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Business

Breaking news business

LinkedIn shares plunge almost 44% in US

11:26am LinkedIn shares have fallen almost 44 per cent after it forecast slower growth this year and said it was discontinuing a new online advertising system.

Obama claims victory after employment rise

Ayesha Rascoe and Roberta Rampton President Barack Obama has made a rare appearance in the White House briefing room after jobs data showed US unemployment at an eight-year low.

Britain's FTSE slips on US uncertainty

Kit Rees London's FTSE 100 has closed down 0.9 per cent following a US jobs report which disappointed market consensus.

Nasdaq records lowest close since 2014

All three main US indexes have closed lower for the week, with the Nasdaq recording its lowest close since October 2014.

VW postpones 2015 results, AGM

VW is delaying the publication of its 2015 results as the German carmaker's bosses discuss how to incorporate provisions for its emissions testing scandal.

US unemployment rate at 8-year low

Lucia Mutikani The US unemployment rate was at 4.9 per cent last month, the lowest since February 2008, according to the Labor Department.

US trade deficit widens as exports fall

The US trade deficit grew by 2.7 per cent in December to $US43.4 billion, while November's trade deficit was revised down.

Gold mine to fry in 46 degrees next week

Newcrest Mining's Telfer gold mine in Western Australia is expected to reach 46 degrees next week as a heat wave sweeps across the state.

Perth house prices set for 3-5% falls

Kim Christian House prices in Perth are tipped to fall around 3-5 per cent this year as big resources companies continue to shed staff and the economy falters.

Telstra buys more spectrum for $190m

Telecom giant Telstra has spent $190 million on buying more spectrum to improve its mobile network.

Foxconn CEO meeting with Sharp execs

Sharp says it is focusing on Foxconn's takeover bid over a rival offer from a Japanese state-backed fund.

RBA watching data, rate cut an option

Garry Shilson-Josling, AAP Economist A cut remains an option but the RBA prefers to keep the cash rate steady as it waits to see how the jobs market and global economy pan out.

Rusting ocean liner could be restored

A cruise company has announced plans to refurbish the historic SS United States at a cost of at least $US700 million.

Asciano takeover battle drags on

Asciano and the competition watchdog say they need more time to consider rival takeover proposals for the ports and rail operator.

'Trust us', says NBN boss

Lilly Vitorovich NBN Co vows to connect 8 million homes and businesses to the nation's new broadband network by 2020.

Genworth FY profit down 30 pct

Mortgage insurer Genworth has posted a 30 per cent drop in full year profit to $228 million.

US stocks rise for second day

The US dollar index has fallen for a fourth day on the latest batch of soft US data, dampening expectations for rate rises this year.

Whitehaven defies falling coal prices

Prashant Mehra Miner Whitehaven Coal expects to improve its financial position as it delivers improved margins on each new tonne of coal.

Construction starts new year on back foot

The construction industry has slipped again in the first month of 2016 following a dramatic drop in apartment building.

Viacom names CEO Dauman as chair

Chief Executive Officer Philippe Dauman is the new executive chairman of Viacom, replacing Sumner Redstone.

Aust bonds lift on poor local retail data

The Australian bond market in stronger after the release of poor domestic retail sales data for Decemeber.

LinkedIn shares tumble on weak forecast

LinkedIn has reported a loss of $US8.4 million ($A11.69 million), compared with a $US3 million profit a year earlier.

REA half year profit up 28%

Petrina Berry REA Group has reported a strong lift in its half year earnings as its Australian customers pay more to list properties on realestate.com.au.

News Corp cuts newspaper costs on 2Q drop

Stuart Condie Revenue at Rupert Murdoch's News Corp has fallen for a fourth straight quarter and the media giant is cutting costs at its Australian and UK newspapers.

Stocks to watch on Friday

Stocks of interest on the Australian Securities Exchange on Friday

Commodities markets summary

Commodities news from around the world

International markets roundup

News from the world’s major stock markets

$A up ahead of US jobs numbers

The Australian dollar has continued to gain ground against the greenback, despite disappointing local retail figures.

Market ends weak with modest fall

Lilly Vitorovich The local share market has closed slightly lower, hurt by financial and retail stocks after poor earnings and retail data.

Mattel, Hasbro hold merger talks - reports

Mattel and Hasbro shares have soared after it was reported that the US toymaking giants have held merger talks.

Ryanair passenger numbers soar in January

Some 7.5 million people used Dublin-based budget carrier Ryanair in January, up from six million during the same month in 2015.

Silly season retail trade falls flat

Lucy Hughes Jones Retailers were banking on bumper sales last December, but the silly season did little to help shoppers splurge.

US factory orders fell sharply in December

US factory orders dropped 2.9 per cent in December with full-year orders down 6.6 per cent, the first annual fall since 2009.

Average long-term US mortgage rate falls

For the fifth straight week, the average long-term US mortgage rate has fallen/ sliding to 3.72 per cent.

US productivity falls sharply in Q4

US productivity fell at an annual rate of 3 per cent in the fourth quarter of last year, the biggest quarterly decline in nearly two years.

Bank of England cuts growth outlook

David Milliken and Ana Nicolaci da Costa Britain's central bank has forecast the economy to grow 2.2 per cent this year and 2.3 per cent in 2017.

Applications for US jobless aid rise

The US Labor Department says weekly applications for jobless aid rose 8,000 to a seasonally adjusted 285,000 last week.

US company tests possible diabetes cure

A pioneering stem cell treatment may be a breakthrough in the long battle against the life-threatening Type 1 diabetes disease.

Australian companies 'open to cyber crime'

Stuart Condie Many small and medium Australian businesses do not properly protect their data and then cave to demands from cyber criminals who hijack their systems.

Downer trims FY guidance as profit slips

Prashant Mehra Engineering group Downer EDI has posted lower first half profit because of weakness in its mining services division, and has trimmed full year guidance.

ChemChina offers $US43b for Swiss giant

ChemChina is making a bid for Syngenta in what would be the biggest-ever foreign acquisition by a Chinese company.

Dick Smith 'has been underpaying workers'

Stuart Condie Dick Smiths' receiver has discovered that as many as 3,200 current and former employees have been underpaid their annual leave loading entitlements.

Businesses upbeat prior to market rout

Marty Silk and Lucy Hughes Jones Australia's economic environment outlook remains positive, but global uncertainties continue to pose the greatest risk to businesses.

Virgin posts strong second quarter profit

Petrina Berry Virgin Australia says its underlying profit before tax in the three months to December 31 rose 32.2 per cent to $73 million.

South32 cuts 620 jobs, says more to come

Kim Christian South32 will slash 620 jobs and says there's more jobs pain ahead at three operations in Australia amid a dismal commodity price outlook.

Ansell shares plunge on earnings downgrade

Ansell's market share has been dented as investors were disappointed by the company's earnings downgrade.

Yum's sales mixed in China, climb in US

The owners of KFC and Pizza Hut have reported mixed quarterly results for its troubled China unit but improved sales in the US.

AGL to exit gas production as prices slump

Prashant Mehra Energy provider AGL has made the expensive decision to quit gas exploration and production, including several controversial CSG projects.

Computershare to buy Capital Markets

Computershare has agreed to buy US-based Capital Markets Cooperative for $US71.2 million, subject to regulatory approval.

Tabcorp for live online betting if legal

Trevor Chappell Tabcorp would offer online live sports betting if it were legal; otherwise, it wants the federal government to make it clear that it is currently illegal.

Aust bonds lower as oil markets rally

A global oil price rally has led investors to flock to riskier assets at the expense of the Australian bond market.

ECB looks at payments by phone numbers

The ECB is looking at how to overcome the legal hurdles to enabling people to transfer money using phone numbers instead of account numbers.

Macquarie still on track for record profit

Shares in Macquarie Group have fallen heavily despite the investment group's unchanged financial forecasts.

Stocks to watch on Thursday

Stocks of interest on the Australian Securities Exchange on Thursday

Commodities markets summary

Commodities news from around the world

International markets roundup

News from the world’s major stock markets

NZ dollar spikes after RBNZ speech

Tina Morrison The NZ dollar almost hits 67 US cents as foreign traders read a lot into Reserve Bank governor Graeme Wheeler's first speech of the year.

Aust share market up two per cent

Trevor Chappell Energy and resources stocks have led the Australian share market two per cent higher in the wake of a strong lift in oil prices.

$A rises as commodities rally, $US falls

Marty Silk The Australian dollar has risen amid a commodities rally and the US dollar being "absolutely smashed" following the release of disappointing economic data.

UK's Lloyds bank to cut 1585 more jobs

Shares in Lloyds have fallen after the British bank said it would cut 1585 jobs and close 29 branches.

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