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Business

Breaking news business

Ryanair says annual profits soar

6:01pm Irish budget airline Ryanair says earnings after taxation have leapt 66 per cent to 866.7 million euros.

Stricter loans to cool property market

Garry Shilson-Josling, AAP Economist 2:45pm Banks are less keen to lend to housing investors, which could help cool the housing market and give the RBA less reason to raise interest rates.

Mincor axes 50 jobs as part of restructure

4:02pm Mincor axes 50 jobs as the nickel miner restructures operations at Kambalda in response to ongoing weakness in the nickel price

UGL snares $190m BP contract

11:29am UGL and BP are setting up a joint venture that will carry out maintenance work at the fuel giant's Australian terminals.

Westpac poaches senior CBA exec

4:02pm One of Westpac's most experienced executives is leaving the bank, and will be replaced by an equally well-respected executive from rival CBA.

AGL shares rally on asset sales

Evan Schwarten 4:23pm AGL plans to sell of $1 billion worth of assets and cut costs by $200 million as part of an overhaul of its operations.

NZ trade surplus shrinks in April

10:02am New Zealand's trade surplus was $NZ123 million ($A115 million) in April, smaller than the $NZ754 million surplus in March.

Budget confidence bounce eases

9:40am ANZ/Roy Morgan's consumer confidence index fell one per cent last week, partly reversing the 3.6 per cent gain made the week after the federal budget.

Gaming firm Aristocrat's profit soars

Trevor Chappell 1:14pm Aristocrat Leisure has achieved strong half year profit growth on its expansion in the US and the growth of its online gaming products.

OzForex shares plunge despite profit rise

Evan Schwarten 4:29pm OzForex increased its full year profit by 52 per cent but its shares have dropped by 10 per cent, as investors expected more.

Bonds firmer in quiet trade

5:59pm Australian bond futures prices are firmer following poor consumer data and many offshore markets closed for public holidays.

New CEO for Cochlear

4:25pm The head of Cochlear's North American operations, Chris Smith, will take the company's top job in September.

Fortescue shares surge on Chinese whispers

Kim Christian 6:01pm Shares in Australia's third largest iron ore miner Fortescue Metals have surged on speculation China will help shore up its balance sheet as prices rise

Commodities markets summary

8:12am Commodities news from around the world.

Gold edges up on Fed rate hike hopes

8:02am Gold prices have edged higher after comments from the US Federal Reserve helpe support the US dollar.

Copper sinks to three-week low

8:02am US and UK markets were closed on Monday for a public holiday but copper prices in Shanghair fell to a three week low as the US dollar strengthens.

International markets roundup

7:35am News from the world’s major stock markets

Finance News Update, what you need to know

8:02am Finance News Update, what you need to know.

Stocks to watch on Tuesday

4:22pm Stocks of interest on the Australian Securities Exchange at close on Tuesday

Miners and banks push market higher

Drew Cratchley 5:17pm The share market has posted its fourth straight session of gains, with the miners and banks leading the way.

NZ dollar muted in quiet trading

Tina Morrison 8:02am With major markets in the US and UK closed due to public holidays, the NZ dollar holds steay against the US dollar.

$A slides as greenback strengthens

12:39pm The Australian dollar is slightly lower as the US dollar continues its run of rises.

Charter nears deal for Time Warner Cable

8:02am Sources say Charter Communications is close to buying Time Warner Cable for about $US55 billion ($A70.27 billion).

European stocks ahead at open

5:51pm London's benchmark FTSE 100 index added 0.01 per cent to 7,032.54 points when it opened after a long holiday weekend.

Oz Minerals bets on commodity cycle

Oz Minerals boss Andrew Cole says the miner is taking advantage of the current weakness in the resources sector as it hunts for new acquisitions.

Credit Suisse flags flat year for ASX

Evan Schwarten Investment bank Credit Suisse expects the Australian stock market to be roughly flat in a year's time.

Credit cardholders dip out on rate cuts

Banks are not passing on interest rate cuts to credit cardholders, according to Australia's biggest credit card comparison website.

Greenstone eyes $1bn stock market float

Insurance group Greenstone, the company behind the Choosi comparison website, is looking to raise nearly $1bn and list on the ASX in June.

Obeid's sons face legal action

Two of Eddie Obeid's sons and three businessmen involved with Cascade Coal are facing legal action over the alleged rigging of a coal licence tender.

Cairns casino looks towards improvements

The Reef Casino Trust is looking towards new marketing initiatives and a partial revamp after the abandoned takeover bid by Aquis.

Evolution acquires Cowal mine for $US550m

Evolution Mining is buying the Cowal gold mine in central west NSW for $US550m in a deal with Canada's Barrick Gold.

Shareholders feeling pessimistic

Neither cheap money nor the federal budget have prevented shareholders from feeling gloomy again.

Japan trade account returns to deficit

Stronger exports and lower energy bills have resulted in the sharp drop in Japan's trade deficit in April.

WA miners in $1.8b takeover deal

Drew Cratchley Independence Group has lobbed a takeover deal for prospective WA nickel miner Sirius Resources.

Metgasco seeks govt compensation

Coal seam gas explorer Metgasco wants the NSW govt to reach an out-of-court compensation deal following the legal battle over a drilling licence.

Tokyo stocks up 0.74% at 15-year high

The Nikkei 225 index at the Tokyo Stock Exchange added 0.74 per cent to close at 20,413.77 and a fresh 15-year high.

Small business confidence slides

The Westpac/Melbourne Institute small business index fell to its lowest level in over a year in the weeks ahead of the federal budget.

Skilled shares soar on merger talks

Workforce provider Skilled Group is back in merger talks with its rival Programmed Group, sending its share price soaring.

Australian bond futures mixed on US data

Australian bond futures prices have largely ignored signs of a pending US interest rate hike and stronger American inflation data.

Commodities markets summary

Commodities news from around the world.

Gold falls as Fed considers rate hike

Gold prices have fallen after US Federal Reserve chair Janet Yellen indicated that an interest rate hike could happen before the end of the year.

Copper prices fall on demand concerns

Copper prices have fallen amid worries about weaker demand for the metal from China.

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 on Monday

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

Corporate deals push market higher

Trevor Chappell The market has closed higher as investors take advantage of recent falls and react to several merger and acquisition deals.

NZ dollar falls after US inflation report

Tina Morrison The US dollar makes ground against the NZ dollar after signs emerge that inflation in the world's biggest economy is set to rise.

Aust $ down US rate hike outlook

Petrina Berry The Federal Reserve head's statement to expect a US interest rate hike this year has strengthened the greenback and weakened the Aussie dollar.

Negotiations on TPP in 'end-game', says US

US Trade Representative Mike Froman says a Trans-Pacific Partnership free trade zone is "very much in the end-game".

Amazon now paying tax in Germany

Amazon has reportedly started paying tax on profits from its sales to German customers in Germany instead of in Luxembourg.

Wet weather harms Aust gold production

Wet weather contributed to a seven per cent fall in Australian gold production to 69 tonnes in the March quarter, Surbiton survey says

Greece issues fresh warning on IMF payment

A Greek minister has repeated warnings that his country will not be in a position to meet its debt repayment obligations next month.

US stocks mostly up despite worries

The Dow and S&P 500 notched record closes this week before retreating a bit, while the Nasdaq ended less than three points away from its all-time high.

Dollar surges on rise in US inflation

The US dollar added more than 1.5 cents against the euro after the US Commerce Department reported that core consumer prices jumped 0.3 per cent.

US stocks dip as Yellen predicts rate hike

At the closing bell on Friday, the Dow Jones Industrial Average had dropped 53.72 points (0.29 per cent) to 18,232.02.

Oil falls as US dollar lifts

The US dollar has strengthened, while oil prices dropped after a two-day crude rally.

Yellen expects US rate hike this year

Interest rates are expected to be raised 'at some point' in the United States, according to Federal Reserve chair Janet Yellen.

Europe stocks mixed as EU leaders meet

The benchmark FTSE 100 index has risen 0.26 per cent at 7,031.72 points, boosted by gains to share prices of heavyweight minerss.

EU outlook 'brighter than for 7 years'

The outlook for the eurozone is "brighter than for seven years", the European Central Bank president says.

Luxury giant Richemont sees profit plunge

Luxury goods giant Richemont says its annual net profit has plunged by more than a third, to 1.3 billion euros.

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