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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

Interest rates

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

arrows

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

Stockmarket

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

6-10 O'Connell St.

CAROLYN CUMMINS A mining down-turn has seen leasing weaken sharply across the capital city markets.

Property

Convention Centre set to go

Convention centre

SIMON JOHANSON The former Melbourne Convention Centre on the Yarra River is set to be demolished.

Comments

Property

No rally after Lend Lease reassurance

construction generic

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

Pellicano Group

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

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

A panda toy

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

demonstration

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

Markets

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 dinkus

MALCOLM MAIDEN The regulator has arguably become too big to operate efficiently.

Banking

Lenders slow to pass on rate cuts

big four banks

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

Freeway

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

Malcolm Jackman CEO of Elders in Adelaide. Thursday 23rd June 2011.  The  AFR  Picture By David Mariuz

Elizabeth Knight Elders is a bit like the rural services version of Billabong.

Infrastructure

Newcastle port sale to raise $700m

Newcastle port

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

Reserve Bank

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

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

auto wreckers

PETER HANNAM Insurance industry criticised for blocking recovery of highly potent greenhouse gases.

Finance

Lehman lawyers move to block repayments

Lehman Brothers

GEORGIA WILKINS A proposal to return $210 million to Australian clients of Lehman Brothers is in jeopardy.

Mining

Newcrest dragged down

Newcrest

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

John Geber

ELI GREENBLAT John Geber, owner of Chateau Tanunda has decided to pull up stumps and move to the US.

Shandong acquires mining firm

gold

Resources Chinese energy company has raised funds to buy a subsidiary of Stonewall Resources.

Retirement

AusSuper acquires Queensland fund

super

Madeleine Heffernan The country's largest superannuation fund has quickened the pace of consolidation.

Retail

Target offers to settle claim over 'fake' make-up

Target.

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-dinkus

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 dinkus

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

Malcolm Jackman

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

Holden cars

CLAY LUCAS Holden will ask employees at its Adelaide plant to accept a pay cut, in a bid to slash its labour costs.

Comments 4

CBD

Lawsuit no more on Curtis's mind

CBD with Ben Butler.

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

pacific brands

ELI GREENBLAT Pacific Brands boss John Pollaers committs to only modest net sales and earnings growth.

Resources

Tinkler calls Singapore home

Tinkler

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

Ormond 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

Cameron Clyne

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

Online shopping.

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

china flag chinese

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

holden

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

President Barack Obama, accompanied by Federal Reserve Chairman Ben Bernanke.

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

Generic dollar coins.

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

bonds

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

Picture by PAUL ROVERE / THE AGE
15 July 2010

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

Payroll tax

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

Interest rates

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

arrows

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

Stockmarket

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

6-10 O'Connell St.

CAROLYN CUMMINS A mining down-turn has seen leasing weaken sharply across the capital city markets.

Property

Convention Centre set to go

Convention centre

SIMON JOHANSON The former Melbourne Convention Centre on the Yarra River is set to be demolished.

Comments

Property

No rally after Lend Lease reassurance

construction generic

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

Pellicano Group

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

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

A panda toy

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

demonstration

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

Markets

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 dinkus

MALCOLM MAIDEN The regulator has arguably become too big to operate efficiently.

Banking

Lenders slow to pass on rate cuts

big four banks

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

Freeway

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

Malcolm Jackman CEO of Elders in Adelaide. Thursday 23rd June 2011.  The  AFR  Picture By David Mariuz

Elizabeth Knight Elders is a bit like the rural services version of Billabong.

Infrastructure

Newcastle port sale to raise $700m

Newcastle port

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

Reserve Bank

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

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

auto wreckers

PETER HANNAM Insurance industry criticised for blocking recovery of highly potent greenhouse gases.

Finance

Lehman lawyers move to block repayments

Lehman Brothers

GEORGIA WILKINS A proposal to return $210 million to Australian clients of Lehman Brothers is in jeopardy.

Mining

Newcrest dragged down

Newcrest

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

John Geber

ELI GREENBLAT John Geber, owner of Chateau Tanunda has decided to pull up stumps and move to the US.

Shandong acquires mining firm

gold

Resources Chinese energy company has raised funds to buy a subsidiary of Stonewall Resources.

Retirement

AusSuper acquires Queensland fund

super

Madeleine Heffernan The country's largest superannuation fund has quickened the pace of consolidation.

Retail

Target offers to settle claim over 'fake' make-up

Target.

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-dinkus

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 dinkus

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

Malcolm Jackman

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

Holden cars

CLAY LUCAS Holden will ask employees at its Adelaide plant to accept a pay cut, in a bid to slash its labour costs.

Comments 4

CBD

Lawsuit no more on Curtis's mind

CBD with Ben Butler.

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

pacific brands

ELI GREENBLAT Pacific Brands boss John Pollaers committs to only modest net sales and earnings growth.

Resources

Tinkler calls Singapore home

Tinkler

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

Ormond 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

Cameron Clyne

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

Online shopping.

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

china flag chinese

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

holden

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

President Barack Obama, accompanied by Federal Reserve Chairman Ben Bernanke.

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

Generic dollar coins.

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

bonds

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

Picture by PAUL ROVERE / THE AGE
15 July 2010

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

Payroll tax

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.

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