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Business

Breaking news business

Chevron posts $1.5b loss in Q2

8:06am Chevron Corp's chairman says its $US1.5 billion second quarter net loss reflects lower oil prices and "ongoing adjustment to a lower oil price world".

Dollar slides on US GDP, Japan bonds fall

Herbert Lash 8:06am Weak US economic growth data knocked down the dollar and yields on US government debt as investors bet the Fed will hold off hiking rates.

Tech shares boost Wall St to a record

Noel Randewich 8:06am The S&P 500 has touched a fresh intraday high as technology gains pushed Wall Street higher.

SABMiller backs AB InBev offer

Martinne Geller 8:06am The deal between SABMiller and AB Inbev, worth STG79 billion ($A138.62 billion), remains to be voted on by shareholders.

Big data car pool a traffic jam saver

Andrew Leeson Embracing big data and future technologies will be the key to freeing Australia's roads from gridlock, according to government and industry.

Vodafone adds customers, cuts loss

Peter Trute Third-ranked mobile carrier Vodafone Hutchison Australia says customer numbers and earnings are up and the carrier has reduced its half-year net loss.

Weak earnings, few shocks for companies

Prashant Mehra Australian companies' earnings are looking weak for the coming reporting season but are not likely to hold too many negative surprises, analysts say.

ANZ looking at share trading platform sale

ANZ says it has issued an information memorandum as it explores options for ANZ Share Investing that could include selling it.

Microsoft making additional job cuts

Microsoft is cutting an additional 2,850 jobs in its loss-making smartphone business.

Murray Goulburn loses Woolworths deal

Murray Goulburn Co-operative has lost a tender worth $108 million a year to manufacture and pack a range of its private label products for Woolworths.

RBR and Site eye Mozambique training

RBR Group will partner with Site Group International to develop technical training services to Mozambiques emerging resources sector.

Freedom Foods bags Woolies UHT deal

Freedom Foods has announced it will supply Woolworths with UHT milk for its own-brand range.

Home prices rose 0.7 pct in July

Garry Shilson-Josling, Economist Capital city housing prices rose 0.7 per cent in July, driven by Sydney and Melbourne, according to a preliminary estimate from Corelogic.

Origin FY16 revenue up 15 pct on APLNG

Origin Energy has posted higher revenue and a jump in production, helped by the start of its APLNG project during the year.

ResMed annual profit flat at $US352m

Trevor Chappell ResMed, which makes products to treat sleep disorders, has reported a flat annual profit of $US352.4 million.

CIMIC unit gets $250m Telstra contract

Telecoms provider Visionstream, in which CIMIC holds 50 pct stake, has secured a $250m wideband services contract from Telstra.

Carter Holt loses leaky school legal bid

The New Zealand Supreme Court says Carter Holt Harvey can't get out of a leaky buildings claim because of a 10-year limitation period on claims.

Bupa, HBF sign up to nib health directory

Health insurers Bupa, HBF and nib have agreed to participate in the Whitecoat online health directory and customer review website.

James Hardie CEO takes control of US unit

James Hardie executive vice president Ryan Sullivan has left the company.

Murray Goulburn loses $108m Woolies deal

Trevor Chappell Dairy co-operative Murray Goulburn says it will lose $108 million in annual revenue from the loss of a contact with Woolworths.

International oil prices fall

Oil prices fall close to two per cent

Stocks to watch

Stocks of interest on the Australian share market

Toyota's vehicle sales fall behind VW

Toyota loses its top-sales crown to VW, which has sold the most vehicles around the world so far this year despite an emissions cheating scandal.

Finance News Update, what you need to know

Finance News Update, what you need to know

International markets roundup

News from the world's major stock markets

Bank of Japan brings kiwi back to earth

Jonathan Underhill The New Zealand dollar fell against the yen after the Bank of Japan announced more modest monetary stimulus measures than some analysts were expecting.

Alphabet's 2Q earnings soar despite losses

Alphabet has earned $US4.9 billion during the April-June quarter, a 24 per cent increase, despite rising losses from its "moonshot" projects.

Aust market up for fifth straight session

Trevor Chappell The Australian share market has managed a tiny gain - its fifth in a row - despite disappointing economic stimulus measures from the Bank of Japan.

$A slips against greenback, yen

The Australian dollar fell on Friday as the yen gained in the wake of BoJ stimulus announcements.

Amazon's 2Q revenue beats estimates

Amazon's quarterly revenue surged by a third, beating estimates, as its cloud services unit delivered blockbuster growth.

British PM May reassures Poles in UK

Poles living in the UK are welcome, despite some reports of hostility following the Brexit vote, British Prime Minister Theresa May says.

Average US 30-year mortgage rate higher

Mortgage giant Freddie Mac says the average for the US benchmark 30-year fixed-rate mortgage rose to 3.48 per cent from 3.45 per cent last week.

AstraZeneca says 2Q earnings fell 22%

AstraZeneca's core operating profit dropped to $US1.41 billion from $US1.81 billion in the second quarter of 2015.

Brexit shockwaves hit UK consumers

Just over a month after the referendum, the latest signals of an economic slowdown are likely to fuel expectations of action, including a rates cut.

Shell says 2Q earnings fell 72 per cent

Low oil prices continue to challenge the profitability of the business, Royal Dutch Shell says.

Boeing's iconic 747 could come to an end

The era of the 'Jumbo Jet' could soon come to an end after falling orders and pricing pressures.

Henderson profit drops 41 per cent

Trevor Chappell Uncertainty created by Britain's vote on its EU membership has had a big impact on the half year profit of asset manager Henderson Group.

Temple & Webster back on track: CEO

Petrina Berry The acting chief executive of online furniture and homewares retailer Temple & Webster says a turnaround is underway.

Challenge for Telstra post-NBN: Moody's

Trevor Chappell Ratings agency Moody's says Telstra will find it challenging to totally make up lost earnings after the completion of the NBN rollout.

Brexit shockwaves hit UK economy

The Brexit shockwaves have hit the UK economy, affecting consumer confidence, wages and construction, with the central bank expected to cut interest rates.

Asciano to delist Friday after takeover

Rail and ports giant Asciano has received court approval for its takeover scheme, clearing the way for its exit from the share market.

St George confirms nickel-copper sulphides

St George Mining has confirmed favourable geology for massive nickel-copper sulphide mineralisation from the unexplored Investigators prospect.

ImpediMed and Mayo Clinic work together

ImpediMed will work with Mayo Clinic to advance new solutions for its fluid status and body composition monitoring technology.

PAS Group sells Metalicus business

PAS Group will sell its Metalicus business to the General Pants Group.

BHP makes US$1.1b-$1.3b Samarco provision

BHP Billiton will recognise a provision in the range of US$1.1 billion (A$1.46 billion) to US$1.3 billion for the Samarco operations.

Fed caution hits US dollar as BoJ meets

The yen has notched its fourth rise in six days on news that Tokyo had unveiled a surprisingly large Y28 trillion stimulus package.

Metalicity to earn US$20b at Admiral Bay

Australian resource development company Metalicity has delivered a positive scoping study for its Admiral Bay zinc project in northwest Australia.

Dexion drags GUD Holdings into the red

Andrew Leeson GUD Holdings Limited has posted a loss of $43 million after an impairment to its storage equipment business Dexion.

Virgin Australia to post $225m loss

Virgin Australia's plans to streamline its fleet of aircraft and improve its ongoing financial performance will push it into the red for 2015/16.

BHP's Brazil disaster costs climb further

Prashant Mehra BHP Billiton will book a charge of up to $US1.3 billion in its 2015/16 accounts for the Samarco mining disaster, plus direct costs of $US100 million.

Twitter still struggling to grow

Twitter is still struggling to grow as its rivals such as Facebook race ahead, dogged by the problem of adding users and attracting advertising.

Macquarie expects another $2b profit

Macquarie Group expects its next full year profit to be broadly in line the record $2.06 billion posted in the year to March 2016.

International oil prices tumble

Oil prices have tumbled with WTI dropping 2.3 per cent and Brent down 3.1 per cent, amid higher than expected inventories.

Aluminium pares losses to close unchanged

Aluminium has closed unchanged after paring early session losses, while copper fell on supply concerns.

Gold gains on Fed statement

Gold prices have risen after the Federal Reserve kept its key rate on hold and said near-term economic risks had diminished.

Facebook shares hit record high

Facebook's share price rose to a record high in after-hours trading after its quarterly profit and revenue beat Wall Street estimates.

International markets roundup

News from the world's major stock markets

Finance News Update, what you need to know

Finance News Update, what you need to know

Stocks to watch

Stocks of interest on the Australian share market

Yen slips, US interest rate unchanged

Herbert Lash A large stimulus package announced by Japan prompted the yen to ease against the US dollar while the Fed left interest rates unchanged.

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