Latest Finance News



Samsung sets record-high profit in Q1

Samsung Electronics Co says its first-quarter net income has jumped 42 per cent over a year earlier to a record high thanks to robust smartphone sales even during a typically slow season for the elect..

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NZX 50 hits record on growth hopes

New Zealand shares rose on Friday, nudging the NZX 50 Index to a new record. Investors continued to bid up the future earnings potential of Diligent Board Member Services and Xero. Sky Network Tele..

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$A rallies as commodites, stocks rise

The Australian dollar has risen to its highest point in a week as commodity prices and share markets rally. At 1200 AEST on Friday, the local unit was trading at 103.30 US cents, up from 102.46 cen..

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Westfield board gets shake-up

Westfield Group's board is to be shaken up, with directors Stephen Johns and Fred Hilmer stepping down at next month's annual general meeting. Mr Johns, 65, has been involved with the shopping cent..

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GrainCorp agrees to US takeover

Australia's last listed major grains marketer, GrainCorp, is set for foreign takeover, following the likes of AWB and ABB Grain.GrainCorp has reached conditional agreement to sell to US-based global f..

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US stocks end higher

US stocks have finished a volatile trading session higher following improved jobless claims data and a mixed bag of corporate earnings. The Dow Jones Industrial Average added 24.50 points, or 0.17 ..

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RBA to invest in Chinese yuan

The Reserve Bank of Australia plans to spend up to $2 billion on Chinese yuan as the currency gains increasing importance in financial markets. RBA deputy governor Dr Philip Lowe on Wednesday said ..

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Billabong extends Sycamore talks

Troubled surfwear retailer Billabong has extended its exclusive takeover talks with the Sycamore consortium. Billabong entered into 10-day exclusive talks with the consortium, comprised of the reta..

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Australian share market closes higher

The Australian share market has closed higher, boosted by a 10 per cent rise in the shares of Woodside Petroleum, which announced a $520 million return to shareholders. The rush to buy Woodside sha..

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Alchemia in deal with AstraZeneca

Drug developer Alchemia could reap up to $240 million in milestone payments in a deal with global biopharmaceutical firm AstraZeneca to search for disease-treating molecules. Alchemia will provide ..

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Expect slow house price rises – RBA

Australia's transition to a low-inflation economy means slower increases in housing prices and more occasions when they are falling, according to a top central banker. The head of the Reserve Bank ..

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Newcrest axes jobs as sector faces cuts

Australia's mining sector is facing more job losses and a halt on investment after Newcrest Mining flagged cuts to its workforce.After last week's dramas when the gold price plummeted at record rates ..

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