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Business

Breaking news business

Wall St ends best week since March

Noel Randewich US stocks have had their best week since March, as investors increasingly expect a rate hike next month.

US dollar gains after Yellen remarks

Saqib Iqbal Ahmed and Caroline Valetkevitch Federal Reserve chair Janet Yellen says a US interest rate hike could be "appropriate" soon, as the S&P 500 ends its best week since March.

Rate hike likely appropriate soon: Yellen

Jonathan Spicer and Svea Herbst-Bayliss An interest rate hike in the coming months "would be appropriate" if US economic growth continues as expected, Fed chair Janet Yellen says.

US consumer sentiment jumps to May high

The University of Michigan says its index of US consumer sentiment rose to 94.7 in May, the highest in almost a year.

US Q1 growth revised up to 0.8%

US GDP has risen at a 0.8 per cent annual rate as opposed to the 0.5 per cent pace reported last month.

Stereotypes hinder women in workplace

Angelo Risso The National Mental Health Commissioner says gender bias may be so ingrained it is still holding back workplace equality.

TV2U raises $1.9m

TV2U International has raised $1.94 million for new hires for its research and development team to pursue a number of short-term opportunities.

Stocks to watch

Stocks of interest on the Australian Securities Exchange

ASIC bans Perth financial adviser

The corporate watchdog has banned a former financial planner who worked for HSBC after he engaged in dishonest conduct involving more than $4 million.

BPS expands operations in North America

BPS Technologys Bartercard operations in North America has expanded its reach with the sale of three new franchises.

Lendlease issues US$400m senior notes

Lendlease has issued US$400 million of senior unsecured notes to repay revolving bank facilities.

SpeedCast to supply yacht race

SpeedCast International has been appointed by OC Sport to provide the fleet of 15 yachts competing in the Transat AG2R La Mondiale.

OBJ extends P&G deal

OBJ has extended its product development agreement with Procter and Gamble, giving P&G a worldwide exclusive right to commercialise its technology.

Thousands miss flights due to screening

Thousands of passengers miss their flights in the US because of delays during screening at airports, American Airlines has told US Congress.

No free data after latest Telstra outage

Lilly Vitorovich Some Telstra customers affected by the telco's network problem last week have received a $25 credit and a new modem.

US dollar up as world stock markets steady

The US dollar index rose 0.1 per cent and was on track for its best monthly performance since last November.

Perth media deal raises diversity concerns

Kim Christian Seven West Media is in talks to buy Perth's Sunday Times newspaper from Rupert Murdoch's News Corp, but the ACCC may have some concerns.

Bank of Queensland director resigns

Bank of Queensland's non-executive director Neil Berkett has resigned from the board after three years with the lender.

Big banks' profit growth to slow: Fitch

Stuart Condie Credit rating agency Fitch believes low interest rates and government tax policies have likely contributed to risks including rising household debt.

F&P Healthcare in record rude health

Tina Morrison Annual profit for medical device maker Fisher & Paykel Healthcare hits a new record and it predicts even better in the coming year.

Bonds rise as market watches US Fed

Australian bond prices have risen ahead of a speech by US Federal Reserve chair Janet Yellen.

Commodities markets summary

Commodities news from around the world

Oil dips after hitting $US50 a barrel

Oil prices dipped after both Brent and US crude hit $US50 a barrel for the first time in seven months while the greenback edged down on US rate fears.

International markets roundup

News from the world’s major stock markets

Market rises to nine month high

Trevor Chappell Strength amongst most of the big banks has helped lift the share market to its highest closing level in nine months.

$A stronger ahead of Yellen speech

Markets believe the chances of an imminent US rate hike are low, with the greenback weakening and the Australian dollar benefiting.

Google beats Oracle in $US9b Android trial

Google has won a major legal victory against Oracle over its use of Oracle's Java development platform to create the Android software for phones.

Ionis shares plummet as GSK scraps plans

Over $US900 million has been wiped from the value of Ionis Pharmaceuticals after GSK pulled plans to test a heart drug.

Philips lights up Amsterdam stock exchange

Investors have quickly driven the price of the floated lighting division of Philips up more than 7 per cent to 21.44 euros.

SWIFT malware linked to Sony hack

SWIFT malware has now been linked to a cyber attack on Sony Pictures in 2014, and banks in the Philippines and Vietnam as well as Bangladesh.

Gawker 'exploring sale after Hogan case'

Gawker Media, recently sued by wrestler Hulk Hogan over the publication of a sex tape, is reportedly considering its sale options.

Fed's Powell says rates could rise 'soon'

US Federal Reserve Governor Jerome Powell says if the economy continues "on a solid footing" a gradual rate rise would be "appropriate".

Average 30-year US mortgage rate rises

Average 30-year, fixed-rate mortgages in the US have risen to 3.64 per cent from 3.58 per cent last week, according to new data.

Debelle announces global FX code

Garry Shilson-Josling, AAP Economist RBA assistant governor Guy Debelle says a new code of conduct will help restore trust in the foreign exchange market.

UK business stakes fall before EU poll

UK business investment fell by 0.4 per cent year-on-year in the first quarter after rising 3.0 per cent in the fourth quarter of last year.

Iluka boss talks up miner's firepower

Outgoing Iluka boss David Robb says the company has the financial strength to do everything it wants.

Yowie secures YO-KAI WATCH license

Yowie Group has signed a three year licensing agreement for YO-KAI WATCH, a LEVEL 5 abby. entertainment property.

Oil tops $US50, lifts commodity stocks

A slide in Chinese shares to 2 1/2-month lows after weaker-than-expected corporate profit data, meant equities struggled to build on positive momentum.

Gina Rinehart topples down rich list

Lilly Vitorovich Australia now has a record 53 billionaires, but mining magnate Gina Rinehart's wealth has been hit by the mining downturn and legal troubles.

Wellard extends CBA facility agreement

Wellard has extended the maturity date of its existing $50 million facility with CBA from December 2016 to December 2017.

RBA caps card payment surcharges

Prashant Mehra Consumers will no longer be hit with excessive surcharges on credit card payments under new rules set out by the Reserve Bank.

New rum distillery planned for Sydney

Sydney's association with rum is about to enter a new phase as plans emerge for a new rum distillery in the harbour city, 200 years after the Rum Rebellion

Energy Mad cuts annual loss

Sophie Boot The annual loss for energy efficient lightbulb marketer Energy Mad shrinks by almost $2m from a year earlier.

Smartpay full-year profit crashes 86%

Edwin Mitson Losing a major Australian contract just before the start of the last financial year has led to an an 86 per cent profit fall for Smartpay Holdings.

Mining investment gap 'not being filled'

Marty Silk Business investment fell 5.2 per cent in the March quarter, a sharper decline than most expected.

Countrywide Energy plans $20m solar farm

Countrywide Energy plans to build a $20 million solar farm on 15 hectares of land in Wangaratta, Victoria, with around 35,000 photovoltaic panels.

Aust banks among world's 100 biggest firms

Commonwealth Bank leads a group of 35 Australian firms ranked among Forbes' annual Global 2000 list, with all four big four banks in the top 100.

Gentrack lifts first-half profit 23%

Paul McBeth Sales from its UK division helped push the first-half profit for Gentrack Group to $3.8 million, a rise of 23 per cent, as sales climbed to $23.3 million.

Another delay for Asciano takeover

Prashant Mehra Th competition watchdog has raised several concerns about the $9 billion takeover of rail and ports giant Asciano, delaying its ruling on the deal.

Santos starts second GLNG production train

Oil and gas producer Santos has started the second production train at its giant GLNG project in Queensland.

Digital gaming a boost for Aristocrat

Trevor Chappell Poker machine firm Aristocrat Leisure says surprisingly good results from its Australian and digital operations have helped double half year profit.

NZX toughens stance on share price moves

Pattrick Smellie The stock market operator NZX is going to make confidential enquiries of companies that have large, unexplained share price movements.

Mainfreight full year profit rises 6.3%

Jonathan Underhill Mainfreight has announced its full year profit has risen to $NZ87.6 million in the 12 months ended March 31 as sales climbed to a healthy $NZ2.28 billion.

Bonds rise on lingering rate cut risk

The bond market is unexpectedly higher as markets continue to price in chances of further interest rate cuts.

Exxon shareholders pass proxy access

Exxon shareholders have passed a measure that may put a climate expert on its board while a raft of other climate change-related proposals failed.

Commodities markets summary

Commodities news from around the world

Gold falls to seven-week low

Gold falls to a seven-week low before paring back to close down 0.2 per cent as investors take account of upbeat housing data boosting rate rise chances.

Alibaba accounting practices investigated

A SEC filing shows that US regulators are investigating Chinese e-commerce giant Alibaba's accounting practices.

International markets roundup

News from the world’s major stock markets

S&P 500 ascends 2 per cent in two days

Noel Randewich Rising oil prices have helped boost US stocks, with the S&P 500 posting its strongest two-day run since March.

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