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Stocks to watch

Stocks to watch on the Australian stock exchange: A2M – THE A2 MILK COMPANY – up $2.06, or 23.6 per cent, at $10.77 The A2 Milk Company has more than doubled its first-half profit and has entered into an alliance with global dairy giant Fonterra to produce new products and enter new markets. CCL –…

$A falls below 79 US cents on $US strength

The Australian dollar is firmly back below 79 US cents. At 0635 AEDT on Wednesday, the Australian dollar was worth 78.85 US cents, down from 79.18 US cents on Tuesday. Westpac’s Imre Speizer says the US dollar has extended its multi-day recovery. ‘The USD index is 0.7 per cent higher on the day, further extending…

Goldman’s Barroso accused of breaking no EU lobbying vow

Activists on Tuesday accused former European Commission president Jose Manuel Barroso of breaking his pledge not to lobby the EU on behalf of his employer Goldman Sachs.A coalition of NGOs accused the former Portuguese prime minister of meeting with a vice-president of the current EU executive, Finland’s Jyrki Katainen, in a hotel last year.‘This information…

IG Research – The long and the short of it

As we tail off into the close of the S&P 500 the leads are certainly souring, although tech for a large part of the session worked well, helping the NASDAQ to continue the outperformance seen last week. Walmart have been at the heart of the sell-off, while Apple has shown real leadership, as investors continue…

Eurozone stocks firm, London lags on weak HSBC

Key eurozone stock markets posted gains on Tuesday as a weaker euro gave exporters a boost, while London underperformed because of sharp falls in banking giant HSBC and other major companies following earnings updates.‘The FTSE 100 was held back by mixed results from HSBC, (miner) BHP Billiton and (hotels group) IHG,’ said Jasper Lawler, head…

After stunning growth streak, Amazon ambitions seem boundless

Triumphant in online retail, cloud computing, organic groceries, and streaming television, Amazon founder and chief disruptor Jeff Bezos is turning his seemingly limitless ambition to health care.Amazon, launched as an internet bookseller nearly 24 years ago, has branched into offerings including voice-commanded speakers infused with Alexa artificial intelligence and original TV shows streamed online at…

Some KFC stores to close all week in UK chicken crisis

Some KFC outlets in Britain are to remain shut for the rest of the week, the fast-food operator said Tuesday as a supply crisis rumbled on, leaving fans craving a fix of deep-fried chicken.About 450 of the chain’s 900 outlets remained closed late Tuesday after ‘operational issues’ with new German delivery supplier DHL left them…

Chevron resumes drilling in Iraqi Kurdistan

Chevron said Tuesday it resumed its oil drilling operations in the Kurdistan region of Iraq, four months after suspending them amid tensions between Baghdad and the Kurds.‘Chevron can confirm that it has resumed its activities in the KRI and we have restarted drilling operations at our Sarta 3 well,’ a company spokeswoman said in an…

Electric car market jumpstarts cobalt prices

Cobalt is hitting historically high prices fuelled by the automobile industry, which needs the rare metal to make light and durable electric batteries.The price per tonne of cobalt rose to $82,000 on the London Metal Exchange in mid-February, its highest level since it began tracking the commodity in 2010, and has almost tripled in value…

Venezuela begins selling oil-backed cryptocurrency

Venezuela formally launched its new oil-backed cryptocurrency on Tuesday in an unconventional bid to haul itself out of a deepening economic crisis.The leftist Caracas government put 38.4 million units of the world’s first state-backed digital currency, the Petro, on private pre-sale from the early hours.During the first 20 hours of the pre-sale, which runs through…