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Stocks to watch

Stocks to watch on the Australian stock exchange: BHP – BHP BILLITON – up 26 cents, or 0.9 per cent, to $29.10 RIO – RIO TINTO – up 62 cents, or 0.8 per cent, to $74.28 FMG – FORTESCUE METALS GROUP – up 2 cents, or 0.4 per cent, to $4.90 Iron ore prices edged…

Finance Week for December 24 – 30

DIARY OF AUSTRALIAN FINANCE: Sunday, December 24 to Saturday, December 30. (*Some items may change due to company/organiser re-arrangements. To advise of amendments please email AAP Finance Desk: [email protected]). SUNDAY, December 24 No items listed MONDAY, December 25 No items listed TUESDAY, December 26 No items listed WEDNESDAY, December 27 No items listed THURSDAY, December…

Tax-cut elation returns to Wall Street, lifting Europe

Wall Street broke a two-day losing streak on Thursday, as US stocks resumed rising on the passage of sweeping tax cuts, helping to lift European markets in the process.And after a long period in the doldrums, the energy sector showed strength as oil shares helped buoy the Dow Jones Industrial Average. Tax-cut euphoria was again in…

CommSec Daily Report Friday

Latest NewsAussie shares have started the final day of trade before Christmas on a high note with the ASX 200 opening 15pts higher and have continued on those gains towards lunch with a 21pt or 0.35% gain towards lunch. The main index is currently 1.4% higher for the week.Most sectors are pushing higher with gains…

Apple admits to slowing iPhones as batteries age

Apple on Thursday confirmed what some conspiracy theorists suspected, that it intentionally slows performance of older iPhones as batteries weaken from age.The admission played into concerns that Apple was stealthily nudging iPhone users to upgrade to newer models by letting them think it was the handsets that needed replacing and not just a matter of…

IG Research – The long and the short of it

It seems that we go into the last trading session before the Christmas break with a positive feel to the equity market open and even a small chance (say 15%-20%) that the local market tests 6100.Hitting 6100 is a massive ‘if’ and while Aussie SPI futures are trading 0.3% higher (or 17-points) at 6032, the…

Shifting to crypto cash, NY iced tea maker sees shares triple

Shares in a New York beverage company nearly tripled by midafternoon Thursday after it announced it was shifting into cryptocurrency-related investments.Long Island Iced Tea Corp of Farmingdale, New York – which says it currently produces the soft drink with a proprietary recipe – announced Thursday it was changing its name to ‘Long Blockchain Corp’ and…

Confident Dulux brushes off China stain

Paint and adhesives supplier DuluxGroup says it will continue to defend its market leading position in Australia, while a hit to its joint venture in China will not derail its broader Asian interests. DuluxGroup expects to achieve profit growth in its current fiscal year, and managing director Patrick Houlihan told the company’s annual general meeting…

ANZ sale rejected on ownership uncertainty

ANZ has had the sale of its New Zealand UDC Finance business to HNA Group rejected by an investment regulator due to uncertainty surrounding the ownership of the Chinese logistics company. New Zealand’s Overseas Investment Office knocked back HNA’s application to buy the business for $NZ660 million ($A626 million) on Thursday, because it couldn’t determine…

Company tax rates ‘lead in saddle bags’

Australia must follow the United States in slashing corporate tax rates or risk losing jobs and investment to other parts of the world, the country’s top economic ministers have warned. The federal government is restating its pitch to reduce the company tax rate for all businesses from 30 per cent to 25 per cent after…