News archive from 23 May 2013

Aussie dollar, US markets slip as stimulus end eyed

Aussie dollar, US markets slip as stimulus end eyed

The Australian dollar and US stocks have fallen after mixed messages from the Federal Reserve over its $US85 billion a month stimulus program.The Fed's chairman Ben Benanke told Congress it was too soon to scale back the stimulus because it was...

ABC News, 09:00 in Business
 
Gina Rinehart rated 'more powerful' than Julia Gillard in Forbes list

Gina Rinehart rated 'more powerful' than Julia Gillard in Forbes list

Billionaire mining magnate Gina Rinehart is rated as more influential than Prime Minister Julia Gillard in a list of the world's most powerful women released by Forbes magazine.With a fortune of $17 billion, iron ore mogul and would-be media tycoon...

ABC News, 09:00 in Business
 

RHG shares surge after Resimac bid

The conditional proposal values the target, RHG Mortgage Corp, about $130 million. RHG shares surged 9.5 per cent to 41¢. Resimac tried to buy RHG's loan book earlier this year but that bid failed because the price was too low. Under the latest...

 

RHG shares surge after Resimac bid

The conditional proposal values the target, RHG Mortgage Corp, about $130 million. RHG shares surged 9.5 per cent to 41¢. Resimac tried to buy RHG's loan book earlier this year but that bid failed because the price was too low. Under the latest...

 

RHG shares surge after Resimac bid

The conditional proposal values the target, RHG Mortgage Corp, about $130 million. RHG shares surged 9.5 per cent to 41¢. Resimac tried to buy RHG's loan book earlier this year but that bid failed because the price was too low. Under the latest...

 
Bernanke comments hit US stocks, Australian dollar

Bernanke comments hit US stocks, Australian dollar

Wall Street saw its biggest one day swing in six months and the Australian dollar dropped overnight as investors raised concerns that the US Federal Reserve will scale back its stimulus program shortly.Markets initially rose as Federal Reserve...

ABC News, 09:20 in Business
 
Ford Australia to shut Broadmeadows car factory, Geelong engine plant

Ford Australia to shut Broadmeadows car factory, Geelong engine plant

FORD Australia is set to drop a bombshell on the car industry this morning. It is expected to announce the closure of its Broadmeadows car factory and its Geelong engine plant. The struggling car-maker has sent out a media alert about an impending...

 

Profit falls at James Hardie

JAMES Hardie's full year net profit has fallen significantly because of changes to its asbestos liabilities and the impact of legal battles with the tax office. The building products maker today posted a net profit of $US45.5 million ($47.19 million)...

 

Tumbling PC sales drag down HP profit

HEWLETT-PACKARD says its quarter profit has been hit by a dramatic slump in sales of personal computers, but maintains its reorganisation is making progress. The troubled but biggest maker of personal computers said net profit in the second fiscal...

 

Telstra to axe jobs in major shake-up

Jobs to go: Telstra. Photo: Glenn Hunt Significant job losses are expected at Telstra after the telco announced sweeping changes to its operational structure as it shifts away from its legacy business. The telco plans to divert its resources towards...

TheAge, 09:25 in Business
 

Telstra to axe jobs in major shake-up

Jobs to go: Telstra. Photo: Glenn Hunt Significant job losses are expected at Telstra after the telco announced sweeping changes to its operational structure as it shifts away from its legacy business. The telco plans to divert its resources towards...

 
Telstra to axe jobs in major shake-up

Telstra to axe jobs in major shake-up

Significant job losses are expected at Telstra after the telco announced sweeping changes to its operational structure as it shifts away from its legacy business. The telco plans to divert its resources towards high-growth areas such as wireless, NBN...

 
Ford poised for 'important announcement' amid shutdown speculation

Ford poised for 'important announcement' amid shutdown speculation

Ford Australia says it is poised to make an "important business announcement", amid speculation that the car-maker will confirm an end to all Australian manufacturing.Ford executives have called a press conference at the company's Melbourne...

ABC News, 09:43 in Business
 

Markets Live: Ford shuttering plants

9:51am: We will be watching the Ford story as it develops throughout the morning and bring you news as it breaks. In the meantime, the major news overnight came from the US Federal Reserve, which said it would continue its stimulus efforts but it...

TheAge, 09:58 in Business
 

Markets Live: Ford shuttering plants

9:55am: In corporate news this morning, building materials group James Hardie has posted a fourth quarter to March net profit of $US30.7 million, down from $US34.5 million, amid ongoing tough trading conditions in its key markets. It has declared a...

 
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