News archive from 5 March 2013

Big Four tipped to start rates war

AN unprecedented out-of-cycle interest rate cut may still be on the cards, even if the Reserve Bank keeps the official cash rate on hold, as expected, today. News Limited's shadow Reserve Bank has voted to keep the cash rate on ice today, but three...

 

US stocks slip after launch of budget cuts

US stocks have opened modestly lower as traders remained cautious after Washington moved into austerity mode with the launch of the steep sequester spending cuts. Ten minutes into trade on Monday, the Dow Jones Industrial Average was down 40.63...

 

Chinese jitters prompt $21b wipe-out

The benchmark S&P/ASX 200 Index lost 75.6 points, or 1.5 per cent, to 5010.5, while the broader All Ordinaries fell 72.4 points, or 1.4 per cent, to 5028.5. In cash terms, about $21 billion was wiped off the sharemarket. Stocks in China suffered...

 

Lines clue to market moves

The half-yearly profit reporting season just completed gave investors cause for optimism, with the more gloomy predictions of some analysts not coming to pass. But ''where to from here?'' The market is still 1000 points below its pre-crash highs, but...

 
Genworth delays float plan after big payouts

Genworth delays float plan after big payouts

Mortgage insurer Genworth Financial is unlikely to proceed with plans to list its Australian arm until late this year at the earliest, after a jump in payouts squeezed earnings last year. The delay to the float plans, outlined in its latest financial...

 

It's all about the clicks over bricks: Online sales stage a January rebound

Figures suggest that online retail might not always suffer the traditional post-holiday blues that traditional stores historically have endured. National Australia Bank's latest online retail sales index, released on Monday, shows online sales grew 27...

 

Lynas taps new chief as production ramps-up

President and chief operating officer Eric Noyrez will take over as chief executive on March 31, while Mr Curtis will remain on the company's board as non-executive chairman. Lynas said the reshuffle, which also saw Lynas director Liam Forde named...

 
Miners target $200b project spree

Miners target $200b project spree

Australia's biggest miners will spend $US213 billion in capital on new and existing projects over the next seven years, more than half of it in this country, despite a new focus on costs. Commodity prices have fallen and investment levels have peaked...

 
Talk grows of Westfield sell-down

Talk grows of Westfield sell-down

Speculation is gaining momentum that the Westfield Group could undertake a sell-down of interests in shopping centres across the country to raise funds for its expanding global developments. As long as the group retains a 25 per cent stake in the...

 

When friends turn frenemies

Just a few weeks ago, Southern Cross Austereo boss Rhys Holleran was the No. 1 fan of Lachlan Murdoch's Ten Network. ''They are making some really good progress and we remain very supportive,'' Holleran told analysts on a February 18 call. Ten...

 

Deal that played well for Packer

The secret work was done and evidence was taken in response to the decisions made by the Packer/Murdoch-led Ten board to scrap the Ten digital channel, One, which had been entirely devoted to sport. At the time the Packer-controlled Consolidated Media...

 

Dollar and markets shudder over Chinese fears

The fall came as more than $21 billion was wiped from the local sharemarket, which shed 1.5 per cent for the second-biggest fall of the year on the back of a large and unexpected sell-off on the Chinese sharemarket. The benchmark S&P/ASX 200 Index...

 

Chinese jitters prompt $21b wipe-out

The benchmark S&P/ASX 200 Index lost 75.6 points, or 1.5 per cent, to 5010.5, while the broader All Ordinaries fell 72.4 points, or 1.4 per cent, to 5028.5. In cash terms, about $21 billion was wiped off the sharemarket. Stocks in China suffered...

 

Lines clue to market moves

The half-yearly profit reporting season just completed gave investors cause for optimism, with the more gloomy predictions of some analysts not coming to pass. But ''where to from here?'' The market is still 1000 points below its pre-crash highs, but...

 
Genworth delays float plan after big payouts

Genworth delays float plan after big payouts

Mortgage insurer Genworth Financial is unlikely to proceed with plans to list its Australian arm until late this year at the earliest, after a jump in payouts squeezed earnings last year. The delay to the float plans, outlined in its latest financial...

 
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