Business, Finance and Market News

Breaking News

Asian markets stabilise as crisis eases

3:29PM | Capital markets in emerging Asia are stabilising as the global economic crisis eases and investor appetite returns, the Asian Development Bank said on Tuesday.

Australian firm opens uranium mine in Malawi

5:56AM | An Australian firm has inaugurated a $US220 million ($305.49 million) uranium mine project in northern Malawi, expected to begin producing later this year.

Oil falls on gloomy demand outlook

11:48PM | Oil prices fell below $37 a barrel on Tuesday on expectations crude demand will weaken amid a severe global economic slowdown.

Rudd's cash bonus prompts retail boom

7:38PM | The Rudd government's stimulus package appears to have had its desired effect, with Christmas retail spending up on previous years.

Xstrata to cut 150 jobs in restructure

7:35PM | Mining giant Xstrata will shed 89 contractors and 60 employees at its Mt Isa zinc operation in response to the world financial crisis.

Fonterra cuts milk price paid to farmers

6:55PM | Fonterra says it will cut its base milk price paid to Australian farmers by 32 per cent between February and June.

High-risk loans may lead to losses: KPMG

6:36PM | An unwillingness by Australia's major banks to overhaul faulty risk management frameworks may see them suffer higher loss levels in 2009, according to KPMG.

Analysts pick top jobs for coming year

4:59PM | While many Australians are anxious about losing their jobs during the current financial crisis, some sectors are expected to grow despite the economic downturn.

Sony shares tumble on fears of big loss

4:11PM | Sony shares have plunged on reports that the electronics giant is set to post its first annual operating loss in 14 years because of a slump in demand.

IPOs face tough year ahead

3:47PM | Small companies seeking to raise funds on the Australian stock exchange face a tough year ahead, after enduring a "horror" year in 2008.

Consumers choose lipstick over luxuries

3:24PM | That dream holiday may have been shelved but consumers say they will still be spending on some things that count more - beauty and health-care products.

Hong Kong named world's freest economy

2:24PM | Hong Kong has been named the world's freest economy for the 15th year in a row by US think-tank the Heritage Foundation, followed by Singapore and Australia.

SAI Global agrees to buy Espreon

2:20PM | Information services and training company SAI Global Ltd has agreed to buy financial services provider Espreon Ltd for as much as $53.9 million.

Push to stop online punters using credit

1:41PM | Internet gambling operators should be banned from accepting bets from punters using credit cards, Clubs Australia says.

Perilya transaction 'anti-competitive'

1:37PM | CBH Resources has approached the Takeovers Panel claiming Perilya's planned transaction with China's third-largest zinc producer is anti-competitive.

China posts record trade surplus

1:14PM | China has posted a trade surplus of $US39 billion ($A57.47 billion) in December, the second-highest ever, on a steep drop in imports, according to state media.

NZ announces market operation changes

12:43PM | The Reserve Bank of NZ, to ensure stability and certainty in the current global economic climate, has released details of changes to its open market operations.

China's exports fall again in December

12:29PM | China's exports and imports fell in December for a second month, a government newspaper says.

Great Southern investors reject proposal

12:15PM | Great Southern is exploring other options after investors appear to have rejected proposals to exchange their interests in plantation projects for shares.

Carbon Energy draws gas from coal plant

11:51AM | Carbon Energy Ltd has produced commercially viable gas from its underground coal gasification demonstration plant in south east Queensland.