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Australia competition inquiry targets Facebook, Google

Digital platforms like Facebook and Google will be at the centre of an Australian inquiry announced Monday examining their impact on competition in media and advertising markets.Like elsewhere in the world, traditional sources of circulation and advertising revenues have been drying up for Australian media groups, under siege from the powerful pairing.Local providers can no…

CommSec Daily Report Monday

Latest NewsLocal shares started the new trading week in a tentative manner before slowly building over the first hours of trade to be ahead by 10 points at the best level of the morning having started trade with a 4 point gain. Sector performances saw the Telecoms lead the gains over the morning, followed by…

We splurge $11B on Christmas spending

Aussies splurge $11B on Christmas shoppingWith only 21 days left until #Christmas, new Commonwealth Bank research reveals Aussies are planning to spend $11B this year Aussies splurge $11B on Christmas shopping CommBank research reveals three busiest shopping days With only 21 days left until Christmas, new Commonwealth Bank research reveals Aussies are planning to spend…

IG Research – The long and the short of it

It was certainly a livelier day of trade in the US on Friday and judging by the pop we have seen in the USD and specifically USD/JPY this morning, with the pair trading 0.7% higher at ¥112.97 (in interbank trade), we could see S&P 500 futures push higher on open too.Any moves in the S&P…

ASX response to US lead uncertain

It’s unclear just how well the Australian share market will respond to the passing of a significant tax reform bill in the US Senate when trade resumes on Monday. CommSec chief economist Craig James says he expects the local market to start the week higher, with the benchmark S&P/ASX200 up by between 15 and 20…

Getswift shares soar on Amazon deal

Former Melbourne AFL player Joel Macdonald’s logistics software company GetSwift has soared on the ASX after it scored two major US retailers – online giant Amazon and fast food group Yum! Shares in GetSwift rocketed to a record high on the announcements on Friday, rising as high as $4.36 a share in the first half…

Quiksilver owner runs ruler over Billabong

Billabong has received a merger proposal from the owner of the Quiksilver and Roxy brands that values the surfwear retailer and wholesaler at about $200 million. The embattled surfgear merchant says it has received a confidential, indicative and non-binding proposal from Boardriders – whose majority owner Oaktree Capital already has a 19 per cent stake…

Energy, health stocks lift Aust shares

The Australian share market has closed higher, led by the healthcare and energy sectors, while the under- pressure banks faded after an early rally as the looming royal commission weighs on the financial sector. The benchmark S&P/ASX200 stock index finished Friday 0.3 per cent higher at 5,989.8 points after investors pushed briefly past the 6,000…

Manufacturing growth rebounds in November

Growth in Australia’s manufacturing sector jumped in November, bouncing back from two months of slower expansion that coincided with the closure of the Holden and Toyota car plants. The Australian Industry Group’s Australian Performance of Manufacturing Index rose by 6.2 points to 57.3 points in November – well above the 50-point level separating expansion from…

AAP Markets Report

Stock Market Wrap 0700 INDEX LAST MOVE PREVIOUS Dow Jones 24249.27 308.59 23940.68 S&P500 2649.69 23.62 2626.07 Nasdaq 6873.461 49.119 6824.342 FTSE100 7326.67 -66.89 7393.56 DAX 13023.98 -37.89 13061.87 Shanghai 3317.577 -20.285 3337.862 Hang Seng 29177.35 -446.48 29623.83 NIKKEI225 22724.96 127.76 22597.2 NZSE 50 8186.82 44.86 8130.29 CURRENCY SNAPSHOT AT 0700 AEDT: One Australian dollar…