion ($A165 billion) this year from $US340 billion ($A450 billion) in 2016 as Britain begins to negotiate its exit from the EU, the law firm Baker McKenzie, a leading adviser on corporate transactions, said in a report.

  • Airbus working on 'flying car' prototype AAP - 2 hours 5 minutes ago

    Airbus Group plans to test a prototype for a self-piloted flying car as a way of avoiding gridlock on city roads by the end of the year, the aerospace group's chief executive says. Airbus in 2016 formed a division called Urban Air Mobility that is exploring concepts such as a vehicle to transport individuals or a helicopter-style vehicle that can carry multiple riders. "One hundred years ago, urban transport went underground, now we have the technological wherewithal to go above ground," Airbus CEO Tom Enders told the DLD digital tech conference in Munich.

  • Cuba sees explosion in internet access AAP - 2 hours 19 minutes ago

    Two days before Christmas, Luis Gonzalez received a little Chinese modem from Cuba's state-owned telecommunications company. The 55-year-old theatre producer connected the device to his phone and his laptop computer, which instantly lit up with a service unimaginable in the Cuba of just a few years ago - relatively fast home internet. "It's really easy to sit and find whatever you need," Gonzalez said as he updated his Facebook account, listening to Uruguayan radio online.

  • Body to assess national security assets AAP - 2 hours 23 minutes ago

    A new federal government body will draft a list of public and private assets which would raise red flags if foreign interests sought to buy or lease them. The Critical Infrastructure Centre is being set up within the attorney-general's department in the wake of the Ausgrid sale veto and the lease of the Port of Darwin. The sale of the NSW power network company Ausgrid to Chinese interests was blocked by the federal government on national security grounds.

  • Workers encouraged to take Friday off AAP - 2 hours 41 minutes ago

    Bosses might be worried about a spike in sickies but the tourism industry is hoping workers will take Friday off and enjoy a four-day long weekend. This week's Australia Day public holiday falls on Thursday, ...

  • S&P; 500 CEOs optimistic on Trump AAP - 2 hours 48 minutes ago

    US President Donald Trump's administration has only just taken over, but already a small parade of S&P 500 companies' chiefs have voiced optimism that his promised tax cuts, stimulus spending and deregulation will boost corporate profits. In the days ahead of Friday's inauguration, senior executives from Morgan Stanley, Delta Air Lines and other major US corporations said the Trump White House had already sparked a brighter outlook for business. "There is certainly more reason to be optimistic as we enter 2017 than there was at the beginning of 2016," Morgan Stanley CEO James Gorman said on Tuesday after his bank reported fourth quarter profit had doubled.

  • Bellamy's class action secures funding AAP - 2 hours 58 minutes ago

    Litigation funder IMF Bentham has agreed to back a class action by Bellamy's shareholders who believe the infant formula company kept them in the dark over its financial performance. IMF Bentham says it proposes to back the Slater and Gordon-conducted action, which alleges an alleged breach of Bellamy's continuous disclosure obligations between April 14 and December 9, 2016. Bellamy's, whose share price has declined about 75 per cent since August, has been accused of failing to properly disclose to investors the risks of China's regulatory changes to the company's revenue.

  • Optimism fades as ASX200 slips into red AAP - 3 hours ago

    The Australian share market has reversed its early gains to sit nearly half a per cent lower at midday. Local optimism generated by Wall Street gains on the day of Donald Trump's inauguration as US president ...

  • Commercial loans surged 14.8% in Nov AAP - 3 hours ago

    Commercial loans, which include investor mortgages, jumped 14.8 per cent to $48.5 billion in November. However, home loans for owner-occupiers inched up only 0.4 per cent to $19.9 billion in the month, ...

  • Stocks to watch AAP - 3 hours ago

    Stocks to watch on the Australian stock exchange: AFI - Australian Foundation Investment Company - up 1 cent, or 0.2 per cent, at $5.89 Australia-focused equity investor AFIC has posted a 19 per cent slip ...

  • May to outline post-Brexit industry plan AAP - 3 hours ago
    May to outline post-Brexit industry plan

    Britain will outline a new, interventionist approach to balancing its heavily services-based economy for the post-Brexit era, seeking to reinvigorate industrial production and stimulate investment in technology and R&D. Unveiling her long-awaited "Modern Industrial Strategy", Prime Minister Theresa May will on Monday demand closer collaboration within key industries in exchange for government support on regulation, trade and research. "The modern industrial strategy will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of our country," May said in an emailed statement before the announcement.

  • Accountants want 10-year budget framework AAP - 3 hours ago

    Chartered accountants are urging Treasurer Scott Morrison to explain a hoped-for budget surplus with something more plausible than just bracket creep and a lift in tax revenue from mining. In its 2017/18 budget submission, Chartered Accountants Australia and New Zealand calls for a 10-year budget framework, saying the present four-year estimates no longer pass muster. "The community deserves a frank picture of the difficulties our country will face over the next 10 years, and rightly expects major political parties to use the budget sitting to present policies on how these challenges will be addressed," spokesman Rob Ward said on Monday.

  • PM trumpets free trade as Trump era begins AAP - 4 hours ago

    Prime Minister Malcolm Turnbull continues to trumpet the benefits of free trade even as the US pulls its support for the controversial Trans-Pacific Partnership pact. The White House issued a statement not long after President Donald Trump's inauguration at the weekend stating the US would not participate in the deal. While Labor argues it's a waste of time to push ahead with ratification, Mr Turnbull insists his government won't be discouraged.

  • Ruralco shares surge on 1Q earnings AAP - 4 hours ago
    Ruralco shares surge on 1Q earnings

    Ruralco shares have surged more than eight per cent after the agribusiness said it has surpassed last year's record first-quarter earnings. The company says live export volumes have increased following a restructure of the unit, with strong volumes and prices - and a recent uplift in the wool market - expected to continue. Its shares had climbed 23 cents, or 8.36 per cent, to $2.98 by 1055 AEDT against the backdrop of a broadly negative market.

  • Brambles weighs on other Aust stock gains AAP - 4 hours ago

    The massive plunge by major logistics company Brambles has largely offset a modest boost to the Australian share market from investor optimism about Donald Trump's presidency. The benchmark S&P/ASX200 ...

  • Dividend declines eat into AFIC half-year AAP - 4 hours ago

    Australia-focused equity investor AFIC has posted a 19 per cent slip in half-year profit courtesy of a dip in company dividend payments. AFIC, or Australian Foundation Investment Company, made a net profit for the six months to December 31 of $118.3 million on revenue of $135.5 million, which was down 13 per cent. The company attributed the lower interim result to lower investment income, primarily from falls in dividends from companies in its portfolio, and said current Australian market prices made it difficult to find outstanding value.

  • NAFTA renegotiations to start soon: Trump AAP - 4 hours ago
    NAFTA renegotiations to start soon: Trump

    US President Donald Trump plans to talk soon with the leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement. "We will be starting negotiations having to do with NAFTA," Trump said at a swearing-in ceremony for his top White House advisers. Trump pledged during his presidential campaign that if elected he would renegotiate the NAFTA trade pact to provide more favourable terms to the US.

  • Brambles warns of FY guidance downgrade AAP - 4 hours ago

    Supply chain logistics group Brambles says it will not meet its full-year profit guidance due to revenue and cost pressures in North America. Brambles on Monday said it expects first-half sales revenue and underlying profit to grow by about five per cent and three per cent, respectively, on a constant currency basis, suggesting the company will undershoot its full-year guidance on both measures. The company had previously flagged constant currency revenue growth of between seven and nine per cent, and underlying profit growth of between nine and 11 per cent.

  • Aust shares lift after Trump inauguration AAP - 5 hours ago

    The Australian shares market has risen on the open, led by financials, mining giants and energy stocks. At 1010 AEDT on Monday, the benchmark S&P/ASX200 index was up 32.1 points, or 0.57 per cent, at 5,686.9, ...

  • Accountants call for 10-yr budget forecast AAP - 5 hours ago

    Budget predictions over a four-year period no longer pass muster with Australians and the federal government must extend its estimates to 10 years. "The community deserves a frank picture of the difficulties our country will face over the next 10 years, and rightly expects major political parties to use the budget sitting to present policies on how these challenges will be addressed," Chartered Accountants' Rob Ward said.

  • McGrath flags weak 2H on agent turnover AAP - 6 hours ago

    Real estate group McGrath has warned it is unlikely to meet analysts' full-year profit forecasts because it anticipates weaker second-half listing volumes following the departure of 36 sales agents. McGrath, which has not given earnings guidance this financial year, on Monday said that "uncharacteristically large agent churn" will make it hard to meet analyst forecasts of market share growth and listing volumes, or to maintain levels achieved in the first half of the 2017 financial year. "We have an unparalleled track record of growing and nurturing the best real estate agents in Australia, and aim to maintain that," chief executive Cameron Judson said in a statement to the ASX.

  • Brambles downgrades sales, profit forecast AAP - 6 hours ago

    Supply chain logistics group Brambles has downgraded its full-year earnings guidance on the back of revenue and cost pressures in North America. Brambles says that, taking into account currency fluctuations - 60 per cent of the group's revenue is generated in currencies other than the US dollar - it expects first-half sales revenue will be up five per cent and underlying profit will be up three per cent. The company said that in light of those results it expects full-year results to be below its previous guidance range of seven to nine per cent for sales revenue and nine-11 per cent for underlying profit.

  • Ruralco flags record 1st quarter earnings AAP - 6 hours ago

    Agribusiness Ruralco Holdings says it has experienced record first-quarter earnings after increased plantings of cotton and rice boosted sales of agricultural chemicals and pre-season fertiliser. Ruralco ...

  • McGrath agent departures to hit earnings AAP - 6 hours ago

    Real estate group McGrath is warning of weaker second-half listing volumes after the departure of 36 sales agents. McGrath, which has not given earnings guidance this financial year, said "uncharacteristically large agent churn" will make it hard to meet analysts forecasts of market share growth and listing volume levels or to maintain the levels achieved in the first half of the 2017 financial year. "We have an unparalleled track record of growing and nurturing the best real estate agents in Australia, and aim to maintain that.

  • Joyce sings praises of free trade AAP - 7 hours ago

    The federal government insists it won't be discouraged by the Trump administration's decision to pull out of the controversial Trans-Pacific Partnership trade deal. The White House issued a statement not long after President Donald Trump's inauguration stating the US had withdrawn support. Asked why the government was pushing ahead with a parliamentary vote on the deal, Mr Joyce said that if America just traded with itself it would be a vastly poorer place.

  • Aust shares set to lift as Trump era opens AAP - 7 hours ago

    Australian shares are poised to gain ground on their first day of trading since the inauguration of Donald Trump as the 45th president of the United States. At 0730 AEDT on Monday, the local SPI 200 futures ...

  • International markets roundup AAP - 8 hours ago

    NEW YORK: US stocks have closed higher in a modest but broad-based advance as Donald Trump was sworn in as the 45th US president, marking the first time in more than 50 years that a new commander-in-chief has been welcomed by a rising equity market on his first day in office. In his speech, Trump said US policy will be to buy and hire American, reiterating what he said many times during his White House campaign.

  • Aussie dollar higher against $US AAP - 8 hours ago

    The Australian dollar is up against the greenback on the first full day on the financial markets following Donald Trump's inauguration as the 45th US president. The local currency was trading at 75.61 ...

  • NSW still the best performing economy AAP - 15 hours ago

    NSW still has the best performing economy in Australia, and Tasmania is the big improver, according to CommSec's latest quarterly State of the States report. CommSec says the nation has a two-tiered economy, with NSW, Victoria and the ACT in the top tier, and the others in the second tier. NSW has held its position as the top-ranked economy, leading on economic growth, business investment, retail spending and dwelling starts.

  • Drive slow in back to school race: police AAP - Sun, Jan 22, 2017 4:23 PM NZDT

    Queensland drivers are being reminded to slow down in school zones from next week as students across the state return to classes. Police Minister Mark Ryan said police would be out in force from Monday ...