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NBN technology terrific, minister insists

Despite technical problems, the federal government is heralding the connection of the national broadband network via pay-TV cables as terrific technology. NBN Co has announced it will temporarily suspend rollout of the hybrid coaxial-fibre (HFC) network, warning of six to nine-month delays. ‘There’s no problem that’s been identified that can’t be fixed. They will be…

Stocks to watch

Stocks to watch on the Australian stock exchange: BHP – BHP BILLITON – down 46 cents, or 1.7 per cent, at $27.49 BHP Billiton expects to lower costs in its Australian mining operations by a further 10 per cent and has forecast the division will deliver $US1.6 billion ($A2.2 billion) in productivity gains over the…

Aust shares look set to open flat

The Australian share market looks set to open flat with no clear lead from Wall Street which early on set fresh record highs before retreating. At 0700 AEDT on Tuesday, the share price futures index was down three points, or 0.05 per cent, at 5,988. On Wall Street, in the session indexes set more record…

$A is marginally higher against weaker $US

The Australian dollar is hardly changed against its US counterpart which again fell in the offshore session as traders braced for the resumption of deliberations on the US tax plan and the confirmation hearing for Federal Reserve governor Jerome Powell as the central bank’s next chair. At 0635 AEDT on Tuesday, the Australian dollar was…

Nationals at odds over banking inquiry

A meeting of federal National MPs next week is brewing up to be a heated affair with ministers and backbenchers at odds over a sweeping banking inquiry. As Nationals senator Barry O’Sullivan refines his private bill for a parliamentary commission of inquiry – with similar powers to a royal commission – senior Liberal Christopher Pyne…

Holden invests in dealer makeover

Former Australian car maker Holden is investing $150 million to upgrade its dealer network across Australia, and its Lang Lang proving ground in Victoria, in what the company says is a sign of its bright future in the local market. The company has already started rolling out its new look dealerships with those in Warnambool,…

IG Research – The long and the short of it

We are staring at a fairly flat start for Australian and Japanese equities indices on open this morning, although China is the market to watch and another day of reasonably heavy selling may impact sentiment across the region.The CSI 300 is the index showing all the moves at the moment closing -1.3% yesterday, and breadth,…

Global stocks mostly fall as oil-linked shares retreat

World stocks mostly fell Monday on weakness in petroleum-linked equities and as a strong euro weighed on European bourses.Equity markets in London, Paris, Frankfurt and Tokyo all fell, while the S&P 500 and Nasdaq retreated from records in the US.Eurozone stocks fell, as the  euro, though pulling back a bit from Friday’s level against the…

Bezos a $100 bn man as Amazon rises on cyber shopping

Amazon founder Jeff Bezos was a $100-billion man on Monday as the online retail colossus raked in cash from the holiday weekend’s cyber shopping spree.Forbes magazine’s real-time ranking of the richest people had Bezos on top, with a personal net worth of $100.3 billion.Microsoft co-founder Bill Gates saw his net worth climb to a dizzying…

Tumblr founder leaving Yahoo-owned blogging platform

Tumblr founder and chief David Karp on Monday announced he is leaving the nearly 11-year-old blogging platform – with his departure coming in the wake of Verizon buying parent-company Yahoo.Karp said that he will leave by the end of this year and chief operating officer Jeff D’Onofrio will take his place at the helm of…