All news

UK accused of trying to block US trade deal transparency

Britain is attempting to ‘pull down the blinds’ on its post-Brexit free trade talks with the United States after agreeing to keep key aspects of the negotiations confidential, critics said Thursday.The two countries have set up a ‘trade and investment working group’ to lay the groundwork for a future deal once Britain leaves the European…

US Congress approves short-term budget to avoid shutdown

The Republican-controlled US Congress on Thursday passed a short-term funding bill to keep the federal government running for four more weeks, averting a looming shutdown.Members of the House of voted 231-188 for the bill and the Senate followed with a 66 to 32 vote.The temporary funding extension – which lasts until January 19 – gives…

Vodafone loses ACCC domestic roaming case

Vodafone Australia has failed in its challenge to the consumer watchdog’s handling of an inquiry into domestic mobile roaming services in Australia. The Australia Competition and Consumer Commission in May issued a draft determination that there was insufficient evidence a wholesale domestic mobile roaming service would benefit customers in the long term. In June, Vodafone…

ASX queries Retail Food Group warning

Gloria Jean’s and Donut King owner Retail Food Group has been queried by the share market operator and faces a potential class action over the timing of its recent profit warning. The ASX has asked RFG when it first became aware of the information that led to its December 19 forecast of a fall in…

Share market’s good run comes to an end

The share market has posted its first fall for the week as selling in the financial and property sectors outweighed gains by energy producers, miners and retailers. The benchmark S&P/ASX200 stock index dropped 0.25 per cent to 6,060.4 points. Phillip Capital Senior client adviser Michael Heffernan said stronger commodity prices, including oil and most base…

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…

BlueScope lifts guidance, eyes US tax gain

BlueScope Steel shares have lifted above $15 for the first time in nearly eight years after the company raised its forecast for first-half underlying earnings and flagged gains from the cut in the US company tax rate. Australia’s largest steelmaking business now expects underlying earnings for the six months to December 31 will be around…

Stocks to watch

Stocks to watch on the Australian stock exchange: ANZ – ANZ BANKING GROUP – down 2 cents, or 0.01 per cent, at $29.04 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. AWE…

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…

Consumer watchdog gets more petrol power

The consumer watchdog is getting new powers from the federal government to monitor petrol prices and profits. A new directive has been issued to the Australian Competition and Consumer Commission which will produce more in-depth quarterly reports, analysing issues relating to the supply of petroleum products. ‘Our expanded direction to the ACCC will mean the…