News archive from 26 February 2013

Start saving now if you want your kids at uni, parents warned

Start saving now if you want your kids at uni, parents warned

PARENTS have been warned to start saving now if they want their children to go to university, with the cost of a degree set to soar by up to 50 per cent in the next 10 years. A new cost analysis by the Australian Scholarships Group projects that...

 
Start saving now if you want your kids at uni, parents warned

Start saving now if you want your kids at uni, parents warned

PARENTS have been warned to start saving now if they want their children to go to university, with the cost of a degree set to soar by up to 50 per cent in the next 10 years. A new cost analysis by the Australian Scholarships Group projects that...

 

Philips drops 'Electronics' name

DUTCH manufacturing giant Philips says it intends to drop the word Electronics from its name as it shifts away from consumer-based entertainment towards health, well-being and lighting products. Based in Eindhoven in the southern Netherlands, Philips...

 

US stocks rise on promise of more stimulus

US stocks have opened solidly higher on expectations of continued economic stimulus measures by central banks. Five minutes into trade on Monday, the Dow Jones Industrial Average rose 53.27 points, or 0.38 per cent, to 14,053.84. The broad-based...

 

Spain's Caixabank to cut about 3,000 jobs

CAIXABANK, Spain's biggest bank as measured by assets under management, plans to slash around 3,000 jobs as part of a restructuring. The Barcelona-based bank said the restructuring was needed following the purchase of smaller rivals Banca Civica and...

 

Record British offshore energy investment

BRITAIN'S offshore oil and gas sector will invest a record STG13 billion ($A19 billion) in 2013, boosted by the impact of taxation changes in the previous year, an industry survey shows. Overall investment is expected to surge by 14 per cent this...

 

Japanese brewer up in arms

Allegations include channel stuffing and a failure to properly record expenses by reversing audit fees, sick leave payments, bonus payments and excise payments, all ''with no reasonable basis to do so and therefore failing to record an expense in...

 

End comes quickly at bottom of the pile

When times are tough cracks are exposed. Both companies' results have been disappointing and their prospects for improvement are equally uncertain. Both are the runts of the litter in their respective mediums. The swift way they were dealt with had...

 

New Ten boss ignites sports bidding war

Mr McLennan, who starts at the network next month, said ''cricket is the next cab off the rank'' in terms of his strategy. Ten will also bid for the broadcasting rights to the Australian Open tennis, which are held by Channel Seven. By bidding for...

 

BlueScope ex-cellar dweller now looking for blue sky

This week's chart, produced by Gary Burton, a member of the Australian Technical Analysts Association and a senior adviser with Wilson HTM Investment Group, shows BlueScope went into a long descending triangle pattern from late 2008 that saw it fall...

 
Caltex back in black - shares rally on good oil

Caltex back in black - shares rally on good oil

HOPES of freeing up cash after the Kurnell refinery closes helped to buoy shares in refiner Caltex Australia, after the group returned to the black for 2012, amid rising demand for premium fuels. Caltex earned a net profit of $57 million in 2012, as...

 
Chevron move boosts Cooper Basin prospect

Chevron move boosts Cooper Basin prospect

HOPES of tapping vast quantities of shale and tight gas in the Cooper Basin have taken a step forward with oil company Chevron committing up to $US349 million to an exploration joint venture with local players Beach Energy and Icon Energy. Chevron is...

 

Failure takes toll on board

Their departure has no impact on the administration process, but suggests the directors will not propose a rescue package and that BrisConnections is heading for liquidation. Directors who resigned alongside Mr Rowe include John Allpass, Martin...

 

Liquidator banned for three years over 'failures'

The Australian Securities and Investments Commission found he failed to provide remuneration reports for 16 external administrations, or took remuneration exceeding maximum limits. It also found he did not properly account for expenses, lodge...

 
Market shifts hit pie maker's bottom line

Market shifts hit pie maker's bottom line

A BOOMING business selling hot pies and other ready-to-go meals to petrol station and convenience stores was not enough to counter a shift by supermarket shoppers to lower-priced packaged desserts, reducing margins for Patties Foods during the half...

 
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