Business News | BusinessDay.com.au

Facebook sued while stock climbs

3:54am Shareholders have filed a lawsuit against Facebook, claiming its IPO was misleading, as shares in the company climb after two days of decline.

Greek banks get $23 billion from bailout

2:09am Four leading Greek banks will receive a $23 billion capital injection to boost their liquidity levels, a key element of Greece's second bailout deal.

Dollar's slide in line with fundamentals

Garry Shilson-Josling, AAP Economist 5:14pm The foreign exchange market can be irrational at times but in this case the slide in the Australian dollar is consistent with the economic fundamentals

Stocks tumble on fresh Greek exit fears

4:49pm The Australian share market fell on fresh fears about a Greek exit from the euro zone and slowing growth in China.

China slowdown threatens Aus: World Bank

Evan Schwarten 3:44pm Australia's resources industry could suffer if China's economy slows more quickly than expected in the wake of Europe's debt crisis, the World Bank says

Fairfax makes board changes

1:04pm Fairfax Media has appointed professional corporate adviser James Millar to its board as former IBM Australia CEO Robert Savage retires.

Iluka expects earnings growth in 2012

12:04pm Minerals sand miner Iluka has forecast earnings growth in 2012 despite weaker demand for some of its products.

Japan's April trade deficit widens

11:14am Japan has reported a bigger-than-expected trade deficit of 520.3 billion yen ($A6.66 billion) for April.

Jobs to go as smelter set to close

11:09am 344 jobs are set to be lost as a Norwegian company plans to shut its aluminium smelter at Kurri Kurri in the NSW Hunter Valley.

Bonds higher on euro zone woes

4:59pm Australian bond future prices are higher, on pessimism about the euro zone and on low expectations for forthcoming global data.

Myer downgrades profit forecast

8:54am A further fall in sales in the third quarter of the financial year has prompted Myer to cut its forecast for full year net profit.

Stocks to watch at close on Wednesday

4:29pm Stocks of interest on the Australian Securities Exchange at close on Wednesday

Commodities markets summary

7:29am Commodities news from around the world

International markets roundup

6:59am News from the world’s major stock markets

$A dives on Greek fears

Evan Schwarten and Caroline Smith 5:49pm The Australian dollar has fallen to its lowest level since November as fears grow that Greece will leave the eurozone.

Stocks tumble on fresh Greek exit fears

Alison Bell 6:24pm The Australian share market fell on fresh fears of a Greek exit from the euro zone and slowing growth in China.

Greece shares drop to lowest in 22 years

Another gloomy growth forecast has seen shares on the Athens Stock Exchange drop to their lowest level in 22 years.

Play to our strengths, says Sir Rod

Greg Roberts Australia had to play to its current strengths and not old industries if it wanted to improve productivity, say industry leaders

$A to fall below 90 cents: economist

Evan Schwarten The Australian dollar is likely to fall below 90 US cents, a leading European economist says.

Spotify launches in Australia

Swedish online music outfit Spotify has launched its free-with-advertising streaming service in Australia.

Aust shares close stronger

Greg Roberts A positive offshore lead and stronger energy and resources stocks led the Australian share market higher

Qantas Airways splits in two

Qantas Airways is splitting its international and domestic operations into two separate businesses as part of its five year transformation plans.

Leighton set for $400m-$450m FY profit

Troubled construction giant Leighton Holdings is sticking to its full year profit forecast of between $400 million and $450 million.

Aust bonds down as stocks rally

Australian bond future prices have fallen amid rallies across Asian stock markets

Graincorp upgrades profit guidance

Graincorp's first half profit has grown by 52.5 per cent and the company now expects full year profit to be $20 million higher than its previous forecast.