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Business

Breaking news business

House prices still booming, led by Sydney

Paul Purcell 12:04am The median capital city house price grew by 10 per cent last financial year, and the boom shows no sign of slowing.

Rio Tinto confident on demand from China

Kim Christian 7:31pm Rio Tinto boss Sam Walsh has delivered a positive appraisal of global demand for iron ore, despite current price weakness.

Biotron shares soar on HIV drug data

Trevor Chappell 5:19pm Shares in Biotron have soared as the anti-HIV drug developer presented new data to an international AIDS conference in Melbourne

CBA sparks fixed rate loan war

Greg Roberts 5:14pm Australia's biggest home lender the Commonwealth Bank has sparked a price war after dropping its five year fixed home loan rate to 4.99%.

Highish inflation should not trouble RBA

Garry Shilson-Josling, AAP Economist 1:13pm An unexpectedly strong CPI result does tilt the RBA bias fractionally away from interest rate cuts and towards rate rises.

Aurizon hauls more coal despite price drop

12:17pm Aurizon shrugged off a weak coal market to move nine per cent more of the commodity in the 2013/14 financial year.

More money going into ethical investments

12:03pm Research shows more investors are pulling out of industries like tobacco and fossil fuels, demanding their money go to ethical and sustainable sectors.

Antares/Lone Star feud to continue

Evan Schwarten 11:16am The feud between Antares Energy and one of its major shareholders, US fund Lone Star, is set to continue.

Sims revamp to help boost earnings

Trevor Chappell 2:23pm Metals and electronics recycler Sims Metal hopes that changes to its business under a five-year plan will quadruple its earnings.

Five held in China expired meat scandal

Bill Savadove 8:39pm Five people who worked for a US food supplier in China have been detained over the sale of expired meat, mainly to fast food outlets, including McDonald's.

Qantas considering division split: report

10:04am Qantas is looking at a possible split of its international and domestic businesses, according to a media report.

Aussie bonds dip on higher inflation

4:50pm Stronger-than-expected inflation has reduced the chances of a rate cut, dragging Australian bond futures prices down.

BHP expects record production to continue

Kim Christian 5:09pm Mining giant BHP Billiton smashed expectations with a 20 per cent boost in annual iron ore output, and expects more growth ahead.

Higher inflation dampens rate cut chances

Belinda Merhab 3:45pm The latest inflation figures will allow the Reserve Bank to maintain its wait-and-see stance on interest rates.

Stocks to watch at close on Wednesday

4:25pm Stocks of interest on the Australian Securities Exchange at close on Wednesday

Commodities markets summary

7:47am Commodities news from around the world

Apple's fiscal 3Q earnings top analyst

8:02am Apple's $US7.7 billion third quarter earnings top analysts' expectations and the its growth prospects look brighter as it sold 35.2 million iPhones.

Microsoft 4Q earnings hurt by Nokia buy

8:02am Microsoft's fourth quarter profit is down seven per cent to $US4.61 billion, due to its acquisition of Nokia.

Aust shares hit 6-year high

Greg Roberts 5:13pm The Australian share market closed at six year highs after six consecutive days of gains

$A rises on strong inflation data

Petrina Berry 5:29pm Higher than expected underlying inflation has lifted the Australian dollar above 94 US cents.

Verizon profit rises 93% in second-quarter

Verizon's profit jumped to $US4.32 billion from $US2.25 billion, or 78 cents per share, in the second quarter.

Marlboro maker Altria's profit flat

Altria Group, the owner of Philip Morris USA, has posted flat second-quarter earnings.

McDonald's Q2 profit falls 0.7 per cent

Fast food giant McDonald's says its Q2 profit fell 0.7 per cent to $US1.39 billion.

DuPont Q2 profit climbs 3.9 per cent

DuPont's Q2 profit has climbed 3.9 per cent to $US1.07 billion in line with expectations.

Comcast Q2 earnings exceed estimates

Comcast's second-quarter earnings have exceeded expectations, rising 15 per cent to $US2 billion.

Antares board changes rejected

Shareholders in energy company Antares have rejected a move by an investor to reshuflle the company's board.

Home construction expected to lift

Petrina Berry Master Builders Australia is forecasting construction of more than 200,000 new homes will begin over the next three years.

Shares to rise despite global turmoil

Drew Cratchley Investors are taking extreme caution due to escalating global conflict, but one expert expects the local market to continue its recent rise.

Rates will be cut if needed: Stevens

Belinda Merhab and Garry Shilson-Josling RBA governor Glenn Stevens has left the door open to more interest rate cuts, saying they could fall further if they need to.

80% of exports to go to Asia by 2020

Evan Schwarten Australia is becoming increasingly integrated into Asia, with around 80 per cent of our imports to go to the region by the end of the decade.

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