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Business

Breaking news business

NSW and Vic economies charge ahead

2:44pm The economies of NSW and Victoria are powering ahead while the rest of the nation falls behind, an ANZ report has found.

Online retail sales sink in July

1:57pm Australian online retail sales have dipped 1.4 per cent in July, following on from a significantly stronger month in June aided by budget-related tax cuts.

Wine boss' annual pay hits $4.5m

1:16pm Treasury Wine Estates CEO Michael Clarke was paid almost $4.5 million last year, as the company returned to profitability.

Strong govt spending adds to growth

Garry Shilson-Josling, AAP Economist 11:55am Public sector spending rose 2.6 per cent in the June quarter and will add 0.6 percentage points to economic growth.

Current account blows out in June quarter

1:04pm The current account deficit blew out to $19b in the June quarter, seasonally adjusted, from $13.5b in the previous three months.

Wollongong Coal axes 80 jobs after loss

12:44pm Wollongong Coal has axed 80 jobs and suspended operations at its Rusell Vale Colliery as the company extends its annual financial loss to $200 million.

Metgasco to sue after talks with NSW stall

Sophie Tarr 12:37pm Energy company Metgasco is taking the NSW government to court - and says it is counting on police protection as it gets back to work in Bentley.

Qantas lifts passenger numbers in July

10:43am Passenger numbers lifted by 2.1pct for Qantas in July, with most of the growth driven by a 5.3pct rise in its international services.

OceanaGold raises production estimates

10:04am Full control of Waihi Gold Mine will boost OceanaGold Corp's production and reduce its unit cost base, the Melbourne-based miner says.

Atlas' Brinsden move to non-exec role

12:04pm Atlas Iron has reshuffled its senior executive team, shifting former boss Ken Brinsden, in a move that should save the iron ore miner about $1 million.

Consumer confidence shows resilience

9:36am Australian consumer confidence has shown resilience in the face of turbulent global financial markets, lifting slightly in the past week.

Housing, food drive manufacturing growth

10:04am Australia's manufacturing sector expanded for a second month in August, driven by growing residential building activity and demand for food and beverages.

Marchionne presses GM on merger talks

10:04am Fiat Chrysler Automobiles chief Sergio Marchionne says it would be "unconscionable" for the No3 and No7 not to talk about a merger.

China, oil prices drag Aust bonds down

9:04am Australian bond futures prices have been dragged down by mounting fears about a US interest rate hike, a rebound in oil prices and concerns over China.

Myer's $221m post-profit slump share issue

Stuart Condie 9:52am Myer is pinning its hopes on a Topshop-led revamp to win over customers after full year profit slumped by 69.7 per cent.

India progresses Google antitrust probe

10:04am The findings of a three-year investigation into whether Google has abused its dominance in India have been forwarded to it and the competition commission.

Stocks to watch on Tuesday

12:13pm Stocks of interest on the Australian Securities Exchange on Tuesday

Commodities markets summary

7:55am Commodities news from around the world

Shanghai copper slips on China concerns

8:03am Shanghai copper prices slipped as demand concern continues amid China's economic slowdown, while LME markets were closed.

US dollar dips as investors seek Fed clues

8:03am The US dollar has capped off a month of general underperformance with another drift lower, analysts say.

Greek retail spending drops 12.7%

8:03am Greece's retail spending as dropped 12.7 per cent in the past three months, year-on-year, with takings plunging more than 17 per cent in August.

Weak China data sends market lower

12:16pm The share market has plunged on weak economic data from China.

$A dips amid Chinese and domestic data

12:28pm The Australian dollar has edged lower after approvals for the construction of new homes bounced back in July but Chinese manufacturing activity contracted.

US lowers estimate of crude oil output

8:03am Crude oil prices have been sent sharply higher after the US government cut its estimate of domestic oil production.

Building approvals tipped bounce

3:35am Economists expect approvals for the construction of new homes to have risen three per cent in July.

RBA leaves rates unchanged

2:46pm The Reserve Bank has left the cash rate at a record low of two per cent, noting recent market volatility but also a strengthening US economy.

Gulf stocks slide in August over oil price

8:03am A sharp decline in oil prices and China's economic woes helped prompt Saudi stocks to dive 17.2 per cent in August and other Gulf bourses to dip.

Businesses confident but won't spend

1:45am The latest Dun and Bradstreet's survey shows growing business optimism but a reluctance to spending more on their firms.

Companies at crossroads

Drew Cratchley 3:36pm The latest profit results from Australia's top companies show it is getting harder to generate income due to the slowing economy.

Aust Ethical expects strong year ahead

Trevor Chappell Australian Ethical Investment says its funds under management are up 32 per cent to $1.17 billion.

Strong wages growth to help economy

Jason Cadden and Lucy Hughes Jones Company profits fell 1.9 per cent in the June quarter and estimated business inventories were flat, official data shows.

Economic growth forecast to soften

Lucy Hughes Jones The economy is tipped to remain sluggish, with investment and net exports detracting from growth while consumer spending is expected to hold up.

New home sales fall in July

New home sales may have peaked in April, but the subsequent downward trend is very mild and new home construction is expected to remain healthy.

Vocation posts $300m loss after scandal

Stuart Condie Vocation's net loss grew to $300.3 million after a $240.7m impairment in goodwill and intangible assets related to its substandard practices scandal.

Inflations stays below 2% all year

Inflation was 1.7 per cent in August, and has stayed below two per cent all year, TD Securities/Melbourne Institute inflation gauge shows.

Milk giant tips dairy price recovery

Murray Goulburn says the markets for dairy commodities have reached a low and supply is set to contract.

Bradken ends merger talks with Chile firm

Stuart Condie Bradken will not renew a 60-day exclusivity period with Magotteaux Group because, it says, the near-term benefits of a merger were unclear.

Ansell announces $US100m buyback

Ansell plans a $US100 million share buyback and the glove and condom maker is also actively looking for strategic acquisitions.

Transfield to continue on Nauru and Manus

Transfield Services has announced that it is the preferred tenderer to operate the government's offshore detention centres on Nauru and Manus Island.

Aust bonds firm as stocks fall

Australian bond futures prices are higher as equities fall on renewed concerns about the Chinese and Australian economies.

Home price rises slowed in August

Garry Shilson-Josling, AAP Economist Housing prices in the five mainland state capitals rose by about 0.5 pct in August, that's a slower gain compared to June and July.

Stocks to watch on Monday

Stocks of interest on the Australian Securities Exchange on Monday

Commodities markets summary

Commodities news from around the world

Copper steadies as Chinese stocks calm

LME bse metals mostly have risen, but tin slid and copper has remained steady after China's stock market recovered for a second day.

Cross-channel ferry services reopen

Ferry services between France and Britain have resumed following a fresh Calais blockade by protesting seamen.

Jetstar's new destinations revealed

Budget airline Jetstar has announced it will start flying from Auckland to Napier, New Plymouth, Palmerston North and Nelson.

Gold lifts after hints of Fed rise delay

Gold prices rose following suggestion that the Federal Reserve may delay a rate rise but was still on track to be more than two per cent down on the week.

International markets roundup

News from the world’s major stock markets

Alcatel-Lucent boss under fire over bonus

The head of telecoms equipment maker Alcatel-Lucent Michel Combes is being urged to renounce bonuses reportedly of 14 million euros.

Shares fall to cap worst month since GFC

Trevor Chappell Caution about an expected rate rise in the US has caused falls on Asian share markets.

$A lower after weak economic data

The Australian dollar has followed stock markets lower, weighed down by weak local data and a looming US rate hike.

Dow ends choppy day slightly lower

As fears about a global economic slowdown due to China tested sentiment, US stocks have ended a choppy day little changed.

Oil prices pump out big two-day rally

For a second straight day US oil prices have surged as the recent nose-dive was seen by investors to be overdone.

European stocks mixed after torrid week

After a turbulent week driven by worries over China's slowing growth European stocks ended mixed, getting some relief from strong data on the US economy.

Fed's Fischer: 'haven't made decision yet'

No decision has been made yet on raising interest rates at the US central bank's September meeting, Federal Reserve Vice Chair Stanley Fischer says.

Greek economy grew by 0.9% in Q2

Positive Greek economic figures have come as a surprise as the period was marked by fraught talks between Greece and its international creditors.

Battered oil and gas players enjoy lift

Kim Christian Australia's oil and gas players are enjoying share price gains after oil prices rose 10 per cent, but it may not lost.

Tokyo stocks surge more than 3%

Strong US data lifted Japanese stock more than 3 per cent as part of a global rally.

Blackmores' shares to carry on: Analyst

Warren Barnsley Shares in vitamin and supplement company Blackmores are being predicted to continue their rise past $100.

TWU slams Joyce's $11.9m pay packet

The national secretary of the Transport Workers Union has slammed Qantas CEO Alan Joyce's 11.9 pay packet.

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