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Business

Breaking news business

European stock markets fall at open

6:02pm European stock markets have dropped at the open, with London's FTSE down 0.40 per cent to 6,593.78 points, as turmoil over the Greek crisis continues.

ASX manages only modest gains for 2014/15

Greg Roberts 5:33pm Australian share market has managed a modest 1.2 per cent gain for the 2014/15 financial year, underperforming the booming property sector.

Tokyo stocks close up 0.63%

6:02pm Tokyo stocks have closed up 0.63 per cent, recovering from sharp losses in the previous session, despite the impending Greek default.

Experts dispel fears of house price crash

Garry Shilson-Josling, AAP Economist 2:57pm Economists predict house price growth will slow and stall rather than slump.

Property investor loans hit threshold

Garry Shilson-Josling, AAP Economist 1:46pm Loans to housing investors rose again in May, taking annual growth to APRA's threshold of 10 per cent.

Oil and gas set to lead growth in 2015/16

12:40pm Revenues for the oil and gas, childcare and beef sectors are set to lift in 2015/16 while ceramic product makers, credit unions and banks brace for falls.

Kimberley Diamonds poised for restructure

12:02pm WA-based miner Kimberley Diamonds has placed its shares in a trading halt ahead of an announcement about a restructure and capital raising.

NZ business confidence turns negative

12:02pm For the first time since Christchurch's February 2011 earthquake, more New Zealand businesses are pessimistic than optimistic about the economy.

Ireland says door remains open for Greece

12:02pm Irish PM Enda Kenny, who led Ireland through years of austerity, says it's not too late for Greece to return to the negotiation table.

New home sales down 2.3% in May

11:11am New home sales have dropped for the first time in 2015 on the back of a slide in sales of detached homes, the HIA says.

NZ investor may exit Slater and Gordon

4:57pm NZ-based Milford Asset Management is reviewing its stake in Slater and Gordon amid growing concerns about the Australian-based law firm.

Qantas lifts number of passengers

9:56am Qantas lifted its total passenger numbers one per cent in May, despite a 2.6 per cent slide in the volume of travellers on its domestic business.

Consumer confidence hits 18-month high

9:33am Consumer confidence lifted two per cent last week, taking it to an 18-month high, on the back of reduced concern about the jobs market, ANZ says.

Bonds weaker as focus remains on Greece

4:44pm The local bond market is slightly weaker as the global focus is squarely on Greece and its possible exit from the euro zone.

Global stock markets slump

10:02am Global stocks have slumped over fears that Greece may default on its international creditors and exit the eurozone.

Kathmandu shares soar on takeover bid

Petrina Berry 4:57pm New Zealand retailer Briscoe Group has made a surprise bid to take control of outdoor wear chain Kathmandu.

Woolworths to sell Thomas Dux: report

8:02am Gourmet produce chain Thomas Dux has reportedly been put up for sale by owner Woolworths.

Stocks to watch at close on Tuesday

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

Commodities markets summary

7:49am Commodities news from around the world

Google gets more time to answer EU charge

8:02am Internet giant Google has been given more time to answer Brussel's allegations that it abuses its search engine's market dominance.

Aust dollar rises in cautious trade

6:02pm The Australian dollar has edged higher despite cautious traders.

Fitch cuts rating for 4 Greek banks

9:34am International credit ratings agency has cut its ratings on four major Greek banks to 'restricted default'.

Disney merges divisions

8:02am The Walt Disney Co is merging its consumer product and interactive divisions "in response to changing consumer preferences".

International markets roundup

7:00am News from the world’s major stock markets.

Aust stocks close on positive note

Trevor Chappell 5:10pm The Australian share market has made a small gain of just over one per cent for the finacial year.

Puerto Rico girds for bad news on debt

8:02am Puerto Rico's governor says the US territory can't pay its $US72 billion debt and is close to defaulting.

Eurozone in panic as Athens teeters

3:25pm Thousands have taken to Greece's streets to support the government's opposition to the latest debt deal from its creditors.

Aust market set for further falls

10:02am The Australian sharemarket could slide into correction territory as Greece's debt crisis rolls on.

Aust fleet business among GE selloffs

2:32pm General Electric's Australian fleet enterprise is among the businesses the US company is selling to Element Financial Corp for $US6.9 billion.

Brazil's Petrobras slashes investment plan

8:02am Brazil's state oil giant Petrobras has cut its multi-year investment plan by 37 per cent as it tries to recover from a corruption scandal.

European stock markets plunge at open

European stocks are down as a result of the Greek crisis.

Novartis buys Spinifex for $US200m plus

Novartis will pay $US200 million for Spinifex, plus undisclosed "significant" milestone payments.

Cabcharge allows others to process cards

Cabcharge cards will be able to be processed by other financial firms in taxis under new changes agreed to by the ACCC.

Ansell cost cuts to include jobs

Global health and safety product maker Ansell is cutting costs to help offset adverse currency movements and economic uncertainty.

Telstra told to cut network access prices

The competition watchdog wants Telstra to cut its network access fees for other phone and internet providers, but the telco giant disagrees.

Stocks to watch at close on Monday

Stocks of interest on the Australian Securities Exchange at close on Monday

QMS Media bucks share market falls

Outdoor media advertising company QMS Media has had a stellar debut despite one of the worst trading sessions in recent years.

Aconex shares surge on software deals

Cloud collaboration software firm Aconex has seen its shares surge after signing deals with Lend Lease and John Holland.

Suncorp Life boss to stand down

Suncorp Life's chief executive Geoff Summerhayes has announced plans to step down and will be replaced by Vero NZ boss Gary Dransfield.

Japan factory production down 2.2 per cent

A plunge in Japan's industrial production in May points to a contraction in GDP this quarter, economists say.

Grexit fears wipe $40b from sharemarket

Evan Schwarten Nearly $40 billion has been wiped from the Australian share market after talks between Greece and its creditors broke down.

House prices set to cool from 2017

Economic forecaster BIS Shrapnel expects house prices will start to cool across the country, including Sydney and Melbourne, from 2017.

GWA to cut more jobs in latest restructure

Trevor Chappell More jobs are set to go as GWA continues to restructure and sell non-core businesses to focus on kitchens, bathrooms, doors and security.

Aust bonds firm as Greece debt talks stall

Australian bond futures prices firmed amid anxiety over the weekend breakdown of talks over Greece's debt crisis.

NZ employment confidence on the wane

Paul McBeth Kiwis' view of the labour market has fallen to its lowest level in two years as many workers are not expecting wages to rise over the year.

More market pain for Slater and Gordon

Evan Schwarten Law firm Slater and Gordon has suffered another hefty share price plunge on news of problems with its UK accounts.

Commodities markets summary

Commodities news from around the world

Vietnam to end foreign investment limits

Vietnam has moved to end limits on how much foreigners can invest in some locally-listed companies.

Greek debt crisis puts $A under pressure

Drew Cratchley The Australian dollar touched a two month low as the uncertainty created by the Greek debt crisis deterred investors away from riskier assets.

Shares plunge on Greek exit threat

The Australian share market has suffered one of its worst one-day falls in three years as the risk of a Greek debt default spook investors.

NZ dollar falls to fresh five-year low

Tina Morrison After Greece and its creditors failed to reach a deal, investors exit riskier assets in favour of safe havens sending the NZ dollar to new five-year low.

Deed would keep Trump Plaza shut for 10yrs

Wayne Parry Atlantic City's former Trump Plaza could be shut for at least 10 years as a tax-saving measure after Trump Entertainment Resorts files a deed restriction.

International markets roundup

News from the world’s major stock markets.

Crisis-hit Greece imposes capital controls

Greece's banks will be shut on Monday and capital controls imposed, Prime Minister Alexis Tsipras says.

IMF says ready to help in Greek crisis

IMF chief Christine Lagarde says the fund is ready to provide assistance "as needed' as the Greek financial crisis unfolds.

Property market forecast to ease by 2017

Australia's house prices are expected to begin declining in 2017, economic forecaster BIS Shrapnel says.

ECB puts no fresh cash into Greek banks

The ECB says it will not increase help to Greek banks but will keep open its emergency cash lifeline to the debt-hit country.

eBay-PayPal break-up set for July

Online payments fiirm PayPal will start trading as an independent company in the US on July 20 after eBay's board approved the planned spin-off.

Nike lifts Dow but Nasdaq drops

Sports gear giant Nike has boosted the Dow, while the Nasdaq has fallen into the red thanks to disappointing results from Micron Technology.

Oil prices flat awaiting Greece, Iran outc

Oil prices have fallen amid fresh concerns over the Greek bailout deal.

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