Latest Finance News



Jobless rate to stay just short of 6%

Jobs growth is still sluggish and the unemployment rate is expected to remain a little under six per cent for the coming months. Official labour force figures will be released on Thursday, and the ..

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Metcash reverses split of food business

Retailer Metcash is splitting its food and grocery business into two, reversing a 2012 decision to merge the operations. Metcash's supermarket business, which operates IGA supermarkets and the No F..

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Harvey Norman stores fined

Four Harvey Norman franchisees have been fined for misleading consumers about exchanges or refunds for damaged or faulty goods. The Federal Court ordered fines totalling $116,000 be paid by the ope..

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PanAust downgrades earnings target

Shares in Laos-focused copper and gold producer PanAust have slumped after the company said full year earnings will be at the lower end of its target range due to higher costs.While PanAust expects co..

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Telecom sells AAPT for $450M

Telecom Corp has sold its Australian AAPT unit for $450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would go for. The Macquarie-manag..

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Shareholders vote to demerge Amcor firms

Shareholders in global packaging company Amcor have overwhelmingly voted to separate its packaging distribution business into a new company, Orora.Some 99.79 per cent of votes cast were in favour of h..

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Investors wipe $4.2bn from QBE’s value

Insurer QBE insists it can make its disastrous US business a success after taking a near $1 billion hit and watching its shares plunge.The company, Australia's largest insurer by market value, on Mond..

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US stocks surge on upbeat jobs report

US stocks ended sharply higher Friday after a strong jobs report fuelled expectations that the Federal Reserve will begin to reduce its huge stimulus soon. The Dow Jones Industrial Average gained a..

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Australian shares close lower

The Australian share market fell heavily in afternoon trade after starting the day flat. Business news was marked by the dramatic descent of national airline Qantas, which flagged a big financial l..

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Cuts to Pacific tuna fishing likely

Conservationists and fishing industry representatives have expressed confidence they are close to agreement on cutbacks in the lucrative tuna fishing industry in the Pacific. Amid fears about the d..

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Govt should back Virgin: Borghetti

Any federal government support given to Qantas should also be offered to Virgin Australia, Virgin's chief executive John Borghetti says. In an open letter to the federal government, Mr Borghetti on..

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Joyce says he has Qantas board backing

Qantas boss Alan Joyce insists he has the backing of the board, despite the airline's expected record first half loss.While politicians have called for Mr Joyce's head after five tumultuous years at t..

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Australian shares open lower

The Australian sharemarket has opened slightly lower with overnight falls in overseas markets offset by strong commodity prices. Strong US economic data on employment numbers and new home sales wei..

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US economy growing steadily: Fed survey

A Federal Reserve survey shows the US economy continues to grow steadily, with gains in all regions and most industries. The Fed's regular Beige Book report, which will feed into its policy meeting..

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EU slaps record fines on banks

The European Union has imposed a record 1.7 billion euros ($A2.5 billion) in fines on six institutions for rigging key interest rates that affect vast sums of money around the world. The sanction c..

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Newsweek to resurrect print edition

International current affairs magazine Newsweek plans to relaunch its print edition in early 2014, just over one year after ceasing publication to focus on its website, the New York Times has reported..

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Atlas close to signing for 60% of 2014

Pilbara iron ore miner Atlas Iron says it's close to finalising contracts for around 60 per cent of next year's production after clinching some new deals with customers thanks to strong demand. Atl..

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