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Business

Breaking news business

Garlic bread to return following recall

A national garlic bread shortage sparked by a recall of the product by a major supplier is set to ease with the favourite side returning to some retailers.

Worker management firm targets world stage

Trevor Chappell Deputy, which has developed software to simplify workforce management, has received a $US25 million ($A33 million) funding boost from a US venture capital firm.

Oroton earnings dip as sales fall 10%

Petrina Berry Oroton has disappointed investors with a weak trading update on Friday, including a 10 per cent fall in like-for-like sales for the year to date.

Santos tops FY guidance after strong Q4

Prashant Mehra Energy producer Santos has narrowly topped its guidance for output and sales for last year.

Alcoa secures power for Vic smelter

Alcoa's struggling Victorian aluminium smelter is set to fully reopen after the company inked a four-year power supply deal with AGL.

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International markets roundup

News from the world's major stock markets.

Aust share market closes lower

Trevor Chappell Australian investors spurned buying ahead of the inauguration of Donald Trump as US president.

Spending continued to recover before Xmas

Spending across the economy rose in December, with consumers and businesses starting to heal from the global geopolitical shocks of 2016, CBA says.

BHP agrees Samarco settlement timeline

BHP Billiton has reached a preliminary agreement with Brazil's federal prosecutor on the timeline to settle a civil claim over the Samarco mine disaster.

Moody's raises Fortescue rating again

Moody's has raised the credit rating of iron ore exporter Fortescue Metals one notch to 'Ba1', its second upgrade since August.

How big is Australia's love of Vegemite?

Dairy processor Bega Cheese has brought Vegemite back into Australian hands.

Bellamy's still entangled in board stoush

Petrina Berry Baby food maker Bellamy's Australia has urged shareholders to reject a move by its largest shareholder to shake up its board.

Weak job market could hinder growth

Economist says jobs growth last year was primarily for women and part-time positions, with most of the workforce wanting a full-time job or least more hours.

Dick Smith welcomes home Vegemite

Simone Ziaziaris Dick Smith says he is delighted that Vegemite has returned to the Aussie hands of Bega Cheese and will consider selling his gluten free spread to the company.

South32 on track for 2016/17 output target

Prashant Mehra South32 remains on track to hit full-year guidance despite a challenging quarter of lower production for several of its commodities.

Woodside flags drop in 2017 production

Prashant Mehra Energy giant Woodside expects to produce between 84 to 90 Mboe this year, down from its full year production of 94.9 Mboe in 2016.

CSL shares jump on profit upgrade

Investors have snapped up CSL shares after the blood products heavyweight upgraded its annual profit guidance, forecasting growth of between 18 and 20 per cent.

Yowie upbeat about Q2 despite hiccups

Multiple problems at Yowie Group's manufacturing operations adversely hit second quarter sales, but the company is still upbeat about the future.

Carsales founder to leave after 20 years

Co-founder and chief executive of carsales.com Greg Roebuck will step down in March after 20 years with the company.

Bega bites on Vegemite and cheese combo

Trevor Chappell Vegemite can again call Australia home after Bega Cheese bought it from US-based Mondelez International in a $460 million basket of products.

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International markets roundup

News from the world's major stock markets.

Aust share market slightly higher

Trevor Chappell Weakness from most of the big banks has offset much of the share market's early gains following an upbeat outlook on the US economy and a CSL profit upgrade.

EU approval for maker of medicinal pet pot

Simone Ziaziaris Medicinal cannabis company Creso Pharma, which aims to launch two medicinal cannabis pet products by April, has been registered by the EU health authority.

Unemployment tipped be flat at 5.7% in Dec

Marty Silk Economists expect the number of Australians with a job rose again in December, but the jobless rate is tipped to have remained steady.

S&P; lifts iron ore price forecasts

Prashant Mehra Ratings agency Standard & Poors has raised price targets on iron ore, zinc, and copper for 2017 and 2018.

Cameron linked to Bellamy's board ructions

Bellamy's says Kathmandu co-founder Jan Cameron and other directors involved with its biggest shareholder want to restructure the company's board.

GDP fall weighing on consumers: Westpac

Consumers' concerns about the 0.5 per cent fall in gross domestic product are keeping their confidence low, according to a new survey.

Aurizon volumes steady in December quarter

Rail freight operator Aurizon has reported slightly higher coal haulage volumes for the December quarter, while iron ore volumes have dipped slightly.

Qantas grounds 10 planes, cancels flights

Australia's biggest airline, Qantas, has cancelled some flights after temporarily grounding 10 Bombardier Q400 planes.

Stocks to watch

Stocks of interest on the Australian share market

Wesfarmers has brighter mining outlook

Wesfarmers has upgraded its earnings forecast for its coal mining business following improved production and higher coal prices.

International markets roundup

News from the world's major stock markets.

Big banks drag share market lower

Trevor Chappell Falls by the big four banks have weighed on the share market as investors show concerns about US president-elect Donald Trump's policy plans.

Theresa May signals clean break with EU

A clean break from the EU is necessary for Britain according to PM Theresa May, who still wants access to free trade with EU nations.

NBN rollout to hit halfway mark by June

Lilly Vitorovich Half of Australia's homes and businesses will have access to the national broadband network by June 30, the company in charge of the project says.

Square launches Australian online payments

Lilly Vitorovich US mobile payments group Square has boosted its Australian offering, enabling businesses to process online transactions.

Big firms embrace artificial intelligence

Trevor Chappell Large Australian companies are among those spending on artificial intelligence to boost revenue, a technology consultant says.

BAT agrees to buy Reynolds for $49.4b

British American Tobacco and Reynolds American Inc will become the world's biggest tobacco company after BAT raised its takeover offer.

Goodman Fielder jobs to go in WA, Qld

Simone Ziaziaris The company behind Wonder White and Helga's bread plans to close bakeries in WA and Queensland, potentially leaving more than 200 workers jobless.

Aust vehicle sales rise 0.3% in December

New motor vehicle sales have risen slightly in December after November's 0.6 per cent drop, according to the Australian Bureau of Statistics.

Low rates not helping first home buyers

Marty Silk Despite record low interest rates, first home buyers have slipped to just 8.7 per cent of total housing finance commitments, economists warn.

Vodafone customers hit by another outage

Mobile operator Vodafone has been hit with network dramas, only months after the carrier left customers without coverage for several hours in September.

Fortescue picks new CFO

Fortescue Metals has appointed Elizabeth Gaines, the former chief of travel group Helloworld, as its new chief financial officer.

Confidence remains robust despite dip: ANZ

Consumers are more downbeat about their own finances, but confidence levels are still high., according to an ANZ-Roy Morgan survey.

Uncertainty for Rio Tinto's copper output

Prashant Mehra Rio Tinto has maintained its 2017 iron ore production target, but a wide guidance range for copper indicates uncertainty ahead for that key division.

Stocks to watch

Stocks of interest on the Australian share market

International markets roundup

News from the world's major stock markets.

Shares fall on political uncertainty

Petrina Berry The share market has lost ground as investors play it safe ahead of major political events in the US and Europe.

Roads, bridge building to thrive in 2017

Trevor Chappell Road and bridge building is set to surge in 2017, but heavy industrial construction is set to contract, says market researcher IBISWorld.

Woolies hires Tesco exec to lead food unit

Tesco executive Claire Peters has been appointed the new boss of Woolworths Supermarkets from July 1.

NAB raises fixed home loan rates

Simone Ziaziaris NAB is increasing a range of its fixed home loan rates only weeks after rival banks Commonwealth Bank, Westpac and ANZ raised their equivalent rates.

IOT says strong interest in selfie drone

Trevor Chappell Drone developer IOT Group says its ROVA flying selfie camera has generated highly favourable customer reaction.

Sirtex shares up and down after CEO axed

Shares in liver cancer biotech Sirtex leaped 1.52 per cent and then slipped 0.57 per cent into the red before closing lower at $15.82.

Housing prices flat last week

The only capital city to experience a rise in home prices last week was Melbourne, despite the number of listings falling 4.1 per cent nationally.

Fitch downgrades Australia banking outlook

Fitch says Australian banks' strong asset quality, profitability and capitalisation could be weakened if China's growth slowed more than expected.

DUET shareholders to vote on CKI takeover

DUET Group's shareholders will vote on a $7.3 billion takeover bid from Hong Kong investor Cheung Kong Infrastructure in April.

Regis gold output rises 7 per cent in Q2

Regis Resources' second-quarter gold output puts it within the upper half of its 2017 financial year guidance and it expects that rate of output to continue.

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