Today's News & Views
DreamWorks says TV revenue to hit $US200M
8:11am DreamWorks Animation says its deal to provide original TV shows to Netflix will help it double its TV show revenue by 2015.
Chevron secures Iraqi Kurdish oil deal
8:11am US oil giant Chevron has secured a deal with Iraq's Kurdish regional government to expand oil exploration in the Qara Dagh block.
Alpine Bau says it's insolvent
8:11am Austrian construction giant Alpine Bau says it is insolvent but hopes it can find a plan that will allow parts of it to continue functioning.
Stocks to watch on Wednesday
7:31am Stocks of interest on the Australian Securities Exchange on Wednesday
Commodities markets summary
7:28am Commodities news from around the world
Wall Street
US stocks surge ahead of Fed decision
7:27am US stocks have risen decisively as investors bet the Federal Reserve will stay the course the next day on its economic stimulus policy.
Dollar weakens on US Fed bets
7:26am The Australian dollar is weaker as speculation of a scaling down in US stimulus measures boosts the greenback.
$A weakens as traders see US Fed pare back
7:24am The Australian dollar is weaker as traders buy the greenback on expectation the US Federal Reserve will wind down its bond buying.
Australian market set to open higher
6:44am The Australian sharemarket looks set to open higher.
International markets roundup
6:37am News from the world’s major stock markets
need2know
Aussie stocks set for positive start
8:39am Australian shares are expected to rise in early trade after US equities pushed higher as investors grew more confident that the Federal Reserve will temper its statements on the future reduction of US monetary support.
Global Markets
US stocks rally as yen drops
5:53am US stocks climbed for a second day while the yen weakened as investors awaited clues from the Federal Reserve about its plans for monetary stimulus. UK and German government bonds dropped while European equities were little changed. The Swiss franc strengthened.
Detroit creditors ponder bankruptcy as preferred option
Mary Williams Walsh, Steven Yaccino When New York City threatened to declare bankruptcy in 1975, the idea so terrified everyone that it forced the city, its workers and its recalcitrant bankers to sit down and find ways to share the pain.
Property
Mining, finance cuts blamed for fall in leasing
CAROLYN CUMMINS A mining down-turn has seen leasing weaken sharply across the capital city markets.
Property
Convention Centre set to go
SIMON JOHANSON The former Melbourne Convention Centre on the Yarra River is set to be demolished.
Property
No rally after Lend Lease reassurance
CAROLYN CUMMINS Lend Lease has moved to allay investors' concerns with the issue of a formal profit guidance of between $540 million and $550 million for the full year, despite the weakness in the construction sector.
Property
Pellicano speculates on office needs in south-east
SIMON JOHANSON The Pellicano Group has begun building a large speculative office building in Moorabbin.
Scare of the Dog for Bar entrepreneur
Marc Pallisco Despite having done most of the groundwork, three visits to The Alfred hospital's emergency department earlier this year were enough to make bar owner and art campaigner David Carruthers quit his dream to redevelop one of St Kilda's most prominent sites.
Comment
Banks on way to record profit
Stewart Oldfield Australia's big four banks are on their way to collectively reporting a record $27 billion profit.
Finance
China's credit bubble in danger of imploding
Ambrose Evans-pritchard China's shadow banking system is out of control, Fitch Ratings has warned.
US Economy
Detroit creditors ponder bankruptcy as preferred option
Mary Williams Walsh and Steven Yaccino The crisis in Michigan is building as a gigantic clash between bondholders and city retirees.
ASX
Undecided investors await US Fed move
The sharemarket lost ground as investors waited for an update on economic from the US.
Comment
ASIC has far too much on its plate
MALCOLM MAIDEN The regulator has arguably become too big to operate efficiently.
Banking
Lenders slow to pass on rate cuts
CLANCY YEATES Big banks have passed on rate rises in less than half the time it takes them to deliver cuts.
Infrastructure
Investors back model to fund roads
Matt O'sullivan and Madeleine Heffernan Institutional investors have given the thumbs up to the NSW government's new funding model.
Time for plan B at Elders
Elizabeth Knight Elders is a bit like the rural services version of Billabong.
Infrastructure
Newcastle port sale to raise $700m
ANNA PATTY The NSW government is to sell off its largest remaining port to raise an estimated of $700m.
Economy
RBA content to see the dollar fall
GLENDA KWEK The Reserve Bank appears to talk down the Australian dollar to help stoke economic growth.
Comment
Study in state toll road funding
BRIAN ROBINS Without an election to fight, the NSW state budget was always going to be a low-key affair.
Reserve Bank happy to see dollar trend lower
GLENDA KWEK The Reserve Bank appears to continue talking down the Australian dollar to help stoke economic growth, while the latest board minutes released by the central bank suggests it is open to cutting the cash rate again.
Recycling
Gas salvage from cars would be win for air
PETER HANNAM Insurance industry criticised for blocking recovery of highly potent greenhouse gases.
Finance
Lehman lawyers move to block repayments
GEORGIA WILKINS A proposal to return $210 million to Australian clients of Lehman Brothers is in jeopardy.
Mining
Newcrest dragged down
PETER KER Market watchers say speculation on Newcrest Mining's disclosure is hurting the share price.
Retail
Renowned wine leader to carry out US crusade
ELI GREENBLAT John Geber, owner of Chateau Tanunda has decided to pull up stumps and move to the US.
Shandong acquires mining firm
Resources Chinese energy company has raised funds to buy a subsidiary of Stonewall Resources.
Retirement
AusSuper acquires Queensland fund
Madeleine Heffernan The country's largest superannuation fund has quickened the pace of consolidation.
Retail
Target offers to settle claim over 'fake' make-up
ELI GREENBLAT Embattled retailer Target has all but run up the white flag and offered to settle its court battle.
ASIC has far too much on its plate
MALCOLM MAIDEN Under Greg Medraft, ASIC has become more open about how it spends its limited budget.
Thanks but no thanks, says Elders, now it's time for plan B
ELIZABETH KNIGHT Elders is a bit like a rural version of Billabong - bought the wrong assets, in too much debt.
Agribusiness
Elders digs in after sale plan shelved
PHILIP WEN Elders chief Malcolm Jackman says the debt-laden company can trade itself out of trouble.
Manufacturing
Holden warns of exit if pay cuts rejected
CLAY LUCAS Holden will ask employees at its Adelaide plant to accept a pay cut, in a bid to slash its labour costs.
CBD
Lawsuit no more on Curtis's mind
BEN BUTLER Is there no limit to the magnanimity of Nick Curtis? On Tuesday the kindly rare-earth miner he chairs, Lynas, decided to drop defamation action against a Malaysian protest group.
Manufacturing
PacBrands airs five-year plan
ELI GREENBLAT Pacific Brands boss John Pollaers committs to only modest net sales and earnings growth.
Resources
Tinkler calls Singapore home
BEN BUTLER Embattled coal magnate Nathan Tinkler has moved to set up a new company in Singapore.
Property
History to the fore in redesign of elite college
Stephen Crafti Architects remain true to the heritage of Ormond College, writes Stephen Crafti.
Thailand acknowledges $4.4B rice loss
8:11am A much-criticised scheme to support rice prices in Thailand has lost more than $US 4.46 billion.
Finance
Banks hold firm despite spending slip
ERIC JOHNSTON National Australia Bank boss Cameron Clyne says he would consider a sharemarket spin-out of the bank's British business if there was strong demand for a privatisation process soon to get under way for two major UK banks.
Cost focus for new News Corp, report says
Peter Trute, AAP Senior Finance Writer 5:15pm A CBA report warns Rupert Murdoch's Australian publishing business faces a tough revenue climate.
Fletcher Jones still a trailblazer
4:21pm The late Sir Fletcher Jones would never have imagined that one day his iconic Australian clothing store would be reincarnated online.
Growth
China house prices creating headaches
3:46pm The Chinese central bank is facing the dilemma of balancing the need to support the economy against holding down housing inflation.
Cars
Holden asks staff to take pay cut
3:39pm Holden says its costs $3750 more per car to build vehicles in Australia as it seeks the support of the workforce to achieve savings.
Fed
Bernanke stayed 'longer than he wanted': Obama
3:34pm US President Barack Obama said Federal Reserve Chairman Ben Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
Economy
RBA talks the dollar down
GLENDA KWEK 5:10pm The Reserve Bank sees further falls in the dollar to help rebalance economic growth as the mining boom peaks.
Clothing
PacBrands puts smalls in big picture
ELI GREENBLAT 2:55pm Pacific Brands chief executive John Pollaers has unveiled a five-year blueprint to internationalise the company's underwear division that would clothe shoppers from England to China in such loved Aussie brands as Bonds and Berlei.
Lynas drops case against Malaysia greens
2:32pm Australian rare earths miner Lynas Corporation has ordered its solicitors to drop defamation action against Malaysian activists opposed to its plant.
Big retail critics 'costing jobs':industry
2:02pm Australia's retailers fire back at their critics and defend their record as job creators.
Lend Lease says it'll meet expectations
1:38pm Property developer and construction firm Lend Lease says earnings will still meet market expectations despite softer market conditions.
Markets
Strong bond demand supports dollar
1:12pm Demand for government bonds hit an almost five-month with foreign central banks snapping up Aussie debt as the local dollar leads global currency falls.
Budget
Record stamp duty haul in NSW
BRIAN ROBINS 1:37pm Low interest rates and an upswing in the property market have resulted in the state government budgeting to receive a record $5 billion in stamp duties.
NSW Budget
Payroll tax lifted as indexation goes
BRIAN ROBINS 12:46pm The state government has lifted the payroll tax threshold while removing indexation – meaning more small business owners will be subject to the tax in coming years.
DreamWorks says TV revenue to hit $US200M
8:11am DreamWorks Animation says its deal to provide original TV shows to Netflix will help it double its TV show revenue by 2015.
Chevron secures Iraqi Kurdish oil deal
8:11am US oil giant Chevron has secured a deal with Iraq's Kurdish regional government to expand oil exploration in the Qara Dagh block.
Alpine Bau says it's insolvent
8:11am Austrian construction giant Alpine Bau says it is insolvent but hopes it can find a plan that will allow parts of it to continue functioning.
Stocks to watch on Wednesday
7:31am Stocks of interest on the Australian Securities Exchange on Wednesday
Commodities markets summary
7:28am Commodities news from around the world
Wall Street
US stocks surge ahead of Fed decision
7:27am US stocks have risen decisively as investors bet the Federal Reserve will stay the course the next day on its economic stimulus policy.
Dollar weakens on US Fed bets
7:26am The Australian dollar is weaker as speculation of a scaling down in US stimulus measures boosts the greenback.
$A weakens as traders see US Fed pare back
7:24am The Australian dollar is weaker as traders buy the greenback on expectation the US Federal Reserve will wind down its bond buying.
Australian market set to open higher
6:44am The Australian sharemarket looks set to open higher.
International markets roundup
6:37am News from the world’s major stock markets
need2know
Aussie stocks set for positive start
8:39am Australian shares are expected to rise in early trade after US equities pushed higher as investors grew more confident that the Federal Reserve will temper its statements on the future reduction of US monetary support.
Global Markets
US stocks rally as yen drops
5:53am US stocks climbed for a second day while the yen weakened as investors awaited clues from the Federal Reserve about its plans for monetary stimulus. UK and German government bonds dropped while European equities were little changed. The Swiss franc strengthened.
Detroit creditors ponder bankruptcy as preferred option
Mary Williams Walsh, Steven Yaccino When New York City threatened to declare bankruptcy in 1975, the idea so terrified everyone that it forced the city, its workers and its recalcitrant bankers to sit down and find ways to share the pain.
Property
Mining, finance cuts blamed for fall in leasing
CAROLYN CUMMINS A mining down-turn has seen leasing weaken sharply across the capital city markets.
Property
Convention Centre set to go
SIMON JOHANSON The former Melbourne Convention Centre on the Yarra River is set to be demolished.
Property
No rally after Lend Lease reassurance
CAROLYN CUMMINS Lend Lease has moved to allay investors' concerns with the issue of a formal profit guidance of between $540 million and $550 million for the full year, despite the weakness in the construction sector.
Property
Pellicano speculates on office needs in south-east
SIMON JOHANSON The Pellicano Group has begun building a large speculative office building in Moorabbin.
Scare of the Dog for Bar entrepreneur
Marc Pallisco Despite having done most of the groundwork, three visits to The Alfred hospital's emergency department earlier this year were enough to make bar owner and art campaigner David Carruthers quit his dream to redevelop one of St Kilda's most prominent sites.
Comment
Banks on way to record profit
Stewart Oldfield Australia's big four banks are on their way to collectively reporting a record $27 billion profit.
Finance
China's credit bubble in danger of imploding
Ambrose Evans-pritchard China's shadow banking system is out of control, Fitch Ratings has warned.
US Economy
Detroit creditors ponder bankruptcy as preferred option
Mary Williams Walsh and Steven Yaccino The crisis in Michigan is building as a gigantic clash between bondholders and city retirees.
ASX
Undecided investors await US Fed move
The sharemarket lost ground as investors waited for an update on economic from the US.
Comment
ASIC has far too much on its plate
MALCOLM MAIDEN The regulator has arguably become too big to operate efficiently.
Banking
Lenders slow to pass on rate cuts
CLANCY YEATES Big banks have passed on rate rises in less than half the time it takes them to deliver cuts.
Infrastructure
Investors back model to fund roads
Matt O'sullivan and Madeleine Heffernan Institutional investors have given the thumbs up to the NSW government's new funding model.
Time for plan B at Elders
Elizabeth Knight Elders is a bit like the rural services version of Billabong.
Infrastructure
Newcastle port sale to raise $700m
ANNA PATTY The NSW government is to sell off its largest remaining port to raise an estimated of $700m.
Economy
RBA content to see the dollar fall
GLENDA KWEK The Reserve Bank appears to talk down the Australian dollar to help stoke economic growth.
Comment
Study in state toll road funding
BRIAN ROBINS Without an election to fight, the NSW state budget was always going to be a low-key affair.
Reserve Bank happy to see dollar trend lower
GLENDA KWEK The Reserve Bank appears to continue talking down the Australian dollar to help stoke economic growth, while the latest board minutes released by the central bank suggests it is open to cutting the cash rate again.
Recycling
Gas salvage from cars would be win for air
PETER HANNAM Insurance industry criticised for blocking recovery of highly potent greenhouse gases.
Finance
Lehman lawyers move to block repayments
GEORGIA WILKINS A proposal to return $210 million to Australian clients of Lehman Brothers is in jeopardy.
Mining
Newcrest dragged down
PETER KER Market watchers say speculation on Newcrest Mining's disclosure is hurting the share price.
Retail
Renowned wine leader to carry out US crusade
ELI GREENBLAT John Geber, owner of Chateau Tanunda has decided to pull up stumps and move to the US.
Shandong acquires mining firm
Resources Chinese energy company has raised funds to buy a subsidiary of Stonewall Resources.
Retirement
AusSuper acquires Queensland fund
Madeleine Heffernan The country's largest superannuation fund has quickened the pace of consolidation.
Retail
Target offers to settle claim over 'fake' make-up
ELI GREENBLAT Embattled retailer Target has all but run up the white flag and offered to settle its court battle.
ASIC has far too much on its plate
MALCOLM MAIDEN Under Greg Medraft, ASIC has become more open about how it spends its limited budget.
Thanks but no thanks, says Elders, now it's time for plan B
ELIZABETH KNIGHT Elders is a bit like a rural version of Billabong - bought the wrong assets, in too much debt.
Agribusiness
Elders digs in after sale plan shelved
PHILIP WEN Elders chief Malcolm Jackman says the debt-laden company can trade itself out of trouble.
Manufacturing
Holden warns of exit if pay cuts rejected
CLAY LUCAS Holden will ask employees at its Adelaide plant to accept a pay cut, in a bid to slash its labour costs.
CBD
Lawsuit no more on Curtis's mind
BEN BUTLER Is there no limit to the magnanimity of Nick Curtis? On Tuesday the kindly rare-earth miner he chairs, Lynas, decided to drop defamation action against a Malaysian protest group.
Manufacturing
PacBrands airs five-year plan
ELI GREENBLAT Pacific Brands boss John Pollaers committs to only modest net sales and earnings growth.
Resources
Tinkler calls Singapore home
BEN BUTLER Embattled coal magnate Nathan Tinkler has moved to set up a new company in Singapore.
Property
History to the fore in redesign of elite college
Stephen Crafti Architects remain true to the heritage of Ormond College, writes Stephen Crafti.
Thailand acknowledges $4.4B rice loss
8:11am A much-criticised scheme to support rice prices in Thailand has lost more than $US 4.46 billion.
Finance
Banks hold firm despite spending slip
ERIC JOHNSTON National Australia Bank boss Cameron Clyne says he would consider a sharemarket spin-out of the bank's British business if there was strong demand for a privatisation process soon to get under way for two major UK banks.
Cost focus for new News Corp, report says
Peter Trute, AAP Senior Finance Writer 5:15pm A CBA report warns Rupert Murdoch's Australian publishing business faces a tough revenue climate.
Fletcher Jones still a trailblazer
4:21pm The late Sir Fletcher Jones would never have imagined that one day his iconic Australian clothing store would be reincarnated online.
Growth
China house prices creating headaches
3:46pm The Chinese central bank is facing the dilemma of balancing the need to support the economy against holding down housing inflation.
Cars
Holden asks staff to take pay cut
3:39pm Holden says its costs $3750 more per car to build vehicles in Australia as it seeks the support of the workforce to achieve savings.
Fed
Bernanke stayed 'longer than he wanted': Obama
3:34pm US President Barack Obama said Federal Reserve Chairman Ben Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
Economy
RBA talks the dollar down
GLENDA KWEK 5:10pm The Reserve Bank sees further falls in the dollar to help rebalance economic growth as the mining boom peaks.
Clothing
PacBrands puts smalls in big picture
ELI GREENBLAT 2:55pm Pacific Brands chief executive John Pollaers has unveiled a five-year blueprint to internationalise the company's underwear division that would clothe shoppers from England to China in such loved Aussie brands as Bonds and Berlei.
Lynas drops case against Malaysia greens
2:32pm Australian rare earths miner Lynas Corporation has ordered its solicitors to drop defamation action against Malaysian activists opposed to its plant.
Big retail critics 'costing jobs':industry
2:02pm Australia's retailers fire back at their critics and defend their record as job creators.
Lend Lease says it'll meet expectations
1:38pm Property developer and construction firm Lend Lease says earnings will still meet market expectations despite softer market conditions.
Markets
Strong bond demand supports dollar
1:12pm Demand for government bonds hit an almost five-month with foreign central banks snapping up Aussie debt as the local dollar leads global currency falls.
Budget
Record stamp duty haul in NSW
BRIAN ROBINS 1:37pm Low interest rates and an upswing in the property market have resulted in the state government budgeting to receive a record $5 billion in stamp duties.
NSW Budget
Payroll tax lifted as indexation goes
BRIAN ROBINS 12:46pm The state government has lifted the payroll tax threshold while removing indexation – meaning more small business owners will be subject to the tax in coming years.
